DY6 Metals (ASX:DY6) has experienced a dramatic surge in its share price, climbing 328.57% to $0.180, following the commencement of preliminary testwork on a bulk sample from its Tundulu Rare Earth and Phosphate Project in Malawi. Auralia Metallurgy in Perth is undertaking this testwork to assess the deposit’s potential for producing rare earth and phosphate concentrate, with results expected in the coming weeks. The Tundulu Project spans 91.5km² and is recognized as a carbonatite ring complex containing rare earth mineralization.
Historical drilling at Tundulu has also revealed high-grade gallium oxide mineralization near the surface. Intercepts include 74 meters at 93.26 grams per tonne of gallium oxide. DY6 Metals aims to become an emerging supplier of rare earths and niobium, holding three promising heavy rare earth and critical metal projects in Southern Malawi. The global gallium market is heavily dominated by China, which currently accounts for 98% of production, highlighting the strategic importance of potential new sources.
