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Neo Performance Materials Signs Memorandum of Understanding with Rainbow Rare Earths

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Neo Performance Materials (NEO.TO) has signed a memorandum of understanding with Rainbow Rare Earths Limited on the Phalaborwa rare earth project in South Africa, the company said Thursday.

The MOU covers technical support for and offtake from the project, where Rainbow plans to recover rare earth elements from legacy phosphogypsum residue, a by-product of fertilizer production.

Rainbow would provide Neo with offtake rights to 40% of the project's annual production of separated NdPr oxide and 65% of its annual mixed samarium-europium-gadolinium and heavy rare earth carbonate.

Meanwhile, Neo will provide Rainbow with design input and technical support for the final solvent extraction separation circuit to achieve the project's intended product mix and purity.

Following technical due diligence, Neo has determined that the project is a promising secondary source of magnetic rare earths, adding a new supply source to its raw material supply chain.

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Mining & Metals

Kinross Gold Lowers 2026, 2027 Gold Production Outlook

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$K.TO
Mining & Metals

OceanaGold's Chief Executive Officer Gerard Bond to Retire in April

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Mining & Metals

SonicStrategy Acquires 500,000 SYN Tokens

SonicStrategy (SONI.CN) said Wednesday it acquired 500,000 SYN tokens through open-market purchases for about $115,000.The digital asset infrastructure company said it paid an average price of about $0.23 per token. The acquisition represents its first treasury investment focused on on-chain derivatives.SYN is a digital asset that is associated with the Synapse ecosystem. Synapse Labs is developing Hypercall, a decentralized options protocol designed to operate within the Hyperliquid ecosystem.The company also announced that Spencer MacLean has resigned from the board of directors, effective immediately.SonicStrategy shares closed down CA$0.025 at CA$0.13 on the Canadian Securities Exchange.

$SONI.CN