OSM: Orion Scoping Study progresses first EU rare earths mine

Original announcement by asx on

Company
Osmond Resources Ltd
Ticker
OSM
Exchange
ASX
Region
Unavailable
Primary commodity
Rare earths
Secondary commodities
Zirconium, Titanium, Hafnium, Monazite, Rutile, Ilmenite, Cerium oxide, Erbium oxide, Thulium oxide, Yttrium oxide, Lanthanum oxide, Praseodymium oxide, Neodymium oxide, Samarium oxide, Europium oxide, Gadolinium oxide, Terbium oxide, Dysprosium oxide, Holmium oxide, Ytterbium oxide, Lutetium oxide, Total rare earth oxides, Magnetic rare earth oxides, Valuable heavy minerals
Document categories
Other, Resource update, Metallurgy
Extracted
2026-10-01 23:06:55 UTC

Analysis by Minestarters Atlas

Atlas analysis published:

Minestarters Atlas analysis

Summary

Osmond Resources Ltd announced highly compelling results from a Scoping Study for its Orión EU Critical Minerals Project in Spain, projecting an unlevered post-tax NPV8 of US$2.31 billion and an IRR of 145% with a low initial capital of US$299 million. The study outlines an owner-operated underground mine producing monazite, zircon, and titanium concentrates, positioning Orión as a strategic source for the EU's first domestic rare earths, zirconium, and titanium supply. The project demonstrates robust economics with potential for negative C1 cash costs for rare earths due to significant by-product credits, despite being preliminary and relying partly on Inferred resources.

Reasoning: The Scoping Study for the Orión EU Critical Minerals Project presents highly compelling financial outcomes, including a high NPV and IRR, low initial capital, and rapid payback. Its strategic importance as a potential first EU source of critical rare earths, zirconium, and titanium, coupled with negative C1 cash costs for rare earths due to by-product credits, is very positive. However, the study is preliminary, relies partly on Inferred resources for its production target, and faces potential funding and supply chain risks for certain equipment.

Positive factors

  • compelling_economics
  • high_irr
  • low_capex
  • quick_payback
  • negative_operating_cost
  • strategic_importance
  • multi_commodity_project
  • established_processing_technology
  • jorc_compliant
  • qp_signed

Negative factors

  • preliminary_study_stage
  • inferred_resource_reliance
  • funding_required
  • potential_dilution
  • whims_export_restrictions
  • bench_scale_only_testwork
  • single_domain_only_testwork

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 131

Classification and evidence

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: The document is a Scoping Study, which is a preliminary technical and economic study equivalent to a Preliminary Economic Assessment (PEA).

Evidence · text

“The Scoping Study referred to in this announcement has been undertaken by Osmond Resources Limited (“OSM” or the “Company”) to ascertain whether a business case can be made for further advancing the project by proceeding to more definitive studies on the viability of the Orión EU Critical Minerals Project”

Low Capexpositive · Story-specific tag

No canonical definition is currently available.

Why it applies: The initial capital estimate is US$299 million, which is considered low for a project of this scale and potential.

Evidence · text

“Low Capex – US$299m (inclusive of 25% contingency)”

High IRRpositive · Story-specific tag

No canonical definition is currently available.

Why it applies: The unlevered Post Tax IRR is 145%, indicating a very strong return on investment.

Evidence · text

“Unlevered Post Tax IRR – 145%”

Quick Paybackpositive · Story-specific tag

No canonical definition is currently available.

Why it applies: The Free Cash Flow payback period is estimated at 6 months from first production, which is exceptionally fast.

Evidence · text

“FCF payback – 6 months”

Negative Operating Costpositive · Story-specific tag

No canonical definition is currently available.

Why it applies: The Life-of-Mine C1 cash cost, net of by-product credits, is negative US$12.67 per tonne of ROM, indicating that by-product credits more than cover operating costs.

Evidence · text

“Life-of-Mine C1 cash cost, net of by-product credits, of -US$12.67 per tonne of ROM”

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The Production Target is based on 29% Inferred Mineral Resources, which carries a low level of geological confidence.

Evidence · text

“The Production Target referred to in this announcement is based on 10% Measured, 61% Indicated and 29% Inferred Mineral Resources from the high-grade Main Seam only”

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: The Mineral Resource underpinning the Production Target has been prepared in accordance with the JORC Code (2012).

