Good open today.
Looks to have a lot of solid support soaking flippers.
Looks very cheap to me with big upside in coming months.
Investment Highlights :
- HRE is listing to fully acquire 100% of their flagship project Cowalinya, which already has an inferred JORC resource with 28 million tonnes @ 625 ppm total rare earth oxides (TREO) with 25% of the resource confirmed as ‘valuable magnet rare earths’.
- Current JORC derived from exploring only <1.5% of the total tenement, suggesting huge potential for further resource discovery.
- Cultural Heritage surveys and drill line clearing completed before listing. HRE expects to start drilling shortly after the IPO.
- Highly experienced management team including Richard Brescianini as executive technical director, a former BHP Minerals (ASX: BHP) executive with extensive experience in the rare earths space after having worked with Arafura Resources (ASX: ARU) for 14 years.
- Low market capitalisation of $13.65 m (at IPO price of 20c) compared to other clay hosted ASX listed peers.
- Rare earths are named near or at the top of many governments' critical mineral lists (eg US, AU, UK, EU) and are deemed to be amongst the most crucial materials to reach net-zero greenhouse gas emissions by 2050, supporting the global energy transition and renewable technologies.
Catalysts
- Further exploration and expansion resources at Cowalinya
- Commencement of 10,000m of air-core drilling (330 holes, 400m x 200m spacing) and diamond drilling
- Development of a metallurgical process flow sheet
- Duke Rare Earth Project - Surface geochemistry (soil sampling etc.) planned in H1 CY2023
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