StockPulse Catalyst Clips: Geomega Resources

Hear from our CEO Kiril Mugerman at PDAC 2020 in this “StockPulse Catalyst Clip”.

Read an excerpt of Kiril’s comments here,

“We realized that there is this niche opportunity to enter a market where we are processing rare earths — not from a mining concentrate, but from industrial use and end-of-life applications. We developed our technology and we made sure that is clean, small-scale, and can produce cash as soon as possible. We did the pilot plant. From the pilot plant, we are now going to a demonstration plant. The demonstration plant is all financed now. We did the equity last fall and recently got debt from the government. We’ve already got quite a few suppliers of magnet waste. We want to process 1.5 tonnes per day with one 8 hour shift. Then, scale it up to 4.5 tonnes per day and use that to generate cash, credibility to our technology, and then build additional plants. The objective is, most likely, to put the second plant very close to where more magnets are being made, which is Japan and other countries in Asia. There are very few magnets made here in North America because we lost all that market to China. The most important thing is that magnet that’s made in China it’s still being shipped to North America to be used in today’s applications — the waste is here, but nobody’s been collecting it because there was nobody buying it. Now, we are going to be buying it, processing it, producing rare earths and we will be the first rare earth producer in North America.” Kiril Mugerman

Contact us to learn more.

PLEASE CONTACT US | Geomega Ressources

75 boulevard de MortagneBoucherville, QC, J4B 6Y4Tel: 450-641-5119 For investor relations inquiries, please contact: Kiril MugermanPresident & CEO, Tel: 450-641-5119