Highlights
REE market conditions remain at low levels although recent positive price movements provide support for an improvement in the second half of CY 2024.
$200,000 government co-funding grant awarded for Mick Well carbonatite pipe targets.
Heritage clearances completed at Mick Well subsequent to the Quarter, including the carbonatite pipe targets.
Completion of Boolaloo Project sale to Black Cat Syndicate (ASX:BC8) for a consideration of 2,000,000 fully paid ordinary shares in Black Cat based on a share price of $0.28 per share and valued at $560,000 as well as a 0.50% NSR royalty on any future Au and Cu production.
Cash and investments of approximately $2.3M, including proceeds from the sale of the Boolaloo Project.
Exploration work at Mick Well temporarily scaled-back in light of the prevailing REE market. Temporary delays include drilling previously planned for 1st Half 2024 which has now received government co-funding and is available for drilling commencing from June.
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