Shares of Aclara Resources Inc. surged about 10% at the open after the company released updated feasibility study results for its Carina rare earths project, underscoring stronger-than-expected project economics.
The study outlines a robust development case for the Brazilian asset, with a post-tax NPV of approximately $1.7 billion (8% discount rate) and an internal rate of return (IRR) of 22%, according to company disclosures.
Key financial metrics from the feasibility study include:
Annual revenue: ~$487 million
Annual EBITDA: ~$352 million
Initial capex: ~$680 million
Payback period: ~4.5 years
Mine life: ~18 years
Andrievskii Verdict
The Carina project is expected to produce magnet rare earths including neodymium, praseodymium, dysprosium, and terbium—materials critical for electric vehicles, wind turbines, and advanced electronics.
Investor sentiment was further supported by growing strategic interest in non-Chinese rare earth supply chains, with Carina positioned as a potential long-term alternative source.
The stock reaction reflects renewed optimism that the project could become a meaningful contributor to global rare earth supply, while also improving Aclara’s long-term valuation profile.
Aleksei Andrievskii is the founder of the ANDRIEVSKII SEA WEALTH family office in Cyprus, a member of the advisory board at Bendura Bank AG, Liechtenstein