ACLARA UPDATES PENCO MODULE PRELIMINARY ECONOMIC ASSESSMENT
Original announcement by orestocks on
- Company
- Aclara Resources Inc.
- Ticker
- ARA.TO
- Exchange
- Unavailable
- Region
- Biobío region, Chile
- Primary commodity
- Rare earth
- Secondary commodities
- Dysprosium, Terbium, Yttrium, Gadolinium, Samarium, Neodymium, Praseodymium, Holmium, Erbium, Thulium, Ytterbium, Lutetium
- Document categories
- Other, Resource update
- Extracted
- 2026-10-19 12:35:13 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Aclara Resources Inc. announced an updated Preliminary Economic Assessment (PEA) for its Penco Module rare earth project in Chile, reporting a post-tax NPV8 of US$344 million and an IRR of 26.1%. The PEA is supported by an updated Mineral Resource Estimate totaling 35.8 Mt Measured and Indicated at 2,095 ppm TREO, with 74% classified as Measured. The project benefits from a high concentration of heavy rare earths, secured first-stage environmental approval, and a vertical integration strategy with Project Dynamo in Louisiana.
Reasoning: The updated Preliminary Economic Assessment for the Penco Module project demonstrates significantly improved economics with a higher NPV and IRR, supported by a large, high-confidence rare earth resource. While capital and operating costs have increased, the project's strategic heavy rare earth content, environmental progress, and vertical integration strategy are strong positives, despite inherent market risks and the preliminary nature of the study.
Positive factors
- Significantly improved project economics with higher NPV and IRR compared to prior PEA
- Large and high-confidence Mineral Resource Estimate with 74% in Measured category
- High concentration of heavy rare earth elements, which are strategically important
- First-stage environmental approval secured, de-risking initial project development
- Vertical integration strategy with downstream processing facilities (Project Dynamo)
- Strong financial backing from key shareholders
Negative factors
- Substantial increase in both capital and operating costs compared to the 2021 PEA
- PEA is preliminary in nature and includes Inferred Mineral Resources, which are speculative
- Market risk associated with REE price forecasts, particularly China's influence on prices
- Second-stage Environmental Impact Assessment (EIA) not yet prepared or submitted
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 34
Classification and evidence
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: The document is a Preliminary Economic Assessment (PEA) for the Penco Module project.
Evidence · text
“ACLARA UPDATES PENCO MODULE PRELIMINARY ECONOMIC ASSESSMENT”
NPV Increasepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The after-tax NPV increased significantly from US$178 million to US$344 million.
Evidence · text
“After-tax NPV8 of US$344 Million... This represents a significant increase from the US$178 million NPV... reported in the Company's Preliminary Economic Assessment for the Penco Module dated September 15, 2021”
IRR Increasepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The after-tax IRR increased from 23.0% to 26.1%.
Evidence · text
“After-tax Internal Rate of Return ("IRR") of 26.1%, with a payback period of 3.2 years, compared to a reported IRR of 23.0% and a payback period of 4.7 years in the 2021 PEA.”
Capex Increasenegative · Story-specific tag
No canonical definition is currently available.
Why it applies: Construction Capex increased by US$115 million compared to the 2021 PEA.
Evidence · text
“AACE Class 5 construction capital expenditure ("Capex") estimated at US$204 million, plus a contingency of US$39 million, for a total of approximately US$244 million. This represents an increase of US$115 million compared to the construction Capex reported in the 2021 PEA.”
Opex Increasenegative · Story-specific tag
No canonical definition is currently available.
Why it applies: Operating costs increased from US$13.6 per tonne to US$28.9 per tonne processed.
Evidence · text
“Operating costs are estimated at US$28.9 per tonne of Mineral Resources processed, compared to US$13.6 per tonne reported in the 2021 PEA.”
Preliminary Studynegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The economic assessment is preliminary in nature and includes Inferred Mineral Resources.
Evidence · text
“The preliminary economic assessment is preliminary in nature. It includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves.”
Market Risknegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The REE price forecast is subject to significant uncertainty due to China's influence on the market.
Evidence · text
“The applied REE price forecast could be significantly different than from those modeled. The applied European price forecast developed by Argus Media assumes an independent supply chain outside of China. The supply chain outside of China is not yet fully developed and China could influence the market through government intervention which could significantly lower prices relative to those applied in the economic analysis.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The PEA was reviewed and approved by multiple independent qualified persons.
Evidence · text
“The scientific and technical information included in this news release and pertaining to the following chapters and sections of the PEA has been reviewed and approved by the following qualified persons, each of whom are independent of Aclara:”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document provides an updated Mineral Resource Estimate for the project.
