Momentum Building for Canadian Rare Earths Miner

by Mike Fagan

Mike Fagan

Defense Metals (TSX-V: DEFN)(OTC: DFMTF) — trading firmly above C$0.70 per share — has engaged Welsbach Holdings to advance its Wicheeda Rare Earth Elements (REE) Project near the town of Prince George in British Columbia, Canada.

The 4,220-acre Wicheeda REE project boasts an indicated mineral resource of 4.9 million tonnes averaging 3.02% LREO [Light Rare Earth Elements] and an inferred mineral resource of 12.1 million tonnes averaging 2.90% LREO.

REE stocks have been gaining traction of late as China — which has a global stranglehold on rare earth metals production — threatens to cut off the US [just like they did to Japan a decade ago] and further boosted by increased requirements by the US Defense Department to gain and maintain unimpeded access to these critical defense elements.

To that end, and as one of only a handful of large-scale, high-grade REE deposits on North America soil, DEFN/DFMTF shares have been trending significantly higher in Q1 2021 — in fact, more than tripling in recent trading — on strong average daily trading volume as illustrated by the 12-month chart below.

defense metals

The engagement of Welsbach Holdings — a global leader in technology metals project development and supply chain management — is an important step in Defense Metals’ continued advancement of Wicheeda particularly in terms of acquiring future financing for eventual construction of the project via the procurement of strategic offtake agreements.

Defense Metals CEO, Craig Taylor — whom you’ll be hearing more from in just a moment — commented via press release:

“The engagement of Welsbach will enable Defense Metals to leverage their extensive experience and relationships in the Asia-Pacific region ( Australia , Singapore , China , Japan , and South Korea ), Continental Europe, and the United States towards engaging in one-on-one discussions with REE refiners and separators. The goal is the successful negotiation of one or more binding commercial REE offtake and/or other supply chain agreements with respect to the Wicheeda REE Deposit. Welsbach will immediately commence its work aiding with respect to strategic partner identification, business introductions, and ultimately commercial negotiations.”


Defense Metals is working toward completion of a PEA (Preliminary Economic Assessment) on its Wicheeda REE project wherein the company recently undertook flotation pilot-plant processing of a 26-tonne bulk sample, which yielded a mineral concentrate averaging an impressive 7.4% NdPr oxide (neodymium-praseodymium) critical magnet metals.

Wicheeda Plan Deposit View

Wicheeda

Additionally, Defense is making final preparations for the resumption of resource expansion drilling at Wicheeda — which means speculators can expect plenty of news flow in the coming quarters.

Our own Gerardo Del Real of Junior Resource Monthly caught up with Defense Metals CEO, Craig Taylor, to discuss the Welsbach agreement as well as the excellent infrastructure onsite at the flagship Wicheeda REE project. You can listen (or read the transcript) to the interview here.

Be sure to also click here for our most recent report on Defense Metals.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest


Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.