Building a Critical Supply of Clean Energy & Defense Metals
by Mike Fagan
Defense Metals (TSX-V: DEFN)(OTC: DFMTF) — currently trading below C$0.35 per share — has now received requests for high-grade mineral concentrate samples from its flagship Wicheeda Rare Earth Element (REE) project, British Columbia, Canada, from a total of four global REE refiners.
The Wicheeda project boasts a large resource of 4.9 million tonnes Indicated at 3.02% LREO (Light Rare Earth Elements) plus 12.1 million tonnes Inferred at 2.90% LREO; the elements are used primarily in the production of high-strength alloys and magnets with advanced applications in the defense and clean energy sectors.
The company recently enlisted Welsbach Holdings — a global leader in technology metals project development and supply chain management — to seek out partners for potential offtake sales agreements, and that strategy is beginning to pay off in a big way.
Defense Metals CEO, Craig Taylor — whom you’ll be hearing more from in just a moment — commented via press release:
The sample material will come from Defense’s stockpile of 1,200 kilos of high-grade concentrate which is being warehoused at SGS labs in Vancouver BC.
The Defense Metals team continues to make important strides in de-risking the Wicheeda project including the engagement of globally-renowned SRK Consulting to complete an economic scenario analysis for the project.
Upon completion of that study, Defense will move towards a PEA (Preliminary Economic Assessment) with resource expansion drilling slated to resume in the summer.
With China’s decades-long cornering of the global rare earths market, Defense Metals offers speculators exposure to an exceptionally well-run company that’s advancing a strategically located REE deposit — within the safe confines of western Canada — with excellent infrastructure in-place including roads, power, and rail.
Our own Gerardo Del Real of Junior Resource Monthly sat down with Defense Metals CEO, Craig Taylor, to talk about the steady stream of mineral concentrate requests and the next-steps in the advancement of the Wicheeda REE project. You can listen in to that interview here (transcript is also available).
Be sure to also click here for our most recent report on Defense Metals.
Yours in profits,
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.