Investor.News is pleased to announce an upcoming InvestorTalk scheduled for tomorrow, Wednesday, February 26th, at 9 AM EST, featuring Pat Ryan, CEO and Chairman of Ucore Rare Metals Inc. (TSXV: UCU | OTCQX: UURAF). To participate in this engaging discussion, please click here
Ucore focuses on rare- and critical-metal resources, extraction, and separation technologies. Its vision is to become a leading advanced technology company, offering best-in-class metal separation products and services to the mining and mineral extraction industry. Through strategic partnerships, Ucore aims to disrupt China’s control of the North American REE supply chain by establishing a near-term heavy and light rare-earth processing facility in Louisiana, followed by additional facilities in Canada and Alaska, and ultimately developing its Bokan-Dotson Ridge Rare Heavy REE Project in Southeast Alaska.
In preparation for tomorrow’s InvestorTalk, here are the four most recent news releases from Ucore for your review, which are listed below:
- January 31, 2025 – Ucore Accepts $2M Investment from Hondo Private Equity LLC — click here
- January 21, 2025 – Ucore Awarded Funding by Ontario Critical Minerals Innovation Fund — click here
- December 13, 2024 – Ucore Rare Metals: US DoD Approves US$1.8 Million Payment — click here
- December 4, 2024 – Ucore Secures Strategic Advantage with Louisiana Foreign Trade Zone Amid Proposed U.S. Trade Policies — click here
We found the December 13th news release titled, “Ucore Rare Metals: US DoD Approves US$1.8 Million Payment” particularly noteworthy and here are 5 key data points from it:
- Financial Approval and Milestone Achievement: The US Department of Defense (DoD) has approved a payment of US$1.8 million to Ucore Rare Metals Inc. This payment is part of an existing Other Transaction Agreement (OT Agreement) and recognizes the completion of specific milestones under this agreement.
- Technology and Facility Development: The awarded funds relate to the work being done at Ucore’s RapidSX™ Commercial Demonstration Facility in Kingston, Ontario. This facility, operated by Ucore’s wholly owned subsidiary, Innovation Metals Corp., is focused on separating rare earth elements (REEs).
- Scope of the OT Agreement: Originally, Ucore was granted a US$4 million OT Agreement by the DoD to demonstrate the commercial viability of its RapidSX™ separation technology. The agreement’s objectives include developing a sustainable processing facility in North America for converting rare earth feedstocks into salable products.
- Project Progress and Technical Operations: The modifications to the OT Agreement align the payment milestones with the project’s commercial goals. Notable achievements include over 2,600 hours of operation at the demonstration plant in a commercial-like environment and thousands of hours in conventional solvent extraction pilot operations for comparative analysis.
- Future Plans and Strategic Importance: The news release also highlights the broader strategic context, such as the 2024 National Defense Authorization Act, which mandates a ban on importing rare earth products from China for the National Defense Industry, effective from January 2027. Ucore’s ongoing project with the DoD on heavy REEs will continue into the first half of 2025, followed by a transition to a light REE demonstration project supported by the Government of Canada.
For more information on Ucore Rare Metals Inc., click here
For more information on the InvestorTalk pre-market series, go to InvestorTalk.com.
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