MoU Signed to Progress Ionic Rare Earth Extraction with Cobra Resources Plc
(19 September 2023, Manchester UK) - Watercycle Technologies Ltd (‘Watercycle’, ‘WCT’, or ‘the Company’), a UK-based innovative deep-technology company, is pleased to announce it has entered into a memorandum of understanding (“MoU”) with Cobra Resources plc (“Cobra”), a rare earth exploration company listed on the London Stock Exchange focused on the Wudinna Project in South Australia.
Dr Ahmed Abdelkarim (WCT), Dr Seb Leaper (WCT), Rupert Verco (Cobra), Isabelle Schenk (WCT)
The MoU between Watercycle and Cobra seeks to utilise Watercycle’s mineral extraction technology platform that is focused on developing sustainable, high-yield, mineral extraction and water treatment systems. The objective of the partnership is to collaborate on sustainable rare earth (“REE”) extraction via membrane desorption and filtration.
The MoU is the first step in forming a partnership to progress REE extraction from Cobra’s Boland ionic REE discovery at Wudinna, where innovation and flowsheet development will form the basis of commercialisation.
Watercycle, which is based in Manchester, UK, has developed a highly experienced technical team, with access to world class facilities and a proven record of innovative ISR mineral extraction design. Through early engagement, Cobra endeavours to fast-track testing to a pilot-scale study, whilst exploring value add opportunities. Through this partnership, Cobra intends to examine alternative approaches to REE extraction that suit Cobra’s REE mineral occurrence.
Sebastian Leaper, CEO of Watercycle, commented: “The metallurgical results from Cobra’s Boland discovery demonstrate high recoveries using weak acids. Coupled with the preferred mining method of ISR, this project aligns with our ambition to enable the sourcing of critical minerals with the lowest possible environmental impact. On the back of our success in lithium extraction from geothermal brines, we are excited to demonstrate the applicability of our DLEC™ technologies to other critical minerals such as rare earths.”
*DLEC ™ – Direct Lithium Extraction & Crystallisation process
Rupert Verco, CEO of Cobra, commented: “Cobra’s immediate priority is building upon our recent metallurgical results to ensure the rapid advancement of the Boland ionic REE discovery, Australia’s only ionic REE deposit with in situ recovery potential. As such, we are very excited to be working with Watercycle who share similar ambitions to create value through the extraction of critical minerals through sustainable practices. What Sebastian Leaper and the team at Watercycle have managed to achieve in the development of DLEC™ technologies for lithium extraction from groundwater is industry-leading and has direct applications to REE desorption extraction, purification, and product generation. What we want to achieve through collaboration is an optimised approach to REE extraction that suits our unique REE mineral occurrence. This will ultimately condense the time between discovery and decision to mine. We will initially be sending samples over to the UK and subsequently expect Watercycle will be involved in the pilot study at Wudinna.”
ENDS
Watercycle Technologies - www.watercycletechnologies.com
Watercycle, spun out from the University of Manchester and backed by business accelerator Aer Ventures, is an innovative, sustainability-driven deep tech company focused on developing high-yield, low-cost mineral extraction, and water treatment systems. Its advanced innovative membrane distillation-crystallisation (‘MDC’) technology is capable of treating highly concentrated water and is initially being utilised in lithium production from sub surface water and brines, as well as lithium-ion spent battery recycling, particularly relevant with regards to the current global transition towards a Circular Economy. The Company is operating from the world class facilities at the Masdar Building at the Graphene Engineering Innovation Centre in Manchester, enabling the team to conduct critical R&D in state-of-the-art laboratories. Watercycle has a strong ethics-based business model that delivers profitable commercial solutions that are also focused on sustainability, environmental protection, and remediation.
About Cobra – www.cobraplc.com
Cobra is defining a unique multi-mineral resource at the Wudinna Project in South Australia's Gawler Craton, a tier one mining and exploration jurisdiction which hosts several world-class mines. Cobra's Wudinna tenements totalling 1,832 km2, and other nearby tenement rights totalling 1,429 km2, contain highly desirable and ionic rare earth mineralisation, amenable to low-cost, low impact in situ recovery mining, and critical to global decarbonisation.
Cobra’s Wudinna tenements also contain extensive orogenic gold mineralisation and are characterised by potentially open-pitable, high-grade gold intersections, with ready access to infrastructure. Cobra has 22 orogenic gold targets outside of the current 279,000 Oz gold JORC Mineral Resource Estimate .