Evidence · text

“The Mineral Resource underpinning the Production Target has been prepared by a Competent Person in accordance with the JORC Code (2012).”

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 Mineral Resource is based on information prepared by Mr José Antonio Zuazo Osinaga, a Competent Person who is a Member of the European Federation of Geologists.

Evidence · text

“The information in this report that relates to Mineral Resources is based on, and fairly represents, information and supporting documentation prepared by Mr José Antonio Zuazo Osinaga, a Competent Person who is a Member of the European Federation of Geologists.”

Maiden Resourceneutral

First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The Company released its maiden MRE for Orión on the ASX on 30 Sept 2026.

Evidence · text

“The Company released its maiden MRE for Orión on the ASX on 30 Sept 2026”

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: The MRE includes a Measured category, representing the highest confidence in the resource.

Evidence · table

“Measured”

Context: 2.0

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The MRE includes an Indicated category, providing reasonable geological confidence.

Evidence · table

“Indicated”

Context: 11.9

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The Mineral Resource Estimate is reported at a 4.0% TiO₂ cut-off grade.

Evidence · text

“At a 4.0% TiO₂ cut-off, the combined Main and Upper Seam resource totals 60.0 Mt”

Mill Routeneutral

Processing via mill or concentrator (CIL, CIP, tank leach, flotation).

Why it applies: The processing plant uses conventional gravity, magnetic, electrostatic and flotation separation, which are typical mill-based processes.

Evidence · text

“conventional gravity, magnetic, electrostatic and flotation separation with filtered tailings to be backfilled.”

Bench Scale Onlynegative

Only preliminary bench tests completed — no locked-cycle or pilot work.

Why it applies: The Scoping Study's metallurgical design is based on sighter testwork and batch WHIMS testing, with PFS-level testwork still underway.

Evidence · text

“Sighter testing using a VRM was undertaken to assess its suitability for sample preparation and subsequent metallurgical testwork.”

Single Domain Onlynegative

Testing limited to one composite or domain — representativeness not established.

Why it applies: Current flowsheet development is supported by surface samples, with planned drill core variability testing to define the broader operating envelope, indicating limited domain variability work so far.

Evidence · text

“This supports the use of surface samples for current flowsheet development, while planned drill core variability testing will define the broader operating envelope.”

Low Recoverynegative

Recovery below the weak band for the commodity and processing route.

Why it applies: The TiO2 processing recovery is 36.1%, which is low for a mill route, although it is a co-product.

Evidence · table

“36.1”

Context: TiO2 processing recovery %

Byproduct Commodityneutral

The tested commodity is a byproduct rather than the primary economic driver.

Why it applies: Zircon and titanium mineral revenues provide by-product credits that underpin the potential for negative cash costs for rare earth production.

Evidence · text

“The Scoping Study highlights that Orión has the potential to become a large-scale source of rare earths at negative cash costs, after deducting the zircon and titanium by-product credits.”

Gravity Routeneutral

Gravity separation forms a material part of the flowsheet.

Why it applies: the document describes a gravity route ("gravity")

Multi-Domain Testedpositive

Variability across ore domains (oxide, transition, fresh) has been addressed.

Why it applies: 3 distinct composites were tested

Extracted facts

Stored fact records: 130. Some facts used in scoring do not have a stored record.

Resource Estimates (125)

