Koppamurra metallurgical test work progressing well

Highlights:

• Successful Mixed rare earth oxide (MREO) production: 1,800L of Pregnant Leach Solution (PLS), produced from ~3-tonne heap leach testwork, has delivered ~34kg of MREO, an intermediate step to producing a Mixed Rare Earth Carbonate (MREC).

• Flexible processing pathway: Results confirm significant reduction in material moving through downstream processes, providing potential for streamlined production of a MREC.

• High magnet rare earth (MRE) recoveries: MRE recoveries of 99% achieved through simple, low-cost direct precipitation from PLS to MREO.

• Strong basis for cost efficient processing: Intermediate step potentially reduces equipment size and reduces cost required for downstream Impurity Removal (IR) and MREC production.

• Next steps: Additional testwork, including optimising the intermediate MREO re- dissolution and impurity removal steps will enhance the production of a high-quality MREC, with results to inform the Pre-Feasibility Study (PFS).

• Government Co-Funding Grant: Testwork program is co-funded under the $5 million Australian Government grant from the International Partnerships in Critical Minerals Program.