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Texas Mineral Resources Corp. (TMRC)

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Previous Close2.9800
Open2.8600
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range2.6500 - 3.0000
52 Week Range0.4300 - 4.7000
Volume613,476
Avg. Volume579,262
Market Cap215.19M
Beta (5Y Monthly)0.81
PE Ratio (TTM)N/A
EPS (TTM)-0.0210
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • USA Rare Earth Applauds President Biden’s Executive Order to Secure America’s Critical Supply Chains for Rare Earth Elements and Electric Vehicle Batteries
    GlobeNewswire

    USA Rare Earth Applauds President Biden’s Executive Order to Secure America’s Critical Supply Chains for Rare Earth Elements and Electric Vehicle Batteries

    Biden Administration to Undertake Swift Reviews of Key U.S. Supply Chain Vulnerabilities, Including Critical Minerals USA Rare Earth’s Round Top Deposit Hosts Materials Essential to Rare Earth Permanent Magnets, EV and Li-Ion Batteries, and Advanced Semi-Conductor Chips New York, NY, Feb. 24, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- USA Rare Earth LLC, the funding and development partner of the Round Top Heavy Rare Earth, lithium and Critical Minerals Project in Hudspeth County, West Texas, together with Texas Mineral Resources Corp. (OTCQB: TMRC), today applauded President Biden’s Executive Order on Securing America’s Critical Supply Chains. The Executive Order requires swift new government assessments of key U.S. supply chains across the healthcare, technology and transportation sectors, including for semiconductor materials, critical minerals, rare earth elements, and electric vehicle batteries. “The assessments over the next 100 days will reiterate the importance of U.S. national assets like our Round Top heavy rare earth and lithium project in providing the technology metals needed for the next century of U.S. innovation and infrastructure,” said Pini Althaus, Chief Executive Officer of USA Rare Earth. “We applaud President Biden’s urgency to assess and build additional U.S. capacity across the transportation, energy and defense industrial base. Rare earths and critical minerals, including lithium, are essential to modern technology and require a robust, resilient strategy for U.S. advanced manufacturing and national security. Round Top touches three of the four vital products leading the EO today, including for semiconductors and electric vehicle batteries.” During the signing ceremony today, President Biden discussed the manufacturing base and mentioned, “key minerals and materials, like rare earths, that are used to make everything from harder steel to airplanes.” The Executive Order requires an immediate 100-day review of U.S. supply chains for four key products, including APIs for pharmaceuticals, rare earth elements, semiconductors and advanced packaging, and large capacity batteries. Multiple federal agencies will develop comprehensive supply chain assessments of goods and materials critical to national and economic security and for which shortages or global competition affect supply. USA Rare Earth’s Round Top deposit hosts the full range of rare earths and lithium for large capacity batteries and electric vehicle batteries, and also U.S. Government-listed Critical Minerals zirconium, hafnium and gallium, which are required for next-generation semiconductor manufacturing. The reports will provide the White House with policy options for the national defense stockpile and will build on recent government efforts led by a September 2020 executive order which addressed threats to the U.S. supply chain for critical minerals and rare earth elements. Subsequent government assessments within one year of Biden’s executive order will also examine the resiliency of essential materials to the defense and transportation industrial base, including gaps in domestic manufacturing capabilities and supply chains with a single point of failure, as well as opportunities to collaborate production with allied nations. “The Biden Administration is right to examine the criticality of numerous U.S. materials and electronic goods that are vulnerable to global disruption on a daily basis, including rare earth elements,” said Pini Althaus. “There is already surging demand for lithium and EV battery materials, and U.S. manufacturers will need new sustainable supply to meet near term goals this decade. We welcome President Biden’s leadership as we work to restore a full mine-to-magnet, mine-to-market U.S. supply chain.” Currently, the U.S. lacks a commercial-scale capability to process rare earth permanent magnets used in the automotive, aerospace, defense and electronics industries. In 2020, USA Rare Earth opened the first rare earth and critical minerals processing facility in the U.S. and also acquired the neodymium iron boron (NdFeB) permanent magnet manufacturing equipment formerly operated by Hitachi Metals America in North Carolina. The Company is presently completing plans to re-site and