Australia Rare Earths secures Milestone Payment Associated with the Hugely Promising Cowboy State Mine at Halleck Creek

Highlights

• American Rare Earths receives $304,000 grant from Wyoming Energy Authority for Halleck Creek rare earth project.
• Halleck Creek project recognized as a top 10 global rare earth program, with potential for significant rare earth oxide production.
• Company plans to use funds for exploration drilling, environmental studies, and pre-feasibility assessment of the Cowboy State Mine.

American Rare Earths( (opens in a new tab)ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) secured US$304,000(A$450,000) from the Wyoming Energy Authority (WEA) grant.  The payment milestone signifies progress involving the Cowboy State Mine at Halleck Creek.

The company announced in July that this Wyoming-based mine known as the Cowboy State mine and Halleck Creek project was approved for $7.1 million in state-backed non-dilutive funding in form of a grant.

Source of the funding was a deal between the Wyoming Energy Authority (opens in a new tab) (WEA) and the University of Wyoming Energy Resources Council (opens in a new tab) (ERC) both seeking to support projects to advance the state’s energy economy.

Headquartered in Australia, American Rare Earths, set up a subsidiary called Wyoming Rare, to manage the Halleck Creek project (opens in a new tab), an operation named by Mining Intelligence in 2023 as a top 10 global rare earth program as measured by total rare earth oxides (TREO) as reported by Mining.com (opens in a new tab).

By March of this year the company reported the results of s scoping project implicating the huge potential of the deposit.

Their recently announced reimbursement followed the approval of a US$7.1 million non-dilutive funding grant over the summer. Those funds are now in use to plan for exploration drilling, environmental studies, and pre-feasibility assessment

With more reimbursement funds in place, Chris Gibbs, the company’s CEO stated that these funds will help with their effort to de-risk the Cowboy State Mine

Again, Australian headquartered American Rare Earths owns Wyoming Rare (USA) Inc. which again is set up to exploit the Halleck Creek Project, WY, and the La Paz, AZ rare earth deposit.

According to various sources both of these rare earth endeavors represent huge potential, even being classified as potentially some of the largest, most sustainable rare earth initiatives across the continent.

As reported in April of this year by Cowboy State Daily American Rare Earths rejected a bid for a $400 million (opens in a new tab) deal from a group of Oakland, California investors.