Innovation Metals Corp Signs LOIs for Phase One of the Becancour Separation Facility

Innovation Metals Corp. announced that they have signed Letters of Intent with three leading rare-earth exploration and development companies for the toll processing of mixed rare-earth-element  concentrates.

As quoted in the press release:

Two of the future producers trade on the TSX Venture Exchange, with the third trading on the Australian Securities Exchange. They will toll feedstock concentrates rich in critical middle and heavy REEs, as well as neodymium (Nd), a critical light REE. In addition to the three new LOIs, IMC has an existing non-binding LOI in place with Geomega Resources Inc. (TSX.V:GMA), for the processing of Nd-rich concentrates.

Innovation Metal’s CEO, Patrick Wong, said:

The LOIs now in place represent the fulfillment of the initial 7,500 t REO / year capacity that IMC is planning for Phase 1 of the Becancour separation facility, with the potential for additional capacity requirements from the same future producers.

To view the whole press release, click here.