Perpetual Resources Limited (ASX: PEC) has secured a binding Term Sheet for an option to acquire 100% of the rare earth elements, niobium, and scandium mineral rights in the Raptor project within the Caldeira Rare Earth Complex in Minas Gerais, Brazil. The option covers four licenses totaling 380 hectares adjacent to Meteoric Resources' Tier 1 Caldeira ionic clay REE project. Perpetual plans immediate due diligence, followed by sampling and drilling activities.
The project's proximity to established infrastructure and existing mining operations enhances its appeal. Perpetual aims for aggressive exploration upon option exercise. This strategic move expands Perpetual's multi-commodity portfolio, tapping into Brazil's burgeoning interest in critical minerals projects. Discussions with other landowners indicate plans for further expansion. The binding Term Sheet allows a 90-day due diligence period, extendable for an additional fee, highlighting Perpetual's commitment to thorough assessment.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
