In this ASX small-cap analysis, we drill into Axel Ree (AXL.ASX), a rare earths and gallium project in Brazil's Lithium Valley. With two JORC resources declared—roughly 233 Mt of rare earths and about 100 Mt of gallium—the company is positioned to move from explorer to emerging developer. We unpack the in-situ recovery (ISR) approach, the implications of Area A and Area B, and how a potential premium mixed rare earth carbonate from Area B could boost value. The video also places Axel Ree in context with peers and outlines the near-term milestones that could unlock value, including trial mining and the path to a formal feasibility study.
What we cover:
- Project overview, geography and the dual commodity opportunity
- In-situ recovery: how magnesium sulfate (Epsom salts) unlocks rare earths securely and environmentally
- Area A vs Area B: resource scale, metallurgical work, and the premium carbonate opportunity
- Gallium economics: market size, pricing, and how it sits above REEs
- Trial mining vs PFS/DFS: why the team is choosing a lean, real‑numbers approach and how it fast-tracks development
- Milestones: maiden JORC resources in Area B, Woolwich inferred resource, and the timing for trial mining
- Competitive context: how Gerik mine in Malaysia provides a practical analogue for capex and profitability