Mentioned:
There’s a new rare earth company on Wall Street. And they are looking to find the next big deposit of heavy rare earth elements in the United States and Brazil.
What’s happening:
- Rare Earths Americas (NYSE: REA) has successfully raised $63.3M USD in their IPO financing round and began trading on the New York Stock Exchange
By the numbers:
- Rare Earths Americas issued roughly 3.3M common shares at a price of $19.00 USD per share as part of the IPO financing round
Why it matters:
- Rare Earths Americas’ flagship property is the Shiloh project located in Georgia which notably has very high grades of highly important heavy rare earth elements including neodymium, praseodymium, dysprosium and terbium
Going deeper:
- Rare Earths Americas also owns two other rare earth projects located in Brazil which both contain significant rare earth mineralization
- Cantor Fitzgerald led Rare Earths Americas' IPO financing round alongside of Stifel and Canaccord Genuity
