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BRE - Brazilian Rare Earths

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Brazilian Rare Earths Limited (BRE) is a mineral exploration company focused on the discovery and development of critical mineral resources in Brazil.

BRE’s key exploration focus is at the Monte Alto project in Bahia, where the company's exploration team has delineated a JORC estimated resource of 25.2Mt at a grade of 10,022ppm TREO.

Significantly, within the boundaries of the Monte Alto project area, the company has recently discovered exceptionally high-grade REE-Nb-Sc hard rock magmatic mineralisation. The REE-Nb-Sc mineralisation is present across extensive large outcrops and corestones with average grades of 32.7% TREO, niobium of 1.1% Nb2O5, uranium of 4,025ppm U3O8 and scandium of 219ppm Sc2O3.

The company's current exploration model is that this high-grade REE-Nb-Sc mineralisation may represent the "source" rock for the Monte Alto deposit. The company's exploration team is actively testing this model with an extensive regional diamond drilling program

It is anticipated that BRE will list on the ASX during December 2023.

 
and, at 50 mill, a bit more substantial than most 'early days' efforts.

cutting it close to be included in this CY.

Listing date21 December 2023 ;11:00AM AEDT ##
Company contact detailshttps://www.brazilianrareearths.com/
Ph: 61 7 3854 2387
Principal ActivitiesMineral exploration - rare earth elements and criticial minerals
Issue PriceAUD 1.47
Issue TypeOrdinary Fully Paid Shares
Security codeBRE
Capital to be Raised$50,000,000
Expected offer close date07 December 2023
UnderwriterCanaccord Genuity (Australia) LImited (Lead Manager and Underwriter)
 
Gina Rinehart’s foray into rare earths in South America is off and away, after Brazilian Rare Earths traded up nearly 10 per cent on the first day.

BRE hit the bourse on Thursday following a $50 million initial public offering with shares priced at $1.47.

And doing better on day 2.
Screenshot_20231222-152941_CommSec.jpg
 
Why are rare earths in Brazil so hot right now? They're not rare, just expensive to refine.

Any company looking for RE in Brazil can get whatever they want right now.

Going gangbusters. recently raised $80M at $3.30/s for exploration and general working capital.
Seems the exec's will be well paid.
 
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