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Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) highlighted major progress across its integrated rare earths supply chain strategy in quarterly results released on Thursday, advancing magnet recycling, refining and project development in the United Kingdom, United States, Brazil and Uganda. The company’s activities were underpinned by a A$3 million capital raise and supported by growing geopolitical urgency to secure ex-China supplies of magnet and heavy rare earths — particularly following China’s April restrictions on exports of key elements such as dysprosium and terbium. Ionic’s UK-based subsidiary, Ionic Technologies, signed a non-binding MOU with European Metals Recycling Ltd during the quarter, agreeing to supply end-of-life magnets and collaborate on recycling processes for the company’s Belfast demonstration facility. Post-quarter, the Ionic-led CirculaREEconomy consortium — which includes Ford Technologies Ltd, Bentley Motors Ltd, Wrightbus, Less Common Metals and others — secured £11 million (A$22.6 million) in UK government backing to develop a domestic rare earth permanent magnet supply chain. Ionic’s share of the funding is about £3.1 million (A$6.4 million). The program, which begins August 1, will support magnet REO separation and supply chain innovation, with Ionic Technologies providing feedstock processing and leading the project. The company also engaged with UK stakeholders during the quarter, including the All-Party Parliamentary Group on Mid-Stream Technologies and the UK Department for Business and Trade. Ionic also reported progress in talks with US-based partners regarding potential rare earth separation and recycling plants across multiple states. These would leverage the company's Belfast-developed intellectual property and could include the establishment of US-based facilities under the Viridion joint venture. Samples of high-purity separated REOs have been dispatched to prospective US partners, and the company is advancing engineering and planning to support site selection and early works. In parallel, Ionic is updating scoping studies for a potential US refinery to process mixed rare earth carbonate (MREC) from the company’s 60%-owned Makuutu project in Uganda and other global ionic adsorption clay (IAC) sources. A previous study outlined a 4,000-tonne-per-annum facility in Tennessee, with product outputs including neodymium, praseodymium, dysprosium and terbium oxides. In Brazil, Ionic’s 50:50 JV with Viridis Mining and Minerals Ltd (ASX:VMM), Viridion, delivered its first batch of locally sourced and recycled rare earth oxides to CIT SENAI’s Lab Fab facility. These were processed from Brazilian end-of-life magnets using Ionic’s Belfast technology and are now undergoing testing for magnet production quality. Viridion also advanced to the second phase of funding consideration under Brazil’s national BNDES and FINEP programs, which aim to invest more than R$8 billion in critical minerals and innovation. The funding would support pilot plants, demonstration-scale refining and recycling, and associated research and development. In July, Viridion secured land in Poços de Caldas for the construction of South America’s first rare earth refining and recycling hub, the Centre for Innovation, Technology and Recycling (CRITR). The facility will replicate Ionic’s Belfast demonstration plant and target up to 30 tonnes per annum of feedstock capacity by late 2026. The Makuutu Heavy Rare Earths Project in Uganda, 60% owned by IonicRE, has gained increased attention amid global supply concerns. With a mining licence already granted for the central zone and additional applications underway, the project is being marketed to strategic investors and Mineral Security Partnership members as a low-capex, shovel-ready source of high-value MREC. The Makuutu basket contains an unusually high proportion of heavy rare earths — particularly those subject to China’s recent export restrictions — and is considered one of the most advanced IAC projects outside of China and Myanmar. During the quarter, IonicRE raised $3 million through convertible notes, with shareholder approval granted in July. The company closed the quarter with about $2.8 million in funds. Looking ahead, IonicRE will focus on advancing its Belfast commercial facility, securing grant support and FEED approvals, and pursuing development options for facilities in Brazil and the US. OpenAI’s annual revenue has climbed to $12 billion, with monthly income reaching $1 billion, according to a report by The Information. The Microsoft-backed group now counts some 700 million weekly users of ChatGPT products across consumer and business segments. OpenAI has raised its projected cash burn for 2025 to $8 billion, up from an earlier forecast of $7 billion. The company is currently seeking backers for a second, $30 billion funding round, with major backers such as Sequoia Capital and Tiger Global Management said to be committing hundreds of millions of dollars. Investors, excluding Japan’s SoftBank, are reportedly close to securing $7.5 billion in commitments for the new round. SoftBank’s total investment has reached $32 billion since last autumn.

