# CRI: Jupiter Product Samples Advance Offtake Discussions Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/cri-jupiter-product-samples-advance-offtake-discussions--3857793a-e2a3-4773-b071-94715faccbf0 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03142442 Publisher: asx Original announcement: 2026-09-22T22:12:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-22T23:19:30.173Z Atlas analysis updated: 2026-09-22T23:19:30.173Z - Company: Critica Limited - Ticker: CRI - Exchange: ASX - Region: Western Australia - Primary commodity: Rare earths - Secondary commodities: Iron ore - Document categories: Metallurgy, Agreement transaction - Extracted: 2026-09-22 23:19:30 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Critica Limited has achieved a significant milestone at its Jupiter Rare Earth Project by producing high-purity Mixed Rare Earth Oxide \(MREO\) and iron by-product samples. These samples, grading 98.2% TREO \(28.4% MagREO\) and 64.1% Fe respectively, are the result of an optimized processing flowsheet that has improved recoveries, concentrate grades, and reduced reagent consumption. The availability of these physical products is now advancing commercial engagement and offtake discussions, with Scoping Studies for the Jupiter and Mt Lindsay projects on track for Q3 2026 delivery. Reasoning: Critica Limited has achieved significant metallurgical milestones by producing high-purity Mixed Rare Earth Oxide \(MREO\) and iron by-product samples from its Jupiter project, demonstrating improved processing parameters crucial for commercial validation and advancing offtake discussions. - Positive factor: Production of high-purity MREO and iron by-product samples - Positive factor: MREO sample grades 98.2% TREO with 28.4% MagREO - Positive factor: Iron concentrate sample grades 64.1% Fe - Positive factor: Significant MagREO recovery of ~81% - Positive factor: Improved beneficiation upgrade \(14x\) and mass rejection \(95%\) - Positive factor: Reduced sulphuric acid consumption by ~30% - Positive factor: Physical samples are advancing commercial offtake discussions - Positive factor: Scoping Studies for Jupiter and Mt Lindsay remain on track - Positive factor: JORC compliant reporting with QP sign-off - Negative factor: Bulk samples for testwork were sourced from an Inferred Resource envelope - Negative factor: Further work is underway to optimise iron concentrate grades and mass recovery Facts used in scoring: 2 ## Classification and evidence **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The document reports ~81% MagREO recovery through beneficiation optimisation, which is a strong recovery for rare earths. Evidence · text > ~81% MagREO recovery through beneficiation optimisation **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: The product samples were produced from a 3-tonne pilot beneficiation sample and pilot plant optimisation test work is ongoing. Evidence · text > 3-tonne pilot beneficiation sample **Recovery Improving** Polarity: positive Definition: Recovery improved versus a like-for-like prior test program on the same domain and route. Why it applies: The company states "progressively demonstrated improvements across beneficiation, concentration and downstream processing" and "reduced downstream reagent consumption". Evidence · text > progressively demonstrated improvements across beneficiation, concentration and downstream processing **QP/CP Signed** Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The report includes a Competent Persons Statement signed by Dr. Stuart Owen and mentions Dr Hien Dinh monitored and reviewed the test work. Evidence · text > Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves \(JORC code\). Dr. Owen consents to the inclusion in the report of the matters based on his information in the form and context in which they appear. **JORC Compliant** Polarity: positive Story-specific tag Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The report explicitly states compliance with the "JORC Code, 2012 Edition". Evidence · text > JORC Code, 2012 Edition **Deleterious Elements Present** Polarity: negative Story-specific tag Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: The iron concentrate analysis reports phosphorus \(<0.07%\) and sulfur \(<0.02%\), which are common penalty elements. Evidence · table > <0.07% Context: P **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("concentrate"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: 2 distinct composites were tested ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Metallurgical Results (2) ### pilot plant [Link to this fact](https://atlas-staging.minestarters.com/news/cri-jupiter-product-samples-advance-offtake-discussions--3857793a-e2a3-4773-b071-94715faccbf0#fact-metallurgical-facts-0) Jupiter · rare\_earths #### Identity - Project: Jupiter - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: CRI #### Test Work - Program Status: optimization - Test Type: pilot plant - Processing Route: beneficiation and hydrometallurgical circuit - Sample: representative MREO sample #### Recovery - Recovery: 81 % - Recovery Basis: actual\_test - Conc. Grade: 98.2 - Conc. Grade Unit: % - Mass Pull: 5 % #### Reagents - Reagent Notes: 30% lower sulphuric acid consumption #### Lab - Laboratory: ALS Geochemistry, Perth and GAVAQ Solution, Vietnam and Intertek, Perth - Consultant: GAVAQ Solution and Dr Hien Dinh #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: Production of high-purity MREO samples with excellent grades and improved processing parameters is a major de-risking and commercial milestone. - Positive factor: High purity MREO product achieved - Positive factor: Significant MagREO recovery - Positive factor: High concentrate grade - Positive factor: Reduced reagent consumption - Positive factor: Advancing offtake discussions Evidence · text > Latest MREO sample grades 98.2% TREO, of which 28.4% comprises the highly valued MagREO #### Tags used in scoring **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### pilot plant [Link to this fact](https://atlas-staging.minestarters.com/news/cri-jupiter-product-samples-advance-offtake-discussions--3857793a-e2a3-4773-b071-94715faccbf0#fact-metallurgical-facts-1) Jupiter · iron\_ore #### Identity - Project: Jupiter - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: CRI #### Test Work - Program Status: optimization - Test Type: pilot plant - Processing Route: magnetic and gravity separation - Sample: high-grade magnetite concentrate sample - Grind P80: 225 µm #### Recovery - Recovery Basis: actual\_test - Conc. Grade: 64.1 - Conc. Grade Unit: % - Mass Pull: 1.3 % #### Lab - Laboratory: ALS Geochemistry, Perth and GAVAQ Solution, Vietnam and Intertek, Perth - Consultant: GAVAQ Solution and Dr Hien Dinh #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: Production of a high-grade iron by-product concentrate adds significant optionality and value to the project, supporting commercial engagement. - Positive factor: High-grade iron concentrate produced - Positive factor: Provides additional product optionality - Positive factor: Advancing offtake discussions - Negative factor: Further work underway to optimise grades and mass recovery Evidence · text > high-grade iron concentrate sample grading 64.1% Fe #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.