Why did Eminence Minerals (ASX:EMA) sell the Mata da Corda Project?

Eminence Minerals (ASX:EMA) executed the divestment to strengthen its balance sheet with non-dilutive funding and simplify its asset base. The company stated that this transaction allows it to focus its capital and technical resources on advancing its priority growth assets.

What are the financial details of the Eminence Minerals (ASX:EMA) transaction?

Eminence Minerals (ASX:EMA) received total cash consideration of US$2 million, which delivers approximately $2.8 million in cash proceeds. This transaction increases the pro forma cash position of Eminence Minerals (ASX:EMA) to approximately $5.4 million when combined with a recent $2.5 million capital raising.

What asset licences and shares are involved in the Eminence Minerals (ASX:EMA) portfolio adjustments?

The transaction involves the sale of 100 per cent of the Mata da Corda Project, which comprises 51 granted exploration licences in Brazil. Separately, Eminence Minerals (ASX:EMA) holds 307,692 shares in Maxus Mining resulting from a prior agreement executed in March.

What is the next project timeline for Eminence Minerals (ASX:EMA)?

Eminence Minerals (ASX:EMA) is currently conducting an active drilling program at its 100 per cent owned Campo Grande Rare Earth Project in Bahia, Brazil. This exploration work is progressing across multiple high-priority rare earth corridors.

How did the market react to the Eminence Minerals (ASX:EMA) announcement?

Following the asset sale announcement, the Eminence Minerals (ASX:EMA) share price remained unchanged at $0.038. The company noted that the completion of the divestment remains subject to customary conditions precedent and regulatory processes, though no shareholder approval is required.

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Eminence Minerals sells Mata da Corda Project for US$2M

Written by Heidi Cuthbert Published Jul 6, 2026, 12:05 AM

Eminence Minerals has executed a binding agreement to divest its 100% interest in the Mata da Corda Project.
The transaction increased the company's pro forma cash position to approximately $5.4 million, while the share price remained unchanged.
The company stated that the divestment will allow it to focus resources on its priority growth assets.

Eminence Minerals (ASX:EMA) has executed a binding agreement to sell its Mata da Corda Project for US$2 million.

This sale follows a recent capital raising of $2.5 million completed by the company on June 11.

"Importantly, the transaction provides non-dilutive funding that strengthens our balance sheet," said Eminence Minerals CEO Anthony Hills.

The transaction includes 51 granted exploration licences and delivers around $2.8 million in cash proceeds to the company.

Following the announcement, the Eminence Minerals share price was unchanged at $0.038.

The company is currently conducting a drilling programme at its Campo Grande Rare Earth Project in Bahia, Brazil.

Eminence also holds 307,692 shares in Maxus Mining following an agreement executed in March.

Eminence Minerals sells Mata da Corda Project for US$2M

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