Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.
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VANCOUVER, BC / ACCESSWIRE / July 28, 2021 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") announces promising results from a recently-completed prospecting and soil sampling program at its wholly owned Alotta porphyry gold-copper-molybdenum project, which is located in the Dawson Range porphyry belt of southwestern Yukon (Figure 1). The Alotta project lies 40 km south of Western Copper and Gold's Casino porphyry project, which hosts a 2.4 billion tonne M&I resource(1) containing 7.6 billion pounds of copper (0.14%), 811 million pounds of molybdenum (0.017%) and 14.5 million ounces of gold (0.19 g/t). Rio Tinto recently invested $25.6 million in Western Copper and Gold to fund further work at the Casino Deposit.
The Alotta project is marked by a broad magnetic low that corresponds to a zone of high-level dykes, brecciation and pervasive phyllic and potassic alteration, which are developed within a portion of a large pluton mainly composed of magnetite-bearing, coarse-grained granodiorite. The magnetic low is the result of sulphide replacement of magnetite within the alteration zone (Figure 2).
The 2021 results build upon work that Strategic has done at Alotta over the past three summers. Positive results from successive programs prompted corresponding expansions to the claim block, and the property now totals 74 mineral claims encompassing over 1500 hectares. Collectively the soil geochemical sampling surveys have outlined a very large target that demonstrates classic porphyry zonation, with a 4200 m long by up to 1500 m wide core of strong copper and molybdenum values flanked by lead-zinc-silver anomalies. Highly elevated gold values, which reach a maximum of 2680 ppb, occur throughout the entire area of grid sampling and likely delineate the porphyry mineralization and fringing vein systems. The area of anomalous soil geochemistry closely coincides with the magnetic low (Figures 3 through 7).
The Alotta property is located in an unglaciated portion of Yukon, which is characterized by deep weathering. There is almost no outcrop on the property and most parts of it are well vegetated. Work by the Yukon Geological Survey has shown that residual soils in much of the Dawson Range are covered by a thick layer of eluvium and younger volcanic ash. These features, coupled with localized leaching of metals (particularly copper) from near surface rocks, often dampen the intensity of soil geochemical response and hamper prospecting and mapping. In spite of these limitations, soil sampling at Alotta has yielded highly prospective results and rock sampling has returned elevated gold values that are consistent with expected porphyry grades, including a 2021 sample that assayed 8.73 g/t gold (Figure 8).
No drilling or mechanized trenching has been done at the Alotta project. Now that the area of geochemically anomalous response has been outlined, Strategic believes that the next stage of exploration should consist of deep array induced polarization surveys, coupled with detailed magnetic and radiometric surveys. A maiden diamond drill program should be undertaken following comprehensive interpretation of geophysical, geochemical and geological data.
Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.
About Strategic Metals Ltd.
Strategic is a project generator with 11 royalty interests, 8 projects under option to others, and a portfolio of more than 100 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.
Strategic has a current cash position of $8 million and large shareholdings in a number of active mineral exploration companies including 38.9% of GGL Resources Corp., 33.5% of Rockhaven Resources Ltd., 19.9% of Honey Badger Silver Inc., 19.2% of Precipitate Gold Corp. and 18.7% of Silver Range Resources Ltd. All of these companies are well funded and are engaged in promising exploration projects. Strategic also owns 21.9% of Terra CO2 Technologies Holdings Inc., a private Delaware corporation which recently completed a US$9.2 million financing to advance its environmentally-friendly, cost-effective alternative to Portland cement. The current value of Strategic's stock portfolio is approximately $22 million.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
http://www.strategicmetalsltd.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Strategic Metals Ltd.
View source version on accesswire.com:
https://www.accesswire.com/657324/Strategic-Metals-Delineates-Promising-Porphyry-Au-Cu-Mo-Prospect-at-Its-Alotta-Project-Yukon
Golden Promise Gold Project, Central Newfoundland
VANCOUVER, BC / ACCESSWIRE / July 28 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR)(FSE:PH01) (the "Company" or "Great Atlantic") is pleased to announce it has completed the third hole (GP-21-151) of the 2021 diamond drilling program at its Golden Promise Gold Property, located in the central Newfoundland gold belt. The hole was completed at the Jaclyn Main Zone. Multiple veins with sulfide mineralization were intersected, one of which contains visible gold.
Quartz Vein with Visible Gold in GP-21-151
Drill hole GP-21-151 is a definition hole, drilled between drill holes GP-19-142B and GP-19-144. GP-19-144 intersected high grade gold mineralization within a quartz veined zone (61.35 g/t gold over 2.04 meters core length). GP-21-151 was drilled within the west region of the Jaclyn Main Zone (JMZ). It was drilled to a length of 116 meters. The current drilling is part of the Company's Phase 2 diamond drilling program at the gold bearing Jaclyn Zone. Drill core from GP-21-151 will be geologically logged and sampled at the Company's secure facility in central Newfoundland.
Multiple quartz veins were intersected in GP-21-151, some with sulfide mineralization. A 0.78-meter long (core length) quartz vein was intersected at 47.22-47.98 meters with visible gold. Drill core samples from GP-21-151 will be submitted to a certified laboratory for gold assay and multi-element analysis.
Drilling is underway on the third hole GP-21-152, which is also a definition hole in the western part of the JMZ.
The current Phase 2 drilling will include up to 33 drill holes at the gold bearing Jaclyn Zone with holes planned at the JMZ and Jaclyn North Zone with total planned drilling of approximately 5,000 meters. The objective of drilling at the JMZ is to further define the zone and provide information for an updated resource estimate of the JMZ. The Company is continuing the drill hole numbering system from previous drilling programs. Most of the planned holes at the JMZ are within the central to west region of the zone, testing above 200 meters vertical depth. Two holes are planned in the east part of the JMZ to test the zone at 200-350 meters vertical depth.
Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold – uncapped).
The Company confirmed high-grade gold at the JMZ during 2019 drilling, including near surface intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters, 61.35 g/t gold over 2.04 meters and 15.8 g/t gold over 2.70 meters plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 g/t gold over 25.25 meters.
Quartz Vein with Visible Gold in GP-21-151
The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization the Golden Promise Property.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
Investor Relations:
Andrew Job 1-416-628-1560 IR@GreatAtlanticResources.com
Office Line 604-488-3900
About Great Atlantic Resources Corp.
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resource Corp.
View source version on accesswire.com:
https://www.accesswire.com/657317/Great-Atlantic-Third-Drill-Hole-Completed-Visible-Gold-Intersected-in-One-Vein
MONTREAL, July 28, 2021 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with Probe Metals Inc. (“Probe”), is pleased to announce the start of an important geophysical program on the La Peltrie project, consisting of several induced polarization (“IP”) surveys covering new geochemical anomalies recently identified on the La Peltrie project.
This project, wholly owned by Midland and under option since July 2020 by Probe (see press release by Midland dated July 9, 2020), is located along the Lower Detour Fault southeast of Zone 58N held by Kirkland Lake Gold Ltd.
Pursuant to the option agreement, Probe issued 32,544 common shares to Midland for the second payment for a total value of $55,000 based on a 5-day weighted average price of $1.69 per share on the TSX Venture Exchange. In addition, exploration work totalling at least $500,000 will be completed by July 31, 2021, in order to fulfil the firm commitment for the first year of the agreement.
IP surveys totalling approximately 45 kilometres in three (3) grids of approximately 15 kilometres each will cover gold and/or copper geochemical anomalies located along the perimeter of a syntectonic intrusion. Pending the results of this work, a first drilling campaign in partnership with Probe will be planned to test the best targets identified.
The La Peltrie property is located approximately 25 kilometres southeast of the high-grade Lower Detour Zone 58N gold deposit held by Kirkland Lake Gold Ltd, which hosts indicated resources totalling 2.87 million tonnes at a grade of 5.8 g/t Au (534,300 oz Au) and inferred resources totalling 0.97 million tonnes at a grade of 4.35 g/t Au (136,100 oz Au) (Source: NI 43-101 report from Kirkland Lake Gold effective on December 31, 2020). It is also located proximal to the B26 deposit held by SOQUEM, where indicated resources are estimated at 6.97 million tonnes grading 1.32% Cu, 1.80% Zn, 0.60 g/t Au and 43.0 g/t Ag, and inferred resources at 4.41 million tonnes grading 2.03% Cu, 0.22% Zn, 1.07 g/t Au and 9.0 g/t Ag (Source : NI 43101 report from SGS for SOQUEM effective on January 31, 2018). The La Peltrie property is also located 25 kilometres northwest of the former Selbaie mine, which historically produced 56.5 million tonnes of ore grading 1.9% Zn, 0.9% Cu, 38.0 g/t Ag and 0.6 g/t Au.
Cautionary statement:
Mineralizations occurring at the Lower Detour Zone 58N, the B26 deposit and the former Selbaie mine are not necessarily indicative of mineralization that may be found on La Peltrie.
About Probe
Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the multimillion ounce Val-d’Or East Gold Project, Quebec. The Company is well-funded and controls a strategic land package of approximately 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company was formed as a result of the $526M sale of Probe Mines Limited to Goldcorp Inc. in March 2015. Newmont Corporation currently owns approximately 11.6% of the Company.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as Probe Metals Inc., Wallbridge Mining Company Ltd, BHP Canada Inc., Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM INC., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.
This press release was prepared by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release.
For further information, please consult Midland’s website or contact:
Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax: 450 420-5978
Email: info@midlandexploration.com
Website: www.midlandexploration.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.
Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f39f6772-4192-4ac3-95e5-0985b653126c
TORONTO, July 28, 2021 (GLOBE NEWSWIRE) — Probe Metals Inc. (TSX-V: PRB) (“Probe” or the "Company") is pleased to announce that it has completed the second payment (the “Second Payment”) due in consideration of a binding option agreement previously announced on July 9, 2020 (the “Agreement”) with Midland Exploration Inc. (“Midland”, TSXV: MD), whereby Probe may earn up to a 65% interest in the La Peltrie gold property (the “Property”). The details of the transaction are described in the Company’s press release dated July 9, 2020.
Pursuant to the Agreement, the Company issued 32,544 common shares to Midland for the second payment for a total value of $55,000 based on a 5-day weighted average price (VWAP) of $1.69 per share on the TSX Venture Exchange (the “Exchange”). In accordance with the applicable securities regulations and policies of the Exchange, the common shares issued to Midland pursuant to the transaction are subject to a statutory four month and a day hold period.
Probe has commenced ground geophysical programs on the La Peltrie property in preparation for upcoming drilling programs. Drills are currently turning on the Gaudet-Fenelon joint-venture property, with joint-venture partner Midland, on the eastern end of the Detour Project.
Probe’s Detour Quebec Project
The discovery stage Project covers an area of 777 square kilometres along the Detour Gold Trend, including the La Peltrie property option, the Gaudet-Fenelon JV property, the wholly owned Detour Quebec Main and North properties, and is located 190 kilometres north of Rouyn-Noranda and 40 kilometres northwest of the town of Matagami, Quebec, and hosts the Sunday Lake, Massicotte and Lower Detour Lake gold deformation zones (See Figure 1). Both the La Petrie option and Gaudet-Fenelon JV properties are in partnership with Midland Exploration Inc. The Project is located along the lateral extensions of Canada’s second largest gold mine at Detour Lake, operated by Kirkland Lake Gold Ltd., and recent high-grade gold discoveries in Zone 58N, Fenelon/Tabasco, Area 51 and Martiniere/Bug Lake made by Balmoral Resources Ltd. and subsequently their recent acquirer Wallbridge Mining Company Ltd. (TSX: WM) on their land package adjacent to the northern boundary of Probe’s property.
Qualified Person:
The technical content of this press release has been reviewed by Mr. Marco Gagnon, P.Geo, who is a “Qualified Person” within the meaning of NI 43-101, and Executive Vice-President and a director of Probe.
About Midland Exploration:
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as Probe Metals Inc., Wallbridge Mining Company Ltd., BHP Billiton Canada Inc., Agnico Eagle Mines Limited, Osisko Mining Inc., SOQUEM INC., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.
About Probe Metals:
Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the multimillion-ounce Val-d’Or East Gold Project, Quebec. The Company is well-funded and controls a strategic land package of approximately 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company was formed as a result of the $526M sale of Probe Mines Limited to Goldcorp. Eldorado Gold Corporation currently owns approximately 11.5% of the Company.
On behalf of Probe Metals Inc.,
Dr. David Palmer,
President & Chief Executive Officer
For further information:
Please visit our website at www.probemetals.com or contact:
Seema Sindwani
Director of Investor Relations
info@probemetals.com
+1.416.777.9467
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Shares Issued: 130,563,431
New Bona and Vista Zone Discoveries Extend the Mineralized Treasure Shear Trend to 700 m
Vancouver, British Columbia–(Newsfile Corp. – July 26, 2021) – Endurance Gold Corporation (TSXV: EDG) (the "Company") is pleased to provide an update on the ongoing prospecting, channel sampling and soil sampling designed to identify multiple additional drill targets on the Reliance Gold Property (the "Property") in southern British Columbia. The company is also pleased to announce that it has now signed a diamond drill contract with mobilization expected in August. The Property is located 4 kilometres ("km") east of the village of Gold Bridge with year-round road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.
