Godolphin Resources achieves milestone in rare earth project

Godolphin Resources (ASX:GRL) announced advancements in their Narraburra Rare Earth Element Project. They successfully produced a second Mixed Rare Earth Carbonate with improved purity. The new process includes an Ion Exchange step, removing 98% of uranium impurities.

Summary of Godolphin Resources' announcement

Godolphin Resources announced significant progress in their Narraburra Rare Earth Element Project with the production of a second Mixed Rare Earth Carbonate (MREC-2) that boasts improved purity and similar Magnet Rare Earth Oxides content compared to the first sample. The process now includes an Ion Exchange step, developed in collaboration with ANSTO, which removed 98% of uranium impurities. MREC-2 has a consistent TREO content of 57.8 wt% and high MREO grades, enhancing its marketability. The company plans to start discussions with potential off-take partners by early 2025, aiming to accelerate project development and support Australia's critical minerals supply chain. Godolphin's strategic focus on high-quality REE products positions it advantageously in the growing global critical minerals market.

Executive commentary on Godolphin Resources' progress

The improved quality of MREC-2 positions Godolphin to start discussions with potential off-take partners in early 2025. These discussions are expected to accelerate project development and contribute to Australia's critical minerals supply chain.