trending Market Intelligence /marketintelligence/en/news-insights/trending/8qJGU5MUAJZ_Gq6wPo8Jsw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Clancy Exploration secures option to acquire Cummins Range rare earth project

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019

Clancy Exploration secures option to acquire Cummins Range rare earth project

Clancy Exploration Ltd. is securing a 100% acquisition option over the Cummins Range rare earth project in Western Australia.

The company said Aug. 2 that it entered into a conditional agreement to acquire 100% of RareX Pty. Ltd., which holds an exclusive option to acquire the project from Element 25 Ltd.

Clancy paid RareX A$25,000 for a 14-day exclusivity period and will issue 60.0 million shares before Sept. 13. Element 25 granted RareX a 90-day exclusive option in early July to acquire Cummins Range for up to A$3.0 million. The option will expire Oct. 3.

If the deal goes through, the company plans to undertake a reverse circulation drill program of up to 5,000 meters to estimate a maiden JORC 2012-compliant mineral resource.

Meanwhile, Clancy said it received binding commitments for a placement to raise A$1.2 million by issuing 67,647,069 new shares at 1.7 Australian cents apiece.