Neo Performance Materials Inc NOPMF

Globe & Mail

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Small cap to watch: Why this rare earths producer’s stock is trading at record highs

Shares of rare earths metals producer Neo Performance Materials Inc. are trading near all-time highs after the company struck a unique production agreement with a uranium player.

Neo shares hit a record $19.39 in trading on the Toronto Stock Exchange on Tuesday, after the company announced after market close on Monday a partnership with uranium miner Energy Fuels Inc.  to launch a rare earths production initiative across European and North American critical material supply chains.

Neo shares were trading around $18.40 midday on Wednesday.  The stock is up by about 230 per cent from its 52-week low of $5.55 on March 31 last year and up 33 per cent so far this year.

Shares of Energy Fuels hit a multi-year high of $8.78 on the TSX earlier on Wednesday, up more than 30 per cent from Monday’s close. The stock has since pulled back a bit to $7.65 midday.

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Here's the rest of it. GLTA Under the agreement, uranium miner Energy Fuels said it would process the monazite sands into a mixed rare earths carbonate in Utah for use as feed material for Neo’s rare earth production plant in Europe. “Producing value-added rare earth materials from monazite resources is a massive step forward for our industry and for consumers of rare earths,” stated Neo

[Possibleidiot01]

Thank you