08:34 AM EDT, 10/14/2025 (MT Newswires) -- Verde AgriTech ( VNPKF ) , which gained 8.5% and hit 52 week highs on the TSX last Friday, before the holiday weekend, announced Tuesday that its board has concluded a detailed review of its recent new district-scale rare earths discovery, alongside a review of ongoing fertilizer operations and feedback from management and shareholders.

Following this assessment, the board has approved an "accelerated, cost-efficient development plan" for this new project, officially named the Minas Americas Global Alliance rare earths project.

In addition, NPK said the board identified several project milestones and approved plans to finance near term exploration plans, without compromising the company's low carbon specialty fertilizer business.

Verde said it is fully funded to execute the initial project work program while continuing its fertilizer operations, with near C$11.5 million in cash and receivables on hand.

On upcoming project milestones, NPK cited full mobilization, with a third drill rig expected on site the week of Oct. 20. For Q4 2025, NPK expects to confirm ionic clay mineralization with summary of ionic adsorption diagnostics together with full leachate impurity and radiological screening; and to provide an update on initial drilling; and to complete initial drilling and additional trenching, release assay results.

Then for Q1 2026, NPK expects to release an ANSTO recovery test; and publish a maiden NI 43-101 mineral resource estimate. Then in mid 2026, publish a preliminary economic assessment to "demonstrate economics".

"Company owned rigs are now turning, with a third rig mobilizing shortly. Our in-house lab is fast tracking metallurgical testwork while leading external laboratories conduct independent validation," said Cristiano Veloso, founder and CEO.

"This is the same team that built and operated two mines and two industrial plants in the same region in Brazil -- an execution advantage we intend to leverage. We expect to confirm the project's ionic clay mineralization and report initial drilling in Q4 2025, followed by a maiden mineral resource estimate and a Preliminary Economic Assessment in the first half of 2026. These programs are supported by our current liquidity, approximately $11.5 million in cash and receivables, and disciplined capital allocation. We will let the data lead and remain focused on creating value for our shareholders."