en.Wedoany.com Reported - Vancouver-based rare earth developer Tactical Resources (TSXV: RARE) is pursuing a Nasdaq uplisting through a special purpose acquisition company (SPAC) merger with Plum Acquisition Corp. III, while advancing rare earth processing operations in Texas to supply the U.S. critical minerals supply chain. The company, currently trading on the TSX Venture Exchange and the OTC market, plans to delist from both exchanges upon completion of the transaction.
Tactical Resources is developing the Peak project southeast of El Paso, Texas, aiming to become the next domestic rare earth element (REE) producer in the United States. The project is located approximately two miles from USA Rare Earth's Round Top deposit. The company holds exclusive rights to access rare earth-rich tailings and stockpiled materials extracted from the Sierra Blanca quarry, and considers Peak one of the few globally viable hard rock direct leach extraction projects, with an initial quarry operating permit already in place.
The company controls approximately 4 million tons of rare earth-bearing tailings already mined and stockpiled at a West Texas quarry, and has completed the acquisition of the underlying quarry operations, securing land, mineral rights, equipment, and stockpiled materials. Unlike most domestic rare earth projects that require a decade to reach production, Tactical Resources bypasses the traditional mine development cycle, moving directly to processing without the need for new mining or permitting.
CEO Ranjeet Sundher stated that the uplisting is expected to be completed in 2026, but declined to provide a specific timeline due to regulatory constraints. Sundher described the project as a domestic U.S. initiative and believes a Nasdaq listing will open more opportunities in terms of capital and partnerships. The site features existing infrastructure, including power, water, rail access, and crushing facilities. Over more than two decades of operation, the quarry produced railroad ballast, generating stockpiled materials that the company believes are rich in rare earth elements. The company estimates approximately 4 million tons of tailings are available on site, which Sundher said could support the first five years of planned operations while further geological work is conducted.
Tactical Resources' development plan focuses on processing and separation rather than resource expansion. The company plans to process materials through a pilot-scale operation to produce rare earth oxides, then advance to individual rare earth element separation and secure offtake agreements with downstream customers. The project specifically targets heavy rare earth elements such as dysprosium, terbium, and yttrium, which are critical components of high-performance permanent magnets used in electric vehicles, defense systems, robotics, and other advanced technologies. Due to the mineralization being suitable for direct leach extraction, processing steps may be reduced compared to traditional hard rock rare earth operations. The company plans to build a demonstration processing plant at the site before scaling up operations through a modular approach.
Tactical Resources' plans come as the U.S. intensifies efforts to build domestic critical mineral supply chains to reduce reliance on Chinese processing capacity. Sundher noted that federal policy support for domestic critical mineral production has significantly strengthened over the past two years, creating a more favorable environment for domestic rare earth material production and processing projects. The company is also evaluating opportunities for government funding. Sundher stated that the company is among the few with processable feedstocks and is working to demonstrate separation capabilities to prove it meets all conditions. With infrastructure already in place and processing studies advancing, Tactical Resources is positioning itself as a potential participant in the emerging U.S. rare earth supply chain.
