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St. George Mining Ltd. ( (AU:SGQ) ) has provided an announcement.
St George Mining has extended its strategic alliance with US-based REalloys Inc. to progress towards a potential long-term offtake agreement covering up to 40% of rare earths production from the company’s Araxá Project in Brazil. The extension, which lengthens the original 120-day timetable for a definitive deal to one year, will allow more comprehensive metallurgical test work and flowsheet optimisation using REalloys’ proprietary separation technology, with the goal of tailoring Araxá’s rare earths output to REalloys’ mine-to-magnet manufacturing platform servicing US government and industrial customers. The move strengthens St George’s prospects of becoming a significant player in the US rare earths industry at a time of heightened North American focus on supply chain independence, and aligns Araxá with REalloys’ broader strategy of securing diversified feedstock for its expanding North American processing and magnet-making operations.
The most recent analyst rating on (AU:SGQ) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on St. George Mining Ltd. stock, see the AU:SGQ Stock Forecast page.
More about St. George Mining Ltd.
St George Mining Limited is an ASX-listed resources company focused on developing its 100%-owned Araxá Project in Minas Gerais, Brazil, a hard-rock, carbonatite-hosted rare earths and niobium deposit. With a high-grade rare earths resource of 40.6 million tonnes at 4.13% TREO, Araxá ranks as the largest and highest-grade such deposit in South America and a leading project in the Western world, positioning St George as a potential key supplier into ex-China and North American rare earths processing and magnet manufacturing supply chains.
Average Trading Volume: 31,215,668
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$418.5M
See more insights into SGQ stock on TipRanks’ Stock Analysis page.