recommission the equipment; once operational, the facility will produce approximately 17% of the (2019) U.S. permanent magnet demand. The permanent magnets will also be used for electric vehicle motors. At present, no other NdFeB permanent magnet manufacturing plant is operational in the Americas. About USA Rare Earth, LLC USA Rare Earth, LLC is earning and acquiring an 80% operating joint venture interest in, and is the operator of, the Round Top Heavy Rare Earth and Critical Minerals Project located in Hudspeth County, West Texas from Texas Mineral Resources Corp. (TMRC: OTCQB). Round Top hosts a wide range of critical heavy rare earth elements, high-tech metals, including lithium, zirconium, hafnium and beryllium, and, based on the Preliminary Economic Assessment (dated August 16, 2019) projects a pre-tax net present value using a 10% discount rate of $1.56 billion based on a 20-year mine plan that is only 13% of the identified measured, indicated and inferred resources. The PEA estimates an internal rate of return of 70% and average annual net revenues of $395 million a year after average royalties of $26 million a year payable to the State of Texas. Based on the cost estimates set forth in the PEA, Round Top would be one of the lowest-cost rare earth producers, and one of the lowest cost lithium producers in the world. The Round Top Deposit hosts 16 of the 17 rare earth elements, plus other high-value tech minerals (including lithium) and is well located to serve the US internal demand. In excess of 60% of materials at Round Top will be used directly in green or renewable energy technologies. Round Top contains 13 of the 35 minerals deemed “critical” by the Department of the Interior and contains critical elements required by the United States, both for national defense and industry. USA Rare Earth has also opened a rare earth and critical minerals processing facility in Wheat Ridge, Colorado and in April 2020 USA Rare Earth acquired the neodymium iron boron (NdFeB) permanent magnet manufacturing equipment formerly owned and operated in North Carolina by Hitachi Metals America, Ltd. For more information about USA Rare Earth, visit www.usare.com Company Contact: USA Rare Earth LLC Pini Althaus, Chief Executive Officer Email: pini@usare.com Twitter: @USARareEarth

  • USA Rare Earth Partners with Source Certain International to Launch Transparent and Trusted Supply Chain for Critical Minerals
    GlobeNewswire

    USA Rare Earth Partners with Source Certain International to Launch Transparent and Trusted Supply Chain for Critical Minerals

    Traceability and Scientific Verification of Provenance to be Implemented for all Rare Earths, Lithium and Critical Minerals and Will Underpin USA Rare Earth Mine-to-Magnet Strategy New York, NY, Feb. 18, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- USA Rare Earth LLC, the funding and development partner of the Round Top Heavy Rare Earth and Critical Minerals Project in Hudspeth County, West Texas, together with Texas Mineral Resources Corp. (OTCQB: TMRC), is pleased to announce that it has partnered with Source Certain International (SCI). SCI will support USA Rare Earth to develop a transparent, traceable and trusted supply chain for its rare earth and lithium products, including permanent magnets. SCI forms a key part of USA Rare Earth’s mine-to-magnet and mine-to-market strategy. The SCI program will enable verification of provenance for all USA Rare Earth products. USA Rare Earth has prioritized the need to have independent robust systems that can provide environmental, social responsibility and other quality assurance information to downstream customers and consumers of rare earths, lithium and other critical raw materials from Round Top and other sources into USA Rare Earth’s mine-to-magnet supply chain. The partnership with SCI provides U.S. manufacturers, technology companies and renewable energy producers with proof of provenance to support their own ESG initiatives and assurances to their customers. As a global leader in supply chain transparency and integrity, SCI uses its unique understanding of complex global supply chains and its expertise in provenance science and technology to address challenges of credibility, trust, traceability and source verification. SCI’s process enables the scientific verification, through chemical profiling, of rare earth, permanent magnet, lithium and critical minerals’ mine-level provenance, independent of supporting claims. “Supply chain transparency and traceability for critical and strategic minerals supply chains -- particularly for green and clean technologies -- is fast becoming a requirement for end-users and for governments,” said Pini Althaus, Chief Executive Officer of USA Rare Earth. “We’ve seen it most recently in the solar power sector, with the spotlight on essential solar materials reportedly being produced in China using forced labor. Consumers want to know the products they purchase and use are ethically sourced, and they are going to demand that companies