The results of the exploration activity reported to date indicate the existence of multiple gold bearing shear zone features within an area encompassing 1,500 metres ("m") of strike, 450 m of horizontal width and over 750 m of vertical extent. To date, exploration has discovered and confirmed gold in drilling at the Eagle Zone, Imperial Zone, Diplomat Zone and the Treasure Prospect. Additional exploration and drilling is required to explore this large prospective area. The diamond drilling program is expected to commence in August but will likely involve multiple drilling campaigns to fully evaluate the gold bearing system.
Eagle Extension Soil Sampling
As reported on June 17, 2021, the furthest southeast reverse circulation drill intersections of the Eagle Zone include 9.87 grams per tonne gold ("gpt Au") over 7.62 m in RC21-040 and 8.95 gpt Au over 3.05 m in RC21-041. Thus, the Eagle Zone discovery in drilling remains open to expansion to the southeast. As reported on February 16, 2021, this area is also associated with a biogeochemical anomaly which extended the exploration potential of the Eagle Zone by another 400 m to the Upper Eagle target. To date in 2021, 151 soil/talus fine samples have been collected from the Eagle Extension through to the Upper Eagle target area and were analyzed at site by pXRF. A subset of 80 soil samples determined to be elevated in arsenic were shipped to ALS Minerals for gold analysis.
The results of these 80 selected soil samples extended the greater than 100 parts per billion ("ppb") gold-in-soil anomaly by 300 m to the southeast of the Eagle Zone drilling. Highlights include four (4) soil/talus fine samples which exceeded 1,000 ppb gold or 1.0 part per million ("ppm") gold. The location of the target areas and associated large soil anomaly are shown on the map below or available on the Company website.
Of particular encouragement are the results of the 3DIP geophysical survey completed in 2021 which have identified a chargeability anomaly that extends to the southeast into the Upper Eagle target area which is associated with the soil anomaly and Eagle Zone mineralization intersected in drilling. That IP chargeability anomaly also extends to the northwest into areas that remain to be explored with drilling.
When combined with the soil/talus fine gold results collected in 2020, the greater than 100 ppb gold-in-soil anomaly associated with the combined Royal Shear and Treasure Shear has been extended to 1.2 km strike and remains open to expansion along trend. Sixteen (16) soil/talus fine samples from combined 2020 and 2021 soil surveys have values that exceed 1.0 ppm gold-in-soil.
New Zones Identified at Bona and Vista
As reported on February 16, 2021, a biogeochemical anomaly was identified associated with the Treasure Shear Trend that indicates strike potential of approximately 1,400 m. As subsequently reported on May 27, 2021, gold was confirmed in bedrock with a drill intersection of 1.6 gpt Au over 6.10 m at the Treasure Prospect. As a result of this encouragement, a review of recently received LiDAR DEM images, prospecting and additional soil sampling was completed and has resulted in the identification of the Vista and Bona showings, two potentially gold-mineralized shear zones along the Treasure Shear trend. Assuming gold is confirmed in these shears, these zones extend the mineralized potential of the Treasure Shear to about 700 m in strike, remaining open to expansion in both directions. The location of the Bona and Vista Zones are shown on the map below or available on the Company website.
Vista Showing – The Vista gold showing was originally identified and reported in 1988 by a prior operator but the location had been lost to overgrowth. There is no historic documented drill testing of this target. The Company believes this zone has now been rediscovered in four (4) spatially associated outcrops along historic road cuts. At the Vista Main Outcrop, fifteen (15) channel samples have been collected over 18.4 m of horizontal distance. In this outcrop, an observed shear zone dipping -50 degrees to the southwest exhibits strong orange ankerite and darker hematite alteration. The shear is hosted in a silicified basalt flow. The Vista West Outcrop is 11 m west of Vista Main Outcrop and, at this location, six (6) channel samples were collected over 8.5 m horizontal distance. The Main and West outcrops exposures with shear zones exposed are separated along the same roadcut by massive, blocky weathering, unmineralized basalt. The third outcrop with oxidized shearing is located 25 m to the northwest of Vista Main Outcrop, and the fourth outcrop associated with oxidized shearing is located 75 m to the northwest of Vista Main Outcrop. Further outcrop stripping and sampling is required to be completed at the third and fourth outcrops. At this time no gold assay results have been received for the Vista Showing but are expected in August.
Bona Showing – The Bona gold showing was originally identified and reported in 1985 by a prior operator but the location had been lost to overgrowth. There is no historic documented drill testing of this target. The Company believes this zone has now been rediscovered. At the Bona Showing, a 7.3 m wide oxidized shear has been recently exposed in outcrop. Six (6) channel samples have now been collected over 10.36 m of horizontal distance. The strike and dip for this shear is unknown but is assumed to have a shallow to moderate dip to the southwest. The shear exhibits strong orange ankerite alteration with local wispy zones of reddish-brown oxidized hematite. At this time no gold assay results have been received for the Bona Showing but are expected in August.
Community Consultation and Engagement – The Company is proud of its efforts to engage and inform local communities, as well as employ local personnel and contractors as much as possible, including the First Nation communities. Engagement and dialogue are continuing with affected First Nation communities to determine opportunities for mutually beneficial participation. This outreach effort has resulted in the Company contracting Tsal'alh Development Corporation (TDC) to assist in providing personnel and contracting assistance with numerous aspects of our exploration program in 2020 and continuing in 2021. The planned diamond drilling activity may involve the excavation of additional drill trails and we are continuing with our engagement with affected First Nation communities to evaluate any impacts or concerns. In addition, we continue to engage other residents and local service providers located within the Upper Bridge River Valley to assist with our exploration program.
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com
Soil samples were submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they were prepped and screened to -180 micron using method code SCR-41. Samples were then submitted for aqua regia digestion and analyzed for gold and other trace elements with an ICP-MS finish (method code AuME-TL43). Over limit samples returning greater than 1,000 ppb gold were re-analyzed by Au-AROR43 methodology.
RC samples summarized herein were collected under the supervision of a geologist at the drilling rig. Drilling was completed using a 3.5 inch hammer bit and rock chip samples were collected using a cyclone. Sample size were reduced to 1/8th size with a riffle splitter at the drilling rig. A second duplicate split and coarse chips were collected for reference material and stored. All RC samples have been submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they are crushed to 70% <2 mm then up to 250 gram pulverized to <75 microns. Samples are then submitted for four-acid digestion and analyzed for 48 element ICP-MS (ME-MS61) and gold 30g FA ICP-AES finish (AU-ICP21). Over limit samples returning greater than 10 ppm gold are re-analyzed by Au-GRA21 methodology and over limit antimony returning greater than 10,000 ppm Sb are re-analyzed by Sb-AA08 methodology.
The work program was supervised by Darren O'Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
July 26, 2021 Reliance soil sample map
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4976/91161_481410b87431c856_002full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91161
By Tejaswi Marthi
(Reuters) -Australia's Lynas Rare Earths Ltd posted record quarterly revenue on Monday on the back of "very strong" demand for its range of specialized metals that offset softer prices, sending its shares to a more than eight-year high.
Lynas, the largest rare earths producer outside China, reported a jump in fourth-quarter revenue to A$185.9 million ($137 million), more than triple A$38 million a year earlier, pushing the stock up 9% to A$7.01, its highest since January 2013.
Demand for rare earth materials such as neodymium and praseodymium (NdPr) has rebounded from a pandemic-driven drop last year as electric vehicles continue to gain popularity amid a global push to reduce carbon emissions.
NdPr is also used in magnets for windfarms, gadgets like smartphones, and military equipment, and Lynas and other western producers stand to benefit from efforts by the United States to curb its reliance on China for the specialized minerals.
"Demand for Lynas products, in particular for our NdPr product family, continued to be very strong through the quarter, leading to record sales and cash collection," Chief Executive Officer Amanda Lacaze said in a statement.
Lacaze said a drop in prices during the quarter was due to a "normal correction after the sharp and speculative increases seen in the previous months" and added that prices had strengthened again in July.
Lynas produced 1,393 tonnes of NdPr in the quarter, up from 775 tonnes a year ago. Its full product range garnered an average selling price of A$39.1/kg, up from A$20.2/kg last year.
Lynas also said it had identified a second potential site in Malaysia to build a low-level radioactive waste disposal facility amid ongoing delays for clearance of an earlier site identified by the Pahang state government.
($1 = 1.3576 Australian dollars)
(Reporting by Tejaswi Marthi and Harish Sridharan, additional reporting by Shashwat Awasthi in Bengaluru; Editing by Sonya Hepinstall and Richard Pullin)
BEDFORD, NS / ACCESSWIRE / July 23, 2021 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSXV:SSE) is pleased to announce the continuation of its Phase 1 exploration drilling at the El Mezquite Au-Ag property ("El Mezquite" or the "Property"). The first seven (7) drill holes are complete and have been submitted to the laboratory, and Layne de Mexico has added a second drill to the Property to aim to complete the 2,475 metres of drilling by the end of next week.
"We are pleased that the arrival of a second drill at El Mezquite will allow Silver Spruce to complete our Phase 1 program by the end of July and permit all samples to be fully logged and submitted to the lab before the second week of August. The technical team has been expanded with additional geologists and samplers to expedite our progress," stated Greg Davison, Silver Spruce Vice-President Exploration and Director. "The program was delayed for four weeks in order to deal with equipment logistical issues during which we demobilized the team and drill."
Figure 1. Looking north across Pad M1 (MEZ001, MEZ-002, MEZ-003) at El Mezquite showing RC rig from Layne de Mexico drilling on a southerly azimuth at -45° dip angle
"The Phase 1 RC program comprises 20 holes with a combined depth of 2,475 metres (950 metres completed) and will utilize eight drill pad locations focused around a 400m x 600m area with elevated precious metal values to 3.41 g/t Au and 387 g/t Ag. Collars were defined by several northeast-trending veins, structural lineaments and oxide/sulphide transitions interpreted from geological mapping, precious metal assays, multi-element geochemistry, epithermal alteration assemblages and coincident 3D IP chargeability anomalies," said Mr. Davison. "New targets also are developing from our ongoing geological, hyperspectral and LiDAR compilation, and incoming drill results."
The Company's first-ever drilling program at El Mezquite still is scheduled to be completed in July with samples submitted to ALS Global in Hermosillo on a weekly basis. Laboratory assay results were anticipated from two to six weeks after submittal. Customs clearance, courier transport logistics and laboratory workloads each have impacted the projected turnaround time for the assays. The data will be released once the final precious metal and multi-element results are in receipt and interpreted for the first seven (7) drill holes, and for the remaining thirteen (13) drill holes, and all of which will contribute to the program design for Phase 2 drilling after the summer rainy season.
Figure 2. Location Map for El Mezquite, Jackie and Diamante Concessions. Nicho mine development by Minera Alamos located 10 km SE of El Mezquite.
El Mezquite, a drill-ready precious metal project located 10 km northwest of the town of Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico, is very well situated in terms of logistics for exploration and is located only twelve kilometres northwest of the Nicho deposit currently under mine development by Minera Alamos (see Figure 2).
Exploration Overview
The Company undertook an exploration program including environmental permitting for drilling, geological mapping of geologic structures and lineaments, ortho-mosaic photography, rock geochemical and hyperspectral analysis, data compilation and GIS modeling, and a LiDAR survey. Ground truthing of the Au-Ag system with geological mapping and rock sampling was completed in three campaigns between July 2020 and March 2021. All aspects of the exploration program are conducted with strict adherence to COVID-19 protocols for personal safety.
All current samples from the 2020-2021 programs were submitted to ALS Global for gold, multi-element and hyperspectral analysis. Historical samples (>400) from the 2010-2019 programs also were submitted to provide complementary multi-element and hyperspectral data over the Property database. The final batch of assay results are in receipt and pending GIS upload and interpretation.
LiDAR survey and satellite hyperspectral interpretation results were received recently and are being updated into the project GIS database.
RC Drill Program
The environmental permit, required to drill the Property, was received from SEMARNAT (see Press Release April 20, 2021) and granted to the concession holder, Yaque Minerals S.A. de C.V. ("Yaque") by the Mexican Secretariat of Environment and Natural Resources (SEMARNAT).
The permit allows for fourteen (14) drill pads over the targets in the northern area of the concession. Individual holes are expected to reach depths of 100-200 metres to intersect the target intervals.
Land surface agreements were signed recently with three ranchers to facilitate full access to the Phase 1 collar locations.
Project Background
The 180-hectare Property is easily accessible from Mexican Highway #16 via a southerly-trending unpaved road which traverses through the centre of the known gold mineralization (see Figures 2 and 3). High voltage power lines are positioned along Highway #16.
The El Mezquite Project is located within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the well-known, precious metals-rich Mojave-Sonora Megashear (see Figure 3).
Geochemical Analysis, Quality Assurance and Quality Control
Drill chip sample splits are delivered to the ALS sample preparation facility in Hermosillo, Sonora, Mexico. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.
The samples are crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). The sample pulps and crushed splits are transferred internally to ALS Global's North Vancouver analytical facility for gold and multi-element analysis. Pulps (50gram split) are submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA24).
The retained pulps also will be analysed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61m) with Hg by Aqua Regia and ICP-MS (Hg-MS42).
Over-limit Au and Ag samples will be analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Overlimit base metals will be analyzed by Four Acid Digestion followed by Ore Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) for Cu, Pb and Zn (Cu-OG62, Pb-OG62, Zn-OG62).
In-house quality control samples (blanks, standards, duplicates, preparation duplicates) are inserted into the sample set. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results will be provided with the Company sample certificates. The results of the ALS control samples are reviewed by the Company's QP and evaluated for acceptable tolerances.
All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.
