Each one in plain English, with the numbers worked through for a shareholder.
16 July 2026resource reserve update▲ GoodMajor
Updated Probable Ore Reserve for the DFS is 146Mt at 3,546ppm TREO, up 42% in tonnes from the July 2025 PFS's 103Mt, with grade down 13%. Contained TREO rises 24% to 517kt, covering a 20-year mine life at 6Mtpa.
9 July 2026resource reserve update▲ GoodMajor
Updated global resource is 1.6Bt at 2,317ppm TREO, up from 1.5Bt at 2,359ppm. Measured resources rise 246% to 128Mt at 2,815ppm after infill drilling at the southern licences feeding the DFS. Measured plus Indicated is 703Mt at 2,617ppm.
18 Nov 2025drilling progress report▲ Good
Wet commissioning of the Poços de Caldas pilot plant (25kg/hr) is complete. Ore processing starts now, and first mixed rare earth carbonate is expected in early December, about a week or two later than the late-November target. Cost is A$1.5M, within budget.
21 July 2025resource reserve update● NeutralMajor
Pre-feasibility study books a maiden Probable Ore Reserve of 103Mt at 4,091ppm TREO. Pre-production capex is US$443M (up 10% from scoping), pre-tax NPV8 US$821M at consensus pricing, IRR 28%, throughput 6Mtpa. Replaces the scoping study's US$1,403M NPV8 and 40.4% IRR.
15 Apr 2025resource reserve update▲ GoodMajor
Maiden Barra do Pacu resource of 389Mt at 2,204ppm TREO, including 77Mt Indicated at 2,917ppm, takes the global Caldeira resource to 1.5Bt at 2,359ppm. It will go into the upcoming PFS. Follows the December 2024 drilling results.
12 Mar 2025resource reserve update▲ GoodMajor
Resource update for Dona Maria 1 & 2 and Cupim Vermelho Norte lifts the Caldeira global resource 50% to 1.1 billion tonnes at 2,413ppm TREO. Measured and Indicated rises 91% to 589Mt. Resolves the pending northern update; Barra do Pacu to follow.
5 Feb 2025drilling result▲ GoodMajor
Aircore drilling at Agostinho, in the north of Caldeira, returned up to 19,183ppm TREO, with magnetic rare earths averaging 30.4% of the total versus the 23.1% resource average. Mineralisation averages 28.4m thick. Eight of 69 licences are now infill drilled.
12 Dec 2024drilling result▲ GoodMajor
Aircore drilling at Barra do Pacu, just south of the Capão do Mel starter pit, hit up to 7,998ppm TREO, with mineralisation averaging 27m thick. Not in the resource or the coming PFS mine plan; seen as upside for the later definitive study.
5 Aug 2024resource reserve update▲ GoodMajor
Figueira resource grows 238% to 170Mt at 2,766ppm TREO, with 138Mt Indicated. Caldeira's global resource rises to 740Mt at 2,572ppm, with 308Mt Measured and Indicated. Pre-Feasibility Study on the three southern licences is scheduled for December 2024.
13 June 2024resource reserve update▲ GoodMajor
Capão do Mel resource upgraded, with 85Mt Measured and Indicated at 3,034ppm TREO, including a 36Mt high-grade core at 4,345ppm. Caldeira's global resource rises to 619Mt at 2,538ppm TREO (from 545Mt). The core supports targeting feed above 4,000ppm early on.
14 May 2024resource reserve update▲ GoodMajor
Soberbo resource up 150% to 229Mt at 2,601ppm TREO, including the project's first Indicated resource (86Mt at 2,730ppm). Caldeira's global resource rises 33% from 409Mt to 545Mt at 2,561ppm TREO. Capão do Mel update and scoping study due soon.
30 Jan 2024drilling result▲ GoodMajor
Diamond holes outside the 409Mt inferred resource hit thick clay mineralisation, led by 143m at 6,406ppm TREO in PIADD001 with elevated terbium and dysprosium (110ppm). Resource updates are due from Q2 2024; the environmental impact statement is due this year, with construction permits targeted late 2025.
14 Dec 2023drilling result▲ GoodMajor
First results from the company's own aircore rig: 277 Soberbo holes include 17m at 6,686ppm TREO. Mineralisation averages 16.2m deep versus 9.3m in historic auger holes (77% deeper). A Soberbo resource re-estimate (currently 92Mt at 2,948ppm) follows once assays are in.
31 Aug 2023drilling result▲ GoodMajor
Results from 22 diamond holes include 149.5m at 8,912ppm TREO in hole CVSDD001, outside the resource, the best intercept yet. A 52m zone averages 12,692ppm, with heavy magnet rare earths 4-5 times resource grade. A 60,000m aircore program has begun.