Evidence · text
“The updated Mineral Resource Estimate ("MRE"), effective September 18, 2026, was prepared in accordance with NI 43-101 and the CIM Definition Standards.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The Mineral Resource Estimate was prepared in accordance with NI 43-101.
Evidence · text
“The updated Mineral Resource Estimate ("MRE"), effective September 18, 2026, was prepared in accordance with NI 43-101 and the CIM Definition Standards.”
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: Nearly 74% of the Measured and Indicated tonnage is classified as Measured Resources, the highest-confidence category.
Evidence · text
“Nearly 74% of the Measured and Indicated tonnage is classified as Measured, the highest-confidence Mineral Resource category.”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource includes a significant portion classified as Indicated Resources.
Evidence · text
“Measured and Indicated Mineral Resources totaling 35.8 million tonnes, with 74% classified as Measured Resources... and the remaining 26% as Indicated Resources”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource includes an additional 2.2 million tonnes of Inferred Mineral Resources, which is a speculative category.
Evidence · text
“An additional 2.2 Mt are classified as Inferred, grading 1,768 ppm TREO.”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The updated classification applies a refined methodology, producing more spatially coherent resource categories and resulting in a high percentage of Measured resources.
Evidence · text
“The updated classification applies a refined Three-Hole Rule methodology to the previously estimated geological blocks, producing more spatially coherent resource categories.”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The total Mineral Resources processed in the PEA increased from 19.9 Mt to 30.8 Mt.
Evidence · text
“increase in total Mineral Resources processed from 19.9 Mt to 30.8 Mt”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The Mineral Resources were reported at a net smelter return cut-off of US$14.62/t.
Evidence · text
“Mineral Resources were reported at a net smelter return cut-off of US$14.62/t”
Extracted facts
Stored fact records: 21. Some facts used in scoring do not have a stored record.
Resource Estimates (21)
measuredPenco Module · treoTonnes: 26400000Grade: 2174Grade Unit: ppmContained Metal: 57369Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- treo
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:b0d9f6b562937ee3c3ee
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 26400000
- Grade
- 2174
- Grade Unit
- ppm
- Contained Metal
- 57369
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Measured resource for TREO represents a high-confidence estimate, forming a strong foundation for the project's economics.
Positive factors
- High confidence Measured category
- Significant tonnage and grade for TREO
- NI 43-101 compliant and QP signed
Evidence · table
“2,174”
Context: 26.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredPenco Module · ndprTonnes: 26400000Grade: 426Grade Unit: ppmContained Metal: 11243Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- ndpr
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:b0d9f6b562937ee3c3ee
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 26400000
- Grade
- 426
- Grade Unit
- ppm
- Contained Metal
- 11243
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Measured resource for NdPr is a high-confidence estimate for critical rare earth elements, supporting the project's value.
Positive factors
- High confidence Measured category
- Significant grade and contained metal for critical NdPr
- NI 43-101 compliant and QP signed
Evidence · table
“426”
Context: 26.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredPenco Module · dysprosiumTonnes: 26400000Grade: 62.2Grade Unit: ppmContained Metal: 1641Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- dysprosium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:b0d9f6b562937ee3c3ee
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 26400000
- Grade
- 62.2
- Grade Unit
- ppm
- Contained Metal
- 1641
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Measured resource for Dysprosium is a high-confidence estimate for a critical heavy rare earth element, enhancing the project's strategic value.
Positive factors
- High confidence Measured category
- Significant grade and contained metal for heavy rare earth Dysprosium
- NI 43-101 compliant and QP signed
Evidence · table
“62.2”
Context: 26.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredPenco Module · terbiumTonnes: 26400000Grade: 9.2Grade Unit: ppmContained Metal: 244Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- terbium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:b0d9f6b562937ee3c3ee
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 26400000
- Grade
- 9.2
- Grade Unit
- ppm
- Contained Metal
- 244
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Measured resource for Terbium is a high-confidence estimate for a critical heavy rare earth element, enhancing the project's strategic value.
Positive factors
- High confidence Measured category
- Significant grade and contained metal for heavy rare earth Terbium
- NI 43-101 compliant and QP signed
Evidence · table
“9.2”
Context: 26.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredPenco Module · yttriumTonnes: 26400000Grade: 388Grade Unit: ppmContained Metal: 10247Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- yttrium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:b0d9f6b562937ee3c3ee
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 26400000
- Grade
- 388
- Grade Unit
- ppm
- Contained Metal
- 10247
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Measured resource for Yttrium is a high-confidence estimate for a critical heavy rare earth element, enhancing the project's strategic value.
