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Vital Metals (ASX:VML) - Managing Director, Geoff Atkins (left)
Managing Director, Geoff Atkins (left)
Source: Vital Metals
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  • Vital Metals (VML) has produced a rare earth carbonate sample within specification at its Nechalacho Project in Canada
  • The sample satisfies target impurity levels set by the company’s definitive offtake agreement with Norwegian rare earth separation company REEtec AS
  • Vital Metals has commenced a bulk customer sample production program, to generate rare earth carbonate for REEtec and other prospective customers
  • Carbonate from the program should be available for transportation to REEtec and the company’s potential customers by mid-March 2021
  • Vital Metals is up 11.63 per cent and trading at 4.8 cents per share

Vital Metals (VML) has produced a rare earth carbonate sample within specification at its Nechalacho Project in Canada.

The company’s Nechalacho Rare Earth Project is located in Canada’s northwest territories. Vital Metals commenced drilling at the project just last week, as part of the company’s progress towards rare earth production in the 2021 calendar year.

Earlier this month, the company executed a definitive offtake agreement with Norwegian rare earth separation company REEtec AS. The rare earth carbonate sample which came from Nechalacho satisfied the target impurity levels which were set down in the agreement.

Vital Metals’ Managing Director, Geoff Atkins, called the development an important milestone for the company.

“It has allowed us to finalise the process flowsheet and commence our program to provide samples of our product to our off-take partner REEtec in Norway, as well as other potential customers,” he said.

“REEtec can use the sample as part of customer acceptance protocols as outlined in Vital’s agreement with the company,” he added.

Having successfully produced a rare earth carbonate that meets REEtec’s impurity standards, Vital Metals has now commenced a bulk customer sample program. Through the program, the company will provide rare earth carbonate samples to REEtec and other prospective customers. 

Carbonate from Vital’s bulk customer sample program should be produced and available by mid-March 2021.

Vital Metals is up 11.63 per cent, trading at 4.8 cents per share at 12:06 pm AEDT.

VML by the numbers
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