Canada's Resouro raises funds to advance rare earth and titanium project in Brazil, with an initial investment demand of 160 million USD

⑴ Canadian mining company Resouro is raising funds to accelerate the development of its rare earth and titanium project in Brazil, with an initial investment requirement of $160 million. The company currently plans to raise 2 million Canadian dollars (approximately $1.4 million) by privately issuing 8 million common shares. ⑵ Resouro stated that the project has a 20-year operating cycle and an average annual ore processing capacity of 500 thousand tons. However, the company emphasized that the current preliminary economic assessment is only an estimate of resource quantities and cannot be considered mineral reserves; further geological exploration is still needed.