Geomega to Recycle Rare Earths from USA Rare Earth’s Anticipated Neo Magnet Production in the United States - Seite 3

At $13.8 billion, neo magnets dominate the high-performance magnet market, replacing aluminum-nickel-cobalt and samarium-cobalt technologies. Industry sources project the global neo magnet market will expand by nearly 100% to $27.0 billion in 2027.

In 2019, the U.S. purchased approximately 12,000 metric tonnes of neo magnets at an average price of approximately $71,000 per tonne, according to industry estimates, representing 6% of the global rare earth magnet market. Note that this does not include magnets in finished and semi-finished products that are imported – since the U.S. was approximately 23.6% of global GDP in 2019, total imports of magnets could be at least four times the magnet-only numbers.

If the U.S. merely maintains its current 6% share of the global market, annual purchases of rare earth magnets will increase by more than 7,000 tonnes by 2027, or an annual increase of more than 900 tonnes per year.

About Geomega (www.geomega.ca)
Based in Boucherville and St-Bruno, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE – specifically Nd, Pr, Tb, Dy).

The Corporation is advancing towards initial production from its demonstration plant to supply HHREE’s to North America and other parts of the world.

Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.

About USA Rare Earth, LLC
USA Rare Earth, LLC has an option to earn and acquire an 80% interest in, and is the operator of, the Round Top Heavy Rare Earth and Critical Minerals Project located in Hudspeth County, West Texas from Texas Mineral Resources Corp. (TMRC: OTCQB). Round Top hosts a wide range of critical heavy rare earth elements, high-tech metals, including lithium, uranium and beryllium, and, based on the Preliminary Economic Assessment (dated August 16, 2019) projects a pre-tax net present value using a 10% discount rate of $1.56 billion based on a 20-year mine plan that is only 13% of the identified measured, indicated and inferred resources. The PEA estimates an internal rate of return of 70% and average annual net revenues of $395 million a year after average royalties of $26 million a year payable to the State of Texas. Based on the cost estimates set forth in the PEA, Round Top would be one of the lowest-cost rare earth producers, and one of the lowest cost lithium producers in the world.