Harena Rare Earths (LON:HREE) has raised £2m via a subscription and gained a significant shareholder in the process.
Executive chairman Ivan Murphy explains what the funds and the addition of a 10% shareholder means for the company and its Ampasindava ionic clay rare earth project in Madagascar.
In this interview investors will learn:
- How the money will be invested in the project
- Where Ampasindava is on the development curve
- Why inflationary pressures caused by the war in the Middle East will not pose financial constraints on the asset
- How conflict makes rare earths more desirable
- Who significant shareholder Gregory John Coffey is and why he wants to be involved in Harena
- How the addition of Coffey’s colleague Matthew Press improves Harena’s profile
- What shareholders will learn next about Harena and the Ampasindava project
Reasons to Add (L.HREE) to your watchlist:
- Experienced management team
- Large-scale Ionic Clay REE project
- Offtake term sheet secured
- REE prices expected to rise fuelled by security of supply
- Base case post-tax NPV10 US$250m; IRR of 30%
- Attractive valuation as the only LSE-listed ionic clay REE project
Ivan Murphy, Chairman of Harena Rare Earths, was interviewed by Sarah Lowther for focusIR.
