# ERE: ANSTO to produce Korsnas MREC sample in new test program

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ere-ansto-to-produce-korsnas-mrec-sample-in-new-test-program--32255a66-1474-41c6-8456-ba11f8f91b34

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03149990

Publisher: asx

Original announcement: 2026-10-07T22:39:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-07T23:13:58.435Z

Atlas analysis updated: 2026-10-07T23:13:58.435Z

- Company: European Resources Limited

- Ticker: ERE

- Exchange: ASX

- Region: Finland

- Primary commodity: Rare earths

- Secondary commodities: Uranium

- Document categories: Metallurgy, Other

- Extracted: 2026-10-07 23:13:59 UTC

Narrative sentiment: 0.40 · Bullish

## Minestarters Atlas summary

European Resources has signed an agreement with ANSTO Minerals to begin Stage Two metallurgical testing, focusing on producing mixed rare earth carbonate \(MREC\) samples. This program follows successful Stage One results and aims to qualify products for potential downstream customers in Europe.

Reasoning: The announcement details a new agreement to advance metallurgical testing from laboratory extraction to mixed rare earth carbonate \(MREC\) production, representing a key de-risking step toward commercialization.

- Positive factor: Advancement to Stage Two metallurgical testing

- Positive factor: Agreement signed with ANSTO Minerals for MREC production

- Positive factor: Successful Stage One extraction results \(92% magnet REE\) provide a strong foundation

- Negative factor: No new assay results reported in this specific announcement

- Negative factor: Commercial production and customer acceptance remain to be demonstrated

Facts used in scoring: 6

## Classification and evidence

**Bench Scale Only**

Polarity: negative

Definition: Only preliminary bench tests completed — no locked-cycle or pilot work.

Why it applies: The current Stage Two program is described as initial small-scale and larger bench-scale batch testing.

Evidence · text

> Initial small-scale MREC test work targeted for completion in Q4 2026, followed by a larger bench-scale batch

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: the document describes a flotation route \("flotation"\)

**Multi-Domain Tested**

Polarity: positive

Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed.

Why it applies: 6 distinct composites were tested

## Extracted facts

Stored fact records: 6. Some facts used in scoring do not have a stored record.

## Metallurgical Results (6)

### Fact 1

[Link to this fact](https://atlas-staging.minestarters.com/news/ere-ansto-to-produce-korsnas-mrec-sample-in-new-test-program--32255a66-1474-41c6-8456-ba11f8f91b34#fact-metallurgical-facts-0)

Korsnäs · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Korsnäs
- Commodity: rare\_earths
- Region: finland
- Reported Region: Finland
- Ticker: ERE

#### Test Work

- Sample: combined magnet rare earths from calcite-free Korsnäs concentrate \(Stage One\)

#### Recovery

- Recovery: 92 %
- Recovery Basis: actual\_test

#### Lab

- Laboratory: ANSTO Minerals

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2026-08-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-07T00:00:00.000Z

Reasoning: Historical Stage One result showing high extraction efficiency.

- Positive factor: High extraction rate of 92% for magnet rare earths

Evidence · text

> previously reported extraction of 92% of combined magnet rare earths from calcite-free Korsnäs concentrate

### Fact 2

[Link to this fact](https://atlas-staging.minestarters.com/news/ere-ansto-to-produce-korsnas-mrec-sample-in-new-test-program--32255a66-1474-41c6-8456-ba11f8f91b34#fact-metallurgical-facts-1)

Korsnäs · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Korsnäs
- Commodity: rare\_earths
- Region: finland
- Reported Region: Finland
- Ticker: ERE

#### Test Work

- Sample: Praseodymium extraction \(Stage One\)

#### Recovery

- Recovery: 94 %
- Recovery Basis: actual\_test

#### Lab

- Laboratory: ANSTO Minerals

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2026-08-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-07T00:00:00.000Z

Reasoning: Historical Stage One component result.

- Positive factor: High specific element extraction

Evidence · text

> Praseodymium extraction reached 94%

### Fact 3

[Link to this fact](https://atlas-staging.minestarters.com/news/ere-ansto-to-produce-korsnas-mrec-sample-in-new-test-program--32255a66-1474-41c6-8456-ba11f8f91b34#fact-metallurgical-facts-2)

Korsnäs · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Korsnäs
- Commodity: rare\_earths
- Region: finland
- Reported Region: Finland
- Ticker: ERE

#### Test Work

- Sample: Neodymium extraction \(Stage One\)

#### Recovery

- Recovery: 92 %
- Recovery Basis: actual\_test

#### Lab

- Laboratory: ANSTO Minerals

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2026-08-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-07T00:00:00.000Z

Reasoning: Historical Stage One component result.

- Positive factor: High specific element extraction

Evidence · text

> neodymium 92%

### Fact 4

[Link to this fact](https://atlas-staging.minestarters.com/news/ere-ansto-to-produce-korsnas-mrec-sample-in-new-test-program--32255a66-1474-41c6-8456-ba11f8f91b34#fact-metallurgical-facts-3)

Korsnäs · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Korsnäs
- Commodity: rare\_earths
- Region: finland
- Reported Region: Finland
- Ticker: ERE

#### Test Work

- Sample: total rare earths plus yttrium \(TREY\) extraction \(Stage One\)

#### Recovery

- Recovery: 93 %
- Recovery Basis: actual\_test

#### Lab

- Laboratory: ANSTO Minerals

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2026-08-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-07T00:00:00.000Z

Reasoning: Historical Stage One total recovery result.

- Positive factor: Strong total REY recovery

Evidence · text

> total rare earths plus yttrium \(TREY\) extraction rose from 86% to 93%

### Fact 5

[Link to this fact](https://atlas-staging.minestarters.com/news/ere-ansto-to-produce-korsnas-mrec-sample-in-new-test-program--32255a66-1474-41c6-8456-ba11f8f91b34#fact-metallurgical-facts-4)

Korsnäs · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Korsnäs
- Commodity: rare\_earths
- Region: finland
- Reported Region: Finland
- Ticker: ERE

#### Test Work

- Sample: Terbium extraction \(Stage One\)

#### Recovery

- Recovery: 69 %
- Recovery Basis: actual\_test

#### Lab

- Laboratory: ANSTO Minerals

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2026-08-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-07T00:00:00.000Z

Reasoning: Historical Stage One component result.

- Negative factor: Lower recovery compared to magnet REE average

Evidence · text

> Terbium and dysprosium extraction improved to 69% and 66%, respectively

### Fact 6

[Link to this fact](https://atlas-staging.minestarters.com/news/ere-ansto-to-produce-korsnas-mrec-sample-in-new-test-program--32255a66-1474-41c6-8456-ba11f8f91b34#fact-metallurgical-facts-5)

Korsnäs · rare\_earths

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Korsnäs
- Commodity: rare\_earths
- Region: finland
- Reported Region: Finland
- Ticker: ERE

#### Test Work

- Sample: Dysprosium extraction \(Stage One\)

#### Recovery

- Recovery: 66 %
- Recovery Basis: actual\_test

#### Lab

- Laboratory: ANSTO Minerals

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2026-08-19T00:00:00.000Z

#### Dates

- Event date: 2026-10-07T00:00:00.000Z

Reasoning: Historical Stage One component result.

Evidence · text

> Terbium and dysprosium extraction improved to 69% and 66%, respectively

## 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.