09:59 AM EDT, 10/31/2025 (MT Newswires) -- Ucore Rare Metals ( UURAF ) shares rose 12% on Friday after it entered into a non-binding Heads of Agreement (HoA) with Wyloo Gascoyne and Hastings Technology Metals to establish a long-term supply pathway for Yangibana rare earth concentrate and evaluate hydrometallurgical (Hydromet) processing options in the United States, with Louisiana as the priority location.

The company said HoA links Australian feedstock from the Yangibana Rare Earths and Niobium Project with U.S. mid-stream processing and separation at Ucore's Louisiana Strategic Metals Complex (SMC).

"More importantly, the joint evaluation of a downstream Hyrdromet plant in the US demonstrates the efforts by Wyloo, Ucore and Hastings to access the financing and commercial opportunities arising from the recently announced rare earth deal by the US and Australian governments to jointly support "ready to go" projects," said Ucore Rare Metals ( UURAF ) chief executive Vince Catania.

Ucore said the HoA contemplates up to 37,000 tonnes per annum of Yangibana rare earth concentrate, sourced from the Stage 1 mine and beneficiation circuit of the Yangibana Project. The parties will jointly complete a Gap Analysis and techno-economic assessment of a new Hydromet facility in Louisiana, or a qualified third-party U.S. facility, to convert concentrate into mixed rare earth carbonate (MREC) suitable for downstream separation at Ucore's SMC.

It added that the HoA has a two-year term and may be extended by mutual consent.

Shares of the company were last seen up $0.90 at $8.24 on the TSX Venture Exchange.

Price: 8.10, Change: +0.76, Percent Change: +10.35