OREMAVEN
XMM 7,722.00 -2.63% YTD +5.6% OM ASX 450.55 -2.56% YTD +0.1% OM PRECIOUS 349.20 -2.24% YTD +2.5% OM EX-PREC 418.91 -2.72% YTD -1.1% XAU 4,115.59 +2.31% YTD -4.9% GLD 375.49 +0.81% YTD -5.2% GDX 85.75 +1.37% YTD -0.0% SIL 77.33 -1.00% YTD -7.3% COPX 70.23 -5.81% YTD -1.8% URNM 40.07 -2.79% YTD -27.0%
2026-11-06
◂ Monitor BCM ASX

Brazilian Critical Minerals Limited

DFS Unfunded Developer · Rare Earths · BR Rating locked: sign in to view v8.1 · bcm-20261031t153929-full
Last 2026-11-06
A$0.046
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$103.3M
EV
A$91.7M
Cash
A$12.2M
Debt
A$661.2K

Narrative and provenance

Research & Sources

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Chronological evidenceSource-document inventory17 documents
BCM market snapshot at 31 Oct 2026 (local database)Market Data · MediumMetadata Only

Output of miners.v8db.market_snapshot BCM with cutoff 2026-10-31 and 2,244,951,604 shares: market cap A$116.7m, 12m return +57.6%, 3y +108%, 52-week range A$0.021-0.084, 20-day average traded value A$305,594, AUD per USD 1.4407, peer rows ARR, CRI, LYC and 9 others; commodity spot fields empty.

Document ID
market-snapshot-2026-10-31
Published UTC
2026-10-31T00:00:00+00:00
Projects
ema-rare-earths
Commodities
rare_earths
Open original source ↗
Rare Earth and Critical Mineral Prices (REEx weekly table)Commodity Data · MediumMetadata Only

Third-party price table reporting NdPr oxide about US$103-106/kg in China and US$125-140/kg outside China for October 2026. Page is undated beyond the cited week; used as market context and spot-case cross-check only, not as a valuation input.

Document ID
ndpr-price-rareearthexchanges
Published UTC
2026-10-31T00:00:00+00:00
Projects
—
Commodities
rare_earths
Open original source ↗
BCM ASX close A$0.052 on 30 Oct 2026 (reference price)Market Data · MediumMetadata Only

Latest eligible local ASX close registered by miners.reference_price for BCM at valuation date 31 Oct 2026: close A$0.052 (open 0.056, high 0.057, low 0.051), volume 7,465,003, price fresh (1 day). Source database: data/asx_mining_companies.db via market data provider history.

Document ID
asx-close-bcm-2026-10-30
Published UTC
2026-10-30T00:00:00+00:00
Projects
ema-rare-earths
Commodities
rare_earths
Open original source ↗
Appendix 2A quotation of 1,666,667 shares on option exercise, 28 Oct 2026Corporate Action · MediumExtracted

Appendix 2A: 1,666,667 shares issued on exercise of options at A$0.011 on 28 Oct 2026; issued capital after quotation 2,244,951,604 ordinary shares.

Document ID
aq-2026-10-28
Published UTC
2026-10-28T00:00:00+00:00
Projects
—
Commodities
—
Open original source ↗
Quarterly activities report and Appendix 5B, quarter ended 30 Sep 2026Results · HighExtracted

Quarterly activities report and Appendix 5B for the quarter to 30 Sep 2026: cash A$12.18m, operating outflow A$1.72m, exploration A$1.31m, placement proceeds A$9.4m net, FEED with Altris (24 weeks), INCRA consent outstanding, Sais Nordeste subsequent event, tenement schedule, no offtake.

Document ID
qtr-sep-2026
Published UTC
2026-10-27T00:00:00+00:00
Projects
ema-rare-earths
Commodities
rare_earths
Open original source ↗
BCM acquires magnesium sulphate plant (Sais Nordeste 90%), ASX release 5 Oct 2026Transaction · HighExtracted

Binding agreement (5 Oct 2026) for BBX to acquire 90% of Sais Nordeste (magnesium sulphate plant in judicial recovery) for R$1 plus assumed legacy tax liabilities of about R$15.3m (A$4.2m), with BCM funding restructuring; completion subject to conditions precedent.

Document ID
magsul-2026
Published UTC
2026-10-05T00:00:00+00:00
Projects
sais-nordeste-plant · ema-rare-earths
Commodities
rare_earths
Open original source ↗
Annual Report to shareholders, year ended 30 June 2026Results · HighExtracted

FY26 annual report (year to 30 Jun 2026): loss A$7.87m, operating outflow A$5.54m, cash A$4.36m, Drake convertible note A$0.66m, equity A$3.57m, 1,960,624,166 shares at year end, 307.6m options and 80.9m performance rights outstanding at report date, no dividends, contingencies (Drake writ, EcoBiome invoice, labour claims).