Firebird Metals Ltd (ASX:FRB, OTC:FRBMF) has signed a mining lease agreement with the Karlka Nyiyaparli Aboriginal Corporation (KNAC) for Mining Lease 52/1086 at the company’s 100%-owned Oakover Manganese Project in the East Pilbara manganese province of Western Australia. The agreement with KNAC covers key areas related to future development work and commencement of operations at Oakover, including all necessary commercial considerations regarding financial benefits once manganese production is achieved. KNAC is a registered Native Title Body Corporate holding the Native Title under the Nyiyaparli Determination in trust for the Nyiyaparli People. Firebird managing director Peter Allen said: “The signing of the agreement with the Karlka Nyiyaparli Aboriginal Corporation for Mining Lease 52/1086 is a significant milestone for Firebird and the Oakover Project. “I would like to extend my sincere gratitude to the KNAC and the Nyiyaparli people for their efforts and professionalism in finalising this agreement. “We look forward to working with KNAC and the Nyiyaparli people through the ongoing development of Oakover and delivering long-term value to all stakeholders involved with Oakover and to the communities we operate within.” The agreement addresses key aspects related to the future development and production of Oakover, including: The successful development and commencement of operations at Oakover — a large, near-surface project which boasts a mineral resource estimate (MRE) of 176.7 million tonnes at 9.9% manganese, including 105.8 million tonnes at 10.1% manganese in the indicated category — is a critical long-term objective for Firebird. “Oakover is a large and near-surface manganese project with excellent economic numbers and an 18-year life-of-mine,” Allen said. “Firebird’s vision is to become a global leader in the manganese industry by seamlessly combining mining and downstream processing, with a focused dedication to the advancement of Li-ion and Na-ion battery sectors.” “Stage One of our battery-grade manganese sulphate operations will be in China, where we are successfully working towards establishing a battery-grade manganese and tetra-oxide plant in Jinshi, Hunan Province, China." Following Stage One of battery-grade manganese sulphate and tetra-oxide operations in China, Firebird will look to commence Stage Two operations in China and a future western location. Key work streams at Oakover over the next 12 months remain focused on the completion of environmental studies and surveys as the company works its way to EPA referral for the project. “Stage Two of downstream processing operations will be located both in China and a future western location and will place Firebird in a strong position to supply the growing demand from non-Asian countries at the end of this decade. “Stage Two will be reliant on the successful development of Oakover to utilise ore from operations.” Oakover is Firebird’s flagship project within its portfolio of exploration and development projects in the East Pilbara manganese province. Its other key project is Hill 616, which contains an inferred MRE of 57.5 million tonnes at 12.2% manganese and shares similar geological traits to Oakover. Firebird is focused on combining mining and downstream processing with a dedication to advancing the EV battery sector. The company is progressing a unique China-focused lithium manganese iron phosphate (LMFP) battery strategy, which will develop Firebird into a near-term producer of high-purity, battery-grade manganese sulphate, a key cathode material in LMFP batteries for electric vehicles. Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) has received validation of its plans to build a magnet rare earth recycling facility in the Minas Gerais region of Brazil through its Viridion joint venture (JV) from Brazilian investment promotion agency Invest Minas. IXR proposes to leverage its proprietary magnet rare earth recycling technology already being demonstrated in Belfast, Northern Ireland, to build a sustainable, traceable and sovereign circular rare earth supply chain in Brazil alongside JV partner Viridis Mining and Minerals Ltd (ASX:VMM). “IonicRE is building a global industrial business and Brazil is an important piece of this puzzle, being a major advanced manufacturer at the heart of the South American economy,” Ionic Rare Earths executive chair Brett Lynch said. “Having shown the strong financial returns and environmental sustainability of our Belfast model, we look forward to replicating this across new markets in North and South America, Asia and elsewhere to unlock increased value for shareholders in creating a secure and sustainable ex-China rare earths supply chain.” Read: Ionic Rare Earths lodges UK Government grant application for commercial magnet REO recycling facility IXR believes its proposed magnet rare earth oxide (REO) recycling facility in Brazil has the potential to offer strong financial returns and environmental sustainability, based