# Resouro Files Technical Report for Tiros Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/resouro-files-technical-report-for-tiros-project--d78e9775-f5ac-429c-b193-dc3ed3d69abc Original source: https://money.tmx.com/en/quote/RSM/news/8513882132604159/resouro-files-technical-report-for-tiros-project Publisher: tmx Original announcement: 2026-07-30T02:03:58.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Resouro Strategic Metals Inc. - Ticker: RSM - Exchange: TSX - Region: Minas Gerais, Brazil - Primary commodity: Titanium - Secondary commodities: Rare earths - Document categories: Resource update, Economic study - Extracted: 2026-09-18 18:34:01 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Resouro Strategic Metals Inc. has filed a NI 43-101 Technical Report and PEA for the Tiros Project in Brazil. The study supports a staged development strategy starting with a high-grade 500,000 tpa operation, projecting an after-tax NPV of US$714.9 million and an IRR of 44.2%. Reasoning: The document files a NI 43-101 Technical Report supporting a previously announced PEA. While the economics are strong, the report is a formalization of a preliminary study and notes high reagent cost sensitivity. - Positive factor: Strong project economics \(44.2% IRR\) - Positive factor: Staged development strategy reduces upfront capital - Positive factor: High-grade starter operation targets <1% of M&I resource - Positive factor: Established mining jurisdiction - Negative factor: PEA is preliminary and conceptual - Negative factor: High sensitivity to reagent costs \(86% of OPEX\) - Negative factor: Inferred resources used in production target Facts used in scoring: 3 ## Classification and evidence **PEA Only** Polarity: neutral Definition: Only Class 4 / Initial Assessment economics available. Not bankable. Why it applies: The report is a Preliminary Economic Assessment \(PEA\) and is explicitly described as preliminary in nature. Evidence · text > The PEA is preliminary in nature. **High IRR** Polarity: positive Definition: Post-tax real unlevered IRR in the strong tier or better. Why it applies: The reported after-tax IRR of 44.2% is in the strong tier. Evidence · text > after-tax internal rate of return of 44.2% **Fast Payback** Polarity: positive Definition: Payback in the strong tier or better, on the required basis. Why it applies: The payback period of 1.9 years is in the strong tier. Evidence · text > after-tax payback period of 1.9 years **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides a detailed Mineral Resource Estimate table. Evidence · text > Appendix A – Mineral Resource Estimate ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/resouro-files-technical-report-for-tiros-project--d78e9775-f5ac-429c-b193-dc3ed3d69abc#fact-resource-facts-1) Tiros · titanium #### Identity - Project: Tiros - Commodity: titanium - Region: brazil - Reported Region: Minas Gerais, Brazil - Ticker: RSM #### Resource scope - Estimate type: resource - Effective date: 2026-07-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Simon Mortimer - Resource group id: resource:42ae322a9184d151f467 - Deposit or zone: Tiros - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1000000000 - Grade: 12 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-30T00:00:00.000Z Reasoning: Indicated resource component of the total M&I. Evidence · table > 12 Context: 1,000 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/resouro-files-technical-report-for-tiros-project--d78e9775-f5ac-429c-b193-dc3ed3d69abc#fact-resource-facts-2) Tiros · rare\_earths #### Identity - Project: Tiros - Commodity: rare\_earths - Region: brazil - Reported Region: Minas Gerais, Brazil - Ticker: RSM #### Resource scope - Estimate type: resource - Effective date: 2026-07-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Simon Mortimer - Resource group id: resource:42ae322a9184d151f467 - Deposit or zone: Tiros - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1000000000 - Grade: 4000 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-07-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-30T00:00:00.000Z Reasoning: Indicated resource component of the total M&I. Evidence · table > 4,000 Context: 1,000 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 ## 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.