Ionic Rare Earths Limited is an Australia-based mineral exploration company that is focused on investment in the mining and resource sector. The Company is focused on developing its flagship Makuutu Rare Earths Project (Makuutu) towards production. The Makuutu comprises approximately six licenses covering approximately 300 square kilometers (km2) and is located over 120 kilometers east of the capital city of Kampala in eastern Uganda. The defined mineralization stretches 37 km long and is situated near tier one infrastructure. The Company, through its subsidiary Ionic Technologies International Limited, has developed rare earth element (REE) separation and refining technology and applied this to the recovery and separation of individual rare earths from spent permanent magnets. Its exploration license includes EL00257, EL00147, EL00624, EL00616, EL00148, and EL00450.