Business Plan

Supporting Details of the ALASKA2023 Business Plan

The ALASKA2023 plan is our definitive three-year plan consisting of very explicit and interrelated goals that now drive every decision made by the Company based upon the following salient objectives:

  1. Enhance our relationship with the AIDEA to obtain financing associated with the Alaska Strategic Metals Complex (Alaska SMC) and the Bokan Project;
  2. Continue our working relationship with the State of Alaska Congressional Delegation in pursuit of US government support for our Alaska business development;
  3. Formalize our partnerships with the communities of Southeast Alaska as we develop the Alaska SMC and progress the development of the Bokan Project;
  4. Finalize a feasibility study, detailed mine engineering, and initiate mine permitting for the Bokan Project;
  5. Through our wholly-owned subsidiary, IMC, complete the commercialization of the RapidSXTM technology and launch the associated IMC licensing model;
  6. Finalize a definitive agreement with Materion Corporation (Materion) to establish a potential joint venture arrangement for the development of the Alaska SMC (and a prospective Utah SMC) with REOs offtake agreements;
  7. Construct the Alaska SMC, a commercial-scale RapidSXTM HREE & LREE separation and purification facility in Southeast Alaska as the first component of the Bokan Project. The Alaska SMC:
    • Is expected to be commissioned and in operation within three years (by Q4 2023) and with a budgeted cost of less than US $35 million.
    • Will be designed to initially process US-allied sourced feedstock(s) and ultimately feedstock from the Bokan Project itself.

ALASKA2023 Business Plan

Michael Shrider, P. Eng.

Chief Operating Officer
Ucore Rare Metals Inc.