Business
Medallion Resources Partners with Talaxis for Rare-Earth Element Production
VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Compan
About this update from Gamma Resources Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”) is pleased to announce it has entered into a services agreement with Singapore-based Talaxis Limited (“Talaxis”), a subsidiary of global trading house Noble Group Holdings Limited. The non-binding Memorandum of Understanding (“MOU”) specifies the terms for a close working relationship whereby Talaxis delivers to Medallion support for the global sourcing and transport of monazite, along with marketing of finished products from Medallion’s proposed rare-earth element (“REE”) extraction plant. Medallion and Talaxis anticipate a definitive agreement will be executed before the calendar year-end. Importantly, Talaxis is a founding partner in Medallion’s recently announced technical and financial consortium. The consortium was formed to accelerate the development of a comprehensive REE supply chain within the United States through the selection of proven technology and low capital risk pathways. Daniel Mamadou, Executive Director of Talaxis stated, “This MoU is another important development for Talaxis, which will further strengthen our position as the supply chain partner of choice in the technology metals industry. The North American focus of this MoU will bring added capability to all market participants while the short cycle supply chain will provide significant cost efficiencies. We are also very pleased to be partnering with Medallion, a leading technology provider in the REE industry, which will facilitate our expansion into North America. Developing a robust and cost-efficient supply chain positions us well as we continue to play our part in the global energy transition.” “Medallion will achieve excellent leverage by working with the Talaxis team,” said Medallion President & CEO Mark Saxon. “Talaxis brings operating knowledge and experience in the REE logistics markets that few can provide, greatly strengthening the business model being executed by Medallion. We see this relationship as a cornerstone of our current US-focused consortium initiatives”. Rare Earth Consortium (announced July 10, 2020) The Company recently announced the formation of a technical and financial consortium to accelerate development of a comprehensive US-based REE supply chain...