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Geomega Resources ( (TSE:GMA) ) has issued an announcement.
Geomega Resources Inc. has successfully closed a $2 million convertible debenture financing to support the construction of a rare earth magnet recycling demonstration plant and the development of new laboratories in its Saint-Hubert facility. This financing, led by prominent investors, is part of Geomega’s strategy to advance its sustainable technologies for waste valorization and the production of critical metals, positioning the company to better serve its stakeholders and the broader market.
More about Geomega Resources
Geomega Resources Inc. is a company that develops innovative technologies for the extraction and separation of rare earth elements and other critical metals, which are essential for sustainable technologies such as renewable energies, vehicle electrification, and automation. The company focuses on recycling rare earth magnets, or neo-magnets, which are central to these technologies, and aims to de-risk its technology while delivering value to shareholders.
YTD Price Performance: -5.56%
Average Trading Volume: 51,917
Technical Sentiment Signal: Buy
Current Market Cap: C$12.19M
For an in-depth examination of GMA stock, go to TipRanks’ Stock Analysis page.