American Rare Earths Engages BMO Capital Markets as Financial Adviser
American Rare Earths (ARRNF) has engaged BMO Capital Markets as its financial adviser to accelerate the development of the Halleck Creek Project in Wyoming. BMO will explore strategic investments, joint ventures, mergers and acquisitions, and offtake agreements. This follows the establishment of Wyoming Rare USA Inc. as a dedicated U.S. subsidiary. The project, recognized as one of North America's largest rare earth deposits, has received support from Wyoming Energy Authority and a Letter of Interest from the U.S. Export-Import Bank. The engagement aims to position Halleck Creek as a cornerstone of the U.S. critical minerals supply chain, capitalizing on growing U.S. support for domestic critical minerals production.
American Rare Earths (ARRNF) ha incaricato BMO Capital Markets come proprio consulente finanziario per accelerare lo sviluppo del Progetto Halleck Creek in Wyoming. BMO esplorerà investimenti strategici, joint venture, fusioni e acquisizioni, e accordi di fornitura. Questo seguito alla costituzione di Wyoming Rare USA Inc. come filiale dedicata negli Stati Uniti. Il progetto, riconosciuto come uno dei più grandi giacimenti di terre rare del Nord America, ha ricevuto supporto dall'Autorità Energetica del Wyoming e una Lettera di Interesse dalla U.S. Export-Import Bank. L'incarico mira a posizionare Halleck Creek come pietra miliare della catena di approvvigionamento dei minerali critici negli Stati Uniti, capitalizzando sul crescente sostegno degli Stati Uniti per la produzione nazionale di minerali critici.
American Rare Earths (ARRNF) ha contratado a BMO Capital Markets como su asesor financiero para acelerar el desarrollo del Proyecto Halleck Creek en Wyoming. BMO explorará inversiones estratégicas, empresas conjuntas, fusiones y adquisiciones, y acuerdos de compra. Esto sigue a la creación de Wyoming Rare USA Inc. como una filial dedicada en EE. UU. El proyecto, reconocido como uno de los depósitos de tierras raras más grandes de América del Norte, ha recibido apoyo de la Autoridad de Energía de Wyoming y una Carta de Interés del Banco de Exportación e Importación de EE. UU. El compromiso tiene como objetivo posicionar Halleck Creek como una piedra angular de la cadena de suministro de minerales críticos en EE. UU., aprovechando el creciente apoyo estadounidense para la producción nacional de minerales críticos.
American Rare Earths (ARRNF)는 BMO Capital Markets를 재정 고문으로 고용하여 와이오밍의 할렉 크릭 프로젝트 개발을 가속화합니다. BMO는 전략적 투자, 합작 투자, 인수합병 및 구매 계약을 탐색할 것입니다. 이는 와이오밍 레어 USA Inc.의 설립에 따른 것입니다. 이 프로젝트는 북미 최대의 희토류 광산 중 하나로 인정받고 있으며, 와이오밍 에너지 당국의 지원과 미국 수출입은행의 관심 서한을 받았습니다. 이번 고용의 목표는 할렉 크릭을 미국의 주요 광물 공급망의 초석으로 삼고, 국내 주요 광물 생산에 대한 미국의 증가하는 지원을 활용하는 것입니다.
American Rare Earths (ARRNF) a engagé BMO Capital Markets en tant que conseiller financier pour accélérer le développement du projet Halleck Creek dans le Wyoming. BMO explorera les investissements stratégiques, les coentreprises, les fusions et acquisitions, ainsi que les accords d'approvisionnement. Cela fait suite à la création de Wyoming Rare USA Inc. en tant que filiale dédiée aux États-Unis. Le projet, reconnu comme l'un des plus grands gisements de terres rares en Amérique du Nord, a reçu le soutien de l'Autorité de l'énergie du Wyoming et une lettre d'intérêt de la Banque d'Export-Import des États-Unis. L'engagement vise à positionner Halleck Creek comme une pierre angulaire de la chaîne d'approvisionnement en minéraux critiques aux États-Unis, en capitalisant sur le soutien croissant des États-Unis pour la production nationale de minéraux critiques.
American Rare Earths (ARRNF) hat BMO Capital Markets als seinen Finanzberater engagiert, um die Entwicklung des Halleck Creek Projekts in Wyoming zu beschleunigen. BMO wird strategische Investitionen, Joint Ventures, Fusionen und Übernahmen sowie Abnahmeverträge prüfen. Dies folgt der Gründung von Wyoming Rare USA Inc. als eigener Tochtergesellschaft in den USA. Das Projekt, das als eines der größten Vorkommen seltener Erden in Nordamerika anerkannt ist, hat Unterstützung von der Wyoming Energy Authority und ein Interessenbekundungsschreiben der U.S. Export-Import Bank erhalten. Das Engagement zielt darauf ab, Halleck Creek als Eckpfeiler der Versorgungskette für kritische Mineralien in den USA zu positionieren und den wachsenden amerikanischen Support für die nationale Produktion kritischer Mineralien zu nutzen.
