Ucore Rare Metals Inc Stock Price, News & Analysis

Ucore Rare Metals (TSXV: UCU) (OTCQX: UURAF) has announced two significant corporate updates. First, the company plans to extend the term of 7,055,795 common share purchase warrants by 12 months, moving the expiry date to December 22, 2025. These warrants, originally issued in December 2022, maintain their $0.85 strike price. Of these warrants, 1,785,000 are held by Orca Holdings, , owned by board member Randy Johnson.

Additionally, Ucore has entered into a six-month marketing agreement with Outside the Box Capital Inc. (OTBC) for $150,000. OTBC will provide marketing consulting and investor relations services, focusing on social media channels and online media distribution. The agreement runs until April 28, 2025, and requires TSX Venture Exchange approval.

Ucore Rare Metals has completed a non-brokered private placement, raising $2,401,665 through the issuance of 4,803,329 units at $0.50 per unit. Each unit includes one common share and half a warrant, with each full warrant exercisable at $0.75 for 24 months. The proceeds will fund feedstock agreements, customer offtake agreements, and engineering plans for the Strategic Metals Complex in Louisiana, along with debt servicing and working capital. Insiders Pat Ryan and Orca Holdings purchased 2,856,330 units for $1,428,165. The offering is subject to TSXV final approval, with securities having a four-month hold period.

Ucore Rare Metals announces a non-brokered private placement offering of 4,803,329 units at $0.50 per unit, aiming to raise $2,401,665. Each unit includes one common share and half a warrant, with each full warrant exercisable at $0.75 for 24 months. Insiders will purchase 2,856,330 units for $1,428,165. The proceeds will fund feedstock agreements, customer offtake agreements, engineering plans for the Strategic Metals Complex in Louisiana, debt servicing, and working capital. The offering, subject to TSXV approval, is expected to close around November 14, 2024.

Ucore Rare Metals reports 60% completion of objectives in its US$4 million Department of Defense (DoD) project at its Kingston, Ontario Commercialization and Demonstration Facility. The company's 52-Stage RapidSX™ Demonstration Plant has achieved significant milestones, including processing over 3 tonnes of rare earth elements and producing over 57,000 liters of rare earth chloride solutions. The project demonstrates that RapidSX™ technology performs equal to or better than conventional separation methods, supporting its planned implementation at the Louisiana Strategic Metals Complex. The company has conducted approximately thirty facility tours with various stakeholders, leading to preliminary agreements for supply and offtake arrangements.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has provided an update on the commercialization of its RapidSX™ rare earth separation technology. The company is demonstrating the technology at its Commercialization and Demonstration Facility (CDF) in Kingston, Ontario, while also trialing ancillary systems for its future Louisiana Strategic Metals Complex (SMC). Key developments include:

1. Processing mixed rare earth oxide and carbonate feedstocks
2. Developing ancillary processing systems
3. Conducting product qualification for potential Western partners
4. Operating a 52-stage RapidSX™ Demonstration Plant
5. Designing and testing various processes, including cerium depletion and yttrium removal
6. Producing rare earth oxides for end-user qualifications

These advancements position Ucore as a potential first mover in Western commercial heavy rare earth processing, aiming to disrupt China's control of the North American REE supply chain.

ABx Group (ASX: ABX) and Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) have signed a Memorandum of Understanding (MOU) on September 3, 2024, to establish an Australia-USA rare earths supply chain. The key objectives include:

1. Working towards a binding offtake agreement for ABx to supply mixed rare earth carbonates (MREC) to Ucore
2. Exploring Ucore's investment opportunity in ABx's rare earths project in Tasmania
3. Strengthening US-Australia relations in critical minerals and clean energy projects

The MOU aims for Ucore to obtain 'first right of refusal' for 50% of ABx's annual volume for a minimum of five years. Both companies will collaborate on product flowsheet optimization, project development strategies, and share information on global rare earth markets.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has made several corporate updates. The company has granted 965,000 stock options to directors, officers, employees, and consultants, exercisable at $0.70 per share with a five-year expiry. Additionally, 960,000 restricted share units were granted to officers and employees, vesting over three years.

Ucore has also amended the terms of 1,145 convertible debentures originally issued in May 2020. The maturity date has been extended to January 31, 2026, and the conversion price reduced from $1.20 to $0.90 per unit. The warrant exercise price associated with these debentures has been adjusted from $1.80 to $1.30 per Common Share.

Ucore Rare Metals and Meteoric Resources have signed an MOU for the supply of 3,000 metric tonnes of total rare earth oxide (TREO) from Meteoric's Caldeira Project in Brazil to Ucore's developing Louisiana Strategic Metals Complex (SMC) in the USA. The agreement focuses on rare earth elements important for magnet production, including terbium, dysprosium, neodymium, and praseodymium.

Key points of the MOU include:

• Potential supply of over 900MT of NdPr, 6MT of Tb, and 24MT of Dy annually
• Ucore's REO production in Louisiana expected to start commissioning by Q4-2025
• Meteoric aims to commence MREC production in the second half of 2027
• Both parties will support each other in funding and business development

This partnership aims to establish a Western rare earth supply chain, leveraging Brazil's proximity to the Port of New Orleans for efficient logistics to Ucore's Alexandria facility.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has announced a memorandum of understanding (MOU) with Cyclic Materials for the future supply of recycled mixed rare earth oxide (rMREO). The collaboration aims to:

1. Support Ucore's rare earth demonstration program at its RapidSX™ Commercialization and Demonstration Facility in Kingston, Ontario.
2. Establish a long-term source for Ucore's developing commercial rare earth element separation and oxide production plants in North America.

The project received $4.28 million in funding from Natural Resources Canada's Critical Minerals Research, Development and Demonstration Program. Both companies view this partnership as a step towards reducing North America's dependence on foreign rare earth supply chains.