Sorry if I'm writing in the wrong forum, it's not an IPO, it's a secondary listing (even a third one)The company has said it wants to come to the ASX by the end of this year or early next.
Resouro (TSXV: RSM | FSE: BU9)
Resouro is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Project in Minas Gerais and the Novo Mundo Gold Project in Mato Grosso.
The Tiros Project Located in Northern Minas Gerais in Brazil, the Tiros Project is potentially one of the world’s largest and highest grade undeveloped titanium deposits, with associated heavy rare earths identified in historic drilling. The Tiros Project represents 25 mineral concessions totalling 477km2 located in Minas Gerais, one of the most infrastructurally developed states of Brazil, 350 km from Belo Horizonte, the state capital. The Tiros licenses cover the most prospective portion of the prolific Capacete Formation and the areas with the greatest exploration potential.
This is a project at the initial stage of exploration of rare earth elements and titanium, located in ionic clayIt seems to me that this is a very promising project, with the RE content higher or the same as that of Meteoric (MEI)
Based on the inhouse verification of historic information the average grade was 3,930ppm TREO and 12.44% TiO2Resouro’s initial Resource Target, based on resampling the data from 21 RC Aircore Holes and the previous Resource Calculation submitted to the Brazilian ANM (Mines Department), is 600 million tonnes at over 3,000 ppm TREO and 12% TiO2ICP analysis for Rare Earths Elements showed an average NdPr oxide grade of 800ppm for the 258 samples.
Key highlights of the test-work include: over 41% recovery of Neodymium (Nd); over 60% recovery of Dysprosium (Dy); over 31% recovery of Praseodymium (Pr). These results were from a 207kg composite sample made up from 242 samples from 19 historic drill holes, which included multiple samples from a variety of different zones across the Tiros Project. These results were from material passing 600 mesh, leached at 80 degrees Celsius using a 40ml of 0.5 mole Ammonium Sulphate (NH4)2SO4 with pH starting at 3.5 and finishing at 4.5, with an average pH of 4.
It seems to me that the project can be very interesting and promising for a rare earth project in ionic clay. I have watched more than ten different REE projects both in clay and in ore (MEI,VMM,ALV,IXR,OD6,HRE,WC1,AR3,VTM,GRL,Aclara...), and the project of this company seemed very interesting to me.If you have the opportunity and desire, I will ask you to comment on this project. @setfire2thehive