become transparent about their supply chains. USA Rare Earth sees this as core to how we meet our mission as a trusted source for critical and strategic minerals and metals. With SCI as our partner, customers and consumers will know exactly where USA Rare Earth materials come from, how they are mined, refined, recycled and reclaimed – and that the work was done responsibly, and in jurisdictions that have high standards with respect to the environment, safety and social responsibility.” “More than 80% of USA Rare Earth’s anticipated revenues from Round Top and its mine-to-magnet strategy are expected to be derived from supplying materials that will be used for clean/green applications. We believe supply chain transparency is essential for our immediate customers as well as to the end-use consumers of products such as electric vehicles, renewable energy generation and consumer electronics that incorporate these critical minerals. With these purchases, consumers are making deliberate environmentally conscious decisions for the betterment of our planet. Given our leadership in a US-based critical minerals supply chain, we feel it is important for us to promote industry standards that are in line with our position as an ESG-focused company and in line with the intended use of the materials we will be supplying. We intend to address the two major issues facing the U.S. on these matters: a secure and a sustainable supply chain; neither of which are currently being provided by China on whom we are currently reliant on for all of our critical minerals requirements,” Mr. Althaus added. SCI pioneered scientific provenance verification in the late 1970s in Australia, when it was first used as a “gold fingerprinting” tool, scientifically linking stolen gold to its mine of origin. Extensively used in gold heist, conflict or smuggled gold and other forensic investigations. The technology, now known as TSW Trace™, is used by SCI as a verification and investigative tool in the supply chains of a vast array of global industries, including mining. TSW Trace™ analyses the physical sample of a product to determine its unique chemical profile that is imparted on the product at point of production. The analytical result that is determined is referred to as a chemical fingerprint which is uniquely representative of the product’s provenance (discrete source of origin) and, where relevant, how it may have been produced or manufactured. Compared to Blockchain, for example, traceability relies on the integrity of data that it stores. SCI technology involves physical and scientific analysis of a product to verify provenance. A traceability system, including those that use a Blockchain, share data often captured through a marker on the product’s packaging (i.e., barcode) and not the physical product itself. The assignment of that marker is ultimately undertaken by people, making it susceptible to human error and fraud. Conversely, the chemical fingerprint captured by SCI is a representation of where the product came from and also how it has been made, including the mining and processing and manufacturing of these materials – and that information can be verified as it moves along the advanced materials supply chain before reaching its end-users. The USA Rare Earth – SCI partnership will demonstrate a unique platform that shares critical information, including key metrics that relate to the carbon footprint of the product, plus any relevant ethical, environmental or sustainability certifications and product provenance – all scientifically verified and transparently documented. “We work in the supply chain integrity area at SCI, so we see the good and the bad. The issues being tackled here are not easy. The critical mineral supply chains, specifically those that carry rare earths and their products like neo magnets, face what could be described as a perfect storm. With a global energy revolution transpiring, there is intense focus on alternative energy sources to traditional fossil fuels. Whether it be electrical vehicles or wind turbines that generate clean energy, critical minerals like rare earth minerals are present in all of these. Beyond the energy sector these minerals are inputs for other materials used in defense, including weapons and space. All of this delivers increased demand that has not been experienced to date,” said Cameron Scadding, Managing Director of Source Certain International. Mr. Scadding continued, “The challenges of this spiking demand are amplified by a concentration risk within the current supply chain and an overall lack of diversity of supply. Adding to this is the existing supply chain, like with other minerals, is inherently opaque making it difficult to impossible to know where the minerals and their associated metal products have been sourced and then in turn how they might have been mined, processed, refined and manufactured. This makes understanding ethical sourcing and environmental credentials for the existing supply chains of these products also