Figure 3. Location Map of El Mezquite Property and Mines of the Sierra Madre Occidental
Qualified Person
Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the El Mezquite Project and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), under TSX guidelines.
About Layne de Mexico
Layne Mineral Services, a Granite Company, is one of the largest providers of drilling services in the Americas, and its Mexican subsidiary, Layne de Mexico, has its equipment and technical team based in Hermosillo, Sonora, Mexico.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit, respectively. The Company also is pursuing exploration of the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
Contact:
Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com
Michael Kinley, CEO and Director
(902) 402-0388
mkinley@silverspruceresources.com
info@silverspruceresources.com
www.silverspruceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
SOURCE: Silver Spruce Resources Inc.
View source version on accesswire.com:
https://www.accesswire.com/656782/Silver-Spruce-Provides-Update-on-Phase-1-Drilling-and-Layne-de-Mexico-adds-2nd-Drill-at-El-Mezquite-Au-Ag-Project-Sonora-Mexico
VANCOUVER, British Columbia, July 23, 2021 (GLOBE NEWSWIRE) — Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), is pleased to announce the signing of a non-binding letter of intent (“LOI”) with Australian private company ACDC Metals Pty Ltd (“ACDC”) to form a partnership to utilize Medallion’s proprietary process to extract rare earth elements from monazite (the “Medallion Monazite Process”) in southeastern Australia.
The Medallion Monazite Process is a proprietary method that enables sustainable extraction of rare earth elements (“REE”) from mineral sand monazite. Monazite is a rare earth phosphate mineral globally available as a by-product from heavy mineral sand mining operations. Medallion recently published the positive findings of a Techno-Economic Assessment (“TEA”) which provides the engineering and economic foundation for commercializing the Medallion Monazite Process. This includes seeking both operational and licencing opportunities with qualified partners in mineral sand monazite rich jurisdictions.
ACDC is securing the right to acquire three historical non JORC/NI43-101 compliant mineral sand resource properties and other exploration assets in Victoria (Australia), to potentially underpin a supply of monazite suitable for the Medallion Monazite Process. ACDC is planning to complete an Initial Public Offering (“IPO”) upon the Australian Stock Exchange (“ASX”) within 12 months.
ACDC Managing Director Mr. Andrew Shearer commented, “ACDC recognizes the potential value add available to shareholders and stakeholders by the extraction of rare earth elements from mineral sand monazite. In partnering with Medallion Resources, we believe we have accessed the right technology at the right time, allowing us to be fast to market as REE prices rise and the market expands. We are excited to play a role to improve supply security and reduce environmental impact of rare earth element production.”
“We are very pleased to have signed this LOI with ACDC so soon after completion of the TEA,” said Mark Saxon, President and CEO. “ACDC is acquiring monazite-rich mineral sand resources in the Murray Basin, one of the world’s premier mineral sand provinces. By bringing together these resources with Medallion’s processing technology we see a great synergy to produce REEs. The Medallion Monazite Process and LAD Chromatography provides the opportunity for maximum value add while minimizing environmental footprint of REE extraction and separation.”
The LOI outlines various terms and conditions that will form the basis of a binding contract (the “Binding Contract”) that will be executed by the parties, subject to mutual due diligence. The LOI provides ACDC with the exclusive right to construct a mineral sand monazite refinery in southeastern Australia utilizing the Medallion Monazite Process, and the right to sub-license the Ligand Assisted Displacement (“LAD”) Chromatography process for REE separation.
In compensation, Medallion shall receive a significant allocation of pre-IPO shares of ACDC, transferable rights to contribute funding to ACDC at seed and IPO stages, milestone payments and a royalty on successful operation of the refinery. Medallion will issue additional press releases related to the final legal and commercial structure within the Binding Contract as it becomes available. The Binding Contract is subject to regulatory approval. Investors are cautioned that the LOI is non-binding, and there is no guarantee that the parties will enter into the Binding Contract, or that the transactions contemplated in this press release will be completed.
All information contained in this news release with respect to ACDC Metals Pty Ltd was supplied by ACDC Metals Pty Ltd for inclusion in this press release, and Medallion Resources Ltd and its directors and officers do not take responsibility for such information.
About Medallion Resources
Medallion Resources (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. Furthermore, Medallion has recently licensed an innovative REE separation technology from Purdue University which can be utilized by Medallion and sub-licensed by Medallion to third party REE producers.
REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral transportation, processing and the safe management of waste materials. Medallion utilizes Life Cycle Assessment methodology to support investment and process decision making.
More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.
Contact(s):
Mark Saxon, President & CEO
+1.604.681.9558 or info@medallionresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Medallion management takes full responsibility for content and has prepared this news release. Some of the statements contained in this release are forward-looking statements, such as statements that describe Medallion’s plans with respect to entering into the Binding Contract, and licensing the Medallion Monazite Process to ACDC. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks related to market conditions and regulatory approval and other risks outlined in the company’s management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, Medallion disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required pursuant to applicable laws.
REE U.S. HQ to capitalize on growing market demand for EVs in North America
REE Austin is expected to generate more than 150 jobs in the region in the next few years
Expected annual capacity of U.S. Integration Center to be 40,000 modular EV platforms by H2 2022
TEL-AVIV, Israel, July 23, 2021—(BUSINESS WIRE)—REE Automotive Ltd. [NASDAQ: "REE"], a leader in e-Mobility, today announced that it will open its U.S. headquarters in Austin, Texas to address the growing U.S. market demand for mission-specific EVs from delivery and logistics companies, Mobility-as-a-Service and new technology players. In addition, Austin will be the location of REE’s first asset-light Integration Center for the assembly and testing of its disruptive REEcorner™ technology and ultra-modular EV platforms. The new Integration Center will offer REE’s technology to its existing and future automotive partners in North America, enabling them to build modular EVs "Powered by REE". REE is exploring several collaborations with a number of Koch Industries, Inc. companies, to support and accelerate the establishment of REE’s integration center in Austin. Koch Strategic Platforms, LLC, a subsidiary of Koch Industries, is an investor in REE as well. The REE Austin facility is expected to create approximately 150 jobs in upcoming years.
"Establishing our U.S. headquarters in Austin, Texas best positions us for growth and rapid expansion," said Daniel Barel, REE’s Co-Founder and CEO. "Austin is fast becoming a worldwide home for elite technology professionals. REE needs to continue growing and thriving, and Austin’s dynamism and entrepreneurial spirit definitely fit REE’s culture and values. Our U.S. presence will allow us to capitalize on the incredible opportunities in the U.S. market and put us closer to our North American-based customers and partners, including Magna International and JB Poindexter, as we work together to develop and deliver modular EVs (MEVs™)."
REEcorner™ technology integrates critical vehicle components, including steering, braking, suspension, powertrain and control, into a single compact module between the chassis and the wheel, using x-by-wire technology for steering, driving and braking. This innovation has enabled REE to develop a modular, fully-flat skateboard chassis with more room for passengers, cargo and batteries that will be highly adaptable to customers. EV platforms using REEcorners™ are agnostic to vehicle size and design, power-source and driving mode, enabling REE to target a $700 billion total addressable market, and help OEMs, delivery fleets, Mobility-as-a-Service providers and new mobility players get to market faster at a fraction of the cost.
REE intends to tap into a global network of Tier 1 partners’ manufacturing capacity, with full point-of-sale component assembly and testing set to take place in REE’s Integration Centers. REE expects this manufacturing process to significantly reduce capital expenditures and increase REE’s global presence and market share. REE’s CapEx-light manufacturing approach and Integration Centers are designed to enable the company to remain a comparatively asset-light enterprise, helping to increase operating margins and ROI and reduce the carbon footprint of its operations.
Michael Charlton, REE’s COO, commented, "REE’s Integration Centers will be designed to be fully modular and scalable to ensure the Company achieves projected production volumes. The state-of-the-art centers will utilize automation, including Automated Guided Vehicles (AGVs), for the optimal movement of assemblies, with the goal of increasing automation levels to Industry 4.0 Technology and beyond."
About REE
REE is an automotive technology leader creating the cornerstone for tomorrow's zero-emission vehicles. REE’s mission is to empower global mobility companies to build any size or shape of electric or autonomous vehicle – from class 1 through class 6 – for any application and any target market. Our revolutionary, award-winning REEcorner technology packs traditional vehicle drive components (steering, braking, suspension, powertrain and control) into the arch of the wheel, allowing for the industry's flattest EV platform. Unrestricted by legacy thinking, REE is a truly horizontal player, with technology applicable to the widest range of target markets and applications. Fully scalable and completely modular, REE offers multiple customer benefits including complete vehicle design freedom, more space and volume with the smallest footprint, lower TCO, faster development times, ADAS compatibility, reduced maintenance and global safety standard compliance.
Headquartered in Tel Aviv, Israel, with subsidiaries in the USA, the UK and Germany, REE has a CapEx-light manufacturing model that leverages its Tier 1 partners’ existing production lines. REE’s technology, together with its unique value proposition and commitment to excellence, positions REE to break new ground in e-Mobility.
For more information visit: www.ree.auto
Caution About Forward-Looking Statements
This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plan," "projects," "believes," "views," "estimates", "future", "allow", "aims", "strives" "endeavors" and similar expressions are used to identify these forward-looking statements. These statements include, among other things, the Company’s statements about the Company’s strategic and business plans, relationships or outlook, the impact of trends on and interest in its business, intellectual property or product and its future results. These forward-looking statements are based on REE’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect REE’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: REE’s ability to commercialize its strategic plan; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that the Company is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the ongoing COVID-19 pandemic and any other worldwide health epidemics or outbreaks that may arise; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in REE’s final prospectus relating to its business combination filed with the U.S. Securities and Exchange Commission (the "SEC") on July 1, 2021 and in subsequent filings with the SEC. While the list of factors discussed above and the list of factors presented in the final prospectus are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210723005215/en/
Contacts
Media Keren ShemeshChief Marketing Officer | REE Automotive+972-54-5814333media@ree.auto Investor Relations Limor GruberVP Investor Relations | REE Automotive+972-50-5239233investors@ree.auto
Company Executives share vision and answer questions live at VirtualInvestorConferences.com
NEW YORK, July 22, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Green Energy and Precious Metals Investor Conference on July 27th, 28th & 29th. Individual investors, institutional investors, advisors, and analysts are invited to listen to the executive management of green energy and precious companies discuss their property positions, development schedules, market opportunity, and investment highlights.
July 27th agenda focuses on companies representing exploration, development and production of various metals and minerals that are crucial elements of the power supply chain for the emerging "Green Power" infrastructure. Presenting companies include Uranium, Cobalt, Graphite, Lithium, Manganese, Nickel and Rare Earth entities.
July 28th and 29th agenda includes a roster of Base and Precious Metals companies including Gold, Silver, Copper and Zinc entities. The program opens at 8:45 AM ET, with the first webcast at 9:00 AM ET on Tuesday, July 27th.
REGISTER NOW AT: https://bit.ly/3yWGWaE
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations or ask questions.
"OTC Markets is excited to host the three-day Green Energy and Precious Metals Investor Conference co-sponsored by Murdock Capital and TAA Advisory," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "We are proud to feature an expansive roster of companies spearheading exploration, development and production in this sector. We welcome the contributions of our keynote speakers Byron King, Editor, Agora Financial-St. Paul Research and Raymond McCormick, Managing Director, Capstone Partners."
