Highlights

• REalloys is merging with BLBX and has announced non-binding agreements with Kazakhstan's AltynGroup for a 10-year rare earth offtake and investment commitment to route Central Asian feedstock into North American processing.
• The company aims to build a vertically integrated platform targeting 275 tpa Dy+Tb and 3,400+ tpa NdPr output by 2027, anchored by Ohio's Euclid Magnet Facility.
• Critical investor questions remain unanswered, including:
  • Assay data for claimed Tb/Dy-bearing tailings
  • Offtake pricing formulas
  • Export logistics
  • Integration of Kazakhstan supply with the North American production timeline

---

REalloys—currently merging with Blackboxstocks (NASDAQ: BLBX)—announced non-binding agreements with AltynGroup Kazakhstan (owned by the Assaubayev family) to pursue a 10-year rare earth offtake and a parallel non-binding investment commitment, aiming to route Central Asian feedstock into North American processing and alloying. REEx is summarizing what’s known, what’s promotional, and what investors still need answered.

Note theAssaubayev family is a prominent, wealthy Kazakh family known for controlling major mining and natural resource companies, including AltynGroup Holdings (opens in a new tab) and formerly KazakhGold (opens in a new tab). Led by tycoon Kanat Assaubayev (opens in a new tab) and his sons, includingAidar and the late Baurzhan, they are considered one ofKazakhstan’s most influential business dynasties. 

Kazakhstan feedstock meets a U.S. “mine-to-magnet” story

The headline is geopolitically intuitive: diversify feedstock away from China by contracting supply from Kazakhstan and converting it into metals/alloys in North America. A recent press release picked up by media such as Michael Scott at OilPrice.com (opens in a new tab) claims initial feedstock may link to AltynGroup’s Kokbulak iron ore footprint via a rare-earth-bearing byproduct from tailings, including heavy rare earths like Tb/Dy (company/partner assertions; non-binding).

What’s accurate and material right now: the deal is non-binding (MoU-style), and the value hinges on whether producing mines, grades, recoveries, export logistics, and binding offtake pricing can be locked.

REalloys’ stated value proposition (and what’s “forecast”)

In its corporate materials (opens in a new tab), REalloys positions itself as building a vertically integrated platform: separation/refining + metallization + magnet manufacturing, anchored by the Euclid Magnet Facility (Ohio) and partnerships for midstream separation.

Thecompany’s corporate deck explicitly frames output as forecast (e.g., 275 tpa Dy+Tb and 3,400 tpa+ NdPr), and targets initial domestic production “by 2027.”

Key structural point for equity holders: REalloys plans a reverse takeover into BLBX targeted in Q1 2026, and protections that could materially shape dilution and downside/upside capture.

Investor vetting: the unanswered quest

for offtake tailings

What are the assay tables, REE distributions, and independent metallurgy results? (Tb/Dy claims need hard data.)

Offtake economics: Price formula, volumes, penalties, and who pays for separation/refining export permissions, transport corridors, and any sanction-adjacent risks.

Execution sequencing: How does Kazakhstan feed integrate with the company’s stated North American ramp timeline?

Stock snapshot (BLBX) + technical read

BLBX last traded around $11.39, with a wide intraday range (~$11.41–$12.99)—a reminder this is currently a volatility-driven story stock pending deal documents and merger milestones.

Source: “North American Company Deal in Kazakhstan,” Michael Scott, Feb. 4, 2026; REalloys Non-Confidential Information Memorandum / Corporate Presentation excerpts.