PVW Streamlines Portfolio Amid Funding Needs and Australian Gold Asset Review

Strong Foundations at Capão Bonito

PVW Resources Limited has delivered a transformative quarter for its Brazilian rare earth element (REE) projects, with the Capão Bonito Rare Earth Element Project emerging as a standout discovery. The company reported peak total rare earth oxide (TREO) grades reaching 5,662 parts per million (ppm) from shallow, near-surface intercepts, some extending up to 17 metres thick. These results underscore the potential for a large, laterally extensive mineralised system that could underpin a low-cost development pathway.

Complementing the drilling success, metallurgical testwork using ammonium sulphate leach methods has confirmed strong ionic adsorption clay (IAC) characteristics. Multiple intervals demonstrated magnetic rare earth oxide (MREO) recoveries exceeding 50%, with a remarkable 89% recovery over a 10-metre interval in one drill hole. This metallurgical profile is critical, as IAC-style deposits are known for their amenability to low-cost extraction techniques, enhancing the project's commercial appeal.

Expanding Exploration and Portfolio Focus

Beyond Capão Bonito, PVW has advanced drilling campaigns at several other Brazilian projects, including Itapeva, Sguario, Carambeí, Cerro Azul, and Mucambo. These efforts are supported by a data-driven approach to target generation, leveraging geophysical, geological, and topographic data to optimise drill site selection. Notably, the company has rationalised its portfolio by relinquishing the non-prospective Três Córregos tenement, a move that reflects disciplined capital allocation towards higher-value assets.

PVW's strategic outlook is focused on rapidly advancing Capão Bonito towards resource definition, with plans for infill and deeper drilling to better understand mineralisation geometry. Concurrently, auger drilling programs are set to commence at Sguario and Carambeí once land access is secured, while Cerro Azul awaits final landowner agreements. The Midwest Hub projects are also progressing, with reconnaissance drilling designed to evaluate saprolite depth and REE anomalies.

Parallel Review of Australian Gold Assets

While the Brazilian REE portfolio takes centre stage, PVW continues to review its Australian gold assets, including Leonora and Kalgoorlie. The company is considering divestment or restructuring options to streamline its focus and capital deployment. This dual-commodity strategy aims to balance exposure to critical minerals powering clean energy technologies with precious metals known for their value resilience.

Financially, PVW reported $320,000 in exploration expenditure for the quarter and no substantive production activities. The company ended the quarter with $110,000 in cash and is actively pursuing further funding to support ongoing operations and exploration programs. Payments to related parties amounted to $100,000, covering director fees and administrative services.

Looking Ahead

PVW's next steps include finalising Phase 1 analysis at Capão Bonito and commencing resource definition studies, expanding exploration across the Southeast Hub, and advancing metallurgical optimisation to confirm scalable processing pathways. The company’s disciplined approach to portfolio management and capital allocation positions it well to unlock shareholder value as it navigates the evolving landscape of critical mineral exploration.