July 27th Agenda:
Eastern |
Presentation |
Ticker(s) |
9:00 AM |
Byron King, Editor, "Whiskey & Gunpowder", Agora Financial-St. Paul Research |
|
9:30 AM |
Appia Energy Corp. |
(OTCQB: APAAF | CSE: API) |
10:00 AM |
Thor Mining PLC |
(OTCQB: THORF | ASX: THR | AIM: THR) |
10:30 AM |
Renforth Resources Inc. |
(OTCQB: RFHRF | CSE: RFR) |
11:00 AM |
Ion Energy Ltd. |
(OTCQB: IONGF | TSX-V: ION) |
11:30 AM |
Baselode Energy Corp. |
(OTCQB: BSENF | TSX-V: FIND) |
12:00 PM |
Raymond M. McCormick, Managing Director, Energy & Natural Resources, Capstone Partners "An Investment Banker's Perspective of the Uranium Industry" |
|
12:30 PM |
Blue Sky Uranium Corp. |
(OTCQB: BKUCF | TSX: BSK) |
1:00 PM |
Energy Fuels Inc. |
(NYSE American: UUUU | TSX: EFR) |
1:30 PM |
Euro Manganese Inc. |
(OTCQX: EUMNF | TSX-V: EMN) |
2:00 PM |
Silver Elephant Mining Corp |
(OTCQX: SILEF | TSX-V: ELEF) |
2:30 PM |
Commerce Resources Corp. |
(OTCQX: CMRZF | TSX-V: CCE) |
3:00 PM |
First Cobalt Corp. |
(OTCQX: FTSSF | TSX-V: FCC) |
3:30 PM |
Nouveau Monde Graphite Inc. |
(NYSE: NMG | TSX-V: NOU) |
4:00 PM |
Giga Metals Corp. |
(OTCQB: HNCKF | TSX-V: GIGA) |
4:30 PM |
Nova Royalty Corp. |
(OTCQB: NOVRF | TSX-V: NOVR) |
July 28th Agenda
Eastern |
Presentation |
Ticker(s) |
9:30 AM |
Lion One Metals Ltd. |
(OTCQX: LOMLF | TSX-V: LIO) |
10:00 AM |
Starcore International Mines Ltd. |
(OTCQB: SHVLF | TSX: SAM) |
10:30 AM |
Newcore Gold Ltd. |
(OTCQX: NCAUF | TSX-V: NCAU) |
11:00 AM |
Arizona Metals Corp. |
(OTCQX: AZMCF | TSX-V: AMC) |
11:30 AM |
Barksdale Resources Corp. |
(OTCQX: BRKCF | TSX-V: BRO) |
12:00 PM |
Ridgeline Minerals Corp. |
(OTCQX: RDGMF | TSX-V: RDG) |
12:30 PM |
Liberty Gold Corp. |
(OTCQX: LGDTF | TSX: LGD) |
1:00 PM |
Outback Goldfields Corp. |
(OTCQB: OZBKF | CSE: OZ) |
1:30 PM |
Karora Resources Inc. |
(OTCQX: KRRGF | TSX: KRR) |
2:00 PM |
Empress Royalty Corp. |
(OTCQB: EMPYF | TSX-V: EMPR) |
2:30 PM |
Bunker Hill Mining Corp. |
(Pink: BHLL | CSE: BNKR) |
3:00 PM |
Vior Inc. |
|
3:30 PM |
Kodiak Copper Corp. |
(OTCQB: KDKCF | TSX-V: KDK) |
4:00 PM |
Heliostar Metals Ltd. |
(OTCQX: HSTXF | TSX-V: HSTR) |
4:30 PM |
Honey Badger Silver Inc. |
(Pink: HBEIF| TSX-V: TUF) |
July 29th Agenda:
Eastern |
Presentation |
Ticker(s) |
9:30 AM |
Tinka Resources Ltd. |
(OTCQB: TKRFF | TSX-V: TK) |
10:00 AM |
Salazar Resources Ltd. |
(OTCQB: SRLZF | TSX-V: SRL) |
10:30 AM |
Stratabound Minerals Corp. |
(OTCQB: SBMIF | TSX-V: SB) |
11:00 AM |
KORE Mining Ltd. |
(OTCQX: KOREF | TSX-V: KORE) |
11:30 AM |
Fabled Silver Gold Corp. |
(OTCQB: FBSGF | TSX-V: FCO) |
12:00 PM |
Element 29 Resources Inc. |
(OTCQB: EMTRF| TSX-V: ECU) |
12:30 PM |
Canada Nickel Company Inc. |
(OTCQB: CNIKF | TSX-V: CNC) |
1:00 PM |
Aztec Minerals Corp. |
(OTCQB: AZZTF | TSX-V: AZT) |
1:30 PM |
Granite Creek Copper Ltd. |
(OTCQB: GCXXF | TSX-V: GCX) |
2:00 PM |
Group Ten Metals Inc. |
(OTCQB: PGEZF | TSX- V: PGE) |
2:30 PM |
Metallic Minerals Ltd. |
(OTCQB: MMNGF | TSX-V: MMG) |
3:00 PM |
Imperial Mining Group Ltd. |
(OTCQB: IMPNF | TSX-V: IPG) |
3:30 PM |
Defiance Silver Corp. |
(OTCQX: DNCVF | TSX-V: DEF) |
4:00 PM |
Orezone Gold Corp. |
(OTCQX: ORZCF | TSX-V: ORE) |
4:30 PM |
GoldSpot Discoveries Corp. |
(OTCQX: SPOFF | TSX-V: SPOT) |
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View original content: http://www.newswire.ca/en/releases/archive/July2021/22/c0213.html
On July 7, Energy Fuels Inc. made its first regular shipment of a rare earth carbonate called monazite from the United States to Europe.
The metal started in a mine in southern Georgia, then was shipped to a Utah processing plant and finally to a rare earth elements separation facility in Estonia.
The 20-ton shipment created a new U.S.-to-Europe rare earth supply chain, and is one of only two current U.S. operations producing and selling processed rare earth metals.
"We didn't even know we had a role to play in the industry until probably a year and a half ago," Curtis Moore, vice president of marketing and corporate development for Energy Fuels, told FreightWaves.
"We learned that there's this mineral called monazite, which is very high in magnetic rare earth elements — that's neodymium, praseodymium, dysprosium and terbium — which are the raw materials you need for these permanent rare earth magnets used in everything from electric cars to fighter jets."
Lakewood, Colorado-based Energy Fuels (NYSE: UUUU), a uranium mining company founded in 1987, is one of several companies making recent moves in the U.S. rare earth market. Another is Lynas Corp. (ASX: LYC), an Australian rare earths company, which recently received a $30.4 million federal grant to open the first rare earths separation facility in the U.S.
"We are currently in the planning phase for our proposed integrated U.S. rare earth processing facility, for both light rare earths and heavy rare earths processing and rare earth specialty materials," Lynas officials said in an email to FreightWaves.
Prior to Energy Fuels' shipment of monazite to Estonia, the U.S. had only one big operational rare earths mine, in Mountain Pass, California. Molycorp, which owned the mine and was the only rare earths producer in the country, went bankrupt and closed in 2015.
Last November, the U.S. Department of Defense supported the resumption of mining at Mountain Pass by funding $9.6 million to MP Materials, a private equity-backed company, to restart excavations. Once mined, the rare earth elements must be sent to China for processing.
Lynas hopes to alter that dynamic.
"Rare earth separation capability has been absent from the U.S. for several years, and our proposed facility will provide a secure, domestic source of high-quality separated rare earth materials," Lynas said.
The small Texas town of Hondo — where Lynas plans to build its separation facility — is 43 miles west of San Antonio. Lynas' proposed facility will receive rare earth processed "feedstock" from the company's Mount Weld mine in western Australia.
"We will follow proper processes and procedures before we finalize our construction plans. Once planning and permitting are completed, we expect the facility could be operational in 2-3 years," Lynas said.
The moves by Energy Fuels and Lynas Corp. come at a time when the Biden administration has made it a priority to rejuvenate the U.S. as a player in the production of rare earth materials, thereby reducing the reliance on China for critical rare earth supplies.
China has dominated mining and production of rare earth since the 1980s, accounting for 80% ($110 million) of U.S. imports in 2020, according to the U.S. Geological Survey.
Processed rare earth metals are a group of 17 elements used in almost all modern technology, including smartphones, X-ray machines, turbine blades, flat-screen TVs and computer monitors, hybrid and electric vehicles, along with U.S. military weapons such as guided-missiles and F-35 fighter jets.
Rare Earth Elements And Their Applications
Lanthanum |
Optical glass, hydride batteries |
Cerium |
Colored glass (flat-panel displays), auto catalytic converters |
Praseodymium |
Strong magnets, metal alloys, specialty glass, lasers |
Neodymium |
Permanent magnets |
Samarium |
Permanent magnets, nuclear reactor controls rods, lasers |
Europium |
Optical fibers, visual displays, lighting |
Gadolinium |
Shielding in nuclear reactors, X-ray and MRI systems |
Terbium |
Visual displays, fuel cells, lighting |
Dysprosium |
Permanent magnets, lighting |
Holmium |
Lasers, strong magnets, glass coloring |
Erbium |
Glass coloring, fiber optic cables |
Thulium |
Lasers, portable X-ray machines |
Ytterbium |
Stainless steel, lasers |
Lutetium |
Petroleum refining |
Yttrium |
Metal alloys, visual displays, lasers, lighting |
Scandium |
Metal alloys for aerospace equipment |
Promethium |
Portable X-ray devices, batteries |
Rare earth elements are actually not all that rare, they are just difficult and expensive to extract and process. They also need to be found in clusters dense enough to mine. There are an estimated 2.7 million metric tons of rare earth reserves in the U.S. and more than 15 million metric tons in Canada.
China is home to about 40% of the world's rare earth reserves (44 million metric tons), but more importantly has the technology and refining capacity to handle vast quantities of rare earth elements. That dominance creates security concerns for U.S. officials.
"Anything we can do to reduce the global/U.S. dependency of rare earth elements on China is a big deal," Prakash B. Malla, director of research and development at the Thiele Kaolin Co., told FreightWaves.
Sandersville, Georgia-based Thiele Kaolin is a mining and metals exporter that offers kaolin and silica products. Kaolin and silica can be used in paper, ceramics, plastics, paint manufacturing, food additives, and drugs and vitamins.
"In fact, we will want to have our own sources of these elements in the U.S. It is a national security issue," Malla said. "The lack of this would make us a hostage to China and other countries."
Besides China, other sources of rare earth imports for the U.S. in 2020 included Estonia, 5%, and Japan and Malaysia, at 4% each.
Ironically, the U.S. dominated rare earth mining and production for decades, spanning roughly from the 1940s to the late 1980s. One of the major reasons the U.S. outsourced rare earth processing to China was cost, according to several experts.
"Everything really came to an end in the 1980s, across all commodities, because ultimately China had arrived into the market with material that was obviously significant, vast amounts of material across all spectrums," said Lewis Black, president and CEO of Almonty Industries.
Almonty Industries is a Toronto-based global mining company focused primarily on tungsten mining. The company has mining operations in Spain, Portugal and South Korea.
"Cost was a factor, because obviously, the prices the Chinese offered were much lower in the 1980s than in the U.S. And most [U.S.] rare earth metal mining went out of business," Black said.
Black said another reason the U.S. government outsourced rare earth was that processes used throughout the 1940s to 1980s for getting the metals created harmful wastes.
"There was really no urge or enthusiasm to save the mining operations by the U.S. government because these operations, in terms of how they were operated from the 1940s and onward, there were no rules, they just needed the metals," Black said. "So you had all kinds of environmental issues and pollution of rivers and forests. It was a terrible, terrible time. Politically, there was no will to really save that industry."
Aaron Mintzes, senior policy counsel at environmental group Earthworks, said the U.S. still doesn't have the world's best record "when it comes to the regulation of hard rock mining."
"You can tell because of all the exemptions the mining industry enjoys from what we think of as our bedrock environmental laws that don't apply to hard rock mining," Mintzes said.
Some of the exemptions mining companies use are embedded in laws such as the Clean Water and the Resource Conservation and Recovery acts, the latter of which manages wastes, as well as other federal environmental laws, Mintzes said.
He also said there are organizations that work to create international supply chains in an environmentally and socially responsible manner.
"The Initiative for Responsible Mining Assurance (IRMA) is a third-party independent certification system for industrial scale hard rock mines, and soon for mineral processing and for exploratory mining as well," Mintzes said. "The reason why IRMA is different from other certification systems: Mining companies are on the board, labor people are on the board, indigenous people are on the board and mineral purchasers are on the board directing their suppliers to source more responsibly."
Raquel Dominguez, a policy associate at Earthworks, said instead of relying completely on mining, the U.S. could create a "circular economy" for rare earth metals by recycling batteries and focusing on new extraction techniques from existing waste.
"I think it's pretty obvious that in the long term, it makes a lot more environmental, fiscal, human-rights sense to not rely solely on just digging giant holes in the ground," Dominguez said. "It makes a lot more sense to put what we already have into some kind of recycling streams."
Lynas said its proposed plant in Texas, like the company's other global operations, will be designed to produce "ethical and environmentally-responsible products."
"Like other industrial operations, the process will produce by-products. The by-product material does not exhibit hazardous characteristics and will meet US standards," Lynas said.
Malla said recent investments by the U.S. government in rare earth mining — such as Lynas and Mountain Pass — are steps in the right direction.
"The U.S. needs to develop domestic sources of rare earths. Also, we invest in sustainable technologies for extraction, concentration and separation of rare earths," Malla said.
Once operational, Lynas' Hondo facility is expected to produce approximately 5,000 tons annually of light rare earths products, including 1,250 tons annually of the rare earth metals neodymium and praseodymium, which power some of the strongest types of rare earth magnets.
Lynas said the Hondo facility will serve the company's U.S. customers and "support the U.S. government's moves to strengthen the industrial base."
"U.S. industrial users currently source the vast majority of their materials from China producers. Lynas will provide these users with the option to source from a local producer," the company said. "Security of supply is an essential foundation for the renewal of downstream specialty metal making and permanent magnet manufacturing in the U.S."
Moore said Energy Fuels gets its sand ore from a mine in southern Georgia, which contains both the rare earth element monazite and naturally occurring uranium. The monazite sand ore is mined by Chemours (NYSE: CC), and is processed by Energy Fuels in Utah.
"The monazite has uranium and thorium in it. It has been widely recognized as being a very valuable rare earth mineral, but because it was radioactive, it was all going to China, until we came along," Moore said.
Energy Fuels is sending its shipments of rare earth carbonates to a separation facility owned by Neo Performance Materials Inc. (OTCMKTS: NOPMF) in Sillamäe, Estonia.
Moore said the carbonates Energy Fuels mine and process are not dangerous.
"We work with low-level natural radioactive materials, not highly enriched stuff or anything like that. We started processing this monazite at our White Mesa Mill facility in Utah. We were able to produce a nice, intermediate rare earth product, this carbonate," Moore said.
The sand ore mined in Georgia is sent to Energy Fuels' Utah mill to be processed for monazite and uranium. The shipments are picked up by trucks and taken to Salt Lake City. The container is then put on railcars and shipped to the Port of Norfolk in Virginia. Then it is loaded on an ocean vessel and sent to Estonia for separation. The total travel time is about 40 days.
Like Lynas, Energy Fuels is exploring opening a separation facility in the U.S. to cut down on shipping costs and optimize profits. The company has hired a French consulting group to help Energy Fuels explore how to proceed.
