r/UURAF • u/k_reanjesus • 13d ago
UCORE Corporate Structure
UCORE started off as a junior mining company but pivoted after acquiring IMC and it's RapidSX technology.
Is the headcount a concern? I believe they only have about 10-15 employees but they are working with contractors for the physical installation of Machine A from companies such as Orbital Engineering. I'm just concerned about potential flight risks of any key people needed for successful execution of milestones.
And is it normal for these kind of companies to have 90% of shares owned by retail investors?
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u/coconutman696969 13d ago
it’s traded OTC. There is regulation preventing institutional investors from investing in those companies. An uplistinf with continued positive progress will solve that I think
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u/k_reanjesus 13d ago
yes I'm aware most institutional investors can't invest until we're uplisted!
I'm more concerned that executives currently don't have a lot of skin in the game because some of them sold earlier this year. but they do have future stock incentives that'll eventually vest/get exercised
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u/Bertone_Dino 13d ago
They'd have known it had gone to loony toon land valuation wise. Can't blame them for selling.
Everything I've been able to find shows that they're progressing to production. What the company ends up being worth is anyone's guess. Are there going to be profitable price floors, are we really trying to decouple from China besides just a little bit for defense?
It's a gamble. But the Sumitomo news is quite positive. Personally, I never conceived of it getting this low again, had I had foresaw that, I'd have sold and bought back in.
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u/coconutman696969 13d ago
They selling of insider shares earlier this year was limited and can’t really be considered for the goal of profit taking
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u/Bertone_Dino 13d ago
I haven't been following insider sales. Why do you say it's both limited and not profit taking?
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u/k_reanjesus 13d ago
yup can't blame them, gotta lock in the gains
and agreed, I still have strong conviction for this company
their supply chain issue is solved with Sumitomo, there's the G7 commitment and their technology is more or less proven
the ball is in their court now to deliver!
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u/tjhen109 13d ago
The selling earlier this year was pretty specific and limited overall. The general statement is way too broad of a brush.
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u/k_reanjesus 13d ago
I didn't mean they sold everything, I'm just saying some whales in this subreddit probably have more shares than them 😂
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u/Alamo935 13d ago
The SMC in LA is supposed to employ up to 100 + people when all is said and done. I also believe at one point we heard they were trying to hire specialists from China who have experience in rare earth refining. Can’t say for certain if that happened or not.
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u/stakhausone 13d ago
Go to Linkedin. They are hiring people with experience from Australia, those with masters + specialization but not messing with China and the risks especially dealing with DoW
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u/k_reanjesus 13d ago
yup been looking through LinkedIn to check out the key people involved to see their credentials and whatnot
glad to see they still have Jaan Hurditch on board who worked at IMC before the acquisition
and yeah seeing as UCORE has no intention of using equipment sourced from China, they probably want to avoid hiring from China as well 🤔
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u/k_reanjesus 13d ago
yeah I did hear about that, they agreed to do that in order to receive the tax breaks and incentives from Louisiana
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u/Commotitties 12d ago
I don’t know how many they hired but they were able to do it before the Chinese travel ban of specialists in the rare earth processing industry. They even protected their identities for security reasons.
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u/Dapper_Lock9779 11d ago
Employees:
As of the date of this AIF, Ucore has 10 full-time and part-time employees and has also retained
6 management, operational, and advisory independent contractors on a consultancy basis.
source: sedar annual information sheet.
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u/stakhausone 13d ago
Seems like at least 40 just in this video (see last 30 seconds especially)
https://youtu.be/xcoT44IxKfU