Rare Earth Recycling Demonstration Plant of Geomega

Rare Earth Recycling Demonstration Plant of Geomega

Geomega Resources Inc. is a developer of clean technology for rare earth mining, refining, and recycling, and is pleased to provide shareholders with the latest updates on rare earth recycling demonstration plants and other current Corporation research and development initiatives information.

With the joint efforts of external and internal engineers, the project of the demonstration plant is progressing smoothly.

To complete and/or update process calculation models, flow tables, process flow diagrams, heat and mass balance, process design standards, process control logic and diagrams, operation plans, exhaust gas treatment, and related safety Review, engineers have been reviewing all test work and results, since the completion of the pilot test work that released the results in January 2021.

The initial quotation for plant equipment has been received and is being updated regularly based on any changes (such as equipment dimensions) caused by the above work.

Work in the past six months has shown that the technology can be scaled up to demonstration plants. In addition, during the normal operation of the plant, it will not cause liquid leakage and can produce by-products of boron and cobalt compounds. Finally, an internal study showed that it produces fewer greenhouse gases than traditional mining methods.

The work in the laboratory is continuing to study various magnet feeds from different magnet manufacturers. The goal of this work is to ensure that the technology can handle a multitude of chemical substances and resources that need to be processed as the capacity of the demonstration plant increases from 1.5 tons to 4.5 tons per day.

The Corporation has been studying 4 different magnet residue samples provided by some of the largest magnet manufacturers in Japan and Western manufacturers in China.

Since swarf is one of the largest potential supply streams in the future, testing and studying swarf is critical for evaluating recovery rates and economics. Each manufacturer’s sample has its own characteristics, and the company proposed and tested a pretreatment method where needed.

The conclusion of our engineering team is that rare earth recovery technology seems very powerful and can handle the various streams mentioned above.

R&D activities for other key and strategic metal streams are also continuing.

In the past 18 months, the size of the technical team has tripled. Part of the team is dedicated to the work of the demonstration plant, while other members learn to acquire expertise and apply it to potential feeds in the Montviel rare earth project.

The Corporation's ability to recycle its main reagents is a key component of providing environmentally friendly solutions to the mining industry.

"Creating new sustainable technology to recycle rare earths is challenging and our team of researchers and engineers has been successfully completing the required tasks to establish a solid foundation for our demonstration plant for it to become a success.

Being fully funded for construction, we are focused on reaching production from the demonstration plant which will serve as the backbone of our technology as we gradually try to apply it to Montviel, bauxite residues, and other materials.” commented Kiril Mugerman, President and CEO of the Corporation.

Geomega has developed innovative rare earth recycling technologies for the extraction and separation of rare earth elements and other key metals for the future. Rare earth magnets or new magnets are mainly used in renewable energy, vehicle electrification, and automation, aiming to reduce energy use, and are the core of all these technologies.

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