"It makes a lot of sense to perform as many refining steps in one location as possible. That way, you're not shipping material all over the place," Moore said. "We're planning to install as many of these steps as possible at the White Mesa Mill in Utah."
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Vancouver, British Columbia–(Newsfile Corp. – July 22, 2021) – Great Atlantic Resources (TSXV: GR) (FSE: PH02) has completed the second hole of its 2021 diamond drill program at its Golden Promise Gold property in Central Newfoundland, with visible gold evident in two quartz veins. The 100% owned Golden Promise Property is 1 of the company's 8 properties, which cover an area of 25,700 hectares, located within the central Newfoundland gold belt. This is a resumption of Phase 2 diamond drilling at the gold bearing Jaclyn Zone, located within the northern region of the Golden Promise Property, which hosts five gold bearing quartz veins systems, being the Jaclyn Main, Jaclyn North, Jaclyn South, Jaclyn East and Jaclyn West Zones.
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The current Phase 2 drilling will include up to 33 drill holes, totalling approximately 5,000 metres, at the gold bearing Jaclyn Zone with holes planned at the Jaclyn Main Zone and Jaclyn North Zone.
Drill hole GP-21-150, a definition hole, was drilled to a length of 111 metres, within the west region of the Jaclyn Main Zone between 2019 drill holes 138 and 143B, both of which had intersected high grade gold mineralization. Multiple quartz veins were intersected in GP-21-150. Visible gold is evident in a 0.30-meter long (core length) quartz vein intersected between 30.18 and 30.48 metres.
Drill core from GP-21-150 is currently being geologically logged and sampled at the company's secure facility in central Newfoundland prior to being submitted to a certified laboratory for gold assay and multi-element analysis.
Drilling is underway on the third hole GP-21-151, which also a definition hole in the western part of the Jaclyn Main Zone.
The objective of these holes and subsequent holes is to further define the zone and provide information for an updated resource estimate. Most of these holes are planned within the central to west region of the zone, testing above 200 metres vertical depth, with two holes planned in the east part of the Jaclyn Main Zone to test the zone at 200 to 350 metres vertical depth.
Great Atlantic confirmed high-grade gold at the Jaclyn Main Zone during 2019 drilling, including near surface intercepts of 113.07 g/t gold over 0.55 metres and 61.35 g/t gold over 2.04 metres, and 15.8 g/t gold over 2.70 metres, plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 grams per tonne gold over 25.25 metres. The planned drilling at the Jaclyn North Zone will further test the area east of historic drill holes including the area of an approximate 300-metre long zone of gold-bearing quartz vein boulders.
Three drill holes completed by the company during 2020 in this area intersected gold bearing quartz veins and extended the Jaclyn North quartz vein system approximately 260 metres east of historic drilling. The company collected gold bearing quartz boulder samples in this area during 2017, including samples returning 163, 208 and 332 g/t tonne and again in 2020 including samples returning 17.4, 26.7 and 157.6 grams per tonne gold.
The company reported a NI 43-101 compliant inferred resource estimate during late 2018 for the Jaclyn Main Zone of 357,500 tonnes at 10.4 grams per tonne gold for 119,000 ounces uncapped.
The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrane. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. at the Valentine Gold Project, Sokoman Minerals Corp. at the Moosehead Gold Project and New Found Gold Corp. at the Queensway Project.
Viewers are warned that mineralization at the Valentine Gold Project, the Moosehead Gold Project, the Queensway Project, and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization on the company's Golden Promise Property.
Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.
For more information, please visit the company's website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900 or email office@GreatAtlanticResources.com. For Investor Relations contact Andrew Job at 416-628-1560 or IR@GreatAtlanticResources.com.
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Lynas Rare Earths' (ASX:LYC) stock is up by a considerable 17% over the past month. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Particularly, we will be paying attention to Lynas Rare Earths' ROE today.
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
View our latest analysis for Lynas Rare Earths
Return on equity can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Lynas Rare Earths is:
1.8% = AU$17m ÷ AU$964m (Based on the trailing twelve months to December 2020).
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each A$1 of shareholders' capital it has, the company made A$0.02 in profit.
So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
As you can see, Lynas Rare Earths' ROE looks pretty weak. Even compared to the average industry ROE of 15%, the company's ROE is quite dismal. In spite of this, Lynas Rare Earths was able to grow its net income considerably, at a rate of 53% in the last five years. We reckon that there could be other factors at play here. Such as – high earnings retention or an efficient management in place.
We then compared Lynas Rare Earths' net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 29% in the same period.
Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Lynas Rare Earths is trading on a high P/E or a low P/E, relative to its industry.
In total, it does look like Lynas Rare Earths has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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(Reuters) – Lynas Rare Earths Ltd said on Thursday it got a A$14.8 million ($10.9 million) grant from Australia to commercialise a new mineral refining process that produces high-purity rare-earth carbonate.
The grant comes as nations worldwide look at ways to curb their reliance on China for the specialised minerals, which are used in a range of products including electric vehicles, smartphones and military equipment.
Lynas, the world's largest producer of rare earths outside China, said the new refining process would be used at its upcoming A$500 million processing facility in Kalgoorlie, Western Australia.
About half the cost of implementing the new process at Kalgoorlie will be met by the grant, which was made as part of the Australian government's Modern Manufacturing Initiative.
According to a government website https://business.gov.au/grants-and-programs/modern-manufacturing-initiative-manufacturing-integration, the initiative supports and co-funds projects to encourage linkages between local businesses and domestic and international firms.
Lynas said it could supply the rare-earth carbonate produced in Kalgoorlie to its plant in Malaysia and its proposed facility in the United States.
Shares of the company rose as much as 8.2% in their biggest intraday jump in five months.
($1 = 1.3604 Australian dollars)
(Reporting by Harish Sridharan in Bengaluru; Editing by Subhranshu Sahu)
VANCOUVER, British Columbia, July 22, 2021 (GLOBE NEWSWIRE) — HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”; OTC “HUDRF”) would like to provide an update on the niobium metallurgical program on the Company’s Nukittooq niobium-tantalum project and provide comments on the legislation being proposed for uranium extraction by the recently elected Government in Greenland.
Legislative Update
The Government of Greenland recently prepared a draft Bill to ban uranium prospecting, exploration, and exploitation. The draft Bill has been introduced to seek a zero-tolerance policy on the mining and sale of uranium. The ban does not cover other radioactive elements such as thorium, although the proposed Bill gives the Government the option to extend this to other radioactive elements. The draft Bill provides that it is at the Government’s discretion as to whether they approve a project based on how uranium waste is handled. Hudson is encouraged to see that Section 3.4 of the draft Bill states that the new Act would only apply to licenses granted after the Act is promulgated. The draft Bill specifically states that licenses already granted will not be affected by the new legislation. The Greenland government has initiated a consultation process which closes on August 2, 2021 and in which Hudson will participate.
Hudson’s Sarfartoq rare earth element (“REE”) project and Nukittooq niobium-tantalum project were granted an exploration license in 2020. The license does not provide any rights to radioactive elements. The work to date has shown that the Sarfartoq REE project does not contain elevated levels of uranium. The Nukittooq project does have uranium values above background levels and the Company will investigate how the uranium will be handled within Government guidelines. In addition, Hudson’s projects are not located near any communities in Greenland and therefore the Company believes that the development of these projects can be done safely and within government guidelines. The Company will continue to advance the Sarfartoq REE and niobium-tantalum projects which are vital in supporting the green economy in Europe and North America.
Hudson is pleased to see that the Greenland Government, through the Ministry of Mineral Resources, is now a member of the European Raw Material Alliance (“ERMA”). ERMA was established to support the European Union’s (“EU”) transition to a green economy with a focus on the critical raw materials which include REE’s, niobium and tantalum which are found on Hudson’s Sarfartoq license. ERMA (http://erma.eu) supports sustainable multi-sourcing of REE’s including world-class REE deposits in Greenland.
Niobium Testwork Update
Hudson engaged SGS Lakefield Canada to conduct an extensive metallurgical testwork program on the niobium samples collected from its high-grade Nukittooq niobium-tantalum project (see NR2021-1). The program has been making excellent progress and has been extended to include an additional series of flowsheet tests. Results are expected in the coming weeks. The next stage will be to define significant tonnage on this exceptionally high-grade project. We expect to initiate this field work in Q3.
Jim Cambon, President commented: “We believe that the proposed changes in the legislation as currently written will not impact our exploration projects in Greenland. We have built a strong working relationship with government and local communities and will engage in the consultation process. We are excited to continue to add value to our Nukittooq niobium-tantalum project while the increase in REE prices encourages us to further develop our Sarfartoq REE project which has over US$3B in neodymium and praseodymium defined to date. Hudson wishes to capitalize on Greenland’s strategic location between the EU and North America and advance its portfolio of critical metals to provide a secure supply chain to these regions.”
Hudson owns 100% of the Sarfartoq REE project and the high-grade Nukittooq niobium-tantalum project located on the Sarfartoq exploration license. The Sarfartoq REE project has a 43-101 resource outlining 35M kilograms of neodymium oxide and praseodymium oxide, the two key components in permanent magnets driving the green revolution. There is significant potential to expand this REE resource. The Nukittooq project has some of the highest reported niobium assays in the industry (see NR2020-15). Hudson also has a 31.1% equity interest in the White Mountain anorthosite mine in Greenland with rights to acquire 100%.
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim Cambon”
President and Director
For further information:
Ph: 604-628-5002
Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to complete the Offering on the terms or on the timeline as announced or at all, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, BC / ACCESSWIRE / July 21, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce it has completed the second hole (GP-21-150) of the 2021 diamond drilling program at its Golden Promise Gold Property, located in the central Newfoundland gold belt. The hole was completed at the Jaclyn Main Zone. Visible gold is evident in two quartz veins.
Quartz Vein with Visible Gold in GP-21-150
Drill hole GP-21-150 is a definition hole, drilled between drill holes GP-19-138 and GP-19-143B, both of which intersected high grade gold mineralization. GP-21-150 was drilled within the west region of the Jaclyn Main Zone (JMZ). It was drilled to a length of 111 meters. The current drilling is part of the Company's Phase 2 diamond drilling program at the gold bearing Jaclyn Zone. Drill core from GP-21-150 is currently being geologically logged and sampled at the Company's secure facility in central Newfoundland.
Multiple quartz veins were intersected in GP-21-150. Visible gold is evident in a 0.30-meter long (core length) quartz vein intersected at 30.18-30.48 meters and within quartz veined zone intersected at 75.75-76.58 meters (core length). Drill core samples from GP-21-150 will be submitted to a certified laboratory for gold assay and multi-element analysis.
Drilling is underway on the third hole GP-21-151, which also a definition hole in the western part of the JMZ.
The current Phase 2 drilling will include up to 33 drill holes at the gold bearing Jaclyn Zone with holes planned at the JMZ and Jaclyn North Zone with total planned drilling of approximately 5,000 meters. The objective of drilling at the JMZ is to further define the zone and provide information for an updated resource estimate of the JMZ. The Company is continuing the drill hole numbering system from previous drilling programs. Most of the planned holes at the JMZ are within the central to west region of the zone, testing above 200 meters vertical depth. Two holes are planned in the east part of the JMZ to test the zone at 200-350 meters vertical depth.
Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold – uncapped).
The Company confirmed high-grade gold at the JMZ during 2019 drilling, including near surface intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters, 61.35 g/t gold over 2.04 meters and 15.8 g/t gold over 2.70 meters plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 g/t gold over 25.25 meters.
Quartz Vein with Visible Gold in GP-21-149
The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV:SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV:NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization the Golden Promise Property.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
Investor Relations:
Andrew Job
1-416-628-1560
IR@GreatAtlanticResources.com
Office Line: 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/656386/Great-Atlantic-Second-Drill-Hole-Completed-Two-Veins-Intersected-Both-Contained-Visible-Gold
BRISBANE, Australia, July 21, 2021 (GLOBE NEWSWIRE) — Orocobre Limited (TSX: ORL) (ASX: ORE) –
Olaroz Lithium Facility (Olaroz) operations continue to deliver improving cashflows with a Gross Cash Margin of $4,371/tonne following further improvement in the sales price of lithium chemicals and a continued focus on costs.1 Realised average price was US$8,476/tonne up 45% quarter on quarter (QoQ) on a free on board basis (FOB2) with prices up 170% over the past nine months. Costs were US$4,105/t3. The proportion of battery grade production reached a record level at 66%. Market conditions continue to improve which is reflected in increasing price forecasts by analysts and industry commentators.