practically impossible. Therefore, we commend USA Rare Earth for taking a leadership role in their commitment to transparency and decision to underpin supply chain information with verification through an independent scientific provider like SCI that will verify the origin claims for all upstream mines and processing facilities within their supply chain.” U.S. Bi-partisan Focus on Supply Chain Integrity USA Rare Earth’s supply chain transparency initiative comes as the U.S. Government focuses on domestic supply chain integrity with concerns ranging from availability, manufacturing and social responsibility to matters of national and economic security. President Biden is expected to sign an Executive Order in the coming weeks to undertake a comprehensive review of U.S. supply chain vulnerabilities to strengthen U.S. resilience and capacity for critical goods and materials. The executive actions will follow recent Congressional efforts to address domestic critical materials production and the U.S. defense industrial base. The omnibus appropriations and emergency coronavirus relief legislation signed into law in December included increased R&D funding to the U.S. Department of Energy to support a secure, robust and sustainable supply of critical minerals and materials. The bipartisan legislation was led by U.S. Senators Lisa Murkowski (R-AK) and Joe Manchin (D-WV), as well as Representative Eric Swalwell (D-CA) who co-chairs the Critical Materials Caucus with Representative Guy Reschenthaler (R-PA). The FY2021 National Defense Authorization Act (NDAA) also strengthened defense acquisition restrictions on the procurement of rare earth permanent magnets that are mined, refined, separated, melted or produced in non-allied countries, including China. This expanded defense procurement policy will take effect in 2026. The NDAA also included U.S. domestic procurement preferences for strategic and critical materials acquired for the defense industrial base. The collaboration by USA Rare Earth and SCI will support these and other federal requirements and ESG initiatives and will provide value-added information to the U.S.-based companies that are required or voluntarily disclose supply chain information involving minerals, labor, environmental and other standards. About USA Rare Earth, LLC USA Rare Earth, LLC is earning and acquiring an 80% operating joint venture interest in, and is the operator of, the Round Top Heavy Rare Earth and Critical Minerals Project located in Hudspeth County, West Texas from Texas Mineral Resources Corp. (TMRC: OTCQB). Round Top hosts a wide range of critical heavy rare earth elements, high-tech metals, including lithium, zirconium, hafnium and beryllium, and, based on the Preliminary Economic Assessment (dated August 16, 2019) projects a pre-tax net present value using a 10% discount rate of $1.56 billion based on a 20-year mine plan that is only 13% of the identified measured, indicated and inferred resources. The PEA estimates an internal rate of return of 70% and average annual net revenues of $395 million a year after average royalties of $26 million a year payable to the State of Texas. Based on the cost estimates set forth in the PEA, Round Top would be one of the lowest-cost rare earth producers, and one of the lowest cost lithium producers in the world. The Round Top Deposit hosts 16 of the 17 rare earth elements, plus other high-value tech minerals (including lithium) and is well located to serve the US internal demand. In excess of 60% of materials at Round Top will be used directly in green or renewable energy technologies. Round Top contains 13 of the 35 minerals deemed “critical” by the Department of the Interior and contains critical elements required by the United States, both for national defense and industry. USA Rare Earth has also opened a rare earth and critical minerals processing facility in Wheat Ridge, Colorado and in April 2020 USA Rare Earth acquired the neodymium iron boron (NdFeB) permanent magnet manufacturing equipment formerly owned and operated in North Carolina by Hitachi Metals America, Ltd. For more information about USA Rare Earth, visit www.usare.com Company Contact: USA Rare Earth LLC Pini Althaus, Chief Executive Officer Email: pini@usare.com Twitter: @USARareEarth About Source Certain International Source Certain International (SCI) are global leaders in provenance science and technology. Their scientific technology enables the verification of a product’s provenance, independent of claims and labels. Source Certain technology was first used 40 years ago where Chief Scientist Dr R. John Watling pioneered a scientific method to determine the provenance of gold and diamonds to assist with criminal investigations. The technology, TSW Trace™ evolved to a commercial application as a forward-facing supply chain integrity solution applied across most food or non-food sectors. Using proprietary TSW Trace™ technology, SCI analyses the relationship between a product and its environment by analyzing trace elements, isotopes, chemicals