The Conversation (0)
Medallion Resources Ltd.(TSXV:MDL) announced that it has chosen to build its proposed large-scale in the Middle East. After a series of reviews and site visits, the Company settled on the Gulf States.
As quoted in the press release:
Since March 2012, the Company has been actively engaged with potential Middle East sovereign-supported joint-venture partners to arrange potential investment and to determine a suitable industrial site for the construction of a processing facility. The Company continues work, with a number of parties, to advance the project and looks forward to disclosing information on the joint-venture partner, financing arrangement and specific site location once negotiations are completed.
Medallion, Chairman and CEO, Dr.Bill Bird, commented:
We are pleased by the intense interest generated in the Middle East by our monazite business model.The parties we met recognized the cost and time-saving attributes of Medallion’s fast-track monazite approach to entering the global rare-earth marketplace, as well as the strategic industrial advantages of locating a rare-earth supply centre within their jurisdictions.
Click here to read the Medallion Resources Ltd. (TSXV:MDL) press release
Click here to see the Medallion Resources Ltd. (TSXV:MDL) profile
MDL:CA