TSX-V-listed junior Medallion Resources, which is pursuing production of magnet metals, believes the time is right to start selecting potential sites for a rare-earth plant as part of a strategy to rebuild a North American rare earth value chain.
The company is seeking third-party proposals to advance the development of a North American extraction plant, with one proposal calling for the evaluation of logistics and plant sitting operations in the US and Canada, while the other calls for the development of the process engineering design for Medallion’s rare-earth flowsheet.
Rare earths have been front and centre in recent months, as a result of the trade friction between China and the US. These metals are also increasingly important to the electrification of transportation, particularly electric vehicles.
During the last two months, prices of the key magnet metals, such as neodymium and praseodymium, collectively known as NdPr, have moved up more than 25%.
Medallion’s share price also responded positively during this time, more than doubling from C$0.10 a share in mid-May, to C$0.24 a share by mid-June. Although the shine has come off in recent days, the stock still traded at C$0.18 a share on Monday.
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