When Defense Metals (TSXV: DEFN) acquired 100% ownership of its flagship Wicheeda rare earth elements deposit in British Columbia this month, it was the latest in a series of milestones the company marked over the past year.

Drilling has intersected visible rare earth element (REE) mineralization in dolomite-carbonatite rocks in all holes, and the preliminary economic assessment (PEA), filed in January, indicates the project has an after-tax net present value with an 8% discount of $404 million, and an internal rate of return of 18%.

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