09:18 AM EST, 12/02/2024 (MT Newswires) -- Verde AgriTech ( VNPKF ) reported Monday new niobium results from the Man of War rare earths project in Brazil.

Results include 1 meter at 2,274 parts per million (ppm) niobium, 1 meter at 2,227 ppm niobium and 1 meter at 1,877 ppm niobium.

"While in isolation the niobium grades might not be economically viable, when combined with the potential future exploration of rare earths, it adds significant value to the project, enhancing its overall attractiveness and strategic importance," said Cristiano Veloso, Verde's founder and CEO.

Verde noted that niobium is a critical mineral used in high-tech industries including renewable energy, electronics and aerospace.

The company's share price rose 6.4% to $0.67 from near 52-week lows last Friday.