Rare earth metals are used in powerful magnets used to drive electric
motors among other uses. The world is going electric and rare earth
metals will be in high demand.
Rare Earth Miner Soars On Takeover Bid -
Chinas Nuclear Option - Rare Earth Metals Surge
This company is at the forefront of technology making magnets ( Electric
Motors ) more powerful yet lighter. Serious Investors should
listen to Don Lay's interview with
Market One Media .
Medallion Completes Final Testwork Program Responds to US
Department of Defense Request
VANCOUVER, British Columbia, Aug. 20, 2019 (GLOBE NEWSWIRE) --
Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN)
– (“Medallion” or the “Company”), pursuing smart production of
rare-earth magnet metals, announces that the Saskatchewan Research
Council (SRC) has successfully concluded the final major testwork
program for Medallion’s rare-earth element (REE) extraction process.
Medallion is developing the process and business model to quickly
get to REE production in North America by processing by-product
monazite sand.
“This program’s
key work, conducted by the SRC, was to produce and analyze different
waste streams from additional ‘crack and leach’ tests on our
monazite sand feedstock,” said Kurt Forrester, PhD, Medallion’s
metallurgist. "We are now engaging processors, waste management and
transportation groups to determine disposal options and costs. This
fits with our recently announced plans to commission trade-off
studies investigating suitable North American sites for our proposed
plant including transportation costs related to feedstock, re-agents
and waste material."
Medallion has
received funding from the federal government through the National
Research Council of Canada Industrial Research Assistance Program
(NRC IRAP) in support of this program.
US
Department of Defense Request
for Information (RFI)
The United
States’ Department of Defense is conducting a wide assessment of
North America’s REE supply chains, including the main barriers to
market experienced by domestic business. The RFI stated, “the
domestic industrial capability to provide critical materials for use
in essential citizen applications is vital for national security.”
The department will use the information gathered to propose
recommendations for a healthy manufacturing and defense industrial
base, including potential government investment in relevant
projects.
Medallion has
responded to the department’s RFI (which includes Canada as a
“domestic” source) to put its monazite by-product processing
approach as a route to achieving near-term North American production
of REEs.
With China
supplying approximately 80% of the world’s REEs and the US defense
industry’s heavy reliance on China’s rare earth resources for
important military technology, significant concerns have been raised
regarding national security.
Medallion
Strategy
Medallion is
developing a modern, safe and automated process to extract REEs from
monazite tailing streams. Monazite sand is available as a by-product
from heavy mineral sands mining operations and is recognized by the
US Geological Survey as an important commercial source of REEs.
By-product
monazite represents an important potential source of magnet metals
to automakers and other industrials groups seeking alternative REE
sources to offset China’s dominance of the rare earth production and
processing value chain. Also, given the geopolitical sensitivity of
rare earths and associated environmental issues, established mining
groups are receptive to a safe and reliable outlet for their
monazite tailing stream resources.
About
Medallion Resources
Medallion is preparing for near-term production of rare-earth magnet
materials in North America through the processing of by-product
monazite sand—in a modern, clean, and automated process. Monazite
sand is rich in rare-earth elements neodymium and praseodymium (also
known as “NdPr”) which are critical input for lightweight and
powerful rare-earth magnets. Rare-earth magnets are essential to
Automotive and Robotics (electric motors), Defense (Missile Guidance
Systems), and Clean Energy (Wind Turbines) industries. Given the
dominance of China as a rare-earth producer and tense global trade
relations, automakers and other industry groups are seeking
non-China sources to meet increasing demands for NdPr. Medallion is
committed to following best practices and accepted international
standards in all aspects of mineral transportation, processing and
safe management of waste materials. More about Medallion (TSX-V:
MDL; OTCPK: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.
Contact: Donald
Lay, President & CEO at +1.604.681.9558 or info@medallionresources.com
Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release. Medallion management takes
full responsibility for content and has prepared this news release.
Some of the statements contained in this release are forward-looking
statements, such as statements that describe Medallion’s plans with
respect to the increase in the size of the Private Placement and the
completion and the use of the proceeds of the Private Placement.
Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties, including the risks related to market conditions and
regulatory approval and other risks outlined in the Company’s
management discussions and analysis of financial results. Actual
results in each case could differ materially from those currently
anticipated in these statements. Also, in order to proceed with
Medallion’s plans, additional funding will be necessary and,
depending on market conditions, this funding may not be forthcoming
on a schedule or on terms that facilitate Medallion’s plans. These
forward looking statements are made as of the date of this press
release, and, other than as required by applicable securities laws,
Medallion disclaims any intent or obligation to update publicly any
forward looking statements, whether as a result of new information,
future events or results or otherwise.
Medallion to Evaluate US and Canadian Jurisdictions for Rare
Earth Plant
VANCOUVER, British Columbia, July 09, 2019 (GLOBE NEWSWIRE) --
Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN)
– “Medallion” or the “Company”), pursuing smart production of magnet
metals, announced it is seeking third party proposals to advance its
development of a North American rare-earth extraction plant. One
proposal calls for evaluation of logistics and plant siting options
in both the US and Canada; while the other, development of the
process engineering design for Medallion’s rare-earth flowsheet.
“In the last two months, rare earths have been front and centre due
to the Chinese-US trade friction and their growing importance in the
electrification of transportation, particularly EVs. As a result,
prices of the key magnet metals such as NdPr, have moved up over 25%
during that period,” said Don Lay, President & CEO. “We feel it is
the right time to initiate the evaluation of plant sites for a
commercial monazite processing plant as a key part of re-building a
North American rare earth value chain.”
Rare-Earth Production Facility — Logistics and Facility Siting
Studies
Medallion is planning to commission several preliminary trade-off
studies to investigate the integration of processing and transport
nodes. These studies will assess suitable jurisdictions for the
proposed monazite “crack and leach” plant as well as the upstream
and downstream logistic issues related to the transport of monazite
sand feedstock, re-agents, produced products and waste material to
and from potential project locations. Jurisdiction and location
selection will address factors including:
-
Access to and costs of re-agents such as sodium hydroxide and
hydrochloric acid, energy, and human resources;
-
Permitting; and
-
Social and environmental impacts.
Extraction Flowsheet — Process Engineering Design
The process engineering work will start with the development of a
robust process model for Medallion’s continuous monazite rare-earth
extraction flowsheet including a mass and energy balance for the
complete process. This is an important step ahead of plant
engineering specifications and determining the related capital and
operating cost estimates.
The basis of the process model will be to capture the extensive
process development and testwork conducted to date—most of it
conducted at the Saskatchewan Research Council (SRC). The current
program of metallurgical testwork at the SRC as well as the research
program at the University of Toronto, as described in Company news
releases dated January 31, 2019 and March 20, 2019, will be
completed shortly and reported on. This work provides important
input to the process engineering design project.
Both the Logistics and Facility Siting Studies and Process
Engineering Design projects will advance ahead of undertaking a
formalized economic study such as a preliminary economic assessment
(PEA) and provide valuable input to such a study.
Stock
Option Grant
Medallion, pursuant to its stock option plan, has granted stock
options covering 345,000 shares at an exercise price of $0.185 per
share for a period of five years to officers and directors of the
Company.
About
Medallion Resources
Medallion is preparing for near-term production of rare-earth magnet
materials in North America through the processing of by-product
monazite sand—in a modern, clean, and automated process. Monazite
sand is rich in rare-earth elements neodymium and praseodymium (also
known as “NdPr”) which are critical input for lightweight and
powerful rare-earth magnets. Rare-earth magnets are essential to
Automotive and Robotics (electric motors), Defense (Missile Guidance
Systems), and Clean Energy (Wind Turbines) industries. Given the
dominance of China as a rare-earth producer and tense global trade
relations, automakers and other industry groups are seeking
non-China sources to meet increasing demands for NdPr. Medallion is
committed to following best practices and accepted international
standards in all aspects of mineral transportation, processing and
safe management of waste materials. More about Medallion (TSX-V:
MDL; OTCPK: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.
