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Jon Bovi: News Technical, Financial Viability for Monazite Process;


Medallion says Techno Economic Assessment showed Technical, Financial Viability for Monazite Process; Up 10.4% in Frankfurt Trading
BY MT Newswires
— 9:17 AM ET 07/14/2021

09:17 AM EDT, 07/14/2021 (MT Newswires) -- Medallion Resources Ltd. ( MLLOF
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) on Wednesday reported the results of an independent Techno-Economic Assessment for the company's process that enables sustainable extraction of rare earth elements from mineral sand monazite.

The company, which rose 3.9% in Canada yesterday, climbed 10.4% in Frankfurt trading as at 2:47 pm CEST on Wednesday.

The assessment has demonstrated the technical and financial viability of the Medallion Monazite Process at this scale, the company said. Engineering was completed at an assumed 7,000 tons per annum scale.

The report showed that such a facility would deliver about 870 tons per annum of neodymium and praseodymium oxide in cerium-depleted mixed carbonate form. Other products from the Medallion Monazite Process include cerium oxide and trisodium phosphate.

Further, the company reported a capital cost estimate of US$34 million.

Price: 0.2700, Change: +0.0100, Percent Change: +3.85

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