# Aclara Announces Results from Technical Reports on Its Integrated Heavy Rare Earths Supply Chain Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856 Original source: https://money.tmx.com/en/quote/ARA/news/6272116444141559/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear Publisher: tmx Original announcement: 2026-04-13T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Aclara Resources Inc. - Ticker: ARA - Exchange: TSX - Region: Unavailable - Primary commodity: Rare earths - Secondary commodities: Dysprosium, Terbium, Neodymium, Praseodymium, Yttrium, Gadolinium, Samarium, Lutetium, Europium, Ytterbium, Holmium, Erbium, Thulium, Iron ore - Document categories: Resource update, Metallurgy - Extracted: 2026-09-15 10:48:53 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Aclara Resources announced positive results from technical reports covering its integrated heavy rare earths supply chain, from mining to alloys. The Carina Project Feasibility Study, Project Dynamo Scoping Study, and Metals and Alloys FEL 2 Technical Report all demonstrate strong economics and robust production plans for critical rare earth elements. Additionally, the Penco Module in Chile shows significant Measured and Indicated mineral resources, further supporting the company's long-term supply strategy. Reasoning: The announcement details positive results from multiple technical reports across an integrated heavy rare earths supply chain, demonstrating strong economics, advanced technical progress, and robust resources, significantly de-risking the company's strategy for critical rare earth elements. - Positive factor: strong\_economics - Positive factor: vertically\_integrated\_supply\_chain - Positive factor: high\_purity\_product - Positive factor: proprietary\_technology - Positive factor: pilot\_scale\_complete - Positive factor: significant\_contained\_metal - Positive factor: high\_measured\_indicated\_percentage - Positive factor: ni\_43\_101\_compliant - Positive factor: strategic\_partnership - Positive factor: heavy\_rare\_earth\_focus - Negative factor: phase\_development\_for\_some\_elements - Negative factor: penco\_module\_not\_yet\_integrated\_into\_us\_hub - Negative factor: scoping\_study\_and\_fel2\_lower\_confidence\_than\_fs Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 27 ## Classification and evidence **Vertically Integrated Supply Chain** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Aclara is pursuing an integrated heavy rare earths supply chain, spanning from mining operations to the production of permanent magnet alloys \('mine-to-alloys' strategy\). Evidence · text > integrated heavy rare earths supply chain, spanning from mining operations to the production of permanent magnet alloys \("mine-to-alloys" strategy\) **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Carina Project Feasibility Study is prepared in accordance with National Instrument 43-101. Evidence · text > Feasibility Study for the Company's flagship asset, the Carina Project prepared in accordance with National Instrument 43-101 **QP/CP Signed** Polarity: positive Definition: 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 Carina Project Feasibility Study was led by Hatch Consultoria em Projectos Ltda., implying QP sign-off for NI 43-101 compliance. Evidence · text > Feasibility Study led by Hatch Consultoria em Projectos Ltda. \("Hatch"\) **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: Extensive pilot plant operations were conducted for Carina, and a pilot plant is active at Virginia Tech for Project Dynamo. Evidence · text > Extensive pilot plant operations conducted in Goiânia throughout 2025 **Proprietary Technology** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Aclara uses its proprietary Circular Mineral Harvesting process and has proprietary SX technology. Evidence · text > Aclara's proprietary Circular Mineral Harvesting process **Strategic Partnership** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company is backed by leading industrial shareholders such as Hochschild Mining PLC and CAP S.A., and supported by strategic institutions like the U.S. International Development Finance Corporation. Evidence · text > Backed by leading industrial shareholders such as the Hochschild Mining PLC \("Hochschild"\) and CAP S.A. \("CAP"\), and supported by strategic institutions such as the U.S. International Development Finance Corporation **Heavy Rare Earth Focus** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company focuses on heavy rare earth elements, particularly those restricted under China's export controls, addressing a critical supply chain need. Evidence · text > very high concentrations of heavy rare earth elements \("HREEs"\), particularly those restricted under China's export controls **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The Penco Module is characterized by a high proportion of Measured and Indicated mineral resources \(~94%\). Evidence · text > high proportion of Measured and Indicated \("M&I"\) mineral resources \(~94%\) **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The Penco Module is characterized by a high proportion of Measured and Indicated mineral resources \(~94%\). Evidence · text > high proportion of Measured and Indicated \("M&I"\) mineral resources \(~94%\) ## Extracted facts Stored fact records: 27. Some facts used in scoring do not have a stored record. ## Resource Estimates (24) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-0) Penco Module · dysprosium #### Identity - Project: Penco Module - Commodity: dysprosium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 67 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 67 