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The latest update is out from Defense Metals ( (TSE:DEFN) ).
Defense Metals Corp. has secured up to C$853,825 in funding from Natural Resources Canada’s Critical Minerals Infrastructure Fund to advance infrastructure for its Wicheeda Rare Earth Element Project. This funding will support an economic study for a transmission line connecting the project to the provincial power grid, enhancing its operational sustainability and reinforcing its potential as a significant North American supplier of critical rare earth elements. The involvement of the McLeod Lake Indian Band as an equity partner underscores the project’s commitment to Indigenous engagement and sustainable development, positioning Defense Metals as a key player in the critical minerals sector.
More about Defense Metals
Defense Metals Corp. is a company focused on developing its Wicheeda Rare Earth Element Project in British Columbia, Canada. The project is situated on the traditional territory of the McLeod Lake Indian Band and is strategically positioned near infrastructure such as highways, power transmission lines, and railways, facilitating access to major ports.
YTD Price Performance: -18.62%
Average Trading Volume: 136,247
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $29.8M
For an in-depth examination of DEFN stock, go to TipRanks’ Stock Analysis page.