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Geomega and Rio Tinto Sign a Joint Development Agreement and Demo License on Bauxite Residue Valorization Technology
Newsfile· 2025-10-08 13:27
Core Insights - Geomega Resources Inc. has signed a Joint Development Agreement (JDA) with Rio Tinto for the Bauxite Residue Valorization Technology, which includes a demonstration license for Circuit 1 and 2 [1][2] - The agreement could lead to a demonstration plant in Saguenay, Quebec, with potential payments totaling up to $4,500,000 [2][3] - The technology aims to enhance the environmental footprint of alumina refining by reducing bauxite residue storage and extracting critical minerals [3][4] Financial Aspects - Geomega anticipates receiving $1,400,000 in 2025, $100,000 in early 2026, and up to $3,000,000 in additional payments if the demonstration plant is constructed, totaling a potential of $4,500,000 [2] Technological Impact - The Bauxite Residue Valorization Technology could allow for the extraction of direct reduced iron (DRI) grade ore and critical minerals such as rare earth elements and titanium concentrates [3][4] - Geomega will provide engineering support and conduct tests to demonstrate the technology's flexibility and robustness using various bauxite residue feeds from Rio Tinto's global operations [3][4] Strategic Importance - The partnership with Rio Tinto highlights the increasing demand for sustainable solutions in managing industrial and mining residues, contributing to a reliable local supply chain for critical minerals [4][5] - The collaboration is seen as a significant step towards commercial licensing of Geomega's technology and positions Quebec and Canada as potential leaders in sustainable technology development [5][6] Industry Context - The agreement is part of ongoing efforts to reduce the environmental impact of alumina refining, addressing challenges faced by the global aluminum industry [6][8] - Geomega's strategy includes working with major partners to extract value from mining feeds and industrial residues, focusing on reducing environmental impacts and greenhouse gas emissions [10]
XXIX Closes Its Acquisition of 19.9% of Kintavar Exploration
Newsfile· 2025-09-16 10:00
Core Viewpoint - XXIX Metal Corp. has successfully completed the acquisition of a 19.9% stake in Kintavar Exploration Inc. through the sale of the Roger Project for $2,137,500, positioning itself to benefit from Kintavar's future developments in the Chibougamau mining district [1][2][7]. Company Overview - XXIX Metal Corp. now holds 42,750,000 shares in Kintavar, representing approximately 19.97% of the issued shares, without incurring any dilution [6][19]. - The company aims to monetize its Kintavar shares opportunistically, similar to its previous successful strategy with Baselode Energy, which raised $7.85 million [6][7]. Kintavar Exploration Inc. - Kintavar, now fully owning the Roger Project, is focusing on developing the asset with a new strategy under the leadership of Peter Cashin, supported by $3.8 million in cash and investments [2][3]. - The Roger Project has a historical mineral resource estimate indicating an indicated resource of 10.9 million tonnes at 0.85 g/t gold, 0.80 g/t silver, and 0.06% copper, and an inferred resource of 6.569 million tonnes at 0.75 g/t gold, 1.18 g/t silver, and 0.11% copper [3][4]. Future Plans and Projects - Kintavar is evaluating historical data from the Roger Project, which shows potential for volcanic-hosted massive Cu-Zn-Au-Ag sulphide deposits [4]. - Kintavar has a portfolio of 17 projects across Quebec, including the Mitchi Project with a measured and indicated resource of 2.99 million tonnes at 0.4% copper and 4 g/t silver [5]. - XXIX is planning a 5,000-metre drill program at the former Cooke gold mine area and a 15,000-metre drill program at the K1 deposit at Thierry, aimed at expanding the resource base [9][10]. Upcoming Catalysts - XXIX is set to complete its maiden Preliminary Economic Assessment (PEA) on the Opemiska Project in October 2025, focusing on maximizing project value [8].
Orecap Closes its Acquisition of 19.9% of Kintavar Exploration
Newsfile· 2025-09-16 10:00
Strategic Investment: Orecap acquires 19.9% of Kintavar, reallocating assets into a well-financed explorer with $4.2M in cash and receivables.Strong Shareholder Alignment: Orecap and XXIX become cornerstone investors, jointly holding 39.9% of Kintavar.High-Potential Asset: Kintavar refocuses on advancing the 100%-owned Roger Project, a Chibougamau gold-copper deposit with a historical indicated resource of 10.9Mt at 0.85 g/t gold, 0.80 g/t silver and 0.06% copper (333,000 ounces of gold equivalent), and a ...
Kintavar Closes its Acquisition of Roger Copper-Gold Project in Chibougamau, Quebec; Appoints New Management and Board
Newsfile· 2025-09-16 10:00
Kintavar Closes its Acquisition of Roger Copper-Gold Project in Chibougamau, Quebec; Appoints New Management and BoardSeptember 16, 2025 6:00 AM EDT | Source: Kintavar Exploration Inc.Highlights:Kintavar to refocus its strategy around newly acquired Roger Copper-Gold Project.New CEO Peter Cashin has direct experience at Roger. Reenvisioning Roger's existing intrusive model to a newly Cu-Zn-Au-Ag VMS interpretation backed by evidence.Planned in-hole geophysics on historical drillholes targeting ...
Geomega Resources Inc. Provides Corporate Update
Newsfile· 2025-09-11 11:30
Corporate Update - Geomega Resources Inc. will hold its Annual General and Special Meeting (AGM) on October 22, 2025, at 10:00 a.m. (Eastern Time) in Montreal, Quebec, where shareholders can attend in person or via video conference [1][2][6] Change in Directors - Geneviève Ayotte, CPA, has been nominated to the Board of Directors and will also serve as Chair of the Audit Committee, bringing over 14 years of experience in finance and auditing, particularly in the mining sector [3][4] - Gilles Gingras, the current Director and Chair of the Audit Committee, will retire after 12 years of service, with the company expressing gratitude for his contributions [4] Financial Instruments - Since the beginning of the fiscal year on June 1, 2025, Geomega has raised over $735,060 through the exercise of various financial instruments, resulting in the issuance of 5,354,667 common shares [5][6] Upcoming Conferences - Geomega's management will present at several upcoming conferences, including ICSOBA 2025 and IFCURM 2025 in Nanning, China, and TMS 2026 in San Diego, California, focusing on sustainable valorization of bauxite residues and other technologies [7][8] Technology and Projects - The company is advancing its construction of a rare earths recycling demonstration plant and its R&D program for bauxite residues valorization, aiming for a licensing business model [8][10] - Geomega owns the Montviel rare earth carbonatite deposit, which is the largest 43-101 bastnaesite resource estimate in North America [12]