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UURAF
Ucore Rare Metals Inc (QX)
0.4835
0.0054 (1.13%)
Volume: 23,996
Day Range: 0.46 - 0.49
Bid: 0.42
Ask: 0.49
Last Trade Time: 3:28:38 PM EDT
Total Trades: 14
UURAF Detailed Quote
News out
Ucore Comments on Uranium and Recent External Interest in Ucore's Ross-Adams Uranium Mine Property
V.UCU | 1 hour ago
Halifax, Nova Scotia--(Newsfile Corp. - June 8, 2022) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to comment on the recent increasing interest in uranium as an energy source and also current interest in Ucore's not-often-mentioned Ross-Adams mine property (the "Mine"), a former producing uranium mine located on the Ross-Adams portion of Ucore's Alaskan mineral property (the "Property"). The Property is located on Prince of Wales Island, approximately 38 miles southwest of Ketchikan, Alaska, USA, near the west arm of Kendrick Bay (within the Bokan Mountain Complex). At its closest point, the edge of the former Mine is located more than 500 m from Ucore's Bokan-Dotson Ridge Zone, which is Ucore's rare earth elements ("REEs") advanced property mineral resource as described in the Company's technical report (a preliminary economic assessment ("PEA")) that was filed on SEDAR on March 14, 2013.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/1119/126852_a54972a334497aa2_001.jpg
Figure 1 - Ucore's Federal & State Mining Claims at the Bokan Mountain Complex
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1119/126852_a54972a334497aa2_001full.jpg
Historical uranium production occurred at the Mine from 1957 until 1971, with an estimated total of 1.3 million lbs of U3O8 produced. Although Ucore has performed no work at the Mine to date, the Company believes the Ross-Adams Zone may have the potential for the re-activation of mining production for uranium due to: (i) the recent price increases for uranium; (ii) geopolitical concerns regarding the security of supply chains and an emphasis on US domestic and allied sources of critical materials; and (iii) a recent increase in the public's perception that uranium and nuclear power can represent an excellent strategic choice for energy production in the present and coming decades as compared to fossil fuels. As a result of this recent interest in uranium, Ucore has been fielding unsolicited enquires with respect to the former Ross-Adams Mine.
Nevertheless, Ucore remains committed to its current business plan -- the development of an independent and comprehensive North American REE supply chain. This plan was recently detailed in the Company's press release dated January 20, 2022. The Company's business plan currently prioritizes the commercialization of Innovation Metals Corp.'s ("IMC") RapidSX™ REE separation technology and the development of the first modern commercial-scale rare earth separation plant in North America, the Strategic Metals Complex ("SMC"). The advancement of this REE supply chain remains Ucore's primary objective.
However, due to the recent enquiries about the status and availability of Ucore's uranium asset, the Company is pleased to provide the following information regarding its Ross-Adams property. Although Ucore will continue to consider potential transactions with respect to the former Mine, when Ucore is reviewing such proposals, the Company will be prioritizing: (i) its own REE business plan; (ii) ESG (Environmental, Social, and Governance) objectives; and (iii) the Company's stakeholders, including the United States Forest Service ("USFS"), the State of Alaska, Alaska Natives, Alaska residents, the Alaska Industrial Development and Export Authority ("AIDEA"), and the Company's shareholders.
The Nature of Ucore's Interest in the Property
Ucore acquired the Property pursuant to a series of option and purchase agreements, together with Ucore's own mineral-claim staking activities in 2006 and 2007. Due to recent inbound enquiries, the Company is exploring the possibility of a transaction involving only the Ross-Adams Zone,leaving the Company's Bokan-Dotson Ridge Heavy REE Project intact and the approximately seven other historical mineralization zones unaffected.
