Highlights

Under the MoU, GMAB will supply eudialyte samples from the Norra Kärr deposit to Ascension, which will conduct comprehensive laboratory analysis and processing testwork using its proprietary technology.

The collaboration aims to assess the technical and comm ercial feasibility of rare earth extraction and recovery from the HREE bearing eudialyte mineralisation at Norra Kärr.

The Evaluation Project will focus on:

• Conducting detailed analysis of eudialyte samples to determine composition, purity, and recovery potential.

• Testing leach behaviour and assessing suitability for comm ercial- scale processing

• Developing preliminary processing concepts tailored to the Norra Kärr mineralisation

• Evaluating the comm ercial viability of rare earth extraction.

Kurt Budge CEO comments:

“This partnership represents an important step forward in advancing the Norra Kärr HREE Project.

By combining our world-class resource with Ascension’s innovative processing technology, we aim to unlock new possibilities for sustainable heavy rare earth production in Europe.

We already have a PFS flowsheet from 2015 to produce mixed rare earth oxide but we are enthusiastic about trying new innovative m ethods, such as the ones being developed by Ascension, to maxim ise the recovery of heavy rare earth elem ents from Norra Kärr.”