measuredOrión EU Critical Minerals Project · titanium dioxideTonnes: 2000000Grade: 12.14Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
titanium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
12.14
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a high grade of 12.14% TiO2, providing high confidence for the project's titanium potential.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“12.14”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · zirconium dioxideTonnes: 2000000Grade: 4.18Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zirconium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
4.18
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a strong grade of 4.18% ZrO2, contributing to the project's critical minerals profile.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“4.18”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · hafnium dioxideTonnes: 2000000Grade: 848Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
hafnium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
848
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a notable hafnium grade, adding to the project's critical minerals value.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“848”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · lanthanum oxideTonnes: 2000000Grade: 1554Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lanthanum oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
1554
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a good grade of lanthanum oxide, contributing to the overall rare earth potential.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“1,554”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · cerium oxideTonnes: 2000000Grade: 3459Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
cerium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
3459
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a significant grade of cerium oxide, a key rare earth element.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“3,459”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · praseodymium oxideTonnes: 2000000Grade: 385Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
praseodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
385
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a strong grade of praseodymium oxide, a critical component for magnets.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“385”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · neodymium oxideTonnes: 2000000Grade: 1979Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
neodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
1979
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a high grade of neodymium oxide, a critical component for magnets.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“1,979”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · samarium oxideTonnes: 2000000Grade: 238Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
samarium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
238
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a good grade of samarium oxide, a component for high-temperature magnets.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“238”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · europium oxideTonnes: 2000000Grade: 20Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
europium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
20
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a trace grade of europium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“20”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · gadolinium oxideTonnes: 2000000Grade: 165Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
gadolinium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
165
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a good grade of gadolinium oxide, a component for nuclear and medical applications.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“165”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · terbium oxideTonnes: 2000000Grade: 22Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
terbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
22
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a notable grade of terbium oxide, critical for high-performance magnets.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“22”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · dysprosium oxideTonnes: 2000000Grade: 102Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
dysprosium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
102
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a good grade of dysprosium oxide, critical for high-performance magnets.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“102”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · holmium oxideTonnes: 2000000Grade: 18Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
holmium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
18
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a trace grade of holmium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“18”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · erbium oxideTonnes: 2000000Grade: 49Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
erbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
49
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a trace grade of erbium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“49”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · thulium oxideTonnes: 2000000Grade: 7Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
thulium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
7
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a trace grade of thulium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“7”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · ytterbium oxideTonnes: 2000000Grade: 60Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ytterbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
60
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a trace grade of ytterbium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“60”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · lutetium oxideTonnes: 2000000Grade: 9Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lutetium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
9
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a trace grade of lutetium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“9”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · yttrium oxideTonnes: 2000000Grade: 527Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
yttrium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
527
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a good grade of yttrium oxide, a critical rare earth element.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“527”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · total rare earth oxidesTonnes: 2000000Grade: 8595Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
total rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
8595
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a high grade of total rare earth oxides, indicating significant rare earth potential.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“8,595”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · magnetic rare earth oxidesTonnes: 2000000Grade: 2488Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
magnetic rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
2488
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a high grade of magnetic rare earth oxides, crucial for magnet production.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“2,488”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · rutileTonnes: 2000000Grade: 10.1Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
rutile
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
10.1
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a high rutile grade, indicating strong titanium potential.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“10.1”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · ilmeniteTonnes: 2000000Grade: 3.8Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ilmenite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
3.8
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a good ilmenite grade, contributing to the titanium production.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“3.8”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · zirconTonnes: 2000000Grade: 6.2Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zircon
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
6.2
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a high zircon grade, supporting the project's zirconium potential.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“6.2”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · monaziteTonnes: 2000000Grade: 1.2Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
monazite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
1.2
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a high monazite grade, indicating strong rare earth potential.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“1.2”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · valuable heavy mineralsTonnes: 2000000Grade: 21.4Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
valuable heavy minerals
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:a4b708ac2265f6b07a99
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
2000000
Grade
21.4
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Measured resource with a very high valuable heavy minerals grade, indicating significant overall mineral content.

Positive factors

  • measured_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“21.4”

