PVW Resources to Acquire High Potential REE Projects in Brazil

THE BOURSE WHISPERER: PVW Resources (ASX: PVW) has entered into a binding agreement to acquire a major portfolio of highly prospective ionic clay Rare Earth Element (REE) projects in Brazil.

PVW Resources signed the agreement to acquire Brazil-registered Scanty Mineracao Ltda, aka Scanty, the holder of what the company considers being a strategically important and highly prospective portfolio of REE projects across four different areas in Brazil.

The company was assisted in the identification and selection of the portfolio of 11 projects by independent Brazilian geological consultants.

PVW believes the package presents the opportunity for new ionic clay REE discoveries in underexplored areas.

“The PVW Board see these projects as an exceptional opportunity to grow our presence in the rapidly evolving critical minerals landscape globally,” PVW Resources non-executive chairman George Bauk said in the company’s ASX announcement.

“The acquisition of strategically located rare earth element projects in Brazil allows us to gain a foothold in a highly prospective and stable region which has recently established itself at the forefront of the rare earth industry globally.

“We are delighted in the appointment of Mr Luis Azevedo as a Non-Executive Director, a major shareholder of Scanty following the completion of the transaction.

“Mr Azevedo is an experienced Brazilian mining and legal professional who began his career with WMC Resources, a company I also worked for over a decade.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE