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Axel REE Limited (ASX:AXL)

ALERT: Price-sensitive ASX Announcement for AXL
Current share price for AXL : $0.059 -0.012 (-16.90%)+
Release
29 Apr 2026 8:51AM
Price at Release
$0.071
Full Release
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Summary
Axel REE Limited's quarterly activities report highlights advancements in their Caladão REE-Gallium Project and Caldas REE Project in Brazil. The company is developing a low-cost, modular in situ recovery (ISR) method for rare earth elements (REE), targeting ionic clay-hosted mineralization. Recent test work showed significant recovery rates for magnetic rare earth oxides (MREO) and gallium, supporting a dual-pathway development approach. Additionally, Axel progressed various technical workstreams, including infill drilling and leach testwork, to de-risk the ISR development at the Woolrich deposit. Financially, the company reported a decrease in cash and cash equivalents, with the current quarter ending balance at A$6,553,000.
Key Points
  • Advancements in Caladão REE-Gallium and Caldas REE Projects.
  • Development of low-cost, modular ISR method for REE.
  • Significant MREO and gallium recovery confirmed.
  • De-risking ISR development at the Woolrich deposit.
  • Cash and cash equivalents decreased to A$6,553,000.
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.