REalloys Reports Third Quarter 2026 Results

(NASDAQ: ALOY) REalloys Inc. reported third quarter 2026 results, with net revenues of $0.4 million compared to $0.2 million in Q3 2025. The company recorded a net loss of $30.5 million, or $0.44 per diluted share, versus a net loss of $25.6 million, or $0.58 per diluted share, in the prior-year quarter. The net loss was primarily driven by $25.3 million of non-cash stock-based compensation related to director, officer, and consultant equity awards, mainly granted during the February 2026 Nasdaq listing. As of September 30, 2026, the cash balance was approximately $116.2 million, with $197.4 million in total assets and $123.4 million in working capital. REalloys deployed $16.5 million to SRC programs in the first nine months of 2026, including $11.6 million for the Heavy Rare Earth Metallization Facility, $3.7 million for the Rare Earth Processing Facility upgrade, and $1.2 million for process development. For the nine months ended September 30, 2026, net revenues were $1.9 million, up from $0.6 million in the prior-year period, and net loss was $174.1 million, or $2.83 per diluted share, compared to a net loss of $29.5 million, or $0.75 per diluted share, in the prior-year period. The nine-month net loss included $158.2 million of non-cash charges, mainly $139.2 million of stock-based compensation, $9.2 million of preferred share accretion, a $6.4 million impairment related to assets from the Blackboxstocks merger, and a $3.4 million change in the fair value of settled derivatives. General and administrative expense for Q3 2026 was $30.3 million, including $25.3 million of non-cash stock-based compensation; excluding this, adjusted general and administrative expense was $4.9 million. The company maintained a virtually debt-free balance sheet. Euclid facility sales contributed to revenue growth with a gross margin of approximately 36%. Remaining commitments under SRC development agreements were approximately $56.0 million as of September 30, 2026, expected to be incurred through 2028. REalloys is advancing engineering and procurement for its Heavy Rare Earth Metallization Facility, targeted for commissioning in Q1 2028 and initial operations in H1 2028, with an estimated annual processing capacity of about 50 tonnes of combined dysprosium and terbium oxide feedstock. The SRC Rare Earth Processing Facility upgrade is underway, with initial funding directed to NdPr metallization units, representing about one-third of the total upgrade budget. The upgrade aims to increase annual production capacity to approximately 525 tonnes of NdPr metal, 30 tonnes of dysprosium oxide, and 15 tonnes of terbium oxide. REalloys has secured supply rights to about 80% of the facility's output and a Right of First Refusal on the remainder. Processing and separation trials using recycled feedstock at SRC are ongoing through H1 2027, with initial separated oxide production expected in H2 2027 and commercial intake of NdPr metal and dysprosium and terbium oxides from SRC to begin in Q3 2027. The company targets initial production of approximately 3,000 tonnes per year of magnets by 2030, supported by targeted annual production of up to 1,250 tonnes of NdPr metal, 60 tonnes of dysprosium metal, and 25 tonnes of terbium metal. REalloys is evaluating Tooele Army Depot as a potential site for these facilities and has executed a non-binding term sheet with the U.S. Army for a facility on about 200 acres at Tooele Army Depot, Utah, with an initial 50-year term and one 25-year renewal, subject to Army consent and other conditions. The company plans to spend approximately $10 million through 2027 on research and development, piloting, and product qualification, centered at the Euclid facility. The company expects to fund its committed programs from existing cash and is sequencing spending to technical and commercial milestones.

The U.S. Just Took A Big Step to Break China's Magnet Dominance

(NASDAQ: ALOY) REalloys has signed a strategic agreement with permanent magnet manufacturer JS Link to develop one of the first fully integrated non-Chinese rare earth magnet platforms, bringing together feedstock, separation, metallization, and permanent magnet manufacturing under a single North American industrial strategy. REalloys committed approximately $20.6 million to expand the Saskatchewan Research Council’s rare earth processing facility, securing preferred rights to up to 80% of its expanded output, including neodymium-praseodymium metal and separated dysprosium and terbium oxides. Commercial production is targeted to begin in early 2027, with the first qualification-scale materials expected in the fourth quarter of 2026. REalloys holds a definitive long-term offtake agreement for 15% of Phase 1 production from Critical Metals’ Tanbreez project in Greenland, a strategic alliance and offtake commitment tied to the Sheep Creek rare earth deposit in Montana, and a proposed supply framework with Ramaco Resources for coal-hosted rare earth material from the Brook Mine platform in Wyoming. The company is funding a dedicated heavy rare earth metallization facility expected to become the largest heavy rare earth metallization operation outside China. The agreement creates a path to manufacturing American rare earth magnets entirely on American soil, ahead of the Department of Defense’s January 1, 2027, ban on Chinese-origin rare earth magnets. The company projects that North American-produced dysprosium, terbium and NdPr will be in customers’ hands for evaluation ahead of commercial production.

