Nanocap Pearl Gull Iron (ASX:PLG) has blamed low rare earths prices on international commodity markets in announcing its decision not to acquire Huemul. In June this year, the company identified geological particulars at Huemul’s acreage that it said were similar to Chinese REE deposits. It had been hoping to farm-into the play. Huemul itself, in June, was seeking to acquire up to 80% in a Chilean company that actually owned the permit rights in question across five tenements. But the company confirmed on Monday that deal is no more. The culprit, according to Pearl Gull, is continued weakness …
