Medallion Resources Corporate Update
28 Fevereiro 2014 - 9:00AM
Marketwired
Medallion Resources Corporate Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 28, 2014) -
Medallion Resources Ltd (TSX-VENTURE:MDL) (OTCQX:MLLOF)
("Medallion" or the "Company"), is focussed on re-establishing
monazite as a significant economic mineral and major source of rare
earths, and today provided an update.
Medallion's top operational focus at this time is to secure
monazite feed for its proposed Oman facility. Negotiations with a
number of heavy-mineral-sands producers and developers are going
well; although, securing these agreements has taken longer than
anticipated. The Company can confirm that sufficient quantities are
available, both as stockpiles and from ongoing production streams,
under reasonable terms for long-term agreements. Within the
heavy-mineral-sands business, there is a growing awareness that
monazite is an important economic source of rare earths and major
producers are seeking purchasers with viable business plans.
Producers seek a reliable purchaser to safely process monazite in a
well-regarded jurisdiction, such as the Middle East, and this
matches the Company's strategy.
Medallion continues its initial activities with both Arab Mining
Company and Takamul Investment Company, with whom Medallion has
established Memorandums of Understanding (MOUs) to investigate the
establishment and investment in a monazite-based rare-earth
processing facility in the industrial city of Duqm, Oman.
Medallion, on a non-exclusive basis, has also engaged an
individual for securing equity funding in the Arab Gulf States.
This will capitalize on the local media and business interests in
rare-earth production, which were brought about by Medallion's
initiatives and relationships in the region.
About Medallion Resources
Led by Dr Bill Bird and supported by an experienced technical
team, the Company focuses on low-cost, near-term, rare-earth
production opportunities using the rare-earth mineral monazite,
which is available as a by-product from existing mining and
mineral-sands sources principally in the Indian Ocean basin.
Medallion, partnered with Takamul Investment Company, is currently
evaluating a proposal to import monazite feedstock and produce
rare-earth products at a proposed processing facility in the
industrial city of Duqm, Oman. Rare earths are used in critical
components for virtually all computing and mobile electronic
products, as well as wind turbines, electric and hybrid vehicles,
and strategic defense systems. Medallion is committed to following
best practices and accepted international standards in all aspects
of mining, mineral processing and the safe management of waste
materials. More about Medallion (TSX-V: MDL; OTCQX: MLLOF;
Frankfurt: MRD) can be found at medallionresources.com.
Medallion management takes full responsibility for content
and has prepared this news release. Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. Some of the
statements contained in this release are forward-looking
statements, such as statements relating to completion of
transactions under the MOUs, completion of monazite feed
agreements, and estimates and statements that describe Medallion's
future exploration, production and financing plans, objectives or
goals, including words to the effect that Medallion or management
expects a stated condition or result to occur. Since
forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties,
including the risks inherent in completing complex business
arrangements in international jurisdictions and other risks
outlined in the Company's management discussions and analysis of
financial results. Actual results in each case could differ
materially from those currently anticipated in these statements.
Such risks include expectations that may be raised by discussing
potential business, acquisitions or development plans. Also, in
order to proceed with Medallion's plans, additional funding will be
necessary and, depending on market conditions, this funding may not
be forthcoming on a schedule or on terms that facilitate
Medallion's plans.
Medallion Resources Ltd.Donald
LayPresident+1.604.681.9558info@medallionresources.comHamza Thindal
Capital Corp.Kam Thindal+1.888.371.9098
Medallion Resources (TSXV:MDL)
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