MDM Awarded Lofdal PEA

MDM Engineering Group Ltd. has been awarded the Preliminary Economic Assessment (PEA) for Namibia Rare Earths Inc.’s (NRE) Lofdal rare earth project in Namibia. Lofdal has been developed over a very short period of time since the recognition of the mineral district in 2008, to the discovery of the heavy rare earth enriched zones in 2010. The delineation of a first mineral resource in 2012 followed by the preliminary indication that a xenotime concentrate can be produced from Lofdal and that thorium can be removed marked significant milestones. The potential of Lofdal to host a number of new rare earth deposits, and in particular, deposits with exceptional heavy enrichment, is the essence of the project opportunity with NRE. MDM has been awarded the next phase of work and will complete a 43-101 compliant PEA.