Brazilian Rare Earths June 2026 Quarterly Report
Rhea-AI Summary
Brazilian Rare Earths (ASX: BRE, OTCQX: BRELY) reported strong June 2026 quarter progress, led by exploration at the Monte Alto District and the Velhinhas project, and shareholder approval of the Amargosa bauxite-gallium demerger via the Alurion Resources IPO.
High-resolution airborne geophysics at Velhinhas defined more than 9 km of cumulative exploration corridors south of the ultra-high-grade Monte Alto Deposit, confirming four north-northeast mineralised trends. Reconnaissance diamond drilling returned up to 19.6% TREO with high NdPr, DyTb, yttrium, niobium, scandium, tantalum and uranium grades, consistent with BRE’s existing REE-Nb-Sc-Ta-U systems.
At Monte Alto, drill hole MADD0210 intersected 2.5 m at 7.5% TREO from 6 m, including 1.3 m at 10.9% TREO, with 58,249 ppm (5.8%) Y2O3. An auger hole 200 m away returned 12 m at 8.7% TREO, and yttrium comprised ~48–53% of TREO in significant bedrock intervals. BRE has unified these assets into a single Monte Alto District framework.
Shareholders approved the Amargosa demerger with 99.94% of votes in favour. Alurion Resources’ IPO is set to raise A$50 million via 47,619,048 shares at A$1.05, implying an undiluted equity value of ~A$256 million. BRE will retain ~16% of Alurion, valued at ~A$41 million at the offer price, with Alurion’s ASX listing expected on 30 July 2026, subject to approval.
Positive
- Velhinhas geophysics outlines 9+ km corridor south of Monte Alto
- Reconnaissance drilling up to 19.6% TREO with high NdPr and DyTb
- Monte Alto drill hole 1.3 m at 10.9% TREO from 7.2 m
- Auger hole 12 m at 8.7% TREO open at depth
- Yttrium 48–53% of TREO in significant bedrock intervals
- Amargosa demerger backed by 99.94% vote at 10 July 2026 meeting
- Alurion IPO to raise A$50 million at A$1.05 per share
- BRE retains ~16% Alurion stake valued at ~A$41 million
Negative
- None.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 11 | Exploration results | Positive | -27.0% | Velhinhas corridors and high-grade drilling results were reported. |
| May 18 | Project demerger | Positive | +0.1% | Amargosa was planned for demerger into Alurion with a proposed IPO. |
| Apr 27 | Quarterly activities | Positive | -2.0% | Monte Alto drilling and metallurgical results were reported alongside development milestones. |
| Mar 25 | Mining licence | Positive | +6.1% | ANM granted a trial mining licence for Monte Alto operations. |
| Feb 18 | Exploration results | Positive | +4.6% | Monte Alto drilling expanded with ultra-high-grade rare earth discoveries. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive company announcements produced mixed price responses, including a sharp negative reaction to the prior Velhinhas update.
Key Terms
dy₂o₃ technical
y₂o₃ technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
SYDNEY, July 23, 2026 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) ('BRE') is pleased to report progress during the quarter ended 30 June 2026. Highlights during and subsequent to the end of the quarter include:
VELHINHAS AIRBORNE GEOPHYSICS AND DRILLING UNLOCKS +9 KM RARE EARTH CORRIDOR IN THE MONTE ALTO DISTRICT
- New District-Scale Growth Corridor: High-resolution airborne geophysics defined more than 9 km of cumulative exploration corridors across the Velhinhas project, beginning ~5 km south of the ultra-high-grade Monte Alto Deposit and extending rare earth mineralisation to over 8 km south of Monte Alto
- Multiple Parallel Exploration Trends: The survey confirmed four large-scale north-northeast trending mineralised corridors, converting numerous ultra-high-grade surface results into a district-scale exploration model analogous with the Sulista district opportunity
- Drilling Results Confirm High-Grade Mineralisation: Reconnaissance diamond drilling returned grades of
19.6% TREO, 33,607 ppm NdPr, 1,463 ppm Dy₂O₃, 248 ppm Tb₄O₇, 7,431 ppm Y₂O₃ and 1,087 ppm U₃O₈ - Critical Mineral Grades: High-grade assays are accompanied by NdPr, DyTb, yttrium, niobium, scandium, tantalum and uranium, consistent with BRE’s high-value REE-Nb-Sc-Ta-U systems at Monte Alto and Sulista
- Monte Alto District Growth Accelerates: Velhinhas expands the Monte Alto growth story, highlighting the potential for a district-scale mineral system extending south from the ultra-high-grade Monte Alto Deposit
EXCEPTIONAL YTTRIUM-RICH HEAVY RARE EARTH DRILL RESULTS EXPAND THE MONTE ALTO DISTRICT
- Exceptional heavy rare earth grades: MADD0210 returned 2.5 m at
7.5% TREO from 6.0 m, including 1.3 m at10.9% TREO from 7.2 m, with 58,249 ppm (5.8% ) Y2O3, 4,135 ppm Dy2O3, 488 ppm Tb4O7 and 1,588 ppm U3O8 - New high-grade, heavy rare earth target remains open: Auger hole STU2478, located ~200 m southwest of the initial diamond drilling, returned 12 m at
8.7% TREO from 18 m to end of hole, including 1,004 ppm DyTb and0.44% Y2O3. The interval remains open at depth - Yttrium is a defining component, not a minor co-product: Yttrium represents over
50% of TREO in the peak interval - equivalent to approximately 58 kg of Y2O3 per tonne of sampled mineralised rock. Across every significant bedrock interval reported, yttrium represents approximately 48-53% of TREO - Exceptional grades confirmed in bedrock: Four of the first six diamond holes returned heavy rare earth mineralisation, materially strengthening the 2024 surface discovery that returned
14.6% TREO, including7.45% Y2O3 and 6,428 ppm DyTb1 - Monte Alto District formally adopted: BRE will now report the flagship Monte Alto Deposit, the Monte Alto HREE+Y Discovery, the Velhinhas Corridor and associated regional exploration corridors within one unified Monte Alto District exploration and development framework
SHAREHOLDERS APPROVE ALURION RESOURCES DEMERGER AND BACK A
- Shareholders approve Amargosa demerger:
99.94% of votes were cast in favour of the demerger resolution at the General Meeting held on 10 July 2026 - IPO to raise A
$50 million : Alurion accepted applications for 47,619,048 new fully paid ordinary shares at A$1.05 per share; with demand exceeding the Maximum Subscription and implying an undiluted equity value of approximately A$256 million at the Offer Price - BRE retains strategic exposure: BRE retains ~
16% of Alurion's issued ordinary capital immediately after the IPO on an undiluted basis, valued at approximately A$41 million based on the Offer Price - Dedicated board and leadership team appointed with the technical and commercial skillset to drive Amargosa’s next development phase
- Expected ASX listing: Alurion Resources Limited (ASX: ALU) is expected to be admitted on 30 July 2026 with normal settlement trading expected to commence on 3 August 2026, subject to ASX approval and satisfaction of admission conditions
A link to the full announcement can be found here.
Contacts
Bernardo Da Veiga
Managing Director and CEO
investors@brazilianrareearths.com
www.brazilianrareearths.com
1 Refer ASX Announcement dated 23 October 2024 for details of previously announced exploration results (Original ASX Announcements). BRE is not aware of any new information or data that materially affects the information included in the Original ASX Announcements
