Annual Meeting of Shareholders and Community Update

(8/27/24)

On August 20th, the Company had the pleasure of updating residents of Upton, WY, and the surrounding communities, as well as our shareholders, on the progress we have made on the construction of our rare earth recovery and separation demonstration plant. 

The event included a presentation by Ken Mushinski, President and CEO, on the state of current events and the importance of the Project for the community, the State, and the Nation. The presentation included progress photos of both the completed exterior improvements and interior renovations and expansion as well as a construction timelapse video showing how far the Project has progressed.  Most impressive was the amount of processing equipment in place that is currently being plumbed and wired into the processing stream. This work is expected to be finished in the next few months, with operations expected to begin thereafter and run for an additional up to 12 months.

Members of the Company’s Board of Directors were also in attendance and started the day with a plant visit. They saw firsthand the Company’s progress on the plant. Because of the proprietary technology that is being tested at the plant, visitors are limited to members of the Company and key state and federals agencies.

The Company continues to enjoy the support of the local communities and was pleased to have Upton Mayor, Nick Trandahl, in attendance. He is pictured here with Ken Mushinski (R) and Chairman of the Board, Jerry Grandy (L). Mayor Trandahl and other community members are looking forward to the continued opportunities the Project represents to the area in term of employment and economic stimulus, and also the potential to attract downstream alloy and magnet manufacturing to the area once a steady, secure source of separated rare earths is available.