Lion Rock Minerals (ASX:LRM) shareholder Tronox's initial investment in and partnership with the company, which was disclosed in October, is expected to be indicative of plans to secure a longer-dated source of monazite feedstock, Euroz Hartleys said in a Wednesday note.

Tronox recently received non-binding and conditional letters of support from Export Finance Australia and Export-Import Bank of the US for up to $600 million in limited or non-recourse financing to support the development of its rare earth supply chain.

Financing will support mine extensions, infrastructure support, and cracking and leaching capacity, the note said.

Euroz Hartleys maintained its speculative buy rating on Lion Rock Minerals and a price target of AU$0.11 per share.