Defense Metals Corp. (DFMTF) – Hiding in Plain Sight?

Wednesday, February 14, 2024

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Wicheeda REE project. Defense Metals is advancing its 100%-owned Wicheeda rare-earth project located near Prince George, British Columbia that has the potential to be a globally significant producer. The project has important advantages, including a mining-friendly location within North America, access to well-developed infrastructure and logistics, and a strong technical team. While China remains the largest global supplier of rare earths, Wicheeda is well-positioned to take a leading role in the North American and Global REE supply chain. Once the project commences commercial production, it is expected to produce ~25,000 tonnes of rare earth oxide annually, or roughly 10% of current global production.

Significant milestone ahead. Defense Metals expects to complete a preliminary feasibility study (PFS) in the second calendar quarter of 2024 for which metallurgical test work has been completed. Bench-scale and hydrometallurgical pilot plant test work indicate that the planned acid bake process will deliver approximately 90% total rare earth oxide (TREO) extraction from the mineral concentrate to a mixed rare earth carbonate product. Eleven mixed rare earth precipitate samples from the hydrometallurgical test-work have been sent to potential partners, processors, or end users.

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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.