Interview With Ucore Rare Metals' Key Technology Partners

TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

The following interview was conducted on May 15th-18th via phone and email by Peter Epstein, CFA, MBA. The opinions expressed herein are entirely those of the three named individuals. Please see a direct link to applicable disclosures and two excellent links regarding Ucore & MRT at the bottom of the interview. Ucore Rare Metals is a speculative, small cap company that may not be suitable for all investors. Readers should conduct their own due diligence, including visiting the company’s website and consulting with their own investment advisors. Note: [This article does not incorporate news released after May 18th. For instance, an important press release was released on May 20th. This and other news flow will be addressed in subsequent article(s)].

I would like to thank Steve & Reed Izatt, PHD of IBC Advanced Technologies and Mark McDonald of Ucore Rare Metals (UCU.V) (UURAF) for taking a considerable amount of time answering follow up questions I had about Molecular Recognition Technology, “MRT.” I grilled the Izatts about Ucore’s proposed use of MRT because my prior article on Ucore Rare Metals attracted some criticism. Skeptics are to be expected and management, technology partners and independent advisors are available to discuss opposing points of view. Over the decades, “new” technologies in the processing of metals & minerals have been fraught with failures. I believe some of the pushback on MRT might be from painting all new technologies with the same brush.

In doing research on peer REE juniors, several propose the use of their own separation technologies. My view on MRT is that it’s one of several that might come to fruition in coming years. However, MRT appears to stand out in that it could be used for third-party processing or reclamation applications. That would allow Ucore to generate revenue this year or next. Other company’s proposed separation technologies seem to apply solely to their own projects.

My intent in interviewing the Izatts and Mark was to better understand what they believe, (biased as they are) and convey that view so that readers can make their own judgments.

Peter: There’s been both skepticism and supporters of MRT. Have you received more or less skepticism than youexpected?

Steve: I think that people have their own agendas. I don’t mean that in a disparaging manner, just that potentially revolutionary technologies always face skeptics. The REE investment space has historically not been populated by people with scientific or engineering backgrounds. It’s easy to say something won’t work. But the discussion should center on chemical and engineering principles. Persons with processing and technical backgrounds have spoken favorably of our technology and its scalability.

We have separated the entire suite of individual rare earths. This offers incontrovertible proof that our MRT process works at lab scale. We have scaled up numerous other projects outside of REEs based on our proprietary SuperLig® products. The proven separation characteristics of MRT, coupled with our actual accomplishments in scaling up similar processes should give investors significant confidence.

Peter: It’s my understanding that the MRT process is more of a physical or mechanical process?

Steve: The MRT process uses selective SuperLig® resins incorporated in columns through which REE-containing, Pregnant Leach Solution(s), “PLS” are pumped. We have designed proprietary SuperLig® products consisting of silica or polymeric beads to which selective chemical ligands are attached. These ligands selectively coordinate (or bind) the metal of interest based on coordination chemistry principles. Unwanted metals pass on to the raffinate. Once bound to the SuperLig®, the targeted metal can be stripped (or eluted) off the column in pure form through contact with dilute acid, which causes the ligand-metal bond to part. The SuperLig® beads are contained within columns. The PLS is pumped through the columns and the REE are selectively separated, first from the gangue metals such as iron, aluminum, uranium, thorium and then from each other. IBC has been installing similar processes for over 25 years. We’re confident about the scalability of the process and that it will be green and low cost.

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