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Axel REE Limited (ASX:AXL)

ALERT: Price-sensitive ASX Announcement for AXL
Current share price for AXL : $0.065 0 (0%)+
Announcement
Release
29 Jul 2026 8:40AM
Price at Release
$0.065
Full Release
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Summary
Axel REE Limited, a critical minerals exploration company, reported on its activities for the quarter ending 30 June 2026. The company focuses on the Caladão REE-Gallium and Caldas REE Projects in Brazil. During the quarter, Axel validated its in-situ recovery (ISR) development pathway for rare earth elements (REE) using magnesium sulphate leaching at the Woolrich deposit. The test results exceeded previous benchmarks and confirmed low impurity mobilization, indicating potential for simpler downstream processing. Axel plans to commence an ISR field test program in December 2026. Financially, Axel holds a strong cash position of $5.7M. Additionally, Dr. Patience Mpofu was appointed as the Managing Director, bringing extensive experience in the resources sector. The company spent approximately $477k on exploration and had no mining production and development activities during the quarter.
Key Points
  • Axel REE validated in-situ recovery using magnesium sulphate leaching.
  • Woolrich deposit test results exceeded benchmarks with low impurity mobilization.
  • ISR field test program planned for December 2026.
  • Dr. Patience Mpofu appointed as Managing Director.
  • Strong cash position of $5.7M at quarter end.
  • Exploration expenditure was approximately $477k.
  • No mining production and development activities in the quarter.
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.