Perpetual Resources Ltd. (AU:PEC) has released an update.
Perpetual Resources Ltd has expanded its mining portfolio with the acquisition and commencement of exploration activities at the Raptor Rare Earth Project and additional lithium prospects in Brazil, yielding promising results, including significant grades of rare earth elements and lithium. However, due to unfavorable market conditions for silica sand, the company has decided to place its Beharra Project on care and maintenance, with a potential restart dependent on future market improvements. The quarter also saw strategic corporate moves, including the appointment of a rare earth element specialist to oversee exploration at Raptor.
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