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Pure Resources Limited (ASX:PR1)

ALERT: Price-sensitive ASX Announcement for PR1
Current share price for PR1 : $0.210 -0.09 (-30%)+
Release
24 Sep 2026 8:57AM
Price at Release
$0.300
Full Release
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Summary
Pure Resources Limited (ASX: PR1) announced that its Strategic Partnership Project with Oak Ridge National Laboratory has advanced from proof-of-concept recovery of rare earth elements from garnet at the Garnet Hills Project to phase characterisation of reaction products using X-ray diffraction and Raman spectroscopy, with the work intended to support an invention disclosure and guide the next phase of laboratory testwork. The company emphasised that the programme targets the full rare earth suite, not just neodymium and praseodymium for magnets, with strategic interest in heavy and minor rare earths such as erbium, ytterbium, yttrium and europium because of their roles in quantum computing, quantum networking, photonics, precision optics and defence applications, although these uses are not expected to be material revenue drivers due to their very small consumption volumes. Pure Resources stated that the work remains early-stage, laboratory-scale, preliminary and qualitative, with no recovery rates, purities, grades, Exploration Results, Mineral Resources or Ore Reserves reported, while process details remain confidential to protect prospective patent and licensing opportunities; planned next steps include completing phase characterisation, quantifying recovery, assessing distribution of individual rare earths, reviewing separation and purification pathways, and advancing the company’s intellectual property position.
Key Points
  • Pure Resources' ORNL rare earth recovery programme has advanced to phase characterisation of reaction products using X-ray diffraction and Raman spectroscopy.
  • The programme is focused on the full rare earth suite, including heavy and minor rare earths, rather than only neodymium and praseodymium.
  • The company highlighted strategic relevance to quantum computing, quantum networking, photonics, precision optics and defence systems.
  • Rare earth elements referenced in quantum-related applications include erbium, ytterbium, yttrium, europium, praseodymium and neodymium.
  • The work is still early-stage, laboratory-scale, preliminary and qualitative, with no quantified recovery figures or grades reported.
  • Process details and analytical data have been kept confidential to support invention disclosure, patent filing and potential licensing.
  • Pure Resources said quantum-related rare earth demand is technically and strategically important but not expected to be a material revenue opportunity.
  • Next steps include completing phase characterisation, expanded testwork to quantify recovery, assessing separation and purification pathways, and advancing intellectual property.
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.