and molecules to create a unique chemical fingerprint for the product and its matching location of origin. The construction of the product's chemical fingerprint allows Source Certain to verify the provenance of a product mid-supply chain. Value claims like sustainable and ethical production, and origin of product are provenance-based claims highlighting the importance of determining origin to a high level of specificity. SCI deploys its technology within broad supply chain transparency strategies that incorporate in-market verification and surveillance-type programs. Their vision is for supply chains to operate transparently, with integrity, and trusted by consumers to deliver what is promised. Source Certain has extensively applied their technology through numerous forensic applications over a number of years which now sees this technology as a proven and legally established method, internationally accepted in the courts. Current and historical industry and B2B application includes Seafood, Agriculture, Horticulture, Wine, Cannabis, Critical & Strategic Minerals and Rare Earths and others. For more information about Source Certain, visit https://www.sourcecertain.com/ Company Contact: Source Certain International Nathan Dubrich, Head of Sales Email: nathan.dubrich@sourcecertain.com LinkedIn: https://www.linkedin.com/company/source-certain-international-pty-ltd/ Twitter: @SourceCertain Facebook: https://www.facebook.com/SourceCertainInt

  • Texas Mineral Resources Announces Encouraging Preliminary Geophysical Analysis of Silver Samples from Black Hawk Mining District in New Mexico
    GlobeNewswire

    Texas Mineral Resources Announces Encouraging Preliminary Geophysical Analysis of Silver Samples from Black Hawk Mining District in New Mexico

    SIERRA BLANCA, TX, Feb. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Texas Mineral Resources Corp. (OTCQB: TMRC) Preliminary results suggest geophysical analysis might assist in delineating high-grade silver ore-shootsNext phase of geophysical work scheduled to begin in late March 2021Silver used extensively in the production of photovoltaic (PV) cells, the building blocks of solar panels Texas Mineral Resources Corp. (TMRC), an exploration company targeting the heavy rare earths, technology metals and a variety of industrial minerals currently through its Round Top Mountain project in Texas, is pleased to announce preliminary geophysical analysis of baseline silver samples taken from the historic Alhambra Mine located in the Black Hawk district of Grant County, New Mexico. In November 2020 TMRC announced the execution of a letter of agreement to pursue, negotiate and subsequently enter into a joint venture agreement with Santa Fe Gold Corp. (OTCQB:SFEG) to jointly explore and develop a targeted silver property within the Black Hawk Mining District in Grant County, New Mexico. Historical exploration activities have demonstrated that the Black Hawk district hosts a well-known geologic type of carbonate vein that contains small but very high-grade ore-shoots or pods containing native silver as the principal ore mineral, with potential for cobalt recovery as well. The nature of these carbonate veins lateral to and between these high-grade ore lenses is not known at this time, but evidence within the Black Hawk district and from historic districts of this type suggests that the intervening vein carbonate is relatively unmineralized. Because of the small size of the ore-shoots, their random distribution, and the lack of definite leads to forecast the proximity of ore, historic attempts to locate and mine these ore-shoots have been unsuccessful. Modern geophysical tools may provide a method of pinpointing these ore-shoots. Geophysical exploration in the mining sector generally employs three methods: gravimetric, magnetic and electrical. Given the precision of electrical signatures, we believe electrical methods may hold the best promise for locating the Black Hawk District ore-shoots. Optimum conditions for the successful deployment of electro-geophysics would require a strongly responsive target enclosed in an inert wall rock. It is possible to roughly measure these characteristics from rock samples, and representative samples have been analyzed by Zonge International (http://zonge.com/) in their Tucson and Reno labs. One of the principal parameters measured by electro-geophysics is a factor called chargeability: the ability of the rock to store an electric charge. Chargeability is reported in milliseconds and reflects the time necessary for the rock to return to its static condition after being subjected to the applied voltage. In general, the higher the chargeability number the higher the percentage of metallic minerals. Many other parameters are measured and the complex interactions between them are subject to considerable interpretation and analysis, but a direct comparison of the chargeability gives a good first approximation of the chances of success in locating the target. Analytical Summary: