Geomega obtains federal funding for R&D facility

Executive Summary

• Geomega Resources Inc. has secured a $750,000 interest-free, repayable contribution from Canada Economic Development for Quebec Regions (CED) to fund the development of new integrated R&D and piloting facilities at its Saint-Hubert site.
• The funding supports the acquisition of specialized laboratory equipment and the construction of a new multilevel piloting infrastructure, aiming to consolidate operations and accelerate the scale-up of rare-earth magnet recycling and bauxite residue valorization technologies.
• The project involves creating approximately 2,000 square feet of new hydrometallurgical laboratories and over 3,500 square feet of piloting space, representing a tenfold increase in piloting capacity, with project completion expected by September 30, 2026.

Key Details

• Funding Amount: $750,000 CAD.
• Funding Source: Canada Economic Development for Quebec Regions (CED) via the Regional Economic Growth through Innovation (REGI) program.
• Terms: Interest-free, repayable contribution.
• Repayment Schedule: 60 equal monthly instalments, beginning 36 months after the project completion date.
• Project Completion Date: Expected no later than September 30, 2026.
• Facility Location: Saint-Hubert site (where the rare-earth magnet recycling demonstration plant is currently being built).
• Laboratory Expansion:
  • Four new hydrometallurgical laboratories totaling approximately 2,000 square feet.
  • Includes a state-of-the-art analytical laboratory supporting internal R&D and the demonstration plant.
  • Dedicated spaces for extraction, separation, and refining testwork.
• Piloting Expansion:
  • New double-level piloting area exceeding 3,500 square feet.
  • Represents a more than tenfold increase relative to current piloting capacity.
  • Enables parallel piloting campaigns and supports increased client projects, particularly in bauxite residue valorization.
• Operational Goals:
  • Consolidate laboratories, piloting operations, engineering teams, and administrative offices into a single facility.
  • Shorten development cycles and accelerate scale-up/commercialization roadmaps.
  • Improve coordination between R&D and engineering.
• Company Context: Geomega develops technologies for rare-earth element extraction, NdFeB magnet recycling, bauxite residue valorization, and sulphide tailings processing. It owns the Montviel rare-earth carbonatite deposit and holds shares in Kintavar Exploration Inc.

Notable Quotes

• Hon. Melanie Joly, Minister of Industry and Minister responsible for CED: "This strategic investment aligns with the reality of a thriving global market and will give Geomega the tools it needs to move Canada's critical metals ecosystem forward in Quebec. This project will have tangible economic spin-offs for Quebec's workers and industry."
• Kiril Mugerman, President and CEO: "We are entering a new phase of growth... With this new facility, we are creating the dedicated infrastructure we need to accelerate development, increase capacity and bring more technology to market faster."