Geomega Resources Inc. (TSXV:GMA) announced the final closing of a brokered private placement with Industrial Alliance Securities Inc. acting as agent consisting of 1,796,000 units at a subscription price of $0.60 per unit for gross proceeds of $1,077,600. The total gross proceeds are $3,315,000 including the first tranche of the private placement.
Rare Earth Company News Directory
Quest Rare Minerals Ltd. (TSX:QRM,NYSEMKT:QRM) released a preliminary economic assessment (PEA) based on a revised development plan for its Strange Lake rare earth project.
Orbite Aluminae Inc. (TSX:ORT,OTCQX:EORBF), a cleantech company currently commercializing its high-purity alumina process, released a general update on previously announced financing activities.
Great Western Minerals Group Ltd. (TSXV:GWG,OTCQX:GWMGF) announced that it has entered into a non-binding memorandum of understanding (MOU) for rare earths separation services with "an internationally recognized provider."
Tasman Metals Ltd. (TSXV:TSM,NYSEMKT:TAS) announced that it has started a prefeasibility study for its Sweden-based Norra Karr heavy rare earths project.
Reuters reported that Kazatomprom, Kazakhstan's state-owned uranium producer, aims to produce rare earths and may look into buying deposits abroad. Spurring its interest are higher prices for the metals.
Lynas Corporation Ltd. (ASX:LYC) announced that in the March quarter of this year it hit a production record of 1,089 tonnes of rare earth oxide; that means the company is on track to reach a run rate of 11,000 tonnes per year during the upcoming quarter.
Mining Weekly reported that yesterday, shares of Lynas Corporation Ltd. (ASX:LYC) jumped 25 percent on the news that the company expects its Lynas Advanced Materials Plant (LAMP) to hit production and sales volume records in both March and the first quarter of this year.
Greenland Minerals and Energy Ltd. (ASX:GGG) announced yesterday that it has signed a non-binding memorandum of understanding (MOU) with China Non-Ferrous Metal Industry's Foreign Engineering and Construction Company Ltd. (NFC) (SZSE:000758).
Great Western Minerals Group Ltd. (TSXV:GWG,OTCQX:GWMGF) announced its results for the fourth quarter of 2013 as well as for 2013 as a whole, commenting that for the full year, its revenue rose 10.8 percent, to $17.4 million.