Mentioned:
REalloys is coming after the opportunity in rare earth magnets in North America. And now, BlackRock has an ownership stake.
What’s happening:
- BlackRock has filed a new Schedule 13G with the United States Securities and Exchange Commission disclosing a 6.2% equity stake position in REalloys (NASDAQ: ALOY)
By the numbers:
- BlackRock owns roughly 4.2M common shares of REalloys
Why it matters:
- This is the first time ever that BlackRock has publicly stated they have an ownership stake of more than 5% in REalloys
Going deeper:
- REalloys is currently building out the largest heavy rare earth metallization facility in North America and has a long term offtake agreement with Critical Metals (NASDAQ: CRML) in which REalloys will receive 15% of the total rare earth feedstock from Critical Metals’ flagship Tanbreez project located in Greenland
- The United States Army notably conditionally selected REalloys to build a rare earth separation facility located directly on-site at the Tooele Army Depot located in Utah
The intrigue:
- REalloys just recently raised $100M USD in an equity financing round led by Citadel and Blackstone (NYSE: BX) at $14.25 USD per share
