RE:Big news about Montviel https://ceo.ca/@nasdaq/geomega-to-advance-hydrometallurgy-at-its-montviel
“The Montviel project is one of the most promising rare earth projects in North America. It’s got the size and the infrastructure required for an economic project however, we wanted to confirm that the project would have robust full cycle economics in all commodity price environments. As our technology has continued to evolve and improve over the last 7 years, we are now in a position to be able to start applying our technology and IP developments to the Montviel flow sheet. Our main goal is to deliver an economically and environmentally robust rare earths project in the province of Quebec that can sustain the price swings that we have seen over the last 10+ years in the rare earths market. We believe that the proposed hydrometallurgical improvements will make Montviel a rare earths project that could operate profitably even at the lowest REE prices that we saw as recently as 2019, and on the contrary, make it an extremely profitable and valuable project at the current REE prices, which have seen an increase of 300% in the last 24 months.” commented Kiril Mugerman, President & CEO of Geomega
“The PEA that will follow once this hydrometallurgical test work is completed successfully, should confirm our technological advancements and their economical benefits and set the stage for the next steps in Montviel rare earth project development.” continued Mugerman. “The potential enhanced economics from the metallurgical improvements at Montviel coupled with a much stronger and sustainable demand for neodymium and praseodymium, which together account for 21% of the Total REO at the deposit, position Geomega well for a potentially robust economic proposition at Montviel going forward. Furthermore, being able to leverage revenues from the rare earth magnets recycling plant in St-Bruno and our technical expertise will help avoid unnecessary dilution for our shareholders.”