The History of the Mine
The Ross-Adams uranium deposit was discovered in 1955 by prospectors Don Ross and Kelly Adams using airborne radiometrics. According to US Bureau of Mines records[ii], a total of 1.3 million pounds of uranium were produced at an average grade of 0.76% U3O8 during three separate production periods between 1957 and 1971 as follows:
Year
Operator Tons
Mined Grade % of
U3O8 lbs of U3O8
Produced
1957
Climax Molybdenum 15,000 1.05 315,000
1959-64
Standard Metals 15,000 1.0 300,000
1971
Newmont Exploration 55,600 0.62 687,000
Total/Weighted Average: 85,600 0.76 1,302,000
Table 1 - Historical Activity at the Former Ross-Adams Uranium Mine
The cut-off grade has been reported at 0.5% U3O8. Production was terminated each time when sales contracts with the US Atomic Energy Commission were fulfilled. Uranium ore from the Mine was mined from a steeply dipping pipe-like body of uranium with a combination of a small open pit mine (which looks like a trench) and an underground mine with two underground levels. While the uranium pipe (or vein) is known to extend below the lowest production level, the pipe has not yet been fully geologically explored in detail. The Ross-Adams deposit is interpreted by Ucore to remain open at depth.
The Property is located adjacent to deep water access. As a result, during the past operation of the Mine, no processing of the uranium ore into U3O8 took place on the Bokan Mountain property. Rather, the uranium ore from the Mine was shipped by barge for beneficiation and processing off-site at several locations in Spokane, Washington and Mexican Hat, Utah, USA. As a result, there is no former tailings facility on the Property.
However, some important environmental reclamation work is required on the Property. This is limited to the consolidation of some mine rock on the surface and any remaining previously mined material that exists in secondary transit areas. The environmental remediation plan involves depositing those materials into an on-site repository in the open pit portion of the Mine. In 2020, an agreement was reached between the United States Forest Service ("USFS"), Newmont USA Limited ("Newmont") and Dawn Mining Company ("Dawn") regarding this required environmental clean-up of the Property. Newmont and Dawn (who had past interests in the Mine) have assumed responsibility for the USD$7-million on-site environmental reclamation project and are currently coordinating this work through the USFS. Other remnants of past mining operations will also be removed by Newmont and Dawn.
Ucore has performed no exploration or development work at the Ross-Adams Zone. The Company's mineral exploration and development work to date has primarily involved Ucore's Bokan-Dotson Ridge Zone, which comprises the entirety of Ucore's REE mineral resource at the Bokan Mountain Complex. The Company does not have any current mineral resources or mineral reserves regarding uranium at the Ross-Adams Zone. The Company has not published any historical estimates regarding the mineral resources or mineral reserves that may be available at the former Mine.
# # #
Qualified Person
Ronald James (Jim) Robinson, B.Sc., P.Geo., an independent geologist and General Manager of Aurora Geosciences (Alaska) Ltd. of Juneau, Alaska, has prepared, reviewed and approved the technical data in this news release. He is the qualified person responsible for accurately summarizing this data from historic technical and production reports.
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has an effective 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska, USA. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, Ucore's vision includes disrupting the People's Republic of China's control of the US REE supply chain through the near-term development of a heavy and light rare-earth processing facility - the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore's heavy-rare-earth-element mineral-resource property located at Bokan Mountain on Prince of Wales Island, Alaska.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
Ucore Rare Metals In (UURAF)
0.6567 ? 0.0255 (4.04%)
Volume: 69,609 @06/03/22 3:41:42 PM EDT
Bid Ask Day's Range
0.6299 0.6728 0.59213 - 0.6567
UURAF Detailed Quote
Also watching~~~~marked you , hit me back , thanks
Partnering with Ucore in USA.
Vital Metals Limited
Canada’s first rare earths producer Vital Metals Limited (ASX: VML l OTCQB: VTMXF) (“Vital”, “Vital Metals” or “the Company”) is pleased to share its company presentation for May 2022.
