IXR - Ionic Rare Earths

[Boggo]

Good to see that it’s finally moved (@Sean K).

 

[JuliusMasximus]

Hey guys, just giving my opinion on this REE company and to why we might see some gains next month.

This month it applied for a mining licence to start work at Makuutu, Africa. It was applied for quite ahead of schedule and I'm hoping we get approval and a rerate of the current SP by the end of next month.

I'll leave attached their timeline for anyone interested. Cheers gang.

 

[Dona Ferentes]

IonicTech is the rebranded 100% owned subsidiary (formerly Seren Technologies Ltd) based in Belfast UK, which the Company acquired earlier in 2022. IonicTech has developed rare earth element separation and refining technology and applied this to the recycling and refining of individual magnet rare earths from spent
permanent magnets.

Over the past quarter significant progress has been made at our newly established facility in Belfast, UK, which is progressing on schedule, with the new facility now home to the expanding team.

The new facility has been equipped with analytical and hydrometallurgical laboratories, plus piloting and demonstration plant bays to progress the scale-up verification of the technology.

Additionally, the team is being expanded in Belfast to accelerate the work streams with current plans for commissioning of the demonstration plant expected in late Q1 2023, and first recycled rare earth oxide (REO) products produced by the end of Q2 2023.

- also gets a mention in a Stockhead article:

Not all ionic clay rare earths deposits are created equal. Here’s why ASX investors need to read the fine print - Stockhead

A simple lab test is required to see if an ionic clay REE deposit is a doozy or a dud -- yet the number of stocks doing it is abysmally small.

stockhead.com.au

 

[Dona Ferentes]

This month it applied for a mining licence to start work at Makuutu, Africa. It was applied for quite ahead of schedule and I'm hoping we get approval ....by the end of next month

took a bit longer ...
.
MAKUUTU HEAVY RARE EARTH
PROJECT MINING LICENCE SIGNED
BY UGANDAN GOVERNMENT
• The Ugandan Minister of Energy and Mineral Development has signed and issued Large Scale Mining Licence 00334 for the Makuutu Heavy Rare Earths Project;
• This mining licence approval is the first large scale mining licence awarded in Uganda;
• Award of the mining licence brings on further supply chain and off-taker engagement, and positions Makuutu for targeted Final Investment Decision later in 2024 and first production in 2026;
• The Demonstration Plant at Makuutu continues to advance, with first Mixed Rare Earth Carbonate production on track for Q1 2024;
• Ugandan Directorate of Geological Survey and Mines has also announced approval for renewal of highly prospective Exploration Licence 00147, covering the majority of the Company’s existing exploration target; and
• Makuutu is the most advanced Ionic adsorption clay project in development today with product not committed to China and will supply new supply chains looking to decouple from existing sources.

I'll leave attached their timeline for anyone interested.

.
Market cap $90 million
...... three year chart

.
Ionic expects the mine to run for a minimum of 35 years, producing a 71% rich magnet and heavy rare earth carbonate product basket, but said the asset presents significant potential for scale up through additional tenements

 

[Dona Ferentes]

shares are 2c ... market cap $80m

FIRST MIXED RARE EARTH CARBONATE PRODUCED AT MAKUUTU​

• Major milestone of the first production of Mixed Rare Earth Carbonate from its newly commissioned Demonstration Plant on site at Makuutu in Uganda;
• MREC produced from Makuutu is rich in both magnet and heavy rare earth
elements, and presents a key alternative, strategic future source for
supply constrained Dysprosium (Dy) and Terbium (Tb), from which ~98% of global supply comes from China;
• Production of MREC advances further supply chain and off-taker engagement, providing sample product for customers and strategic partners to evaluate, and positions Makuutu for targeted Final Investment Decision later in 2024 and planned full commercial production in 2026;
• The Demonstration Plant facility at Makuutu continues to advance, with additional MREC production from the Phase 1 activity scheduled for the remainder of H1 2024;
• Major Milestone achieved within two months of being awarded its large-scale mining licence and nine months since breaking ground on facility in Uganda; and
• MREC production reinforces Makuutu as the most advanced Ionic adsorption clay project in development today, with product not committed to China and will supply new supply chains looking to decouple from existing sources.

 

[Dona Ferentes]

shares are 2c ... market cap $80m

FIRST MIXED RARE EARTH CARBONATE PRODUCED AT MAKUUTU​

shares are 1c
...
and if they're looking further afield, it's a fair call that Ugandan efforts are sub-economic.