Context: 2.0

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · titanium dioxideTonnes: 11900000Grade: 10.86Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
titanium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
10.86
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a high grade of 10.86% TiO2, providing good confidence for the project's titanium potential.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“10.86”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · zirconium dioxideTonnes: 11900000Grade: 3.66Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zirconium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
3.66
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a strong grade of 3.66% ZrO2, contributing to the project's critical minerals profile.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“3.66”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · hafnium dioxideTonnes: 11900000Grade: 739Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
hafnium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
739
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a notable hafnium grade, adding to the project's critical minerals value.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“739”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · lanthanum oxideTonnes: 11900000Grade: 1384Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lanthanum oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
1384
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a good grade of lanthanum oxide, contributing to the overall rare earth potential.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“1,384”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · cerium oxideTonnes: 11900000Grade: 3065Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
cerium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
3065
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a significant grade of cerium oxide, a key rare earth element.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“3,065”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · praseodymium oxideTonnes: 11900000Grade: 341Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
praseodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
341
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a strong grade of praseodymium oxide, a critical component for magnets.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“341”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · neodymium oxideTonnes: 11900000Grade: 1736Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
neodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
1736
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a high grade of neodymium oxide, a critical component for magnets.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“1,736”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · samarium oxideTonnes: 11900000Grade: 211Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
samarium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
211
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a good grade of samarium oxide, a component for high-temperature magnets.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“211”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · europium oxideTonnes: 11900000Grade: 18Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
europium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
18
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a trace grade of europium oxide, contributing to the overall rare earth basket.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“18”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · gadolinium oxideTonnes: 11900000Grade: 147Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
gadolinium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
147
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a good grade of gadolinium oxide, a component for nuclear and medical applications.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“147”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · terbium oxideTonnes: 11900000Grade: 19Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
terbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
19
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a notable grade of terbium oxide, critical for high-performance magnets.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“19”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · dysprosium oxideTonnes: 11900000Grade: 91Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
dysprosium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
91
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a good grade of dysprosium oxide, critical for high-performance magnets.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“91”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · holmium oxideTonnes: 11900000Grade: 16Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
holmium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
16
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a trace grade of holmium oxide, contributing to the overall rare earth basket.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“16”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · erbium oxideTonnes: 11900000Grade: 44Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
erbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
44
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a trace grade of erbium oxide, contributing to the overall rare earth basket.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“44”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · thulium oxideTonnes: 11900000Grade: 7Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
thulium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
7
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a trace grade of thulium oxide, contributing to the overall rare earth basket.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“7”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · ytterbium oxideTonnes: 11900000Grade: 53Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ytterbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
53
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a trace grade of ytterbium oxide, contributing to the overall rare earth basket.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“53”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · lutetium oxideTonnes: 11900000Grade: 8Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lutetium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
8
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a trace grade of lutetium oxide, contributing to the overall rare earth basket.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“8”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · yttrium oxideTonnes: 11900000Grade: 474Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
yttrium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
474
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a good grade of yttrium oxide, a critical rare earth element.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“474”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · total rare earth oxidesTonnes: 11900000Grade: 7614Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
total rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
7614
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a high grade of total rare earth oxides, indicating significant rare earth potential.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“7,614”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · magnetic rare earth oxidesTonnes: 11900000Grade: 2187Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
magnetic rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
2187
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a high grade of magnetic rare earth oxides, crucial for magnet production.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“2,187”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · rutileTonnes: 11900000Grade: 9.1Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
rutile
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
9.1
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a high rutile grade, indicating strong titanium potential.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“9.1”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · ilmeniteTonnes: 11900000Grade: 3.4Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ilmenite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
3.4
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a good ilmenite grade, contributing to the titanium production.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“3.4”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · zirconTonnes: 11900000Grade: 5.4Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zircon
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
5.4
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a high zircon grade, supporting the project's zirconium potential.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“5.4”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · monaziteTonnes: 11900000Grade: 1.1Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
monazite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
1.1
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a high monazite grade, indicating strong rare earth potential.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“1.1”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

indicatedOrión EU Critical Minerals Project · valuable heavy mineralsTonnes: 11900000Grade: 19Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
valuable heavy minerals
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:068ced341a951a2d3512
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
indicated
Tonnes
11900000
Grade
19
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Indicated resource with a very high valuable heavy minerals grade, indicating significant overall mineral content.

Positive factors

  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“19.0”

