American Rare Earths Raises AU$15 million to Accelerate Halleck Creek Demo Plant and Drilling

American Rare Earths Limited (ASX: ARR) has secured AU$15 million via a placement priced at AU$0.32 per share, supported by institutional and professional investors. The proceeds will fund key development work at the Halleck Creek Rare Earths Project in Wyoming, one of the largest rare earth deposits in the U.S. The funding will enable construction of a demonstration plant, in-fill drilling at the Cowboy State Mine (CSM), and engineering work. This raise follows leadership changes to emphasize U.S. operations, with CFO Megan McPherson assuming key oversight and Joe Evers continuing to lead U.S. development. Upcoming milestones include test mining, mineral recovery optimization, permit submissions, and publication of the CSM Pre-Feasibility Study. The project aims to reduce U.S. reliance on Chinese rare earths by enabling domestic supply for magnet production and defense technologies.

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