Defense Metals Corp.
Capital Structure
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in mil. unless spec.Company Description
- CEO
- Mark Kevin Tory
- Full Time Employees
- - -
- Sector
- Non-energy minerals
- Industry
- Other metals/Minerals
- Address
- 800 West Pender Street Vancouver BC Canada V6C 2V6
- IPO Date
- Jan 19, 2018
- Website
- defensemetals.com
- Similar Companies
- Business
- Defense Metals Corp. (TSXV:DEFN) engages in the acquisition, exploration, development and evaluation of mineral properties in Canada with a primary focus on rare earth elements for applications in electric vehicles, defense, national security and clean energy technologies; it holds a 100% interest in the Wicheeda Rare Earth Element project comprising over 12 mineral claims covering 11,800 hectares located approximately 80 km northeast of Prince George, British Columbia, which features a proven and probable mineral reserve of 25.5 million tonnes averaging 2.43% total rare earth oxides, measured and indicated resources of 29.2 million tonnes averaging 2.27% total rare earth oxides and inferred resources of 5.5 million tonnes averaging 1.42% total rare earth oxides according to its February 2025 pre-feasibility study. The Vancouver-based company, founded in 2016 and formerly known as First Legacy Mining Corp. until its name change in December 2018, advances the Wicheeda project through mineral resource estimation, metallurgical testing, pre-feasibility and definitive feasibility studies, environmental baseline work, permitting processes and strategic partnerships with indigenous groups and government entities. Recent developments include the filing of a National Instrument 43-101 compliant pre-feasibility study technical report in April 2025 supporting robust economics with high operating margins; a 2024 joint co-design agreement and ongoing collaboration with the McLeod Lake Indian Band including their attendance at project-related assemblies; memorandums of understanding with the Saskatchewan Research Council in October 2024 and a strategic partner in May 2025 for supply chain enhancement and off-take representing significant planned output; a letter of interest from Export Development Canada in June 2025 for up to US$250 million in debt financing; closure of a $5.4 million private placement and $4 million convertible bridge financing in 2025 alongside debt-equity swaps rendering the company debt-free with positive working capital; appointment of Mark Tory as president and CEO in December 2024; and advancement toward a definitive feasibility study commencement in 2026 with hydro-metallurgical plant location optimization by Hatch Ltd. including brownfield sites in British Columbia and potential U.S. locations, ongoing metallurgical refinements and engagement with Canadian and U.S. regulators for permitting support.
Company News
Defense Metals Resource Upgrade Drilling Intersects 2.33% TREO over 153 Metres at the Wicheeda Rare Earth Project
Defense Metals Resource Upgrade Drilling Intersects 2.86% TREO over 65 Metres; Including 6.15% TREO over 20 Metres at the Wicheeda Rare Earth Project
Defense Metals Resource Upgrade Drilling Intersects 2.86% TREO over 65 Metres; Including 6.15% TREO over 20 Metres at the Wicheeda Rare Earth Project
Defense Metals Invited by Natural Resources Canada to Submit a Full Project Proposal for its Wicheeda Processing Feasibility Program
Defense Metals Provides Corporate Update Highlighting Continued Execution and Strategic Momentum
Defense Metals and Hanwha Corporation Sign Non-Binding Memorandum of Understanding To Advance Domestic Rare Earth Supply Chain
Defense Metals Commences Pilot Flotation Test Program at SGS Lakefield for the Wicheeda Rare Earth Project
Defense Metals Announces Commencement of the Spring 2026 Drill Program at Wicheeda Rare Earths Project
Defense Metals Announces Inclusion in New Sprott Rare Earths Ex-China ETF
Defense Metals Receives Conditional Approval for up to C$1.88 Million in Funding for Wicheeda Rare Earth Elements Clean Energy and Transportation Infrastructure Project
Defense Metals Provides Update on Wicheeda Project Development
Defense Metals Showcases Rare Earth Leadership in European Trade Mission Led by Canadian Government
Defense Metals' Wicheeda Project Selected as One of only Three New Promising Projects by the British Columbia Critical Minerals Office for their Advanced Project Initiative
Defense Metals Announces Pilot-Scale Flotation Test Program for Wicheeda Rare Earth Project
Defense Metals Appoints Robin Jones as Vice President, Projects
Defense Metals Provides Joint Letter to Shareholders from Executive Chairman and CEO
Defense Metals Receives Support from the McLeod Lake Indian Band while Meeting in Ottawa with Canadian Government Officials to Advance the Wicheeda Rare Earth Project
Defense Metals Appoints Ali Mahdavi as SVP Corporate Development, and grants incentive stock options
DEFENSE METALS PROVIDES BUSINESS UPDATE
DEFENSE METALS SETTLES DEBT WITH HCF INTERNATIONAL ADVISERS THROUGH EQUITY