Contact: Donald
Lay, President & CEO at +1.604.681.9558 or info@medallionresources.com
Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Medallion management takes full
responsibility for content and has prepared this news release. Some
of the statements contained in this release are forward-looking
statements, such as statements that describe Medallion’s plans with
respect to the completion of additional tranche(s) of the Offering
and the intended use of the proceeds. Since forward-looking
statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties, including the
risks related to market conditions and regulatory approval and other
risks outlined in the Company’s management discussions and analysis
of financial results. Actual results in each case could differ
materially from those currently anticipated in these statements.
Also, in order to proceed with Medallion’s plans, additional funding
will be necessary and, depending on market conditions, this funding
may not be forthcoming on a schedule or on terms that facilitate
Medallion’s plans. These forward-looking statements are made as of
the date of this press release, and, other than as required by
applicable securities laws, Medallion disclaims any intent or
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or results or
otherwise.
Medallion Provides Update on Process Development Projects
VANCOUVER, British Columbia, May 01, 2019 (GLOBE NEWSWIRE) --
Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN)
– “Medallion” or the “Company”), pursuing smart production of magnet
metals, today provides an update on its process development work now
in progress at the Saskatchewan Research Council (SRC) and the
Chemical Engineering & Applied Chemistry Department at the
University of Toronto.
“These current projects will answer key questions about our waste
stream and process optimization work and move us much closer to a
formal economic study,” said Kurt Forrester, PhD, Medallion’s
metallurgist. “We are entering into discussions with engineering
groups on a study to determine capital and operating costs for our
proposed monazite rare-earth processing plant.”
More
about our projects
- To
optimize the Company’s approach to the safe and economical
management of waste materials, the SRC is analysing waste
streams produced from additional “crack and leach” testwork on
monazite sand feedstock. Following completion of this work, the
findings and samples will be shared with waste processors and
disposal firms for review and guidance.
- To
streamline process design, researchers at the University of
Toronto’s Chemical Engineering & Applied Chemistry Department
are generating solubility data to establish precise
thermodynamic models of the phosphate conversion and caustic
regeneration projects. The Company expects this work to
potentially provide significant cost savings during plant
operations.
“The timing of this work coincides nicely with the market interest
we’re seeing in rare-earth magnet metals and in our NdPr-rich
concentrate,” said Don Lay, President & CEO of Medallion. “With our
recent capital raise we can move more quickly to evaluate potential
plant sites in North America and work with feedstock suppliers to
ensure timing and quality of monazite feedstock.”
A current top-level process flow diagram of Medallion’s can be seen
here:
http://www.globenewswire.com/NewsRoom/AttachmentNg/e5c068a7-4d2a-46a9-938b-cf01978134e4
About
Medallion Resources
Medallion is preparing for near-term production of rare-earth magnet
materials in North America through the processing of by-product
monazite sand—in a modern, clean, and automated process. Monazite
sand is rich in rare-earth elements neodymium and praseodymium (also
known as “NdPr”) which are critical input for lightweight and
powerful rare-earth magnets. Rare-earth magnets are essential to
Automotive and Robotics (electric motors), Defense (Missile Guidance
Systems), and Clean Energy (Wind Turbines) industries. Given the
dominance of China as a rare-earth producer and tense global trade
relations, automakers and other industry groups are seeking
non-China sources to meet increasing demands for NdPr. Medallion is
committed to following best practices and accepted international
standards in all aspects of mineral transportation, processing and
safe management of waste materials. More about Medallion (TSX-V:
MDL; OTCPK: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.
Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Medallion management takes full
responsibility for content and has prepared this news release. Some
of the statements contained in this release are forward-looking
statements, such as statements that describe Medallion’s plans with
respect to the completion of additional tranche(s) of the Offering
and the intended use of the proceeds. Since forward-looking
statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties, including the
risks related to market conditions and regulatory approval and other
risks outlined in the Company’s management discussions and analysis
of financial results. Actual results in each case could differ
materially from those currently anticipated in these statements.
Also, in order to proceed with Medallion’s plans, additional funding
will be necessary and, depending on market conditions, this funding
may not be forthcoming on a schedule or on terms that facilitate
Medallion’s plans. These forward-looking statements are made as of
the date of this press release, and, other than as required by
applicable securities laws, Medallion disclaims any intent or
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or results or
otherwise.
