January 9, 2026
Brazilian mineral exploration company Atlas Critical Minerals prices upsized US IPO at $8, below the range
Atlas Critical Minerals, a mining company focused on rare earths, titanium, and graphite projects in Brazil, raised $10 million by offering 1.2 million shares at $8, below the range of $9 to $11. The company had last amended its terms to offer 0.8 million shares to raise $8 million. Atlas had previously filed to raise the same amount by offering 1 million shares at a range of $7 to $9; adjusting for the reverse split, its previous IPO terms were 0.4 million shares at a range of $16.80 to $21.60. At pricing, the company commands a market cap of $40 million.
Atlas Critical Minerals Amend the listing terms
Brazilian mineral exploration company Atlas Critical Minerals revises terms ahead of $8 million Nasdaq uplisting
Atlas Critical Minerals, a mining company focused on rare earths, titanium, and graphite projects in Brazil, filed an amendment Monday with the SEC disclosing the completion of a reverse stock split, along with new offering terms. The company is currently quoted on the OTC （JUPGD）。
The Belo Horizonte, Brazil-based company plans to raise $8 million by offering 0.8 million shares at a price range of $9 to $11. The company had previously filed to raise the same amount by offering offer 1 million shares at a range of $7 to $9; adjusting for the reverse split, its previous IPO terms were 0.4 million shares at a range of $16.80 to $21.60. At the midpoint of the revised range, Atlas Critical Minerals will command a market cap of $45 million.
Atlas Critical Minerals is focused on developing critical mineral projects in Brazil. Its portfolio includes rare earth and titanium prospects in Goiás and Minas Gerais, graphite properties in Minas Gerais, copper and nickel rights in Goiás and Piauí， and uranium-bearing areas across six states in Brazil. The company also holds iron ore, gold, and quartzite assets, with iron ore operations targeted to resume at the end of 2025.
Because its proposed market cap is now less than $50 million, Atlas Critical Minerals will be excluded from RC’s 2025 IPO stats.
Atlas Critical Minerals Company News
Ipora Rare Earth Project Shows Strong Preliminary Results
Atlas Critical Minerals Reports Strong Initial Results from Its Ipora Ionic Clay Rare Earths Project
Initial Processing Studies Show Recovery Rates Exceeding 60% for High-Value Magnetic Rare Earths
Belo Horizonte, Brazil–（Newsfile Corp. – September 16, 2025） – Atlas Critical Minerals Corporation （OTCQB: JUPGF） （”Atlas Critical Minerals” or the “Company”）， an exploration company focused on critical minerals for defense applications and electrification, is pleased to announce highly encouraging initial results from its Iporá Rare Earths Project （the “Project”） located in Goiás State, Brazil. The Company has retained SGS Canada Inc. （”SGS”）， a premier mineral evaluation company, to prepare a Technical Report Summary regarding the Project under the U.S. guidelines of Item 1300 of Regulation S-K （”Regulation S-K 1300″）。 Marc-Antoine Laporte from SGS is the Qualified Person for the Project under Regulation S-K 1300.
Iporá Rare Earth Project Overview
The Iporá Project comprises 12 mineral rights covering 18,615 hectares （~ 46,000 acres） in western Goiás State. The June/July 2025 field campaign included geological mapping of 4 permits, collection of 161 surface samples, and 18 auger drill holes totaling 171 meters. The project targets ion-adsorption clay （”IAC”） deposits, similar to those in southern China that dominate global heavy rare earth production.
Surface sampling results validated the drilling program, with laterite samples above alkaline complex rocks achieving grades up to 1,366 ppm TREO and 247 ppm MREO. The geological setting features regolith-hosted mineralization associated with the Goiás Alkaline Province （”GAP”） and Iporá Granite, creating favorable conditions for ionic clay deposits.
Outstanding Initial Processing Results
We believe that the Company’s initial metallurgical testing program demonstrates the high-quality nature of the Iporá mineralization. Under standard leaching conditions, the project achieved impressive recovery rates across all rare earth elements. Applying a sample cutoff that ensured a minimum TREO recovery of 25%, the results showed strong average recovery of valuable components, with particularly robust performance for the most economically significant elements:
MREO: 44% average recovery, with peak rates exceeding 60%
HREO: 55% average recovery
Yttrium: 63% average recovery
These results are particularly significant as magnetic rare earths （neodymium, praseodymium, dysprosium, and terbium） are essential for permanent magnets used in electric vehicles, wind turbines, and defense applications.
It is important to note that the processing studies included variability testing under different conditions, with optimization work showing potential for significantly enhanced recoveries through adjusted pH and particle size parameters.
As the next steps, the Company plans to advance the Iporá Project through expanded drilling programs targeting the most prospective laterite zones, with particular focus on areas showing optimal intersection of high grades and strong leaching characteristics. Additional metallurgical optimization work will continue to enhance recovery rates.
Diversified Rare Earth Portfolio Strategy
The results from the Iporá Project complement Atlas Critical Minerals’ previously announced Alto do Paranaíba Project, creating a compelling diversified rare earth strategy. In August 2025, the Company filed a Technical Report Summary for Alto do Paranaíba, which demonstrated high-grade mineralization up to 28,870 ppm TREO within the Mata da Corda Group, representing a conglomerate-hosted rare earth deposit. With Iporá’s ionic clay mineralization and Alto do Paranaíba’s conglomerate-hosted system, Atlas Critical Minerals now controls two distinct rare earth deposit types across its Brazilian portfolio. This diversification provides significant strategic advantages, including reduced geological risk through multiple deposit styles, varied metallurgical processing approaches that may offer different cost structures and recovery rates, and enhanced optionality for development sequencing. Ionic clay deposits typically offer simpler processing with lower capital requirements, while conglomerate-hosted deposits can provide larger-scale resources. Together, we believe that these complementary projects position Atlas Critical Minerals as a leading rare earth explorers in Brazil with multiple pathways to production across different market conditions and technical scenarios.
Atlas Critical Minerals was founded in 2016 and booked $413 thousand in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol ATCX. A.G.P. and Bradesco BBI are the joint bookrunners on the deal.