To get the link go to:
https://mailchi.mp/c175da8cfd2c/march-2022-quarterly-activities-and-cash-flow-report-11795312?e=080567558f
Ucore Mobilizes Geological Crew to Bokan Mountain as Prices for Heavy Rare Earth Oxides Continue to Rise
- Ucore's subcontracted geological team, Aurora Geosciences Ltd., is mobilizing for deployment to the Bokan Mountain Complex during the week of May 9, 2022, for Ucore's Summer 2022 Resource Upgrade Program, a program intended to:
- Upgrade the Bokan-Dotson Ridge Zone Mineral Resource estimate from the current ˜18% Indicated and ˜82% Inferred classifications to include a ˜17% to 20% Measured classification later in 2022 by:
- Obtaining ˜50 additional channel samples along the ˜2 km exposed vein outcroppings
- Extracting ˜50 tonnes of supplementary mineralized material from two new bulk sample locations for planned mill flowsheet pilot-scale testing
- The Bokan-Dotson Ridge Zone is enriched with heavy rare earth elements, including terbium and dysprosium, the two heavy rare earth elements associated with electric vehicle permanent magnet synchronous motors.
Halifax, Nova Scotia (May 10, 2022) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the planned mobilization of a geological crew to conduct Ucore's Summer 2022 fieldwork program (the "Program") at the Company's Bokan-Dotson Ridge Zone mineral deposit ("Bokan" or "Bokan Project") on Prince of Wales Island, Alaska, USA. The Program is a continuation of Ucore's 2007, 2008, 2009, 2010, 2011 & 2014 Bokan Mountain Complex exploration drill programs and is being undertaken by Aurora Geosciences (Alaska) Ltd. ("AGL" or "Aurora") of Juneau, Alaska. The Program is designed to improve the geological confidence of the mineral deposit in preparation for a forthcoming planned pre-feasibility study ("PFS"), as the rare earth oxide ("REO") market continues its favourable response to the increased electrification demands related to the electric vehicle ("EV") and renewable energy sectors.
Ucore Announces Successful Independent Expert Evaluation of RapidSX Rare Earth Separation Technology
Halifax, Nova Scotia (April 27, 2022) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company”) is pleased to report the positive conclusions of a multi-phase, independent, third-party technical review of RapidSX™ technology (the “Independent Evaluation” or the “Evaluation”) prepared by Dr. Ahmad Ghahreman of AG Hydrometallurgy Services Inc. (“AGHS“) as a noted subject-matter-expert1. With a focus on the technical assuredness, benefits, and scalability of the RapidSX™ technology specifically for the separation of rare earth elements (“REEs“) for the production of commercial-grade rare earth oxides (“REOs“), the Independent Evaluation concludes the following:
RapidSX™ is capable of separating both light and heavy REEs for producing high-quality REOs and uses the same chemistry as proven conventional solvent extraction (“CSX“) processes but with faster kinetics; thus, no chemistry risk at scale-up;
RapidSX™ process shows itself to likely be 3 times as efficient as CSX, concluding a production plant can potentially have a 2/3 smaller footprint than a CSX plant of the same capacity with an associated separation process capital cost (“CAPEX“) reduction of 50% or better;
RapidSX™ for the separation and purification of REEs is dependent on its chemistry (same as CSX) and, given a smaller footprint for the same throughput, should have an expected operating cost (“OPEX“) of 20% less than CSX for the same purpose; and
RapidSX™ is a modular process making it scalable with minimal risk. The process can be designed to process REEs in the range of 1,000 to 10,000+ tonnes per annum.
Read more at:
https://ucore.com/ucore-announces-successful-independent-expert-evaluation-of-rapidsx-rare-earth-separation-technology/
Breaking News: #InvestorIntel to introduce its own #Metaverse platform for companies at #PDAC --click here to watch
Also, you will not want to miss one of the few people on the planet who has taken an exploration company to production in the rare earths sector...join us.
Tuesday, May 10th from 9-920 AM EST, Join InvestorTalk.com with with Geoff Atkins from Vital Metals Ltd. (ASX: VML | OTCQB: VTMXF)
Join Zoom Meeting --- CLICK HERE
https://us02web.zoom.us/j/84257371784?pwd=Mm1HakFOMnB5MjlQWEpyNmJkSzVMUT09
For any questions, please do not hesitate to reach me at +1 416 792 8228 or dial me directly at 647 289 7714.
Enjoy your evening!
__
Tracy Weslosky
InvestorIntel Corp.
@TracyWeslosky
We getting noticed !!!
