First Metals Texas, LP, under the management of Rare Element Partners, LLC, has announced a strategic capital-raising initiative aiming to secure $40 million to fund an extensive exploration and drilling program in the historic Terlingua Mining District of Brewster County, Texas. This funding round, facilitated by Projects RH Americas, is set to attract leading capital advisers as the company targets invaluable mineral resources, including gold, silver, cobalt, and rare earth elements.
The investment opportunity offers investors a significant stake in the venture—70% of the company is structured through Limited Partner interests. Company leadership envisions this project leading to multi-metal discoveries within a mining district renowned for its past productivity. The overarching goal is to achieve a project exit valuation exceeding $400 million, with possibilities for an asset sale, joint venture, or initial public offering (IPO).
Texas First Metals is committed to acquiring the majority of mineral rights across the Terlingua Mining District, where more than 150,000 flasks of mercury have previously been extracted. Utilizing modern geophysical, geochemical, and drilling techniques, the firm aims to explore the district’s potential for gold and other valuable metals. Early-stage efforts have identified gold, silver, copper, zinc, and rare-earth elements, underscoring the area’s untapped resource potential.
Over $2 million has already been invested in preliminary data acquisition and fieldwork, with land access agreements in place and necessary permits proceeding through the approval process. The drilling program is set to commence with US Coring as the appointed contractor, signaling a promising step in the project’s timeline.
The experienced project team, which includes professionals in geology, drilling, finance, and logistics, aims to deliver National Instrument 43-101 compliant reports to support bankable feasibility studies and future monetization efforts. With increasing domestic demand for mineral resources and favorable commodity prices, Texas First Metals positions itself at the forefront of the industry.
Projects RH Americas will provide essential financial input, strategic direction, and risk management support to ensure the project’s long-term fiscal sustainability while aligning with funding objectives. Planned deliverables for potential investors include a comprehensive financial model, an information memorandum, a pitch deck, and a teaser for board approval.
As First Metals Texas embarks on this ambitious venture, it stands as a unique opportunity for investors looking to engage in a significant mining project within a historically rich and resource-abundant region.
