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Ionic Rare Earths Limited (ASX:IXR)

ALERT: Price-sensitive ASX Announcement for IXR
Current share price for IXR : $0.355 0.055 (18.33%)+
Announcement
Release
24 Apr 2026 12:11PM
Price at Release
$0.300
Full Release
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Summary
Ionic Rare Earths Limited (IXR) reported its March quarterly activities emphasizing significant advancements in their rare earth projects. The company has secured a £12 million capital grant from the UK Government to develop a rare earth magnet recycling facility in Belfast, which is deemed strategically important. The Makuutu Heavy Rare Earths Project in Uganda, holding strategic value amid China's export controls, continues to attract discussions with project partners. Additionally, the Viridion joint venture in Brazil progresses towards developing the CRITR facility with potential federal funding. The company aims to enhance its presence in the US financial markets and has appointed new strategic advisors to support international expansion.
Key Points
  • IXR received a £12 million grant for a Belfast magnet recycling facility.
  • The Belfast facility is recognized as a strategically important project.
  • Makuutu Project in Uganda is progressing amid China's export controls.
  • Viridion JV in Brazil is advancing with potential federal funding.
  • IXR aims to expand into the US markets with new strategic advisors.
  • The company reported a net loss of $6.2 million for the half year.
  • Strategic projects in the UK and US are gaining global recognition.
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.