IMC Rare Earths is a mineral exploration and development company focused on the Itarantim Project, an ionic adsorption clay rare earth element deposit in Brazil. The company is pre-revenue and currently has no operating mines. Its primary asset contains a large inferred mineral resource, which is the lowest level of geological confidence under regulatory rules. IMC Rare Earths targets the production of magnet rare earth elements, specifically neodymium, praseodymium, dysprosium, and terbium. These elements are critical inputs for electric vehicle motors, wind turbines, and defense systems. The company's strategy is to supply magnet rare earth oxide concentrates and separated oxides to U.S. and European buyers seeking alternatives to China. IMC Rare Earths intends to utilize a low-cost, near-surface mining process involving inorganic salt leaching without blasting or crushing. While the company has a pre-commercial offtake agreement with a related party, Mineradora Havilah, it has no current customers. Operations are funded through equity and related-party debt, including loans from CEO Francesco Scolaro. The company's business model involves mining and processing rare earth-bearing clay ore to sell to refiners and end-users. Future success depends on upgrading mineral resources, securing environmental permits, and constructing facilities to reach commercial production.