China’s Rare Earth Strategy Is Forcing a U.S. Manufacturing Revolution

(NASDAQ: ALOY) REalloys raised approximately $100 million from institutional investors in June to accelerate its vertically integrated mine-to-magnet platform, including what the company says will become the largest heavy rare earth metallization facility outside China and the Western Hemisphere’s first commercial-scale heavy rare earth metallization platform. The company secured exclusive commercial agreements with the Saskatchewan Research Council (SRC) for long-term access to separated heavy rare earth materials, and signed a 15-year definitive offtake agreement with Critical Metals Corp. covering 15% of Phase 1 production from the Tanbreez Project in Greenland. In March, the U.S. Defense Logistics Agency (DLA) awarded REalloys a contract worth up to $1.7 million to design a modular facility capable of producing up to 300 metric tons per year of samarium and gadolinium metals. The facility is expected to produce approximately 30 tonnes of dysprosium and 15 tonnes of terbium metal annually, with equipment to be built and commissioned in Saskatoon before relocation to Euclid, Ohio. REalloys signed a strategic agreement with permanent magnet manufacturer JS Link to develop one of the first fully integrated non-Chinese rare earth magnet platforms. The company projects its first commercial facilities are expected to come online in the New Year, coinciding with the Pentagon’s ban on Chinese-origin rare earth magnets.

The U.S. Army Just Took a Historic Step to Break China's Rare Earth Dominance

(NASDAQ: ALOY) REalloys has been selected by the U.S. Army to build and operate the first-ever commercial critical mineral processing operation on a U.S. military installation, specifically at the Tooele Army Depot in Utah. The Tooele platform is expected to support the U.S. Army, the Defense Logistics Agency, the Department of Energy, and NASA, with commercial development targeted to begin in 2027 and initial operating capability expected no later than 2028. REalloys committed approximately $20.6 million to upgrades at the Saskatchewan Research Council’s rare earth processing facility, securing exclusive supply rights for 80% of the facility’s expanded output, including NdPr metal and dysprosium and terbium oxides. The company has secured a definitive long-term offtake agreement for 15% of Phase 1 production from Critical Metals’ Tanbreez project in Greenland, and is building a dedicated heavy rare earth metallization facility for dysprosium and terbium metals. Engineering is underway, major equipment procurement has begun, and qualification materials are expected as early as the fourth quarter of 2026. The company projects initial commercial production at SRC for early 2027 and expects to begin qualification efforts for defense-grade heavy rare earth materials by the end of 2026.

REalloys Inc. (Nasdaq: ALOY) Announces Closing of $100 Million Private Placement

(NASDAQ: ALOY) REalloys Inc. announced the closing of its previously announced private placement for the purchase and sale of an aggregate of 7,017,540 shares of common stock at a purchase price of $14.25 per share, resulting in aggregate gross proceeds of approximately $100 million, before deducting placement agent fees and estimated offering expenses. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. Clear Street LLC acted as the sole placement agent for the offering, while Haynes and Boone, LLP served as legal counsel to REalloys and Paul Hastings LLP served as legal counsel to Clear Street LLC. The securities being sold in the offering have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of Common Stock sold in the private placement. REalloys Inc. is advancing a fully integrated North American mine-to-magnet supply chain encompassing upstream resource development, midstream processing, and downstream manufacturing. The company projects the anticipated use of net proceeds from the offering and its broader mine-to-magnet strategy.