OLAROZ LITHIUM FACILITY (ORE 66.5%)4
Activities continue to focus on the health and well-being of our staff, contractors and communities while maintaining production and expansion works with no COVID-19 related stoppages during the period. Approximately 60% of the operational workforce has now had their first dose of a vaccine
Production of 3,300 tonnes was up 31% on the previous corresponding period (PCP) and up 2% QoQ, despite the proportion of battery grade production increasing to 66% from 55% QoQ
Sales volume of 2,549 tonnes was up 59% on PCP, but down 16% QoQ due to global shipping delays and the requirement to hold additional stock in Japan to guarantee smooth delivery into the Prime Planet Energy and Solutions (PPES) contract
Sales revenue was up 22% QoQ to US$21.6 million with the realised average price achieved up 45% QoQ to US$8,476/tonne FOB2. Prices have now increased by nearly 170% over the last nine months
Cash costs (on a cost of goods sold basis)3 were up 5% to US$4,105/tonne on PCP excluding the export tax of US$407/tonne with proportional sales of battery grade material nearly doubling over that period
Gross cash margin was up materially to US$4,371/t, generating a gross margin of 52%
In the upcoming half, a proportion of sales will be into contracts that were agreed in December 2020 reflecting prices of that time. The average price in the December half will reflect improved market conditions partially offset by lagged pricing and will be approximately US$9,000/tonne FOB2 subject to shipping and delivery schedules
LITHIUM GROWTH PROJECTS
During the June quarter work at Olaroz Stage 2 continued with strong adherence to the COVID-19 Bio-Security Protocol. At the end of June, most infrastructure is complete, nearly 80% of ponds are built and soda ash and carbonation plants are 10% and 14% complete respectively. Additional accommodation facilities were completed in the quarter with over 650 personnel on site
Stage 2 is expected to be complete in H1 CY22 and to commence production the following half. Production will ramp up over two years to full capacity of 25,000 tonnes per annum (ktpa) of primary grade lithium carbonate by H2 CY24
Naraha site operations have continued throughout the period with construction now mostly complete and pre-commissioning works underway. Commissioning will be delayed until Q1 CY22 due to COVID-19 related delays of travel to site by Veolia’s international commissioning engineers and technicians
A scoping study into a further expansion at Olaroz (Stage 3) has commenced. The study will investigate options for additional production of 25-50ktpa from Olaroz, Cauchari or a combination of both, leveraging existing Stage 1 and 2 infrastructure
Discussions continue with Toyota Tsusho Corporation (TTC) regarding an expansion of lithium hydroxide production to meet forecast growth in demand
_______________
1 All figures presented in this report are unaudited
2 Orocobre report price as “FOB” (Free On Board) which excludes insurance and freight charges included in “CIF” (Cost, Insurance, Freight) pricing. Therefore, the Company’s reported prices are net of freight (shipping), insurance and sales commission. FOB prices are reported by the Company to provide clarity on the sales revenue that is recognized by SDJ, the joint venture company in Argentina
3 Excludes royalties, export tax and corporate costs
4 All figures 100% Olaroz Project basis
BORAX ARGENTINA
Overall sales volume for the June quarter was 11,188 tonnes, up 9% QoQ and down 9% on PCP
Sales revenue was down 5% QoQ due to lower average prices that were down 13% QoQ due to sales mix
CORPORATE
On 19 April 2021, Orocobre and Galaxy Resources (ASX:GXY, “Galaxy”) announced that they entered into a binding Merger Implementation Deed (MID) under which the two companies will merge via a Galaxy Scheme of Arrangement (Scheme) pursuant to which Orocobre will acquire 100% of the shares in Galaxy
Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held at the Scheme record date. Upon implementation of the Scheme, Orocobre shareholders will own 54.3% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.7%
The Scheme booklet was dispatched to Galaxy shareholders on 7 July 2021 and the Scheme meeting for Galaxy shareholders will be held on 6 August with Scheme implementation expected on 25 August
At 30 June 2021, Orocobre corporate had available cash of ~US$238.3 million of which US$11.1 million and US$109.5 million have been set aside as pre-completion guarantees for the Naraha debt facility and Olaroz Expansion debt facility respectively
Including Sales de Jujuy (SDJ) and Borax cash and project debt, net group cash at 30 June 2021 was US$68.1 million, down from US$97.7 million at 31 March 2021
OLAROZ LITHIUM FACILITY
Click here for more information on Olaroz
SAFETY AND COVID-19
During the June quarter the team continued preventive actions to manage any impact from ongoing infections across the country with our first and most effective barrier remaining a strong Bio-Security Protocol. Local communities and including our employees are currently being vaccinated in cooperation with the local Susques hospital. Approximately 60% of the workforce (including contractors) have now been vaccinated with their first dose.
Daily monitoring of the workforce health continues throughout 14 day rosters that apply to all personnel and include those employees who would normally reside in local communities.
Additional accommodation facilities have been installed to enable the growing construction workforce to operate within the COVID-19 Bio-Security Protocol.
Improved safety performance was achieved during FY21 with a TRIFR of 2.3 (FY20: 3.0). By 30 June Olaroz Lithium Facility achieved 124 days without an LTI.
OPERATIONAL UPDATE
QUALITY
Product quality remains a key focus of the operational team. Key metrics such as brine concentration, magnetic particles and product consistency continue to show positive results.
PRODUCTION
Production for the June quarter was 3,300 tonnes, up 31% from 2,511 tonnes in the PCP with 66% of production being battery grade lithium carbonate. Brine concentration remains at higher levels than in recent years resulting in high daily production rates, higher plant recovery and continued low costs.
SALES AND COMMERCIAL
Product sales were 2,549 tonnes of lithium carbonate up 59% on PCP but down 16% QoQ due to global shipping delays and the requirement to hold additional stock in Japan to guarantee smooth delivery into the PPES contract.
Total sales revenue was up 22% QoQ to US$21.6 million and up 245% on PCP which was affected by initial COVID-19 disruptions. The average price received was up 45% QoQ to US$8,476/tonne on an FOB3 basis and up 117% on PCP with significantly stronger pricing relative to a year ago.
In the upcoming half, a proportion of sales will be into contracts that were agreed in December 2020 reflecting prices of that time. The average price in the December half will reflect improved market conditions partially offset by lagged pricing and will be approximately US$9,000/tonne FOB2 subject to shipping and delivery schedules.
More than 50% of forecast sales for the September 2021 quarter are expected to be allocated to long term battery grade contracts. The percentage of battery grade product sales is expected to remain above 50% during FY22.
COSTS/MARGINS
Cash cost of goods sold for the quarter (including COVID-19 related costs) increased by only 5% on PCP to US$4,105/tonne3 despite the proportion of battery grade sales nearly doubling. This excludes export duties for the quarter of US$407/tonne. Costs increased by 6% QoQ with the proportion of battery grade sales increasing from 47% to 57% QoQ.
Total cost of sales has been maintained at low levels demonstrating the significant focus and reduction of fixed cost within the operating business. Lower reagent usage due to improved process efficiency and an increase in the export incentive refund with higher product prices have also contributed to the strong cost performance.
Gross cash margins for the quarter returned to being strongly positive at US$4,371/tonne, this is expected to remain positive with supportive pricing in Q1 FY22.
STAGE 2 EXPANSION AT OLAROZ
PROJECT STATUS
During the June quarter work at Olaroz Stage 2 continued with strong adherence to the COVID-19 Bio-Security Protocol. Additional accommodation facilities were completed with more than 650 personnel on site. Most infrastructure is now complete, nearly 80% of ponds are built and the soda ash and carbonation plants are 10% and 14% complete respectively.
Stage 2 is expected to be complete in H1 CY22 and to commence production the following half. Production will ramp up over two years to full capacity of 25ktpa of primary grade lithium carbonate by H2 CY24.
CARBONATION, LIME AND SODA ASH FACILITIES
Carbonate plant soda ash handling facilities construction continued during the quarter with some delays due to COVID-19, bad weather and high winds. Mitigation actions have been identified to minimise any disruption to the schedule. Foundations for the soda ash and carbonation buildings are 91% and 65% complete respectively. All of the steel structure for the carbonation and soda ash plants is on site including cladding, roofing and overhead cranes.
Planning for liming plant #3 is well underway and contracts have been awarded. This additional liming capacity is expected to be available by the end of the year.
FUTURE MILESTONES
Work in H2 CY21 will focus on delivery of additional gas fired power generators, completion of ponds and construction of liming plant #3. In the first half of CY22 all new production wells, soda ash facilities and the carbonation plant will be completed.
NARAHA LITHIUM HYDROXIDE PLANT
PROGRESS TO DATE
The Naraha Plant, the first of its kind to be built in Japan, is designed to convert primary grade lithium carbonate feedstock into battery grade lithium hydroxide. Feedstock for the 10 ktpa Naraha Plant will be sourced from the Olaroz Lithium Facility’s Stage 2 Expansion that will produce primary grade (>99.0% Li2CO3) lithium carbonate.
Since construction commenced at the Naraha Plant there have been no LTIs recorded with nearly 250,000 hours worked on the project.
At 30 June, approximately US$56.7 million has been spent on engineering, civil works, electrical, instrumentation, fabrication and procurement at the Naraha Plant. Capex spend has remained relatively static due to the agreed payment schedule with Veolia, the EPC contractor.
Site operations have continued throughout the period with construction now mostly complete and pre-commissioning works underway. Commissioning will be delayed until Q1 CY22 due to COVID-19 related delays of travel to site by Veolia’s international commissioning engineers and technicians.
SHARED VALUE PROGRAM AND COMMUNITY
The Shared Value team built on their knowledge of local communities and sustainability with a combination of remote work and a number of visits to communities that are directly and indirectly influenced by the company’s operations. Key actions during the quarter included:
Community Relations
Management of work rosters within COVID-19 limitations: Communication with Community Coordinators, local government contacts and local suppliers to manage and confirm the date and location of PCR sample collection (COVID-19 tests) and the transfer schedules for rostered employees
The Shared Value team accompanied provincial officials in the re-commissioning of the Autonomous Photovoltaic Power Plant in Olaroz Chico, which supplies solar electricity to the town. The system capacity has tripled from 50 Kw to 150 Kw. The Shared Value team also participated in the inauguration ceremony of a modular community health centre. The hospital unit has an inpatient ward, pharmacy, laboratory, cardiology area and consulting rooms
During the month of June, on-site monitoring and follow-up of activities were carried out with local suppliers of laundry services with the aim of strengthening links and encouraging open dialogue
Construction of Liming Plant N° 3 has been awarded to a local joint venture. It has also been determined that external civil works and HDPE pipe laying will be quoted only with suppliers from the local community
Community development programs
Program to Support Food Independence: Family Food Production Units UPAF
During the quarter, the communities continued harvesting vegetables for the spring-summer season with very good yields; information on production and temperature data continues being collected. The families began preparing the land for sowing of autumn-winter vegetables. The community of Olaroz Chico has completed the construction of their greenhouses and will start planting seedlings. In Coranzulí, the work of the families extended to school greenhouses managing cultural work and planting. The programme was expanded to the production of laying hens to provide animal protein for the families' diets.
Community Investment Programme
The work planned for this period with the Coranzuli Community Hall is 80% complete with an investment of US$25,000. The community values the delivery of the commitment considering the COVID19 context made it difficult to manage the implementation of this initiative.
MARKET
Demand
Demand for lithium chemicals remained strong across all key geographies and customer segments (industrial applications and battery materials) in response to improved business confidence levels.
Customers’ concerns for securing supply also intensified during the June quarter as evidenced by enquires for delivery of volumes in 2021 being higher than originally requested. Existing and prospective customers have also engaged earlier than usual to secure product volumes for future years.
Lithium chemical prices continued to grow during the quarter with strong demand from the Electric Vehicle (“EV”) sector where sales in the period January to May reached two million vehicles (compared to 750k in 2020 and 850k in 2019 over the same months).
Whilst lithium carbonate prices stabilised in China, global weighted average prices reported by Benchmark Minerals increased by 15.6% during the quarter from US$10,752/tonne in March to US$12,432/tonne in June as prices ex- China continued rising and narrowing the gap with China. Lithium Hydroxide prices once again established a premium over carbonate prices during the June quarter with weighted average prices of US$13,873/tonne as reported by Benchmark Minerals.
The commitment from Government, OEMs, and the Energy Sector to accelerate the development of the lithium battery supply chain grew firmly during the June quarter. Planned global capacity of Gigafactory’s increased by ~ 460 GWh (12%) to approximately 4,200 GWh by 2030 based on committed investments announced during the June quarter. Such indicators continue to put pressure on development of lithium chemical supply and widen the estimated supply deficit.
Supply
Estimated lithium chemical production and conversion in China increased to ~20,500 tonnes of lithium carbonate per month during the June quarter from ~14,500 tonnes per month during the preceding nine months. Lithium hydroxide capacity over the same periods increased to ~14,500 tonnes per month from ~12,300 tonnes per month. The overall increase in production of lithium chemicals was in response to the accelerated demand from the EV sector and was partially achieved with incremental supply from Chinese brines during the spring period which assisted in stabilising lithium carbonate domestic prices. Australian spodumene producers also lifted utilisation rates and exports to China benefitting from a significant increase in prices during the period.
New partnerships were established between lithium chemical producers and lithium mineral explorers with the purpose of developing additional supply of lithium chemicals in response to growing demand. Supply forecasts of lithium chemicals have been revised up during the quarter considering recent announcements, however, it continues to fall short of meeting the revised estimates of demand.
BORAX ARGENTINA S.A.
SAFETY
Following a major focus on safety, TRIFR for FY21 has improved to 2.6 from 8.8 in FY20.
Since the safety review last year there have not been any LTI or Environmental incidents at the three operational Borax sites. As at 30 June, Sijes celebrated one year without recordable incidents, Tincalayu achieved 350 days and Campo Quijano has had 309 days without an LTI.
Good progress has been achieved with recycling waste where a new agreement with an external company was signed to utilise some of this material. The first shipment occurred in May with 23 tons of scrap metal and one tonne of batteries. A further shipment occurred in June with five tonnes of plastic material.
The COVID-19 Bio-Security Protocol remains in place at Borax and approximately 40% of employees are now vaccinated with at least one dose.
Intelex is currently being implemented in Borax which will improve reporting, investigation and tracking of corrective actions related to adverse events. The Management team has been trained in leading indicators and KPI objectives were set for FY22. Some of the Dupont initiatives implemented in SDJ are being considered for implementation at Borax.
