Prospech Limited has advanced its exploration efforts in western Finland by successfully extracting a 500‑kilogram bulk sample from its historic Lanthanide Concentrate Stockpile at the Korsnäs REE Project. The company is now using this material to perform detailed metallurgical test work in both Finland and Australia. In Finland, a 200‑kilogram portion is being examined at Oulu University within the European Union‑funded REMHub consortium, while the remaining 300 kilograms is directed to specialized Australian laboratories. This dual‐stream approach is designed to refine the extraction and purification processes of rare earth elements (REEs), with the aim of upgrading a concentrate graded approximately 2.55% total rare earth oxides (TREO). The test program encompasses a two‑stage bench‑scale campaign. The initial stage involves a series of preparatory processes including regrinding, cyclone desliming, comprehensive flotation tests—with both sighter and locked cycle trials—and additional evaluation of magnetic separation techniques. These methods are expected to concentrate the REE mineralisation into a product weighing between 20 and 30 kilograms. In the following phase, preliminary hydrometallurgical methods will be trialed through processes like acid baking, caustic cracking, staged neutralisation, selective oxidation, and final REE precipitation. The objective is to establish an economical processing flowsheet, with a specific focus on light REEs such as neodymium, praseodymium, and samarium. Historical context further bolsters the project’s prospects, with the original Korsnäs deposit being mined between 1958 and 1972. Although lead was the primary target at the time, historical records indicate that nearly 37,000 tonnes of REE concentrate remain unsold and stockpiled. Recent auger drilling results from June 2024 confirmed the high-grade nature of the material with a TREO concentration of 2.55%, and an enrichment ratio that supports the potential for valuable magnet REEs. Additional mineralogical characterisation reported earlier using scanning electron microscopy revealed that the REEs are predominantly hosted within apatite, with minor monazite inclusions. This discovery has provided confidence in progressing to larger-scale test work and further underpins the technical basis behind optimizing the beneficiation process through flotation and leaching studies. The latest developments carry mixed sentiment for market participants. On the bullish side, the advancement of metallurgical test work and the dual-stream testing approach could unlock significant value from a historically underutilised resource. The detailed technical processes and preliminary results provide a strong foundation for potential future refinements in REE extraction, which is crucial given the increasing demand for these critical elements in modern technologies and renewable energy applications. On the bearish side, the tests remain exploratory and do not yet represent a definitive development decision. Investors should be cautious as these studies are yet to confirm a viable production process or economic feasibility, and further work will be necessary before any large-scale resource developments are proposed. Prospech Limited’s proactive approach in leveraging historical data and advanced testing methods marks a significant step towards capturing value from an overlooked resource, positioning the company well within the evolving European market for strategic minerals.