|To: LoneClone who wrote (15805)||4/15/2019 11:12:03 AM|
|Tungsten: King Island Scheelite secures offtake with Austria’s WBH|
Posted on 15th April 2019 in General News.
Australian-headquartered King Island Scheelite (KIS), which is developing the brownfield Dolphin tungsten mine project on King Island off the coast of Victoria, has signed an offtake agreement with Austrian company Wolfram Bergbau und Huetten, a leading producer of refined tungsten.
The offtake agreement is for 1.4kt of concentrate on a 100% WO3 basis (1.1kt contained W) over a four-year period, representing around 20% of planned annual production, and indexed to the Fastmarkets MB price for ammonium paratungstate (APT).
The take or pay contract is subject to KIS achieving certain financial and operational milestones before end-March 2021, including commencement of groundworks after placement of orders for long-lead time items, start of dry commissioning, and completion of ramp up.
Roskill view: The agreement makes KIS one of the frontrunners in the next wave of tungsten mine developers that are at the financing and permitting stage, at which Roskill has identified 14 projects. In March 2018, Almonty Industries secured a 10-year offtake for its Sangdong project in South Korea, while in November 2018 Australian tungsten developer Thor Mining appointed Argent Partners to assist with arranging offtakes and financing for the Molyhil project.
Roskill’s NEW Tungsten: Outlook to 2028 report was published in March 2019. Click here to download the brochure or sample pages or access further information.
To discuss the tungsten market with Roskill, contact Jessica Roberts: firstname.lastname@example.org
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|To: LoneClone who wrote (15806)||4/15/2019 11:15:17 AM|
|Cobalt: Dramatic price fall comes to an end|
Posted on 15th April 2019 in General News.
Cobalt Standard Grade prices started the year at US$26/lb but fell sharply over Q1, bottoming out at US$14/lb in late March. Q1 prices averaged US$18.50/lb.
Roskill view: This time last year, cobalt prices were above US$40/lb. Since then, oversupply (especially of hydroxide but also of most refined forms), set against sluggish demand (and limited investor stockpiling), brought about a 12-month period of price decline. The rate of that decline intensified in 2019 and, with prices dropping week-on-week, buyers remained on the sidelines. Significant amounts of cobalt were not committed to long-term contracts last year and many buyers, including those in China, are intending to purchase cobalt on a spot basis. The number of, and size of, spot deals has increased sharply. The cobalt market continues to change quickly.
With cobalt prices unable to fall much further, it appears that some restocking is taking place. This should push prices up. While the outlook for demand, especially from the battery sector, remains very positive, sentiment remains depressed compared to one year ago. Nonetheless, Roskill expects cobalt prices to recover over the course of 2019 and to remain volatile over the coming years.
Recent developments in the cobalt market include the introduction of the London Metal Exchange’s new cash-settled cobalt contract, which is settled against Fastmarkets’ benchmark standard-grade cobalt price.
Roskill’s NEW Cobalt: Outlook to 2028 report will be published in July 2019. Click here to download the brochure or sample pages or access further information.
To discuss the cobalt market with Roskill, contact Jack Bedder: email@example.com
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|To: LoneClone who wrote (15807)||4/15/2019 11:18:34 AM|
|Vanadium: Prices continue to fall |
Posted on 15th April 2019 in General News.
Vanadium prices averaged US$68/kg in March and spot prices are now lower in April. Q1 prices average US$74/kg.
Roskill view: The ongoing tolerance period for new rebar standards in China is the main factor contributing to falling vanadium prices. In addition, higher-than-expected substitution of ferrovanadium for ferroniobium in China (caused by high vanadium prices) has reduced vanadium demand and helped push prices downwards. Ferroniobium imports into China peaked at 7kt in January 2019 but fell back to 3kt in February. High January imports were partly a reflection of steel mills purchasing on an annual contract basis.
With the peak period for Chinese construction still ahead, it remains possible that vanadium prices will stabilise or even begin to increase as the year progresses. Roskill maintains that any sign of strict implementation of new rebar standards will result in higher vanadium demand and thus higher prices. As ever, vanadium prices are likely to be volatile.
Recent developments in the vanadium market include Ferro-Alloy Resources (Kazakhstan) starting trading on the London Stock Exchange and Ferrovan (Finland) deciding to apply for voluntary liquidation.
