Aguia Resources has secured critical financing and advanced key projects in Brazil and Colombia, setting the stage for phosphate production in early 2026 and improved gold output. Meanwhile, the company streamlines operations and divests non-core assets to sharpen its focus.
- R$6 million loan secured for Tres Estradas phosphate mine refurbishment
- Mining at Tres Estradas expected to commence March/April 2026
- Santa Barbara gold project achieves 45% improvement in gold recovery
- Divestment agreement signed for Atocha Silver Project in Colombia
- Leadership changes with Tim Hosking appointed Managing Director
Financing and Operational Progress in Brazil
Aguia Resources Limited has taken significant strides in advancing its phosphate mining ambitions in Brazil. The company secured a R$6 million (approximately A$1.7 million) loan from the Regional Development Bank of the Far South (BRDE) to refurbish the DB processing plant and open the Tres Estradas phosphate mine. This financial backing is pivotal as Aguia prepares to commence mining operations at Tres Estradas, with the operating licence anticipated in March or April 2026.
Mine preparation activities at Tres Estradas have been completed, including drainage works, road maintenance, and site infrastructure, all in line with environmental and installation licence requirements. Concurrently, environmental monitoring continues to ensure compliance with regulatory standards. The final upgrades to the processing plant are underway, focusing on expanding storage capacity and optimising operations to meet production targets.
Marketing and Product Development
On the commercial front, Aguia has signed seven letters of intent to sell 54,000 tonnes of its proprietary PAMPAFOS™ phosphate fertiliser across Rio Grande do Sul and Uruguay. The product has received approval from Brazil's Ministry of Agriculture, pending final inspections tied to the processing facility upgrades and mining licence issuance.
Innovative trials integrating low-grade phosphate ore with organic compost have yielded promising results, accelerating the biological process by 60%. This could position PAMPAFOS™ as a natural, highly soluble organo-mineral fertiliser, aligning with circular economy principles and potentially opening new market opportunities.
Operational Efficiency and Exploration Success in Colombia
In Colombia, the Santa Barbara Gold Project has undergone a strategic overhaul. Independent audit and operational adjustments have led to a streamlined workforce, cutting headcount by over 50% and consolidating mining activities into a single shift. These measures have already delivered a 45% improvement in gold recovery during December 2025, with gold sales reaching approximately A$120,000.
Exploration drilling continues to reveal encouraging results, including the discovery of a significant new vein system that suggests a larger mineralised stockwork connecting the Santa Barbara and Mariana vein sets. Channel sampling returned high-grade gold assays, indicating strong potential for expanding the resource base.
Strategic Divestment and Corporate Developments
Aguia has signed a binding agreement to divest its non-core Atocha Silver Project in Colombia, receiving C$1 million in cash upon closing and retaining a 25% equity stake contingent on future liquidity events. This move allows the company to focus resources and capital on near-term production at its core phosphate and gold projects.
Leadership changes have also been afoot, with Tim Hosking appointed CEO in November 2025 and subsequently elevated to Managing Director in January 2026. Warwick Grigor transitions to Non-Executive Chair, signalling a refreshed governance structure aimed at supporting Aguia’s growth trajectory.
Financial Position and Outlook
The company successfully raised approximately A$4 million through an entitlement offer and private placements, bolstering its cash position to nearly A$2 million at quarter-end. Operating expenditures increased as Aguia ramped up activities, reflecting investments in exploration, plant refurbishment, and operational optimisation.
Looking ahead, the issuance of the operating licence for Tres Estradas and the commencement of mining activities are key milestones. Meanwhile, ongoing improvements in gold recovery at Santa Barbara and the integration of new exploration data will be critical to sustaining momentum.
Bottom Line?
With mining poised to start at Tres Estradas and gold recoveries climbing at Santa Barbara, Aguia’s next moves will be closely watched by investors eager for production milestones.
Questions in the middle?
- Will the operating licence for Tres Estradas be granted on schedule in March/April 2026?
- Can gold recovery rates at Santa Barbara consistently exceed 80% as targeted?
- How will the divestment of the Atocha Silver Project impact Aguia’s focus and capital allocation?