PRODUCTION, SALES AND OPERATIONAL UPDATE
June quarter sales were 11,188 tonnes, up 9% QoQ and down approximately 9% from the PCP. Total sales revenue was down 5% QoQ with the average price received down 13% QoQ due to lower sales of chemicals and higher sales of lower priced mineral products. Operations have continued under the Orocobre Bio-Security Protocol.
CORPORATE AND ADMINISTRATION
MERGER WITH GALAXY RESOURCES
On 19 April 2021, Orocobre and Galaxy Resources (ASX:GXY, “Galaxy”) announced that they entered into a binding Merger Implementation Deed (MID) under which the two companies will merge via a Galaxy Scheme of Arrangement (Scheme) pursuant to which Orocobre will acquire 100% of the shares in Galaxy.
Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held at the Scheme record date. Upon implementation of the Scheme, Orocobre shareholders will own 54.3% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.7%.
The Scheme is unanimously recommended by the Board of Galaxy and each Galaxy Director intends to vote all the shares that they hold in Galaxy in favour of the Scheme (in both cases, subject to no superior proposal emerging and the Independent Expert continuing to conclude that the Scheme is “fair and reasonable” and in the best interests of Galaxy shareholders).
The Scheme is endorsed and supported by the Board of Orocobre, subject to no proposal for Orocobre emerging.
As part of the proposed Scheme, Martin Rowley will become Non-Executive Chairman, Robert Hubbard will become Deputy Chairman, and Martín Pérez de Solay will remain CEO and Managing Director of the merged group, with a highly experienced and complementary Board and management team drawn from the combined group.
The First Hearing in the Supreme Court of Western Australia was conducted on 2 July 2021 and the Court made orders to convene a meeting of Galaxy shareholders to consider and vote on the Scheme and to dispatch an explanatory statement along with the Scheme booklet.
Subsequently, the Scheme booklet was dispatched to Galaxy shareholders on 7 July 2021 and the Scheme meeting for Galaxy shareholders will be held on 6 August.
FINANCE
CASH BALANCE
At 30 June 2021, Orocobre corporate had available cash of ~US$238.3 million of which US$11.1 million and US$109.5 million have been set aside as pre-completion guarantees for the Naraha debt facility and Olaroz Expansion debt facility respectively.
The US$3.3 million corporate net cash reduction from the previous quarter was the result of US$0.7 million advanced to SDJ Joint Venture as a shareholder loan to largely fund finance payments, US$2.5 million corporate costs and US$0.2 million other project payments partially offset by US$ 0.1 million of net interest income and forex.
Including SDJ and Borax cash and project debt, net group cash at 30 June 2021 was US$68.1 million, down from US$97.7 million at 31 March 2021 due to drawdown of project finance for the Olaroz Stage 2 expansion and Naraha project payments.
ARGENTINA ECONOMIC CONDITIONS
Currency: The official foreign exchange rate depreciated by 4% in the June quarter from AR$92 at 31 March 2021, to AR$95.72 at 30 June 2021. The accumulated 12-month period from 1 July 2020 to 30 Jun 2021 resulted in a ~36% devaluation of the AR$ against the US$.
Inflation: June inflation was 3.2% and accumulated ~11% in the quarter. The accumulated 12-month period from 1 July 2020 to 30 Jun 2021 resulted in inflation of approximately ~50%.
Authorised by:
Rick Anthon
Joint Company Secretary
FOR FURTHER INFORMATION PLEASE CONTACT:
Andrew Barber
Chief Investor Relations Officer
Orocobre Limited
P: +61 7 3720 9088
M: +61 418 783 701
E: abarber@orocobre.com
W: www.orocobre.com
Vancouver, British Columbia–(Newsfile Corp. – July 20, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth"), announces it has shifted its license portfolio in both the Atacama and Ollague Projects. This shift was conducted to best reflect management's conversations with local stakeholders, geological prospectivity and to position the Company for easier future permitting efforts.
Atacama Project
Wealth Minerals has tailored its license footprint in the Atacama Salar. The Company has reconfigured its original 46,200 hectares license package. The Company has moved away from licenses which have low prospectivity for shallow brines, as determined by past geophysical work by the Company. Additionally, the Company no longer has licenses which cover the Laguna Cejar, a topographical feature important to local indigenous peoples. Wealth notes that the new license hectares package contain the best geophysical anomalies for potential shallow and deep brine recovery.
Management believes this move is in the best interests of the Company and local stakeholders, and Management anticipates that future permitting work from various Chilean agencies, Company dialog with local indigenous peoples, and total license holding costs will be eased due to this corporate action.
Additionally, the Company has expanded its license footprint in the east of the Atacama Salar next to Highway 23, previously referred to as the "Harry Project" (see press release February 11, 2019). The original Harry Project was 7,900 hectares, to which has been added 3,500 hectares. The Company has entered into an arm's length property purchase agreement for the acquisition of this additional 3,500 hectares license position (the "Harry Agreement"). Upon approval, the Company will issue 1,290,000 common shares of Wealth to the vendor. Completion of the Harry Agreement is subject to acceptance by the TSX Venture Exchange.
In total, the entire Wealth Minerals' claim portfolio in the Atacama Salar is 46,200 hectares, which is the same as the original position acquired by Wealth, and is a major position on par in size with state-company CORFO, which currently hosts Sociedad Quimica y Minera de Chile (SQM) and Albemarle Corporation who collectively account for a fourth of global lithium production here.
The Company has superimposed its geophysical work onto the license map (below in Maps 1 and 2). The geophysical data identified very high conductivity (very low resistivity) zones (as denoted by pink and red colors), which are interpreted to represent porous media with high-salinity fluids (potentially lithium-bearing brines).
Updated License Map 1, Deep Anomaly (approximately 800m below surface)
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4437/90691_figure1.jpg
Updated License Map 2, Shallow Anomaly (approximately 100m below surface)
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4437/90691_figure2.jpg
Ollague Project
The Ollague Salar (previously referred to as "Vapor") is in northern Chile (see press release February 11, 2019) and the Company has added to its existing claim portfolio an additional 2,100 hectares for a total of 6,420 hectares. The Company has entered into an arm's length property purchase agreement (the "Ollague Agreement") for the acquisition of this additional 2,100 hectares license position. Upon approval, the Company will issue 1,210,000 common shares of Wealth to the vendor. Completion of the Ollague Agreement is subject to acceptance by the TSX Venture Exchange.
Recent drilling activity by a peer company in the area returned lithium grades up to 480 Li mg/l. Readers are cautioned that the properties held by a peer company are adjacent properties and that Wealth has no interest in or right to acquire any interest in any part of the properties and that mineral deposits on adjacent or similar properties are not in any way indicative of mineral deposits on Wealth's position in the Ollague Salar.
Wealth has interpreted past geophysical work to identify shallow zones of very low electric resistivity (Map 3), which are the most obvious targets for lithium bearing brines to be tested with drilling (see press release of February 28, 2019).
Map 3, Ollague License Area with Pink Color Highlighting Interpreted Area of Shallow Anomaly (less than 400m below surface) Showing Resistivity Less than 1 ohm.m
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4437/90691_64a499c4e4f4babf_006full.jpg
Hendrik van Alphen, CEO of Wealth, commented: "Our Company has a fantastic asset portfolio in Chile and we have analyzed and acted the best way to create value for our shareholders while taking into account the interests of our wider range of stakeholders. I look forward to updating you on our progress."
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico and Chile. The Company's main focus is the acquisition and development of lithium projects in South America. To date, the Company has positioned itself to work alongside existing producers in the prolific Atacama salar, where the Company has a substantial license package.
Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.
For further details on the Company readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
"Hendrik van Alphen"
Hendrik van Alphen
Chief Executive Officer
For further information, please contact:
Marla Ritchie
Phone: 604-331-0096 Ext. 3886 or 604-638-3886
E-mail: info@wealthminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, anticipated exploration program results from exploration activities, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves, the closing and amount of the Placement, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including acceptance by the TSX-V, required for the Placement, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90691
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
MIRAMICHI, New Brunswick, July 19, 2021 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (TSXV: SXL) (the “Company”) announces that it has closed the previously announced private placement and it has issued 3,299,731 flow-through units (the “FT Units”) at a price of $0.09 per FT Unit for gross proceeds of $296,975.79 (the “Private Placement”). Each FT Unit is comprised of one common share in the capital of the Company issued on a “flow-through” basis and one-half of one common share purchase warrant issued on a non-flow-through basis (with two half common share purchase warrants being a “Warrant”). Each Warrant will entitle the holder thereof to acquire one non-flow-through common share at a price of $0.10 for a period of 24 months from the date of closing. The FT Units are subject to a four-month and one day hold period that expires on November 16, 2021.
Three insiders of the Company participated in the Private Placement and subscribed for an aggregate of 1,611,110 FT Units; the transaction is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to the Insiders do not exceed 25% of its market capitalization.
The Company has paid $10,567 cash and issued 53,150 non-flow-through units (“NFT Units”) with each NFT Unit being comprised of one common share and one Warrant that is exercisable to purchase one additional common share at a price of $0.10 for a period of two years to qualified parties.
Proceeds received from the FT Units will be used to fund exploration on SLAM's gold and base metal projects in Canada with the main focus on the Menneval gold project in New Brunswick.
For additional information call Mike Taylor at 506-623-8960.
About SLAM Exploration Ltd:
SLAM is a project-generating resource company focused on is its flagship Menneval Gold project where the 2021 trenching program is underway. The Company intends to conduct preliminary prospecting and geochemistry on the Gold Brook, Birch Lake gold, Wilson gold and Ramsay gold projects in the vicinity of the Millstream Break in northern New Brunswick. SLAM also expects to conduct preliminary programs on the Jake Lee, Mount Victor and other gold properties on the flanks of the Sawyer Brook and Wheaton Bay faults in southern New Brunswick. SLAM owns the Reserve Creek, Opikeigen and Miminiska gold projects in Ontario and the Mount Uniacke gold project in Nova Scotia. The Company owns a portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) that is subject to an option agreement. SLAM holds NSR royalties on the Superjack, Nash Creek and Coulee zinc‐lead‐copper‐silver properties in the BMC.
Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION: |
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Mike Taylor, President & CEO |
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Contact: 506-623-8960 mike@slamexploration.com |
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Eugene Beukman, CFO |
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Contact: 604-687-2038 ebeukman@pendergroup.ca |
SEDAR: 00012459E |
ROUYN-NORANDA, Quebec, July 19, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, L&S Exchange, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has optioned the 77-hectare, Eagle Gold Mine property located in Joutel township, Quebec to Maple Gold Mines Ltd.
Under the agreement, Maple has the option to pay $1,200,000, half in cash and half in shares, over a 5-year period to Globex and undertake $1,200,000 in exploration over 4 years in order to earn 100% interest in the Eagle Gold Mine property. The terms of the option are the following:
Anniversaries |
½ Cash, ½ Shares |
Work |
Comment |
|
On Signing |
$100,000 |
– |
Firm |
|
At 6 months |
$100,000 |
– |
Firm |
|
At 12 months |
$100,000 |
$200,000 |
Work Expenditure Firm by Month 12 |
|
At 18 months |
$125,000 |
– |
||
At 24 months |
$125,000 |
$300,000 |
||
At 36 months |
$150,000 |
$300,000 |
||
At 48 months |
$200,000 |
$400,000 |
||
At 60 months |
$300,000 |
– |
Globex will retain a 2.5% Gross Metal Royalty (GMR) of which 1% GMR may be purchased by Maple prior to commercial production for $1,500,000.
The Eagle Gold Mine adjoins the historic Telbel Gold Mine which together are reported to have produced 6,168,773 t grading 6.57 g/t Au. Historical resources at the Eagle Mine property are estimated at 277,710 t grading 5.83 g/t Au. (Source: SIGÉOM –Cogite number: 32E/08-0005).
Globex continues to hold a large package of claims in Joutel and adjoining Valrennes townships including the historic copper/zinc Poirier Mine which has reported production of 4,670,000 T grading 2.22% Cu and 748,000 T grading 5.58% Zn. A historical resource of 1,400,863 T grading 1.24% Cu and 9.77% Zn in the West and Q Zones, 300,000 T grading 8.05% Zn in the East lens and 534,000 T grading 2.5% Cu in the Main Zone are reported in a 1990 report by Bharti Engineering Associates Inc.
In addition, Globex owns the Joutel Copper Mine which produced 1,167,000 t grading 2.16% Cu between 1967 and 1975 and 372,400 t grading 8.88% Zn from 1972 and 1975 (Source: Dubé, 1993 – ET-90-12). In 1994, Aur Resources Inc. estimated a historic resource of 242,800 t grading 10.37% Zn (Source: Martin and Britt, 1994 – internal report, project # 16706). Globex also owns the Eagle Northwest property consisting of 11 kilometres of the Eagle /Telbel gold localizing horizon extending northwest from just beyond the Eagle Mine, and the historic Gagné mineralized area, located south of the Eagle Northwest property, where trench samples are reported to have returned 0.79 oz./t Au over 5 feet (27.09 g/t Au over 1.52 m), 0.44 oz./t Au over 5 feet (15.09 g/t Au over 1.52 m) and 0.52 oz./t Au over 5 feet (15.09 g/t Au over 1.52 m) (Source: Parent, 1981 – GM37949), and finally the Joutel P5 mineral occurrence where drill hole KR-96-08 returned a 2.21 metre intersection grading 7.86% Cu, 72.2 g/t Ag and 0.31 g/t Au (Source: Caillé, 1996 – GM54483).
