American Rare Earths (AU:ARR) has released an update.
American Rare Earths has successfully completed a drilling campaign at the Cowboy State Mine, revealing significant rare earth mineralization and extending exploration areas. The company secured a non-binding letter of interest from EXIM Bank for up to $456 million to develop the project, emphasizing the strategic importance of building a domestic rare earth supply chain. Additionally, the establishment of Wyoming Rare, a new U.S. subsidiary, aims to enhance operational efficiency and attract investment for the Halleck Creek project.
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