Evolution Metals & Technologies (EMAT) has secured about 754 metric tons of neodymium metal, sourced entirely outside China, the company said Thursday.

The company said it expects this to be sufficient for about 50% of the feedstock it needs to deliver its full-year 2027 revenue guidance of $400 million to $460 million.

The company said it has now put together all ten factors it believes are necessary to manufacture rare earth magnets at large commercial scale.

Shares of the company were up more than 17% in Thursday trading.

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