IIROC Trading Halt - MDL

Overview

Medallion Resources Ltd. (TSXV:MDL,OTC:MLLOF,OTCQX:MLLOF,FWB:MRDN) is pursuing near-term magnet metal production by exploiting by-product monazite. The rare earth elements (REEs) neodymium and praseodymium (NdPr) are the key input material for powerful permanent magnets. These high-powered rare earth magnets are required for the growing demands of vehicle electrification, wind power generation and robotics. China’s domination of the REEs market is a significant supply chain headache for North American and European technology manufacturers, only aggravated further by the recently imposed US tariffs on Chinese sourced rare earths.

Swiss investment bank UBS recently projected dramatic growth in the demands for NdPr based upon expected growth of the electric vehicle (EV) and plug-in EV hybrid vehicle marketplace. Working with its refining partner Rare Earth Salts Separations and Refining (RES), a US-based materials technology company, Medallion aims to meet this increasing demand for strategic magnet metals. By utilizing the by-product mineral monazite, this can be done quickly and cheaply and Medallion is targeting North America for its first production.