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Canada
Geomega Resources
A TSX Venture-listed Quebec technology company whose subsidiary Innord is commissioning a demonstration plant in Saint-Hubert, Quebec, designed to process 1.5 t/day of NdFeB magnet scrap into rare earth oxides; it also licenses process technology for bauxite residue and holds the Montviel rare earth deposit.
Points to check
Facts from the sources on this page that a reader should weigh before relying on the company's own figures.
- Demonstration plant production was first targeted for 2020; as of September 2, 2026, commissioning of process equipment was expected to begin in November 2026.
- No offtake for rare earth oxides and no magnet scrap supply contract has been announced; the September 2026 update describes discussions only.
- The June 2026 environmental authorization covers demonstration operation and data collection through December 31, 2028; commercial operation would require a separate permit.
- Cash was C$2.4 million at February 28, 2026; in September 2026 the company took a C$1.35 million secured loan at 10.5% interest.
- The Montviel resource estimate dates from June 2015 and no preliminary economic assessment has been completed.
At a glance
- Founded
- 2008 — Incorporated in 2008 as a rare earth and niobium explorer (Montviel). Innord Inc., the technology subsidiary, became 100% owned in December 2019. The company now describes itself as developing extraction, separation and recovery technologies for industrial and end-of-life feedstocks.
- Headquarters
- Montreal area, Quebec, Canada (operations and demonstration plant in Saint-Hubert, Longueuil, Quebec)
- Ownership
- Public; TSX Venture Exchange: GMA, OTC: GOMRF. 161,725,344 shares in issue (February 2026, as reported by Kalkine). No major holders were identified in the filings reviewed.
- Stage
- Developing. A grant- and loan-funded demonstration plant (1.5 t/day magnet feed) in Saint-Hubert, Quebec, is nearing construction completion with commissioning expected from November 2026; no commercial plant or oxide offtake has been announced.
- Listing
- TSXV: GMA · OTC: GOMRF
Investor relations - Revenue
- C$1,478,000 license revenue (plus C$369,500 related technology royalties)
Reported, nine months ended Feb 28, 2026.
Source
Capacity
Each date below links to the document the figure came from. A capacity figure with no source is not on this page.
| What | Figure | Status | As of |
|---|---|---|---|
| NdFeB magnet feed, Saint-Hubert demonstration plant | 1.5 t/day of feed (design; continuous 24/7 operation after 2024 redesign) | Under construction | Apr 2026 |
| Annualized feed and rare earth oxide output, demonstration plant (company presentation) | about 500 t/yr magnet feed; about 150 t/yr REO (design) | Under construction | Jun 2026 |
| Demonstration plant feed, earlier design (St-Bruno-de-Montarville) | up to 1.5 t per 8-10 hour shift | Historical | Feb 2020 |
Narrative
Geomega Resources was incorporated in 2008 as a mineral explorer and holds the Montviel rare earth and niobium deposit near Lebel-sur-Quévillon, Quebec, where a June 2015 NI 43-101 estimate gave 82.4 million t Indicated at 1.51% TREO and 184.2 million t Inferred at 1.43% TREO; no preliminary economic assessment has been completed. The company's focus moved to process technology through its wholly owned subsidiary Innord, which it has owned 100% since December 2019. In February 2020 Investissement Québec provided C$1.72 million toward a C$3.2 million magnet recycling demonstration plant in Saint-Bruno-de-Montarville, then sized at up to 1.5 t of feed per shift, with production targeted for 2020; in July 2021 the company described a planned ramp from 1.5 to 4.5 t/day, and in October 2022 it said the project was behind its 2019 and 2020 estimates. The plant is now in Saint-Hubert, Quebec, designed for 1.5 t/day of NdFeB magnet feed after a 2024 redesign to continuous operation; a June 2026 company presentation gives about 500 t/yr of feed and 150 t/yr of rare earth oxide. Funding has come largely from grants, including C$3 million from Quebec's Technoclimat program, C$3 million from Natural Resources Canada, C$2.04 million from NGen, a C$750,000 repayable federal contribution, and a C$1.35 million secured loan at 10.5% announced September 16, 2026. Quebec's environment ministry authorized the plant in June 2026 to operate and collect data through December 31, 2028; a commercial permit would require a separate application. On September 2, 2026 the company said process piping was more than 75% complete and that it expected to begin commissioning process equipment in November 2026. It reported discussions with potential oxide buyers, scrap suppliers and technology licensees, but no offtake or feed contract has been announced. Separately, under an October 2025 joint development agreement, Rio Tinto licensed two circuits of Geomega's bauxite residue technology, with up to C$4.5 million in payments, of which C$1.4 million had been received by January 2026.
Where public sources disagree
- Demonstration plant location: Mining Weekly (Feb 2020) reports Investissement Québec funding for a plant in St-Bruno-de-Montarville; Geomega's MD&As (Oct 2025, Apr 2026) and releases (Feb, Jun and Sep 2026) place the plant in Saint-Hubert, Quebec.
