Aclara Resources Announces Investment Agreement with Chilean Conglomerate

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Aclara Resources shares shot up to a near 52-week high on Wednesday after the rare earth elements (REE) developer announced an investment agreement with Chilean conglomerate CAP SA. CAP will make a strategic investment in REE Uno, Aclara’s Chilean subsidiary which owns the Penco module as well as all its mining concessions in the country, in exchange for a 20% equity participation in the REE unit. This initial capital, according to Aclara’s calculations, gives REE Uno a pre-money valuation of $116.5 million.