$630,000 Private Placement
Medallion Resources Ltd. (TSXV:MDL; OTC:MLLOF;
Frankfurt:MRDN) – “Medallion” or the “Company”),
pursuing smart production of magnet metals, today
announces that it is amending the terms, and
increasing the size, of its non-brokered private
placement (the “Private Placement”), which was
originally announced in a news release of the
Company earlier today.
Medallion Resources Ltd. (TSXV:MDL;
OTC:MLLOF; Frankfurt:MRDN) – “Medallion” or the “Company”),
pursuing smart production of magnet metals, today announces
that it is amending the terms, and increasing the size, of
its non-brokered private placement (the “Private
Placement”), which was originally announced in a news
release of the Company earlier today.
The size of the Private Placement is increased to up to
7,000,000 units (each, a “Unit”) at a purchase price of
$0.09 per Unit for gross proceeds of $630,000. Each Unit
will consist of one common share in the capital of the
Company (a “Common Share”) and one-half of one transferable
Common Share purchase warrant (each whole warrant, a
“Warrant”). Each Warrant will be exercisable to
acquire one additional Common Share at an exercise price of
$0.15 for a period of 36 months following the closing of the
Private Placement (the “Closing Date”). Certain Medallion
directors and officers have arranged to partially fund
subscriptions under the Private Placement with proceeds from
the sale of Common Shares of Medallion at a price of $0.09
per share through the facilities of the TSX Venture Exchange
(the “Exchange”).
The proceeds of the Private Placement will be used to
further metallurgical test programs, for customer and
feedstock supply development work and for general working
capital. The completion of the Private Placement is
subject to the acceptance of the Exchange.
Medallion has agreed to pay finders’ fees to arm’s length
finders of up to 8% of the gross proceeds funded by outside
parties, payable in cash or Units, at the election of the
finder, and will also grant finders’ options (“Finders’
Options”) equal to up to 8% of the Units sold through
qualified finders. Each Finders’ Option will be exercisable
to acquire one Common Share at an exercise price of $0.09
for a period of 24 months from the Closing Date.
All securities issued in connection with the Private
Placement will be subject to a four-month hold period from
the Closing Date, pursuant to applicable securities laws and
the policies of the Exchange. The securities issued in
connection with the Private Placement have not been nor will
they be registered under the United States Securities Act of
1933, as amended, or state securities laws, and may not be
offered or sold in the United States or to an account for
the benefit of US persons, absent such registration or an
exemption from registration. This press release shall not
constitute an offer to sell or the solicitation of an offer
to buy the securities in the United States or in any
jurisdiction in which such offer, sale, or solicitation
would be unlawful.
About Medallion Resources
Medallion Resources is developing an approach for low-cost,
near-term, rare-earth element (REE) production by exploiting
monazite. Monazite is a rare-earth phosphate mineral that is
widely available as a by-product from mineral sand mining
operations. REEs are critical inputs to electric and hybrid
vehicles, electronics, imaging systems, wind turbines and
strategic defense systems. Medallion is committed to
following best practices and accepted international
standards in all aspects of mineral transportation,
processing and the safe management of waste materials. More
about Medallion (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN)
can be found at medallionresources.com.
Donald Lay, President & CEO at +1.604.681.9558 or info@medallionresources.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Medallion management takes full responsibility for content
and has prepared this news release. Some of the statements
contained in this release are forward-looking statements,
such as statements that describe Medallion’s plans with
respect to the increase in the size of the Private Placement
and the completion and the use of the proceeds of the
Private Placement. Since forward-looking statements address
future events and conditions, by their very nature, they
involve inherent risks and uncertainties, including the
risks related to market conditions and regulatory approval
and other risks outlined in the Company’s management
discussions and analysis of financial results. Actual
results in each case could differ materially from those
currently anticipated in these statements. Also, in order to
proceed with Medallion’s plans, additional funding will be
necessary and, depending on market conditions, this funding
may not be forthcoming on a schedule or on terms that
facilitate Medallion’s plans. These forward looking
statements are made as of the date of this press release,
and, other than as required by applicable securities laws,
Medallion disclaims any intent or obligation to update
publicly any forward looking statements, whether as a result
of new information, future events or results or otherwise.
