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10/23/13 - €0.14
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namibia rare earths inc (7NR) Details

Namibia Rare Earths Inc. is engaged in the exploration and development of rare earth properties in Namibia. It primarily holds a 100% interest in the Lofdal Rare Earths Project covering an area of approximately 573 square kilometers in north western Namibia. The company was incorporated in 2010 and is headquartered in Halifax, Canada.

5 Employees
Last Reported Date: 02/20/14
Founded in 2010

namibia rare earths inc (7NR) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: C$385.0K
President and Member of Disclosure Policy Com...
Total Annual Compensation: C$229.7K
Chief Financial Officer
Total Annual Compensation: C$44.2K
Compensation as of Fiscal Year 2013.

namibia rare earths inc (7NR) Key Developments

Namibia Rare Earths Inc. Initiates Preliminary Economic Assessment on the Area 4 Heavy Rare Earth Deposit at Lofdal in Northwestern Namibia

Namibia Rare Earths Inc. announced that it has initiated a Preliminary Economic Assessment ("PEA") on the Area 4 heavy rare earth deposit at Lofdal in northwestern Namibia. MDM Engineering of South Africa has been engaged as the principal consultant for the report which will provide an economic analysis of the potential viability of the current resources at Lofdal. Ongoing metallurgical test work has achieved increased recoveries and upgrades, indicating that the targeted mineral concentrate grade of 20% total rare earth oxides ("TREO") can be attained from low grade feed of 0.3% TREO. Lofdal represents a unique opportunity for the development of a significant heavy rare earth supply outside of China. MDM Engineering will be assisted by Mine Technics of Australia for pit optimization, mine planning and operations, Swinden Geoscience of Canada for geological inputs, and Digby Wells Environmental of South Africa for environmental management and planning. The PEA will utilize the NI 43-101 compliant resource completed in 2012 by MSA Group. The PEA is expected to be completed before the end of the third quarter. As a result of this significant progress, the Company has engaged the services of Cutfield Freeman & Co. Ltd. ("CF&Co") as a financial advisor to assist in exploring strategic options to maximize shareholder value for its Lofdal asset. CF&Co is a global specialist mining corporate finance house headquartered in London with offices in Toronto and Hong Kong. CF&Co has been retained by the world's major mining and metal processing companies and advised on some of the industry's most significant transactions. They have also frequently worked alongside the management of smaller companies in implementing successful growth strategies. In addition to broad experience on transactions in the mining and metals processing sector, CF&Co has specific relevant expertise advising clients in the rare earths industry.

Namibia Rare Earths Inc., Annual General Meeting, May 27, 2014

Namibia Rare Earths Inc., Annual General Meeting, May 27, 2014.

Namibia Rare Earths Inc. Auditor Raises 'Going Concern' Doubt

Namibia Rare Earths Inc. filed its Annual on Feb 20, 2014 for the period ending Nov 30, 2013. In this report its auditor, Deloitte & Touche LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.


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