Key Highlights

  • European Resources shares were trading at $0.014 during the 13 November 2026 session, down 6.67%.
  • ANSTO test work lifted combined magnet rare earth extraction at Korsnas from 83% to 92% after calcite removal.
  • The company signed an agreement with ANSTO Minerals to produce a lab-scale MREC sample from historical concentrate.

During the Trading session on 13 November 2026, European Resources Ltd (ASX:ERE) shares were trading at $0.014, down 6.67%, while the S&P/ASX 200 was down 0.73% at 9,079.70 at 12:39 pm AEDT. European Resources is a rare earths explorer with its flagship Korsnas project in Finland, and it also holds licences in Slovakia. Its latest update was its September 2026 quarterly activities report, dated 23 October 2026.

Metallurgical progress

Test work by ANSTO Minerals lifted combined magnet rare earth extraction at Korsnas from 83% to 92% after calcite removal. The company said this is a clear advance in developing a flowsheet for the project and towards a bench-scale mixed rare earth carbonate product.

Exploration and sample program

An orientation soil survey detected a standout rare earth zone directly above drill hole KR-316, along with a separate eastern anomaly showing the highest combined rare earth response on the line. After quarter end, the company signed an agreement with ANSTO Minerals for lab-scale production of the MREC sample from a historical lanthanide concentrate stockpile.

Slovakia licences

Ministerial decisions regranted the Nova Bana and Pukanec exploration licences in Slovakia, after the quarter. The company's managing director said the team is now positioned to expand mineral resources while developing an MREC sample for potential customers.

Risks investors are watching

The extraction result comes from laboratory test work, and bench-scale and commercial processing may differ. Soil anomalies are early-stage indicators and do not establish grade or tonnage. The company will need further resource work and funding before a development case can be assessed, and the share price is sensitive to rare earth sentiment.

What to watch ahead

Investors will look for the bench-scale MREC product, updated mineral resources at Korsnas, and the results of further soil and drilling work in Finland.

Final Word

European Resources has improved its rare earth recovery figure and is preparing a sample for customers. Resource expansion and product testing will be the next key steps.