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ARA: EIA approval continues to de-risk Penco Module

Published: 2026-06-09Institution: RBC Capital MarketsCompany / ticker: ARA.TOPages: 5Original language: 英语Evidence page: 2

Research evidence excerpt

ARA: EIA approval continues to de-risk Penco Module

Aclara Resources Inc

Contributing Authors

RBC Dominion Securities Inc.

Andrew D. Wong (Analyst) (416) 842-7830 andrew.d.wong@rbccm.com

Ali Mecklai (Associate) (416) 842-8044 ali.mecklai@rbccm.com

Saad Khan (Associate) (416) 842-8395 saad.khan@rbccm.com

Required disclosures

Non-U.S. analyst disclosure

One or more research analysts involved in the preparation of this report (i) may not be registered/qualified as research analysts

with the NYSE and/or FINRA and (ii) may not be associated persons of the RBC Capital Markets, LLC and therefore may not be

subject to FINRA Rule 2241 restrictions on communications with a subject company, public appearances and trading securities

held by a research analyst account.

Conflicts disclosures

The analyst(s) responsible for preparing this research report received compensation that is based upon various factors, including

total revenues of the member companies of RBC Capital Markets and its affiliates, a portion of which are or have been generated

by investment banking activities of the member companies of RBC Capital Markets and its affiliates.

With regard to the MAR investment recommendation requirements in relation to relevant securities, a member company of Royal

Bank of Canada, together with its affiliates, may have a net long or short financial interest in excess of 0.5% of the total issued

share capital of the entities mentioned in the investment recommendation. Information relating to this is available upon request

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Please note that current conflicts disclosures may differ from those as of the publication date on, and as set forth in,

this report.

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