American Rare Earths (OTCMKTS:ARRNF) Stock Gains Momentum: But Why?

This morning most investors are going to look into those companies which had been in the news last Friday and one of the companies which could come into focus is American Rare Earths (OTCMKTS:ARRNF).

Trading Data

On Friday, ARRNF stock increased 7.88% to $0.1027 with 50.94K shares, compared to volume of 36.09K shares. The stock moved within a range of $0.1027 – 0.1110 after opening trade at $0.1110.

American Rare Earths Reports Positive Metallurgical Test Results

The company had come into the news cycle back on Friday after it made an announcement with regards to a range of metallurgical tests that had been performed on the ore sourced from its Halleck Creek property located in Wyoming. The Halleck Creek project boasts of JORC resource of as much as 1.43 billion tons and could be the biggest rare earth property in the United States at this point. The metallurgy test work that had been conducted was for the purpose of figuring out a way to have low cost processing through the deployment of traditional technology.

The company noted that the latest test work supported the previous results and in the coming weeks further testing would be conducted for generating the final concentrate meant for refinery testing. The internal studies that American Rare Earths conducted had revealed that at this point the yearly ore processing capacity would be 10, 15 and 20 million tons feed rate.