on a feasibility study completed on the Ionic Technologies’ Belfast facility. Read: Ionic Rare Earths Belfast recycling facility feasibility study points to supply chain, green energy wins “Minas Gerais is constantly reinventing itself to remain at the forefront of the innovations that the world demands,” Invest Minas director of Investment Attraction Ronaldo Barquette said at a meeting in Belo Horizonte last week. “A notable example is the rare earth magnet recycling project, made possible through a partnership between the State Government, institutions such as FIEMG, universities and private companies such as Ionic Rare Earths, Viridis, among others. “The Government remains committed to ensuring that these companies find the ideal environment in Minas Gerais to establish themselves and expand, making the most of our highly qualified workforce and our natural resources. “Our commitment is to ensure the greatest possible generation of income and jobs for the State.” The company intends to develop an REO manufacturing facility that will recycle pre-consumer rare earth magnet scrap and end-of-life magnets into useful and valuable materials. The Viridion JV recently signed a five-year memorandum of understanding (MoU) with SENAI FIEMG Innovation and Technology Centre, owner of Lab Fab, South America’s first rare earth magnet laboratory, to jointly develop and produce rare earth magnets at Lab Fab. Read: Ionic Rare Earths JV inks MoU with owner of first rare earth magnet lab in South America “IonicRE has received strong support from Minas Gerais as the most logical and feasible alternative for building a domestic rare earths supply chain independent of China,” Ionic Rare Earths business development manager LATAM Gabriel Longo dos Santos said. “Meeting participants were particularly impressed by the data from the recent feasibility study for Ionic Technologies, especially its positive EBITDA (earnings before interest, taxes, depreciation, and amortisation), which showed a clear measurement of the potential profitability of such a plant in Brazil. “Overall, the reception was excellent, with the Minas Gerais authorities seeing IonicRE as providing an essential solution for the state’s critical minerals industry.” Viridion holds exclusive rights in Brazil to monetise, implement and commercialise Ionic Technologies’ magnet recycling intellectual property. The company is discussing the location of pilot plants for a potential REO refinery and magnet recycling facilities with the Minas Gerais authorities, with an eye to sites near existing Viridis Colossus Project operations in Minas Gerais. IXR believes Brazil can offer substantially lower operating costs in converting alloy feedstock to REO product in Brazil compared to other markets. “Brazil has enormous potential as a new market for our patented magnet recycling technology, with magnet recycling likely the first step in developing a domestic integrated supply chain,” IXR managing director Tim Harrison said. “The production of magnet REOs within Brazil will enable the ramp-up of magnet production capability at CIT SENAI’s LabFab facility, which is targeting a ramp-up in neodymium-iron-boron (NdFeB) production to 100 tonnes per annum by the end of 2026.” Harrison said the company also planned to recycle waste streams produced in the ramp-up of operations, enabling the development of an insulated and secured NdFeB supply chain in Brazil that could support “significant advanced manufacturing activities”. “Brazil represents a very exciting opportunity for the company,” Harrison continued. “The South American giant is currently the world’s seventh largest wind energy market, growing at 29% compounding annual growth rate (CAGR) over the past decade, and will be a wind energy powerhouse into the future. “Additionally, the establishment of EV production capacity in Brazil along with existing and growing advanced manufacturing capacity will drive further demand for REO’s in what is presently the world’s 10th largest economy. “IonicRE and Viridion are delighted by the strong support from Invest Minas and look forward to replicating our Belfast model in Brazil, working closely with our partners to fast-track its development and deliver on Brazil’s vision of an integrated REE supply chain.”

Fourth-quarter net revenue of $86.1 million Full year 2023 revenue of $334.9 million Fourth-quarter gross margin of 27.8% and Variable Marketing Margin (VMM) of 31.2%1 Full year gross margin of 24.7% and VMM of 28.9% Receives $22 million in new financing from existing lenders Initiates review of potential strategic alternatives to maximize value CLEARWATER, Fla., April … The post Digital Media Solutions, Inc. Announces Fourth Quarter And appeared first on Headlines of Today...

We review CEF market valuation and performance over the second week of November and highlight recent market events. Discounts mostly rallied this week despite broadly lower NAVs due to rising Treasury yields and lower stocks.