Positive factors
- High confidence Measured category
- Significant grade and contained metal for heavy rare earth Yttrium
- NI 43-101 compliant and QP signed
Evidence · table
“388”
Context: 26.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredPenco Module · gadoliniumTonnes: 26400000Grade: 53.1Grade Unit: ppmContained Metal: 1401Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- gadolinium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:b0d9f6b562937ee3c3ee
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 26400000
- Grade
- 53.1
- Grade Unit
- ppm
- Contained Metal
- 1401
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Measured resource for Gadolinium is a high-confidence estimate for a critical heavy rare earth element, enhancing the project's strategic value.
Positive factors
- High confidence Measured category
- Significant grade and contained metal for heavy rare earth Gadolinium
- NI 43-101 compliant and QP signed
Evidence · table
“53.1”
Context: 26.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredPenco Module · samariumTonnes: 26400000Grade: 55.5Grade Unit: ppmContained Metal: 1466Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- samarium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:b0d9f6b562937ee3c3ee
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 26400000
- Grade
- 55.5
- Grade Unit
- ppm
- Contained Metal
- 1466
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Measured resource for Samarium is a high-confidence estimate for a valuable rare earth element, contributing to the project's overall value.
Positive factors
- High confidence Measured category
- Significant grade and contained metal for rare earth Samarium
- NI 43-101 compliant and QP signed
Evidence · table
“55.5”
Context: 26.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedPenco Module · treoTonnes: 9400000Grade: 1872Grade Unit: ppmContained Metal: 17656Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- treo
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:e1858ceda1ad7e2f2607
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 9400000
- Grade
- 1872
- Grade Unit
- ppm
- Contained Metal
- 17656
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Indicated resource for TREO provides a good level of confidence for project planning and economic assessment.
Positive factors
- Good confidence Indicated category
- Significant tonnage and grade for TREO
- NI 43-101 compliant and QP signed
Evidence · table
“1,872”
Context: 9.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedPenco Module · ndprTonnes: 9400000Grade: 372Grade Unit: ppmContained Metal: 3506Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- ndpr
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:e1858ceda1ad7e2f2607
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 9400000
- Grade
- 372
- Grade Unit
- ppm
- Contained Metal
- 3506
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Indicated resource for NdPr provides a good level of confidence for these critical rare earth elements.
Positive factors
- Good confidence Indicated category
- Significant grade and contained metal for critical NdPr
- NI 43-101 compliant and QP signed
Evidence · table
“372”
Context: 9.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedPenco Module · dysprosiumTonnes: 9400000Grade: 51.8Grade Unit: ppmContained Metal: 489Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- dysprosium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:e1858ceda1ad7e2f2607
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 9400000
- Grade
- 51.8
- Grade Unit
- ppm
- Contained Metal
- 489
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Indicated resource for Dysprosium provides a good level of confidence for this critical heavy rare earth element.
Positive factors
- Good confidence Indicated category
- Significant grade and contained metal for heavy rare earth Dysprosium
- NI 43-101 compliant and QP signed
Evidence · table
“51.8”
Context: 9.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedPenco Module · terbiumTonnes: 9400000Grade: 7.8Grade Unit: ppmContained Metal: 73.8Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- terbium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:e1858ceda1ad7e2f2607
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 9400000
- Grade
- 7.8
- Grade Unit
- ppm
- Contained Metal
- 73.8
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Indicated resource for Terbium provides a good level of confidence for this critical heavy rare earth element.
Positive factors
- Good confidence Indicated category
- Significant grade and contained metal for heavy rare earth Terbium
- NI 43-101 compliant and QP signed
Evidence · table
“7.8”
Context: 9.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedPenco Module · yttriumTonnes: 9400000Grade: 323Grade Unit: ppmContained Metal: 3042Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- yttrium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:e1858ceda1ad7e2f2607
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 9400000
- Grade
- 323
- Grade Unit
- ppm
- Contained Metal
- 3042
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Indicated resource for Yttrium provides a good level of confidence for this critical heavy rare earth element.
Positive factors
- Good confidence Indicated category
- Significant grade and contained metal for heavy rare earth Yttrium
- NI 43-101 compliant and QP signed
Evidence · table
“323”
Context: 9.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedPenco Module · gadoliniumTonnes: 9400000Grade: 46Grade Unit: ppmContained Metal: 434Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- gadolinium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:e1858ceda1ad7e2f2607
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 9400000
- Grade
- 46
- Grade Unit
- ppm
- Contained Metal
- 434
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Indicated resource for Gadolinium provides a good level of confidence for this critical heavy rare earth element.
Positive factors
- Good confidence Indicated category
- Significant grade and contained metal for heavy rare earth Gadolinium
- NI 43-101 compliant and QP signed
Evidence · table
“46.0”
Context: 9.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedPenco Module · samariumTonnes: 9400000Grade: 48.7Grade Unit: ppmContained Metal: 459Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- samarium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:e1858ceda1ad7e2f2607
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 9400000
- Grade
- 48.7
- Grade Unit
- ppm
- Contained Metal
- 459
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Indicated resource for Samarium provides a good level of confidence for this valuable rare earth element.
