The U.S. Army wants first dibs on American-produced heavy rare earths, and REalloys (NASDAQ: ALOY) has just signed a landmark nonbinding term sheet that could put it at the top of the military's supply chain list. And the terms are extraordinary. The term sheet proposes a potential 75-year operating lease on approximately 200 acres at Tooele Army Depot in Utah, where REalloys would build and operate a facility processing dysprosium and terbium, two metals China has spent decades monopolizing. In return, one of the things that the Army wants is…

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