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Lodestar Minerals ( (AU:LSR) ) has shared an update.
Lodestar Minerals Limited has announced its acquisition of Arizona Mountain Passage Heavy Rare Earths Pty Ltd, which holds an option to acquire the Virgin Mountain Heavy Rare Earth Project in Arizona, USA. This project is significant due to its high concentrations of valuable heavy rare earth elements, which are increasingly important given China’s recent export restrictions. The strategic location near the Mountain Pass Mine and the potential to supply feedstock for heavy rare earth elements present a substantial growth opportunity for Lodestar. The company has secured $3.25 million in funding from key investors to support this venture, highlighting the project’s potential impact on Lodestar’s operations and positioning within the critical minerals landscape.
More about Lodestar Minerals
Lodestar Minerals Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in acquiring and developing rare earth element (REE) projects, with a market focus on sectors such as defense, magnets, semiconductors, and clean energy.
YTD Price Performance: 178.57%
Average Trading Volume: 4,256,183
Technical Sentiment Signal: Hold
Current Market Cap: A$33.56M
See more insights into LSR stock on TipRanks’ Stock Analysis page.