Everest Metals (ASX:EMC) filed a provisional patent application with IP Australia for its proprietary rubidium extraction process utilizing ore from its Mt. Edon critical minerals project in Western Australia, according to a Thursday Australian bourse filing.
The application follows research conducted by the firm in partnership with Edith Cowan University on the extraction of rubidium from Mt. Edon project ore.
The firm is planning to conduct an engineering scoping study on the project, with a high-level initial techno-economic analysis initiated for the destruction process, focusing on both capital expenditure and operational expenditure.
It also plans to transition tests from a batch mode approach to a bench scale setup as it seeks to optimize critical process parameters.
The firm's shares jumped over 9% in recent trading on Thursday, hitting their highest since November 2022.
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