Context: 11.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · titanium dioxideTonnes: 13800000Grade: 11.05Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
titanium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
11.05
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a high grade of 11.05% TiO2, providing good confidence for the project's titanium potential.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“11.05”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · zirconium dioxideTonnes: 13800000Grade: 3.74Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zirconium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
3.74
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a strong grade of 3.74% ZrO2, contributing to the project's critical minerals profile.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“3.74”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · hafnium dioxideTonnes: 13800000Grade: 755Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
hafnium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
755
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a notable hafnium grade, adding to the project's critical minerals value.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“755”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · lanthanum oxideTonnes: 13800000Grade: 1408Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lanthanum oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
1408
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a good grade of lanthanum oxide, contributing to the overall rare earth potential.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“1,408”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · cerium oxideTonnes: 13800000Grade: 3121Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
cerium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
3121
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a significant grade of cerium oxide, a key rare earth element.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“3,121”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · praseodymium oxideTonnes: 13800000Grade: 347Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
praseodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
347
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a strong grade of praseodymium oxide, a critical component for magnets.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“347”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · neodymium oxideTonnes: 13800000Grade: 1771Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
neodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
1771
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a high grade of neodymium oxide, a critical component for magnets.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“1,771”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · samarium oxideTonnes: 13800000Grade: 215Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
samarium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
215
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a good grade of samarium oxide, a component for high-temperature magnets.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“215”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · europium oxideTonnes: 13800000Grade: 18Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
europium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
18
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a trace grade of europium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“18”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · gadolinium oxideTonnes: 13800000Grade: 150Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
gadolinium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
150
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a good grade of gadolinium oxide, a component for nuclear and medical applications.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“150”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · terbium oxideTonnes: 13800000Grade: 20Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
terbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
20
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a notable grade of terbium oxide, critical for high-performance magnets.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“20”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · dysprosium oxideTonnes: 13800000Grade: 92Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
dysprosium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
92
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a good grade of dysprosium oxide, critical for high-performance magnets.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“92”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · holmium oxideTonnes: 13800000Grade: 16Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
holmium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
16
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a trace grade of holmium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“16”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · erbium oxideTonnes: 13800000Grade: 45Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
erbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
45
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a trace grade of erbium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“45”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · thulium oxideTonnes: 13800000Grade: 7Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
thulium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
7
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a trace grade of thulium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“7”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · ytterbium oxideTonnes: 13800000Grade: 54Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ytterbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
54
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a trace grade of ytterbium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“54”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · lutetium oxideTonnes: 13800000Grade: 8Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lutetium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
8
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a trace grade of lutetium oxide, contributing to the overall rare earth basket.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“8”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · yttrium oxideTonnes: 13800000Grade: 482Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
yttrium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
482
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a good grade of yttrium oxide, a critical rare earth element.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“482”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · total rare earth oxidesTonnes: 13800000Grade: 7753Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
total rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
7753
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a high grade of total rare earth oxides, indicating significant rare earth potential.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“7,753”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · magnetic rare earth oxidesTonnes: 13800000Grade: 2230Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
magnetic rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
2230
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a high grade of magnetic rare earth oxides, crucial for magnet production.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“2,230”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · rutileTonnes: 13800000Grade: 9.2Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
rutile
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
9.2
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a high rutile grade, indicating strong titanium potential.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“9.2”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · ilmeniteTonnes: 13800000Grade: 3.5Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ilmenite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
3.5
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a good ilmenite grade, contributing to the titanium production.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“3.5”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · zirconTonnes: 13800000Grade: 5.6Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zircon
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
5.6
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a high zircon grade, supporting the project's zirconium potential.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“5.6”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · monaziteTonnes: 13800000Grade: 1.1Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
monazite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
1.1
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a high monazite grade, indicating strong rare earth potential.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“1.1”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

measuredOrión EU Critical Minerals Project · valuable heavy mineralsTonnes: 13800000Grade: 19.3Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
valuable heavy minerals
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:dfa5cf63f2a1c3bf52e5
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
measured
Tonnes
13800000
Grade
19.3
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Combined Measured and Indicated resource with a very high valuable heavy minerals grade, indicating significant overall mineral content.

Positive factors

  • measured_resource
  • indicated_resource
  • jorc_compliant
  • qp_signed
  • maiden_resource

Evidence · table

“19.3”

