Drew Nordquist

Suji Desilva

- USA Rare Earth (USAR) is focused on establishing a domestic supply chain for rare earth minerals and magnets, aiming to address China's **90-98% control** of the global market.  **[1970622_tx_375152_1]**  The company's key assets include an **80% interest in Round Top Mountain**, a heavy rare earth deposit, and a magnet manufacturing facility in Stillwater, Oklahoma.  **[1970622_tx_375152_4]** 
- The Stillwater magnet facility is finalizing its initial **600 metric tons** of production (Phase 1a), with commissioning expected in **Q1 next year** (2026).  **[1970622_tx_375152_4]** **[1970622_tx_375152_5]**  The facility has a total capacity of **5,000 metric tons**, with potential to expand to **10,000 metric tons**.  **[1970622_tx_375152_5]** 
- USAR is actively engaging with customers, with **70 customers** in its pipeline and **12 MOUs** signed, representing **5,000 to 7,000 metric tons of demand**.  **[1970622_tx_375152_4]** **[1970622_tx_375152_6]**  The company anticipates announcing purchase orders in the **next three to four months**.  **[1970622_tx_375152_5]** **[1970622_tx_375152_6]** 
- The company has a strong financial position with **$130 million in cash** on its balance sheet, having raised over **$140 million in the last six months**.  **[1970622_tx_375152_6]**  Approximately **$60 million in CapEx** is planned for Q3 and Q4 (2025).  **[1970622_tx_375152_7]** 
- USAR is in discussions with various U.S. government entities for potential grants, loans, or equity, positioning itself as a complementary supplier of heavy rare earths for defense and other critical industries.  **[1970622_tx_375152_7]** **[1970622_tx_375152_11]**