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NT Rare Earths Project Eyes $8m IPO
5 Dec
Summary
- Barkly Resources plans an $8m IPO for a Northern Territory rare earths deposit.
- The project boasts a low-cost mining potential due to its loose sand deposit.
- A star-studded board includes experienced mining and metallurgy professionals.
Barkly Resources is seeking to raise $8 million through an initial public offering to advance its rare earths deposit located in the Northern Territory. The project, situated in the historic Tennant Creek mining region, presents a compelling investment opportunity due to its substantial inferred resource of 40 million tonnes.
The company highlights the project's unique geological characteristic: a sedimentary-hosted deposit in loose, beach-like sand. This composition is anticipated to enable significantly lower mining and processing costs compared to conventional methods. Furthermore, the deposit contains a notable 34% of valuable magnet rare earths, crucial for modern technologies like electric vehicles and wind turbines.
Complementing the project's potential is a strong management team, featuring executive chairman Gavin Lockyer, formerly of Arafura Rare Earths. The board also includes seasoned professionals in metallurgy and project development, poised to steer the company toward its resource expansion and exploration goals following its expected ASX listing.
