Defense Metals Corp. is an advanced mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol "DEFN" on the TSX Venture Exchange, in the United States, under "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.
The company that recently updated the mineral resource estimate of its project in British Columbia offers investors a compelling, 233% return, noted a Noble Capital Markets report.
This rare earths company has announced an updated Mineral Resource Estimate (MRE) for its British Columbia project. Find out why one analyst says it's a great time to seek exposure.
Preparation of the prefeasibility study of this rare earth elements project in British Columbia is picking up steam and remains on track for completion in H1/24, noted an Agentis Capital report.
Consultants and technical teams are working to complete this rare earth elements (REE) company's preliminary feasibility study for its British Columbia project.
Defense Metals Corp. has hired two companies as principal consultants for its preliminary feasibility study (PFS) of its Wicheeda Rare Earth Element (REE) project in British Columbia.
This Canadian rare earth elements (REEs) company is watching China's decisions involving critical mineral exporting with interest. Officials say time is running out for new mines.
The second phase of testing of this company's hydrometallurgical pilot plant has been completed and work on a pre-feasibility study (PFS) for its rare earth elements project has begun.
Defense Metals Corp. begins the second phase of testing of its hydrometallurgical pilot plant at SGS Lakefield in Ontario. The test will run for about ten days.
Defense Metals Corp. successfully runs a test of its hydrometallurgical pilot plant at SGS Lakefield in Ontario. One analyst says it's a good sign for the viability of the company's rare earth elements (REE) project.
Defense Metals Corp. joins the Discovery Group, formed by mining entrepreneurs John Robins and Jim Paterson to advance mineral exploration and mining projects.
Mined material at the project is amenable to conventional methods, which has "positive implications for [the] project cost profile," noted a Noble Capital Markets report.
The crushing and grinding (comminution) data from Defense Metals Corp.'s Wicheeda rare earth elements (REE) project will help inform its preliminary feasibility study expected early next year.
At this facility, the Canadian company will process concentrate from its critical metals project in preparation for the upcoming prefeasibility study, noted a Noble Capital Markets report.
Defense Metals Corp. is coming off a successful 18-hole drilling campaign at its Wicheeda rare earth element project. It's now pushing toward a preliminary feasibility study for the British Columbia site.
The results, just in for the final holes of the company's 2022 drill campaign, include the highlight intercept, 3.66% total rare earth oxides over 138 meters, noted a Noble Capital Markets report.
An analyst says Defense Metals Corp. is well-positioned to benefit from demand for rare earth elements with its continued high-grade results in British Columbia.
New drill results from this project in British Columbia returned a total rare earth oxide grade of 3.77% and an intercept length of 222m, noted a Noble Capital Markets report.
With this season's drilling behind it, the Canadian explorer plans to start, by year-end, the next step in advancing its project, noted a Noble Capital Markets report.
This Canadian critical metals firm with many "attractive attributes" is well-positioned to become a globally significant rare earth oxide producer, noted an Agentis Capital report.
Defense Metals Corp. is seeing more high-grade results from assays at its Wicheeda rare earth element deposit in British Columbia. Results from three holes, including one released on Thursday, are showing broad mineralization.
The explorer agreed to work together with a local First Nations community as it advances its critical elements project in British Columbia, noted a Noble Capital Markets report.
Defense Metals Corp., which hopes to compete with China in the production of vital rare earth elements, has entered into an agreement with the McLeod Lake Indian Band in British Columbia.
This company is getting drills turning and renewing its search for rare earth elements in Canada, hoping to reduce the West’s dependence on resources from China.
This Canadian mining firm is advancing its rare earths project, which has an existing, expandable resource and significant production potential, noted a Noble Capital Markets report.
Rare earth elements are in high demand, and newly released drilling results in Canada could point to a way to help loosen China's stranglehold on the sector.
Currently China has a virtual stranglehold on rare earth elements, but this Canadian company is getting ready to capitalize on the downstream value of processing the REEs it’s mining.
