Verde Announces 1.35 Billion Tons of Maiden Mineral Resource Estimate at the Man of War Rare Earths Project

Core Insights - Verde AgriTech Ltd has announced a maiden mineral resource estimate of 1.35 billion tons at 3,437 ppm of Total Rare Earth Oxides (TREO) and 793 ppm of Magnetic Rare Earth Oxides (MREO) for the Man of War Rare Earths Project, establishing it as one of the world's largest rare earths projects [1][2][7] Resource Estimate Details - The Reasonable Prospects for Eventual Economic Extraction (RPEE) is calculated with a 1,000 ppm TREO cut-off, and the estimate includes three targets: Nau de Guerra, Bálsamo, and Alto da Serra located in São Gotardo, Brazil [1][4][8] - The in-situ resource is reported as 1.50 billion tons with 3,430 ppm of TREO and 791 ppm of MREO, indicating a significant potential for the project [3][9] - The resource estimates are compliant with JORC and NI 43-101 standards, prepared under the supervision of Dr. Volodymyr Myadzel, a Qualified Person [10][21] Highlights by Target - Nau de Guerra: 120.09 million tons at 3,628 ppm TREO and 846 ppm MREO - Alto da Serra: 230.21 million tons at 3,684 ppm TREO and 875 ppm MREO - Balsamo: 1,145.62 million tons at 3,358 ppm TREO and 769 ppm MREO - Total: 1,495.93 million tons at 3,430 ppm TREO and 791 ppm MREO [8][9] Project Development and Spin-off - The spin-off of Oby Rare Earths Pty. Ltd. will facilitate focused development of the Man of War project, with a Special General Meeting scheduled for December 20, 2024, for shareholders to vote on the spin-off [6][7] - Oby plans to raise funds in Q1 2025 to advance the project, primarily for a scoping study and environmental impact assessment [6] Economic Potential - The discovery of a significant rare earth resource in Brazil is expected to redefine the global supply chain for critical minerals, positioning the Man of War Project as a key contributor to modern technologies [7]