Brazilian Rare Earths

CG leads A$50m IPO for Brazilian Rare Earths (ASX:BRE)

Canaccord Genuity is pleased to announce it has acted as Lead Manager, Underwriter and Bookrunner for a $50m IPO for Brazilian Rare Earths (ASX:BRE) – an Australian company that has secured a district-scale Tier 1 rare earths project encompassing approximately 1,410km2 within the state of Bahia in Northeast Brazil, a prime mining jurisdiction with a mining friendly government.

Funds raised will be used for exploration drilling and the expansion of their JORC Resource in Bahia. Key exploration priorities are the delineation of a high-grade REE-Nb-Sc ‘source rock’ deposit, expanding the Monte Alto resource base and regional exploration for ionic clay resources with the highest grades/potential economics. Almost all drill holes have intercepted rare earth mineralisation to date.

This IPO builds on CG’s deep expertise globally in the rare earths space over many years.

Approximately 34 million new shares were issued at an offer price of A$1.47. Trading commenced on 21 December 2023 and shares were trading at A$1.60 at market close on the first day.
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