Critica pockets $1m R&D boost to supercharge rare | Australian Markets

ASX-listed Critica Limited has pocketed a cool $1.05 million refund from the Australian Tax Office below the Research and Development Tax Incentive Program.

The funds might be used to turbocharge the company’s plans to push forward with its thrilling rare earths project in Western Australia’s Mid West area.

The refund has strengthened the company’s already strong money kitty, which sat at $6M on the finish of December. The funds will straight fuel the company’s metallurgical take a look at work and satellite tv for pc drilling applications at its wholly owned Brothers clay-hosted rare earth project, together with its flagship Jupiter prospect.

The additional money injection seems to have landed at precisely the precise time because the company continues to push ahead with research to back up some eyebrow-raising findings revealed earlier this 12 months and works in direction of producing a blended rare earth carbonate product.

Those initial outcomes confirmed that materials from Jupiter might be upgraded by 830 per cent. Test work on a pattern from Jupiter’s mineralisation has delivered a beautiful consequence, turning an initial grade of 1430 elements per million (ppm) complete rare earth oxides (TREO) into a turbocharged focus grading 13,310ppm TREO.

The company stated the easy flotation course of used managed to supercharge the grade to more than 9 occasions the unique head grade, highlighting simply how straightforward the clay-hosted deposit might be to course of.

Notably, even after stripping out 94.5 per cent of the majority materials, the remaining focus nonetheless posted an spectacular rare earths restoration price of more than 50 per cent earlier than any additional optimisation.

The mixture of a huge uplift within the grade and a discount in waste might dramatically sharpen future project economics and reshape the company’s worth proposition.

The metallurgical workstreams in progress are focused to construct on the excellent initial beneficiation outcomes we introduced earlier this 12 months. The outcomes demonstrated the potential to improve consultant Jupiter mineralisation by nearly ten occasions whereas decreasing total materials mass by roughly 95%.

The Brothers project – and Critica’s Jupiter discovery particularly – have rapidly emerged as standout clay-hosted rare earths performs in Australia’s booming crucial minerals space.

Critica just lately revealed a big 1.8 billion tonne maiden world useful resource grading 1700ppm TREO at Jupiter.

The eye-watering useful resource, which was crunched by world heavyweight SRK Consulting, contains a hefty 500 million tonnes sitting at a high-grade 2200ppm TREO, utilizing an spectacular cut-off grade of 1800ppm.

Management says the near-surface and remarkably constant nature of the globally vital deposit has thrown open a world of choices for future processing and development.

Critica says the R&D refund and the broader Australian Government help for early-stage project development work have been robust endorsements of the company’s efforts to create and shield mental property round rare earths processing.

Given current geopolitical occasions, which have seen a dramatic adjustment within the provide chain for crucial metals, the work can also be in step with a broader authorities push to shore up different provide chains for key ingredients utilized in electric automobiles, renewable power and defence applied sciences.

With a beefed-up steadiness sheet, compelling early ends in hand and a clear runway for more technical breakthroughs, Critica appears poised to punch nicely above its weight within the race to feed the world’s insatiable urge for food for crucial minerals.

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