New Article in Mining mag
https://www.miningmagazine.com/design-build/news/1431013/ucore-receives-external-evaluation-on-separation-tech
That's a good article thanks.
UURAF volume picking up 80,296
SP moving up also now .7120
jmho
Ucore Announces Successful Independent Expert Evaluation of RapidSX Rare Earth Separation Technology
Halifax, Nova Scotia (April 27, 2022) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company”) is pleased to report the positive conclusions of a multi-phase, independent, third-party technical review of RapidSX™ technology (the “Independent Evaluation” or the “Evaluation”) prepared by Dr. Ahmad Ghahreman of AG Hydrometallurgy Services Inc. (“AGHS“) as a noted subject-matter-expert1. With a focus on the technical assuredness, benefits, and scalability of the RapidSX™ technology specifically for the separation of rare earth elements (“REEs“) for the production of commercial-grade rare earth oxides (“REOs“), the Independent Evaluation concludes the following:
- RapidSX™ is capable of separating both light and heavy REEs for producing high-quality REOs and uses the same chemistry as proven conventional solvent extraction (“CSX“) processes but with faster kinetics; thus, no chemistry risk at scale-up;
- RapidSX™ process shows itself to likely be 3 times as efficient as CSX, concluding a production plant can potentially have a 2/3 smaller footprint than a CSX plant of the same capacity with an associated separation process capital cost (“CAPEX“) reduction of 50% or better;
- RapidSX™ for the separation and purification of REEs is dependent on its chemistry (same as CSX) and, given a smaller footprint for the same throughput, should have an expected operating cost (“OPEX“) of 20% less than CSX for the same purpose; and
- RapidSX™ is a modular process making it scalable with minimal risk. The process can be designed to process REEs in the range of 1,000 to 10,000+ tonnes per annum.
Read More at:
https://ucore.com/ucore-announces-successful-independent-expert-evaluation-of-rapidsx-rare-earth-separation-technology/
I'll keep my eye on this one. I do best with lithium. Every time I step off my turf, I get hit.
But That was good numbers on that post. Mick likes the rare earths. I am sure that is how I got here.
I do know Elon once said in an interview he is working on a motor that does not need rare earth magnets. He said it with a big grin.
China’s stranglehold of the rare earths supply chain will last another decade
https://www.army-technology.com/analysis/china-rare-earths-dominance-mining/ $UURAF
Chinese rare earth consolidation a cause for concern
https://www.eastasiaforum.org/2022/03/30/chinese-rare-earth-consolidation-a-cause-for-concern/ $UURAF
Ucore targets to fill the processing gap in a Western rare earths supply chain by 2024
https://investorintel.com/markets/technology-metals/technology-metals-intel/ucore-targets-to-fill-the-processing-gap-in-a-western-rare-earths-supply-chain-by-2024/ $UURAF
India is a rich source of rare earths, but still imports. US collaboration can help change that
https://theprint.in/opinion/india-rich-source-of-rare-earths-but-still-imports-us-can-help/931113/ $UURAF
$UURAF "Ucore's May 2020 acquisition of IMC and RapidSX was a transformative decision for the Company," stated Ucore Chairman and CEO Pat Ryan. "The RapidSX technology platform uniquely positions Ucore to compete with the world in the most difficult aspect of the rare earth supply chain - the separation of REEs into high-purity individual REOs. And to do so in an efficient and environmentally friendly manner based on industry-established and well-proven chemistry. I am very proud of the team we have assembled to enable this transition to commercialization, and we look forward to delivering for our shareholders and for North America." https://ucore.com/ucore-streamlines-the-management-and-technical-teams-for-the-commercial-deployment-of-rapidsx-technology/
nice entry $UURAF
First Vital Metals and now thyssenkrupp Materials...