Brian Sylvester for Streetwise Reports (12/07/2021)
More than 80% of the supply of rare earth elements needed to make phones, laptops, laser-guided drones, and tech-heavy weapons is controlled by China. One North American-based explorer could challenge that dominance, according to a recently published PEA.
Defense Metals intends to determine if restarting exploration work at Geiger North and Klaproth will increase the value it is currently creating for shareholders.read more >
The contents of this memo between Defense Metals and a Chinese minerals processing expert are described in a Highballer Stocks report, which notes "demand from every corner of the tech arena."read more >
Defense Metals Corp. reported that two interested third-party rare earth element processors have requested samples of high-grade REE mineral concentrate for evaluation.read more >
Defense Metals Corp. reported that its 26-tonne pilot plant has been successful in removing impurities from flotation concentrate with only minimal rare earth element losses at its Wicheeda REE property.read more >
Defense Metals reported that it is advancing its baseline environmental monitoring programs at its Wicheeda Rare Earth Element Property in British Columbia.read more >
Defense Metals reported that the Saskatchewan government will provide CA$31 million in funding for the province's first rare earth element processing facility.read more >
Defense Metals reported its flotation pilot plant registered positive sample results from its Wicheeda Rare Earth Element property in British Columbia.read more >
In this interview with Craig Taylor, CEO of Defense Metals Corp., Peter Epstein of Epstein Research delves into the complexities and potential of rare earth metals markets, and discusses the company's REE projects.
read more >
These are exciting times for this company and others like it, with prices for rare earth elements on the rise and geopolitical factors in play, says Peter Epstein of Epstein Research.read more >
Rick Mills of Ahead of the Herd explains why he believes investors should take a look at one company whose rare earth elements project could provide a secure supply of desperately needed metals and could have a "potential gross in-situ metal value of CA$7.6 billion."read more >
Max Sali, CEO of Defense Metals, speaks with Peter Epstein of Epstein Research about the latest developments at his company's REE project in British Columbia.read more >
Rick Mills of Ahead of the Herd provides an overview of the ups and downs in the rare earths market and discusses one company that he believes has all the elements in place for a "successful, small-scale rare earth operation."read more >
Expert Comments:
Mark Reichman, Noble Capital Markets
(9/13/23)
"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
(9/12/23)
"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."
Mark Reichman, Noble Capital Markets
(9/6/23)
"Defense Metals Corp. completed a ground radiometric geophysical survey over the Wicheeda rare earth element (REE) deposit and identified new anomalies that may represent REE mineralized carbonatite within the current mineral resource pit shells defined in the 2021 preliminary economic assessment. Two previously unknown anomalies were identified, each approximately 40m in width and extending approximately 250m northwest from the main body of the Wicheeda REE deposit."
Clive Maund, CliveMaund.com
(9/4/23)
"Defense Metals Corp. looks even more attractive and more of a Buy here than ever. . .the prominent high volume reversal candle on Aug. 21, 2023 and subsequent light volume are a sign that an advance is incubating."
Mark Reichman, Noble Capital Markets
(8/17/23)
"Defense Metals Corp. is advancing toward what we believe will be a compelling preliminary feasibility study. In addition to significant potential to expand the resource and extend the mine life, we expect grade enhancement and the meaningful conversion of Inferred to Indicated and, potentially, Measured resources."
Michael Gray, Agentis Capital
(8/16/23)
"Defense Metals Corp. announced the engagement of Hatch Ltd. and SRK Consulting as principal consultants for the completion of its prefeasibility study for Wicheeda. . .work is ongoing to complete geotechnical engineering studies, tailings alternative assessments and geochemical characterization."
More Expert Comments
Clive Maund, CliveMaund.com
(7/19/23)
"Defense Metals Corp. has broken out above nearby resistance, broken out above its downtrend and broken above its falling 50-day moving average. . .with its technical condition having strengthened considerably since we last looked at it and downside looking very limited while upside is big, we stay long. The company is rated an immediate Buy here."
