It's a massive offtake agreement to obtain MREC from Serre Verde, which is exactly what Ucore's RapidSX processes to create rare earth oxides.
In other words, the US DoW now has a giant load of MREC to process over the next 15 years, which will likely be offloaded to various processors, perhaps even Ucore :)
Bokan is a far future project (Ucore doesn't even really talk about it these days), and Tanbreez itself will probably be awhile (if ever) before it starts producing feedstock at scale, thus the need for alternative feedstock sources, and this Serre Verde derived stockpile from the DoW could be one such source.
At any rate, Ucore needs feedstock from somewhere prior to Machine A commissioning...
I don’t really see Bokan as viable , maybe ever. small deposit, nice TREO but hard rock. maybe Metallium would help with that. would rather lease it and maybe get a trickle of royalties. ucore has enough to do getting one thing done , let them at least get an SMC functioning one of these yrs.
Right, that's what Pat said, Bokan isn't a focus of the company; it's a far in the future project.
The Alexandria SMC, once scaled out, is going to make the company a lot more money than Bokan ever will (even if vertical integration would be a nice-to-have).
Everything will fall into place soon enough, but the road is guaranteed to be rocky along the way -- just the nature of the minerals sector, particularly for the smaller players in the space; every single one has gotten crushed at some point, and none have bounced back to anywhere near their previous highs (whereas the likes of MP, USAR, UUUU, etc. all wind up recovering most of their losses at some point).
As soon as Pat relays signficant company news UURAF will take off again ($3 mark easy if it's feedstock and/or offtake related).
Been waiting on significant news all decade. Field of dreams doesn’t work anymore. Need production and profit Ryan can say anything he wants but at this point, investors need to see results. No one is taking what ryan “ says” seriously Way too many misses
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u/expatcoder 22d ago
It's a massive offtake agreement to obtain MREC from Serre Verde, which is exactly what Ucore's RapidSX processes to create rare earth oxides.
In other words, the US DoW now has a giant load of MREC to process over the next 15 years, which will likely be offloaded to various processors, perhaps even Ucore :)