Ionic Rare Earths (ASX:IXR) share price plummets 19% today

The Ionic Rare Earths Ltd (ASX: IXR) share price is diving today after the company released the results of a completed scoping study.

During late afternoon trade, the mineral exploration company’s shares are going for 3.8 cents, down 19%.

What did Ionic Rare Earths announce?

Investors are heading for the hills, sending Ionic Rare Earths shares south after digest the company’s latest update.

According to its release, Ionic Rare Earths advised it has received positive results from its Makuutu scoping study. The results obtained showed the potential to develop a sustainable, long-life, critical rare earth supply to international markets.

The study looked at an open-pit mine running a modular heap leach operation to create a mixed…