Red Metal Limited (AU:RDM) has released an update.
Red Metal Limited reports promising advancements at their Sybella Project in Queensland, with successful leach and comminution tests indicating the feasibility of a low-cost, heap leach processing for rare earth elements. The company has produced a potentially marketable mixed rare earth carbonate product, and is prepping for further drilling at their Gidyea and Lawn Hill projects. Additionally, their investment in Maronan Metals has raised $9 million for resource drilling and project studies, as the company moves towards securing a mining lease.
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