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2.78% 3.5¢ true north copper limited

If the new 12c shareholders include this MP Materials (listed...

  1. EWexplorer
    5,728 Posts.
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    28/03/24
    21:47
    Post #: 73113117
    If the new 12c shareholders include this MP Materials (listed NYSE) ... it can't be a bad thing ...

    https://mpmaterials.com/articles/mp-materials-reports-fourth-quarter-2023-results/

    MP Materials Reports Fourth Quarter 2023 Results

    02/22/2024

    Exceeded 40,000 metric tons of REO production for the third consecutive year

    Commenced production of separated rare earth products

    Produced 200 metric tons of NdPr oxide in 2023

    Generated $253.4 million of revenue in 2023

    Produced $24.3 million of net income and Adjusted EBITDA of $102.5 million in 2023

    LAS VEGAS, Feburary 22, 2024 -- MP Materials Corp. (NYSE: MP) (“MP Materials” or the “Company”) today announced its financial results for the fourth quarter and full year ended December 31, 2023.

    Full Year 2023 Highlights

    Produced 41,557 metric tons of rare earth oxides (“REO”) in concentrateProduced 200 metric tons of NdPr oxideSold 36,837 metric tons of REO, generating revenue of $253.4 millionProduced net income of $24.3 million and Adjusted EBITDA of $102.5 millionEnded 2023 with $997.8 million of cash, cash equivalents and short-term investments and $307.8 million of net cash on the balance sheetSecured significant NdPr oxide-to-metal tolling capacity to expand midstream sales opportunitiesBegan installation of metal and alloy production equipment in Fort Worth, Texas, magnetics facilityStarted trial production of NdPr metal

    Fourth Quarter 2023 Highlights

    Production of 9,257 metric tons of REO in concentrateSales volumes of 7,174 metric tons of REO in concentrateProduction of 150 metric tons of NdPr oxideSales of 10 metric tons of NdPr oxide

    “MP executed diligently throughout 2023 despite formidable market headwinds. We exceeded 40,000 tons of REO production for the third consecutive year, achieved first production and sales of NdPr, and added substantial depth to our team and capability set,” said MP Materials Chairman and CEO, James Litinsky. “Our magnetics division completed construction in Fort Worth and began trial production of rare earth metal. Given the challenging pricing environment, MP remains steadfast in our conservative approach to capital deployment while we seek to create significant shareholder value through the cycle.”

    TNC Price at posting: 9.7¢ Sentiment: Buy Disclosure: Held
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