Medallion Resources Board of Directors Adds Two Investors in Rare Earth
- Category: tungsten‘s News
- Published on Tuesday, 24 August 2021 14:28
Medallion Resources Ltd. is pleased to announce that Daniel Mamadou and Gabriel Alonso-Mendoza have joined the board of directors. They are long-term active participants and investors in the rare earth element industry. Their joining has brought rich business and financial resources to the Medallion team.
"The joining of Daniel Mamadou and Gabriel Alonso-Mendoza on the Medallion Resources board is a pivotal moment for the company, and their joining provides a new level of financial and commercial capabilities of rare earth sector," said President and CEO Mark Saxon. "Daniel and Gabriel have both impressive experience, and their contributions to Medallion's strategy and growth are highly anticipated."
Daniel Mamadou is the founder and executive director of Welsbach Holdings, a Singapore-based company that invests in metals and materials that are critical to the global energy transition, and is committed to discovery and development. Before the establishment of Welsbach, Daniel co-founded Talaxis Ltd, a subsidiary of Noble Group, focusing on the development of technical metals and materials supply chains.
He was the director of Talaxis from 2015 until December 2020. In addition, Daniel's professional career has included senior roles at Deutsche Bank in London and Hong Kong, Goldman Sachs in London, and as Head of Corporate Solutions and Financing for Nomura Securities for the Asia-Pacific region. Daniel holds an MSc in International Securities and Banking from the ICMA Centre University of Reading, and a BA in Business Management from ESIC-Valencia.
Gabriel Alonso-Mendoza co-founded Amvest Capital Inc. to support companies seeking growth capital in the natural resources sector. During his career, Gabriel has raised and invested more than $1 billion for companies in the mining and metals, oil and gas, and agricultural industries. Gabriel graduated from Miami University with a degree in International Finance and Marketing. Before founding Amvest Capital, Gabriel worked on the buy and sell-side, ranging from an analyst to a junior partner.
In addition, Medallion announced the grant of 500,000 stock options to directors, following TSX Policy 4.4, and subject to the rules of the TSX Risk Exchange and company stock options. These stock options can be exercised at US $0.17 per common share to become part of the Medallion common stock plan. The term of the option is five years and will expire on August 18, 2026.
Medallion has developed a proprietary process and related business model to achieve low-cost, near-term rare earth element (REE) production through the development of monazite.
Monazite is a REE phosphate mineral that can be widely used as a byproduct of ore mining operations. In addition, Medallion recently obtained a license for an innovative REE separation technology from Purdue University, which can be used by Medallion and sublicensed by Medallion to third-party REE manufacturers.
REE is a key component of electric and hybrid vehicles, electronics, imaging systems, wind turbines, and strategic defense systems. Medallion is committed to following best practices and recognized international standards in all aspects of mineral transportation, processing, and waste safety management. Medallion uses life cycle assessment methods to support investment and process decisions.
Medallion focuses on the commercialization of proprietary technologies that can sustainably extract and separate REE with a minimal environmental footprint. This includes a proprietary method that utilizes mineral sand monazite as a low-cost REE source and recently published positive results of a technical and economic assessment ("TEA"), and a patented ligand-assisted displacement ("LAD") chromatographic process for no-solvent REE separation.
Medallion Resources recently signed a non-binding memorandum of understanding for one-off applications of these technologies about rare earth in southeastern Australia.
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