Strong Cash Position
USA Rare Earth has over $400 million in cash as of November 3, 2025, providing flexibility and liquidity to execute their strategy. Additional $123 million expected from warrant exercises.
LCM Acquisition
The acquisition of Less Common Metals (LCM) enhances revenue-generating ability and establishes a fully integrated rare earth supply chain, expected to close by the end of 2025, subject to regulatory approval.
Magnet Manufacturing Progress
Commissioning of Line 1a at the Stillwater magnet manufacturing plant is on track for Q1 2026, with plans to expand capacity significantly.
Recycling and Mining Milestones
Progress in swarf recycling flow sheet and pre-feasibility study phase for Round Top development project, with hafnium extraction expanding offerings.
Operating Expense Management
Ongoing adjusted operating expenses for Q3 2025 were $8.9 million, adjusted for M&A-related expenses, stock-based compensation, and severance costs.