ACDC Metals Limited has taken a notable step in advancing its flagship Goschen Central project in western Victoria by lodging a retention licence application with the Department of Energy, Environment and Climate Change. The application, which covers both the current exploration licence and an additional nine square kilometres where mineralisation extends, is aimed at securing a 10‐year period to continue key development and exploration activities. Completion of the application process is expected in the fourth quarter of 2025. The firm’s progress at Goschen Central has been underpinned by several positive milestones over the past year. Significant advances include an updated mineral resource estimate, a successful bulk metallurgical testwork program that supports product marketing, and the publication of a scoping study. According to the study, the project boasts a low capital intensity approach, with the base case economic model delivering an NPV of A$384 million at a pre-tax IRR of 24%. Notably, the mining plan currently utilises only 15% of the total deposit, leaving substantial potential for future expansion. The project is set to produce key critical and strategic minerals such as zircon, titanium, and rare earth elements, with additional downstream processing technology aimed at efficiently extracting rare earths like terbium, dysprosium, neodymium, and praseodymium. On the financial side, ACDC Metals reports a share price of A$0.041, supported by cash reserves of A$2.29 million and a market capitalization of approximately A$3.07 million, with no debt on its balance sheet. This relatively modest scale reflects its status as an early-stage explorer, however, the robust technical and economic data from the scoping study, coupled with the supportive regulatory landscape in Victoria, suggests potential for significant future value creation. From a sentiment perspective, bullish observers might point to the strong economic fundamentals revealed in the scoping study and the strategic positioning of the Goschen Central project within a politically supportive environment for resource development. The licence application further underlines the company’s commitment to maximizing its resource potential, with ongoing exploration expected to refine and enhance the current estimates. On the bearish side, critics may highlight that the company currently maintains a very low market capitalization and share price, which can be indicative of high risk and limited liquidity. Additionally, as an early-stage project, execution risks and uncertainties surrounding further resource definition and regulatory approvals remain factors to watch closely.