Nosib project bulk sample excavation for metallurgical testwork. Source: Golden Deeps
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Golden Deeps (GED) unveils “significant” discoveries of germanium and gallium rare earth elements (REE) at its Nosib deposit in Namibia
  • Chinese export restrictions on these elements could drive demand and prices higher
  • Ongoing metallurgical testwork in Perth aims to generate a high-grade concentrate containing germanium and gallium
  • Recovery of germanium and gallium has the potential to greatly increase the value of the concentrate
  • GED is up 57.1 per cent and trading at 1.1 cents at 2:47 pm AEST

Golden Deeps (GED) has unveiled “significant” discoveries of germanium and gallium rare earth elements (REE) at its Nosib deposit in Namibia.

The findings were made through surface drilling within its recently renewed license situated in Namibia’s highly-promising Otavi Mountain Land base metals province.

Germanium and gallium are in high demand and their prices are expected to rise further due to Chinese government-imposed export restrictions. China aims to protect its national security interests by limiting the export of gallium and germanium products used in computer chips, semiconductors, and other vital components.

Golden Deeps is conducting gravity concentrate metallurgical testwork on bulk samples from one drill hole and a surface excavation at Nosib. These tests are taking place at Nagrom Laboratories in Perth and are nearing completion.

The results are anticipated to yield a high-grade concentrate enriched with vanadium, copper, lead, and silver, as well as significant levels of germanium and gallium.

GED was up 57.1 per cent and trading at 1.1 cents at 2:47 pm AEST.

GED by the numbers
More From The Market Online
The Market Online Video

Market Close: Autumn’s ASX200 record breaking start

The ASX200 has closed the first day of Autumn at a new record 7745.6 points -…
The Market Online Video

Ark Mines (ASX:AHK) improves REE grades at Sandy Mitchell

North Queensland-based REE explorer Ark Mines (ASX:AHK) has proven higher-grade mineralisation is present on-site.

Week 9 Wrap-up: ASX hits 2 new ATHs on US inflation + the headlines that mattered

What a week. As US markets continue to go crazy after the American earnings season (read: NVIDIA), the ASX has done the same. 
OBM

Ora Banda Mining secures $30 M placement, marks progress toward second underground mine

Ora Banda Mining (ASX:OBM) has completed a single tranche placement, securing commitments at an issue price…