Positive factors
- Good confidence Indicated category
- Significant grade and contained metal for rare earth Samarium
- NI 43-101 compliant and QP signed
Evidence · table
“48.7”
Context: 9.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredPenco Module · treoTonnes: 2200000Grade: 1768Grade Unit: ppmContained Metal: 3848Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- treo
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:ebefa24fa79f7bbd4bd7
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 2200000
- Grade
- 1768
- Grade Unit
- ppm
- Contained Metal
- 3848
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Inferred resource for TREO is a speculative category with lower geological confidence, limiting its use in economic studies.
Positive factors
- NI 43-101 compliant and QP signed
Negative factors
- Inferred category is speculative and cannot support economic studies alone
Evidence · table
“1,768”
Context: 2.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredPenco Module · ndprTonnes: 2200000Grade: 357Grade Unit: ppmContained Metal: 776Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- ndpr
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:ebefa24fa79f7bbd4bd7
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 2200000
- Grade
- 357
- Grade Unit
- ppm
- Contained Metal
- 776
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Inferred resource for NdPr is a speculative category with lower geological confidence, limiting its use in economic studies.
Positive factors
- NI 43-101 compliant and QP signed
Negative factors
- Inferred category is speculative and cannot support economic studies alone
Evidence · table
“357”
Context: 2.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredPenco Module · dysprosiumTonnes: 2200000Grade: 44.5Grade Unit: ppmContained Metal: 96.8Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- dysprosium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:ebefa24fa79f7bbd4bd7
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 2200000
- Grade
- 44.5
- Grade Unit
- ppm
- Contained Metal
- 96.8
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Inferred resource for Dysprosium is a speculative category with lower geological confidence, limiting its use in economic studies.
Positive factors
- NI 43-101 compliant and QP signed
Negative factors
- Inferred category is speculative and cannot support economic studies alone
Evidence · table
“44.5”
Context: 2.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredPenco Module · terbiumTonnes: 2200000Grade: 6.9Grade Unit: ppmContained Metal: 15.1Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- terbium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:ebefa24fa79f7bbd4bd7
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 2200000
- Grade
- 6.9
- Grade Unit
- ppm
- Contained Metal
- 15.1
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Inferred resource for Terbium is a speculative category with lower geological confidence, limiting its use in economic studies.
Positive factors
- NI 43-101 compliant and QP signed
Negative factors
- Inferred category is speculative and cannot support economic studies alone
Evidence · table
“6.9”
Context: 2.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredPenco Module · yttriumTonnes: 2200000Grade: 276Grade Unit: ppmContained Metal: 600Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- yttrium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:ebefa24fa79f7bbd4bd7
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 2200000
- Grade
- 276
- Grade Unit
- ppm
- Contained Metal
- 600
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Inferred resource for Yttrium is a speculative category with lower geological confidence, limiting its use in economic studies.
Positive factors
- NI 43-101 compliant and QP signed
Negative factors
- Inferred category is speculative and cannot support economic studies alone
Evidence · table
“276”
Context: 2.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredPenco Module · gadoliniumTonnes: 2200000Grade: 42.2Grade Unit: ppmContained Metal: 91.8Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- gadolinium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:ebefa24fa79f7bbd4bd7
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 2200000
- Grade
- 42.2
- Grade Unit
- ppm
- Contained Metal
- 91.8
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Inferred resource for Gadolinium is a speculative category with lower geological confidence, limiting its use in economic studies.
Positive factors
- NI 43-101 compliant and QP signed
Negative factors
- Inferred category is speculative and cannot support economic studies alone
Evidence · table
“42.2”
Context: 2.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredPenco Module · samariumTonnes: 2200000Grade: 45.8Grade Unit: ppmContained Metal: 99.7Contained Unit: tView all detailsHide details
Identity
- Project
- Penco Module
- Commodity
- samarium
- Region
- chile
- Reported Region
- Biobío region, Chile
- Ticker
- ARA.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-18T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Andres Beluzan
- Resource group id
- resource:ebefa24fa79f7bbd4bd7
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 2200000
- Grade
- 45.8
- Grade Unit
- ppm
- Contained Metal
- 99.7
- Contained Unit
- t
- Cutoff Grade
- 14.62
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-09-18
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Inferred resource for Samarium is a speculative category with lower geological confidence, limiting its use in economic studies.
Positive factors
- NI 43-101 compliant and QP signed
Negative factors
- Inferred category is speculative and cannot support economic studies alone
Evidence · table
“45.8”
Context: 2.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.