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-1) Penco Module · terbium #### Identity - Project: Penco Module - Commodity: terbium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 10 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 10 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-2) Penco Module · neodymium #### Identity - Project: Penco Module - Commodity: neodymium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 348 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 348 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-3) Penco Module · praseodymium #### Identity - Project: Penco Module - Commodity: praseodymium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 93 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 93 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-4) Penco Module · yttrium #### Identity - Project: Penco Module - Commodity: yttrium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 417 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 417 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-5) Penco Module · gadolinium #### Identity - Project: Penco Module - Commodity: gadolinium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 56 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 56 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-6) Penco Module · samarium #### Identity - Project: Penco Module - Commodity: samarium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 57 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 57 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-7) Penco Module · rare\_earths #### Identity - Project: Penco Module - Commodity: rare\_earths - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 1227 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 1,227 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-8) Penco Module · dysprosium #### Identity - Project: Penco Module - Commodity: dysprosium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 27 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 27 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-9) Penco Module · terbium #### Identity - Project: Penco Module - Commodity: terbium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 4 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 4 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-10) Penco Module · neodymium #### Identity - Project: Penco Module - Commodity: neodymium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 61 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 61 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-11) Penco Module · praseodymium #### Identity - Project: Penco Module - Commodity: praseodymium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 15 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 15 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-12) Penco Module · yttrium #### Identity - Project: Penco Module - Commodity: yttrium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 245 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 245 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-13) Penco Module · gadolinium Historical result Needs review: historical\_restatement #### Identity - Project: Penco Module - Commodity: gadolinium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 18 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 18 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-14) Penco Module · samarium #### Identity - Project: Penco Module - Commodity: samarium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 11 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 11 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-15) Penco Module · rare\_earths #### Identity - Project: Penco Module - Commodity: rare\_earths - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Grade: 111 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 111 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-16) Penco Module · dysprosium #### Identity - Project: Penco Module - Commodity: dysprosium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Contained Metal: 739 - Contained Unit: t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: significant\_contained\_metal - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 739 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-17) Penco Module · terbium #### Identity - Project: Penco Module - Commodity: terbium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Contained Metal: 100 - Contained Unit: t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: significant\_contained\_metal - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 100 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-18) Penco Module · neodymium #### Identity - Project: Penco Module - Commodity: neodymium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Contained Metal: 1673 - Contained Unit: t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: significant\_contained\_metal - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 1,673 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-19) Penco Module · praseodymium #### Identity - Project: Penco Module - Commodity: praseodymium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Contained Metal: 403 - Contained Unit: t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: significant\_contained\_metal - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 403 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-20) Penco Module · yttrium #### Identity - Project: Penco Module - Commodity: yttrium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Contained Metal: 6721 - Contained Unit: t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: significant\_contained\_metal - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 6,721 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-21) Penco Module · gadolinium #### Identity - Project: Penco Module - Commodity: gadolinium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Contained Metal: 495 - Contained Unit: t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: significant\_contained\_metal - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 495 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-22) Penco Module · samarium #### Identity - Project: Penco Module - Commodity: samarium - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Contained Metal: 310 - Contained Unit: t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: significant\_contained\_metal - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 310 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-resource-facts-23) Penco Module · rare\_earths #### Identity - Project: Penco Module - Commodity: rare\_earths - Region: chile - Reported Region: Biobío Region of Chile - Ticker: ARA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Resource group id: resource:0265d18f2e989105928f #### Resource Data - Category: indicated - Tonnes: 27500000 - Contained Metal: 3046 - Contained Unit: t #### Prior Estimate - Resource Date: 2026-03-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Penco Module resource demonstrates a high proportion of Measured and Indicated resources for critical heavy rare earth elements, providing a robust foundation for the integrated supply chain. - Positive factor: high\_measured\_indicated\_percentage - Positive factor: significant\_contained\_metal - Positive factor: focus\_on\_heavy\_rare\_earths - Positive factor: ni\_43\_101\_compliant Evidence · table > 3,046 Context: 27.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## Metallurgical Results (3) ### pilot plant [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-metallurgical-facts-24) Carina Project · rare\_earths #### Identity - Project: Carina Project - Commodity: rare\_earths - Region: brazil - Reported Region: Goiás, Brazil - Ticker: ARA #### Test Work - Program Status: detailed - Test Type: pilot plant - Processing Route: ion-exchange \(Circular Mineral Harvesting\) #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Carina Project utilizes a proprietary ion-exchange process validated through extensive pilot plant operations, demonstrating a low-impact and efficient extraction method for rare earths. - Positive factor: proprietary\_technology - Positive factor: pilot\_scale\_complete - Positive factor: environmentally\_friendly\_process Evidence · text > Circular Mineral Harvesting process, an ion-exchange technology that uses a recyclable ammonium-based solution to selectively extract rare earths. Extensive pilot plant operations conducted in Goiânia throughout 2025. #### Tags used in scoring **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work ### pilot plant [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-metallurgical-facts-25) Project Dynamo · rare\_earths #### Identity - Project: Project Dynamo - Commodity: rare\_earths - Region: usa - Reported Region: Louisiana, U.S.A. - Ticker: ARA #### Test Work - Program Status: detailed - Test Type: pilot plant - Processing Route: solvent extraction \(SX\) #### Lab - Laboratory: Virginia Tech - Consultant: L3 Process Development #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: Project Dynamo's solvent extraction process is being validated at a pilot plant at Virginia Tech, providing critical data for engineering design and scale-up of individual rare earth oxide production. - Positive factor: pilot\_scale\_complete - Positive factor: proprietary\_technology - Positive factor: supports\_engineering\_design Evidence · text > process is based on solvent extraction \("SX"\), utilizing multiple extraction, scrubbing, and stripping circuits to produce high-purity individual oxides. Aclara's pilot plant at Virginia Tech, with results supporting engineering design and scale-up. #### Tags used in scoring **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work ### demonstration plant [Link to this fact](https://atlas-extractions.minestarters.com/news/aclara-announces-results-from-technical-reports-on-its-integrated-heavy-rare-ear--eea4f920-d7f2-4675-99d3-3ba1a88d9856#fact-metallurgical-facts-26) Metals and Alloys · rare\_earths #### Identity - Project: Metals and Alloys - Commodity: rare\_earths - Region: usa - Reported Region: Louisiana, U.S.A. - Ticker: ARA #### Test Work - Program Status: detailed - Test Type: demonstration plant - Processing Route: fluorination, molten salt electrolysis, vacuum induction melting, strip casting #### Lab - Consultant: Huachipato \("HTO"\) #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-13T00:00:00.000Z Reasoning: The Metals and Alloys project is advancing a demonstration plant for its integrated fluorination, electrolysis, VIM, and strip casting processes to produce rare earth metals and alloys, reducing scale-up risk. - Positive factor: demonstration\_plant\_progress - Positive factor: proprietary\_technology - Positive factor: integrated\_process Evidence · text > fluorination to produce NdPr, Dy, and Tb fluorides; molten salt electrolysis \("electrolysis"\) for NdPr and FeDy metal production; vacuum induction melting \("VIM"\) to produce Tb metal; and strip casting to produce NdFeB alloys. Aclara is advancing a demonstration plant to produce rare earth metals and alloys using electrolysis technology #### Tags used in scoring **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work ## 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.