Q: Is there any indication of when Ucore will begin production at it's Louisianna plant?Would you consider it a buy today or more of a wait and see?
Thank you
Thank you
5i Research Answer:
Yes; timeline is as follows:
Commissioning of the first commercial unit targets mid-2026; Initial output: 2,000 tonnes per annum (tpa) of rare earth oxides in 2026. Scaling to 5,000 tpa in 2027 and up to 7,500 tpa by 2028.
Phase 1 demonstration in Ontario completed over 6,000 hours of runtime, supporting the transition to Louisiana for Phase 2, which includes building and commissioning a commercial-scale machine. A groundbreaking occurred in May 2025, with ongoing advancements like equipment arrivals reported in April 2026.
While it is a small company in a cyclical industry, and there are risks, we would be OK buying. Stocks often get re-rated higher as they move into production.