Australian Rare Earths (ASX: AR3) – Koppamurra REE SA

COMPANY SCOREBOARD

Pro Plus	Pro	Con Plus	Con
Supportive macro environment	Directors skin in the game	Low grade and low high-value REE deposits

ABOUT COMPANY

Australian Rare Earths (AR3) (https://ar3.com.au/) develops the Koppamurra REE Project in South Australia.

The company was listed in June 2021 by raising $12m@30c, the REE assets was valued for 70m shares.

CAPITAL STRUCTURE


ASX Code	Share Price	Shares	Option (In)	Market Cap	Cash/Asset ($m)
AR3	0.13	153272088		19925371.44	10.1/0


Holders No	Top 20 (Cur)	Top 20 (Pre)	Director Hold	Performance Right	Note
1843	64.73%		22.51%		last raise $11.1m@45c

In June 2023, the company appointed an accountant as its new CEO.

FLAGSHIP ASSETS

Koppamurra REE Project SA

September 2023 resources estimates came to 186Mt@712ppm with even less in the measured category.

Below are the project’s resources (2022), note that the company adopted a lower cut-off grade to estimate resources:

SUMMARY

The current resource grades are not feasible.