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Published on Mar 6, 2015
NOTE: At 1:54 in this video, "50 million plants" is meant to be "50 MRT plants."
It was a big news week for Ucore Rare Metals (TSXV:UCU). On Monday, the company announced that it had successfully separated each of the rare earth elements from a pregnant leach solution derived from feedstock from its Bokan Dotson-Ridge project, and the next day, it secured exclusive rights to the Molecular Recognition Technology (MRT) that brought that success from IBC Advanced Technologies for $2.9 million.
Resource Investing News spoke with Ucore COO, Ken Collison, at the Prospectors and Developers Association of Canada (PDAC) conference in Toronto to get more insight into the news.
According to Collison, IBC has been using its MRT technology for roughly 20 years, and has 40 to 50 plants MRT plants (note: Collison means to say "MRT" not "million" in the video below) scattered around the world. However, it has not previously used the technology for rare earth elements. While Collison admitted he at first thought that rare earths being separated at 99 percent purity was "too good to be true," he said he was convinced once he saw the results. "It's going to revolutionize the rare earth business," he said. Collison also explains how the MRT process works, how it compares to traditional solvent extraction methods, and what the next steps will be moving forward with the process. He also speaks about recent drill results at Ucore's Bokan Dotson-Ridge project in Alaska and stated that Ucore expects to release its new resource estimate for the project this year. Finally, the COO gives his thoughts on where rare earths prices are headed this year.