“We are very pleased to commence trading on the OTCQB. This listing will broaden our shareholder base in the U.S. and aligns with our corporate objective to offer a rare earths recycling solution to the U.S. which due to its dependence on imports of neodymium magnets, has significant national security implications.” commented Kiril Mugerman, President and CEO of Geomega.
“We are thrilled to be working on such an important environmental global challenge. Aluminum, the most produced non-ferrous metal in the world, is a key material of the 21st century for such major industries as transportation, aviation, construction and many other sectors. In the environmentally conscious world we now live in, local environmental regulations and social acceptability dictate that now is the time to find a solution to BR storage. There is a tremendous economic potential benefit as well, as every tonne of BR contains between USD $80 and USD $120 worth of critical and strategic metals that are becoming imperative to recover. We believe that Innord’s technology is well positioned to offer economic and environmentally innovative solutions to sustainability challenges. We look forward to continue advancing the technology towards larger scale testing.” commented Kiril Mugerman, President and CEO of Geomega.
“Geomega is in a strong position financially and is well positioned to reach production from the rare earths recycling facility. Similarly, the funds available have given us the ability to accelerate our research and development initiatives to evaluate our technology to extract and refine rare earths and other critical metals from a broader range of mining feeds, including mining and industrial waste streams (tailings). Most recently, our process has been successfully demonstrated at the magnet recycling pilot plant to produce hydrogen as a by-product that could be collected (see news) and therefore Geomega continues to evaluate opportunities and synergies in this important emerging clean energy fuel in Quebec and globally. We are confident that our rare earths recycling plant and the associated technologies will be critical in the foreseeable future to become less dependant on foreign entities for the supply of critical and strategic metals, to help develop the circular economy for many of these metals and to reduce mining and industrial waste.” commented Kiril Mugerman, President and CEO of Geomega.
“It was only a question of time before companies like Everwin have decided to bring the expertise they have developed over decades in the magnet industry in China to Canada. The favorable energy rates, a healthy labour market, direct access to the North American market, the growing electric vehicle sector and now a recycling facility with Geomega to process magnet scraps and swarf, make Canada an ideal location to develop a magnet facility. We are very excited to be working with Everwin as they look to start production in Canada. This type of operation will produce on average 25% magnet waste and swarf that will need to be recycled at our rare earths recycling facility in St-Bruno.” commented Kiril Mugerman, President and CEO of Geomega.
“Having a fully operational Pilot Plant has provided Geomega with the necessary validation to proceed to the next stages of engineering, finalize discussions with vendors and launch procurement. Additional development and details on these activities will follow. We fully expect 2021 to be a transformational year for Geomega shareholders with the upcoming construction of the demonstration plant and its start of production of rare earth oxide using recycled magnets, a first in the Western world. We believe that the accelerated demand growth for renewable energy and the electric vehicle sectors, coupled with industries and governments striving for zero waste and reductions in greenhouse gases, is going to result in an even larger demand for recycling rare earths from magnets and other sources. Geomega is looking forward to providing the required clean technology in the critical metal space to achieve a circular economy for rare earth magnets with its initial demonstration plant to be showcased in St-Bruno, Quebec.” commented Kiril Mugerman, President and CEO of Geomega.
“We are very pleased with the closing of this financing. The majority of the Offering was subscribed by new investors who are seeking both near-term cash flow opportunities and Environmental, Social and Governance (“ESG”) investments in the critical and strategic minerals (CSM) space. Geomega’s activities are also aligned with the Government of Quebec Plan for the Development of the Critical and Strategic Minerals with a budget of $90M that was just recently unveiled on October 29, 2020. This government-sponsored financial initiative is aimed at creating wealth while continuing the green energy transition, essential for the fight against climate change. The government’s vision is to make Quebec a leader in CSM production, transformation, reclamation and recycling. The circular economy concept, of which Geomega’s proprietary rare earth magnet recycling project is an integral part of, is at the core of this plan as stated by Benoit Charette, Minister of the Environment and the Fight Against Climate Change during the announcement.” commented Kiril Mugerman, President and CEO of Geomega. You can read more about the Plan for the Development of CSM in Quebec here.
