Namibia Rare Earths Inc. (TSX:NRE) is a Canadian public company listed on the Toronto Stock Exchange which is focused on the accelerated development of its 100% held Lofdal Rare Earth Project in Namibia.
Lofdal is an early stage, district scale exploration project. The permit area covers 420 kmē and within this area geologists have discovered widespread rare earth mineralization in a carbonatite complex which covers over 200 kmē. The property has demonstrated a potential for the discovery of multiple rare earth deposits with a unique opportunity for the discovery of deposits that are exceptionally enriched with heavy rare earths.
In April 2011, the Company completed a CDN $28.75 million initial public offering and listing on the Toronto Stock Exchange. Exploration drilling was completed on a number of planned targets within a 50 kmē portion of the Lofdal carbonatite complex.The most prospective target from this program was Area 4, which was selected for more detailed drilling to develop the initial National Instrument 43-101 compliant resource, which was released in September 2012. In October 2014, the Company announced the results of the preliminary economic assessment on the Area 4 of Lofdal which concluded that the Lofdal Project currently has the potential to produce an average of 1,500 tonnes per annum of separated rare earth oxides which would generate after tax cumulative cash flow of US$259M with a net present value10% of US$148M and an internal rate of return of 42%. The PEA indicates that there is considerable potential to expand the current mineral resource and recommends that additional drilling be carried out to provide for an extended mine life in conjunction with a six month prefeasibility study program.
|Listing:||Toronto Stock Exchange ("NRE) and OTCQX ("NMREF")|
|Head Office:||Halifax, Nova Scotia|
|Corporate Head Office:||Suite 306, Royal Bank Building|
1597 Bedford Highway
Halifax, NS B4A 1E7
|Namibian Office:||Namibia Rare Earths (Pty) Limited|
828 Dalton Street, Southern Industrial
P.O. Box 31694
Windhoek, Namibia 9000
|Legal Counsel:||McInnes Cooper|
|Transfer Agent:||Computershare Trust Company|