Brien Lundin, Golden Opportunities
(7/18/23)
"Defense Metals Corp.'s rare earth element (REE) resources at Wicheeda may allow for it to become only the second REE-producing mine in North America, perhaps accounting for about 10% of the world's production. . .despite its decided advantages, the company remains undervalued, both with respect to results from its 2021 preliminary economic assessment on Wicheeda and in comparison to its peers."
Clive Maund, CliveMaund.com
(7/11/23)
"Given geopolitical realities, Defense Metals Corp. is a stock that will probably go much, much higher. . .it is believed that a major new uptrend in the company has just been birthed, so we stay long and it is rated an immediate Strong Buy."
Clive Maund, CliveMaund.com
(6/8/23)
"This looks like a very good point to pick up Defense Metals Corp. . .the downtrend of recent months has brought the stock back down into a broad zone of strong support at cyclical lows, which is normally a good place to buy."
Mark Reichman, Noble Capital Markets
(6/7/23)
"Defense Metals Corp. recently completed phase two hydrometallurgical pilot plant test work and has commenced work on the Wicheeda preliminary feasibility study (PFS). . .the recent work provided the metallurgical test data required for the company's engineering consultants to commence the design work that is an important part of the PFS."
Clive Maund, CliveMaund.com
(5/25/23)
"Defense Metals Corp.'s financing is now complete. Since there is now no prospect of any further such financings in the foreseeable future, the stock is at last free to advance again. . .the company is therefore rated Buy here."
Mark Reichman, Noble Capital Markets
(4/26/23)
"Phase one of Defense Metals Corp.'s Wicheeda rare earth elements hydrometallurgical pilot plant operation was completed successfully and provided an opportunity to explore areas of the process where the efficiency of the hydrometallurgical process could be improved. Changes have been incorporated in the phase two pilot plant program which began on April 24 and will run for 10 days."
David Davidson, Paradigm Capital
(4/18/23)
"Defense Metals Corp. has engaged SRK Consulting to begin prefeasibility level geotechnical studies at Wicheeda and construction of a hydrometallurgical pilot plant at SGS Lakefield. . .with the push to source more critical elements domestically, the company is well positioned to take advantage of this opportunity. . .we are initiating coverage of Defense Metals with a Speculative Buy rating."
Mark Reichman, Noble Capital Markets
(4/13/23)
"Phase one testing of Defense Metals Corp.'s fully integrated pilot plant at SGS Lakefield was successfully completed. The company and SGS Lakefield confirmed the viability of the process, optimized certain design parameters and identified areas that will be improved ahead of the phase two pilot plant run scheduled for late April 2023. . .the current stock price offers an attractive entry point for investors."
Mark Reichman, Noble Capital Markets
(3/24/23)
"Defense Metals Corp. recently updated its three-dimensional, geological model of the Wicheeda rare earth element deposit. . .the update incorporated results from drilling completed during 2021 and 2022 that are not reflected in the January 2022 preliminary economic assessment. . .results for 47 holes representing 10,876m of drilling have now been included."
Mark Reichman, Noble Capital Markets
(2/22/23)
"Defense Metals Corp. has commenced construction of a hydrometallurgical pilot plant which is expected to be commissioned in March 2023. . .the pilot plant is being configured to produce a high-purity rare earth precipitate suitable as feedstock for a rare earth elements separation plant."
Mark Reichman, Noble Capital Markets
(1/25/23)
"Defense Metals Corp.'s recent results were from two exploration geotechnical core drill holes, one of which returned the best drill intercept, on a grade times width basis, of the entire 2022 drilling program. . .hole WI22-79 intersected an upper high-grade interval from surface assaying 3.66% total rare earth oxides (TREOs) over 138m and a lower interval grading 0.50% TREO over 43m."
