Ticker Symbol: C:MDL
Medallion Resources Ltd (C:MDL)
Shares Issued 44,749,435
Last Close 11/8/2011 $0.155
Wednesday November 09 2011 – In the News
Brien Lundin, in the October, 2011, edition of the Gold Newsletter, says buy Medallion Resources Ltd., recently 16 cents. This is the first time he has recommended the stock. Medallion has cancelled its option for the Eden Lake rare earth project in Manitoba. It will continue to work on rare earth projects, including its joint ventures with Rare Element Resources, but it plans to focus its future acquisitions and JV projects on monazite. Monazite is a phosphate mineral, which contains rare earth metals. It is a byproduct in heavy mineral sands operations. Mineral sands processors usually ignore the monazite, and only extract titanium and zirconium from the mineral sands. Mr. Lundin says monazite deals could help Medallion respond to the rising demand for rare earth metals, particularly as used in hybrid cars. He notes the company’s market cap is less than $10-million, and it has only 44.6 million shares outstanding; the share price could rise suddenly, once the company finds JV partners and monazite projects. Medallion’s chairman, Dr. Bill Bird, says “agreements are imminent.” The newsletter editor says now is a good time to buy. He has confidence in Dr. Bird, who is one of Rare Element’s founders.