Latest news with #PerpetualResources
The Australian
05-08-2025
- Business
- The Australian
Investors snap up PEC's $1.6m placement
Perpetual Resources raises $1.6m in oversubscribed placement at premium to 15-day VWAP Proceeds will be used to carry out follow-up exploration at its Igrejinha lithium project Funds will also be used for drilling to support maiden JORC resource estimate at Raptor REE project Special Report: Investors have demonstrated their confidence in Perpetual Resources by firmly backing a $1.6m placement to accelerate exploration for lithium and caesium in Brazil. Such was the strong demand from sophisticated and institutional investors for the placement of 72.7m shares at 2.2c each that allocations were scaled-back. The price was a 10% premium to the 15-day volume weighted average price of 2c with Perpetual Resources (ASX:PEC) to issue one free attaching option exercisable at 3c and expiring on December 31, 2027, for every two shares subscribed for. Investor interest follows the company's recent update on maiden drilling at Igrejinha, which intersected a continuous lithium-caesium-tantalum pegmatite that stretches over 200m of strike and >50m depth that's open in all directions. Drilling below historical workings also confirmed the presence of spodumene and potential high-value pollucite – a caesium mineral – while drilling below high-grade rock chip samples that returned peak results of >5.3% Cs2O and 7.6% Li2O also intersected pegmatite. 'This capital raise was strongly supported by new and existing investors, reflecting growing confidence in our Brazilian exploration portfolio,' PEC executive chairman Julian Babarczy said. 'With early success already achieved at Igrejinha, including high-grade spodumene and pollucite, as well as advancement at our Raptor rare earth project, we are well positioned to escalate exploration across multiple high-impact project areas.' Listen to more from PEC: Perpetual pounces for counter-cyclical payoff Use of funds PEC will use the funds for ongoing exploration in Brazil. This includes follow-up exploration at the Igrejinha project, drilling at the Raptor REE project, and initial exploration across the company's broader portfolio of Lithium Valley assets in Minas Gerais. Planned deeper drilling at Raptor will assess mineralisation at depth and test its full extent in order to support a maiden JORC resource. 'These funds ensure that Perpetual can maintain momentum and unlock further value for shareholders as we progress toward our next major drilling milestones,' Babarczy added. This article was developed in collaboration with Perpetual Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The Australian
04-08-2025
- Business
- The Australian
PEC to drill-test Raptor REE
Perpetual plans deeper drilling across Raptor prospects to support maiden JORC resource estimate Program will follow-up on auger drilling that returned high-grades of magnet REE-rich mineralisation Company will also advance detailed metallurgical testwork and mineralogical characterisation Special Report: Perpetual Resources is finalising plans for the next phase of drilling targeting depth extensions at the Portão Verde, Pina Colada and Pinheirinho prospects of its Raptor rare earths project in Brazil. This program will be designed to fully assess broader project-scale potential to support a maiden JORC resource estimate. Perpetual Resources (ASX:PEC) intends for the follow-up aircore holes to be drilled to depths of 30-40m to follow previous shallow auger holes demonstrating that mineralisation is open at depth. This program will assess mineralisation at depth and test its full extent across the project to understand the volume potential. Notable previous assays from the earlier drilling, which was limited by handheld auger capacity, include: 5m grading 5591ppm total rare earth oxides (35% neodymium and praseodymium) ending in 5533ppm TREO; and 12m at 4601ppm TREO (23% NdPr) ending in 2914ppm TREO. Metallurgical testing by ANSTO has also recovered up to 94% for key magnet REEs. Highlights from metallurgical testwork following maiden drilling. Pic: Perpetual Resources Raptor project The Raptor project sits within the world-class Caldeira Alkaline Complex in Minas Gerais, a region that is rapidly emerging as a globally significant hub for ionic adsorption clay-hosted REEs. It is close to Meteoric Resources' (ASX:MEI) Caldeira project, which has a resource of 1.5Bt at 2359ppm TREO and Viridis Mining and Minerals' (ASX: VMM) Colossus project. Both projects have recently attracted substantial government grant funding and institutional equity support – underscoring growing national and global interest in the district's critical minerals potential. PEC's upcoming drill program will investigate new high-priority targets across the broader project area. The company will also advance detailed metallurgical test work and mineralogical characterisation to support future development studies and underpin Raptor's positioning as a potential long-term supplier of critical rare earths. This article was developed in collaboration with Perpetual Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Herald Sun
31-07-2025
- Business
- Herald Sun
PEC to drill-test Raptor REE
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Perpetual plans deeper drilling across Raptor prospects to support maiden JORC resource estimate Program will follow-up on auger drilling that returned high-grades of magnet REE-rich mineralisation Company will also advance detailed metallurgical testwork and mineralogical characterisation Special Report: Perpetual Resources is finalising plans for the next phase of drilling targeting depth extensions at the Portão Verde, Pina Colada and Pinheirinho prospects of its Raptor rare earths project in Brazil. This program will be designed to fully assess broader project-scale potential to support a maiden JORC resource estimate. Perpetual Resources (ASX:PEC) intends for the follow-up aircore holes to be drilled to depths of 30-40m to follow previous shallow auger holes demonstrating that mineralisation is open at depth. This program will assess mineralisation at depth and test its full extent across the project to understand the volume potential. Notable previous assays from the earlier drilling, which was limited by handheld auger capacity, include: 5m grading 5591ppm total rare earth oxides (35% neodymium and praseodymium) ending in 5533ppm TREO; and 12m at 4601ppm TREO (23% NdPr) ending in 2914ppm TREO. Metallurgical testing by ANSTO has also recovered up to 94% for key magnet REEs. Highlights from metallurgical testwork following maiden drilling. Pic: Perpetual Resources Raptor project The Raptor project sits within the world-class Caldeira Alkaline Complex in Minas Gerais, a region that is rapidly emerging as a globally significant hub for ionic adsorption clay-hosted REEs. It is close to Meteoric Resources' (ASX:MEI) Caldeira project, which has a resource of 1.5Bt at 2359ppm TREO and Viridis Mining and Minerals' (ASX: VMM) Colossus project. Both projects have recently attracted substantial government grant funding and institutional equity support – underscoring growing national and global interest in the district's critical minerals potential. PEC's upcoming drill program will investigate new high-priority targets across the broader project area. The company will also advance detailed metallurgical test work and mineralogical characterisation to support future development studies and underpin Raptor's positioning as a potential long-term supplier of critical rare earths. This article was developed in collaboration with Perpetual Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as Perpetual Resources gears up for REE resource drilling at Raptor