Mark Reichman, Noble Capital Markets
(1/18/23)
"Data from Defense Metals Corp.'s 2021 and 2022 drilling programs will be incorporated into a preliminary feasibility study, which is expected to be completed by Q4/23. In addition to significant potential to expand the resource and extend the mine life beyond 19 years, we expect grade enhancement and the meaningful conversion of Inferred to Indicated and potentially Measured resources."
Mark Reichman, Noble Capital Markets
(11/23/22)
"Defense Metals Corp. announced a private placement, expected to close on or around Nov. 30, to raise gross proceeds of up to CA$6M to advance its wholly owned Wicheeda rare earth elements (REEs) project. . .the 2022 Wicheeda deposit resource infill drilling continues to yield high-grade REE intercepts from surface exceeding 3% total rare earth oxides."
Mark Reichman, Noble Capital Markets
(10/27/22)
"Defense Metals Corp. completed resource delineation and pit geotechnical diamond drilling at Wicheeda for the 2022 exploration season. . .results to date from the 2022 drilling season have been outstanding and are expected to contribute greatly toward upgrading resource categories in support of the preliminary feasibility study."
Mark Reichman, Noble Capital Markets
(10/18/22)
"Approximately 70 flotation tests on samples of differing lithologies from Defense Metals Corp.'s Wicheeda deposit have been performed. Results have confirmed that conventional flotation from a range of lithologies and grades can produce high grade rare earths mineral concentrate at high recovery rates. . .high grade mineral concentrate containing more than 40% total rare earths oxides (TREO) at a recovery rate exceeding 80% has been produced from all fully tested dolomite carbonatite samples and a master composite containing all lithologies from material with a head grade of greater than 2% TREO."
Mark Reichman, Noble Capital Markets
(10/12/22)
"We think Defense Metals Corp. is well positioned to benefit from growing demand for rare earths used in electric vehicle batteries, metal alloys and advanced technology applications; the 2022 drilling season has proven to be highly productive, and we are pleased with the positive results released thus far. We think the equity offers compelling capital appreciation potential with ample catalysts on the horizon to drive value, including the release of additional assay results."
Michael Gray, Agentis Capital
(10/3/22)
"We are initiating coverage on Defense Metals Corp. with a high conviction that the company is a best of breed North American rare earth elements (REE) developer that is well-positioned to its leverage growing global REE demand and government support to become part of a North American REE critical metals supply chain. Defense Metals screens well relative to developer peers, with its high-grade Wicheeda deposit that could become a globally significant producer of 28.9 Ktpa rare earth oxide including ~4.4 ktpa Nd-Pr oxide."
Mark Reichman, Noble Capital Markets
(9/23/22)
"Hole WI22-64 from Defense Metals Corp.'s Wicheeda project returned a broad mineralized intercept of high-grade dolomite carbonate in the upper portions of the hole and mixed mineralized xenolithic dolomite carbonate and syenite at depth averaging 1.78% total rare earth oxide (TREO) over 192m, including 3.13% TREO over 73m. . .hole WI22-62 collared 120m to the north of WI22-64 and intersected a 109m interval of mineralized dolomite carbonatite returning 1.39% TREO over 167m, including 2.29% TREO over 48m."
Mark Reichman, Noble Capital Markets
(9/8/22)
"Defense Metals Corp. entered into a mineral exploration agreement with the McLeod Lake Indian Band that addresses the interests of both parties with respect to mineral exploration activities at the company's Wicheeda rare earth element project. The agreement provides a framework for communication and cooperation going forward, which we think promotes cooperative collaboration and further derisks the project."
Mark Reichman, Noble Capital Markets
(8/10/22)
"Defense Metals Corp. announced the completion of its 2022 resource infill and exploration diamond drilling program. . .along with data from the 5,349m 2021 diamond drill program, results from the 2022 drilling program will be incorporated into a preliminary feasibility study (PFS) to be released during H1/23. . .the Wicheeda rare earth project is shaping up nicely, and progress to date bodes well for a compelling PFS."
