Resource World Magazine

A U G U S T / S E P T E M B E R 2 0 1 7 www.resourceworld.com 51 inferred resources of 2.58 million tonnes. Globex Mining Enterprises Inc. [GMX- TSX; GLBXF-OTCQX; G1MN-Germany] is essentially a mineral bank and has inter- ests in about 145 properties covering a wide variety of commodities including the Shortt Lake gold-REE mine in Québec. Medallion Resources Ltd. [MDL-TSXV; MLLOF-OTC] is developing a low-cost, near-term REEs production by exploiting monazite, a rare earth phosphate mineral widely available as a by-product from mineral sand mining operations. The com- pany and Rare Earth Salts Separations and Refining LLC, a leading materials technology company, have executed a non-exclusive commercial agreement to produce, market and share revenues from the sale of finished rare-earth products. Medallion would produce and supply rare-earth concentrate to Rare Earth Salts for separation and refining into marketable rare-earth oxides. Initial production vol- umes are expected to be 500 tonnes/year of REO beginning in 2019 and growing over time to 3,000 tonnes/year. Lynas Corp. [LYC-ASX], which is slowly gaining market share, is an Australian rare earths mining company with two major operations: a mining and concentration plant at Mount Weld, Western Australia, and a refining facility at Kuantan, Malaysia. Blue Line Corp. of San Antonio, Texas manufactures REE chemicals. SonoAsh LLC of Vancouver, BC has developed a process that provides an economically viable way of recovering strategic metals and REEs from coal ash impoundments. Innovation Metals Corp. is a private Toronto-based company that provides low- cost separation and purification processes to the critical metals industry, enabling mining companies to compete in today's global marketplace. The company devel- oped the RapidSX™ process using the solvent-extraction separation process. The patent-pending process has been used suc- cessfully at pilot scale, to separate REEs, as well as nickel and cobalt. Avalon Advanced Materials Inc. [AVL- TSX; AVLNF-OTCQX; OU5-FSE] has been focusing on its Separation Rapids lithium and East Kemptville tin-indium projects; however, the company still holds its fea- sibility-stage Nechalacho REEs Project at Thor Lake, Northwest Territories. Nechalacho will be re-activated when the REEs market improves. Greenland Minerals and Energy Ltd. [GGG-ASX; GDLNF-OTC; FSE] is develop- ing the Kvanefjeld Project in Southern Greenland. A subsidiary of leading rare earths company Shenghe Resources Holdings Ltd. has invested $4.625 million to acquire a 12.5% stake, as a precursor to a more strategic relationship. The project, near deep tidewater, hosts a JORC com- pliant resource of 10.4 million tonnes of TREO, 370,000 tonnes of heavy REO, 575 million lbs U 3 O 8 , 840,000 tonnes of yttrium oxide and 2.24 million tonnes of zinc. Quest Rare Metals Ltd. [QRM- TSX; QRMLF-OTC] has filed a Notice of Intention to claim bankruptcy. PricewaterhouseCoopers has been appointed trustee. The company said the decision was made based on a major indus- trial conglomerate not following through with an investment in Quest's 100%- owned Strange Lake rare earths project 225 km northeast of Schefferville. This plan will allow Quest to restructure the company and find other funding sources. Quest reported identifying potentially significant improvements to the mineral processing flowsheet. If realized, a concen- trate better suited for hydrometallurgical processing with a higher grade of combined dysprosium, terbium, praseodymium and neodymium could be produced on-site at its proposed mining and milling facilities. Indicated resources are 278.13 Mt at 0.93% TREO. Inferred resources are 214.35 Mt at 0.85% TREO. A PEA stated the IRR would be a pre-tax 20.1%, CapEx of $1.631 billion, an NPV of $1.416 billion and a payback of 5.3 years. Namibia Rare Earths Inc. [NRE-TSXV; NMREF-OTC] is advancing its Lofdal rare earth project that covers a 200 km² carbon- atite complex with exceptional heavy rare earth-enrichment (>80%). The project is

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