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M&A / Property

Homerun signs LOI for Pedreiras mining tenement

By The Northwire Desk — AI Analysis Sep 12, 2025 · 18:42 HMR · 0.97 Homerun Resources Inc.
HMR · Price

Executive Summary

  • Homerun Resources Inc. signed a binding Letter of Intent to acquire the Pedreiras mining tenement (871.721/2021; 246.36 ha) in Brazil’s Santa Maria Eterna silica sand district.
  • The acquisition adds a 32‑million‑tonne, fully permitted resource and brings total target resources across three CBPM lease acquisitions to >200 million tonnes (including a NI 43‑101 estimate of 63 Mt).
  • Consideration: $1.2 M in Homerun common shares ($1 per share) plus $200 k in warrants (exercisable at $1), subject to TSX‑V approval and a four‑month hold period.

Key Details

  • Tenement: Pedreiras mining tenement (871.721/2021), 246.36 ha, located in the Santa Maria Eterna silica sand district, Belmonte, Bahia, Brazil.
  • Resource: 32 million tonnes measured resource (auger‑drilled to 8 m) filed with ANM; fully permitted with royalty of 30.17 BRL per extracted tonne.
  • Strategic Impact: Third CBPM lease acquisition; total target resource >200 Mt, NI 43‑101 estimate now 63 Mt. Provides uninterrupted access to high‑purity silica sand for Homerun’s solar‑glass and other green‑energy product lines.
  • Capital Outlay: $2.1 M total cash outlay (≈ $150 per tonne implied value).
  • Consideration Structure:
  • $1.2 million in Homerun common shares at $1 per share.
  • $200,000 in share purchase warrants exercisable at $1 per share.
  • Subject to standard director, shareholder, TSX‑V and regulatory approvals; four‑month statutory hold on issued shares.
  • Share Sale Restrictions: Pedreiras will notify Homerun of any intended sales of Homerun shares and may be limited to a maximum of 100,000 shares sold in any given month.
  • Royalty Terms: Fixed royalty payment of 30.17 BRL per tonne extracted, payable to CBPM.

Notable Quotes

“This marks a major milestone for Homerun. With district control, we are positioned to unlock the full potential of Santa Maria Eterna… We have delivered this consolidation with minimal capital, laying the foundation for significant value creation as we advance towards production.” – Brian Leeners, CEO, Homerun Resources Inc.

Read the original news release →

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