Defense Metals Corp.

Defense Metals Corp. is a mineral exploration and development company focused on the development of its 100% owned Wicheeda Rare Earth Element Deposit located near Prince George, British Columbia, Canada. Defense Metals Corp. trades on the TSX Venture Exchange under the symbol “DEFN”, in the United States, trading symbol “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.


Defense Metals Corp. is a billboard sponsor of Streetwise Reports and paid a fee for this company profile page. Please refer to the important disclosures below for additional details.

Recent Articles:

Rare Earths Co. Chasing China Finishes Phase 2 Drilling Program

This company say is it has finished its Phase 2 of pit geotechnical drilling at its Wicheeda rare earth element project (REE) in British Columbia. Find out why so much of the world needs these elements.

Rare Earths Co. Advancing Rare Earths Project Towards 2024 Milestones

Research Report
Defense Metals Corp. recently filed a NI 43-101 MRE technical report for its Wicheeda Rare Earth Element Project, noted Noble Capital analyst Mark Reichman.

Rare Earths Co. Watches as China's Standoff With West Grows

One Canadian rare earths company is watching closely as China ups the ante in its standoff with the West over the important metals that one newsletter writer says are "vital."

Technical Report Filed on Rare Earth Co.s 'Significant Upgrade'

This company is trying to loosen China's grip on rare earth elements. Find out why one analyst thinks its latest resource estimate adds to value to its flagship project.

Rare Earths Co. Ships Samples for Processors, Refiners to Verify

This company trying to chip away at China's dominance in the production of rare earths vital to the green economy has taken another important step. Find out why one analyst says this company is set to take a leading role in North America for the elements.

Rare Earths Firm Moves Step Closer To Completing PFS

Research Report
Results are in of various tests conducted by an independent firm on feed samples from the critical metals project, noted a Noble Capital Markets report.

More Articles

Expert Comments:

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Mark Reichman, Noble Capital Markets

"Defense Metals Corp. is laying the groundwork for offtake agreements. . .on the company's behalf, SGS Canada shipped samples of mixed rare earth oxide and mixed rare earth carbonate to select processors, refiners and metals traders in North America (2), Europe (2) and Asia (2). The shipments represent an important step toward future offtake agreements or strategic partnership opportunities."

Mark Reichman, Noble Capital Markets

"Defense Metals Corp. reported recent results of comprehensive comminution and beneficiation test work. . .recent work affirms high-concentrate grade and recoveries. . .results from the test work demonstrate that Wicheeda feedstock can be crushed, ground and floated to produce a rare earth flotation product competitive with other global producers."

Clive Maund,

"We last looked at Defense Metals Corp. on Sept. 4 when the company was recommended at a slightly higher price. It looks more attractive and more of a buy, especially given that Defense Metals has a huge rare earth element resource that it is moving towards being brought into production, which has recently been significantly upgraded, and especially given what is going down in the Mid-East and around the world."

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Bob Moriarty, 321 Gold

"Defense Metals Corp. is in the midst of a prefeasibility study the company began six months ago and expects to complete in H1/24, which will naturally include the higher grade and larger resource just outlined a month ago in its 43-101. Current plans from management would include the intention to produce somewhere between 20 and 25 Mt of rare earth oxide concentrate as Defense Metals goes into production; that would be about 10% of world production."

headshot of Mark Reichman

Mark Reichman, Noble Capital Markets

"Defense Metals Corp.'s 2023 mineral resource estimate for Wicheeda represents an 18.2% increase in total rare earth oxide (TREO) and a 31.3% in tonnage compared to the 2021 mineral resource estimate. Total Measured & Indicated mineral resources of 34.2 Mt averaging 2.02% TREO is a significant upgrade compared to the previous estimate."

David Davidson, Paradigm Capital

"By and large, the mineral resource update for the Wicheeda rare earth element project is good for Defense Metals Corp. A significant amount of the Inferred material is already included in the conceptual open pit and would be mined at some point in time."

More Expert Comments

Experts Following This Company

David Davidson – Paradigm Capital
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Michael Gray, Analyst – Agentis Capital
Clive Maund –
headshot of Bob Moriarty
Bob Moriarty, Author – 321 Gold
headshot of Mark Reichman
Mark Reichman, Analyst, Natural Resources – Noble Capital Markets

Company News 

12/5/2023 – Defense Metals Completes Phase 2 Pit Geotechnical Drilling & Intersects Mineralized Carbonatite at the Wicheeda Rare Earth Element Project

10/30/2023 – Defense Metals Files NI 43-101 Mineral Resource Estimate Technical Report for the Wicheeda Rare Earth Element Project

10/17/2023 – Defense Metals Ships Mixed Rare Oxide and Carbonate Samples to Interested Parties

10/10/2023 – Defense Metals Updated Beneficiation Results Confirm the Production of a High Grade Flotation Concentrate at High Recovery

10/3/2023 – Defense Metals Commences Phase 2 Infrastructure Sonic, Open Pit Geotechnical, and Exploration Target Core Drilling at Wicheeda Rare Earth Element Project

9/12/2023 – Defense Metals Upgrades and Expands Mineral Resource Estimate for Wicheeda Rare Earth Element Project

12/8/2022 – Defense Metals Closes Oversubscribed Private Placement of $6.1 Million

Important Disclosures
Defense Metals Corp. is a Billboard advertiser of Streetwise Reports and pays a flat fee. Fees fund both sponsor-specific activities and general report activities. Sponsor-specific activities may include aggregating content and publishing that content on the Streetwise Reports site, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Streetwise Reports to publish and syndicate investment opinion and comments, and also to curate or create sector-specific content. Billboard advertising monthly fees range from $3,000 to $5,000. This landing page contains a summary of the company that was prepared by that company. Some landing pages contain investing highlights and a catalyst calendar that are prepared by that company. The Expert Comments and Experts Following This Company sections of the landing page are compiled by Streetwise Reports. There may be other information about the company that is not placed on the landing page, and Streetwise Reports does not guarantee the accuracy or thoroughness of the information contained on the landing page. Readers should conduct their own research for all information publicly available concerning the company. This landing page may be considered advertising for the purposes of 18 U.S.C. 1734.

Streetwise - Defense Metals Corp. Ownership Overview*

Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE)

*Share Structure as of 7/14/2023
Investing Highlights
High-Quality Asset 100% owned Wicheeda rare-earth project, with potential to be a globally significant producer
Completed PEA1 –Advancing to PFS with Pilot Plant expected completion in 2Q23 Targeting about 10% of current global REE production with a US$367 million after-tax NPV8%
Strategic Location Project accessible by road, with proximity to rail and power infrastructure, and access to a major deep-sea port
Technically Strong Project Open pit project with favorable metallurgy
catalyst Calendar
Optimization and scale up of floatation and hydromet pilot plants
Complete pre-feasibility study