• American Rare Earths excites investors with resource estimate for US rare earths project
  • Riversgold selected to trial CSIRO-invented gold sampling technology
  • Prospect Resources starts building lithium mine processing plant in Zimbabwe


ASX rare earths, coal and gold stocks are leading the small cap resources winners in morning trade Wednesday, November 11.


American Rare Earths (ASX:ARR) jumped on unveiling a 128.2 million tonnes at 373.4 parts per million JORC resource estimate for its Las Paz rare earths project in the US state of Arizona.

La Paz is “potentially the largest rare earths project in America” said the company which is the only US rare earths ASX-listed company. American Rare Earths has another US rare earths project in Laramie in Wyoming.

ARR chairman, Creagh O’Connor, said US president-elect Joe Biden has pledged $US2 trillion of spending on a Clean Energy Plan and has signalled his support for domestic rare earths and critical minerals mining to boost critical minerals production.

“This multi-point entry into this market comes at a time when the US government has prioritised critical minerals, such as rare earths as strategic to that nation’s future, seeking as it does to reduce its reliance on China’s dominant global market hold,” he said in his chairman’s address to shareholders, Wednesday.

Tesla recently indicated it wanted to source more of its battery component minerals from domestic sources.



Shares in Australian Pacific Coal (ASX:AQC) leapt despite local horse breeders moving to formally oppose development consent for its proposed Dartbrook coal mine in NSW.

The Hunter Thoroughbred Breeders’ Association has notified the company it will join legal proceedings in the NSW Land and Environment Court on its Dartbrook mine.

The company said it will oppose the HTBA’s application that also seeks to delay or prevent the finalisation of an agreement AQC has reached with the NSW Minister for Planning and Public Spaces.

The agreement only becomes effective once the NSW Land and Environment Court has finished its proceedings.

Australian Pacific Coal is seeking the court’s permission to extend development consent for its proposed mine in the Hunter Valley coalfield region for another five years out to December 2027.

Dartbrook will be a thermal coal mine and prices for the fossil fuel are struggling as Asia economies move to decarbonise.



Red River Resources (ASX:RVR) had a good morning on the ASX, after announcing it had defined an extensive high-grade silver-indium system at its Orient project in northern Queensland.

The system was defined from sampling and mapping work at the Orient project and has confirmed a high priority silver target in the Orient East prospect that was drilled previously but not followed up.

Samples from Orient West returned an average grade of 357 grams per tonne silver and 241 g/t indium, and at 240 g/t silver and 88 g/t indium in Orient East.



Investors reacted well to Riversgold’s (ASX:RGL) announcement that it has formed a partnership with the firm working to commercialise CSIRO-invented detectORE technology.

DetectORE is used to detect low-level gold concentrations down to ~10 parts per billion using a conventional XRF analyser.

The company will be the first exploration company to try out the technology, including field trials.

Riversgold plans to use detectORE on all types of samples as a first pass qualitative filter and selection tool for samples.

“Having seen the technology at work in the field recently, it is clear that detectORE has the potential to revolutionise the gold exploration industry,” executive director, Xavier Braud, said.

The technology has a quicker turnaround for sample analysis compared with traditional sample analysis techniques.



Prospect Resources (ASX:PSC) gained in Wednesday trade as it starts a pilot plant at its Arcadia lithium mine in Zimbabwe.

The plant will demonstrate the company’s ability to produce high purity petalite and spodumene concentrate at planned volumes.

“The pilot plant delivers a number of key objectives for customers, project finance parties and investors in de-risking the Arcadia project,” managing director, Sam Hosack, said.

Samples of 500 tonnes and 120 tonnes respectively of petalite and spodumene will be sent to potential off-take customers for product qualification purposes.

“Prospect has unique geology at Arcadia allowing for production of high purity products that attract premium pricing from both the technical and chemical market,” he said.