RE:RE:News must beVentureGuy24 wrote: I can confirm Bob's statements. I talked with Geomega management and news should be out any day now. My last communication with the company was 3 weeks ago. I was told that they were expecting the conclusion of the energy balance and metallurgical tests which were expected shortly (2-3 weeks). These studies will give Geomega the required information to determine the operating costs for the resource update. This is high level report with unique details that a typical resource update would not need but the company wants to make sure everyhting is done correctly so majors do not question the findings/evidence. Following the results of these developments the resource estimate will be released. Funny enough, in prior discussions I was told the resource update would not come in as a seperate news release and would just be included in the PEA study news release. The company must have changed their minds as they plan to disclose the resource update seperately which is a good idea as it gives investors/shareholders more updates to look forward to. The PEA study will come in the new year at some point, no date was given to me as they feel enough failed expectations have hurt Geomega. I think they are finally learning from past mistakes which is a huge positive for the comapny, and hopefully repair their reputation within the investing community. I am very optimistic for our future in the short and medium term.
In terms of the Speration technology, the next step in the process is to begin processing Montviel ore concentrate from the PEA. In connection to financing the prototype they can not comment on this development but in earlier discussions I was told 10 million to get this machine up and running. I believe IMO they are in discussions with the government for financing. I was also told we should expect updates on the patent approvals and recycling opportunity in the new year or earlier if possible.
Lastly and most importantly, I was told Geomega will not sell their assets in these trouble market conditions as these are the moments when M&A activity is very active as majors wish to obtain projects on the cheap for their future production outputs. Geomega will not sell their projects for cheap as they want intrinsic value for the assets. The Montviel project will command a pretty price tag as the monetary value attached to this mine is great I believe if we decide to sell and not mine it ourselves and become a low-cost REE producer. The company will look and review many options in terms of accumulating maximum shareholder value. I was told that partnerships and joint ventures within the REE industry do not form "officially" until a company that operates that project brings it to the PEA-PFS stage of development. Majors want to see the economic viability and engineering of the project before announcing an interest or stake in the potential mine. Even end users that form offtake agreements that buy portions/percentage of the REEs from the mine for their products in development want to buy a purified raw material and this is why seperation needs to be achieved for 99<% purity. 2015 could be a fun year to be invested in Geomega. With these extreme low prices, and undervalued shareprice we should be profitable in the new year.
Good luck all
I asked some very relevant questions but it was explained some information has not been made public so no great detail was given but I feel something is cooking behind the scenes as we progress our seperation technology. Once optimization studies conclude
Excellent post. Thanks for the update Ventureguy. Like I have sad in the last few posts. Kiril had mentioned to be recently that the "Prototype" could be funded by Geomega event at current market conditions (if need be). The cost is not near as high as some had stated here. Guess we'll find out soon enough. Also that there were "interested groups" and the people they are in discussions with arenow protected by NDA's.
This thing is a steal at this price. Fill your boots while you can and Joe toss away that helmet.....not needed. T