REE Automotive .(US:REE) Newsfileยท2025-08-12 12:51Core Insights - E-Tech Resources Inc. has provided a corporate update regarding its Eureka Project in Namibia, highlighting the submission of a transfer for the Exclusive Prospecting Licence (EPL 8748) and the designation of nuclear fuels as a commodity [1][2][3] Group 1: Licence Transfer and Ownership Structure - The company has submitted the transfer of EPL 8748 to a new Namibian entity, with E-Tech holding 85% ownership and local partners holding 15%, fulfilling a key condition of the Purchase Agreement [2] - This transfer consolidates project ownership and establishes a framework for future exploration and development activities [2][4] Group 2: Inclusion of Nuclear Fuels - The terms of EPL 8748 have been amended to include nuclear fuels, allowing E-Tech to expand its exploration to include uranium and thorium alongside its existing rare earth element resources [3] - This amendment enhances the long-term value potential of the Eureka Project by broadening its exploration mandate [3][4] Group 3: Future Plans and Strategic Positioning - The company plans to advance targeted exploration programs to define new critical mineral prospects while continuing to expand and de-risk its established rare earth element resource base [4] - The interim CEO emphasized that these developments position the Eureka Project to advance under a supportive framework for both rare earth resources and additional critical minerals [4] Group 4: Project Location and Context - The Eureka Project is located approximately 250 km northwest of Windhoek, Namibia, and 140 km east of Walvis Bay, situated next to the national B1 highway in the Erongo Region [5] - The project lies within the Southern Central Zone of the Neoproterozoic Damara Belt, covering EPL 6762 and surrounding EPL 8748 [6] - Namibia is noted for its political stability, established infrastructure, and transparent mining laws, providing a favorable environment for mining activities [7]