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Namibia Critical Metals
The project is being developed to provide a sustainable supply of heavy rare earths to Japan.
The new report indicates a1 400% increase in tonnage and a six-fold increase in contained dysprosium and terbium oxide.
Namibia Critical Metals has announced a 650% increase in mineral resources at its Lofdal project
Each Warrant in this second tranche is exercisable into one additional common share at a price of $0.413.
"Prices for dysprosium and terbium oxides continue to strengthen with dysprosium approaching US$300/kg and terbium surpassing US$1,100/kg."
“We are well positioned in key areas of the belt and we are especially excited about the Highlands Target which covers 25km2."
This additional commitment will increase the Term 1 joint venture expenditure from $3,000,000 to $4,100,000 by March 31, 2021.
Erongo is one of three prospective gold projects in the company's portfolio within the belt which hosts the Navachab and Otjikoto mines.
Namibia Critical Metals has announced details of the Term 1 planned work programme for its Lofdal heavy rare earths project in northern Namibia.
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