Harena Resources

Harena (www.harenaresources.com) is a rare earths exploration and development company focused on the Ampasindava Ionic Clay Rare Earth Project in Madagascar (Harena's interest is 100%). The project hosts one of the largest ionic clay rare earth deposits outside of China, with significant concentrations of high-value magnet metals, specifically heavy rare earths, including neodymium (Nd), dysprosium (Dy), and praseodymium (Pr), which are critical for the composition of neodymium magnets (NdFeB). Harena is committed to low-impact, high recovery mining, providing a sustainable supply of critical minerals for the global energy transition and military defence industries as well as meeting the ever-growing demand for NdFeB from the robotics sector.

Management Profile

Ivan Murphy, Executive Chairman

Ivan has over 25 years’ experience in sourcing, structuring, and raising public and private equity for various companies in the natural resources sector. Ivan has held a number of key roles including acting as Director at GazpromBank Invest MENA, Partner at Fairfax Investment Bank, Managing Director of Aberdeen Asset Management (Ireland) Limited, and Executive Chairman of Tantalus Rare Earths AG. the previous owner of the Ampasindava Project. When previously involved in the Ampasindava Project he brought the opportunity to potential development partners in the US and Europe. Ivan was also a founder director of Cove Energy PLC (acquired for $1.5 billion) and secured $20 million in private equity for Aladdin Middle East, a Turkish oil E&P company.

Allan Mulligan, Executive Technical Director

Mining Engineer with extensive experience at operating, exploring and developing mines in Africa. A founder of Walkabout Resources and the Lindi Jumbo Graphite Project.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

• Receive Mining Licence conversion from Ministry in Madagascar
• Finalise Feasibility Study upgrade from PFS to DFS
• Commence design of Pilot Plant at site in Madagascar

6 Months:

• Commence construction of Pilot Plant at site in Madagascar
• Finalise ESIA and submit to ONE for approval

12 Months:

• Initiate final testwork at Pilot Plant
• Commence Front End Engineering and Design
• Secure long term product off-take
• Proceed to FID

What do you think makes your company such a compelling investment?

Harena Rare Earths (HREE) is substantially under-valued in comparison to its peers in Ionic Clay Rare Earth deposits globally. A huge measured, indicated and inferred JORC resource of 600kt of rare earth minerals underpins the value. Mining Licence award is imminent and progress toward on-the-ground testing of proven metallurgical test work is near term. Construction of the simple heap leach operation to produce 300 tonnes/annum of Rare Earth Concentrate is near term.