MONTREAL, June 04, 2025 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX.V: GMA) is pleased to provide an update on the construction of the rare earth magnet recycling plant in Saint-Hubert, Quebec.
Since the last update in October 2024 (see press release), significant progress has been achieved in all of the main activities including procurement, equipment installation and electrical work.
Procurement of the long lead items is now complete and the majority of equipment has now been delivered as well. Two main reactors are undergoing final modifications and inspections and are expected to be shipped in June while the kiln and the packaging station were shipped end of May. The conveyors design is being finalized with the vendors and an order is expected to be placed in June.
The engineering team is working on plant instrumentation and valves which are all expected to be ordered over the coming months. An external contractor is working with Geomega’s team on the control and automation system which will then be integrated into the plant. The start up and commissioning procedures are being prepared in parallel as well. Piping design, build and installation will be started towards the end of the summer when all the equipment is received.
All the process equipment that has been received has already been assembled, placed in position and are being leveled and anchored in place. The electrical cables installation is ongoing while the electrical inlet to receive the increased power supply from Hydro Quebec has already been completed. The powering up of the new supply line is expected imminently and depends on the availability of the Hydro Quebec crews. All the utility units have been received with installation planned in the upcoming months. The chiller unit requires some repairs and modifications which are expected to take place during the same period as well.
Environmental permitting request has been submitted and the file is currently being reviewed. Based on the current schedule of equipment arrival and the remaining steps, plant construction should be completed towards the end of 2025. Testwork is expected to begin on the various sections of the plant based on the approval from the environmental permitting authorities.
“It’s been another exciting six months for the rare earths recycling demonstration plant. Seeing it finally coming together after countless hours of engineering work is very rewarding for the entire team. As the remaining major items arrive and installation advances over the coming months, the engineering and the operations teams are gearing up for the start up and commissioning phases and ultimately first production of recycled rare earth oxides in Quebec, Canada.” commented Kiril Mugerman, President & CEO of Geomega.
Figure 1: View of the rare earth recycling demonstration plant assembly
Rare Earth Industry Association (REIA) Conference and demonstration plant site visit
Geomega will be participating at the 2025 REIA Annual Conference that takes place from June 17 to 19 in Montreal, Quebec. As part of the event, Geomega will be hosting a site visit to the demonstration plant in Saint-Hubert, Quebec. For more information about the conference and to register for the site visit, please visit the event website at the following link: 2025 REIA Annual Conference.
About Geomega (www.geomega.ca)
Geomega develops innovative technologies for extraction and separation of rare earth elements and other critical metals essential for a sustainable future. Geomega works with various feed streams to apply its technologies to waste valorization. This includes NdFeB magnet recycling, bauxite residue and sulphide tailings processing. Geomega’s strategy revolves around gradually de-risking its innovative technology and delivering cashflow and return value to shareholders while working directly with the main players in their respective industries.
As its technologies are demonstrated on larger scales, Geomega is committed to work with major partners to help extract value from mining feeds, tailings and other industrial residues which contain rare earths and other critical metals. Irrespective of the metal or the source, Geomega adopts a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases emissions through recycling the major reagents in the process.
Geomega also owns the Montviel rare earth carbonatite deposit, the largest 43-101 bastnaesite resource estimate in North America and holds over 16.8M shares, representing approximately 13% of the issued and outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is exploring for copper projects in Quebec, Canada.
For further information, please contact:
| Kiril Mugerman |
| President and CEO |
| Geomega |
| 514-223-1449 ext. 3 |
| This email address is being protected from spambots. You need JavaScript enabled to view it. Nancy Thompson Vorticom Public Relations 212-532-2208 This email address is being protected from spambots. You need JavaScript enabled to view it. Twitter: @Geomega_REE |
Cautions Regarding Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2024, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
