Small But Savage: 10 Stocks Delivering Outsized Gains

4. Tronox Holdings plc (NYSE:TROX)

Tronox soared by 25.60 percent on Tuesday to finish at $4.71 apiece after successfully raising $600 million in fresh funds to finance its aggressive expansion program.

In a statement on the same day, Tronox Holdings plc (NYSE:TROX) said that it earned the financial backing of the Export Finance Australia (EFA) and the Export-Import Bank of the United States (EXIM) for the said amount to support the development of its rare earth supply chain, including mine extensions, infrastructure support, and cracking and leaching capacity.

The coordinated letters form part of the agencies’ support to the US-Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths announced in October of this year.

At present, Tronox Holdings plc (NYSE:TROX) is underway with the definitive feasibility study for a proposed cracking and leaching facility in Western Australia to produce a mixed rare earth carbonate, including both light and heavy rare earths.

It said that it would begin work with downstream customers and other key business partners to develop a financeable project structure consistent with its long-term capital allocation priorities

“This announcement represents a significant milestone in advancing the expansion of Tronox’s minerals processing operations to produce rare earth elements for customers that are critical to permanent magnet, defense, energy, and advanced technology industries,” said Tronox Holdings plc (NYSE:TROX) CEO John Romano.

“While Tronox currently mines and sells tailings materials containing rare earth elements, the Letters from EFA and EXIM highlight the opportunity for Tronox to assume a leading role as a supplier of rare earth elements to support the critical mineral strategies of Australia and the United States,” he added.