Kendrick Resources (LSE:KEN) has announced encouraging portable XRF channel sampling results from five surface carbonatite bodies at its Teufelskuppe rare earth project in Namibia. The latest findings confirm widespread, continuous high-grade light rare earth oxide mineralisation across significant widths, supporting the potential for an initial mineral resource estimate based on an estimated 14 million tonnes of exposed carbonatite.
Sampling strengthens confidence in resource potential
The latest sampling programme produced grades of up to 2.94 wt percent light rare earth oxides across 53.5 metres, alongside extensive mineralised intervals including 1.42 wt percent over 197 metres. These results demonstrate both the continuity and scale of the mineralisation, providing further confidence in the project’s resource potential and supporting future mine planning.
With a third reverse circulation drill rig now operating at the site, exploration activity is accelerating as the company works towards delivering its maiden JORC 2012 compliant mineral resource estimate. Certification work is also progressing alongside a preliminary economic assessment, marking another step forward in advancing the Teufelskuppe project.
Development continues despite financial challenges
Kendrick Resources is positioning Teufelskuppe as a significant rare earth development project at a time when demand for critical minerals continues to grow. While operational progress has been positive, the company’s financial profile remains constrained by the absence of revenue, ongoing losses, negative cash flow and a weakened balance sheet that includes negative shareholder equity.
Technical indicators continue to provide positive support for the shares. However, valuation remains difficult to assess because the company is loss-making and does not currently pay a dividend.
About Kendrick Resources PLC
Kendrick Resources PLC is a mineral exploration and development company focused on identifying and advancing projects with exposure to strategic minerals. The company applies exploration, technical evaluation and project development to build value across its portfolio, drawing on extensive experience in southern Africa.
Its current focus is on rare earth exploration, including the Teufelskuppe and Bonya projects in Namibia as well as the Blue Fox licence in northwestern Zambia. At Teufelskuppe, the company is targeting a carbonatite-hosted rare earth deposit containing valuable light rare earth elements such as neodymium and praseodymium.
Kendrick is advancing the project towards a JORC compliant mineral resource estimate with the aim of establishing a new source of critical rare earth materials for international markets.
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