USA Rare Earth, Inc. is a development-stage rare-earth miner and magnet-maker founded in 2019, publicly listed via SPAC on March 14, 2025 ts2.tech. Its flagship asset is the Round Top Mountain deposit in Texas, rich in heavy rare-earths like dysprosium and terbium ts2.tech. USAR is building a vertically integrated “mine-to-magnet” supply chain: mining Round Top, processing oxides, and manufacturing NdFeB magnets at a plant in Stillwater, Oklahoma globenewswire.com ts2.tech. In late September 2025 USAR announced a transformative acquisition of UK-based Less Common Metals – a top ex-China rare-earth alloy maker – for $100M cash plus shares ts2.tech ts2.tech. The deal instantly gave USAR critical midstream capabilities. As of Oct 9, 2025, USAR’s stock had skyrocketed to the low-$30s – roughly 5× its price earlier in 2025 – valuing the company at about $2.5–3.0 billion ts2.tech ts2.tech. USAR has no revenues yet, posted a Q2 2025 net loss of ~$142 M and ~$120 M cash on hand ts2.tech. Most analysts rate USAR a Buy but caution that its future hinges on execution and any government support ts2.tech ts2.tech. Recent developments – a new CEO, the LCM deal, and reports of high-level White House discussions – have driven media and investor excitement,