Business
Medallion Resources -- Plans for 2016
VANCOUVER, BC--(Marketwired - January 28, 2016) - Medallion Resources Ltd. (TSX VENTURE: MDL) (OTC PINK: MLLOF) ("Medallion" or the "Company"), today provided a
About this update from Gamma Resources Ltd.
[{"type":"text","content":" VANCOUVER, BC--(Marketwired - January 28, 2016) - Medallion Resources Ltd. (TSX VENTURE: MDL) (OTC PINK: MLLOF) (\"Medallion\" or the \"Company\"), today provided an update on its plans for 2016 with a focus on moving towards rare-earth production. \"2015 was a difficult year for the rare-earth marketplace, but we made important progress, albeit at a measured pace,\" said Don Lay, Medallion President & CEO. \"As a result of last year's positive bench-level metallurgical tests and feedback from prospective customers, we can now focus on scaling up our rare-earth extraction process and building relationships with potential customers. These objectives, along with attracting capital, constitute the next steps toward achieving commercial production.\" Medallion believes that it is well-positioned to move forward in advancing to rare-earth concentrate production, even with the limited capital available in the current marketplace. The Company's priorities for 2016 are as follows: Pilot Plant Using our existing metallurgical flow sheet, which was validated in our recent bench-level tests, we will be requesting proposals from qualified mineral labs to scale up to the pilot-plant level. Scaling up the process is important to further optimize the flow-sheet, produce larger sample volumes of products and by-products, and implement re-cycling processes. Importantly, a pilot plant also will allow Medallion to test the operating parameters for the variety of monazite input feedstocks currently under consideration. The metallurgical techniques are time-tested and well-known; therefore significant technical hurdles at the pilot plant operation level are not anticipated. The Company will need to raise additional capital before committing to a pilot plant operation. Customer Engagement Medallion's initial mixed rare-earth concentrate samples from bench-level tests were well-received and recognized as suitable input by rare-earth separation plants (refineries). Refineries purchase and separate mixed rare-earth chemical concentrates into higher-value, individual rare-earth oxides and refined rare-earth products. Close collaboration with refiners is important in order to meet their input specifications, and the timing and volume of shipments -- this work takes significant lead time. As such, we will be devoting more attention in 2...