Medallion Resources Ltd, which is focused on rare-earth production, has boosted its board of directors with the addition of Daniel Mamadou and Gabriel Alonso-Mendoza.
Both are active participants and investors in the rare earth space and bring extensive commercial and financial experience, the firm said.
Mamadou is the founder and executive director of Singapore-based Welsbach Holdings, which invests in the discovery and development of metals and materials critical to the global energy transition. Before that he co-founded Talaxis Ltd, a subsidiary of Noble Group focused on the development of supply chains of technology metals and materials.
Meanwhile, Alonso-Mendoza co-founded Amvest Capital Inc to support companies seeking growth capital within the natural resource sector. Throughout his career, he has raised and invested over $1 billion for companies in the mining and metals, oil and gas, and agriculture industries.
"The addition of Daniel Mamadou and Gabriel Alonso-Mendoza to the Medallion board is a key moment for the company, providing a new level of financial and commercial capacity,” said Mark Saxon, CEO of Medallion.
"Both Daniel and Gabriel have impressive records, and their contributions to Medallion’s strategy and growth are highly anticipated."
Vancouver-based Medallion is focused on extracting rare earths from monazite, an abundant byproduct of heavy mineral sands mining, and has developed a proprietary technology to do so.
The positive findings of a techno-economic assessment (TEA) on the technology were recently published. It also has a patented Ligand (NASDAQ:LGND) Assisted Displacement (LAD) Chromatography process for solvent-free rare earth element separation.
The firm recently inked a non-binding memorandum of understanding (MoU) for the single-use application of these technologies in southeastern Australia.
Contact the author at giles@proactiveinvestors.com