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Highlights:

  • Bayan secures 72 Lode Claims in California’s Mojave Desert, establishing the Desert Star Project near major REE deposits.

  • The project is located just 4.5 km from Mountain Pass, one of the world’s richest rare earth deposits.

  • Shares jumped 71% to 6.2 cents on 7 July 2025 following project announcement and AUD 250,000 capital raise.

Bayan Mining and Minerals Limited (ASX:BMM) saw its share price surge over 71% to 6.2 cents per share on Monday morning after announcing a strategic land acquisition in a globally significant rare earth elements (REE) corridor in California’s Mojave Desert. The new project, named the Desert Star Project, covers approximately 6 km² and includes 72 federal lode claims.

Desert Star Project Positioned in a Tier-1 REE District

The Desert Star Project is located just 4.5 km from the Mountain Pass REE Mine, widely regarded as one of the richest REE deposits globally, and 4.7 km from Dateline Resources’ Colosseum Project. The claims are situated within the Precambrian terrane, the same geologic setting that hosts Mountain Pass.

The project area is characterised by potassic alkaline intrusives, rock types that are typically associated with REE-rich systems. Geophysical studies indicate elevated levels of potassium (K), equivalent thorium (eTh), and equivalent uranium (eU), which are commonly found in alteration halos around carbonatite-hosted REE deposits.

Surface anomalies such as radioactivity and barite occurrences further enhance the exploration potential of the Desert Star claims.

Exploration and Capital Raising Update

Bayan is currently conducting a desktop geological review, with field reconnaissance and rock chip sampling expected to commence shortly. These early-stage activities aim to define prospective targets for further exploration and drilling.

To support the upcoming work program, the company has secured binding commitments to raise AUD 250,000 through a share placement. The placement was priced at AUD 0.04 per share, representing a 14.3% premium to BMM’s last closing price. The raise attracted interest from both existing and new sophisticated and professional investors.