Technical Study
Resouro Strategic Metals Inc. (RSGOF) PEA milestone for Tiros Project
Resouro Strategic’s Tiros PEA validates a 44% internal rate of return despite pre-revenue burn rates and financing gaps.
Executive Summary
- Resouro Strategic Metals completed a NI 43-101 compliant Preliminary Economic Assessment (PEA) for its Tiros Rare Earths and Titanium Project in Minas Gerais, Brazil.
- The PEA outlines a 20-year starter operation targeting a small, high-grade zone (<1% of the broader 1.4Bt resource).
- Financial metrics project an after-tax NPV of US$714.9 million (8% discount rate) and an after-tax IRR of 44.2%.
- The operation plans to process 500,000 tonnes per annum (tpa) of ore at grades averaging 26.3% TiO2 and 10,832 ppm TREO.
- Mining will utilize simple open-pit methods with a 2.7 strip ratio. Processing includes grinding, beneficiation, calcination, separation, and leach circuits.
- Recovery rates are projected at 68.7% for TiO2 and 67% for rare earths to a mixed rare earth carbonate (MREC) product.
- The project features dry-stack tailings and is located in a region with established infrastructure.
- Next steps include an investor webinar on June 16, 2026, to discuss the PEA and proposed development pathways.
Material Impact
- The PEA release is a direct follow-up to the August 2025 announcement that the company had commenced the PEA and selected a process flowsheet. The market was aware of the impending study.
- The reported economics (44.2% IRR, $714.9M NPV) are robust and exceed typical scoping study expectations for early-stage critical mineral projects, validating the high-grade zone strategy.
- The dual-revenue model (TiO2 concentrate and MREC) and focus on a smaller, high-grade starter operation align with the company's stated goal to minimize initial capital expenditure and environmental impact.
- The news does not introduce new financing, production timelines, or offtake agreements. It remains a technical milestone rather than a commercial breakthrough.
- The concurrent June 1, 2026 agreement for the Novo Mundo Gold Project provides a potential non-dilutive cash flow pathway, which complements the PEA by addressing near-term funding needs without equity dilution.
- Overall, the news is positive and confirms project viability, but it is incremental to the development roadmap and does not alter the pre-revenue, pre-production status.
RSM · Price
Company Overview
- Resouro Strategic Metals Inc. is a Canadian/Australian-listed critical minerals company focused on the Tiros Titanium and Rare Earths Project in Minas Gerais, Brazil.
- The project hosts a JORC/NI 43-101 Measured & Indicated Resource of 1.4 billion tonnes at 12% TiO2 and 4,000 ppm TREO.
- A high-grade sub-zone of 104 million tonnes at ~23% TiO2 and ~9,100 ppm TREO forms the basis for the PEA starter operation.
- The proposed flowsheet targets a dual-product strategy: coarse-particle TiO2 concentrate for traditional markets and fine-particle titanium powder plus mixed rare earth carbonate (MREC).
- The company is also developing the concept of the Campos Altos Critical Metals Park (CACMP), a downstream processing and logistics hub adjacent to the Tiros project.
- Secondary assets include the 100%-owned Novo Mundo Gold Project (~16,700 hectares in Mato Grosso) and the Santa Angela gold project.
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Jun 16, 2026 · 23:47