Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF), in a brief stock market statement, pointed to a project update from Rainbow Rare Earths, which is advancing the Phalaborwa project in South Africa.
The company told investors it has successfully incorporated a cerium rejection step ahead of the final separation circuit. The change is expected to improve product quality and lower both capital and operating costs, Rainbow explained.
AIM-quoted Ecora holds a 0.85% gross revenue royalty on the Phalaborwa project; as such, the latest update bodes well for future valuations.