Provides update on magnet and bauxite recycling pilot plants, and nominates supply chain expert to serve on board.

Coming into the final months of 2023, Geomega Resources Inc., a leading developer of clean technologies for the mining, refining, and recycling of rare earths and other critical materials, has released an update for its various operations and construction of the plants that will help fuel the low-carbon future.

After announcing at the end of May regarding the centralization of all its operations, Geomega says it has made significant progress toward finalizing the necessary development plans for this 18,000-square-foot facility that aims for a throughput capacity of 1.5 tons per day of feed material.

"It has been a very busy summer since the announcement of our new location in St Hubert," said Geomega Resources President and CEO Kiril Mugerman. "The R&D team has been extremely occupied advancing all our projects."

The most advanced of its projects is a magnet recycling demonstration plant that the company says is on track to begin construction at Saint-Hubert before the year is out.

"Our two most advanced projects are marching forward, and we expect to see more news from both projects before the end of the year," added Mugerman. "The demonstration plant engineering activities are very advanced now with more and more disciplines being involved every week. Activity on the ground will be picking up throughout Q4 and we will be providing updates to shareholders as various milestones are reached and new activities begin."

With consulting firm BBA restarting engineering activities in May, Geomega says the work primarily focused on process and layout adjustments for the new facility. As of now, the updated plant 3D layout is at roughly 50% completion.

Like any office yet to be moved in, procurement activities have been ongoing since July, and several main equipment items have been ordered in the last few months, the company added. As some equipment had to be adjusted to the new layout, these will be ordered in the coming months as soon as final quotes and designs are approved.

In parallel, the company performed factory acceptance tests on three major pieces of equipment. With a team abroad for about two weeks this month to perform these tests and obtain the necessary training for assembly and operation, proceedings are running smoothly.

In addition to the procurement, Geomega is still undergoing necessary permitting. Aside from a baseline environmental study at the St Hubert facility, including the installation of three monitoring water wells around the site, the company still has various municipal permits required before construction can officially begin, as well as testing of process modeling before a final submission to Canada's Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks.

It reports these permit requests will be filed in later stages, with initial filing in the coming weeks.

A hazard and operability study report was also received, with results being implemented into the project design.

Bauxite plant, new board member

The second most advanced project for Geomega is its bauxite residue valorization process, something that major aluminum producers have shown keen interest in – such as Rio Tinto, who has invested roughly C$1.2 million into this future project.

"As for the BR pilot plant, commissioning was a very important milestone for us this year," added the Geomega CEO. "We are now looking forward to start the testwork which is crucial in demonstrating the scalability of our technology."

The company says that commissioning of the pilot plant has been ongoing since August. Much like the magnet recycling plant, additional equipment has either been received or is still on order.

However, pilot test work will be able to begin as soon as the commissioning is finished.

"Successful results will be a major achievement for our team and a significant breakthrough for the aluminum industry that needs such a solution to deal with bauxite residues globally," said Mugerman.

In addition to project updates, Geomega has presented Karine Emond as a new nominee to the board of directors.

A seasoned commercial lawyer specializing in manufacturing and supply chain, Emond has 20 years of legal experience and has long developed an expert skillset in commercial negotiation with major international companies.

Geomega believes she is well-qualified to implement risk management strategies with confidence and to recommend creative and pragmatic solutions as the company continues to expand into a major North American energy material supplier.

"I'm very proud to be nominated to Geomega's board of directors as a long-term investor and a strong believer in the company," said Emond. "As someone who is motivated by positive change in society, joining Geomega was a natural fit for me to contribute to value creation and the deployment of the next critical steps for Geomega. As a new member of the board, I wish to support the management team with my legal expertise and negotiation skills to assist Geomega reaching its next milestones, which will ultimately benefit future generations."