REalloys (NASDAQ: ALOY) Announces Landmark Partnership Agreement with The United States Army & Army’s Strategic Capital Initiatives to Operate Processing Facilities on The Tooele Army Base in Utah

(NASDAQ: ALOY) REalloys Inc. has been conditionally selected by the United States Army to enter into exclusive contract negotiations for a long-term Enhanced Use Lease to design, finance, build, and operate heavy rare earth processing facilities at the Tooele Army Depot, Utah. The development is targeted as early as 2027, with Initial Operating Capability targeted no later than 2028, to align with the January 1, 2027, US federal procurement ban on Chinese materials in the Defense Industrial Manufacturing Base. The partnership is expected to be delivered through an Enhanced Use Lease that is expected to require no taxpayer subsidies, with the private partner bearing the costs to finance, design, build, operate, secure, and decommission the facility. The planned facilities will refine heavy rare earths, including Dysprosium (“Dy”) & Terbium (“Tb”), which are essential to national security and used in the Defense Industrial Manufacturing Base for high-temperature permanent magnets. REalloys intends to draw on secure, allied feedstock — including Canadian heavy rare earth supply — to feed its downstream separation, metallization, and magnet operations. The company believes domestic processing capacity for Dy and Tb is one of the most strategically scarce links in the Western rare earth supply chain. The company projects development to begin as early as 2027 and Initial Operating Capability no later than 2028, subject to finalization of definitive agreements and completion of required environmental and regulatory reviews.

REalloys Inc. (Nasdaq: ALOY) Announces Private Placement of Common Stock for Gross Proceeds of Approximately $100 Million

(NASDAQ: ALOY) REalloys Inc. announced that it has entered into a securities purchase agreement with institutional investors for the purchase and sale of common stock resulting in aggregate gross proceeds of approximately $100 million. The offering is expected to close on or about June 26, 2026, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. Clear Street LLC is acting as the sole placement agent for the offering, with Haynes and Boone, LLP serving as legal counsel to REalloys and Paul Hastings LLP serving as legal counsel to Clear Street LLC. The securities being sold in the offering have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of Common Stock sold in the private placement. The company projects the offering to close on or about June 26, 2026, and anticipates using the proceeds for working capital and general corporate purposes.

China’s Antimony Ban Sent Prices Up 2,600%. Rare Earths Are Next

(NASDAQ: ALOY) — REalloys, a U.S.-based mine-to-magnet rare earth company, closed an upsized $50 million public offering in March, directing roughly $40 million toward building the largest heavy rare earth metallization facility outside China. The company holds an exclusive 80% offtake from the only non-Chinese rare earth processing plant in North America capable of processing heavy rare earths and operates its own metallization facility in Euclid, Ohio. REalloys sources feedstock from the U.S., Canada, Brazil, Kazakhstan, and Greenland, with no Chinese inputs at any step. Terbium prices are up 103% just this year, and dysprosium and terbium from non-Chinese sources are now trading at three to four times Chinese domestic prices. China’s rare earth magnet exports to the United States fell 22.5% year-over-year in the first two months of 2026. The company projects that the new DFARS procurement rules taking effect January 1, 2027, will ban Chinese-origin rare earths from the entire U.S. defense supply chain, and Pentagon demand for rare earth magnets is expected to triple by 2030 to roughly 10,000 tons annually. In March, Joe Kasper, former Chief of Staff to the U.S. Secretary of Defense, was appointed Chair of REalloys' Advisory Board.

REalloys (NASDAQ: ALOY) Receives Department of War Memorandum on Securing Domestic Heavy Rare Earth Supply Ahead of 2027 Deadline

REalloys Inc. (NASDAQ: ALOY) announced receipt of a Department of War memorandum emphasizing the urgency to secure domestic heavy rare earth elements (HREE) ahead of a January 2027 prohibition on Chinese-origin rare earth materials. The memorandum highlights Dysprosium (Dy) and Terbium (Tb) as critical HREEs and aligns with REalloys’ strategy to build HREE processing facilities in North America. REalloys operates the only heavy rare earth metallization platform in North America and is constructing the largest such facility outside of China, designed to produce defense-grade metals at commercial scale. The company has secured a long-term offtake for 80% of the output from the Saskatchewan Research Council's facility and utilizes a patent-pending hydrofluoric-acid-free fluorination process. This development is significant for investors as it positions REalloys at the forefront of the U.S. effort to secure a sovereign HREE supply chain.

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