Document ID
ar-fy26
Published UTC
2026-09-28T00:00:00+00:00
Projects
ema-rare-earths
Commodities
rare_earths
Open original source ↗
Change of director's interest notice, Andrew Reid, 17 Sep 2026Governance · LowExtracted

Change of director's interest, Andrew Reid, 17 Sep 2026: 188,679 shares at A$0.053 and 20,000,000 performance rights acquired.

Document ID
dir-reid-2026-09
Published UTC
2026-09-17T00:00:00+00:00
Projects
—
Commodities
—
Open original source ↗
Change of director's interest notice, Jeremy Robinson, 17 Sep 2026Governance · LowExtracted

Change of director's interest, Jeremy Robinson, 17 Sep 2026: placement participation at A$0.053 (1,000,000 shares per FY26 annual report note 26).

Document ID
dir-robinson-2026-09
Published UTC
2026-09-17T00:00:00+00:00
Projects
—
Commodities
—
Open original source ↗
Change of director's interest notice, Nicholas Holthouse, 17 Sep 2026Governance · LowExtracted

Change of director's interest, Nicholas Holthouse, 17 Sep 2026: 188,679 shares at A$0.053 and 10,000,000 performance rights.

Document ID
dir-holthouse-2026-09
Published UTC
2026-09-17T00:00:00+00:00
Projects
—
Commodities
—
Open original source ↗
Appointment of Chief Financial Officer, 18 Aug 2026Leadership · MediumExtracted

Appointment of Justine Lea as Chief Financial Officer effective 18 Aug 2026; CA with 23 years of ASX-listed finance experience.

Document ID
cfo-2026-08
Published UTC
2026-08-18T00:00:00+00:00
Projects
—
Commodities
—
Open original source ↗
A$10 million institutional placement to advance Ema, ASX release 7 Jul 2026Financing · HighExtracted

A$10m two-tranche placement at A$0.053: Tranche 1 139,623,833 shares (A$7.4m) issued 14 Jul 2026; Tranche 2 50,432,771 shares (A$2.67m) issued 17 Sep 2026 after the 10 Sep 2026 EGM; lead manager options 20m at A$0.10.

Document ID
placement-jul-2026
Published UTC
2026-07-07T00:00:00+00:00
Projects
ema-rare-earths
Commodities
rare_earths
Open original source ↗
Ema Rare Earth Project Bankable Feasibility Study, delivering exceptional economics (ASX release 30 Jun 2026)Study · HighExtracted

Ema Bankable Feasibility Study (30 Jun 2026): 20-year ISR MREC life of mine, 5,500 tpa TREO average, Stage 1 capex US$74m incl. 14.4% contingency and US$19m CCS, Stage 2 US$27m, post-tax NPV8 US$1,465m (base) and US$1,856m (high), IRR 105%, C1 US$8.84/kg TREO, AISC US$13.02/kg TREO, MRE Table 4 (Indicated 392 Mt, Inferred 681 Mt), royalties 2% federal, 1% landowners, 3% mining rights, SUDAM IRPJ incentive, no offtake, no ore reserve.

Document ID
bfs-2026
Published UTC
2026-06-30T00:00:00+00:00
Projects
ema-rare-earths
Commodities
rare_earths
Open original source ↗
Ema BFS investor presentation, June 2026Presentation · MediumExtracted

BFS investor presentation (June 2026): headline metrics, production LOM totals, price cases (base NdPr US$108/kg, high US$130/kg), sensitivity table, BFS versus scoping comparison, resource summary.

Document ID
bfs-pres-2026
Published UTC
2026-06-30T00:00:00+00:00
Projects
ema-rare-earths
Commodities
rare_earths
Open original source ↗
NdPr oxide price forecast to rise to US$90,000/t this year (Engineering News, 2 Feb 2026)Commodity Data · MediumMetadata Only

BMI February 2026 forecast of an average NdPr oxide price of US$90,000/t for 2026 with deficit to 2030; predates October 2026 prices, so stale against the spot case; context only.

Document ID
ndpr-forecast-bmi-2026
Published UTC
2026-02-02T00:00:00+00:00
Projects
—
Commodities
rare_earths
Open original source ↗
Ema scoping study confirms low capex and opex, February 2025 (superseded)Study · MediumExtracted

Superseded February 2025 scoping study: capex US$55m, post-tax NPV US$355m, IRR 52%, NdPr US$60/kg; used only for the BFS-versus-scoping history.

