Opinions
Robert McWhirter
Geomega Resources Inc
GMA-X
COMMENT
Feb 07, 2020
Their specialty is getting rare earths in the after market. A 20 year old wind turbine has surplus rare earths (magnetic material), for example. They gather the left over material. They are building a plant in Quebec with interest for off take going to Europe. China is a strategic suppliers, so buyers are looking to diversify supply.
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The interesting part of the business is that a wind turbine has a 15 year life, and there are rare earth metals that can be recycled after. The company is working on a new plant that will be running before June 2020. If they have enough volume for a second line, the profitability will rise. There is quite a big potential.
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