A Closer Look - Rare earth metals miner, Defense Metals (DEFN.V), proving out big numbers at BC property
Rare earth metals were little known before 1960, but in the sixty years since, it has become the foundation for our technologically driven society. You can find rare earth metals in nearly everything electronic from rechargeable batteries to missile guidance systems. There are no substitutes and if there is any supply chain squeezes, the manufacturing of all those convenient and necessary devices that make our life modern, would promptly grind to a halt.
Currently China holds all the cards with approximately 80% of the world's rare earth elements processed in the country. Even without trade spats, China's dominance of the rare earth metals market is a little disconcerting. As such, governments in both Canada and the United States are actively seeking out safer sources. Rare earth metals is already a big market at USD$4.6 billion globally and its only going to get bigger as we switch to a world without fossil fuel. In fact, it is expected that rare earth demand will skyrocket 655% when EVs take over our roads.
Rare earth metals for the most part have had a good year with prices popping anywhere between 20 and 90%. Therefore it is no surprise that Canadian junior explorers are lining up to take advantage of the critical nature of these critical elements, but some juniors, like Vancouver-based Defense Metals (DEFN.V) are raising eyebrows with some impressive chemistry that places its flagship Wicheeda project on the global map for potential rare earth metal monsters. Defense Metals is well ahead of its option obligations and is continuing to propel itself forward with some alacrity. When assay results come back in November from this summer's drill campaign, Defense Metals and its investors may find themselves at the beginning of a financially joyful journey.
Equity.Guru's Gaalen Engen, spoke with Defense Metals CEO and president, Craig Taylor, to get a quick look at the company, the Wicheeda property and its chemistry as well as what investors can look forward to over the next 12 months. Listen in!
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