Context: 13.8

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · titanium dioxideTonnes: 35900000Grade: 10Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
titanium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
10
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a high grade of 10.00% TiO2, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“10.00”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · zirconium dioxideTonnes: 35900000Grade: 3.3Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zirconium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
3.3
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a strong grade of 3.30% ZrO2, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“3.30”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · hafnium dioxideTonnes: 35900000Grade: 665Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
hafnium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
665
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a notable hafnium grade, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“665”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · lanthanum oxideTonnes: 35900000Grade: 1260Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lanthanum oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
1260
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a good grade of lanthanum oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“1,260”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · cerium oxideTonnes: 35900000Grade: 2762Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
cerium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
2762
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a significant grade of cerium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“2,762”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · praseodymium oxideTonnes: 35900000Grade: 310Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
praseodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
310
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a strong grade of praseodymium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“310”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · neodymium oxideTonnes: 35900000Grade: 1575Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
neodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
1575
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a high grade of neodymium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“1,575”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · samarium oxideTonnes: 35900000Grade: 191Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
samarium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
191
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a good grade of samarium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“191”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · europium oxideTonnes: 35900000Grade: 16Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
europium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
16
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a trace grade of europium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“16”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · gadolinium oxideTonnes: 35900000Grade: 134Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
gadolinium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
134
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a good grade of gadolinium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“134”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · terbium oxideTonnes: 35900000Grade: 18Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
terbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
18
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a notable grade of terbium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“18”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · dysprosium oxideTonnes: 35900000Grade: 83Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
dysprosium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
83
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a good grade of dysprosium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“83”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · holmium oxideTonnes: 35900000Grade: 15Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
holmium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
15
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a trace grade of holmium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“15”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · erbium oxideTonnes: 35900000Grade: 40Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
erbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
40
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a trace grade of erbium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“40”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · thulium oxideTonnes: 35900000Grade: 6Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
thulium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
6
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a trace grade of thulium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“6”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · ytterbium oxideTonnes: 35900000Grade: 48Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ytterbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
48
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a trace grade of ytterbium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“48”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · lutetium oxideTonnes: 35900000Grade: 8Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lutetium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
8
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a trace grade of lutetium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“8”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · yttrium oxideTonnes: 35900000Grade: 438Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
yttrium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
438
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a good grade of yttrium oxide, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“438”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · total rare earth oxidesTonnes: 35900000Grade: 6901Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
total rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
6901
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a high grade of total rare earth oxides, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“6,901”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · magnetic rare earth oxidesTonnes: 35900000Grade: 1984Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
magnetic rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
1984
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a high grade of magnetic rare earth oxides, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“1,984”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · rutileTonnes: 35900000Grade: 8.3Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
rutile
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
8.3
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a high rutile grade, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“8.3”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · ilmeniteTonnes: 35900000Grade: 3.2Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ilmenite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
3.2
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a good ilmenite grade, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“3.2”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · zirconTonnes: 35900000Grade: 4.9Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zircon
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
4.9
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a high zircon grade, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“4.9”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · monaziteTonnes: 35900000Grade: 1Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
monazite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
1
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a high monazite grade, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“1.0”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · valuable heavy mineralsTonnes: 35900000Grade: 17.4Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
valuable heavy minerals
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:6a4efc68c279b0e4b16e
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
35900000
Grade
17.4
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Inferred resource with a very high valuable heavy minerals grade, but with lower geological confidence.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“17.4”

Context: 35.9

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · titanium dioxideTonnes: 49700000Grade: 10.29Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
titanium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
10.29
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a high grade of 10.29% TiO2, indicating overall titanium potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“10.29”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · zirconium dioxideTonnes: 49700000Grade: 3.42Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zirconium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
3.42
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a strong grade of 3.42% ZrO2, indicating overall zirconium potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“3.42”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · hafnium dioxideTonnes: 49700000Grade: 690Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
hafnium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
690
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a notable hafnium grade, indicating overall hafnium potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“690”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · lanthanum oxideTonnes: 49700000Grade: 1301Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lanthanum oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
1301
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a good grade of lanthanum oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“1,301”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · cerium oxideTonnes: 49700000Grade: 2862Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
cerium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
2862
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a significant grade of cerium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“2,862”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · praseodymium oxideTonnes: 49700000Grade: 320Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
praseodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
320
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a strong grade of praseodymium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“320”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · neodymium oxideTonnes: 49700000Grade: 1629Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
neodymium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
1629
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a high grade of neodymium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“1,629”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · samarium oxideTonnes: 49700000Grade: 198Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
samarium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
198
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a good grade of samarium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“198”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · europium oxideTonnes: 49700000Grade: 16Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
europium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
16
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a trace grade of europium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“16”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · gadolinium oxideTonnes: 49700000Grade: 138Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
gadolinium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
138
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a good grade of gadolinium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“138”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · terbium oxideTonnes: 49700000Grade: 18Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
terbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
18
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a notable grade of terbium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“18”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · dysprosium oxideTonnes: 49700000Grade: 85Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
dysprosium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
85
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a good grade of dysprosium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“85”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · holmium oxideTonnes: 49700000Grade: 15Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
holmium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
15
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a trace grade of holmium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“15”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · erbium oxideTonnes: 49700000Grade: 42Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
erbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
42
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a trace grade of erbium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“42”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · thulium oxideTonnes: 49700000Grade: 6Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
thulium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
6
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a trace grade of thulium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“6”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · ytterbium oxideTonnes: 49700000Grade: 50Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ytterbium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
50
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a trace grade of ytterbium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“50”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · lutetium oxideTonnes: 49700000Grade: 8Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
lutetium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
8
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a trace grade of lutetium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“8”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · yttrium oxideTonnes: 49700000Grade: 450Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
yttrium oxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
450
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a good grade of yttrium oxide, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“450”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · total rare earth oxidesTonnes: 49700000Grade: 7139Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
total rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
7139
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a high grade of total rare earth oxides, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“7,139”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · magnetic rare earth oxidesTonnes: 49700000Grade: 2053Grade Unit: ppmView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
magnetic rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
2053
Grade Unit
ppm
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a high grade of magnetic rare earth oxides, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“2,053”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · rutileTonnes: 49700000Grade: 8.6Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
rutile
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
8.6
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a high rutile grade, indicating overall titanium potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“8.6”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · ilmeniteTonnes: 49700000Grade: 3.3Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
ilmenite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
3.3
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a good ilmenite grade, indicating overall titanium potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“3.3”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · zirconTonnes: 49700000Grade: 5.1Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zircon
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
5.1
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a high zircon grade, indicating overall zirconium potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“5.1”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · monaziteTonnes: 49700000Grade: 1Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
monazite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
1
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a high monazite grade, indicating overall rare earth potential.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“1.0”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

