GeoMegA’s Britt on positive hydrometallurgical results and high recoveries of rare earths and niobium
June 1, 2015 — In a special InvestorIntel interview, Publisher Tracy Weslosky speaks with Simon Britt, President and CEO of GeoMegA Resources Inc. (TSXV: GMA) about the recent positive hydrometallurgical results and their high recoveries of rare earth elements (“REE”) and niobium. They further discuss the quality of work completed to achieve these hydrometallurgical results and their focus on the magnetic REE which are needed for permanent magnets. The high recoveries in combination with the low hydrochloric acid consumptions the company just announced should translate into lower operating costs and could significantly boost project economics.
Tracy Weslosky: Congratulations you just put out your hydrometallurgical results and they were prominent, very good.
Simon Britt: Yes, we think so — that’s 3½ years of work. The key numbers here is the asset required to extract both rare earths and niobium. These are very high recoveries. Neodymium, and praseodymium, a unique duo-product with niobium is also extracted. About 58 kilos of hydro-chloric acid per ton. To our knowledge it’s unheard of.
Tracy Weslosky: For those in the InvestorIntel audience that keep calling me and telling me, what rare earth company they should be looking at, here’s an excellent one for you to be looking at. I would like you to back up and tell us a little bit about GeoMegA for some of our audience that may not be familiar with you.
Simon Britt: GeoMegA is developing the Montviel rare earth project, rare earth and niobium project. It’s located in Québec, road accessible, and close to infrastructure. The initial resource was published in September of 2011. It’s a big resource. The update should come now that we’ve concluded the hydromet part, we should be able to fix the operating cost, which we will now release in the updated resource next June. In parallel, about 3½ years ago we started an R&D program addressing the separation issue that we’re currently facing. We feel this is where the soft spots are where basically China controls the market and all the supply chain, which is after the oxide, the separated part. We have had huge success in 2014 with the early disclosure of our separation results and are looking forward to moving up with the scale up of the separation process. Now that the hydromet part is concluded, the preliminary economic assessment will be our main focus moving forward.
Get our daily investorintel update
Tracy Weslosky: I’d like to back you up and have you give us a bit of an overview and highlight the major permanent magnet metals that you have that everybody in the world is looking for.
Simon Britt: Well, the key metal for us is neodymium. Currently with the recoveries and the throughput we’re expecting it’s about 40-45% of the revenues. Second on that list is praseodymium. We also very high recovery of it, that’s projected to be about 20% of the revenues along with carbonatite. We have a heavy rare earth zone which is rich in dysprosium, another one of the prominent metals for permanent magnets. We’ll see how it ends up in the mining scenario in terms of throughput. And there is a touch of terbium. Basically those are the top four that we consider. The market is showcasing that this is the sector you want to be in.
Tracy Weslosky: Of course processing techniques are all the buzz in this sector right now. I mean, to be one of the leaders, which clearly you are, you have to have a plan of action. Can you just go through what you’re planning right now?
To access the complete interview, click here.
Disclaimer: GeoMegA Resources Inc. is an advertorial member of InvestorIntel.
An accomplished entrepreneur and corporate finance professional, Tracy Weslosky is the CEO for InvestorIntel Corp. and the VP of Business Development for Bellotti Capital Partners ... <Read more about Tracy Weslosky>