Australian Rare Earths (ASX:AR3) has received a $771,000 research and development (R&D) tax incentive for the work being carried out at its Koppamurra Rare Earth Project in South Australia.
The $18.50 million market capitalisation company is conducting extensive metallurgical research and process development activities to optimise how rare earths will be extracted from Koppamurra.
This work is considered to be a ‘key’ component to commercially developing Koppamurra, as a secure and reliable source of Australian rare earths.
Australian Rare Earth’s Koppamurra project has a current mineral resource of 186 million tonnes and an average total rare earth oxide grade of 712 parts per million.
The project lies in the Koppamurra province which is considered one of the ‘largest’ ionic clay-hosted rare earth provinces in Australia.
Australian Rare Earths is a rare earths-focused explorer that is actively reviewing potential prospective areas that host ironic clay-hosted rare earth deposits in Australia.
As of 31 December 2023, the company had $10.53 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Australian Rare Earths