Document ID
scoping-2025
Published UTC
2025-02-26T00:00:00+00:00
Projects
ema-rare-earths
Commodities
rare_earths
Open original source ↗
Updated mineral resource estimate for Ema, January 2025 (superseded)Resource Update · MediumExtracted

Superseded January 2025 mineral resource estimate for Ema, kept for history of the resource (replaced by the April 2026 estimate).

Document ID
mre-2025
Published UTC
2025-01-14T00:00:00+00:00
Projects
ema-rare-earths
Commodities
rare_earths
Open original source ↗
Evidence facts45
ar26-cash-jun26cash

4361548 AUD

2026-06-30
ar26-debt-jun26debt

661243 AUD

2026-06-30
ar26-equity-jun26book equity

3565307 AUD

2026-06-30
ar26-npat-fy26npat

-7874451 AUD

2026-06-30
ar26-ocf-fy26operating cash flow

-5536916 AUD

2026-06-30
ar26-capex-fy26capex

51227 AUD

2026-06-30
ar26-explor-fy26exploration spend 12m

4124930 AUD

2026-06-30
ar26-shares-jun26shares basic

1960624166 shares

2026-06-30
ar26-shares-jun25shares basic

1310533235 shares

2025-06-30
divps-ttmdividends per share ttm

0 AUD/share

2026-10-31
mre26-ind-tonnesresource tonnes

392 Mt

2026-03-10
mre26-ind-graderesource grade

773 ppm TREO

2026-03-10
mre26-ind-containedresource contained

303016 t TREO

2026-03-10
mre26-inf-tonnesresource tonnes

681 Mt

2026-03-10
mre26-inf-graderesource grade

712 ppm TREO

2026-03-10
mre26-inf-containedresource contained

484872 t TREO

2026-03-10
mre26-total-contained-checkresource contained

785436 t TREO

2026-03-10
mre26-ind-mreo-graderesource grade

200 ppm MREO

2026-03-10
bfs-npv-poststudy npv post tax

1465000000 USD

2026-06-30
bfs-irr-poststudy irr

105 %

2026-06-30
bfs-capex-initialinitial capex

74000000 USD

2026-06-30
bfs-capex-stage2initial capex

27000000 USD

2026-06-30
bfs-lifemine life

20 years

2026-06-30
bfs-prodannual production lom

5500 t/yr TREO

2026-06-30
bfs-c1c1 cost

8840 USD/t

2026-06-30
bfs-pricestudy price assumption

108000 USD/t

2026-06-30
bfs-discstudy discount rate

8 %

2026-06-30
bfs-study-datestudy date

2026-06-30 date

2026-06-30
bfs-study-typestudy type

bfs text

2026-06-30
bfs-miningmining method

in-situ recovery (ISR) of ionic adsorption clay, pods leached sequentially, MgSO4 lixiviant, MREC precipitation text

2026-06-30
bfs-recoveryrecovery pct

55 %

2026-06-30
bfs-sustsustaining capex

12950000 USD/yr

2026-06-30
bfs-aiscaisc lom

13020 USD/t

2026-06-30
q5b-cash-sep26cash

12180000 AUD

2026-09-30
q5b-ocf-q1fy27operating cash flow

-1723000 AUD

2026-09-30
q5b-capex-q1fy27capex

44000 AUD

2026-09-30
q5b-burn-q1fy27quarterly net burn

1767000 AUD

2026-09-30
q5b-explor-q1fy27exploration spend 12m

1309000 AUD

2026-09-30
placement-committed-after-cashcommitted funding

0 AUD

2026-09-30
bfs-permitpermitting status

IPAAM environmental licence and INCRA land consent outstanding; GU trial mining licence applications lodged; no full mining licence text

2026-10-27
ema-ownershipownership pct

100 pct

2026-09-30
sais-ownershipownership pct

90 pct

2026-10-05
sais-plant-stageplant stage

care and maintenance since February 2026 (judicial recovery) text

2026-10-05
sais-feed-sourcefeed source

captive: first-phase output about 50% of Ema magnesium sulphate needs; MgO and H2SO4 from Brazilian suppliers under supply agreements text

2026-10-05
aq-shares-oct26shares basic

2244951604 shares

2026-10-28
Conflicts requiring judgment2
  • MREO recovery (BFS)

    The BFS states MREO recovery of 55% (Table 2 and Table 22); the Sep 2026 quarterly boilerplate quotes an average of 68% MREO. The study figure is used; the boilerplate is not a study input.

  • AISC basis

    The release gives AISC as US$37.50/kg MREO and the presentation as US$13.02/kg TREO. Both are the same LOM cost on different bases; the TREO basis is used, and the MREO figure is recorded as the MREO equivalent.