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Eclipse Metals Ltd. ( (AU:EPM) ) has shared an update.
Eclipse Metals Ltd has initiated diamond drilling at its Grønnedal Rare Earth Deposit in Greenland, part of its Ivigtût Project, following a $4 million capital raise aimed at accelerating drilling and metallurgical programs. This effort targets expanding the 89Mt Inferred Resource and enhancing resource classification, with a focus on neodymium and praseodymium, essential for electric vehicles and defense technologies. The strategic move aligns with global concerns over rare earth supply-chain security and positions Eclipse as a significant player in the Western rare earth supply chain, with plans for a potential Nasdaq dual listing to strengthen ties with U.S. investors.
More about Eclipse Metals Ltd.
Eclipse Metals Ltd is an Australian exploration company focusing on multi-commodity mineralization in southwestern Greenland, Australia’s Northern Territory, and Queensland. The company holds a portfolio of assets with potential for cryolite, fluorite, siderite, quartz, rare earths, gold, platinum group metals, manganese, palladium, and vanadium. Eclipse aims to enhance shareholder value through capital growth and dividends by developing viable mineral deposits for mining or joint venture income.
YTD Price Performance: 126.67%
Average Trading Volume: 6,834,824
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$89.97M
Find detailed analytics on EPM stock on TipRanks’ Stock Analysis page.