Vancouver, British Columbia - December 1, 2020 (Investorideas.com Newswire) Media alert for Defense Metals Corp. (TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D).The company was featured in the following published article as rare earth metal prices rise in China.
DEFENSE METALS, TUI, EVERFUEL - THESE ARE THE NEW STARS!
These scarce raw materials are "rare earth metals." Permanent magnets for electric motors, for example, are produced based on "rare earth metals" - REM. Smartphones, monitors and even wind turbines contain dysprosium, neodymium, germanium or gallium. REMs play a decisive role in the production of weapons. For example, the US Air Force's most modern combat aircraft, the F-35, requires about 1,000 pounds of rare earth metals, most of which are currently sourced from China.
CHINA ON THE MOVE
The US is also dependent on China for REMs, needed for laser-guided missiles, other advanced weapon systems and space satellites. And here is the problem, currently 80% of rare earths are produced in China, a quasi-monopoly. Due to the trade dispute with the US, this can lead to enormous supply bottlenecks in the Western world. As early as 2017, outgoing President Trump tried to free the US from its dependence on China for rare earth metals by issuing an Executive Order. This Executive Order was followed with a statement by the President in early October declaring a national state of emergency in the mining sector to set up a US domestic REM storage facility for military requirements.
ALTERNATIVE FROM CANADA
The Canadian mineral explorer Defense Metals has its finger on the pulse here. Founded in 2016, the Company focuses on the acquisition of mineral deposits containing metals and elements used in the production of renewable energy technologies, such as rare earth magnets. The main focus is on the Wicheeda project in the province of British Columbia.
By the end of October, the Canadians were able to complete a private placement of 2,525,000 units for gross proceeds of CAD 505,000. Last week, the private placement of 800,000 shares was announced, which puts another CAD 200,000 in the pockets of Defense Metals. Defense Metals' CEO, Craig Taylor, commented on the use of the funds: "The previously closed 25-cent-per-share private placement financing will be used to conduct additional fill-in hydrometallurgical test work with the objective of capitalizing on opportunities that have been identified to optimize and improve on our already exceptional hydromet recoveries. As previously disclosed, we intend to complete the preliminary economic assessment by the end of the Q1 2021." The market capitalization of the Company is currently CAD 11.24. A bet on the future!**
Full article and Original source
Recent Company News: November 23-
Defense Metals Corp. Initiates Pre-Pilot Hydrometallurgical Optimization for its Rare Earth Elements Project
Defense Metals Corp. (TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D) is pleased to announce that it has commissioned SGS Canada Inc. ("SGS") to complete additional pre-pilot hydrometallurgical test work utilizing high-grade rare earth element (REE) mineral concentrate produced during the Company's highly successful 26 tonne flotation pilot-plant that yielded a mineral concentrate averaging 7.4% NdPr oxide (neodymium-praseodymium) (see Defense Metals news release dated September 23, 2020).
Craig Taylor, CEO comments:
"The previously closed $0.25 per share private placement financing will be used to conduct additional fill-in hydrometallurgical test-work with the objective of capitalizing on opportunities that have been identified to optimize and improve on our already exceptional hydromet recoveries. As previously disclosed, we intend to complete the preliminary economic assessment (PEA) by the end of the Q1 2021."
About Defense Metals Corp. https://defensemetals.com/
Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of "GREEN" energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol "DEFN" on the TSX Venture Exchange, in the United States, under "DFMTF" on the OTCQB and in Germany on the Frankfurt Exchange under "35D".
For further information, please contact:
Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Forward Looking Information
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements relating to finding partnerships, securing potential offtake agreements, and other business opportunities, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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