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The latest announcement is out from RareX Limited ( (AU:REE) ).
RareX Limited has issued 79,999,998 ordinary shares without disclosure to investors, in compliance with the Corporations Act. This move is part of RareX’s strategy to optimize its portfolio of carbonatite-related projects, including the newly acquired Piper Project, and to maintain its focus on developing the Cummins Range Project, which is significant for its rare earths and phosphate resources.
More about RareX Limited
RareX Limited is a critical minerals company specializing in rare earths, gallium, niobium, and scandium found in hard rock carbonatites. The company’s exploration efforts are focused on the Mt Mansbridge xenotime heavy rare earths project, the Khaleesi Project with elevated gallium and niobium, and the Cummins Range near-mine anomalies. RareX is also engaged in engineering and commercial activities for the Cummins Range Project, which is considered Australia’s largest undeveloped rare earths project. Additionally, RareX holds investments in Kincora Copper, Cosmos Exploration, and Canada Rare Earth Corporation.
Average Trading Volume: 4,493,575
Technical Sentiment Signal: Sell
Current Market Cap: A$18.4M
For detailed information about REE stock, go to TipRanks’ Stock Analysis page.