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GéoMégA Resources Inc. (GMA.V)

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  • GlobeNewswire

    Geomega Adds Technical and Operations Management Experience; Nominates Nicholas Nickoletopoulos to its Board of Directors

    MONTREAL, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX:V.GMA) (OTC: GOMRF), a developer of clean technologies for the mining, refining and recycling of rare earths, is pleased to announce that Mr. Nicholas Nickoletopoulos will be presented as a new nominee to the board of directors of Geomega. Director Jean Demers will not be standing for re-election. The new director will be proposed at Geomega’s Annual General Meeting (“AGM”) which will take place on Wednesday October 21st, 2020 at 10 a.m. (Eastern Time) at McMillan LLP 1000, Sherbrooke W, Suite 2700, Montréal, Québec.“As Geomega evolves to its next stage of growth, the company keeps adding new expertise and knowledge to its board of directors. Nicholas brings the technical metallurgical engineering background that was missing and adds to the operations management experience.” said Kiril Mugerman, President & CEO of Geomega. “His background in operations both in Quebec and abroad will be instrumental as the Corporation looks to expand its operations in the future. His knowledge of the metals processing industry could open the door to other industrial waste streams where critical metals could be extracted and are being lost today. Recruiting a Quebec-born candidate of his caliber who spent his career in manufacturing locally specialized goods and who successfully expanded outside the province is great for Geomega and demonstrates the deep and diversified pool of talent in Quebec. Additionally, I would like to thank Director Jean Demers for his contribution to the Corporation and wish him well in his future endeavours.”Mr. Nicholas Nickoletopoulos, P. Eng. (ON), Ph.D. brings over 25 years of operational, technical and executive management experience in the metals industry.  Currently, he is President, Managing Director and minority shareholder of Metalunic, a Quebec-based manufacturer of metallic building envelope products primarily composed of Canadian base materials. Previously, Nicholas led Urecon as President, CEO, minority shareholder and Director from 2013, a Canadian-based manufacturer of factory-insulated piping systems and insulated product solutions until its acquisition by Switzerland based Georg Fischer Ltd. in 2019 (FI-N on the SIX Swiss Exchange).  From 2009 to 2013, he was General Manager for Sivaco Wire Group and Ifastgroupe concurrently, both Quebec-based manufacturers of carbon and alloy steel products with 5 manufacturing facilities in Quebec and Ontario and 7 distribution facilities across North America.  From 1994 to 2009 he held various posts including Manager of Technical Services and Product Development and Director of Marketing for Ivaco Rolling Mills.  Dr. Nickoletopoulos sat on the Board of Directors of Durabox Paper Inc. from 2003 to 2016 until it was acquired by Supremex Inc. (SXP on the TSX). He sat on the Board of Wire Association International based in Madison, Connecticut, and acted as President and Chairman in 2012.  Dr. Nickoletopoulos holds a Ph.D. and a Bachelors degree in Metallurgical Engineering from McGill University and is a member of the Professional Order of Engineers of Ontario since 1997.About Geomega (www.geomega.ca) Based in Boucherville and St-Bruno, Quebec, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE), specifically Nd, Pr, Tb and Dy.The Corporation is advancing towards initial production phase from its demonstration plant to supply HHREE’s to North America and other parts of the world.Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.For further information, please contact:Kiril Mugerman President and CEO Geomega 450-641-5119 ext.5653 kmugerman@geomega.ca Nancy Thompson Vorticom Public Relations 212-532-2208 nancyt@vorticom.com Twitter: @Geomega_REE Cautions Regarding Forward-Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2020, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

