Leading Edge Materials CEO Kurt Budge joined Steve Darling from Proactive provided an update on the company’s Norra Kärr Heavy Rare Earth Elements Project, including a decision on its application for Strategic Project status under the EU Critical Raw Materials Act. While Norra Kärr was not included in the EU’s first list of Strategic Projects, the company remains committed to the initiative and will reapply once the next call for applications is announced. Despite this outcome, Leading Edge Materials has continued to make significant progress at Norra Kärr. Since submitting its application in August 2024, the company has reached a key milestone by submitting a new application for an Exploitation Concession—a 25-year mining lease—and remains focused on exploring innovative pathways for early and sustainable production. Budge also shared updates on the company’s Rapid Development Plan, which is designed to accelerate the extraction process and shorten the timeline to production of heavy rare earth element (HREE) concentrate and nepheline syenite. A key aspect of this strategy is a phased development approach, starting with a small-scale operation to enable early deposit access, generate initial revenue from nepheline syenite sales, and stockpile HREE concentrate for future processing. This approach is intended to minimize both financial risk and environmental impact while establishing a strong foundation for long-term operations. Budge also discussed ongoing testwork on nepheline syenite and aegirine, which is focused on mineralogy, chemical composition, and leachate chemistry. These findings will be crucial in assessing market opportunities, including potential demand and pricing scenarios. The company is actively exploring higher-value markets, such as functional filler products, where prices have ranged between US$100 and US$500 per tonne. Given that nepheline syenite contributed 11% of total revenue in the 2021 Preliminary Economic Assessment (PEA), the company sees significant upside potential in its future economic contributions. To support this evolving strategy, Leading Edge Materials is preparing to release an updated PEA financial model in Q2 2025, incorporating revised price assumptions and a full review of all economic inputs. #proactiveinvestors #leadingedgematerialscorp #tsxv #lem #nasdaq #lemse #otcqb #lemif #CriticalMinerals #NoraKarr #LeadingEdgeMaterials #MiningUpdate #EuropeRareEarths #NephelineSyenite #MiningNews #ResourceDevelopment #SustainableMining #EUResources #HeavyRareEarths