RareX advances Cummins Range as mining lease granted and loss narrows

The latest update is out from RareX Limited ( (AU:REE) ).

RareX Limited reported a reduced half-year loss of $931,148 as it continued to advance the Cummins Range Rare Earths and Phosphate Project in Western Australia. The company carried out technical evaluations, metallurgical testwork and processing flowsheet refinement to better define the project’s rare earth, phosphate and gallium potential and support future development planning.

RareX also progressed preparatory work on its consortium proposal with Iluka Resources for the Mrima Hill Project in Kenya, while maintaining engagement with potential strategic and downstream partners in the critical minerals supply chain. After the reporting period, the Cummins Range Project was granted a mining lease, moving it beyond exploration and tenure risk, alongside new equity and options issuance and board changes that further position the group for potential project development.

The most recent analyst rating on (AU:REE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on RareX Limited stock, see the AU:REE Stock Forecast page.

More about RareX Limited

RareX Limited is an Australian mineral exploration company focused on rare earths and critical minerals, with principal activities centred on its mining tenements in Western Australia. Its key asset is the Cummins Range Rare Earths and Phosphate Project, where the company is targeting multi-commodity potential spanning rare earths, phosphate and gallium for use in critical supply chains.

Average Trading Volume: 5,019,327

Technical Sentiment Signal: Sell

Current Market Cap: A$25.47M

See more data about REE stock on TipRanks’ Stock Analysis page.