Roskill’s NEW Vanadium: Outlook to 2028 report was published in March 2019. Click here to download the brochure and sample pages, or to access further information.
To discuss the vanadium market with Roskill, contact Jack Bedder: firstname.lastname@example.org
|RecommendKeepReplyMark as Last ReadRead Replies (1)|
|To: LoneClone who wrote (15808)||4/15/2019 11:22:48 AM|
|Sayona Mining (ASX:SYA) Expands Tansim Lithium Project with New Acquisition|
WWW: www.sayonamining.com.au Company Overview
Brisbane, April 15, 2019 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited ( ASX:SYA) ( OTCMKTS:DMNXF) has expanded its Canadian lithium interests, announcing today the acquisition of a 100% interest in the Lac Simard lithium prospect, Val d'Or, Quebec from the privately owned Exiro Minerals Corp.
- Sayona expands Tansim Lithium Project with acquisition of 100% interest in Lac Simard lithium prospect, Val d'Or, Quebec from privately owned Exiro Minerals Corp.
- Acquisition follows latest drilling results at Tansim showing potential for new lithium deposit
- Move adds to Sayona's Canada holdings amid push for new lithium-battery industry in Quebec.
The acquisition has expanded Sayona's emerging Tansim Lithium Project, located just 82 kilometres south-west of the Company's flagship Authier Lithium Project. It also follows recent exploration drilling results at Tansim showing the potential for a new lithium deposit (refer ASX announcement 9 April 2019).
Under the agreement with Exiro Minerals, Sayona can acquire a 100% interest by making cash and share payments and undertaking work on the property over a three-year period, with Exiro retaining a 2% net smelter return (NSR) royalty.
Sayona's Managing Director, Dan O'Neill, said the acquisition would help strengthen the Company's project pipeline in the rapidly emerging Quebec lithium industry.
"Tansim's potential has been reinforced by the latest exploration results, which point to the possibility of a new lithium deposit within relatively close proximity to Authier," Mr O'Neill said.
"This acquisition will allow shareholders to further benefit from the growth of the Tansim project, as we work to unlock value from our lithium project pipeline in Canada and Western Australia."
Under the agreement with Exiro Minerals, Sayona may earn a 100% interest in the Lac Simard property by:
- Issuing to Exiro shares in Sayona totalling - $20,000 worth of shares upon signing; $30,000 worth of shares on or before the first anniversary; $40,000 worth of shares on or before the second anniversary; and $50,000 worth of shares on or before the third anniversary;
- Making cash payments totalling $50,000 on or before the third anniversary;
- File, transfer, apply and have accepted minimum assessment work on the property totalling - $10,000 worth of assessment work on or before the first anniversary; and $10,000 worth of assessment work on or before the second anniversary.
Upon completion of the option terms, Exiro will retain a 2% NSR royalty on the property.
Exiro's COO, Joshua Bailey said: "Lac Simard was the first mineral property staked by Exiro and we welcome this agreement with Sayona, an experienced lithium company in Canada. Sayona's board and management have had considerable success advancing the nearby Authier lithium project and adjacent Tansim property and we are pleased to work together to advance this project for the benefit of everyone."
Sayona's Mr O'Neill added: "Sayona welcomes the opportunity to support Quebec's ambitions to be at the forefront of the global revolution in lithium-ion battery technology. With our work at Authier and Tansim, we are committed to developing a sustainable and profitable industry that helps unlock value from the metal of the 21st century."
About Sayona Mining Ltd
Sayona Mining Limited ( ASX:SYA) ( OTCMKTS:DMNXF) is an Australian, ASX-listed (SYA) company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. The Company has lithium projects in Quebec, Canada and in Western Australia.
Please visit us as at www.sayonamining.com.au
|Dan O Neill |
Link: Sayona Expands Tansim Project with New Acquisition
Sayona Mining Ltd
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|To: LoneClone who wrote (15809)||4/15/2019 12:03:52 PM|
|Katanga Mining Announces Limited Resumption of Cobalt Exports|
CNW GroupApril 15, 2019
ZUG, Switzerland, April 15, 2019 /CNW/ - Katanga Mining Limited (TSX: KAT.TO - News) ("Katanga" or the "Company") today announces that its 75%-owned DRC subsidiary Kamoto Copper Company ("KCC") has resumed the export and sale of a limited quantity of cobalt that complies with both international and local Democratic Republic of Congo ("DRC") transport regulations with respect to the levels of uranium (the "Applicable Regulations").
