Round Top Project - Rare Earths

I mentioned this last month in the SLI thread but didn't get any responses.

There is a mining project getting started in West Texas, for lithium, gallium and other rare earth/critical minerals. The owners of the mining operation are a JV between USA Rare Earth (privately owned company but rumors of SPAC or IPO) and Texas Mineral Resources (OTC ticker TMRC).

Mining.com Article

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in February 2021, the USGS identified Round Top as the largest gallium deposit in the United States. Gallium is a critical semiconductor chip material, for which there are currently no US producers.

In addition to Ga, the Survey deemed 16 rare earths as critical, including neodymium, dysprosium, praseodymium, and terbium.

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The Texan Article

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The company says that based on an economic assessment conducted in 2019 for a 20-year mine plan, the operation is projected to generate “an internal rate of return of 70% and average annual net revenues of $395 million a year after average royalties of $26 million a year payable to the State of Texas.”

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Texas Comptroller Article about his visit to the Round Top site

quote:

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In 2023, USA Rare Earth will begin mining 950 acres of state land that are expected to yield more than 300,000 metric tons of rare earth oxide. Combined with USA Rare Earth operations elsewhere, this domestic supply chain of rare earth magnets would meet 17 percent of projected demand in the United States.

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Just wanted to see if anyone else is following this project or any other rare earth mining news?

I have small positions in TMRC and MP, would like to get into whatever SPAC may be affiliated with USA Rare Earth but haven't found that one yet.