{"id":136141,"title":"Kendrick Resources (LON: KEN) Update on Nambian REE Projects","publisher":"Share Talk","author":"sharetalk","published":"2026-05-27T07:29:37+00:00","modified":"2026-05-27T07:29:37+00:00","canonical_url":"https://www.share-talk.com/kendrick-resources-lon-ken-update-on-nambian-ree-projects/","markdown_url":"https://www.share-talk.com/kendrick-resources-lon-ken-update-on-nambian-ree-projects.md","json_url":"https://www.share-talk.com/kendrick-resources-lon-ken-update-on-nambian-ree-projects.json","category":"Mining","categories":["Mining"],"tags":["Bonya Exploration Pty Namibia","Colin Bird","KEN","Kendrick Resources Plc","Kieshöhe","Lüderitz","Namibia","Rare Earth Oxide grades","SW Namibia","Teufelskuppe"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/03/KEN_with_title_3.webp?fit=1200%2C675&quality=80&ssl=1","format":"news","language":"en-GB","content":"**Kendrick Resources (LON: KEN),** the mineral exploration and development company is pleased to advise shareholders of the completion of an internal review and analysis of historic and current work resulting in the emergence of targets consistent with our expectations for the Company’s flagship rare earth projects at Teufelskuppe (“TK”) and Kieshöhe (“KH”) in SW Namibia.  The projects are the subject of a 70% earn-in interest by the Company under a definitive agreement with Bonya Exploration Pty Namibia (“Bonya”). Bonya has title to exploration licence EPL 6691.\n\n**Review Highlights**\n\nØ Unaudited in-house gross project valuation (NPV) of US$ 400M for verified in situ LREO-bearing carbonatites at Teufelskuppe (TK) only\n\nØ All material numbers for this valuation have emerged from current TREO prices, capital costs for similar processing capability and mining and labour costs typical for southern Africa.\n\nØ Current tonnage estimate of 14Mt for TK for above ground mineralised carbonatite only, equates to a gross estimated rare earth inventory of 448 Kt of LREO based on an average head grade of 3.12 wt%.\n\nØ Rare earth-bearing carbonatites shown to extend below the surface outcrops as evidenced by boreholes to 80-115m deep at targets TK1 and TK2.\n\nØ Geological continuity below the surface implies a much larger, resource below the present natural landscape surface\n\nØ Exceptional high-grade carbonatites (up to 4.5% TREO) dominate the central zone at TK and the dyke stockwork.\n\nØ Super magnet rare earths Nd and Pr dominate the LREO rare earth assemblage by economic value to the extent of ca.70% of the total LREO resource.\n\nØ The global REE market is dominated by China and is projected to increase by 130% by 2034\n\nØ The Rare Earth Trading Industry has taken note of the TK and KH projects that have assumed significant focus in the emerging rare earth arena.  \n\n**Chairman of Kendrick Resources, Colin Bird commented** “We are very pleased with the amount and quality of data we inherited for the projects. What has surprised our geologists and engineers is the tenor and continuity of rare earths that exist on both properties and rather than looking for independent small potential resources, we are looking at substantial potential resources on both projects.  The board and management team are single minded in their approach to produce a maiden resource by the end of the third quarter 2026 and to nail down an optimised metallurgical flow sheet. The team has done extremely well in a short time, and the recent fundraising will allow progress on all fronts mentioned above. We are in exciting times in an exciting market, and we look forward to providing Shareholders with further updates”.\n\n**Current Company Assessment**\n\n·    Projected Tier 1 project target intact and supported by exploration results\n\n·    Focus is on a ‘Mine to Magnet’ strategy to unlock value from the TK and KH projects in a timely manner.\n\n**Strategic Review**\n\nKendrick Resources is committed to the transparency attached to objective and independent assessments and reviews of its business plans, progress and decision-making developed by the Kendrick Team whom we hold in high regard both collectively and independently.\n\nThe recently announced fundraising will allow the Company to aggressively pursue its Tier 1 mission, drilling out resources, assessing other reconnaissance targets and completing the assessment of the petrology and mineralogy of the carbonatite mineralisation to underpin a complete metallurgical design.  \n\nFor further information, please contact:\n\n|   |   |\n| --- | --- |\n| Kendrick Resources Plc: Chairman | Tel: +44 2039 616 086 Colin Bird |"}