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medallion resources ltd (MDL) Snapshot

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09/20/13 - C$0.43
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06/24/14 - C$0.11
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medallion resources ltd (MDL) Details

Medallion Resources Ltd., a junior resource company, engages in the acquisition, exploration, and evaluation of mineral properties. It evaluates the potential of rare earths, primarily mineral sand-based monazite deposits in the Indian Ocean basin. The company has an option to acquire 100% interest in the Red Wine heavy-rare-earth elements project, which consists of 7 mineral licenses covering an area of 46.5 square kilometers in the northeast of Churchill Falls in Labrador, Canada. Medallion Resources Ltd. was incorporated in 1989 and is based in Vancouver, Canada.

Founded in 1989

medallion resources ltd (MDL) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: --
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

medallion resources ltd (MDL) Key Developments

Medallion Resources Ltd. Appoints David Shaw to Board of Directors

Medallion Resources Ltd. announced that it has appointed David Shaw, PhD to the company's Board of Directors. Most recently, David was Chairman of Salares Lithium Inc. David remained as an independent director through Talison's acquisition by Chengdu Tianqi Group for $848 Million in February 2013. Currently, David Shaw is an independent director of First Majestic Silver Corp., Great Quest Metals Ltd., and President of Albion Petroleum Ltd. Shaw's appointment to Medallion's Board of Directors brings the total number of directors to six.

Medallion Resources Ltd. Auditor Raises 'Going Concern' Doubt

Medallion Resources Ltd. filed its Annual on Jul 07, 2014 for the period ending Mar 31, 2014. In this report its auditor, Lancaster & David, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Medallion Resources Ltd Extends Deal with Takamul Investment Co for Duqm Rare-Earth Project

Medallion Resources Ltd. has extended deal with Takamul Investment Co for Duqm rare-earth project. Medallion Resources Ltd. signed a memorandum of understanding (MoU) with Takamul Investment Co earlier this 2013 to conduct studies into the viability of constructing and operating a monazite-based rare-earth extraction facility in Duqm, announced that it has completed a six-month extension of the existing MoUs with Takamul and Jordan-based Arab Mining Co. The original MoUs commit the partners to investigating the viability of financing, constructing and operating a monazite-based, rare-earth production project in Duqm. Under Medallion's MoU with Takamul, which is a subsidiary of Oman Oil Co, the parties agreed, subject to acceptance of an independent project validation provided by co-funded financial, technical and environmental assessment studies, and definitive documentation, to establish a joint venture to produce rare earths allocating a 60% interest to Medallion and a 40% interest to Takamul. Each party will provide project funding proportional to its interest. With respect to Medallion's MoU with Arab Mining, the parties have agreed to exclusively negotiate Arab Mining's investment or participation in a joint venture, (controlled and majority-owned by Medallion), which will focus on rare-earth production and processing opportunities within the Arab League nations, including the proposed Duqm facility. Medallion said that it is helping to re-establish monazite as a significant economic mineral and major source of rare earths. It is in advanced negotiations with a number of major heavy-mineral-sand producers to purchase by-product monazite. With the advancement of the Oman rare-earth production project, Medallion said it looks to meet the producers' business requirements for long-term contracts from a reliable purchaser that will safely process the monazite in well-regarded jurisdictions, such as the Arab Gulf states.


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