BRAZILIAN JOINT VENTURE VIRIDION SIGNS MOU WITH SENAI FEIMG TO ESTABLISH SECURE BRAZILIAN MAGNET SUPPLY CHAIN​

Viridion integration into Brazilian rare earth market to facilitate near term NdFeB magnet production capacity
• IonicRE joint venture with Viridis Mining and Minerals Ltd (ASX: VMM), “Viridion” signs Memorandum of Understanding with SENAI FIEMG Innovation and Technology Centre of Minas Gerais, owner and operator of Lab Fab, the first rare earth magnet laboratory in South America;
• Transformational JV agreement has Viridion strategically placed to become the first Brazilian producer of refined Rare Earth Oxides from either a Mixed Rare Earth Carbonate or from recycling of spent magnets using IP from IonicRE’s 100% owned UK subsidiary, Ionic Technologies;
• Viridion to launch Scoping Studies for the REO Refinery and Magnet Recycling facilities in January 2025, following Viridis completing production of MREC from its Southern Concessions at Colossus;
• Several potential locations under review to support pilot plants for both the REO Refinery and the magnet recycling facilities near existing Viridis operations in Poços de Caldas, Minas Gerais;
• Agreement to target developing rare earth magnets at Lab Fab facility in Lagoa Santa, Belo Horizonte, an immediate and near-term local source of magnet REO.

Ionic Rare Earths Limited is advancing its integration into the Brazilian magnet supply chain, with the Company’s Viridion joint venture with Viridis Mining and Minerals (ASX:VMM) signing a five-year Memorandum of Understanding with SENAI FIEMG Innovation and Technology Centre, owner of Lab Fab, South America’s first rare earth magnet laboratory.

Signed recently in Perth, Western Australia during a state visit, the agreement establishes a basis for cooperation between Viridion and SENAI Regional Department, with a view to jointly develop an produce rare earth magnets at Lab Fab, in the Brazilian state of Minas Gerais, by identifying activities of common interest between the parties:
• Supply of raw materials by Viridion for pilot production of rare earth magnets;
• Promote actions to strengthen the parties and, consequently, their relations with industries interested in these technologies;
• Develop joint projects of applied research, assessment activities, experiments, training, consulting and specialised technological services;
• Implement other joint activities and programs, as well as pilot and experimental programs in areas and subjects of mutual interest and benefit that may be agreed upon between the parties.

 

[frugal.rock]

Wonder where the price goes now after SPP?
Not held. Rare earths are doing my head in!
I note HAS has moved today, but I has none of it also.
(Note Brazilian @sptrawler )

 

[JonnyBubbleWrap]

newsRush.ai

newsrush.ai

IONIC RARE EARTHS LIMITED​

Results of Meeting Share​

Announcement Type: Annual General Meeting Results​

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27 November 2024 2:58 PM. Open PDF | 2 Pages

Ionic Rare Earths Limited (ASX: IXR) reports that all resolutions put forward at its Annual General Meeting on November 27, 2024, passed successfully.

Summary​

• Ionic Rare Earths Limited held its Annual General Meeting (AGM) on November 27, 2024.
• All resolutions presented at the AGM were passed.
• Detailed voting results, including proxy votes, are available in accordance with ASX Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act.
• The highest percentage of votes against any resolution was 18.17%, for the election of Brett Lynch as a director.

Sentiment​

Score: 7
Explanation: The successful passage of all resolutions indicates positive shareholder sentiment. However, the significant 'against' votes on some resolutions temper the overall positivity.

Highlights​

• The AGM was held on November 27, 2024.
• All resolutions passed.
• Voting results are available per ASX Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act.
• The highest 'against' vote was 18.17%.

Positives​

• All resolutions passed successfully, indicating strong shareholder support for the company's direction.
• High percentage of votes 'for' each resolution, demonstrating significant shareholder approval.

Negatives​

• A notable percentage of votes were cast against some resolutions, suggesting some shareholder dissent.
• The highest percentage of votes against any single resolution was 18.17%.

Key Dates​

• 27 November 2024: Date of the Annual General Meeting

 

[JonnyBubbleWrap]

newsRush.ai

newsrush.ai

IONIC RARE EARTHS LIMITED​

IonicRE AGM Presentation Share​

Announcement Type: Annual General Meeting Presentation​

---

27 November 2024 11:34 AM. Open PDF | 14 Pages

Ionic Rare Earths Limited (ASX: IXR) announced positive progress across its magnet and heavy rare earth projects, including a feasibility study indicating a high-return magnet recycling operation and ongoing development of its Makuutu Rare Earths Project in Uganda.