Sample Chargeability milliseconds Quartz Diorite Gneiss Wall Rock 5 Average of 7 Mineralized Silver Vein Samples 71 “These results, which indicate that the mineralized vein at Alhambra may be 14 times more responsive than the surrounding wall rock, bode well for the successful application of geophysics for detecting the types of ore-shoots characteristic of these veins,” commented Dan Gorski, CEO. “Based upon this preliminary analysis, we are moving forward with the field survey -- Phase One of the multi-phase exploration program announced by TMRC in November 2020. The multi-phase program is designed to reduce discovery risk by allocating relatively modest resources while basing further commitments on results of preceding phases. Phase One work will begin pending scheduling of the geophysical contractor -anticipated to be late March 2021.” Our United States Forest Service Plan of Operations in support of the geophysical program has been approved by the Silver City District Office of the Gila National Forest. Anthony Marchese, chairman, further commented: “One of the most significant industrial applications for silver today is its use in photovoltaic (PV) cells, the building blocks of solar panels, a leading clean-energy technology. The cost of electricity generation from PV has rapidly declined over the past decade and is in many instances close to or below the cost of power generated by burning fossil fuels. With solar power generation expected to nearly double by 2025 according to industry publications, this sector is projected to remain an important and consistent source of industrial demand for silver over the next ten years, while underscoring silver’s role as a green metal. The Black Hawk silver project is an example of how TMRC is seeking to create additional shareholder value by searching for opportunities in evolving industrial minerals.” About Texas Mineral Resources Corp. Texas Mineral Resources Corp.'s focus is to develop and commercialize, along with its funding and development partner USA Rare Earth LLC, its Round Top heavy-rare earth, technology metals, and industrial minerals project located in Hudspeth County, Texas, 85 miles southeast of El Paso. Additionally, , the Company’s strategy is to develop alternative sources of strategic minerals through the processing of coal waste and other related materials as well as developing other domestic mining projects in more traditional metals. The Company’s common stock trades on the OTCQB U.S. tier under the symbol “TMRC.” Cautionary Note to Investors The United States Securities and Exchange Commission ("SEC") limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce and that are compliant with SEC Industry Guide 7. Investors are cautioned not to assume than any part or all of the proposed project in the Black Hawk Mining District as contemplated in the November 2020 letter agreement or in this press release (with the preliminary results from Zonge International) contains any mineral deposits that will ever be converted into resources or that any inferred mineral resource or measured and indicated resources exists or is economically or legally mineable. The proposed project does not contain any known proven or probable ore reserves or mineral resource compliant with SEC Industry Guide 7 reporting standards. Investors are urged to consider closely the disclosure set forth in TMRC’s latest reports filed with the SEC. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding the potential development, economic feasibility, resource, grade and other mineralization characteristics, and drilling and exploration methods that may be utilized in potential exploration of the Black Hawk Mining District project. When used in this press release, the words “potential,” “plans,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if, “anticipate,” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of mineralized material and mineral resource estimates, risks to projected and estimated economics not reflecting actual economic results due to the uncertainty of mining processes, potential non-uniform sections of mineralized material, potential mining hazards and accidents, changes in equipment and labor costs, changes in projected mineral prices and demand, competition in the mining industry, risks related to project development determinations, the inherently hazardous nature of mining-related activities, potential effects on the Company's operations of environmental regulations, risks due to legal proceedings, liquidity risks and risks related to uncertainty of being able to raise capital on favorable terms or at all, as well as those factors discussed under the heading "Risk Factors" in the Company's latest annual report on Form 10-K as filed in November 2020 and other documents filed with the U.S. Securities and Exchange Commission. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements. Company Contact:Texas Mineral Resources Corp.Anthony Marchese, ChairmanE-mail: amarchese@tmrcorp.com Twitter: @TexasMineralRes