Victory Metals (ASX: VTM) The company sent heavy rare earth element (REE) concentrations to potential partners in Australia, Japan and the United States for independent examination of the product.
The news follows the “continued successful commissioning” of the company’s pilot flotation plant in Perth. The flotation plant is a treatment circuit that separates rare earth elements from waste rock. Independent screening is an essential step towards securing commercial agreements.
“Our pilot plant has gone from commissioning to a consistent and reliable operation, and that consistency is exactly what our preferred partners want to see,” said Brendan Clarke, CEO of Victory Metals. The company added that the content of dysprosium, terbium and yttrium in the concentrate is in line with the current needs of Western supply chains.
Victory Metals also provided an update on the Pre-Feasibility Study (PFS) for its rare earths project at North Stanmore in Western Australia. Much of the previously identified saprolite is actually saprolite, the company said. The reclassification means there are more high-quality areas on the site. The company said that this news is positive for the economics of the project.
Victory Metals is an Australian-based exploration company that owns 100% of the North Stanmore Project, the country’s largest clay-bearing heavy renewable energy deposit.
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