Mentioned:
REalloys is aiming to be one of the leaders of rare earth magnet production in North America. Which is exactly why they’re raising a new mega financing round.
What’s happening:
- REalloys (NASDAQ: ALOY) has entered into a securities purchase agreement with institutional investors to raise $100M USD in a new equity financing round
Why it matters:
- REalloys is currently building out what is expected to be the single largest rare earth metallization facility outside of China that is capable of commercial scale operations and supplying the United States military with strategic rare earth stockpiles without any nexus to foreign countries
Going deeper:
- Critical Metals (NASDAQ: CRML) and REalloys recently struck a new offtake deal in which Critical Metals will supply REalloys with 15% of their annual rare earth feedstock production from their flagship Tanbreez project located in Greenland
- The United States Defense Logistics Agency previously awarded REalloys a contract to design a modular plant to produce samarium and gadolinium metal for rare earth magnets and REalloys has publicly stated they are aiming to process 300 metric tonnes annually of samarium and gadolinium into metal form
The intrigue:
- Former Chief of Staff to the United States Secretary of Defense Joe Kasper is notably on the advisory board of REalloys