  • GlobeNewswire

    Geomega to Develop Sustainable Technologies for Critical Metals

    MONTREAL, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX:V.GMA) (OTC: GOMRF), a developer of clean technologies for the mining, refining and recycling of rare earths, is pleased to announce that it is expanding and leveraging its Research & Development expertise. Geomega is currently evaluating the economic potential to extract and refine rare earths and other critical metals from a broader range of mining feeds, including mining and industrial waste streams (tailings). Geomega has begun to work with companies that are in production, and through testing at Geomega’s R&D test centre in Boucherville, the company will be evaluating the potential to extract value that is otherwise being lost today. Geomega’s intention is to apply its various technologies, through collaborative licensing and royalty agreements with several industrial partners, allowing for the extraction of valuable metals contained in their waste streams, which may not be economically, technologically, or environmentally feasible today. “Geomega’s corporate goal is to develop innovative technologies for extraction and separation of rare earth elements and other critical metals essential for a sustainable future,” said Kiril Mugerman, President & CEO of Geomega. “The technologies in question will differ from the ISR technology that was developed for recycling of rare earths from permanent magnets. Nonetheless, irrespective of the metal or the source, we are adopting a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases (GHG) emissions through recycling of the major reagents in the process and reducing net energy consumption.”“It’s unfortunate that so many critical metals, in quite large quantities, are lost in mine tailings and other waste streams when they could potentially be recovered using innovative processing technologies,” said Dr. Pouya Hajiani, Chief Technology Officer of Geomega. “When the majority of these mines were put into production, the value of some of these metals in the ore were given very little, if any, consideration. The traditional extraction technologies were not adequate in addressing environmental impacts nor were they economic. Furthermore, climate change requirements are driving a growing demand in critical metals. As such, we are in discussions with more companies that have become interested in re-evaluating the economics of extracting rare earth and other critical metals from their various streams while reducing waste, if possible, in the most environmentally conscious way possible,” added Dr. Hajiani.Geomega is already evaluating several feeds in the mining industry, e-waste, mining tailings and industrial waste that have significant value in metals such as cobalt, lithium, vanadium, nickel, niobium, titanium, tantalum, chromium and other metals.“Geomega’s team has steadily grown along with its expertise in metal extraction, purification and sustainable processes,” said Mugerman. “Our original objective was to develop clean and environmentally sustainable metallurgical processes for rare earth elements but, as we had developed our expertise, we recognized that more opportunities are appearing for other metals which are both critical and required for many of the technologies being adopted today in the renewable energy and vehicle electrification sectors. Currently, our focus is to continue working with companies in production with active streams that need immediate and difficult to address solutions. Our research and development team needs to be commended for bringing the ISR technology to the point whereby the rare-earth magnet recycling project is approaching a gradual hand-off to engineers for construction. This would create opportunities to evaluate other metals and other rare earth streams that could ultimately bring revenues to the Corporation in the form of royalties and licenses. Geomega is in discussions with several potential industrial partners which would facilitate funding opportunities from the various levels of government, who support green innovation technologies in the metal extractive sector. Ultimately, this will maximize shareholder value and generate various potential revenue streams,” adds Mugerman.About Geomega (www.geomega.ca) Based in Boucherville and St-Bruno, Quebec, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE), specifically Nd, Pr, Tb and Dy.The Corporation is advancing towards initial production from its demonstration plant to supply HHREE’s to North America and other parts of the world.Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.For further information, please contact:Kiril Mugerman President and CEO Geomega 450-641-5119 ext.5653 kmugerman@geomega.ca Nancy Thompson Vorticom Public Relations 212-532-2208 nancyt@vorticom.com Twitter: @Geomega_REE Cautions Regarding Forward-Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2020, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

  • GlobeNewswire

    Geomega Resources Inc. - Demonstration Plant Engineering Update

    MONTREAL, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX:V.GMA) (OTC: GOMRF), a developer of clean technologies for the mining, refining and recycling of rare earths, is very pleased to provide an update on engineering and development activities for the demonstration plant at St-Bruno, Quebec. Geomega has now received from Hatch Ltd (“Hatch”) process flow diagrams, equipment list, utilities, stream tables and a heat and mass balance for the process that was developed by Dr. Pouya Hajiani, Geomega’s Chief Technology Officer. Several modifications and improvements were made on the process, which will be undergoing several demonstration test runs using the Corporation’s pilot unit at its facilities in Boucherville, Quebec. The test runs of the updated process will also be used to collect data on emissions for permitting purposes. The modifications and improvements include a simplification of several units of operation, validation of various parameters for equipment selection and by-product recovery. The pilot test runs are all expected to take place during the month of August while other in-house engineering activities are continuing.“We are very pleased with the results received and the improved process for rare earths recycling from permanent magnets.” said Kiril Mugerman, President & CEO of Geomega. “The pilot test runs will provide demonstration to Geomega of the modifications that were done over the last 7 months and will support the Corporation in performing the next phase of engineering work, which will then allow us to proceed  with vendor selection and equipment ordering. Although we have encountered delays both in engineering and in general due to the COVID-19 pandemic, our project is advancing well. We are continuing discussions with potential suppliers and construction partners and will provide additional information when available. As North America appears to be establishing domestic permanent magnet production in North America, we believe the timing of our development of our demonstration plant at St-Bruno, Quebec is right and Geomega is looking forward to being part of the global circular economy for rare earths.” Added Mr. Mugerman.Rare Earth Magnets According to industry estimates, permanent magnets are a $21 billion-a-year (US dollars) global market split between high performance magnets (70%) and lower performance ferrite magnets (30%) used in applications such as chargers for electrical devices and other applications where weight and performance are less important and operating conditions are less extreme.At $13.8 billion, rare earth magnets dominate the high-performance magnet market, replacing aluminum-nickel-cobalt and samarium-cobalt technologies. Industry sources project the global rare earth magnet market will expand by nearly 100% to $27.0 billion in 2027.In 2019, the U.S. purchased approximately 12,000 metric tonnes of rare earth magnets at an average price of approximately $71,000 per tonne, according to industry estimates, representing 6% of the global rare earth magnet market. Note that this does not include magnets in finished and semi-finished products that are imported – since the U.S. was approximately 23.6% of global GDP in 2019, total imports of magnets could be at least four times the magnet-only numbers.If the U.S. merely maintains its current 6% share of the global market, annual purchases of rare earth magnets could increase by more than 7,000 tonnes by 2027, or an annual increase of more than 900 tonnes per year.About Geomega (www.geomega.ca) Based in Boucherville and St-Bruno, Quebec, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE), specifically Nd, Pr, Tb and Dy.The Corporation is advancing towards initial production from its demonstration plant to supply HHREE’s to North America and other parts of the world.Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.For further information, please contact:Kiril Mugerman President and CEO Geomega 450-641-5119 ext.5653 kmugerman@geomega.ca Nancy Thompson Vorticom Public Relations 212.532.2208 nancyt@vorticom.com Cautions Regarding Forward-Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2019, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.