Summary​

• IonicRE is advancing its sustainable sourcing of magnet and heavy rare earths.
• The company's Makuutu Rare Earths Project in Uganda has received a mining license and environmental permits.
• A demonstration plant at Makuutu has produced MREC, and offtake negotiations are underway.
• IonicRE has a 50/50 joint venture with Viridis Mining & Minerals Ltd to develop a refinery and recycling facility in Brazil.
• A feasibility study for a magnet recycling facility in Belfast shows a post-tax NPV of US$502 million, a 43.6% IRR, and a 2.4-year payback period.
• The Belfast facility is designed to process 1,200 tpa of end-of-life NdFeB magnets and swarf, producing 400 tpa of separated magnet REOs.
• IonicRE's operating costs are estimated to be US$27.68/kg REO (ex-magnet feedstock) in Belfast, with potential for further reductions in other jurisdictions.
• The company is leveraging favorable government policies in the UK, EU, and US that support domestic rare earth capabilities and recycling.
• IonicRE is scaling up its technology from lab scale to commercial scale, with planned construction of a commercial facility expected to be completed in late 2026.
• A peer comparison shows IonicRE favorably positioned compared to competitors in the magnet recycling space.

Sentiment​

Score: 8
Explanation: The document presents a positive outlook for IonicRE, highlighting significant progress across multiple projects and strong financial projections. However, the inherent risks associated with rare earth mining and the speculative nature of the investment warrant a score below 10.

Highlights​

• Mining Licence awarded for Makuutu Rare Earths Project in January 2024
• Environmental Permits issued for Makuutu in October 2023
• Makuutu Demonstration Plant produced MREC, offtake negotiations underway
• 50/50 JV with Viridis Mining & Minerals Ltd (ASX: VMM) to develop refinery and recycling facility in Brazil
• Belfast magnet recycling feasibility study: US$502 million post-tax NPV, 43.6% IRR, 2.4-year payback
• Belfast facility: 1,200 tpa feedstock, 400 tpa separated magnet REOs
• Belfast operating cost: US$27.68/kg REO (ex-magnet feedstock)
• Significant cost reduction in 2024 with delivery of demonstration plants
• Planned construction of commercial facility expected to be completed late 2026

Positives​

• Mining license and environmental permits secured for the Makuutu Rare Earths Project.
• Successful production of MREC from the Makuutu demonstration plant.
• Highly positive feasibility study results for the Belfast magnet recycling facility.
• Strategic joint venture established for refining and recycling in Brazil.
• Favorable government policies supporting domestic rare earth capabilities and recycling.
• Significant cost reductions achieved in 2024.
• Strong progress towards commercialization of technology.

Negatives​

• No significant negatives were explicitly mentioned in the document.

Risks​

• The investment in the company is considered highly speculative.
• Forward-looking statements involve known and unknown risks and uncertainties.
• Success depends on various factors beyond the company's control.
• Potential challenges in scaling up operations and securing offtake agreements.

Future Outlook​

IonicRE plans to scale up its technology from demonstration scale to commercial scale, with planned construction of a commercial facility expected to be completed in late 2026. The company is also pursuing further joint ventures and commercial partnerships to expand globally.

Industry Context​

IonicRE is positioned as a leader in the emerging sustainable rare earth supply chain, leveraging magnet recycling to address growing demand and geopolitical concerns regarding rare earth sourcing. The company's focus on both mining and recycling positions it strategically within the industry.

Next Steps​

• Continue offtake negotiations for Makuutu MREC
• Develop refinery and recycling facility in Brazil
• Scale up magnet recycling technology to commercial scale
• Pursue further joint ventures and commercial partnerships

Key Dates​

• 20 March 2023: First release of Mineral Resources and Ore Reserves for the Makuutu Rare Earths deposit to the ASX
• 18 January 2024: Mining Licence awarded for Makuutu Rare Earths Project
• 3 April 2024: Announcement of 50/50 JV with Viridis Mining & Minerals Ltd
• 15 May 2024: Updated Mineral Resource Estimate and Exploration Target for Makuutu released to ASX
• 7 March 2024: Makuutu Demonstration Plant produced MREC
• 27 October 2023: Environmental Permits issued for Makuutu
• 6 November 2024: MOU signed with CIT SENAI to accelerate NdFeB magnet capacity in Brazil
• 18 November 2024: Release of Ionic Technologies Belfast Magnet Recycling Feasibility Study
• 27 November 2024: Date of IonicRE Annual General Meeting

 

[Dona Ferentes]

The SPP followed the successful completion of:
1. a placement of 206,857,136 fully paid ordinary shares at a price of $0.007 plus 103,428,574 options to raise $1,448,000; and
2. a commitment from Directors of the Company, to subscribe for 28,857,140 fully paid ordinary shares at $0.007 plus 14,428,570 options, to raise a further $202,000, subject to receiving approval at a General Meeting of Shareholders to be held early in 2024
.
The SPP aimed to raise gross proceeds of $500,000 and was not underwritten. The Board has decided to accept all eligible applications. 109,379,876 new fully paid ordinary shares under the SPP raising approximately $766,000. ...

but somewhat awkward?