Ucore Continues to Advance Rare Earth Processing Supported by U.S. DoW with Final Phase 1 Report Submitted for RapidSX(TM) Project

The most recent news release (February 17, 2026) confirms the successful completion and submission of the Final Phase 1 Report for the RapidSX™ project under an Other Transaction Agreement (OTA) with the U.S. Department of War (DoW). Key technical achievements include approximately 6,000 hours of runtime at the Kingston Commercialization and Demonstration Facility (CDF) and the generation of over 10,000 data points. This report includes a Final Techno-Economic Analysis (TEA) and a Final Demonstration Report. Operationally, the company has already transitioned into Phase 2, with 5 of 20 milestones completed, focusing on the construction and commissioning of a commercial-scale RapidSX™ machine at the Louisiana Strategic Metals Complex (SMC).

This news is Material - Positive. While the market had priced in the expectation of technological success following the $18.4 million Phase 2 award in May 2025, the formal submission of the Phase 1 final report serves as a critical de-risking event. - Technical Validation: 6,000 hours of runtime is a substantial operational baseline that moves the RapidSX™ technology beyond the "pilot" stage into a proven demonstration phase. - Financial Certainty: Completion of Phase 1 milestones ensures the finalization of the initial $4 million funding portion and solidifies the pathway for the remaining $18.4 million in non-repayable DoW support. - Strategic Alignment: The news reinforces Ucore’s position as a primary beneficiary of the U.S. government’s "ex-China" strategy, specifically targeting heavy rare earth element (HREE) separation, which remains a significant supply chain vulnerability. - Momentum: Moving into Phase 2 with 25% of milestones already reached indicates management is maintaining the aggressive schedule required to meet the H2-2026 production readiness goal.

Ucore Rare Metals is a Canadian company focused on REE separation and refining. Its flagship initiative is the Louisiana Strategic Metals Complex (SMC) in Alexandria, Louisiana, which aims to be the first modern commercial REE separation facility in North America independent of Chinese equipment and technology. The project utilizes the proprietary RapidSX™ technology, a computerized column-based solvent extraction process that claims 2x-4x faster throughput than conventional methods. The company also holds a 100% interest in the Bokan-Dotson Ridge HREE project in Alaska, which serves as a long-term potential domestic feedstock.