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Mount Ridley Mines Limited ( (AU:MRD) ) has provided an update.
Mount Ridley Mines has reported a maiden JORC-compliant Inferred Scandium Mineral Resource of 367.98 million tonnes at 57.3 ppm scandium at its Mount Ridley Project, ranking it among the largest publicly reported scandium resources worldwide. The scandium is co-located with a substantial gallium resource and emerging heavy rare earth potential across multiple near-surface blocks, with mineralisation geometry suited to potential bulk-tonnage open pit mining and integrated processing flowsheets. The company highlights that scandium’s high-value aerospace and defence applications, combined with constrained global supply, could materially enhance project economics, while the co-hosted scandium–gallium system offers capital and operating efficiencies. With more than 75% of the 1,000 km² tenure still untested and strong infrastructure access via the nearby Esperance port, the results materially advance Mount Ridley’s positioning as a large-scale critical minerals supplier and underline significant scope for further resource growth and refinement.
The most recent analyst rating on (AU:MRD) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Mount Ridley Mines Limited stock, see the AU:MRD Stock Forecast page.
More about Mount Ridley Mines Limited
Mount Ridley Mines Limited is an ASX-listed explorer focused on developing large-scale, multi-element critical minerals resources in Western Australia. Its Mount Ridley Project, located northeast of Esperance within the Grass Patch Complex, hosts regolith-hosted scandium, gallium and heavy rare earth mineralisation, targeting emerging demand from aerospace, defence and allied strategic metal supply chains.
Average Trading Volume: 27,754,642
Technical Sentiment Signal: Sell
Current Market Cap: A$46.2M
For a thorough assessment of MRD stock, go to TipRanks’ Stock Analysis page.