SGQ Advances Toward Rare Earth Magnets with MagBras

SGQ is drilling right now for REE in Brazil.

It has an extremely high grade deposit on par with Lynas’ project grades and MP Materials Mountain Pass projects size.

These are the 2 biggest ex-China mines so they set a benchmark for what explorers should be aiming toward.

Today, St George Mining (ASX: SGQ) delivered a bulk sample of rare earth material to MagBras - a Brazilian public/private initiative to aid local companies in the end-end production chain of rare earth permanent magnets.

This is the first step in SGQ’s plans to service the US markets for rare earth magnets, looking to move downstream to capture some of the value that the Trump administration has been giving to rare earths producers.

While MagBras is for the Brazilian market, we hope that SGQ goes downstream to sell magnets into the US.

Recently MP Materials received a significant equity and debt funding package from the US Department of Defence of US$400M and a US$500M offtake agreement with Apple.

This deal with the US government included provisions for a floor price twice the current Chinese market price and plans to build a new magnet manufacturing facility by 2028.

Brazil and the US are currently negotiating a free trade agreement and it is clear that the US has its eyes specifically on rare earths, particularly niobium.

So we see this as the perfect time for SGQ to start looking at downstream rare earths processing.

Next we want to see next for SGQ

SGQ to deliver assays from the current drilling program.

The first 100 auger results are due this week.

With 5 drill rigs currently on site there will be a steady stream of further results to come aiming to extend the footprint of the resource.