Venture Minerals (ASX:VMS) is now known as Critica Limited (ASX:CRI) with its rebrand effective from today (12 September).
Shareholders approved the change of name at a general meeting on 22 August 2024, and the company began trading under the new name and ticker this morning.
Managing Director Philippa Leggat says the new name reflects the company’s focus on discovering and developing critical mineral deposits to feed global demand for the minerals that are vital to modern technology and the green energy transition.
“Minerals that have important uses with no viable substitutes and face the potential for supply chain disruption are defined by the US Geological Survey as being critical to a nation’s economic and national security,” she says.
The rebrand follows the acquisition of the remaining 30% of the Jupiter Project in Western Australia from its joint venture partner Merchant Ventures.
Jupiter, which is a clay-hosted rare earth discovery, is part of the larger Brothers Project.
Critica says a resource drill out program demonstrates that “high-grade” mineralisation, with low thorium and uranium levels, occurs across the entire 40km2 area of Jupiter.
“We’re funded to advance our exciting Jupiter Rare Earth Project while rare earths pricing is low, presenting the opportunity for a more defined value proposition when the cycle turns,” Leggat says.
“We’re more than halfway through the drilling program, metallurgical test work is underway, and we’re targeting our maiden resource by the end of the year. There is a plethora of news to come.”
Jupiter sits 250km east of Geraldton and is located near Lynas Rare Earths’ (ASX:LYC) concentrator under construction at its Mount Weld site and Iluka Resources (ASX:ILU) proposed facility at Eneabba.
Write to Angela East at Mining.com.au
Images: Critica Limited
