The Company, via a local agent, has acquired rights to explore and options to purchase a 2,407-acre midwestern U.S.-based property package it considers highly prospective for rare earth elements (REE) and critical mineral mineralization based on a historic exploration data set available to the Company. The project covers a large portion of a rare metal complex which has been known for more than 50 years but remains largely underexplored. The Company acquired the rights to explore, as well as an option to purchase the mineral interest in respect of the properties, for an aggregate purchase price of CAD $567,472.84.
With the recent influx of Niocorp cash, why didn't Mark Smith buy this land, especially if local agents were offering it up for sale!?
Apex's Rift Project area (~2,784 acres) now represents the largest position in the Elk Creek Carbonatite Complex (NioCorp Developments Ltd. holding the other commanding position in the district with ~1,397 acres). You read that correctly - we now hold a minority stake in Elk Creek. Apex is the Dean Kehler of Elk Creek.
Apex stock is up 10% on this news. When our feasibility studies come out (which we're paying for, they can promote those results to their own benefit, just like they're using the same historic Molycorp data we're relying on.
AI
