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    Ionic Rare Earths (ASX:IXR) moves to 60% ownership of Makuutu Rare Earths

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    Ionic Rare Earths (ASX:IXR) has increased its ownership to 60% of Rwenzori Rare Metals Limited, which owns 100% of the Makuutu Rare Earths Project in Uganda.

    The Makuutu Stage 1 Definitive Feasibility Study revealed an initial 35-year mine life with EBITDA of $2.29B with a 32.7% IRR.

    Ionic Rare Earths says it's working on obtaining a Mining Licence Application and completing the Mineral and Mineral Licencing Regulations, 2023.

    Its share price is up 22% the past five days. 

     

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