is poised to be a leader in a dynamic
In the country of Namibia we are developing a significant exploration find that shows exceptional early results. The Lofdal Rare Earth Project comprises a 200 kmē carbonatite complex with exceptional heavy rare earth-enrichment (>80%), opening the door for the discovery of a world class heavy rare earth deposit.
After successfully raising CDN $28.75 million in our company IPO in April 2011, we immediately carried out a 9,500m exploration drilling program and by the end of 2011 our team had selected their first target to develop into a 43-101 compliant mineral resource. In September 2012, we announced the first rare earth mineral resource for Lofdal with an exceptional level of 85% heavy rare earth enrichment. This was a remarkable achievement in a very short period of time - and it is just the beginning.
The world needs rare earths to go green. With our discovery in Namibia, we see a world-class opportunity to realize that goal.