3 ASX small cap rare earth stocks to be watched this month
These three small cap rare earth companies (VMM, NTU and SGQ) are making significant progress in project development, financing and resource expansion. Their activities reflect growing global demand for critical minerals and strong strategic positioning in high-grade rare earth projects.
Viridis Mining and Minerals Limited (ASX: VMM)
received key environmental approval for the Colossus Rare Earth Project including the Preliminary License, confirming the project’s viability and enabling mine planning and future construction in the second half of 2026.
The Northern Concessions expansion supports Viridis’ position in a rich district with high grade rare earths, supporting strategic development and attracting potential partners.
Major financing steps were achieved with letters of support from Bpifrance, EDC and EFA and is showing international backing for project debt and advancing funding certainty.
A $30 million equity deal with Brazilian investors secures staged funding aligns investment with milestones and reinforces credibility in the sector.
Northern Minerals Limited (ASX: NTU)
on 3 February 2026 saw the Federal Court impose $10 million and $4 million penalties on Indian Ocean and Ms Jing Tian for breaching foreign investment rules after the company reported concerns in 2023 and showing its commitment to shareholder protection and compliance
NTU secured international backing for Browns Range with non binding support letters from US EXIM and Export Finance Australia, showing strong allied nation interest in critical minerals.
FEED planning and preliminary metallurgical tests confirmed construction readiness and favorable blending of Dazzler and Wolverine ores, advancing the project toward Final Investment Decision.
Exploration programs identified the new Vulcan prospect and enabled modeling of HREE mineralization across Browns Range, supporting future growth and resource development.
ST George Mining Limited (ASX: SGQ)
5 February 2026 reported exceptional drill results at Araxa, with thick high-grade intervals from surface including up to 15% TREO and 2.7% Nb₂O₅, highlighting the resource’s continuity and potential expansion.
Ongoing drilling with multiple rigs continues to define and expand the Araxa resource with additional assays pending, supporting the possibility of a significant increase in high-grade REE volume.
Previous pilot plant studies confirmed rare earth production feasibility with high purity and recovery, guiding metallurgical test work to optimize processing.
Strategic US partnerships aim to commercialize Araxa’s rare earths, leveraging fragile supply chains and geopolitical demand for non-China sources.
(Source: Company Reports)
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