$UURAF

Ucore Rare Metals Inc. (TSX-V:UCU, OTCQX:UURAF) announced a bought deal public offering of 21.43 million common shares at C$2.80 each for gross proceeds of about C$60.0 million. Underwriters include Red Cloud Securities and B. Riley Securities. Net proceeds will fund development of Louisiana’s strategic metals complex and working capital. Closing is expected around Aug. 13, 2026.

Ucore Rare Metals (TSXV: UCU, OTCQX: UURAF) says it completed RapidSX RSX-1 scale-up verification for its Louisiana Strategic Metals Complex in Alexandria, including optimized operating profiles from 400+ tests across contactor sizes up to 24 inches. The program is partly funded by a US$18.4 million US DoD War OTA modification. Enhanced Machine A is designed for 600 tpa TREO processing.

Reuters reports that Trump’s plan to remove Chinese critical minerals from U.S. defense supply chains by 2027 faces delays because domestic mining and processing capacity is behind schedule. The administration has funded nearly 150 projects and tightened waiver rules. U.S. rare earth magnet output is far below demand, and tungsten and tantalum are not mined domestically. Project Vault stockpiling may still rely on Chinese inputs.