St George raises $5M to boost Brazilian rare | Australian Markets

St George raises $5M to boost Brazilian rare St George raises $5M to boost Brazilian rare

St George raises $5M to boost Brazilian rare | Australian Markets


St George Mining has secured $5 million by means of a strategic placement of 131.6 million shares at $0.038 every, a 13.1 per cent premium to the 30-day volume-weighted average price, to speed up exploration at its Araxá project in Brazil.

The funds, raised from European strategic traders and current shareholders, will allow St George to deploy three diamond drill rigs, up from one, to conduct more than 9000 metres of drilling. The program will begin within weeks.

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It goals to broaden the project’s already globally vital maiden rare earths and niobium useful resource, introduced on April 1 as 40.6 million tonnes at 4.13 per cent complete rare earths oxides (TREO) and 41.2Mt at 0.68 per cent niobium pentoxide. The useful resource stays open in all instructions.

The expanded drilling at Araxá will concentrate on extending the useful resource alongside strike to the west, north and east, in addition to testing deeper mineralisation, whereas changing current inferred assets to the indicated class.

With 5 rigs now working, together with auger and reverse circulation rigs already on-site, St George anticipates a regular circulate of assay outcomes and drilling updates all through the second half of 2025.

The company can be deciphering current airborne magnetic survey knowledge to doubtlessly increase its stock of drilling targets.

Located adjoining to Companhia Brasileira de Metalurgia e Mineração’s (CBMM) world-leading niobium operations, Araxá advantages from established infrastructure and a expert workforce.

It has high-grade niobium and rare earths mineralisation confirmed from floor, together with intercepts of up to 8 per cent niobium pentoxide and 33 per cent TREO.

Beyond exploration, St George is pursuing downstream partnerships, significantly within the United States, the place demand for ex-China rare earths provide is surging, as evidenced by the US Department of Defence and Apple’s current big investments in MP Materials, which owns America’s solely producing rare earths mine.

We are delighted to secure $5 million at a 13.1 per cent premium to our 30-day VWAP, absolutely funding an upscaled diamond drill program at Araxá with minimal dilution. This placement recognises Araxá’s world-class rare earths and niobium useful resource, with high-grade mineralisation from floor and glorious logistics in an established mining area.

Prineas stated that the company’s main drilling, metallurgical testwork and development research intention to broaden the useful resource and fast-track allowing to appeal to sturdy investor curiosity amid world demand for new rare earths provide chains.

The company has joined Brazil’s MAGBRAS Initiative to help a home rare earths provide chain, together with magnet manufacturing and is partaking with US-based entities for potential processing partnerships.

These efforts align with Araxá’s strategic proximity to the US and its potential to provide essential supplies for magnets utilized in technology and defence functions.

St George’s sturdy financials and skilled in-country group, backed by authorities help for expedited approvals, place Araxá as a de-risked, high-potential project.

With a strong leg-up afforded by the location funds, St George is well-equipped to drive fast useful resource growth and advance development research.

St George is set to capitalise on Araxá’s beneficial geography, trendy close by infrastructure and big useful resource potential to ship worth by means of centered exploration and strategic partnerships.

The company’s clear path ahead affords it a rare place within the area to meet the inevitable growing world demand for essential minerals and their downstream merchandise.

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