24 July 2023drilling result▲ GoodMajor
Assays from 27 diamond holes show high-grade rare earths continue below the maiden resource, e.g. 31.2m at 3,769ppm and 58.3m at 2,449ppm. Mineralisation reaches 36m at Capão do Mel and 56m at Figueira, so a future resource could grow. Drilling now expanded to regional targets.
10 July 2023farm in farm out agreement▲ GoodMajor
Binding option to acquire rare earth rights on 18 licences (20.5km2) west of Figueira, lifting total area to 193km2. Pays US$200k for 120-day exclusivity, then a three-year option, and US$1.5M if it acquires the rights.
8 May 2023drilling progress report▲ Good
Eight of 11 new diamond holes found clay extending well below the old shallow auger holes, the deepest from 14m to 54m. Company bought its own drill rig for a 100,000m aircore program; assays still pending. Suggests resource could grow at depth.
1 May 2023resource reserve update▲ GoodMajor
Maiden Caldeira resource of 409Mt at 2,626ppm total rare earth oxide (1,000ppm cut-off), all Inferred, with 24% magnet rare earths. Drawn from shallow holes averaging 6.9m, so open at depth. Fulfils the late-April target; 100,000m drilling to start mid-year.
23 Feb 2023drilling result● Neutral
Palm Springs RC assays: best was 5m at 19.7 g/t gold from 9m at the new Mt Bradley target; syenite holes north of Butchers Creek were modest (best 13m at 0.69 g/t). A 3-5,000m RC program is planned after the wet season, starting with Golden Crown.
17 Jan 2023drilling scheduled▲ Good
Diamond drilling at Caldeira to start the week of 23 January: 25 holes, 20 twinning historic auger holes and 5 on undrilled licences, to test depth below the old 20m maximum. A maiden JORC resource is targeted for early Q2 2023.
28 Nov 2022drilling result● Neutral
Seven RC holes (1,098m) completed at Palm Springs; assays due early 2023. Syenite with about 5% sulphides was hit north of the Butchers Creek pit. Golden Crown could not be drilled because of flooding and is left for 2023.
14 Nov 2022drilling spud● Neutral
A 1,000m RC drill program began at Palm Springs, testing IP anomalies north of the Butchers Creek pit, at the tailings dam and at Mt Bradley. Eight holes are planned, taking about two weeks. Golden Crown is not in this program.
21 Sept 2022drilling result▲ Good
IP survey (six lines, 4,490m, to about 200m depth) found chargeability anomalies along strike of Butchers Creek, Golden Crown and Faugh-a-Ballagh, plus new targets at Mt Bradley and north of the tailings dam. An RC drill program is being designed. No gold assays yet.
15 June 2022drilling scheduled● Neutral
2022 field season starts at Palm Springs: IP survey this week, followed by about 2,000m of reverse circulation drilling at Butchers North and Golden Crown. Resource restated at 5.7Mt at 1.94 g/t for 355koz. Brazil sale described as moving towards completion.
26 Oct 2021drilling result▲ Good
Final 2021 Palm Springs assays: BCRD486 29m at 2.0 g/t gold, including 2m at 8.8 g/t; BCRD482 9m at 1.4 g/t. Confirms the thick hinge-zone model; results feed preliminary economic studies. Completes the program begun in May.
25 Oct 2021drilling result● NeutralMajor
Juruena deep drilling (3 holes, 2,421m) confirmed a porphyry system but not an economic discovery; JUDD043 had 640m at 206 ppm copper. The company will seek a major partner for the porphyry and has started a Juruena gold Scoping Study with GE 21 and mining licence applications.
22 Sept 2021drilling result▲ GoodMajor
First 2021 Palm Springs assays confirm thick gold zones at Butchers Creek: BCRD483 57m at 1.6 g/t, including 18m at 3.1 g/t; BCRD484 32m at 1.4 g/t. Company will now start a Scoping Study (open pit and underground); remaining assays due October.
2 Aug 2021drilling progress report▲ Good
Palm Springs 2021 drilling: 5 of 8 holes done; visible gold seen in BCRD484 within 79m of altered syenite in the fold hinge. Holes BCRD489 and 490 show mineralisation extends 80m south of the resource. Assays due late August; no grades yet.
24 June 2021drilling progress report▲ Good
Second deep hole JUDD043 at Juruena found a zone over 200m thick of molybdenite and copper sulphides, with up to 10% disseminated copper sulphides over 50m. Reached earlier than expected; the company will finish this hole before returning to JUDD042. Assays expected in about 6 weeks.
15 June 2021resource reserve update▲ GoodMajor
Juruena resource lifted 50% to 387,000oz at 6.3 g/t Au (from 261koz in 2016), with Indicated up 170% to 156,800oz at 17 g/t. Delivers the promised update; company plans a Scoping Study update and mining licence application. Combined with Palm Springs, about 750,000oz.
