Upon completion, CAP, Hochschild and New Hartsdale will each own 10.18%, 19.65 and 36.9% of Aclara’s share capital.
Aclara Resources’ stock rose 7.1% to C$0.53 apiece as of 11:50 a.m. ET, for a market capitalization of C$87.3 million. It traded between C$0.36 and C$0.65 over the past 52 weeks.
In welcoming CAP as a new shareholder, Aclara’s chairman Eduardo Hochschild said the Chilean conglomerate will bring “deep industry expertise” and is “an invaluable partner in our mission to establish a sustainable and integrated supply chain for rare earths.”
Ramon Barua, CEO of Aclara, added that the financing is “an important step” in Aclara’s clear strategy to become a reliable and sustainable producer of all magnetic rare earths, highlighting CAP’s investments in the company’s Penco module project in Chile.
In April, CAP, which operates iron ore mines in the South American country, announced…