“I am pleased to report to shareholders Geomega is at a very exciting inflection point in its history thanks to the tireless efforts over the last 12 months by our team. Pilot testing is progressing very well which is critical for detailed engineering. We are looking forward to start ordering the main equipment for the facility that will house production of rare earth elements from magnet recycling. Many thanks to our loyal shareholders who are ready to embark on the next stage of this exciting journey: Using our clean technology to produce rare earth elements from recycling magnets and eventually from other sources such as mining and tailings.” commented Kiril Mugerman, President and CEO of Geomega.
“This comprehensive investment by our government is intended to encourage the development of a green economy. This is a major aspect of the Geomega project. Also, recycling rare earths elements is an avenue for the enhancement and development of critical and strategic minerals in Quebec. With technologies and the energy transition, demand is strong for these minerals.” Jonatan Julien, Minister of Energy and Natural Resources, Minister responsible for the Côte-Nord region.
“Geomega’s corporate goal is to develop innovative technologies for extraction and separation of rare earth elements and other critical metals essential for a sustainable future,” said Kiril Mugerman, President & CEO of Geomega. “The technologies in question will differ from the ISR technology that was developed for recycling of rare earths from permanent magnets. Nonetheless, irrespective of the metal or the source, we are adopting a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases (GHG) emissions through recycling of the major reagents in the process and reducing net energy consumption.”
“We are very pleased with the results received and the improved process for rare earths recycling from permanent magnets.” said Kiril Mugerman, President & CEO of Geomega. “The pilot test runs will provide demonstration to Geomega of the modifications that were done over the last 7 months and will support the Corporation in performing the next phase of engineering work, which will then allow us to proceed with vendor selection and equipment ordering. Although we have encountered delays both in engineering and in general due to the COVID-19 pandemic, our project is advancing well. We are continuing discussions with potential suppliers and construction partners and will provide additional information when available. As North America appears to be establishing domestic permanent magnet production in North America, we believe the timing of our development of our demonstration plant at St-Bruno, Quebec is right and Geomega is looking forward to being part of the global circular economy for rare earths.” Added Mr. Mugerman.
“We are very excited to be working in collaboration with USA Rare Earth. We both share the same vision to bring rare earth magnet production back to North America while securing the critical rare earth elements using Geomega’s clean technology to process magnet waste.” said Kiril Mugerman, President & CEO of Geomega. “It is exciting to be part of USA Rare Earth mine-to-magnet strategy which we can participate in and support using our rare earth clean recycling technology. Establishing a partnership initiative such as this in North America will prevent any supply chain disruptions from China for these critical elements. Every rare earth magnet factory produces waste. By working together, Geomega and USA Rare Earth will ensure that the rare earths contained in this waste shall remain in North America and are then reused to make more rare earth magnets for the U.S. and Canadian markets that comply with the McCain National Defense Authorization Act. It will be a great opportunity to demonstrate to global magnet manufacturers that there are innovative solutions to obtain rare earths from trusted sources that don’t harm the environment and produce less greenhouse gases than the current outdated methods used in China. Geomega’s vision is for every magnet factory to use our technology in order to recycle their waste and not be dependant on foreign entities,” added Mr. Mugerman.
“The grant of this patent acknowledges that our unique process has been recognized and protected.” said Kiril Mugerman, President & CEO of Geomega. “The Montviel metallurgy research executed in 2014 and 2015 (See news releases from April 29, 2015 and May 20, 2015) led to these patents, and set the framework for how Geomega operates today committed to lowering the environmental footprint of processes to extract and separate REE, reagent regeneration and minimizing the amount of effluents and solid waste that are generated. Geomega is in discussions with potential partners to use this expertise in metallurgical treatment of REE to help develop a western supply chain.”