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European Resources Limited (ASX:ERE)

ALERT: Price-sensitive ASX Announcement for ERE
Current share price for ERE : $0.018 0.004 (28.57%)+
Announcement
Release
19 Aug 2026 8:34AM
Price at Release
$0.014
Full Release
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Summary
European Resources Limited announced the successful improvement of rare earth element extraction rates at its Korsnäs project in Finland. The ANSTO Minerals' test work increased the combined magnet rare earth extraction from 83% to 92% by removing calcite. This process also elevated the extraction of neodymium to 94% and praseodymium to 92%, with the total rare earths plus yttrium (TREY) extraction rising from 86% to 93%. The study highlighted that hydrochloric acid pre-leaching achieved nearly complete calcite removal, which enhanced TREY grades while maintaining rare earth losses between 0-2%. Significant improvements were noted in heavy rare earth elements, with terbium, dysprosium, and yttrium extraction seeing substantial gains. The company plans to continue optimizing the extraction process and impurity removal, aiming to produce a bench-scale mixed rare earth carbonate (MREC) sample, demonstrating their commitment to advancing their Finland rare earths project.
Key Points
  • ANSTO test increased magnet rare earth extraction from 83% to 92% after calcite removal.
  • Neodymium and Praseodymium extraction increased to 94% and 92%, respectively.
  • TREY extraction increased from 86% to 93%.
  • Hydrochloric acid pre-leaching achieved close to complete calcite removal.
  • Significant improvements in heavy rare earth extraction noted.
  • Continued program to optimize extraction and impurity removal.
  • Aim to produce a bench-scale mixed rare earth carbonate sample.
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.