American Rare Earths Share Price Rose 8% Due to La Paz Project
- Category: tungsten‘s News
- Published on Sunday, 22 August 2021 21:02
After American Rare Earths Ltd announced a significant increase in the rare earth grade at its La Paz project, the company's stock price opened higher on Tuesday. Its share price surged 8% to 15.5 cents after the opening.
Regarding the surface samples from the La Paz rare earths project in Arizona, the American Rare Earths announced its total rare earth element (TREE) concentration test results.
The La Paz Rare Earths Project was founded in August 2019 with the initial US claims purchase in La Paz County, Arizona, approximately 105 miles northwest of Phoenix and 16 miles northeast of Bouse.
Preliminary testing work shows that plant feed materials can be reduced by 76.3% while recycling 74.7% of available TREE and 43.8% of available scandium.
The company observed that the TREE level will increase from 552 parts per million (ppm) to 1.774 ppm, an increase of 216%, while the scandium grade has also increased from 16 ppm to 30.4 ppm, an increase of 90%.
American Rare Earth Managing Director Keith Middleton expressed satisfaction with the results. He said: "ARR is extremely pleased with the preliminary test results at La Paz. These results demonstrate that ore material from La Paz can be effectively concentrated using proven technologies.
Reducing ore material by 76% while recovering nearly 75% of TREE, with a 216% increase in TREE grade, is an important step in the technical evaluation of La Paz, where we plan to deliver low-cost rare earth elements, for the US domestic and military supply chain."
Due to the core position of rare earths in many important fields in the future, like the plane and smartphone, global demand for rare earth elements is expected to continues to rise. The companies related to the rare earths may be easier to get sponsors and support after the satisfactory result from the rare mine.
The company’s stock price soared by more than 200% between October 5th and 7th last year, when a new US Presidential Executive Order was issued declaring a "national emergency" and the country increased its mining and processing capabilities for key metals.
Recently, as La Paz project’s indicated resource estimate soared by three digits, the share price of American Rare Earths soared 88% in August.
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