Ucore Receives Initial Machine A Commissioning Feedstock at the Louisiana SMC

Ucore Rare Metals Inc. announced that it has received more than 50 tonnes of mixed rare earth carbonate at the Louisiana Strategic Metals Complex to begin the initial commissioning of RapidSX™ Machine A. The material is bastnaesite-derived MREC from a North American source and is described as the same “second source” feed used to produce 99.5% NdPr oxide at the Kingston CDF in August 2026. Additional commissioning feed is planned to include Western-sourced samarium-europium-gadolinium MREC.

The company also provided an update on Factory Acceptance Testing, stating it has validated the primary Machine A component configuration. This setup consists of two automated 8-inch RapidSX™ contactor columns feeding one 12-inch separator column for each of 125 solvent-extraction stages. Ucore noted that it is still optimizing minor component connectivity details for the FAT program.

Machine A is described as having a 600 tpa TREO capacity and 125 SX stages. It is capable of running as two RapidSX™ machines in series for NdPr production or as a single 125-stage machine for simultaneous products such as Sm/Gd, Tb/Dy, Pr/Nd, or Y. Ucore continues to target the installation, testing, and commissioning of the first 600 tpa “Enhanced Machine A” in H1 2027.

The current release cites 125 SX stages, which compares with the approximately 118-stage Enhanced Machine A configuration described in the May 28 and July 7, 2026 releases. The company does not explain the change in this release.

Ucore Rare Metals Inc. (UCU) has advanced its Louisiana processing facility preparations, confirming that initial commissioning feedstock has arrived on site and validating the primary component configuration for Machine A. The company also reported that its Continuous Flow Device (CDF) runtime at the Kingston facility exceeded 7,400 hours as of August 20, 2026.

The arrival of more than 50 tonnes of commissioning feedstock reduces near-term procurement uncertainty for the first commissioning campaign. This development follows the validation of the primary contactor and separator configuration for Machine A through Factory Acceptance Testing (FAT). While the FAT is not yet fully complete due to ongoing optimization of minor connectivity details, the update supports the engineering pathway toward the targeted H1 2027 commissioning window.

Ucore’s operational history at the Kingston site demonstrates the viability of the feedstock being used for Louisiana. On August 20, 2026, the company produced 99.5% NdPr from both ionic clay and bastnaesite feeds. Earlier in the year, on June 22, 2026, Ucore produced 99.5%+ NdPr oxide at Kingston and shipped qualification samples, followed by the production of 99.9% Dy oxide for customer qualification on July 7, 2026. The company completed its RSX-1 scale-up verification program and selected Enhanced Machine A configurations on August 5, 2026.

Financial and structural developments have accompanied these technical milestones. On August 6 and August 13, 2026, Ucore announced and closed a C$69.0 million bought deal at C$2.80 per share, including the full over-allotment. On September 9, 2026, Orca Holdings exercised 10,268,165 warrants, and Ucore repaid all Orca debt. Additionally, on September 14, 2026, Ucore secured an additional US$4.6 million Department of War (DoW) Office of Technology Acquisition (OTA) modification, bringing total OTA funding to US$27.0 million.

The Louisiana project’s scope and timeline have evolved from earlier estimates. An optimized plan announced on May 28, 2026, moved to three production lines with an estimated output of about 9,600 tonnes per annum of total rare earth oxides (TREO). The estimated capital expenditure for Enhanced Machine A plus Production Line 1 was set at US$135 million, a rise from a prior US$65 million estimate. The commissioning target was set for H1 2027. On October 27, 2026, Ucore added an owner’s engineering representative and key Louisiana personnel, reiterating the H1 2027 commissioning target.

Ucore has also expanded its commercial and strategic partnerships. On March 24, 2026, the company signed a memorandum of understanding with Vulcan Elements for NdPr and Dy oxide supply, with commercial supply targeted from 2027. On June 15 and June 18, 2026, Ucore announced a cooperation framework with Sumitomo Corporation of Americas and received G7-related recognition. On March 31, 2026, Ucore updated discussions with Hastings/Wyloo, noting the arrangement remained non-binding.

Market conditions for rare earth elements have seen significant price movements. On February 23, 2026, management highlighted that prices for dysprosium oxide (Dy) outside of China exceeded US$1,000/kg and terbium oxide (Tb) exceeded US$4,500/kg. On March 6, 2026, Ucore advanced planning for samarium and gadolinium, citing a conditional Canadian government package of up to C$36.3 million.

Regulatory and technical assessments have continued to progress. On April 7, 2026, the DoW accepted the Phase 1 final report and techno-economic assessment. Ucore cited faster extraction and settling times compared to conventional solvent extraction. The DoW Phase 1 final report was submitted on February 17, 2026, with five of twenty Phase 2 milestones complete at that time. A DPAS-rated reactor arrived in Louisiana on April 16, 2026, under a modified US funding agreement.

The latest release does not announce the start of commissioning, first production, customer qualification of Louisiana material, a binding offtake contract, a binding feedstock agreement, a capex update, or new funding. The 125-stage count mentioned in the release versus the prior ~118-stage description adds engineering detail but is not explained.

Ucore Rare Metals Inc. is a pre-revenue rare earth technology and critical minerals company listed on the TSXV under UCU and OTCQX under UURAF. Its near-term flagship is the Louisiana Strategic Metals Complex in Alexandria, Louisiana. The company is commercializing its RapidSX™ solvent-extraction separation technology, supported by the Kingston, Ontario Commercialization and Demonstration Facility. Longer term, Ucore controls the Bokan-Dotson Ridge heavy rare earth project in Southeast Alaska.

The Louisiana SMC is planned to process Western-friendly MREC and MREO feedstocks and produce NdPr, Pr, Nd, Sm, Gd, SEG, Tb, Dy, and potentially Y. The optimized plan cited in the May 28, 2026 release contemplates Enhanced Machine A plus three production lines, with total capacity of about 9,600 tpa TREO. The first Enhanced Machine A is designed for 600 tpa TREO and is targeted for installation, testing, and commissioning in H1 2027.

The Bokan-Dotson Ridge project is a longer-dated asset. The April 14, 2026 resource update reported Measured 801,600 tonnes at 0.60% TREO, Indicated 3,369,800 tonnes at 0.58% TREO, and Inferred 980,300 tonnes at 0.57% TREO. HREO is described as 35-40% of TREO. The next step cited in the MD&A is an updated Preliminary Economic Assessment.

No royalty terms for Bokan or the Louisiana SMC are disclosed in the provided materials. Royalty status cannot be determined from the available data.

No analyst ratings, target range, or average price target are provided in the supplied materials.