European Resources Expands Korsnäs Mineral Resource and Faces Funding Needs
European Resources has increased its Inferred Mineral Resource at Korsnäs to 15.4 million mt with a grade of 1.00% TREO. ANSTO Minerals has reported an overall rare earth recovery rate of 83%, although heavy rare earth recovery remains low, indicating potential operational challenges.
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European Resources announced an increase in its Inferred Mineral Resource at Korsnäs to 15.4 million mt, with a grade of 1.00% TREO. The company has established a conceptual exploration target ranging from 18 million to 32 million mt.
ANSTO Minerals reported an overall rare earth recovery rate of 83%, with specific recovery rates of 88% for praseodymium and 83% for neodymium; however, recovery rates for heavy rare earths, including dysprosium and terbium, were below 50%. As of the quarter's end, European Resources had A$1.76 million in cash, which is projected to cover operations for approximately 2.47 quarters, indicating a need for further funding. This financial situation poses risks to ongoing projects and operational sustainability.
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