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Red Metal Limited ( (AU:RDM) ) has issued an update.
Red Metal Limited has announced promising assay results from infill drilling at the Sybella rare earth discovery, confirming the continuity of rare earth oxide mineralisation in the eastern Kary Zone. The findings support the large Inferred Mineral Resource, with significant intercepts of Magnet Rare Earth Oxide starting at surface levels. The company’s plans include further drilling and pH optimisation leach tests, indicating potential for a low-cost, low-capital heap leach processing option. The proximity to Mount Isa infrastructure enhances the project’s viability, and upcoming results from metallurgical tests are expected to further validate the project’s potential.
More about Red Metal Limited
Red Metal Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company primarily deals with rare earth oxides, including neodymium, praseodymium, dysprosium, and terbium, with a market focus on exploiting large tonnage deposits suitable for low-cost processing methods.
YTD Price Performance: 15.00%
Average Trading Volume: 298,672
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: A$41.36M
For detailed information about RDM stock, go to TipRanks’ Stock Analysis page.
