Find the news release on CEO.CA here, https://ceo.ca/@nasdaq/innord-signs-loi-for-magnet-waste-with-us-based-magnet
It is my pleasure to share my first #NewtonInterviews with Mr. Kiril Mugerman, CEO of GéoMégA Resources (TSXV:GMA). Note that this is sponsored content.
The thrust of the news is a first source of feedstock for GéoMégA. For me, the surprise is the providence of the source, a "NdFeB magnet manufacturer based in Texas". Who's talking about a North American supply chain for critical materials? GéoMégA is part of that conversation.
The numbers are great, with GéoMégA "to acquire up to 1,000 kg per month of feed material for extracting and refining rare earth oxides using its proprietary ISR technology." It is a non-binding Letter of Intent, but it has room to be doubled and "shall be in effect for a minimum of 1 year". Watch for another NR detailing announcement of the effective date of the definitive agreement.
As they say in the news release, "The purpose of this agreement is to begin securing enough material for a commercial production plant to be set up in Quebec, Canada that will be able to process 1.5 tonnes of feed per day or 500 tonnes per year." Okay!
Thanks again to Mr. Kiril Mugerman, CEO of GéoMégA Resources (TSXV:GMA) for this interview. Follow the company on twitter for more.
