Eminence Minerals Ltd. has agreed to divest its non-core Mata da Corda titanium and critical minerals project in Brazil as part of its portfolio optimisation initiative as it focuses on its priority assets.
Under a binding asset sale agreement, Eminence will sell 100 per cent of the project to local buyers Titanium Global SPE Ltd for a total cash consideration of US$2 million (AU$2.88 million).
The Mata da Corda Project is an exploration-stage titanium and critical minerals project located in the established mining jurisdiction of Minas Gerais State, Brazil.
The asset has been advanced through surface sampling, drilling, and mineralogical work announced by the company during 2024 and 2025.
The transaction hands over 51 granted exploration licences alongside all associated geological and mining data. The deal significantly boosts Eminence’s financial runway, lifting its pro-forma cash position to roughly AU$5.4 million.
This total combines the fresh divestment proceeds with a recently completed AU$2.53 million capital raising.
Eminence CEO Anthony Hills described the cash sale as a disciplined portfolio optimisation initiative that simplifies the company’s asset base.
“Importantly, the transaction provides non-dilutive funding that strengthens our balance sheet and supports the continued advancement of our priority projects,” Hills said.
“We believe this outcome reflects the value generated through our technical work at Mata da Corda and is consistent with our strategy of actively managing the portfolio to maximise shareholder value.”
The company intends to redeploy the capital toward its higher-priority exploration assets, most notably its flagship Campo Grande Rare Earth Project in Bahia, Brazil.
A drilling program is currently underway at Campo Grande across multiple high-priority corridors located near Brazilian Rare Earths’ prominent Sulista Project.
Completion of the Mata da Corda sale remains subject to customary regulatory processes and closing conditions, which must be satisfied or waived within a 90-day window.
The transaction does not require shareholder approval, allowing the transition to move straight to the Brazilian National Mining Agency for formal licence transfers once conditions are met.