Godolphin Resources Achieves Cleaner MREC Production at Narraburra REE Project
GRL (GRL) Share Update December 2024 Monday 9th
Godolphin Resources Advances Narraburra REE Project with Cleaner MREC Production
Godolphin Resources Limited (ASX: GRL) has announced a significant advancement in its Narraburra Rare Earth Element (REE) Project with the successful production of a second, cleaner Mixed Rare Earth Carbonate (MREC-2).
Instant Summary:
- Successful production of second Mixed Rare Earth Carbonate (MREC-2) with fewer impurities.
- MREC-2 contains similar Magnet Rare Earth Oxides (MREO) content as MREC-1 but with 98% less uranium.
- High recovery rate of 67% for MREO from feed to MREC.
- MREC-2 positions Godolphin for discussions with potential off-take partners.
Project Progress
Godolphin Resources has made significant strides in its Narraburra REE Project by producing a second Mixed Rare Earth Carbonate (MREC-2) with enhanced purity. This development follows the inclusion of an Ion Exchange (IX) step in the process flow sheet, which successfully removed 98% of uranium from the purified leach solution, resulting in a total uranium content of just 7ppm in MREC-2.
The MREC-2 product boasts similar Magnet Rare Earth Oxides (MREO) grades of 14.8 wt% compared to 14.2 wt% in the previous sample (MREC-1). The total Rare Earth Oxide (TREO) content remains consistent, with MREC-2 at 57.8 wt% and MREC-1 at 57.6 wt%.
Impurity Reduction and Recovery
The IX process was a critical addition, not only reducing uranium content but also maintaining negligible losses in MREO and TREO. The overall recovery of MREO from feed to MREC stands impressively at 67%, demonstrating the efficiency of the process.
Both MREC products, particularly MREC-2, exhibit lower impurities than those from most other clay-hosted REE projects, setting them apart in the market. This positions Godolphin Resources favorably for initiating discussions with potential off-take partners, with plans to accelerate these talks early in 2025.
Strategic Implications
According to Managing Director Ms. Jeneta Owens, this cleaner product underscores the Narraburra project's potential and Godolphin's capability to produce a high-quality, saleable product. The company is optimistic that the composition of MREC-2 will bolster discussions with potential partners and contribute positively to Australia's critical minerals supply chain.
The production of a cleaner MREC-2 is a positive development for Godolphin Resources, potentially enhancing its market position and attractiveness to off-take partners. The reduced impurity levels, particularly the significant reduction in uranium content, could lead to increased demand for the company's products.
Investor Reaction:
Investors and analysts are likely to view this development favorably, as it demonstrates Godolphin's technical capability and potential for future partnerships. The cleaner MREC-2 product could lead to strategic alliances, further boosting investor confidence.
Conclusion:
Godolphin Resources' latest achievement in producing a cleaner MREC-2 highlights the company's commitment to advancing its Narraburra REE Project. Investors should watch for further updates on off-take discussions and potential partnerships that could drive future growth.