https://ucore.com/ucore-and-thyssenkrupp-materials-trading-execute-feedstock-supply-mou-for-the-alaska-smc/
thank you nice repore' my friend $UURAF
Marked you hit me back many thank yous $UURAF
GETTING IN THIS MORNING , I'VE BEEN TO THIS MINE DEER HUNTING ABOUT 10 YEARS AGO . GAVE YOU A FOLLOW/HIT ME BACK MANY THANK YOUS $UURAF
China’s dominance of rare earths supply is a growing concern in the West
https://scmp.com/news/china/diplomacy/article/3130990/chinas-dominance-rare-earths-supply-growing-concern-west
When China announced the creation of a new state-owned enterprise China Rare Earth Group in January 2022, it caused tremors. The new 'megafirm' will control 60–70 per cent of Chinese rare earth production, which translates to 30–40 per cent of global supply. https://www.eastasiaforum.org/2022/03/30/chinese-rare-earth-consolidation-a-cause-for-concern/#:~:text=When%20China%20announced%20the%20creation,per%20cent%20of%20global%20supply. $UURAF
$UURAF Ucore and thyssenkrupp Materials Trading Execute Feedstock Supply MOU for the Alaska SMC
It looks like the US has its big brains working on it,
https://www.energy.gov/eere/geothermal/american-made-geothermal-lithium-extraction-prize-phase-1-awards It would be nice if UURAF could adapt to lithium extraction.
Anyone deeply familiar with the Ucore process of extracting REE? If so, any chance this technology could be used to extract Lithium from geothermal brine? Apparently the Salton Sea Geothermal plant could potentially produce more Lithium than the US is currently using.
https://newscenter.lbl.gov/2021/11/29/sizing-up-the-challenges-in-extracting-lithium-from-geothermal-brine/
Ucore Rare Metals In (UURAF)
0.66 ? -0.004 (-0.60%)
Volume: 22,221 @03/11/22 3:53:15 PM EST
Bid Ask Day's Range
0.6405 0.66 0.65 - 0.699
UURAF Detailed Quote
Ucore Rare Metals In (UURAF)
0.77 ? -0.0152 (-1.94%)
Volume: 50,216 @02/04/22 3:48:37 PM EST
Bid Ask Day's Range
0.75 0.7767 0.75 - 0.7795
UURAF Detailed Quote
Ucore Recaps its 2021 Rare Earth Supply Chain Groundwork
Accomplishments and Outlines Direction for 2022
Read at:
https://ucore.com/ucore-recaps-its-2021-rare-earth-supply-chain-groundwork-accomplishments-and-outlines-direction-for-2022/
Jan 21, 2022
Ucore’s Pat Ryan on creating a modern rare earths’ industrial processing company in North America
For video link:
https://investorintel.com/investorintel-video/pat-ryan-and-jack-lifton-discuss-the-business-plan-for-ucore-rare-metals-inc/?utm_source=rss&utm_medium=rss&utm_campaign=pat-ryan-and-jack-lifton-discuss-the-business-plan-for-ucore-rare-metals-inc
UCU moving up in Canada today with volume
must be good news somewhere
jmho
Jack Lifton, Byron King and Vital Metals’ Geoff Atkins on the global rare earths market
View interview at:
https://investorintel.com/investorintel-video/jack-lifton-byron-king-and-vital-metals-geoff-atkins-on-the-global-rare-earths-market/?utm_source=rss&utm_medium=rss&utm_campaign=jack-lifton-byron-king-and-vital-metals-geoff-atkins-on-the-global-rare-earths-market
Ucore Provides Update on the Commercialization of IMC’s RapidSX Rare-Earth-Elements Separation Technology
Read at:
https://ucore.com/ucore-provides-update-on-the-commercialization-of-imcs-rapidsx-rare-earth-elements-separation-technology/
i am adding now (SS unchanged for 9 months btw)
USFS Issues Authorization for Ucore’s Bokan-Dotson Ridge Sampling Program
• Ucore conducted Bokan field mapping work in September 2021
• Ucore to conduct the Bokan channel and bulk sampling program during the Summer 2022 field season
• All required state and federal permits are now in hand for the Summer 2022 field season
Halifax, Nova Scotia (November 17, 2021) – Ucore Rare Metals Inc. (TSXV:UCU) (OTCQX:UURAF) (“Ucore” or the “Company”) is pleased to announce that on November 10, 2021, the United States Department of Agriculture’s Forest Service (the “USFS”) issued a 1-year authorization for Ucore to commence with the Dotson Ridge 2021 Surface Exploration Project Plan of Operations (the “Project”). The Company has elected to conduct the sampling work during next summer’s field season and now has all required state and federal Project permits for this work.
