This is actually a pretty big deal, teaming up with the only REE magnet producer in Brazil. Even deep blue said why not call themselves a REE company with most of the resource categorised in REE and less Niobium.
Selected by Senai as a future REE supplier, they would have looked at many REE potential suppliers and there are many explorers in Brazil with inferred resources and SGQ at the top of the list. Why's this you wonder well:
- Location
- Management
- REE grades
- Onsite test pilot plant
The benefits of not sending REE overseas and produced locally would be obviously lower costs, which would be critical in the fluctuating REE prices with competition with China.
On the test pilot plant side, costs will be saved by having Senai expertise evaluating our final product ore which is another bonus.
The existing pilot plant at the Araxá Project will be assessed by SENAI for potential re-assembly and commissioning for use in the completion of metallurgical testwork and production of sample products.
SGQ Price at posting:
2.5¢ Sentiment: None Disclosure: Held
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