R$5 billion (~US$900 million / ~A$1.37 billion) pool from...

R$5 billion (~US$900 million / ~A$1.37 billion) pool from Brazil’s BNDES and FINEP

• IXR’s Viridion JV has progressed to the second phase of this highly competitive national program.

• It is expected to receive a tailored funding package that could include:

  • Non-dilutive grants

  • Low-interest debt

  • Equity participation by Brazilian government agencies

This is not a minor grant — this is part of Brazil’s nation-building strategy for critical minerals.

• It’s designed to support industrial-scale transformation of strategic minerals.

• Very few companies are selected — Viridion is one of them.

If IXR secures even a modest slice (e.g., US$50–100M), it could completely fund the Brazil pilot-to-commercial transition with minimal or no dilution to shareholders.

If this funding goes through I see a rerate on the horizon for sure.