- Secured BMO Capital Markets, a global leader in mining financial advisory, as financial adviser
- Project received grant support from Wyoming Energy Authority
- Obtained Letter of Interest from U.S. Export-Import Bank
- Halleck Creek recognized as one of North America's largest rare earth deposits
- None.
Strategic Engagement to Accelerate Development of the Halleck Creek Project
DENVER, Nov. 18, 2024 (GLOBE NEWSWIRE) -- American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) ("ARR" or "the Company") is excited to announce the engagement of BMO Capital Markets Limited (“BMO”), a globally recognized leader in metals and mining financial advisory, as its financial adviser. This engagement represents a major step forward in ARR’s vision to establish the Halleck Creek Project in Wyoming as a cornerstone of the U.S. critical minerals supply chain. Working closely with ARR and its U.S.-based subsidiary, Wyoming Rare USA Inc. (“WRI”), BMO will spearhead efforts to explore strategic investments, joint ventures, mergers and acquisitions, and/or offtake agreements that support the accelerated development of this high-potential project.
Strategic Alignment with Halleck Creek Development
This engagement follows ARR’s August 12th announcement regarding the establishment of WRI as a dedicated U.S. subsidiary, designed to attract domestic partnerships and streamline investment in Halleck Creek. Recognized as one of North America’s largest rare earth deposits, the Halleck Creek Project has garnered significant interest due to its scale and strategic value. ARR and WRI believe that partnering with BMO, a globally respected leader in metals and mining financial advisory, is a critical step in positioning Halleck Creek as a cornerstone of the U.S. rare earth supply chain.
Seizing a Unique Moment for Critical Minerals in the U.S.
With U.S. bipartisan support for onshoring critical minerals and reducing dependence on foreign sources, the focus on domestic supply chains has never been more significant. ARR is positioned to play a vital role in this national agenda with Halleck Creek positioned to potentially become a major critical minerals mine and processing facility in the U.S. The timing of our engagement of BMO could not be better, as it aligns with strong political momentum and demand for secure, U.S.-based rare earth supply chains. This engagement positions ARR to capitalize on these favorable market dynamics and contribute to the U.S. goal of self-sufficiency in critical minerals.
Strategic Importance of Halleck Creek for Wyoming
The Halleck Creek Project has received significant support from the state of Wyoming, underscoring its importance to the local economy and its alignment with Wyoming’s broader economic goals. Earlier this year, the Wyoming Energy Authority awarded a grant to ARR to support the advancement of the project, recognizing its potential as a cornerstone of the state’s critical minerals sector. This project not only supports national interests but also promises lasting economic benefits for Wyoming, providing jobs and establishing the state as a leader in the U.S. critical minerals supply chain.
Furthermore, the recent Letter of Interest from the U.S. Export-Import Bank (EXIM) highlights the national-level significance of Halleck Creek. With EXIM’s potential support, ARR is well-positioned to develop one of the largest rare earth projects in North America, contributing meaningfully to the U.S. critical minerals agenda.
BMO Capital Markets’ Expertise and Role
BMO Capital Markets, a globally recognized leader in metals and mining financial advisory, brings extensive expertise and a successful track record in critical minerals. Their in-depth knowledge of the sector and unparalleled network across North America are expected to help ARR maximize the value of the Halleck Creek Project and position the Company as a key player in the U.S. rare earth supply chain. BMO’s involvement will bolster ARR’s efforts to secure strategic partners, investment, and potential offtake agreements.
CEO Commentary
Chris Gibbs, CEO of American Rare Earths, commented, “Engaging BMO Capital Markets as our financial adviser marks a pivotal step forward for ARR as we work to deliver on our vision for the Halleck Creek Project. The timing is ideal, with growing U.S. support for domestic critical minerals and with Wyoming’s significant commitment to this project. BMO’s expertise and industry leadership align perfectly with our commitment to unlocking the full potential of Halleck Creek, creating value for our shareholders, and supporting the onshoring and secure supply of minerals critical for the United States economy.”
Continued Focus on Building Long-Term Shareholder Value
The engagement with BMO supports ARR’s ongoing commitment to generating long-term shareholder value by advancing critical mineral assets in the U.S. market. By leveraging BMO’s extensive resources and deep industry relationships, ARR aims to establish Halleck Creek as a cornerstone of the U.S. rare earth supply chain, addressing growing demand from sectors essential to national security and the clean energy transition.
This announcement has been approved by the Board of American Rare Earths Limited.
American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) owns Wyoming Rare (USA) Inc. which is focused on the development of the Halleck Creek Project, WY. It also owns La Paz, AZ rare earth deposit. Both can potentially become the largest and most sustainable rare earth projects in North America. The Company is developing environmentally friendly and cost-effective extraction and processing methods to meet the rapidly increasing demand for resources essential to the clean energy transition and US national security. The Company continues to evaluate other exploration opportunities and is collaborating with US Government-supported R&D to develop efficient processing and separation techniques of (REEs) elements to help ensure a renewable future.
Additional information
Susan Assadi
Media Relations US
sassadi@americanree.com
347 977 7125
FAQ
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