Kendrick Resources PLC (LSE:KEN) has announced new drilling and surface sampling results from its Teufelskuppe rare earth project in Namibia, highlighting high-grade mineralisation across multiple carbonatite bodies both at surface and at depth.
An internal estimate indicates the presence of approximately 14 million tonnes of above-ground material grading an average 3.12% total rare earth oxides (TREO), with some zones returning grades of up to 4.79% TREO. The latest TK2 diamond drill hole intersected an average grade of 3.03% TREO across 112 metres, including higher-grade intervals exceeding 4%.
Resource Development and Processing Potential
Management said the latest results, combined with favourable mineralogy dominated by rare earth fluorcarbonates, strengthen the company’s view that Teufelskuppe could develop into a large-scale and potentially high-ranking rare earth project. The company added that the mineralisation appears suitable for conventional processing methods.
Kendrick Resources PLC is now accelerating work programmes aimed at delivering maiden JORC-compliant mineral resource estimates for both the TK and KH projects. Planned activities include expanded drilling campaigns, metallurgical testing, logistics studies, and preliminary economic assessments as the company advances toward a possible future mine development decision.
Financial Position and Market Outlook
The company’s outlook remains constrained by weak financial fundamentals, including a lack of revenue generation, recurring losses, and continued negative cash flow. Kendrick’s balance sheet also weakened significantly during 2025, with declining asset values and negative equity adding further financial pressure.
Technical indicators remain supportive in the near term due to strong upward momentum in the share price. However, heavily overbought conditions suggest an increased risk of market pullbacks. Valuation metrics remain limited by the company’s loss-making position and the absence of dividend yield data.
More About Kendrick Resources PLC
Kendrick Resources PLC is a mineral exploration and development company focused on rare earth element projects, particularly the Teufelskuppe (TK) and Kieshöhe (KH) carbonatite complexes in Namibia.
Through a 70% earn-in arrangement with Bonya Exploration, the company is targeting high-grade deposits containing strategic rare earth elements such as neodymium and praseodymium, which are widely used in advanced technologies and clean energy applications.
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