We provide an update for Northern Minerals and its strategically important Browns Range heavy rare earth element development project. Recent MRE infill drilling results highlight the quality of Wolverine xenotime deposit. An updated DFS is scheduled for later this year. Independent Technical Expert SRK Consulting is currently reviewing the DFS draft and associated reports. This should help to expediate decisions from potential lenders like NAIF and EFA. Key upcoming catalysts include MRE/study outcomes, debt financing progression, recovery in rare earth element prices and positive exploration outcomes.
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