Brazilian Rare Earths updates study and withdraws targets

• Brazilian Rare Earths retracted its previous Rocha da Rocha production target and associated financial forecasts following review.
• The company's share price remained unchanged at $4.24 following the announcement.
• Brazilian Rare Earths replaced the prior economic model with a standalone integrated Monte Alto and Camaçari case.

Brazilian Rare Earths (ASX:BRE) retracted its Rocha da Rocha production target and forecast financial information after an internal review.

The update followed the company's recent scoping study release, which had initially outlined project economics for the Bahia province development in Brazil.

The company stated that the proportion of inferred mineral resources scheduled in the mine plan from years 9 to 14 resulted in a lack of reasonable basis for the previous production targets and financial forecasts.

Following the announcement, the Brazilian Rare Earths share price was unchanged at $4.24.

The underlying Monte Alto and Sulista mineral resource estimates and previously reported exploration results were not retracted and remain valid.

The updated framework establishes a standalone integrated Monte Alto and Camaçari case that entirely excludes the Sulista Project.