SGQ Lists on Frankfurt Exchange as ‘S0G’

Our Rare Earth and niobium Investment St George Mining (ASX: SGQ) just dual listed on the Frankfurt Stock Exchange (FSE) in Germany.

SGQ will now also trade on the FSE under the ticker ‘S0G’.

We like the move because:

• It makes SGQ easier to access for European investors on the second biggest exchange in the EU (and a popular one for small cap metals/mining companies)
• AND it comes just as rare earths is becoming more topical for investors all around the world (led by the interest in the US).

SGQ’s project has a current rare earths resource of 40.6Mt @ 4.13% TREO - which makes it one of the largest, highest grade hard rock rare earth deposits in the world.

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We also noticed SGQ appointed European investor relations advisor Dr Reuter IR to to get the SGQ story out across Germany, Austria, and Switzerland.

SGQ also working on a move into the US…

We also noticed SGQ’s MD mention that the US is still a big focus for the company.

He specifically mentioned that SGQ is looking at potential downstream partnerships with niobium/rare earth “end-users” and then would look to leverage those partnerships to “Access US capital markets”.

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Rare earths is without a doubt the most popular critical mineral right now in the US - especially after the Department Of Defence and Apple deals with the USA’s only rare earths producer - MP Materials.

A big part of that deal was to expand magnet production facilities which means MP will need more raw rare earth material supply…

Which is where we think SGQ’s project comes into play.

See our deep dive on SGQ’s US push here: USA signals interest in Brazil rare earths and niobium in potential new trade deal

What’s Next for SGQ

Drilling results 🔄

In the short term the main thing we want to see are drill results.

Ideally we see big extensions at depth and to the north/east/west of SGQ’s current JORC resource estimate.

So far 400 auger drill holes have been completed and RC drilling commenced.

The first 100 assays from this program are expected this month.

See our latest take on the drill program here: SGQ is drilling to grow its resource right now - 5 rigs to drill concurrently

Beyond the drilling 🔄

Over the next 12-18 months, a lot of the catalysts for SGQ could come at hard-to-forecast times:

• Updates on downstream processing strategy - We want to see SGQ define its downstream rare earths strategy. We are especially looking forward to an update in relation to the US.
• Start working on development studies - SGQ has already commenced environmental, geotechnical and development studies with a view of getting to economic studies in Q4-2025.
• Pilot plant trials - SGQ has an agreement in place with Latin America’s only permanent magnet maker. SGQ is participating in the “MAGBRAS Initiative” - a program that has major automakers like Stellantis working toward building Brazil’s first permanent magnet-making facility.
• Metwork and sample production - SGQ should have results from this fairly soon. The main catalyst we are looking forward to is the re-starting of SGQ’s pilot plant so that product samples can be produced for potential strategics/offtake partners.
• Permitting - SGQ is targeting completion for permitting by Q4-2026.
• Finalise the remaining vendor payments - (US$6M due before the end of the year and US$5M due next year). Hopefully, SGQ can follow up on the $8M cornerstone investment it managed to get from Xinhai Group earlier this year.

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