Victory Metals ships heavy rare earth concentrate samples to potential offtake partners
ASX-listed Victory Metals has successfully dispatched heavy rare earth concentrate to potential offtake partners in Australia, Japan and the US for independent product examination.
The company operates a flotation pilot plant, in Perth, which continues to deliver heavy rare earth-enriched concentrate under continuous operating conditions at ambient temperatures.
The independent examination and qualification of Victory's concentrate is a key commercial step towards securing offtake agreements.
Victory says its concentrate's premium dysprosium, terbium and yttrium content aligns directly with the critical needs of Western supply chains.
CEO and director Brendan Clark confirms the pilot plant has moved from a commissioning milestone to consistent, reliable operation and that the company's heavy rare earths product is now being assessed by the very groups that need it most.
Meanwhile, Victory has provided an update to its prefeasibility study (PFS) on the North Stanmore rare earths project, in Western Australia, finding that a substantial volume of material at the project previously logged as saprock is, in fact, saprolite.
Having evaluated pilot plant operations and reviewed geological data, Victory says saprolite is the ore type on which the company's metallurgical testwork, including its flotation and leach programmes, has been based, and that the correction of this classification means that a substantial volume of additional saprolite is now available for inclusion in the projects PFS.
This will offer additional economic benefits to North Stanmore.
The PFS is expected to be completed in August.
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