Ionic Rare Earths (IXR) Precious Metals & Critical Minerals Virtual Investor Conference summary

Strategic focus and technology development

• Emphasis on building a resilient, integrated supply of magnet and heavy rare earth oxides for Western markets, with a focus on recycling as the fastest route to new supply.

• Proprietary rare earth separation technology developed by a UK subsidiary, targeting both primary and recycled sources.

• Technology is at an advanced readiness level, with plans to commercialize in the UK and expand to the US.

• Closed-loop supply chain established in the UK, with partnerships across metals, alloys, and magnet manufacturing.

• Technology enables separation of high-value elements like neodymium, praseodymium, dysprosium, terbium, and other heavy rare earths.

Expansion, partnerships, and geographic reach

• MOU signed with a partner in Missouri and ongoing discussions for further US expansion; joint venture in Brazil (Viridion) to develop recycling and refining capacity.

• Two assets included in the US FORGE program, classified as strategically important for Western supply chains.

• UK government support includes a GBP 12 million grant for a Belfast plant, with further funding discussions underway.

• Brazilian government support for Viridion, including land and financing under a $1.4 billion initiative.

• Strategic partnerships established with major industry players and customers in the UK, US, Brazil, and Uganda.

Market dynamics and economic outlook

• Western demand for heavy rare earths is surging due to Chinese export restrictions, causing significant price escalation for elements like dysprosium, terbium, and yttrium.

• Recycling offers a scalable, non-depleting supply alternative, with plans for multiple plants in key Western markets.

• Belfast plant feasibility study shows a capital cost of GBP 85 million, 2.5-year payback, and projected EBITDA of $90 million per year.

• Makuutu project in Uganda features a high proportion of heavy rare earths, with a capital development estimate of $150 million and strong strategic value.

• Company is positioned to benefit from regional incentives, tax credits, and supportive government policies in the UK, US, and Brazil.