MDL_2

Medallion Resources (MDL.V) has now resumed its test work to extract Rare Earth Elements from monazite, a by-product from mineral sands operations. The company has recently closed a first tranche of a placement, raising C$670,000 which now allows it to continue its test work, led by Kurt Forrester, a Chemical Engineer and Metallurgist.

In a recent report, we highlighted the potential of Medallion Resources as the REE prices are on the rise. Whereas a basket of REE concentrate would have yielded $12.94 per kilogram in January last year, the value of the same basked has risen to $18.52 based on the August/September pricing. Especially the neodymium and praseodymium elements are in high demand, as you can see on the next chart, provided by Alkane Resources:

Medallion Resources MDL Alkane

Recently, Swiss investment bank UBS also released a report on the REE market, focusing on the potential of neodymium and praseodymium as well. We were able to get our hands on the UBS report and will provide some highlights in a separate post or report.

We’re glad Medallion is resuming its work, as we remain convinced processing monazite could be a (part of the) solution for the looming supply deficit on the REE market. It should be easier, cheaper and faster to process monazite rather than permitting and building a large new REE mine.

Go to Medallion’s website
The author has a long position in Medallion Resources. Medallion is a sponsor of the website. Please read the disclaimer

Related

Comments

comments

Comments are closed.