Proactive Investors - Run By Investors For Investors

Medallion Resources brings in nearly $600K to advance its rare earth production

Medallion Resources is focused on low-cost, near-term, rare-earth element (REE) production
Pictured are rare earths
Medallion is focused on low-cost, near-term, rare-earth element (REE) production

Medallion Resources Ltd (CVE:MDL)(OTCQB:MLLOF) has raised gross proceeds of $597,510 after it closed the first tranche of its $630,000 non-brokered private placing, to be used for further metallurgical test programs, for customer and feedstock supply development work and for general working capital.

Medallion Resources is focused on low-cost, near-term, rare-earth element (REE) production by exploiting monazite, a by-product from mineral sand mining operations.

Medallion issued over 6.6 million shares in the first tranche at $0.09 per unit.

Each unit consists of one company share and one-half of a transferable share purchase warrant. Each warrant is exercisable to acquire one further share at an exercise price of $0.15 until March 26, 2022.

Monazite is rich in the rare earth elements neodymium and praseodymium, collectively also known as 'NdPr', which is used for lightweight, powerful rare earth permanent magnets.

Contact Giles at [email protected]

Follow him on Twitter:Gile74 

View full MDL profile View Profile

Medallion Resources Timeline

Related Articles

This Nanocube Memory Ink targets the global multi-billion dollar printed electronics market
February 12 2019
It has an Internet of Things data ink along with Pilbara ground prospective for conglomerate gold.
1550831985_lithium-100118-2.jpg
February 22 2019
The rate of progress on the Bougouni project has been very encouraging
Pacific American Coal's Elko coking coal project in Canada
January 10 2019
The company drilled the project in 2018 and is waiting on laboratory assays.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use