Medallion is preparing to produce rare-earth magnet materials in North America through the processing of by-product monazite sands in a modern, clean, safe, and automated process. Our approach is to extract and market a rare-earth concentrate with significant time and cost savings versus conventional hard rock mining. The monazite sands that Medallion is processing are rich in neodymium and praseodymium, also known as “NdPr.” NdPr is the critical input material for lightweight and powerful rare-earth magnets. These magnets are essential to Automotive and Robotics (electric motors), Defense (Missile Guidance Systems), and Clean Energy (Wind Turbines) industries. With the increasing demands for electrification and growing strategic importance of NdPr, automakers and other industry groups are seeking sources outside of the dominant Chinese rare-earth production value chain.