EDITOR: | March 3rd, 2015 | 6 Comments

Ucore Secures Rights to SuperLig® Molecular Recognition Technology for Rare Earth Separation, Recycling and Tailings Processing Applications

| March 03, 2015 | 6 Comments
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Ucore-Rare-Metals-200x125March 3, 2015 (Source: Marketwired) — Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) (“Ucore” or “the Company”) is pleased to announce that it has entered into an agreement with IBC Advanced Technologies Inc. (“IBC”) to acquire the exclusive rights to IBC’s SuperLig® Molecular Recognition Technology (“SuperLig®” or “MRT”) for rare earth separation and recycling applications, in addition to tailings processing applications.

Under the terms of the license agreement (the “Agreement”), Ucore has agreed to pay a one-time licensing fee to IBC in the amount of USD $2.9 million (the “Licensing Fee”). The payment is subject to the delivery by IBC of a fully operational rare earth SuperLig® pilot plant (“Pilot Plant”) and due diligence review by Ucore. The Pilot Plant will be constructed at SepraMet, IBC’s wholly owned subsidiary in Houston, Texas.

Under the terms of the Agreement, upon the satisfactory completion of the foregoing terms and conditions at Ucore’s discretion, the parties agree to constitute a joint venture for the purpose of marketing and purveying SuperLig® products and services exclusively to world markets in the rare earth, recycling and tailings processing sectors (the “Joint Venture”). The Joint Venture will involve utilizing IBC’s proprietary technology regarding advanced metals separation and recovery technology on a royalty free basis and applying it to the REE, recycling and tailings processing markets worldwide. Ucore will have a controlling interest (60%) in the Joint Venture, while IBC will retain a 40% beneficial interest.

“This is an important step for Ucore in obtaining the capabilities of an integrated provider of rare earth products from mine to metal,” said Jim McKenzie, President & CEO of Ucore. “MRT is a remarkable technology, already used extensively around the world in non-REE mining applications, where advanced SuperLig® circuits are currently used to liberate high purity PGM’s and specialty metals. We’re delighted that IBC, the recognized world leader in the highly specialized field of MRT, has now partnered with Ucore to bring this extensively proven separation platform to the rare earth sector. Perhaps most importantly, our licensing arrangement includes the application of SuperLig® technology to the world recycling and tailings processing sector – both for the recovery of rare earths and all other metals.”

“Rare earth operations have long sought a clean and cost effective alternative to traditional solvent extraction technology, and our belief is that the alternative is MRT,” said Ken Collison, COO of Ucore. “The SuperLig® process is environmentally friendly, and integrates well with Ucore’s standards of exceptional environmental stewardship and economic efficiency.”

Ucore will be presenting an overview of MRT SuperLig® technology as it applies to rare earth applications at the Producers and Developers Association Conference (PDAC) in Toronto on Tuesday March 3, 2015. For additional information on the MRT process, please see the following link: http://mrt.ucore.com.

Steven R. Izatt, President and CEO of IBC has approved the scientific and technical content of this news release and is the Qualified Person responsible for its accuracy. Mr. Izatt holds an M.S. in Chemical Engineering Practice and an M.S. in Technology and Policy, both from the Massachusetts Institute of Technology (MIT).

About IBC

IBC Advanced Technologies, Inc. is an award-winning, green chemical selective separations company based on innovative MRT products. Headquartered in American Fork, Utah, with manufacturing facilities in Utah and Houston, Texas, IBC has supplied industrial, governmental and academic customers worldwide with environmentally friendly products, processes and services for over 27 years.

IBC specializes in MRT, utilizing green chemistry to achieve highly selective separations of metal ions in complex matrices. Based on Nobel Prize-winning technology (1987), IBC’s proprietary products and processes are used worldwide by premier metals refining and mining companies such as Tanaka Kikinzoku K.K. (Japan), Asarco Grupo Mexico (USA), Impala Platinum Ltd. (South Africa), and Sino Platinum (China). The Japanese Government (Mitsubishi Research, Inc.) recently awarded to IBC a highly competitive subsidy grant, “Demonstration Project for Seawater Purification Technologies”, concerning the selective separation of the radionuclides strontium and cesium from contaminated seawater at Fukushima, Japan.

