Twitter Facebook LinkedIn YouTube

Matamec Explorations (TSXV: MAT) discusses exciting new storage technology using Holmium

Video Platform Video Management Video Solutions Video Player

Matamec Explorations discusses exciting new storage technology using rare earth element Holmium. As published in the March 9th issue of Nature, a team of nano-science researchers, mainly from IBM’s Almaden Research Center in San Jose, California, have successfully stored one bit of data on a single holmium atom.

Additional Information:

Company: Matamec Explorations
Website: http://www.matamec.com
Stock Symbol: TSXV: MAT
Date Published: Mar 16, 2017
Transcript: Available

Video Transcript:

I’m Bethany Rae for Investmentpitch Media

Matamec Explorations discusses exciting new storage technology using rare earth element Holmium.

As published in the March 9th issue of Nature, a team of nano-science researchers, mainly from IBM’s Almaden Research Center in San Jose, California, have successfully stored one bit of data on a single holmium atom.

The researchers were able to use a single holmium atom as the “world’s smallest magnet”, and by passing an electrical current through the holmium, they could alternate between the “1” and “0” digits of the binary code.

The researchers basically demonstrated that two magnetic holmium atoms could be switched on or off independently, even when they were separated by just one nanometer – a distance of one millionth the width of a pin head.

With so little space needed to store data, the discovery could lead to the creation of radically smaller hard drives and data storage systems with much greater capacities for storage – about 1,000 times denser than today’s hard disk drives and solid state memory chips.

With the shares opening at $0.06, up $0.01 over the previous close, they hit $0.08 before closing at $0.06, on volume exceeding 5 million shares.

With 137 million shares outstanding, the company is capitalized at $8.2 million.

Matamec’s Kipawa Rare Earths joint venture, its flagship project, being developed in partnership with Ressources Quebec, is one of North America’s most advanced rare earths projects.

The Kipawa deposit features light and heavy rare earth elements, and is enriched in heavies, including holmium.

André Gauthier, Matamec's President and CEO, stated: "It's very exciting to hear about this technology breakthrough and to imagine the ramifications for data storage applications. As we continue working with leading universities and research centres on several fronts to explore ways to improve the overall project at Kipawa, knowing that there will most likely be an increased demand for holmium in the coming years as a result of possibly groundbreaking new applications certainly is encouraging. Our main objective at Matamec is to develop the Kipawa project to provide a secure North American supply of rare earths, including holmium."

The project is at the development stage and when in production is expected to produce 31.2 tonnes of Holmium oxide per year.

According to the feasibility study report filed on Sedar, the project should be able to maintain that level of production for the life of the mine.

The project has successfully generated a light and heavy rare earth concentrate and continues to improve the metallurgical process with research labs and universities, mostly in Canada.

The company also has several gold properties, along with lithium, cobalt and nickel projects.

For more information, please visit the company’s website www.matamec.com, contact Andre Gauthier, President & CEO, at 514-844-5252 or email info@matamec.com.

Investor relations is handled by Cathy Hume of CHF Capital Markets, who can be reached at 416-868-1079 ext 231 or by email at cathy@chfir.com.
I’m Bethany Rae for Investmentpitch Media