inferredOrión EU Critical Minerals Project · valuable heavy mineralsTonnes: 49700000Grade: 17.9Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
valuable heavy minerals
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Mr José Antonio Zuazo Osinaga
Resource group id
resource:eef84abe09dde6f1afe8
Deposit or zone
Main Seam
Mining method
underground
Ownership percent
76 %

Resource Data

Category
inferred
Tonnes
49700000
Grade
17.9
Grade Unit
%
Cutoff Grade
4
Cutoff Unit
% TiO₂

Prior Estimate

Resource Date
2026-09-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Total resource (including significant Inferred) with a very high valuable heavy minerals grade, indicating significant overall mineral content.

Positive factors

  • jorc_compliant
  • qp_signed
  • maiden_resource

Negative factors

  • inferred_resource

Evidence · table

“17.9”

Context: 49.7

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

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

Metallurgical Results (5)

flotationOrión EU Critical Minerals Project · total rare earth oxidesRecovery: 63.6 %Head Grade: 0.75Head Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
total rare earth oxides
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Test Work

Program Status
scoping
Test Type
flotation
Processing Route
conventional gravity, magnetic, electrostatic and flotation separation
Sample
LOM ROM

Recovery

Recovery
63.6 %
Recovery Basis
actual_test
Head Grade
0.75
Head Grade Unit
%
Conc. Grade
22.6
Conc. Grade Unit
%

Lab

Laboratory
SGS Lakefield and Nagrom
Consultant
Wood and RIPE Minerals

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Good TREO head grade and recovery for a scoping study, contributing to the project's strong economics, but based on preliminary testwork.

Positive factors

  • mill_route
  • byproduct_commodity

Negative factors

  • bench_scale_only
  • single_domain_only

Evidence · table

“0.75”

Context: LOM ROM TREO grade %

Tags used in scoring

Mill Routeneutral

Processing via mill or concentrator (CIL, CIP, tank leach, flotation).

Why it applies: processing_route matches the flotation signal

Gravity Routeneutral

Gravity separation forms a material part of the flowsheet.

Why it applies: processing_route matches the gravity signal

Byproduct Commodityneutral

The tested commodity is a byproduct rather than the primary economic driver.

Why it applies: the release describes a byproduct credit

gravity separationOrión EU Critical Minerals Project · zirconium dioxideRecovery: 60.4 %Head Grade: 3.61Head Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
zirconium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Test Work

Program Status
scoping
Test Type
gravity separation
Processing Route
conventional gravity, magnetic, electrostatic and flotation separation
Sample
LOM ROM

Recovery

Recovery
60.4 %
Recovery Basis
actual_test
Head Grade
3.61
Head Grade Unit
%
Conc. Grade
64.1
Conc. Grade Unit
%

Lab

Laboratory
SGS Lakefield and Nagrom
Consultant
Wood and RIPE Minerals

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Good ZrO2 head grade and recovery for a scoping study, contributing to the project's strong economics, but based on preliminary testwork.

Positive factors

  • mill_route
  • byproduct_commodity

Negative factors

  • bench_scale_only
  • single_domain_only

Evidence · table

“3.61”

Context: LOM ROM ZrO2 grade %

Tags used in scoring

Mill Routeneutral

Processing via mill or concentrator (CIL, CIP, tank leach, flotation).

