Medallion Resources Ltd. (TSX-V:MDL, OTCQB:MLLOF) said it has appointed Dr Kurt Forrester as a director of the company, signaling a significant strengthening in the technical capacity of the board.
"Having worked with Kurt on a range of engagements over the past decade, I am particularly pleased to welcome him to the Board," Mark Saxon, Medallion's president and CEO, said in a statement. "Kurt's knowledge of process technologies for REEs (rare earth elements) and other critical materials is second to none, and he will deliver excellent guidance and support as we grow the business."
Medallion noted that it is expanding its exposure to the technologies essential for the energy transition including the rare earth elements, where Dr Forrester holds extensive expertise and connections.
Currently, Dr Forrester is Chief Technology Officer of SD Capital Advisory, a UK-based boutique financial services firm, where he leads a technical team structuring, arranging and securing project finance for large industrial and resource projects.
WATCH: Medallion Resources looks to the rare earths market in 2022
Medallion noted that in his 16-year career, Dr Forrester has been professionally engaged as an engineering consultant in the metals and minerals, environmental and applied research domains. He has broad experience across commodities and technologies including in base metals, rare earth elements and industrial minerals. A Chartered Chemical Engineer and Chartered Professional Metallurgist, Dr Forrester is graduate of the University of Sydney with a BEng (Hon 1st) in Chemical Engineering and more recently with a PhD in Engineering.
The company also noted that Daniel Mamadou has resigned as a non-executive director to pursue other engagements, and will join Medallion's Advisory Board.
Additionally, Medallion said that as previously announced, Chardan Capital Markets LLC is advising the firm on a US market up-listing strategy, and a concurrent financing. The company noted that it has made significant progress towards preparing documentation required for this initiative, however, any up-listing and financing remain subject to regulatory approvals.
Medallion Resources has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element production by exploiting monazite, a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations.
Contact the author at jon.hopkins@proactiveinvestors.com