IBC’s expertise is illustrated by its extensive development and commercialization of separations systems for platinum group metals (“PGM’s”) at a world level. PGM’s are analogous to the rare earth elements, in that they are considered difficult to selectively separate due to their constituent chemical similarities.

The Ucore-IBC alliance builds on IBC’s proven capabilities to develop, scale-up and commercialize selective separations systems for a number of diverse and complex applications. See www.ibcmrt.com for additional information.

About Ucore

Ucore Rare Metals Inc. is a development-phase mining company focused on establishing rare metal resources and beneficiation technologies with near term potential for production, growth and scalability. With multiple projects across North America, Ucore’s primary focus is the 100% owned Bokan – Dotson Ridge REE property in Alaska. The Bokan – Dotson Ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in developing near term production facilities and limiting the capital costs associated with mine construction.

For further information, please visit http://www.ucore.com.

This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities, development timelines, and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined by the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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Comments

  • hackenzac

    Savvy deal making Ucore!

    March 3, 2015 - 11:35 AM

  • Fixed

    Sounds like Ucore is now destine to be at the mercy of IBC’s MRT. That’s good for them hope it is a big success. Will be interesting to see how the wannabes like Ucore and the rest make their choices on separation. Wasn’t that long ago it was SPE. So sink or swim Ucore has made it’s decision and are going to their money where their mouth is. Let the cash begin to burn and see where they are one year from this historical day…Next…? Next in line in the REE wannabe race…Who’s next…?…LoL….

    March 3, 2015 - 12:24 PM

  • David Mortimer

    Sarcastic condescending post by someone who seems to have a grudge against Ucore.

    March 3, 2015 - 5:28 PM

  • JOE O

    I like the fact that UCORE is getting a potential revenue stream from Royalties if MRT is the real deal. It sounds really promising but my scientific backround is nil. Lets hope 3 years from now this stock is $2+

    March 3, 2015 - 5:30 PM

  • Jackie Jackie

    According to one commentator MRT still has a long way to go ..

    Investors should note that this is certainly a positive accomplishment, but a couple of crucial issues remain before Ucore can definitively include MRT separation in its feasibility study.

    The first is that IBC has not yet proven that it can perform this separation economically. This is a crucial issue that needs to be resolved before the market will recognize MRT as a viable separation technology. After all those who follow the company will recall that it had been pursuing another alternative to solvent extraction called solid phase extraction. In fact Ucore put out a somewhat similar press release in October 2012 in which it discussed how it had used solid phase extraction to separate out some key REEs including dysprosium. Management abandoned the process because it became clear that while it works in the lab it will be difficult to develop the process on a commercial scale. In effect Ucore is at a similar point with MRT as it was with solid phase extraction, and investor skepticism is appropriate until MRT’s economic viability is demonstrated

    The second is that while it is great that Ucore has achieved these purity levels they are currently insufficiently pure for many commercial applications. For instance for some optical glass formulations lanthanum is needed at a purity level of 99.999%. Similar examples exist for other metals/applications and as a result Ucore’s results do not demonstrate that the company has produced a product that can compete with the Chinese’s.

    What This Means
    Ucore has by no means found a solution to its separation problem, and Monday’s press release should be viewed as a progress report rather than a solution. Investors should take away from this that MRT continues to have a reasonable chance of supplanting solvent extraction as a legitimate REE separation technology, and this chance is greater than it was prior to this announcement. In short this is good news, but investors shouldn’t blow it out of proportion. Ucore still has a lot to prove to the market, and for this reason the stock remains speculative.

    March 5, 2015 - 7:56 AM

  • Fred

    The important thing isn’t how many nines in the purity level you can supply, it’s how many nines are required to have a useful product. Perfection that isn’t useful is actually a defect, in that it’s wasted effort at producing an unnecessary level of purity. I doubt that any of the REE juniors are contemplating ultra-pure lanthanum. But they’ll have to cater to the wishes of their potential markets, and I doubt we’ll see too much solid data on this, since this is the realm of proprietary technology. But the Metal Pages are listing prices at 99.0% purity, which fits in nicely with the MRT results.

    IBC is a private company, so I can’t easily invest in it. What I really love about this announcement is that Ucore will own 60% of the joint venture, and Ucore is publicly traded.

    March 5, 2015 - 5:21 PM

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