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Geomega Resources (TSXV:GMA) updates progress on rare earth recycling demonstration plant
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  • Medallion Resources (MDL) has signed a letter of intent to form a partnership to use its proprietary process to extract rare earth elements from monazite.
  • The partnership is for the company's monazite in southeastern Australia
  • The partnership is with private company ACDC Metals
  • The company's proprietary method that enables sustainable extraction of rare earth elements from mineral sand monazite
  • Medallion Resources is up 2.5 per cent, trading at $0.20 at 2:05 pm ET

Medallion Resources (MDL) has signed an LOI to form a partnership to use its proprietary process to extract rare earth elements from monazite.

The partnership with is with private company ACDC Metals to utilize Medallion’s proprietary process to extract for the company's monazite in southeastern Australia.
The company's Medallion Monazite Process is a proprietary method that enables sustainable extraction of rare earth elements from mineral sand monazite. 
ACDC is securing the right to acquire three historical non JORC/NI43-101 compliant mineral sand resource properties and other exploration assets in Victoria, to potentially underpin a supply of monazite suitable for the Medallion Monazite Process.
ACDC is planning to complete an Initial Public Offering upon the Australian Stock Exchange within 12 months.
“We are very pleased to have signed this LOI with ACDC so soon after completion of the TEA. ACDC is acquiring monazite-rich mineral sand resources in the Murray Basin, one of the world’s premier mineral sand provinces.
By bringing together these resources with Medallion’s processing technology we see a great synergy to produce REEs. The Medallion Monazite Process and LAD Chromatography provides the opportunity for maximum value add while minimizing environmental footprint of REE extraction and separation," said Medallion President and CEO Mark Saxon.
Medallion Resources is up 2.5 per cent, trading at $0.20 at 2:05 pm ET.
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