Update from Mark I have had a number of inqu
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Posted On: 02/08/2020 11:23:30 AM
Update from Mark
I have had a number of inquiries about this subject. I'll try to add more clarity.
The recent press release is specifically pertaining to shovel-ready activities at Bokan in preparation for mining. These technical activities are necessary now to prepare for our long term vision of HREE production at Bokan and will actually be incorporated into the eventual feasibility study. This is an early step to fulfill our obligation to shareholders as stipulated in our M3 plan supporting the 'Rights Offering' last year.
Separately and in parallel, Ucore's most important near term initiatives are focused on the development of a REE separation plant, the Alaska SMC. We are working towards unlocking AIDEA funding to assist with this objective. Additionally, recent government REE opportunities (e.g. the IBAS HREE separation plant initiative that we joined forces with Materion on) may also assist in this funding effort as we simultaneously seek to optimize the applied technology and to downselect the near term third party feedstock source(s) for this REE separation plant project.
We view a REE separation plant project as our nearest term revenue opportunity and believe that this will greatly enhance the feasibility of eventually developing Bokan. We expect to be able to update everyone in more detail as soon as the updates are 'material' and approved.
I have had a number of inquiries about this subject. I'll try to add more clarity.
The recent press release is specifically pertaining to shovel-ready activities at Bokan in preparation for mining. These technical activities are necessary now to prepare for our long term vision of HREE production at Bokan and will actually be incorporated into the eventual feasibility study. This is an early step to fulfill our obligation to shareholders as stipulated in our M3 plan supporting the 'Rights Offering' last year.
Separately and in parallel, Ucore's most important near term initiatives are focused on the development of a REE separation plant, the Alaska SMC. We are working towards unlocking AIDEA funding to assist with this objective. Additionally, recent government REE opportunities (e.g. the IBAS HREE separation plant initiative that we joined forces with Materion on) may also assist in this funding effort as we simultaneously seek to optimize the applied technology and to downselect the near term third party feedstock source(s) for this REE separation plant project.
We view a REE separation plant project as our nearest term revenue opportunity and believe that this will greatly enhance the feasibility of eventually developing Bokan. We expect to be able to update everyone in more detail as soon as the updates are 'material' and approved.
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