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An announcement from Citius Resources PLC ( (GB:HREE) ) is now available.
Harena Rare Earths has completed a pre-feasibility study for its Ampasindava Project in Madagascar, confirming the technical and economic viability of a 20-year heap leach operation producing around 4,000 tonnes of total rare earth oxides per year, including approximately 1,700 tonnes of magnet-related oxides. The PFS outlines pre-production capital costs of US$142m and models strong economics under different rare earth pricing scenarios, with post-tax net present value estimates ranging from about US$250m to US$464m and internal rates of return of 27–30%, underscoring the project’s potential as a world-class heavy rare earth asset. With government engagement in Madagascar described as strong, permitting targeted for construction start in 2027, and plans for a proof-of-concept plant, on-site laboratory and further cost-optimisation ahead of a definitive feasibility study, the project appears to be advancing rapidly and progressively de-risking, which could enhance Harena’s strategic position in the global rare earths market and deliver material long-term cash flows if developed as planned.
Spark’s Take on GB:HREE Stock
According to Spark, TipRanks’ AI Analyst, GB:HREE is a Underperform.
Citius Resources PLC faces critical financial and technical challenges, with no revenue and poor market indicators dominating the outlook. While positive corporate events suggest potential upside, these factors are overshadowed by the company’s ongoing financial distress and negative technical trends.
To see Spark’s full report on GB:HREE stock, click here.
More about Citius Resources PLC
Harena Rare Earths Plc is a rare earths company listed in London and on the OTCQB, focused on developing the Ampasindava ionic clay rare earth project in northeastern Madagascar. The project targets total rare earth oxides, with a high proportion of magnet rare earth oxides such as neodymium, praseodymium, dysprosium and terbium, positioning the company in the strategic supply chain for materials used in high-performance permanent magnets and green energy technologies.
Average Trading Volume: 1,185,669
Technical Sentiment Signal: Hold
Current Market Cap: £11.26M
Find detailed analytics on HREE stock on TipRanks’ Stock Analysis page.