What is going on with MLLOF?
Medallion resources (MLLOF) stock surged today after the company announced the successful separation and purification of the magnetic rare-earth elements (REE), neodymium (Nd), and praseodymium (Pr) from US-sourced mineral sand monazite.
The separation was achieved using the LAD Chromatography process, a method which extracts REEs directly into a pregnant leach solution (PLS). The target REEs (Nd and Pr) were then extracted directly from the solution, a process that differs from progressive group separation, which requires additional purification of the solution. Shares of MLLOF increased 25% to $0.312 as of Wednesday at 11:38am.
What does this mean for Medallion Resources?
Medallion's announcement marks a significant milestone for the company and highlights the opportunity created by its recent exclusive licensing of the Ligand Assisted Displacement (LAD) Chromatography method. The new technology could change the way certain REEs are extracted, and will provide Medallion with lucrative deals should they decide to further license the technology to other third parties.
“Research and development is generally a slow and progressive process. It is not often we get to witness firsthand the fast pace of an emerging disruptive technology,” said Mark Saxon, CEO and President. “It is less than 2 months since we started working with the LAD process at Purdue and already high-purity Nd and Pr carbonates have been separated from a monazite-sourced leach solution. By keeping the REE in solution from end to end, our cost, environmental footprint and recovery efficiency can all be optimized.”
The LAD Chromatography method was developed by Linda Wang, PhD, the Purdue Maxine Spencer Nichols Professor of Chemical Engineering at Purdue University. Her team's stated goal was to create "an environmentally sound technique for REE separation."
MLLOF has a Long-Term Technical Rank of 39. Find out what this means to you and get the rest of the rankings on MLLOF!
Medallion Resources Ltd is a Canada-based company, which is involved in the acquisition and evaluation of mineral resource projects. The company's business activities include acquiring mineral properties, evaluating the merits of these properties using various techniques such as sampling, trenching and geophysical and geochemical methods as well as drilling. It focuses on a rare-earth business strategy involving the mineral monazite, which is available as a by-product mineral from heavy-mineral-sands mining operations.
