# Resouro Strategic Metals Inc. \(RSGOF\) PEA milestone for Tiros Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/resouro-strategic-metals-inc-rsgof-pea-milestone-for-tiros-project--f50e510d-bcc3-4689-9b49-b0729b1c4675 Original source: https://money.tmx.com/en/quote/RSM/news/5479877972402057/resouro-strategic-metals-inc-rsgof-pea-milestone-for-tiros-project Publisher: tmx Original announcement: 2026-06-15T00:32:00.000Z 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: Economic study, Resource update - Extracted: 2026-09-18 18:32:01 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Resouro Strategic Metals Inc. has completed a Preliminary Economic Assessment \(PEA\) for its Tiros Project in Brazil, projecting an after-tax NPV of US$714.9 million and an IRR of 44.2%. The starter operation targets a high-grade 9.5Mt ROM feed with 26.3% TiO2 and 10,832 ppm TREO using an open-pit mining method. Reasoning: The completion of a PEA for the Tiros project demonstrates robust economics with high IRR and NPV, though it relies on Inferred resources for the starter operation. - Positive factor: Strong NPV of US$714.9 million - Positive factor: High IRR of 44.2% - Positive factor: High-grade starter operation \(26.3% TiO2\) - Positive factor: Large existing M&I resource base \(1.4 billion tonnes\) - Positive factor: Favourable jurisdiction \(Minas Gerais, Brazil\) - Negative factor: Economics based on Inferred resources - Negative factor: Titanium recovery is relatively low at 68.7% - Negative factor: Rare earth recovery is 67% Facts used in scoring: 4 ## Classification and evidence **PEA Only** Polarity: neutral Definition: Only Class 4 / Initial Assessment economics available. Not bankable. Why it applies: The document explicitly states it is a Preliminary Economic Assessment and not a feasibility study. Evidence · text > The PEA is preliminary in nature. **Inferred Heavy Feed** Polarity: negative Definition: Material Inferred share of LOM mill feed, or the share is undisclosed. Why it applies: The starter operation contemplates processing high-grade material that is part of the broader resource, but the PEA includes Inferred Mineral Resources. Evidence · text > It includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them **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 exceptional tier. Evidence · text > after-tax internal rate of return \(IRR\) of 44.2% **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The PEA was prepared according to NI 43-101 standards. Evidence · text > prepared by a team led by Norda Stelo according to National Instrument 43-101 Standards ## 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-strategic-metals-inc-rsgof-pea-milestone-for-tiros-project--f50e510d-bcc3-4689-9b49-b0729b1c4675#fact-resource-facts-2) Tiros · titanium #### Identity - Project: Tiros - Commodity: titanium - Region: brazil - Reported Region: Minas Gerais, Brazil - Ticker: RSM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:11b215dd75763d9833dd - Deposit or zone: Tiros - Mining method: open\_pit - Material type: null - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1400000000 - Grade: 12 - Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-15T00:00:00.000Z Reasoning: Existing large M&I resource mentioned as context. - Positive factor: Large scale resource Evidence · text > 1.4 billion tonne Measured and Indicated Resource - Significant expansion potential supported by a very large titanium and rare earth mineral resource #### 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 **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 **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **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 **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-strategic-metals-inc-rsgof-pea-milestone-for-tiros-project--f50e510d-bcc3-4689-9b49-b0729b1c4675#fact-resource-facts-3) Tiros · rare\_earths #### Identity - Project: Tiros - Commodity: rare\_earths - Region: brazil - Reported Region: Minas Gerais, Brazil - Ticker: RSM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:449582874f407e9886fd - Deposit or zone: Tiros - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1400000000 - Grade: 4000 - Grade Unit: ppm #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-15T00:00:00.000Z Reasoning: Existing large M&I resource mentioned as context. Evidence · text > 1.4 billion tonne Measured and Indicated Resource ... and 4,000 ppm of total rare earth oxides #### 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 **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 **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **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 **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.