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Brazilian Rare Earths Ltd ASX:BRE

0 opened or increased2 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 2 managers in total.

Position history by manager 2 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

202420252026

31 Dec 2023 to today

Commentary Showing 2 of 25

DateManagerActionSummary

31 Aug 2026Pengana Capital GroupHeldPengana Capital Group continues to hold Brazilian Rare Earths Ltd (ASX: BRE) after shares rose 14% on the release of a scoping study for the Monte Alto deposit, which highlighted world-leading grades of 11.3% total rare earth oxides. Pengana notes this is more than double the grades of major Western producers Lynas and MP Materials and should make Monte Alto one of the world's lowest-cost rare earth operations. The study's NPV of US$7.9 billion compares with a company market value of about US$690 million. Pengana observes that miners typically trade at around 30% of NPV at scoping stage, implying substantial potential upside. The study used a February 2026 cut-off, and subsequent positive drilling at Monte Alto should lift NPV in future studies.

Critical Minerals Rare EarthsMonthly Report, price recorded $4.01

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30 Jun 2026Perennial PartnersHeldPerennial Partners continues to hold Brazilian Rare Earths despite a 32.1% share price fall during the month, even as the company announced further very-high-grade exploration results. The manager attributes the decline to index-related trading in the stock and broader commodity market weakness rather than any deterioration in the underlying exploration story.

Rare EarthsMonthly Report, price recorded $4.49

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23 more comments on BREPro shows every comment, with a link to each source document.

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Articles

31 Aug 2026Brazilian Rare Earths' World-Class Grade Gets Validated by a Rival Deal

About Brazilian Rare Earths Ltd

Materials, Metals and Mining

Brazilian Rare Earths (ASX:BRE) is a high-grade rare earths explorer that has been volatile despite strong drilling results. In June 2026, Pengana and Perennial reported Brazilian Rare Earths fell 32% despite announcing more very high-grade exploration results, including from a fourth major area, Velhinhas, on its 1,800 square kilometre tenement, with Perennial attributing the fall to index-related trading. In May, Perennial noted a 33% rise on anticipation of a spin-out of its bauxite assets and index inclusion, and Pengana highlighted positive sector sentiment after USA Rare Earth acquired Serra Verde. Brazilian Rare Earths operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 24 comments from 2 fund managers, Pengana and Perennial. Founded in 2021 by Bernardo da Veiga and headquartered in Sydney, the company explores for rare earths in Bahia, Brazil.

Market cap: $574m
Price to earnings: Loss-making
Return on equity: -64.5%
Dividend yield: 0.0%
Price to book: 9.12x
Net margin: -390513.8%
52-week range: $2.04 to $7.07

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Brazilian Rare Earths Ltd (ASX:BRE)?

Fund managers including Pengana Capital Group and Perennial Partners have invested in Brazilian Rare Earths Ltd (ASX:BRE).

What opportunities or catalysts do fund managers highlight for Brazilian Rare Earths Ltd?

Pengana and Perennial highlight very high-grade drilling results across a large tenement package, a potential bauxite spin-off and positive sector sentiment from industry acquisitions.

What are the key risks to the Brazilian Rare Earths Ltd investment thesis, according to fund managers?

Perennial notes extreme volatility, including a 32% fall despite good results, driven by index trading, and the company remains an explorer facing development and funding risks.

What does Brazilian Rare Earths Ltd (ASX:BRE) do?

Brazilian Rare Earths Ltd. is a mineral exploration company headquartered in Sydney, Australia. Founded on March 3, 2021, by Bernardo da Veiga, the company specializes in the discovery and development of mineral resources located in Brazil. As an exploration-focused firm, it manages operations centered on identifying and advancing high-value mineral assets within the Brazilian region.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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