Mark Reichman, Noble Capital Markets
(6/8/22)
"Defense Metals Corp. has commenced diamond drilling at its Wicheeda rare earth element deposit and expects to complete up to 5,000m of drilling to delineate existing resources and test near deposit exploration targets. . .results will be incorporated, along with results from the 2021 drill program, into a preliminary feasibility study to be released during H1/23."
Mark Reichman, Noble Capital Markets
(6/1/22)
"Defense Metals Corp.'s initial test work supports using the acid bake process at the Wicheeda rare earth element (REE) project based on improved REE extraction and the potential for lower Wicheeda project capital and operating costs. . .preliminary results show that the acid bake process is more efficient, yielding greater than 95% recovery of neodymium and praseodymium from flotation concentrate into a leach solution."
Mark Reichman, Noble Capital Markets
(5/25/22)
"Defense Metals Corp. expects to commence a 5,300m drilling program shortly to expand and upgrade resources at the Wicheeda rare earth element project, which will be incorporated, along with results from the 2021 drill program, into a preliminary feasibility study (PFS) to be released during H1/23. The program will also include geotechnical and hydrological drilling to support PFS-level mine planning studies."
Clive Maund, CliveMaund.com
(5/8/22)
"Defense Metals Corp. is right down on support at its rising 200-day moving average with moving averages in bullish alignment and now light volume making a rally more likely."
Mark Reichman, Noble Capital Markets
(4/28/22)
"All 29 holes of Defense Metals Corp.'s 5,349m diamond drill program completed during the fall of 2021 yielded positive results. . .resource definition drill holes WI21-58 and WI21-59 yielded two of the three highest grade and width intercepts of the 2021 drill campaign. WI21-58 averaged 3.09% total rare earth oxide (TREO) over 251m. . .WI21-59 returned 2.76% TREO over 212m."
Clive Maund, CliveMaund.com
(4/17/22)
"With Defense Metals Corp.'s funding in the rear view mirror and news of a later options deal, we could get more positive drilling results soon, as there haven't been any released for a while; this looks likely and it can be expected to trigger another upleg. . .this is considered to be a good time to buy or add to positions before the next upleg starts."
Mark Reichman, Noble Capital Markets
(4/6/22)
"Defense Metals Corp. raised gross proceeds in the amount of $4.6M from the private placement. . .the proceeds will be used for the exploration and development of the company's Wicheeda rare earth element project. Defense Metals expects to commence a 5,300m infill drilling program in May 2022."
Mark Reichman, Noble Capital Markets
(3/16/22)
"We are initiating coverage on Defense Metals Corp. with an Outperform rating. . .the company is advancing its 100%-owned Wicheeda rare earth project. . .the project has several competitive advantages, including a mining friendly location, well-developed infrastructure and a strong technical team."
Clive Maund, CliveMaund.com
(11/1/21)
"It looks like Defense Metals Corp. stock is readying to break above the resistance into a new bull market. . . a sizeable tranche of warrant options expired over the weekend. . .with this overhang removed, the price will be freer to advance."
8/16/2023 – Defense Metals Advances Pre-feasibility Study
8/1/2023 – Defense Metals Engages Hatch Ltd. and SRK Consulting (Canada) Inc. for Wicheeda Rare Earth Element Project Preliminary Feasibility Study
6/6/2023 – REE Stock News - Defense Metals Completes Hydrometallurgical Pilot Plant Testing and Initiates Pre-feasibility Study Design Work
Important Disclosures
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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
Q1 2023
Start hydromet pilot plant
Q2 2023
Advance environmental studies
Q2 2023
Engage potential product purchasers
Q3 2023
Optimize front-end and hydromet flowsheet
Q3 2023
Optimization and scale up of floatation and hydromet pilot plants
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