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playing the ABC card. Did not hurt trading; up a bit on a bit of volume




• Critical and heavy rare earth separation and refining facility will be a standalone, 100% IonicRE asset, to maximise potential revenue achieved from the Makuutu basket

• IonicRE has initiated a Downstream Scoping Study to confirm economics associated with developing a standalone facility

• Internal Desktop Study has indicated substantial upside to be gained from Makuutu critical and heavy rare earth basket

• Strong interest for development of mine to market source for western end users keen to get access to highly strategic basket via alternative, secure and traceable supply chain

Our timeline to production from Makuutu remains firm ... the focus is set on 2024. As we ramp Makuutu up over the rest of the decade to 2030, IonicRE also wants to ensure we can build Separation and Refinery capacity to match that scale of production proposed at Makuutu. To meet those goals, now is the time to start this activity

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Now IXR talking up the Scandium aspects of the deposit:




• Makuutu is currently the 3rd largest reported scandium resource globally, currently containing over 9,450 tonnes within current MRE

• Scandium resource potential expected to grow with substantial exploration upside identified at Makuutu, specifically in eastern tenement EL00147, and northwestern tenements application TN03573 (pending)

• IonicRE positioning itself to become a key player in the Sc2O3 market, with initial plans to produce 20-25 tpa, and progressively ramp up production over 10 years to approx. 90-100 tpa

• Current pricing for Scandium Oxide (Sc2O3) trading at between US$1,000/kg to US$4,000/kg in opaque market

• Accelerated interest in Scandium assets globally, with Rio Tinto (ASX:RIO) and RUSAL (SEHK:486) recently announcing entry into the Sc2O3 market

• Scandium potential at Makuutu to focus on supplying large addressable markets within the aerospace, automotive and defense sectors, in addition to fuel cell and 3D printed specialty component applications

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  • 2 months later...

the chemistry / technology of Rare Earth extraction is complex. Will this give IXR an advantage?


Meantime, at ASM costs are rising.... the Optimisation Study just released sees additions include an estimate for the pricing of its dehafinated zirconia solvent extraction plant (an $87m increase), as well as $65m for a chlor alkali plant, $30m for a brine concentrator upgrade (and a $163m owner contingency).

ASM said the changes will bring annual operating costs down. 
(More fixed cost upfront, hoping for better revenues down the track + better ESG metrics)

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  • 4 weeks later...

• Fourth Tranche of Phase 4 drilling results received with all 75 holes intersecting rare earth element (REE) mineralised clay above the MRE cut off grade, including the following outstanding thick high grade intervals:
• RRMDD539  8.9 metres at 1,476 ppm TREO from 4.3 metres
• RRMDD477  13.5 metres at 1,432 ppm TREO from 3.5 metres
• RRMDD518  16.5 metres at 1,424 ppm TREO from 5.4 metres
• RRMDD514  8.7 metres at 1,336 ppm TREO from 12.3 metres
• RRMDD533  9.6 metres at 1,296 ppm TREO from 3.1 metres
• RRMDD520  28.5 metres at 1,250 ppm TREO from 2.9 metres
• RRMDD523  16.4 metres at 1,229 ppm TREO from 4.1 metres
• RRMDD521  18.6 metres at 1,200 ppm TREO from 4.7 metres

  • Approximately 25% of assay intervals reported in this announcement present REE clay bearing thickness in excess of 20 metres
  • Remaining Phase 4 samples from 176 holes at the assay laboratory and expected to be reported over next 2 months



The latest set of assays is another fantastic result from the Phase 4 drill program at Makuutu. The infill drill holes across the Makuutu Central Zone confirmed near surface, thick REE bearing clays, and continues to validate the Makuutu deposit.  Thickness of mineralised clay and minimal cover is crucial to minimising the opex cost, and Makuutu continues to deliver with results from this batch reporting approximately 25% of the intercepts within the Makuutu Central Zone exceeding 20m thick, and over 85% greater than 10 metres thick.


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