Medallion Resources (MDL.V) is still making slow but steady progress in its attempts to develop an automated process to extract Rare Earth Elements form Monazite, a waste product of mineral sands operations.
After having released positive news in 2018 on the effectiveness and efficiency of its planned flow sheet as well as meeting the specifications required by Rare Earth Salts which operates the facility in Nebraska where Medallion will very likely send its REE concentrate to, MDL announced it qualified for up to C$50,000 in federal funding through the NRC IRAP (‘National Research Council of Canada Industrial Research Assistance Program’) to further advance the test work on its REE process.
This test work will be carried out by the Saskatchewan Research Council and will cost up to C$80,000, of which the majority will be funded by the federal grant. This new test work will provide additional data on the uranium and thorium waste materials that will be separated from the ‘pure’ REE’s in the concentrate, and this will allow Medallion to get a better idea of how it can safely discard these waste products.
2019 will be an important year for Medallion, as we expect the company to finalize its flow sheet and enter into agreements to secure monazite and to agree to terms to sell its REE concentrate to a separator.
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The author has a long position in Medallion Resources. Medallion is a sponsor of the website. Please read the disclaimer
