Digital Twin Milestone and Ongoing Exploration Progress

Heavy Rare Earths Limited (HRE) announced a significant technological advance on 2 November 2026, when its partner Aclara, in collaboration with the Argonne National Laboratory, completed the first phase of a digital twin for heavy‑rare‑earth (HRE) separation processes. The digital twin—a virtual replica that models the physical separation plant—was designed to optimise the separation of critical rare‑earth elements used in high‑performance magnets, wind‑turbine generators, and electric‑vehicle batteries. By providing a virtual test bench, the project aims to accelerate plant design, reduce capital expenditure, and minimise operational risks.

Implications for HRE’s Asset Development

The digital‑twin achievement dovetails with HRE’s ongoing development of its Radium Hill project, where the company recently secured heritage clearance following a collaboration with the Wilyakali Native Title Aboriginal Corporation. Radium Hill sits on an 8‑km corridor of surface polymetallic mineralisation, with measured grades of up to 0.36 % U₃O₈, 1.26 % TREO, 2,236 ppm Y₂O₃, and 959 ppm Sc₂O₃. The company is planning a maiden reverse‑circulation drilling program to target shallow mineralisation, and has submitted a Program for Environment Protection and Rehabilitation (PEPR) that includes a radiation‑management plan. These activities position Radium Hill as a potential source of uranium, thorium, and a suite of rare‑earth elements, including yttrium, scandium, and light‑to‑heavy rare earths.

Market Context and Regional Supply Dynamics

HRE’s focus on rare‑earth supply aligns with broader market trends. A recent report from Rare Earths Americas highlighted a 48 % improvement in leach‑recovery at its Alpha project in Bahia, Brazil, underscoring the importance of advanced processing techniques. Meanwhile, Japan’s trading house Sojitz is diversifying its yttrium supply chain by sourcing from Malaysia in 2027, with a processing plant expansion led by Australian partner Lynas Rare Earths. This move reflects growing demand for yttrium in LEDs, high‑performance glass, and defence applications, and demonstrates the international appetite for Australian‑origin rare‑earth resources.

Financial Snapshot

HRE trades on the ASX All Markets under the ticker “HRE.” As of 1 November 2026, its share price stood at AUD 0.033, down from a 52‑week high of AUD 0.062 but above the 52‑week low of AUD 0.018. With a market capitalisation of approximately AUD 7.54 million and a price‑earnings ratio of –5, the company remains in the early‑stage exploration phase, prioritising capital efficiency and technological innovation over immediate profitability.

Outlook

The convergence of a sophisticated digital‑twin platform, a heritage‑cleared exploration licence, and a supportive regional supply ecosystem positions Heavy Rare Earths Limited to advance from exploration to production readiness. Investors and industry observers will likely monitor the next milestones: completion of the reverse‑circulation drilling program at Radium Hill, approval of the PEPR, and the integration of the digital twin into pilot‑scale separation trials. Should these steps progress as planned, HRE could become a key contributor to Australia’s strategic critical‑materials supply chain, supporting sectors ranging from renewable energy to advanced electronics and defence.