Why it applies: processing_route matches the flotation signal

Gravity Routeneutral

Gravity separation forms a material part of the flowsheet.

Why it applies: processing_route matches the gravity signal

Byproduct Commodityneutral

The tested commodity is a byproduct rather than the primary economic driver.

Why it applies: the release describes a byproduct credit

flotationOrión EU Critical Minerals Project · titanium dioxideRecovery: 36.1 %Head Grade: 10.74Head Grade Unit: %View all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
titanium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Test Work

Program Status
scoping
Test Type
flotation
Processing Route
conventional gravity, magnetic, electrostatic and flotation separation
Sample
LOM ROM

Recovery

Recovery
36.1 %
Recovery Basis
actual_test
Head Grade
10.74
Head Grade Unit
%
Conc. Grade
71.3
Conc. Grade Unit
%

Lab

Laboratory
SGS Lakefield and Nagrom
Consultant
Wood and RIPE Minerals

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Lower TiO2 recovery for a scoping study, but still contributes positively to project economics as a by-product, based on preliminary testwork.

Positive factors

  • mill_route
  • byproduct_commodity

Negative factors

  • low_recovery
  • bench_scale_only
  • single_domain_only

Evidence · table

“10.74”

Context: LOM ROM TiO2 grade %

Tags used in scoring

Mill Routeneutral

Processing via mill or concentrator (CIL, CIP, tank leach, flotation).

Why it applies: processing_route matches the flotation signal

Gravity Routeneutral

Gravity separation forms a material part of the flowsheet.

Why it applies: processing_route matches the gravity signal

Byproduct Commodityneutral

The tested commodity is a byproduct rather than the primary economic driver.

Why it applies: the release describes a byproduct credit

regrindOrión EU Critical Minerals Project · titanium dioxideView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
titanium dioxide
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Test Work

Program Status
scoping
Test Type
regrind
Processing Route
conventional gravity, magnetic, electrostatic and flotation separation
Sample
Ti WHIMS magnetics regrind
Grind P80
38 µm

Lab

Laboratory
SGS Lakefield and Nagrom
Consultant
Wood and RIPE Minerals

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Grind size for regrind is specified, but based on preliminary data and requires further optimization.

Negative factors

  • bench_scale_only
  • single_domain_only

Evidence · text

“For conservatism, a feed F80 of 106 μm was used for sizing the mill, along with a work index of 18 kWh/t in lieu of actual signature grinding data.”

Tags used in scoring

Mill Routeneutral

Processing via mill or concentrator (CIL, CIP, tank leach, flotation).

Why it applies: processing_route matches the flotation signal

Gravity Routeneutral

Gravity separation forms a material part of the flowsheet.

Why it applies: processing_route matches the gravity signal

Byproduct Commodityneutral

The tested commodity is a byproduct rather than the primary economic driver.

Why it applies: the release describes a byproduct credit

regrindOrión EU Critical Minerals Project · monaziteView all details
Link to this fact

Identity

Project
Orión EU Critical Minerals Project
Commodity
monazite
Region
spain
Reported Region
Jaén Province, Andalucía, Southern Spain
Ticker
OSM

Test Work

Program Status
scoping
Test Type
regrind
Processing Route
conventional gravity, magnetic, electrostatic and flotation separation
Sample
gravity tails regrind
Grind P80
38 µm

Lab

Laboratory
SGS Lakefield and Nagrom
Consultant
Wood and RIPE Minerals

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-01T00:00:00.000Z

Reasoning: Grind size for regrind is specified, but based on preliminary data and requires further optimization.

Negative factors

  • bench_scale_only
  • single_domain_only

Evidence · text

“For the purposes of the current design, a feed F80 of 106 μm and a product P80 of 38 μm have been adopted.”

Tags used in scoring

Mill Routeneutral

Processing via mill or concentrator (CIL, CIP, tank leach, flotation).

Why it applies: processing_route matches the flotation signal

Gravity Routeneutral

Gravity separation forms a material part of the flowsheet.

Why it applies: processing_route matches the gravity signal

Byproduct Commodityneutral

The tested commodity is a byproduct rather than the primary economic driver.

Why it applies: the release describes a byproduct credit

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.