On May 12, 2021, Ucore announced the Project to upgrade its Bokan-Dotson Ridge heavy rare earth element (“HREE”) mineral resource, disclosed in accordance with National Instrument 43-101 (“NI 43-101”), with a budget of approximately $400,000. The Project is expected to result in converting approximately 17-20% of the mineral resource to a new Measured mineral resource category; with over 90% of the new Measured material being drawn from currently Indicated mineral resource material and 10% from currently Inferred mineral resource material. This will be accomplished through the execution of approximately 50 additional channel samplings along the ˜2 km of exposed vein outcroppings of the Dotson Ridge Zone. Secondly, the Company will conduct bulk sampling activities to obtain ˜50 tonnes of additional mineralized material to facilitate prospective pilot-scale testing of its metallurgical recovery methods currently under laboratory-scale finalization at SGS Canada’s Lakefield facility.
Read at:
https://ucore.com/usfs-issues-authorization-for-ucores-bokan-dotson-ridge-sampling-program/
Ucore Rare Metals In (UURAF)
0.6906 ? -0.0194 (-2.73%)
Volume: 13,673 @11/05/21 3:29:11 PM EDT
Bid Ask Day's Range
0.67 0.72 0.69 - 0.7219
UURAF Detailed Quote
Hey MB.. I'm not interested in Vital, but Ucore here at .71/share is "interesting". I stayed away all during the reverse split. Now...things are falling into place & with only @ 50 million shares now outstanding this might have some legs...
I think Ucore building out a U.S. based separation facility using their RapidSX technology is coming at the right time/right place. Their "Mine" is another story for me.
Watching....haven't pulled the trigger yet MB.
Chico
Chico237,Douginil; If you own UURAF and VML is supplying their feedstocks you don't quite own the stock but your Canadian Traded company at least benefits from their mining activity.
I looked at ASX: VML in the past, but its a pain purchasing stocks on the ASX. My brokerage charges a $50 fee for the currancy exchange and you are sleeping when they are trading.
From that experience it would be more efficent to own UURAF. (Which I did for a long time before moving the money into one a couple of other jr. Miners that you both know.)
Thanks for posting Doug!...
Ucore has it's first customer/stable supplier in the wings!
Just taking a peak at Vitals projects....
3 World Class Projects
• Nechalacho REO Project (Canada): 95Mt at 1.46% TREO
• Kipawa (Canada)*
: Reserve 19.7 Mt at 0.41% TREO *
• Wigu Hill (Tanzania)*
: 3.3Mt at 2.6% TREO *
We should have an idea where another one of our REE ventures stacks up soon ! lol
The supply chains are forming!!
Chico
Vital Metals Limited Investor Presentation
Oct 20, 2021
Vital Metals Limited (ASX: VML) (“Vital Metals” or “the Company”) is pleased to provide an updated Investor Presentation delivered as part of online conference “North American Critical Minerals Days”.
Read and get link to the presentation at:
https://mailchi.mp/3e81f3a10d2f/vital-metals-june-2021-quarterly-report-9815825?e=080567558f
Ucore and Vital Metals Execute Feedstock Supply MOU for the Alaska SMC
Oct 19, 2021
Highlights
- Ucore is developing the Alaska SMC for the processing of rare earth elements in Southeast Alaska
- Vital Metals is producing rare earth concentrate from its Nechalacho rare earth project in NWT, Canada
- Vital Metals is constructing a Rare Earth Extraction Plant to produce a mixed rare earth chemical concentrate in Saskatoon, Saskatchewan from the Nechalacho deposit
- The Alaska SMC is planned to commence production of up to 2000 tonnes per annum (tpa) of individual rare earth oxides from US-allied feedstock by H1-2024
- Vital Metals is expected to commence the supply of a minimum of 500 tpa of a cerium depleted concentrate to Ucore in 2024; expandable to over 2,500 tpa by 2026
HALIFAX, NOVA SCOTIA — October 19, 2021 — Ucore Rare Metals Inc. (“Ucore” or the “Company”) (TSXV:UCU) (OTCQX:UURAF) is pleased to announce the execution of a MEMORANDUM OF UNDERSTANDING (“MOU”) setting forth certain nonbinding understandings and binding agreements between Ucore and Vital Metals Limited (ASX:VML) (“Vital Metals” or “Vital”) (collectively the “Parties”). The MOU is the first step towards the establishment of a long-term supply agreement for the delivery of mixed rare earth chemical concentrate (“MREC”) from Vital Metals’ Nechalacho project to Ucore’s planned Alaska Strategic Metals Complex (“Alasks SMC”) in Ketchikan, Alaska. The MREC will be shipped from Vital’s Saskatoon, Saskatchewan, Rare Earth Extraction Plant which is expected to enter into production in 2022.
