Kendrick Accelerates Drilling to Define Rare Earth Resources at Namibia’s Bonya Project

Kendrick Resources (LSE:KEN) has launched Phase II drilling at the Teufelskuppe and Keishohe rare earth carbonatite complexes within Namibia’s Bonya project, advancing efforts to define a formal resource base. The programme will test all eight identified intrusions at Teufelskuppe alongside several mineralised zones at Keishohe, with the objective of converting historic high-grade exploration results into maiden JORC-compliant mineral resource estimates. The work builds on peer-reviewed channel sampling that indicates strong grades and favourable mineralogical characteristics.

Alongside drilling, the company is undertaking a range of supporting technical studies, including the creation of a digital elevation model, detailed petrological analysis, and bulk sampling. These activities are intended to evaluate breccia-hosted mineralisation and assess the potential for ore sorting, helping to guide future mine planning and metallurgical strategies. By incorporating drilling and trenching data inherited from the 2018 exploration campaign and leveraging the high proportion of fluorocarbonate-hosted rare earths, Kendrick aims to position Bonya as a promising light rare earth project while reducing development risk and strengthening long-term value prospects.

The company’s overall outlook remains constrained by weak financial performance, with no current revenue, ongoing losses, negative cash flow, and a notable decline in equity and assets during 2024. Technical indicators, however, show some supportive signals, including a strong upward trend relative to moving averages and a positive MACD reading, though overbought momentum levels suggest possible short-term volatility. Valuation metrics are also limited by negative earnings and the absence of dividend support.

More about Kendrick Resources PLC

Kendrick Resources PLC is a London-listed mineral exploration and development company focused on rare earth elements and other critical minerals. The company is expanding its asset base through acquisitions, including a 70% interest in prospective exploration licences in Namibia covering the Bonya rare earth project, which targets carbonatite-hosted deposits aligned with increasing demand from clean energy technologies.