The resources described above are historical and should not be relied upon. A qualified person has not done sufficient work for Globex to classify the historical estimates as current mineral resource under National Instrument 43-101 and CIM Standards for mineral resources and reserves.
This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
We Seek Safe Harbour. |
Foreign Private Issuer 12g3 – 2(b) |
CUSIP Number 379900 50 9 |
|
For further information, contact: |
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Jack Stoch, P.Geo., Acc.Dir. |
Tel.: 819.797.5242 |
Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements.” These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.
VANCOUVER, BC, July 19, 2021 /CNW/ – The following issues have been halted by IIROC:
Company: Jervois Mining Limited
TSX-Venture Symbol: JRV
All Issues: Yes
Reason: At the Request of the Company Pending News
Halt Time (ET): 7:45 AM
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
View original content: http://www.newswire.ca/en/releases/archive/July2021/19/c5422.html
FRANKLIN, Ind., July 19, 2021 (GLOBE NEWSWIRE) — IBC Advanced Alloys (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”), a leading beryllium and copper advanced alloys company, was pleased to host U.S. Congressman Trey Hollingsworth (R-9th-Ind.) on a recent tour of IBC's expansion and consolidation project now underway at its copper alloys plant in Franklin, Ind.
Rep. Hollingsworth, who represents Franklin in the U.S. Congress, has been very supportive of IBC and the Franklin plant, where workers manufacture a variety of copper-based alloy components for use in commercial and defense industries.
Front-page news media coverage of the Congressman's visit in the Franklin Daily Journal can be seen here.
“This is such great news to see, you know, the excitement here, the energy here, and obviously the continued investment here,” Rep. Hollingsworth said.
IBC is working to complete work on a $5.5 million, 32,000-square-foot expansion of the Franklin plant. The project will allow the Company to consolidate current copper foundry operations at a plant in Pennsylvania into the Franklin plant. This expansion/consolidation project is expected to expand IBC's manufacturing capabilities as well as generate significant fixed cost savings.
“The modernization and consolidation project is proceeding well, and we are very grateful for Congressman Hollingsworth's continuing interest in and support of IBC's operations,” said Mark A. Smith, CEO and Chairman of IBC. “This project will help power a new era of growth and opportunity for IBC's copper alloys division, and I am excited about the prospects for greater efficiencies, cost savings, and enhanced sales that this project should enable.”
For more information on IBC and its innovative alloy products, go here.
On Behalf of the Board of Directors:
"Mark A. Smith”
Mark A. Smith, CEO & Chairman of the Board
CONTACTS:
Mark A. Smith, Chairman of the Board
Jim Sims, Investor and Public Relations
IBC Advanced Alloys Corp.
+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF
ABOUT IBC ADVANCED ALLOYS CORP.
IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Alloys Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials Division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC's has production facilities in Indiana, Massachusetts, and Pennsylvania. The Company's common shares are traded on the TSX Venture Exchange under the symbol “IB” and the OTCQB under the symbol “IAALF”.
CAUTIONARY STATEMENTS
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this communication. This disclosure contains forward-looking statements, including the Company's expectation that it will successfully complete the Franklin facility expansion and consolidation, and that such expansion / consolidation will result in as much as $3 million in savings in the years following the project's completion. Although IBC believes that the expectations reflected in these forward-looking statements are reasonable, forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statement. The forward-looking statements made by the Company in this communication are based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. As a result, we cannot guarantee that any forward-looking statement will materialize, and we caution you against relying on any of these forward-looking statements. IBC makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in IBC’s filings at www.sedar.com.
VANCOUVER, British Columbia, July 19, 2021 (GLOBE NEWSWIRE) — Mr. Ashwath Mehra reports that ASTOR Management AG, a company that he controls, purchased on July 16, 2021 6,668,000 common shares (“Common Shares”) of Fancamp Exploration Ltd. (“Fancamp”) through the TSX Venture Exchange at $0.125 per share for total consideration paid of $833,500.
The purchase of 6,668,000 Common Shares represents Mr. Mehra’s acquisition of beneficial ownership and control of an additional 3.8% of the outstanding Common Shares. Immediately prior to the purchase of the Common Shares, Mr. Mehra had beneficial ownership and control of 24,750,000 Common Shares, representing 14.0% of the outstanding Common Shares. Mr. Mehra currently has beneficial ownership and control of 31,418,000 Common Shares, representing 17.8% of the outstanding Common Shares.
Mr. Mehra has acquired the Common Shares for investment and may acquire additional Common Shares or dispose of Common Shares (through market or private transactions) from time to time.
A copy of the related early warning report may be obtained from the SEDAR website (www.sedar.com) or from Mr. Mehra by telephone at +41 41 544 5100.
The head office of Fancamp is 7290 Gray Avenue, Burnaby, BC, V5J 3Z2.
“Ashwath Mehra”
ASHWATH MEHRA
Toronto, Ontario–(Newsfile Corp. – July 15, 2021) – Eric Sprott announces that today, 1,250,000 common share purchase warrants ("Warrants") of Silver Grail Resources Ltd., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 3.5% of the outstanding common shares on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned and/or controlled 2,500,000 common shares and 1,250,000 Warrants representing approximately 7.7% of the outstanding common shares on a non-diluted basis and approximately 11.1% on a partially diluted basis assuming the exercise of all Warrants.
As a result of the Warrant expiry, Mr. Sprott controls 2,500,000 common shares representing approximately 7.7% of the outstanding common shares on a non-diluted basis. The Warrants expiry resulted in a partially diluted ownership change of greater than 2% (to below 10%) and, therefore, the filing of an update to the early warning report.
The common shares noted above are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Silver Grail Resources Ltd., is located at 2130 Crescent Road, Vancouver, British Columbia, V8S 2H3. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90414
VANCOUVER, British Columbia, July 15, 2021 (GLOBE NEWSWIRE) — Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) is pleased to provide an update on its 7000m drilling program at DEEP FOX, located in our Port Hope Simpson – St. Lewis Critical Rare Earth Elements (CREE) District in SE Labrador, which begun in June 2021.
DEEP FOX DRILL PROGRAM UPDATE
The drill program commenced June 2, 2021, with our expectation of 7000m of drilling and completion of between 40-45 drill holes.
Drilling program objectives:
extend the current resource (see Search Minerals News Release, Oct. 1, 2019) to the 200m level with a 50m x 50m grid;
drill on a 25 x 25m grid to the 50m level;
drill two cross-sections (25m spacing) to the 200m level; and
explore to the 250m level.
Drilling program progress:
completed 3900 m of drilling and 28 drill holes;
shipped 1260 samples for assay.
Remaining timeline:
complete the 7000m program near September 1, 2021
HQ geotechnical drill program will consist of 8-10 holes, 1800-2000m, and commence after the completion of DEEP FOX drill program (early September)
complete assay results should be received within 6 weeks of completion of the program.
Dr. Randy Miller, Vice-President, Exploration comments, “All drill holes completed to date have intersected mineralization that is visually similar to that analyzed from previous drill programs. The addition of geologist Andrea MacFarlane and another support staff to our team has greatly improved our ability to log, test and sample core for assay. We will report our assay and drilling results once all the assays have been received and interpretations have been completed.”
The drill program is designed to provide data to estimate a resource for an open pit to the 200m level. The 25m grid and cross-section drill holes will help to evaluate what density of drilling is required to estimate a measured and indicated resource for a Bankable Feasibility study. The Company will prepare an updated resource estimate following the completion of this drilling program.
The Geotechnical drill program will be used to determine the geotechnical parameters of the proposed open pit to mine the deposit.
Greg Andrews, President/CEO states, “Our immediate goal is to advance our Critical Rare Earth Element District to production. This will require (a) advancing our DEEP FOX project to a measured and indicated resource, (b) provide engineering and economic studies such as Preliminary Economic Assessments and Feasibility Studies and (c) develop and submit an Environmental Assessment report to initiate the environmental and permitting process for DEEP FOX.”
The DEEP FOX DEPOSIT occurs about 2 km northeast of St. Lewis and 12 km east of the FOXTROT DEPOSIT.
Search is following the COVID protocols which are currently in place within the Province of Newfoundland & Labrador to ensure the safety of our employees and the communities where we work.
Qualified Person:
Dr. Randy Miller, Ph.D., P.Geo, is the Company's Vice President, Exploration, and Qualified Person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The Company will endeavour to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT, and a resource estimate for DEEP FOX. Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX.
Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Statements:
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company’s proposed exploration programs described herein, and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the inability to obtain the necessary resources to complete the exploration programs and poor exploration results.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals.
Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
THUNDER BAY, ON / ACCESSWIRE / July 15, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic"), is pleased to announce a non-brokered private placement offering (the "Private Placement") for aggregate gross proceeds of $1,450,000 in units of the Company (the "Units") at a price of $0.50 per Unit. Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, has indicated his intention to subscribe for the entirety of the Private Placement.
Each Unit shall be comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common (a "Warrant Share") at an exercise price equal to $0.75 at any time up to 36 months from closing of the Private Placement.
The Company intends to use the gross proceeds from the sale of Units for drilling and exploration on the Golden Promise Gold Properties, located in the central Newfoundland gold belt and general working capital.
The Common Shares and the Warrant Shares to be issued under the Offering have a hold period of four months and one day closing of the Offering.
In connection with the Private Placement, the Company will pay a finder's fee in cash and finder's warrants in accordance with the policies of the TSX Venture Exchange.
The issuance of the Units and payment of the finder's fee is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
Investor Relations:
Andrew Job
1-416-628-1560
IR@GreatAtlanticResources.com
Office Line 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
Forward-looking statements: This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/655642/Great-Atlantic-Announces-145-Million-Private-Placement-by-Mr-Eric-Sprott
Vancouver, British Columbia–(Newsfile Corp. – July 15, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") announces it has retained Leofortis AG to advise Wealth Minerals on discussions with German car industry companies. Leofortis AG is led by Mr. Jürgen Geissinger, an accomplished German auto industry executive who was CEO of Schaeffler AG. At the end of his tenure there in 2013, Schaeffler AG was the third-largest automotive supplier in the world.
Hendrik van Alphen, CEO of Wealth, commented: "We look forward to working with Leofortis AG and getting Wealth Minerals known by major German industry groups."
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico and Chile. The Company's main focus is the acquisition and development of lithium projects in South America. To date, the Company has positioned itself to work alongside existing producers in the prolific Atacama salar, where the Company has a substantial license package.
Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.
For further details on the Company readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors ofWEALTH MINERALS LTD.
"Hendrik van Alphen"Hendrik van AlphenChief Executive Officer
For further information, please contact:
Marla RitchiePhone: 604-331-0096 Ext. 3886 or 604-638-3886E-mail: info@wealthminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, anticipated exploration program results from exploration activities, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves, the closing and amount of the Placement, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including acceptance by the TSX-V, required for the Placement, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90367
Vancouver, British Columbia–(Newsfile Corp. – July 15, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth"), reports, pursuant to its news releases dated June 21, 2021, May 25, 2021 and June 11, 2021, that they have closed a third tranche of the Placement. On July 14, 2021, the Company issued an additional 2,250,000 units for gross proceeds of $675,000.00. Each unit consists of one common share of the Company (a "Share") at $0.30 and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.45 per share.
No finder's fees were paid pursuant to this tranche close.
All securities issued in the Placement are subject to a four-month hold period, during which time the securities may not be traded.
The Company anticipates closing additional tranche(s) pursuant to the financing and has requested an extension for final closing to July 30, 2021.
The net proceeds from the Offering are intended for general corporate purposes.
This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico and Chile. The Company's main focus is the acquisition and development of lithium projects in South America. To date, the Company has positioned itself to work alongside existing producers in the prolific Atacama salar, where the Company has a substantial licenses package.
Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.
For further details on the Company readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
"Hendrik van Alphen"Hendrik van AlphenChief Executive Officer
For further information, please contact:
Marla RitchiePhone: 604-331-0096 Ext. 3886 or 604-638-3886E-mail: info@wealthminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, anticipated exploration program results from exploration activities, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves, the closing and amount of the Placement, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including acceptance by the TSX-V, required for the Placement, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90409
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, July 14, 2021 (GLOBE NEWSWIRE) — Lupaka Gold Corp. ("Lupaka Gold" or the “Company") (TSX-V: LPK, FRA: LQP) announces that the Company has closed the non-brokered private placement previously announced on June 23, 2021 (the “Placement”).
The Company issued 4,000,000 units at a price of $0.05 per unit for gross proceeds of $200,000. Each unit consists of one common share of the Company (“Share”) and one transferable common share purchase warrant (“Warrant Share”) entitling the holder to purchase an additional common share of the Company at a price of $0.10 for a period of three years from the closing (the “Placement”). All Shares issued and Warrants Shares (if exercised prior to November 15, 2021) are subject to a hold period expiring four months and one day from the closing date of the Placement in accordance with applicable securities laws. Closing of the Placement is subject to final acceptance by the TSX Venture Exchange.
In connection with the subscriptions received the Company expects to pay finders’ fees in the amount of $10,000 in cash. No insiders participated in this Placement.
The proceeds of the Placement will be used to pay ongoing operating costs as the Company continues to pursue its litigation against the Republic of Peru and to support review of potential new properties.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gordon Ellis, C.E.O.
gellis@lupakagold.com
Tel: (604) 985-3147
or visit the Company’s profile at www.sedar.com or its website at www.lupakagold.com
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