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- Key project development milestone achieved
- Mining Concession Application lodged
- Funds raised for Tiros
Resouro Strategic Metals (ASX:RAU) has marked a further step in the advancement of the Novo Mundo gold project in Brazil with the successful lodgement of the Mining Concession Application.
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“Lodging of the Mining Concession Application is a key regulatory step toward converting our trial mining operation at Novo Mundo into a fully licensed, long-term producing asset,” CEO, Christopher Eager, said.
“It reflects the steady execution of our permitting strategy in the Alta Floresta Gold Province and moves us closer to establishing Novo Mundo as a sustainable cash generator for Resouro.”
The area covered comprises around 930 hectares and is the subject of a trial mining operation being conducted pursuant to the previously announced Binding Mining and Processing Agreement for Novo Mundo.
The submission of the Mining Concession Application represents the next stage in the ANM licensing process for Novo Mundo, and once granted, will authorise long-term commercial mining of the area.
“It further strengthens Resouro’s position as a growing gold developer with a meaningful presence in the highly prospective Alta Floresta Gold Province, one of Brazil’s prolific gold-producing regions,” Mr Eager said.
Earlier this month Resouro Strategic announced a non-brokered private placement for gross proceeds of up to C$2,000,000.
Resouro plans to use the proceeds of the offering to scope the pre-feasibility study (PFS), continue to advance its world-class Tiros rare earths and titanium project in Minas Gerais, Brazil, and for general working capital purposes following the company’s June 2026 announcement of a preliminary economic assessment (PEA) for the project.
“We’re encouraged by the interest we’ve seen in our Tiros project since the announcement of our PEA last month,” Mr Eager said.
“This financing will allow us to build on the momentum of that announcement, by starting scoping studies for the PFS and conducting further metallurgical testwork to improve the titanium and rare earths recoveries at Tiros.”
RAU was up 1.67% to 30.5¢. Mkt cap $32.37M.
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