Kendrick Resources reports a $400M internal valuation for its Namibian rare earth projects, but key milestones like JORC resources and metallurgy remain ahead.
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Kendrick Resources
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About Kendrick Resources
Kendrick Resources PLC is a UK-based mineral exploration company focused on building an energy-metals and rare-earth business, listed on the Main Market of the London Stock Exchange under the ticker KEN. The company’s flagship asset is the Bonya Rare Earth Project in southern Namibia, comprising the Twyfelskupje and Keishohe license areas located southwest of Aus and near the deepwater port of Luderitz, hosted within a carbonatite and alkaline intrusive corridor. In January 2026 Kendrick entered an exclusive option to acquire at least a 70% interest in Bonya, formally exercising it in February 2026. Drilling at the TK2 target returned a 112-meter intercept averaging 3.03 wt% total rare earth oxides (TREO), with surface sampling across targets TK1-TK7 averaging 3.12 wt% TREO. The company aims to deliver a maiden JORC-compliant resource estimate by the end of the third quarter of 2026, targeting neodymium, praseodymium and other rare earth elements. In 2026 it raised approximately GBP1.76 million to advance the project.
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Kendrick Resources takes majority stake in Namibia rare earth licenses near Lüderitz—geology is promising, but proof depends on drill results.