Click here to connect with Medallion Resources Ltd.
(TSXV:MDL, OTC:MLLOF, Frankfurt:MRDN) for an Investor
Presentation.
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Medallion Secures Funding from the Government of Canada for
Final Process Test work
VANCOUVER, British Columbia, Jan. 31, 2019 (GLOBE NEWSWIRE) --
Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF – “Medallion” or
the “Company”), will receive up to $50,000 in funding from the
federal government through the National Research Council of Canada
Industrial Research Assistance Program (NRC IRAP) to support the
final major test work of its rare earth element (REE) extraction
process development.
This test work project, with a total budget of about $80,000, will
be carried out by the Saskatchewan Research Council (SRC) and focus
on processing routes and analysis of major waste streams, especially
those containing radioactive elements. The non-dilutive NRC IRAP
funding is projected to cover over 60% of project costs.
“Our process development work to date has demonstrated extraction
and production of both a commercial-ready rare earth chemical
concentrate and a phosphate by-product from monazite sand,” said
Kurt Forrester, PhD, Medallion’s metallurgist. “The new test work
to be undertaken by the SRC will produce discrete waste streams,
allowing us to engage with processors and waste management firms to
determine disposal options and costs related to uranium and thorium.
Understanding this important aspect of material flow will enable us
to estimate capital and operating costs on our proposed monazite REE
extraction plant in North America.”
The funding will accelerate process development and be funded over a
four-month period, starting February 1, 2019. In order to receive
the contribution from NRC IRAP, Medallion must meet all conditions
of the contribution, which include maintaining adequate records and
submitting periodic status reports. More information can be found
here: nrc-cnrc.gc.ca/eng/irap/
Medallion
Strategy
Medallion is developing a modern, safe and automated process to
extract REEs from monazite tailing streams. Monazite sand is
available as a by-product from heavy mineral sands mining operations
and is recognized by the US Geological Survey as an important
commercial source of REEs.
Medallion has established relationships with heavy-mineral sand
miners and believes commercial agreements can be negotiated as plant
design, available monazite feedstock and potential production
volumes are aligned during 2019.
By-product monazite represents an important potential source of
magnet metals to automakers and other industrial groups seeking
alternative REE sources to offset China’s dominance of the rare
earth production and processing value chain. Also, given the
geopolitical sensitivity of rare earths and associated environmental
issues, established mining groups are receptive to a safe and
reliable outlet for their monazite tailing stream resources.
About
Medallion Resources
Medallion Resources is pursuing near-term magnet metal production,
firstly in North America, by exploiting by-product monazite.
Monazite is a rare earth element (REE) mineral containing
significant amounts of the key magnet metals neodymium and
praseodymium (NdPr). NdPr is the key input material for the
high-powered permanent rare earth magnets required for growing
demands of vehicle electrification, wind power generation and
robotics. Monazite is widely available as a by-product from heavy
mineral sand mining operations and has a history as a commercial REE
resource. Medallion is committed to following best practices and
accepted international standards in all aspects of mineral
transportation, processing and the safe management of waste
materials. More about Medallion: medallionresources.com.
Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release. Medallion
management takes full responsibility for content and has prepared
this news release. Some of the statements contained in this release
are forward-looking statements, such as statements regarding the
efficiency of RES and the Company’s REE extraction methods, the
continued partnership of Medallion and RES and the establishment of
a North American production chain for the extraction of REEs. Since
forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties,
including the risks related to market conditions and regulatory
approval and other risks outlined in the Company’s management
discussions and analysis of financial results. Actual results in
each case could differ materially from those currently anticipated
in these statements. Also, in order to proceed with Medallion’s
plans, additional funding will be necessary and, depending on market
conditions, this funding may not be forthcoming on a schedule or on
terms that facilitate Medallion’s plans. These forward looking
statements are made as of the date of this press release, and, other
than as required by applicable securities laws, Medallion disclaims
any intent or obligation to update publicly any forward looking
statements, whether as a result of new information, future events or
results or otherwise.
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