#RareEarth #Mining Sector Alert - Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Neodymium/Praseodymium rich deposit recent news; The prices for magnetic materials in #China skyrocketed in November @DefenseMetals
Vancouver, British Columbia – November 30, 2020 Investorideas.com Newswire – Rare earth sector alert for -Defense Metals Corp. (TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D)- Rare earth prices are rising in China, Defense Metals Neodymium/Praseodymium rich deposit reports news.
Read this news
featuring DEFN in full at https://www.investorideas.com/news/2020/mining/11301DEFN-Neodymium-Praseodymium.asp
Sector News: China rare earth prices spike on magnet
demand, export control fears
National
Post reports: “Prices of rare earth
magnet raw materials have surged in China this week as analysts say a recovery
in coronavirus-hit demand overseas and concerns over potential export controls
have led to increased buying.
China is the
world’s top producer of rare earth magnets, used in everything from wind
turbines to military equipment.
One of the three
key magnet raw materials, terbium oxide, rose to 6,130 yuan ($932) per kg on
Thursday, the highest since June 2012, and is up 26% so far this month.
Praseodymium-neodymium
(PrNd) oxide touched a three-year peak on Wednesday and dysprosium oxideon
Thursday hit its highest since June.
The spike was due
to strong magnet demand and the looming introduction on Dec. 1 of China’s
potential export controls on critical minerals, Dylan Kelly, an analyst at
Sydney-based brokerage Ord Minnett, said in a note to clients.”
Original
source
The prices for magnetic materials in China skyrocketed this week, and overall for November this is the picture:
Original
source: https://treo.substack.com/p/re-price-continue-skyrocketing-re
Recent
Company News: November 23-
Defense Metals Corp. Initiates Pre-Pilot
Hydrometallurgical Optimization for its Rare Earth Elements Project
Defense Metals Corp. (TSX-V: DEFN
/ OTCQB: DFMTF
/ FSE: 35D) is pleased to announce that
it has commissioned SGS Canada Inc. ("SGS") to complete additional
pre-pilot hydrometallurgical test work utilizing high-grade rare earth element
(REE) mineral concentrate produced during the Company's highly successful 26
tonne flotation pilot-plant that yielded a mineral concentrate averaging 7.4%
NdPr oxide (neodymium-praseodymium) (see Defense Metals news release dated
September 23, 2020).
Craig Taylor, CEO comments:
"The previously closed $0.25 per share private
placement financing will be used to conduct additional fill-in
hydrometallurgical test-work with the objective of capitalizing on
opportunities that have been identified to optimize and improve on our already
exceptional hydromet recoveries. As previously disclosed, we intend to complete
the preliminary economic assessment (PEA) by the end of the Q1 2021."
Full news: https://ca.finance.yahoo.com/news/defense-metals-corp-initiates-pre-130000703.html
About
Defense Metals Corp. https://defensemetals.com/
Defense
Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits
containing metals and elements commonly used in the electric power
market, military, national security and the production of “GREEN” energy
technologies, such as, high
strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare
Wicheeda Rare Earth Element Property located near Prince George, British
Columbia, Canada. Defense Metals Corp.
trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the
United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt
Exchange under “35D”.
For further
information, please contact:
Todd
Hanas, Bluesky Corporate Communications Ltd.
Vice
President, Investor Relations
Tel:
(778) 994 8072
Email:
todd@blueskycorp.ca
Forward Looking
Information
This
news release contains “forward‐looking information
or statements” within the meaning of applicable securities laws, which may
include, without limitation, statements relating to finding partnerships,
securing potential offtake agreements, and other business opportunities, the
technical, financial and business prospects of the Company, its project and
other matters. All statements in this news release, other than statements of
historical facts, that address events or developments that the Company expects
to occur, are forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in the
forward-looking statements. Such statements and information are based on
numerous assumptions regarding present and future business strategies and the
environment in which the Company will operate in the future, including the
price of rare earth elements, the ability to achieve its goals, that general
business and economic conditions will not change in a material adverse manner,
that financing will be available if and when needed and on reasonable terms.
Such forward-looking information reflects the Company’s views with respect to
future events and is subject to risks, uncertainties and assumptions, including
those filed under the Company’s profile on SEDAR at www.sedar.com. Factors that
could cause actual results to differ materially from those in forward looking
statements include, but are not limited to, continued availability of capital
and financing and general economic, market or business conditions, adverse
weather conditions, failure to maintain all necessary government permits,
approvals and authorizations, failure to maintain community acceptance
(including First Nations), decrease in the price of rare earth elements, the impact
of Covid-19 or other viruses and diseases on the Company’s ability to operate increase
in costs, litigation, and failure of counterparties to perform their
contractual obligations. The Company does not undertake to update forward‐looking
statements or forward‐looking information, except as required by
law.
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