Ionic Rare Earths - IXR(ASX) News & Expert Insights from Stockhead

Ionic Rare Earths Limited (ASX: IXR) is developing the Makuutu Rare Earths Project (Makuutu) to be a globally significant producer of the both Heavy Rare Earths Oxides (HREO) and Critical Rare Earth Oxides (CREO), providing a viable large scale, low cost alternative supply chain outside of China.

The Company presently owns 31% of the Makuutu Rare Earths Project and will move to 60% ownership through an earn-in arrangement.

Makuutu, located 120 km east of Kampala, Uganda, is an ionic clay hosted rare earth element (REE) deposit, with mineralisation stretching 26km within the Company’s tenure. The deposit is shallow and therefore inexpensive to mine. Additionally, processing will be very simple with the ionic REE desorbed (washed) from the clay into solution where it is extracted to make a high purity intermediate REE product, with the product basket containing high proportions (> 50%) of the critical rare earths Dy, Nd, Pr, Tb and Y.

The current aim to is to develop Makuutu to production in a staged approach, enabling rapid commercial production. Production will be increased through the additional of parallel modules. This vision will likely position Makuutu as one of the lowest cost rare earth production operations in the world, and a key strategic supplier of both CREO and HREO products to downstream users.

KEY PEOPLE

A P Rovira (BSc (Hons), MAusIMM) – Chairman

Mr Rovira has over 30 years technical and management experience in the mining industry, as an exploration and mining geologist, and as a company executive at Board level. The Association of Mining and Exploration Companies awarded Tony the “Prospector of the Year Award” for the Cosmos nickel discovery.

M J Steffens (B Eng (Minerals Engineering, Hons1), Ph.D, AusIMM) – Technical Director

Mr Steffens is a mineral engineer with a PhD in Metallurgy from the WA School of Mines. His experience covers a broad range of commodities and includes areas of project evaluation, project management and process development.

B D Dickson (B. Bus, FCPA, FGIA, MAICD) – Finance Director

Mr Brett Dickson has over 20 years’ experience focusing on the start-up, restructuring, management, growth and financing of emerging publicly listed exploration and mining companies.

Mr Dickson has a Bachelor’s degree in Economics and Finance and is a Fellow of the Australian Society of Certified Practising Accountants.

T J Harrison (B Eng (Chemical), FAusIMM) – Makuutu Rare Earths Project Manager

Mr Tim Harrison has 20 years’ experience in the mining industry, focusing on project development through concept to operations across a broad range of commodities. He has a Bachelor’s degree in Chemical Engineering from Adelaide University and is a Fellow of the Australasian Institute of Mining and Metallurgy.