ARK Mines Ltd (AU:AHK) has released an update.
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Ark Mines Ltd has announced promising results from its Sandy Mitchell Rare Earths Project Scoping Study, confirming the project’s commercial viability and revealing plans to move forward with a Pre-Feasibility Study in 2025. The study highlights projected annual revenues of AUD 120-130 million and a post-tax capital payback within three to four years, although securing the necessary AUD 120-150 million funding remains a challenge. The company is exploring various funding strategies and remains optimistic about the project’s potential in the rare earth and heavy minerals market.
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