Enova Mining Limited
AASX:ENV0.00
AUD
+0.00
(+100.00%)
Enova Mining Limited
ASX:ENV
(Australian Securities Exchange)
Recent
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ROIC.AI
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- Enova Mining Limited (ASX:ENV) is an Australia-based exploration company focused on critical minerals, including rare earth elements (REE), titanium, scandium, niobium, lithium, rubidium and uranium; it holds a diversified portfolio of projects across Australia and Brazil, targeting ionic adsorption clays, alkaline complexes, granitic intrusions and alluvial deposits enriched in these commodities. The company operates primarily through its Charley Creek project in Australia's Northern Territory, approximately 110 km northwest of Alice Springs, where it explores for alluvial REE-bearing monazite and xenotime sands, alongside associated rubidium and uranium at nearby Cockroach Dam; in Brazil, Enova maintains substantial tenements exceeding 82,000 hectares across Minas Gerais and São Paulo states, encompassing the CODA group (North, Central, East, XS, XN and South) prospective for REE and titanium in kamafugite-hosted mineralization within the Patos Formation, the Poços de Caldas alkaline intrusive complex with clay-hosted REE systems, the Juquiá alkaline-carbonatite complex, and Lithium Valley projects including East Salinas granitic complex, Carai, Santo Antônio do Jacinto and Resplendor for lithium and REE potential. Founded in 1999 and headquartered at 5B/8 Station Street, Moorabbin, Victoria, the company conducts exploration in one segment—critical minerals discovery—and two main geographies, generating maximum revenue exposure from Australia while expanding Brazilian operations through a local subsidiary. In 2024, Enova executed a transformative expansion strategy, acquiring over 53 tenements in Brazil including Poços de Caldas, Lithium Valley and Juquiá, and advancing the CODA project via a binding option agreement with Rodrigo de Brito Mello followed by drilling confirmation of high-grade REE intercepts up to 8,336 ppm TREO, 74.1m at 1,850 ppm TREO and titanium zones exceeding 15% TiO2; it raised AUD $1.5 million via placement in April 2024 and another AUD $1.5 million in January 2025 to fund drilling, metallurgical programs with CIT Senai in Brazil and SeeChem Horizon in Malaysia, and reconnaissance at East Salinas yielding REE-enriched leuco-granite outcrops up to 1.87% TREO. Recent activities include Phase 1 auger sampling at Poços de Caldas confirming REE up to 5,158 ppm TREO, geochemical sampling at Juquiá up to 6,339 ppm TREO, and metallurgical optimization at Charley Creek with IHC Mining to enhance REE recovery from oversize and fines fractions, alongside 3D geological modeling with Leapfrog software; the company also commenced shallow RC drilling at CODA Central and plans further resource delineation, deep drilling at Cattle Creek, and strategic acquisitions to bolster its position in the global critical minerals supply chain for electric vehicles, renewables and defense applications.