The Conversation (0)
Medallion Resources Ltd.(TSXV:MDL) announced receiving a new report on its proposed large-scale monazite, rare-earth extraction facility. Medallion are currently sourcing rare-earth producers through purchase agreements and monazite- processing joint ventures. The SENES Consultants’ report states that the proposed extraction facility can be operated safely.
As quoted in the press release:
The SENES report supports the Company’s objective that, with the proper operational controls and the use of modern handling and waste disposal systems, the Company can proceed with its strategy to source and procure the substantial amount of available monazite for a near-term large-scale planned production facility designed to extract rare earths. The report was not mandated to examine the capital and operating costs, or other economic variables that would form the basis of a feasibility study.
Medallion Resources Ltd., President & CEO, Dr.Bill Bird, said:
The SENES report provides the positive radiological safety and environmental support that we need to confidently advance our plans for a monazite processing facility, which could achieve near-term rare-earth production,” said Dr Bill Bird, Chairman & CEO of Medallion. “For some time, it has been our view that monazite, with a rare-earth content of approximately 60 percent, could again fulfill its dominant role as a source for rare-earth production outside of China.
Click here to read the Medallion Resources Ltd. (TSXV:MDL) press release
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