Rare earths is a low-parts-per-million numbers game.
So, it’s not about the grade, it's about the leachability and what you can economically produce. It also helps to have at least four of the key elements that are of greater value and make up over 90% of all rare earth values in your basket range. They include:
Praseodymium - $163.70 per kg
Neodymium - $168.90 per kg
Dysprosium - $545.80 per kg
Terbium - $3,282.80 per kg
However, as you can see dysprosium and terbium have a much higher value and are almost entirely sourced from ionic clays in China and Myanmar. So, if AR3 have been blessed with a higher percentage of them in their basket, all the better.
Last month, AR3 announced the success of their first pilot scale production. They took ~800 kg of material and then whipped it up into a carbonate concentrate using off the shelf equipment then shipped this mixed rare earth carbonate (MREC) off to its offtake partner(s) in the UK for testing (see Ann: 9 March 2023).
It seems to me that, we may not only be blessed by being in a tier1 location, but the numbers as well.
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