Texas Mineral Resources - TMRC stock
About the Company[edit]
Texas Mineral Resources Corp. (OTC: TMRC) is a mining company engaged in exploring, acquiring, and developing mineral properties in the USA. The company was founded in 1970 as Texas Rare Earth Resources Corp. and later changed its name to Texas Mineral Resources Corp. in March 2016. It is headquartered in Sierra Blanca, Texas.[1] Texas Mineral primarily holds two mineral property leases. The Texas General Land Office (GLO) explores and develops an approximately 950-acre rare earth project in Hudspeth County, Texas, known as the Round Top Project. It also partners with USA Rare Earth LLC, a funding and development firm. The firm is super focused on developing a metallurgical process to extract the metals from the Round Top Project's rhyolite. Texas Mineral holds prospecting permits covering approximately 9,345 acres adjacent to the Round Top Project. The Round Top Project lies within Texas' Trans-Pecos Trend.[2]
With the DPA Title III designation of strategic materials for batteries, USA Rare Earth is developing the only domestic mining project containing DPA-designated materials lithium and rare earth elements at a single deposit.[3]
Texas Mineral Resources Corp., along with USA Rare Earth LLC, announced the addition of Kevin Francis to its Board of Directors. The company indicated that Mr. Francis brings more than 32 years of experience in the mining industry, having served in executive and advisory roles in several companies. He holds both an M.S. degree and a B.A. in geology from Colorado.[4]
Texas Mineral Resources Corp.'s competitors include Rare Element Resources LTD, Northern Minerals and Exploration, U.S. RARE EARTHS, INC, Revett Minerals Inc., Inception Mining Inc., and High Desert Holding Inc.[5]
Projects[edit]
Round Top Mountain Project[edit]
The unique geology of Round Top Mountain was first discovered by the Texas Bureau of Economic Geology roughly 25 years ago. Demand for the rare elements sprung up in the 21st century from hybrid and electric cars, wind power generators, and the military, electronic, and optics (laser) technology industries. Texas Mineral Resources Corp. engineered a 20-year mining approach and planned to develop or import skilled labor to achieve its objectives. The company focuses on mining, commercializing, and becoming the nation's heavy rare earth elements supplier.[6]
On August 2, 2021, USA Rare Earth LLC reported significant progress at the Round Top Mountain project stating that the team had achieved a significant milestone.[7]
Jeddo Coal Project[edit]
On April 22, 2021, the company announced that the Department of Energy's (DOE) National Energy Technical Laboratory ("NETL") had selected a Texas Mineral Resources-led consortium to continue a contract targeting the production of rare piles of earth from Pennsylvania coal waste. The consortium objective was to ultimately install a self-contained, modular, and portable pilot plant at a Jeddo Coal Pennsylvania site, capable of producing 1-3 metric tons of rare earth oxides derived from coal waste material from Pennsylvania anthracite coal.[8]
Carlisle Mine[edit]
Texas Mineral Resources Corp. has acquired the Carlisle mine in the Steeple Rock district, New Mexico, comprising four patented mining claims over 63 acres. The acquisition was made through a $75,000 one-year non-interest-bearing promissory note. The mine, historically producing gold from 1880-1890 and later copper-lead-zinc during World War II, has a rich history, including management by future U.S. President Herbert Hoover.[9]
Partnerships[edit]
USA Rare Earth[edit]
In May, 2024, USA Rare Earth LLC and Texas Mineral Resources Corp. announced that the former executed its option to acquire 80% of the Round Top Heavy Rare Earth, Lithium, and Critical Minerals Project in Hudspeth County, Texas. The deal was sealed under the 2019 Amended and Restated Option Agreement terms as amended and approved by TMRC shareholders.[10]
Santa Fe Gold Corp[edit]
On November 9, 2021, the firm announced the execution of a definitive agreement to enter into a joint venture agreement with Santa Fe Gold Corp. (OTCQB: SFEG). They agreed to jointly explore and develop a target silver property within the Black Hawk Mining District in Grant County, New Mexico.[11]
Steeple Rock Holding Company[edit]
Texas Mineral Resources Corp. has signed a non-binding letter of intent with Steeple Rock Holding Company, LLC to explore forming a joint venture for mining projects in New Mexico and Arizona. TMRC would manage the venture, which includes four mines the Billali, Jim Crow, Imperial, and Carlisle as well as a permitted millsite and an unassembled flotation mill in Arizona. TMRC may acquire up to a 50.1% stake by contributing the Carlisle mine and raising the required capital for development.[12]
- ↑ Yahoo Finance. TMRC Stock Profile. Accessed on 2/22/2025.
- ↑ CNBC. TMRC Stock Quotes. Accessed on 2/22/2025.
- ↑ Globe Newswire. STATEMENT: USA Rare Earth Commends Presidential Determination for Mining and Battery Materials, Provides Round Top Project Update. April 6, 2022.
- ↑ tmrc.com. Texas Mineral Resources Adds Senior Mining Executive Kevin Francis to Board of Directors in Support of Planned Expansion Strategic Initiatives. November 23, 2020.
- ↑ Zoominfo. Texas Mineral Resources. Accessed on 2/22/2025.
- ↑ tmrcorp.com. About Us. Accessed on 2/22/2025. Archive link.
- ↑ Globe Newswire. USA Rare Earth Reports Significant Progress at Its Round Top Mountain Heavy Rare Earth / Lithium / Critical Minerals Project in Texas and at Its Critical Minerals Processing Facility in Colorado. August 2, 2021.
- ↑ psu.edu. Texas Mineral Resources Consortium Awarded Second Phase of U.S. Department of Energy (DOE) Contract Targeting Production of Mixed Rare Earth Oxides from Pennsylvania Coal-Based Resources. Accessed on 2/22/2025.
- ↑ GlobeNewswire. Texas Mineral Resources Acquires Historic Carlisle Mine in New Mexico. December 3, 2024.
- ↑ Yahoo Finance. USA Rare Earth Completes $50 Million Series C Funding Round and Exercises Option to Acquire 80% of Round Top Mountain Heavy Rare Earth / Lithium / Critical Mineral Project in Texas. May 20, 2021.
- ↑ Globe Newswire. Texas Mineral Resources Signs Mineral Exploration and Option Agreement with Santa Fe Gold to Jointly Explore and Develop a Target Silver Property Within the Black Hawk Mining District in New Mexico. November 9, 2021.
- ↑ GlobeNewswire. Texas Mineral Signs Non-Binding Letter of Intent to Explore the Possibility of Forming Joint Venture to Develop and Manage Mining Properties in the Steeple Rock District of New Mexico and Greenlea County in Arizona. December 12, 2024.
OTC Symbol: TMRC | OTC Tier: OTCQB
