Proprietary ISR (Innord) Rare-earth Separation TechnologyOwning a proprietary separation process creates a durable competitive advantage in REE value chains. If commercialized or licensed, ISR can generate recurring tech/licensing income, improve margins vs third-party processors, and strengthen strategic partnerships across the supply chain.
High Gross Margins (~81%) On Reported RevenueSustained high gross margins indicate attractive unit economics for the company’s processing or product mix. This provides structural capacity to absorb SG&A and development costs, and supports scalability once fixed costs are leveraged and volumes increase.
Improved Leverage; Equity Rebuilt Versus Prior PeriodReduced leverage and a rebuilt equity base strengthen balance-sheet resilience and lower near-term insolvency risk. This structural improvement enhances access to financing, supports project development timelines, and gives management more flexibility to pursue Montviel and ISR commercialization.