- Demonstration plant capacity basis: the Q3 FY2026 MD&A (Apr 29, 2026) gives 1.5 t/day of feed; the June 2026 investor presentation gives 500 t/yr of feed and 150 t/yr of REO; the July 21, 2021 release described a ramp from 1.5 to 4.5 t/day.
- Headquarters: Yahoo Finance's profile lists Boucherville; Geomega's 2026 releases are datelined Montreal and its operations are in Saint-Hubert.
Latest reports
| Period | Published | Report |
|---|---|---|
| Q1 FY2026 (three months to 31 Aug 2025; fiscal year ends 31 May) | 2025-10-20 | Geomega Resources Inc. Management's Discussion and Analysis (Q1-26) |
| Q3 FY2025 (nine months to 28 Feb 2025; fiscal year ends 31 May) | 2025-04-29 | Geomega Resources Inc. Management's Discussion and Analysis (Q3-25) |
Across these reports
Geomega's magnet recycling demonstration plant moved from equipment delivery to installation and received its environmental permit in June 2026, but construction completion slipped from H1 2026 to fall 2026, with commissioning now expected in November 2026. Cash was C$539,472 at 31 August 2025, down from C$999,043 at fiscal year-end 31 May 2025.
| Measure | What the reports show |
|---|---|
| Cash | C$221,991 (28 Feb 2025) → C$999,043 (31 May 2025) → C$539,472 (31 Aug 2025); working capital C$1,388,716 → C$1,039,660 → C$935,558. |
| Net loss | C$598,484 (Q1 FY2025) → C$617,102 (Q1 FY2026); nine months to 28 Feb 2025 C$1,516,901 vs C$1,376,276 a year earlier. |
| Saint-Hubert (Québec) magnet recycling demonstration plant, 1.5 t/day feed (capacity) | Civil work complete, electrical and mechanical installation under way (Q3 FY25) → two main reactors received, conveyors nearing completion (Q1 FY26) → all long-lead equipment delivered (release 2026-02-06) → all major equipment installed and environmental permit granted 3 Jun 2026 (release 2026-06-03) → process piping more than 75% complete (release 2026-09-02). No production to date. |
| Bauxite residue program (Rio Tinto) | Rio Tinto confirmed product parameters met (Q3 FY25) → Joint Development Agreement announced 8 Oct 2025 with potential C$4.5 million in payments (Q1 FY26) → pre-feasibility engineering substantially advanced, final C$100,000 of C$1.5 million planned 2025-2026 payments expected (2026-06-03). |
Stated dates
| Target | First stated | Now | Status |
|---|---|---|---|
| Demonstration plant construction complete | First half of 2026 (Q1 FY2026 MD&A, 2025-10-20) | Construction 'largely complete by end of summer' 2026 (2026-06-03) -> process piping to finish in fall 2026 (2026-09-02) | moved later |
| Process piping installation complete | End of July 2026 (release 2026-06-03) | Fall 2026, more than 75% complete (release 2026-09-02) | moved later |
| Environmental permit for the demonstration plant | Application filed April 2025 (Q3 FY2025 MD&A); no approval date targeted | Achieved 2026-06-03 (MELCCFP, valid to 31 Dec 2028) | met |
| Demonstration plant commissioning | No date; testwork to start on approval from permitting authorities (Q1 FY2026 MD&A, 2025-10-20) | Expected to begin November 2026 (release 2026-09-02) | not yet due |
Figures are as the company reported them, linked to each report. This summarizes what changed between reports; it is not a view on the company or its shares.
Sources
- Geomega Corporate Update — Geomega / Newsfile (2026-09-02)
- Geomega obtains environmental permit — Geomega / Newsfile (2026-06-03)
- MD&A, nine months to Feb 28, 2026 (French) — Geomega (2026-04-29)
- C$1.35M non-dilutive loan — Geomega / Newsfile (2026-09-16)
- Investor presentation, June 2026 — Geomega (2026-06-01)
- Magnet recycling demo plant update — Geomega / Junior Mining Network (2026-02-06)
- MD&A, three months to Aug 31, 2025 — Geomega / OTC Markets (2025-10-20)
- Interim financial statements, six months to Nov 30, 2024 — Geomega / OTC Markets (2025-01-28)
- Quebec provides financing for recycling project — Mining Weekly (2020-02-10)
- Progress update on demonstration plant (2021) — Geomega / GlobeNewswire (2021-07-21)
- Corporate update (2022) — Geomega / GlobeNewswire (2022-10-26)
- Montviel updated resources — Geomega / Marketwired (firmenpresse) (2015-06-17)
- Company profile — Yahoo Finance
- Geomega acquires remaining 3.84% of Innord — Mining Stock Education (2019-12-01)
- Geomega moves from permit to commissioning — Kalkine (2026-10-13)
How this page is sourced
Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.
What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.
Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.
Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.
Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.
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