- Ionic Rare Earths (IXR) has increased its share of the Makuutu rare earths project to 46 per cent after the achievement of earn-in milestones
- Ionic has increased its interest by 15 per cent after spending a further US$800,000 (around A$1.1 million) on exploration at Makuutu
- The company previously upped its stake to 31 per cent in late-March with a US$650,000 (around A$900,000) spend
- Ionic must spend a further US$250,000 (roughly A$347,000) to claim a 51 per cent stake in the project
- The remaining nine per cent will come when IXR delivers a bankable feasibility study for the project, bringing its share to the agreed minimum of 60 per cent
- Ionic will continue to explore Makuutu while also seeking strategic financing and offtake arrangements
Ionic Rare Earths: Increases Makuutu ownership to 46pc
