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Axel REE Limited (ASX:AXL)

ALERT: Price-sensitive ASX Announcement for AXL
Current share price for AXL : $0.053 -0.041 (-43.62%)+
Announcement
Release
2 Feb 2026 9:37AM
Price at Release
$0.094
Full Release
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Summary
Axel REE Limited announced the results of their second batch of magnesium sulphate leach tests at the Paraíso target within the Caladão Ionic Clay REE Project in Brazil. These tests have confirmed high soluble Total Rare Earth Oxides (TREO) grades, validating the potential for an in-situ leach (ISL) development pathway. The project highlights include multiple potential wellfield domains and a magnet-rich rare earth basket, supporting the production of a high-value mixed rare earth carbonate product. The results bolster the case for developing the Caladão project as a modular ISL operation with phased expansion. Axel REE is advancing multiple technical workstreams to de-risk the project and is engaging with commercial markets for potential product specifications and partnerships.
Key Points
  • Second batch of MgSO4 leach tests at Paraíso returned high soluble TREO grades.
  • Paraíso and Woolrich define potential ISL target areas within the Caladão project.
  • Magnet-rich rare earth basket supports potential high-value product.
  • Multiple wellfield domains identified at Paraíso for modular plant capacity.
  • Commercial engagement underway for product specifications and partnerships.
  • Advancing metallurgical and hydrogeological studies to de-risk ISL development.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.