Geomega Hits on Rare Earth Recycling Spot

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, January 14, 2020

Taking items from Mother Earth involves a lot of work, especially in making sure the enterprise is a responsible one to said Mother Earth.

Montreal-based Geomega Resources Inc. (TSX-Venture:GMA) is making its bid for recognition on that score, having selected an industrial site in neighboring Saint-Bruno-de-Montarville as the location for its rare earth magnets (REM) recycling demonstration plant using its proprietary ISR technology and signed a long term lease.

CEO Kiril Mugerman says, “With the joint action plan on critical minerals collaboration that was signed between United States and Canada (last week), we are starting to see the first concrete steps by both countries in securing supply chains for the critical minerals needed for important manufacturing sectors, including communication technology, aerospace and defence, and clean technology.

“We envision that our demonstration plant in St-Bruno can become the centre of Quebec’s rare earths hub that would bring these critical materials back to North America.”

GMA shares took on a penny, or 6.1%, to 17.5 cents, on volume of 175,000 shares.

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