Astron Corporation Limited (ASX: ATR) and Energy Fuels Resources (USA) Inc. agree on nonbinding MoU for joint development of Victoria's Donald Rare Earths and Mineral Sands Project. The MoU plans an Australian Joint Venture with Phase 1 targeting 200,000 to 250,000 tonnes/year of HMC and 7,000 to 8,000 tonnes/year of REEC, followed by Phase 2 to double production. Energy Fuels will invest AU$180 million for a 49% interest. They'll have offtake rights for 100% of REEC, and Astron retains an option for HMC offtake.
The exclusivity period until March 2024 allows for due diligence and agreement finalization, potentially extending by mutual consent. Additionally, Energy Fuels gains first refusal for involvement in Astron's Jackson Deposit development, contributing to establishing a Western rare earth value chain. The initiative aligns with Australia's Critical Minerals Strategy by supplying rare earths to Energy Fuels' North American processing sites.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
