“With Geomega moving towards production, the two Funds that greatly supported our […]

Please find attached all the required documents for the 2019 Annual General […]

“It is important to plan ahead, and we are glad that vehicle manufacturers are looking at ways of recycling permanent magnets. We see a significant increase in sales of electric vehicles and in installation of wind turbines world wide, two major consumers of permanent magnets. We already see supply becoming available from these applications and with only more becoming available every year. China is clearly ahead of the curve and has been recycling these scrap magnets for many years already by using their existing solvent extraction facilities. The ISR technology should fit in perfectly to help this growing problem of recycling permanent magnets outside of China.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.

“With the major development events over the last 12 months for our separation technology and its application in the recycling of permanent magnets, Innord and Geomega are well positioned to become a leader in rare earth extraction and refining. As our technology matures and scales up, we should be in a position to supply rare earth oxides to North America and Europe and be ready to develop our rare earth Montviel project when the markets improve to justify new REE mining projects.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.

“Electric vehicles need magnet-based motors. Permanent magnets need rare earth oxides. To make rare earth oxides you need raw materials. While we own a world class deposit in Montviel, current market conditions make it difficult to develop new rare earth mines. Innord’s ISR technology can process various feeds which gives us a major advantage to be able to start producing rare earth oxides from such an important industrial source. We believe that rare earth magnets are the future of the rare earth industry and developing the recycling of permanent magnets and permanent magnet residues is just as important as developing new mines.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.

Please find below the Management Circular for the Annual General and Special […]

“In 2015, when we received our first support from NRC IRAP, we were in the infancy of the separation technology developments. Three years later we can see the progress achieved which will be advanced through this new funding. Canada is committed to clean technology initiatives and everything we have developed and demonstrated to date supports the global transition to a low‐carbon, low‐pollution and resource‐efficient economy. We would like to thank NRC IRAP for their support which we believe will bring significant benefits to Canada in the field of rare earth elements and permanent magnets.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.

“Since April 2018, the main objective in the ISR technology development was to purify Dysprosium from Neodymium and other impurities in a cost‐efficient manner. To achieve that, we focused on increasing the separation factor. Any developing separation technology can purify Dy and Nd but doing it in just a few steps in high concentrations and in an environmentally sustainable and scalable way, is now a key selling point of the ISR technology. Now that we are comfortable with purifying the key rare earths out of magnetic residues up to 2 magnet purity oxides, we believe ISR is the missing link to bringing circular economy to the permanent magnet industry outside of China. We will be working with the various sections of the supply chain to make this circular economy a reality.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.

“This is another chapter for the development of the ISR technology in recycling rare earth elements from magnetic residues. We are dealing with an almost 10‐fold increase in our scale which will allow us, for the first time ever, to test the process in conditions resembling those of a commercial operation in a closed system. This first design will be used to thoroughly test the operating conditions, the robustness of the design and to check if any of the key parameters need adjustment due to the increased scale of the reactor. Conditional on successful results, all data will be used for the next scale‐up stage of another 5 to 10‐fold increase. The simple and scale‐up friendly design which are the staples of the ISR technology were confirmed during the construction period, as was shown by the short period of time that it took to receive and to put all the equipment together. Results of the upcoming scale‐up tests will be provided to the market gradually as testing progresses.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.

“With critical metals being so important to clean technologies and electric vehicles, we cannot afford to keep producing rare earth elements from old and polluting technologies. We are very excited to share some of our progress and findings at the upcoming event with the scientific community which has been putting a lot of focus on these issues for all the critical metals. Our research has been producing some exciting results over the last several years and it is starting to get noticed. Getting additional funding from the Federal and Provincial governments is very important to further the development of our REE and Critical metals processing technology which could ultimately bring new industries to Quebec and Canada.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.

“This is another major step in our development of the ISR technology. As we advance our scale up testing, we
are producing more and more material that we can now start offering to various groups who need the
material for research or product testing purposes. Furthermore, we are proud to say that this neodymium
oxide is produced in Canada through recycling, a major step in diversifying supply of rare earth elements and
making it more environmentally sustainable. We are proud of our achievements and believe that we are on
the right track to bring commercial production of rare earth elements to Canada in the future.” commented
Kiril Mugerman, President and CEO of GéoMégA and Innord.

“This is another major milestone achieved by Innord which brings us a step closer to providing an alternative source of supply of rare earth oxides to the permanent magnet industry outside of China. We will now be focusing on purification of other rare earth oxides, larger volume tests and demonstrations and moving towards building our initial larger capacity units prior to starting commercial production from industrial residues.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.