Medallion Resources Ltd. (CVE:MDL) at the appeal of Canadian regulatory consultant IIROC, confirmed that its management is uninformed of any substantial change to the firm or its commerce that would account for the fresh volatility in market activity.
The market prices of tradable REE oxides have moved up in the last few months. Medallion Resources recently reported that it has hired the Saskatchewan Research Council to carry out advanced process test-work for further growth of the firm’s REE extraction procedure from monazite. It should be noted that monazite is a REE phosphate mineral. The test-work, utilizing sample monazite from a fresh heavy-mineral sands manufacturer, aims to offer the technical confirmation required to implement a planned, unified REE-extraction model plant.
Medallion endures to advance technical and business associations with heavy-mineral sands mining workers in order to evaluate and get monazite-sand feedstock for the firm’s intended REE-extraction plant. The company is also dealing with potential customers, both existing solvent extraction-grounded REE refiners and unique technology-based refining units, to deliver clean, premium REE chemical concentrates.
Medallion has previously revealed that it is open to strategic partnerships, equity investment and alternative financial plans to offer minimally dilutive fund to advance its business. The company is advancing a plan for near-term, low-cost, rare-earth element production by exploiting monazite. It is a rare-earth phosphate mineral widely accessible as a by-product of mineral sand mining activities. REEs are major inputs to hybrid and electric vehicles, electronics, wind turbines, strategic defense systems and imaging systems.
Medallion is dedicated to best practices and approved international standards in all sides of mineral transportation, the safe management and processing of waste materials. The trading company’s stock on March 2, 2017 was halted by IIROC, which can make a decision to put a temporary holdup of trading in a security of a firm, usually in expectation of a material news statement by the company.
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