Vital Metals is Canada’s first – and North America’s second – rare earths producer, with production underway at their Nechalacho mine in the Northwest Territories, Canada. Vital aims to produce a minimum 5,000 tonnes of contained rare earth oxides (“REO”) at Nechalacho by 2025. Mining at Nechalacho’s North T Zone is underway as part of Vital Metals’ Stage 1 production strategy. They are now crushing and sorting ore before it is sent to their Saskatoon cracking and leaching facility (the Rare Earth Extraction Plant) later in 2021. Vital has commenced drilling to define a mine plan for Stage 2 at Nechalacho as it works to develop a larger scale, longer life rare earths project.
Vital aims to become the lowest cost producer of mixed rare earth oxide outside of China by developing one of the highest grade rare earth deposits in the world and the only rare earth project capable of beneficiation solely by ore sorting. Vital Metals other projects include the high-grade Wigu Hill rare earth resource in Tanzania and the recently acquired Kipawa and Zeus heavy rare earth projects in Quebec, Canada.
Read more at:
https://ucore.com/ucore-and-vital-metals-execute-feedstock-supply-mou-for-the-alaska-smc/
Hmmmmm
If I read the detail it is mostly LREEs no mention of HREEs and they have a 5 year off-take signed.
A lot of Board & Management experience with Lynas Mt. Weld, Malasia plant & REEs
Vital, Search, Appia the race is on!
Whoa....so big that the company requested a trading hold to ensure orderly trading after news is consumed
Vital Metals (ASX:VML) strikes rare earths supply deal with Ucore
https://themarketherald.com.au/vital-metals-asxvml-strikes-rare-earths-supply-deal-with-ucore-2021-10-19/
HINT HINT
Watch Cramer tonight at 6:00 on CNBC
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Ucore Rare Metals, Inc.
$UURAF
Over the past quarter century, an emerging class of metals has grown exponentially in demand as a byproduct of the Technological Revolution. That group, known as the Rare Earths Elements (and variously referred to as Specialty or Technology Metals), has become the backbone of innovation in the fields of clean energy, consumer electronics, computer applications, health care technologies and much more. Today, a great deal of what we refer to as the modern technology would be all but impossible without the Rare Earths Elements and their associated oxides and concentrates.
.
Rare Earths include the unique elemental suite known as the Rare Earths Elements (REE’s) and a select group of specialty metals produced primarily for technology applications. At Ucore, our focus is on Heavy REE’s (a class of REE’s known for their high value relative to other REE’s) and collateral metals often found in concert with REE deposits. Collectively, this group represents a resource sub-sector experiencing unprecedented growth in global demand, combined with critical issues of near term supply and a correspondingly high potential for return on investment.
.
• Highest Grade Heavy Rare Earth Deposit in U.S. (NI-43-101 Compliant)
• Excellent Logistics: Only REE Deposit Worldwide on Immediate Deep Water Access; Accessible Labour and Prospective Power
• Anomalous Skew Towards Dy, Tb, Y; Among the most Critical High Demand HREE’s
• Located in Alaska; Among the World’s Leading Mine Friendly Jurisdictions
• Advanced Metallurgy and Separation Regimes Already Established
• Excellent Geopolitical Support (Local; State; Federal)
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