With US-China tensions spiking over critical minerals, Gronnedal’s NdPr-heavy carbonatite-hosted resource – and its potentially much bigger future scale – positions Eclipse as a likely linch-pin in the Western supply chain.
The company’s proposed Nasdaq dual-listing, revealed yesterday, flags its ambition to tap into US capital and aligns with an overall Western imperative to diversify from China’s grip on around 90% of global rare earths supply.
That somewhat unsettling statistic is based on industry figures for China’s near 70% of global mine production, over 90% of processing capacity and its near-monopoly on the production of rare earth magnets.
Eclipse’s multi-commodity portfolio spans Greenland’s Gronnedal rare earths and the old Ivigtût mine’s cryolite, high-purity quartz and fluorite and is complemented by its Australian uranium, vanadium and gold plays.
With its diamond-tipped core rods already turning and global demand for NdPr surging, early trading has witnessed Eclipse’s share price climbing resolutely to A$0.038 cents following its previously persistent end-of-May nadir at A$0.005 cents, an impressive hike of 660% over five and a half months.
And with ‘X’ posts buzzing about drill rigs in Greenland’s icy expanse, this phenomenon may not be just about exploration but also about a strategic play for a decarbonised and more secure future in what is clearly a critical minerals frontier country.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
