At PDAC 2026 in Toronto, InvestorNews host Tracy Hughes spoke with Simon Stilwell, the newly appointed chairman of Resouro Strategic Metals Inc. (ASX: RAU | TSXV: RSM | OTCQB: RSGOF), about why the company’s flagship Brazilian project caught his attention and what shareholders should expect as the company refines its strategy.
Stilwell brings nearly three decades of capital-markets experience to the role and said his connection to Resouro began with a professional relationship that dates back decades. “I knew Chris from 25 years ago in my early capital markets career,” Stilwell said, referring to CEO Chris Eager. “I acted for Monterico Metals, which was, I think, his first business, and we had a good working relationship then.”
After stepping back from capital markets last summer, Stilwell said he began evaluating opportunities for 2026. “I rang around the people I knew and had projects that I thought were interesting, and the Resouro one really caught my eye,” he said.
Several factors drove the decision. “One was the scale of the project. If you’re going to do something, do a big one, and it’s a really, really big project,” Stilwell said. “I liked the grade, and that was really helpful in terms of forming what could be done with the business.”
Jurisdiction also played a role. “Brazil, I think, is a great operating market,” he said, adding that the end markets for the company’s commodities were equally important. “Even before everything that’s happened in the last few weeks, the end markets and who the customers were likely to be was a key component in the decision-making.”
Resouro is advancing its Tiros project in Brazil, which contains titanium and rare earth elements, while also holding the Novo Mundo gold project. The presence of multiple commodities presents both an opportunity and a communications challenge.
“Storytelling is critical in selling a company to the capital markets,” Stilwell said. “If you talk to people about a rare earths project, they’re excited because of everything that’s happening in that market, and titanium kind of less so.”
He described the company as pursuing a “dual strategy” but acknowledged that clarity will be important for investors. “From an investor’s perspective, it can be complicating,” Stilwell said. “They just want the clarity of who are they, what are they really trying to achieve and can we measure them against that.”
During PDAC, Stilwell said his focus was on gathering information and aligning the company’s direction. “It’s a big fact-finding mission,” he said. “We’re sort of week three in the job, and so it’s a perfect opportunity to see everything else that’s happening both in the mining industry and in the rare earth space.”
The company also released metallurgical test results and provided an update on its preliminary economic assessment timeline. “I think the key standout message is good grade, good recovery, and that gives us a platform to work on going forward,” Stilwell said.
Looking ahead, he outlined several priorities for the remainder of 2026, including the completion of the PEA, refining the company’s messaging to investors, evaluating the role of its gold project, and securing potential offtake agreements.
“The key one that people are looking for is the PEA,” Stilwell said. “And I think clarity on that strategy and clearer messaging on what we’re trying to achieve would be a second one.”
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