Skip to content
Business Company News, Oil Mining Resources

American Rare Earths Limited (ASX:ARR) Forges New Path to Accelerate Development of Key Wyoming Asset

Jane Morgan Management 2 mins read

Sydney, Australia – 12 August 2024 | American Rare Earths Limited (ASX:ARR | OTCQX:ARRNF | ADR:AMRRY) ("ARR" or "the Company") is pleased to announce a strategic realignment aimed at accelerating the development of the Halleck Creek Project (the "Project") in Wyoming, USA. This initiative includes the formation of a new 100% owned subsidiary, Wyoming Rare USA Inc. ("WRI"), which will focus exclusively on advancing the Halleck Creek Project and enhancing appeal to US-based investors and partners.

Highlights:

  • Formation of a Dedicated Subsidiary: ARR has established WRI, a 100% owned subsidiary, which will focus on the development of the Halleck Creek Project in Wyoming. This decision is intended to streamline operations and position the project as an attractive investment opportunity for US investors. 

  • New Focus on Halleck Creek Project: The Halleck Creek Project in Wyoming, is one of the largest rare earth deposits in North America. The Project poses substantial growth potential, with more than 75% of the mineralised zones yet to be drilled and the deposit remaining open at-depth. 

  • Recent Developments: WRI will focus on the development of the Cowboy State Mine within the Halleck Creek Wyoming State Tenements. The Project has already received a significant boost with a US$7.1 million grant from the State of Wyoming (announced 27 June 2024), further supported by a recent Scoping Study indicating a robust NPV of US$673.9 million, an IRR of 22.5%, and a payback period of 2.9 years.

  • Leadership and Expertise: WRI will be led by a highly-experienced team. This includes Sten Gustafson as Chairman, Joe Evers as President, and John Mansanti as Senior Advisor supporting the development of the Cowboy State Mine.

Richard Hudson, Chairman of ARR, stated: “This new focus represents a pivotal moment for ARR. By creating a dedicated subsidiary for the Halleck Creek Project, we are positioning the Company to unlock significant value and accelerate the development of a critical resource for the US. These changes will not only streamline our operations but enable us to better increase shareholder value long term.” 

WRI’s primary objective is to advance the Halleck Creek Project, leveraging the strategic advantages of its location and substantial financial backing. The project’s focus on critical minerals, which are essential for a clean energy transition, aligns with national security interests and makes it an important asset for North America.


About us:

About American Rare Earths Limited:

American Rare Earths (ASX:ARR | OTCQX:ARRNF | ADR:AMRRY) owns Wyoming Rare (USA) Inc. which is focused on the development of the Halleck Creek Project, WY. It also owns La Paz, AZ rare earth deposit. Both can potentially become the largest and most sustainable rare earth projects in North America. The Company is developing environmentally friendly and cost-effective extraction and processing methods to meet the rapidly increasing demand for resources essential to the clean energy transition and US national security. The Company continues to evaluate other exploration opportunities and is collaborating with US Government-supported R&D to develop efficient processing and separation techniques of (REEs) elements to help ensure a renewable future.


Contact details:

Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au

Media

More from this category

  • Business Company News
  • 08/02/2025
  • 16:11
Honcho

Honcho Simplifies Trademark Registration to Future-Proof Small Businesses

Photo credit: HonchoSYDNEY, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Honcho, a leading provider of business services in Australia, is making trademark registration more accessible for small businesses. The company has developed a program streamlining the process, helping business owners protect their brand identities and ensure long-term success.A registered trademark grants businesses exclusive rights to their name, logo, or tagline, preventing unauthorised use and safeguarding their reputation. Without trademark protection, businesses risk brand dilution, imitation, and legal disputes that can impact customer trust and business growth.Miralda Ishkhanian, Chief Operating Officer of Honcho, explains the importance of trademark registration: “A registered trademark…

  • Oil Mining Resources, Union
  • 07/02/2025
  • 16:46
Mining and Energy Union

Workers remain on pay as SIMEC stops production at Tahmoor

About 450 workers at Tahmoor underground mine in NSW are off work on full pay after SIMEC halted operations for four weeks due to financial pressure, the Mining and Energy Union said today. TheMEU welcomes the decision by SIMEC to retain their workforce in the current circumstances where the company’s financial position has affected supply of equipment to the mine.The workforce includes approximately 150 direct employees and 300 employees of contractor RStar. “The workforce atTahmoor are skilled and loyal; and the company is doing the right thing by retaining them as they address their current financial challenges,” said MEU South…

  • Biotechnology, Business Company News
  • 07/02/2025
  • 11:52
AdAlta Limited (ASX:1AD)

AdAlta (ASX:1AD) investor webinar invitation: “East to West” cellular immunotherapy strategy

The webinar will be presented by AdAlta’s Chief Executive Officer & Managing Director, Dr Tim Oldham, and will be followed by a short Q&A session In his webinar presentation, DrOldham will discuss the results of AdAlta’s strategic review and portfolio prioritization announced separately today, including: • What drives AdAlta’s “East to West” cellular immunotherapy strategy• How the “East to West” strategy will be AdAlta’s key driver of future pipeline growth and value creation• Recent progress made in executing the “East to West” strategy, including the signing of term sheets• How the value inherent in AdAlta’s fibrosis disease drug candidate AD-214…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.