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VANCOUVER, British Columbia, April 14, 2021 (GLOBE NEWSWIRE) — Medallion Assets Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Firm”), pronounces completion of a collection of diagnostic take a look at work on the Australian Nuclear Science and Know-how Group (ANSTO) in Sydney, to extract uncommon earth components (REE) from mineral sand monazite. The monazite was sourced from an Australian mineral sand mine. Dialogue is ongoing with further potential suppliers.
Mineral sand monazite is an considerable REE-rich feedstock, that may be accessed as a by-product from world mineral-sand mines that concentrate on zirconium and titanium, with out the necessity for added mining. Medallion’s enterprise mannequin is centered on the Medallion Monazite Course of, a transferable and scalable know-how designed to just accept a number of mineral-sand monazite feedstocks and extract high-value REEs with excessive effectivity, excessive restoration and 0 liquid waste.
Present and ongoing take a look at work is targeted on correlating low value “diagnostic” mineralogical and chemical information from “run of mine” monazite, sourced from working mines and potential producers, with extraction outcomes from the Medallion Monazite Course of. This rising information financial institution will guarantee optimum course of situations will be anticipated for all monazite sources and optimum websites recognized for a Medallion Monazite Processing hub.
The diagnostic take a look at work builds upon analysis accomplished by Medallion over the previous 5 years in Saskatchewan, Canada. ANSTO’s deep expertise in REE-processing and mineral sand monazite makes it an unmatched analysis accomplice for Medallion’s ongoing work.
Medallion makes use of Life Cycle Evaluation (LCA) as a software to assist cut back the environmental and CO2 impression of REE manufacturing wherever potential. Processing mineral-sand monazite near supply presents probably the most sustainable answer versus lengthy distance transport. As Australia, South East Asia and the Indian Ocean area are the dominant world sources of mineral sand monazite, increasing analysis networks on this area, with companions like ANSTO, is extremely related for future enterprise alternatives.
“The examine we now have simply accomplished at ANSTO allows us to be more and more predictive towards REE- extraction and separation course of situations,” mentioned Mark Saxon, CEO and President. “By buying a easy set of knowledge from monazite suppliers, we will be predictive on the method situations, prices and amount of market-ready REE merchandise.”
Techno-Financial Evaluation (TEA) Replace
Using impartial consultants, Medallion is presently finalizing a Techno-Financial Evaluation (TEA) and Life Cycle Evaluation (LCA) for the Medallion Monazite Course of (see press launch dated November 10 2020) and January 5 2021. These research draw collectively Medallion’s engineering, monetary and environmental impression information and can turn into the muse of Medallion’s know-how execution technique.
Supply of the TEA has sadly been impacted by COVID-19 staffing restrictions inside consulting service suppliers. Outcomes are actually anticipated by mid-Could 2021.
Mark Saxon additional commented, “whereas reporting delays are by no means ideally suited, we acknowledge the present challenges and restrictions confronted by consultants and researchers within the execution of their enterprise. The monetary and LCA mannequin is a far-reaching examine that can enable us to match and prioritize working places and feedstocks to make sure probably the most worthwhile and lowest-environmental impression choices are made.”
About Medallion Assets
Medallion Assets has developed a proprietary course of and associated enterprise mannequin to attain low-cost, near-term, rare-earth factor (REE) manufacturing by exploiting monazite. Monazite is a rare-earth phosphate mineral that’s broadly accessible as a by-product from mineral sand mining operations. Moreover, Medallion has lately licensed an modern REE separation know-how from Purdue College which will be utilized by Medallion and sub-licensed by Medallion to third-party REE producers.
REEs are essential inputs to electrical and hybrid automobiles, electronics, imaging techniques, wind generators and strategic protection techniques. Medallion is dedicated to following greatest practices and accepted worldwide requirements in all points of mineral transportation, processing and the protected administration of waste supplies. Medallion makes use of Life Cycle Evaluation methodology to help funding and course of determination making.
Mark Saxon, President & CEO Donald Lay, Director & VP, Company Growth +1.604.681.9558 or i[email protected]
Neither TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.
Medallion administration takes full duty for content material and has ready this information launch. Among the statements contained on this launch are forward-looking statements, comparable to statements that describe Medallion’s plans with respect to the completion of further tranche(s) of the Providing and the supposed use of the proceeds. Since forward-looking statements tackle future occasions and situations, by their very nature, they contain inherent dangers and uncertainties, together with the dangers associated to market situations and regulatory approval and different dangers outlined within the Firm’s administration discussions and evaluation of economic outcomes. Precise leads to every case might differ materially from these at present anticipated in these statements. Additionally, as a way to proceed with Medallion’s plans, further funding shall be crucial and, relying on market situations, this funding is probably not forthcoming on a schedule or on phrases that facilitate Medallion’s plans. These forward-looking statements are made as of the date of this press launch, and, aside from as required by relevant securities legal guidelines, Medallion disclaims any intent or obligation to replace publicly any forward-looking statements, whether or not on account of new data, future occasions or outcomes or in any other case.
Supply: Medallion Assets Ltd.