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Defense Metals Corp. (DFMTF) – On a Positive Trajectory Going Into 2024

Natural Resources
0 min read


Wednesday, November 29, 2023

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Mineral resource update. Defense Metals recently filed a NI 43-101 compliant mineral resource estimate (MRE) technical report for the Wicheeda Rare Earth Element (REE) Project. The 2023 mineral resource estimate, discussed in our research note dated September 13, represents an 18.2% increase in total rare earth oxide (TREO) and a 31.3% in tonnage compared to the 2021 MRE. Total measured and indicated mineral resources of 34.2 million tonnes, averaging 2.02% TREO is a significant upgrade compared to the previous estimate and can be included in the mine plan for the preliminary feasibility study that is expected to be completed in the first half of 2024.

Laying the ground work for off-take agreements. On Defense Metals’ behalf, SGS Canada shipped samples of mixed rare earth oxide and mixed rare earth carbonate to select processors, refiners, and metals traders in North America (2), Europe (2), and Asia (2). The shipments represent an important step toward future off-take agreements or strategic partnership opportunities. The company estimates a universe of 10 to 12 potential customers and so another set of shipments is expected.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 


Wednesday, November 29, 2023

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Mineral resource update. Defense Metals recently filed a NI 43-101 compliant mineral resource estimate (MRE) technical report for the Wicheeda Rare Earth Element (REE) Project. The 2023 mineral resource estimate, discussed in our research note dated September 13, represents an 18.2% increase in total rare earth oxide (TREO) and a 31.3% in tonnage compared to the 2021 MRE. Total measured and indicated mineral resources of 34.2 million tonnes, averaging 2.02% TREO is a significant upgrade compared to the previous estimate and can be included in the mine plan for the preliminary feasibility study that is expected to be completed in the first half of 2024.

Laying the ground work for off-take agreements. On Defense Metals’ behalf, SGS Canada shipped samples of mixed rare earth oxide and mixed rare earth carbonate to select processors, refiners, and metals traders in North America (2), Europe (2), and Asia (2). The shipments represent an important step toward future off-take agreements or strategic partnership opportunities. The company estimates a universe of 10 to 12 potential customers and so another set of shipments is expected.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

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