In Q4 2018, the Company announced that KCC had temporarily suspended the export and sale of cobalt due to the presence of uranium detected in the cobalt hydroxide at levels that exceed the acceptable limit allowed for export of the product through main African ports to customers. The low levels of radioactivity detected in the uranium to date do not present a health and safety risk.
While KCC, together with the Company and KCC's 25% shareholder, DRC state-owned La Générale des Carrières et des Mines ("Gécamines"), have been working with the DRC government's Ministry of Mines and the Congolese Atomic Energy Agency (CGEA) on a long-term technical solution in the form of an ion exchange plant (the "Ion Exchange Plant"), KCC has also been exploring various alternative interim solutions, both operational and regulatory, to recommence the export and sale of cobalt.
Through interim operational solutions, KCC has produced approximately 930 tonnes of contained cobalt that complies with Applicable Regulations since January 2019. This represents approximately 22.5 percent of the total production of contained cobalt since January 2019. As confirmed by the competent DRC authorities, KCC will resume the export of its cobalt hydroxide complying with the Applicable Regulations with immediate effect. Such resumption of exports remains subject to the regular DRC export procedures, which include the continued monitoring by CGEA and by the relevant mining authorities.
KCC will continue to focus on implementing the interim operational solutions while it processes the Ion Exchange Plant.
About Katanga Mining Limited
Katanga Mining Limited operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. The Company has the potential to become Africa's largest copper producer and the world's largest cobalt producer. Katanga is listed on the Toronto Stock Exchange under the symbol KAT.
Forward Looking Statements
This press release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements. Although the Company believes that these assumptions are reasonable, these assumptions are not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Although Katanga has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.
SOURCE Katanga Mining Limited
View original content to download multimedia: newswire.ca
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|To: LoneClone who wrote (15810)||4/15/2019 12:05:53 PM|
|Westwater’s Coosa Project Graphite Performs Well Over Extended Period Testing|
U.S. Made Coated Spherical Purified Graphite Performs Better Than Chinese Control Sample over 200+ Cycles
Apr 15, 2019
CENTENNIAL, Colo., April 15, 2019 – Westwater Resources, Inc. (“Westwater,” or the “Company”) (Nasdaq: WWR), an energy materials development company, is pleased to provide the long-term cycling data obtained by independent tests conducted on coated spherical purified natural crystalline graphite (ULTRA-CSPG) from the Company’s Coosa Graphite Project.
Christopher M. Jones, President and CEO of Westwater Resources, stated “We are proud to be among the first in the graphite development space to release long-term cycling performance results of our purified coated natural flake spherical graphite materials from our Coosa Graphite Project. We are not aware of anyone ever to date to report long-term cycling data for US sourced natural flake graphite materials. We are also pleased that the test results showed continued improvements on the irreversible capacity loss compared to tests completed on Coosa ULTRA-CSPG in 2016.”
“The lithium ion battery market growth we see worldwide is driven by the fast-growing market for electric vehicles. Every major automaker in the world either has an electric vehicle product line, or is considering the development of one. We are excited to be part of this growth, and these positive tests of ULTRA-CSPG mean that we are one large step closer to commercialization.”
As indicated in Westwater’s news release on April 11, 2019, electrode formulation for the half cells utilizing the uncoated spherical graphite (SPG) was optimized and tested. These tests showed positive long-term cycling performance although uncoated SPG is not directly used in battery operations. For lithium-ion batteries, coated spherical graphite like our ULTRA-CSPG is used as an anode material. Westwater’s ULTRA-CSPG is sourced and manufactured exclusively from the Company’s Coosa Graphite Project property, located in Coosa County, Alabama, USA. Testing details are presented below.
HIGHLIGHTS OF THE TEST RESULTS
- Extremely low irreversible capacity loss of 4.03% due to optimized electrode formulation.
- First ever long-term cycling data on US sourced CSPG.
- Very stable cycling performance over 200 cycles.
- Superior performance compared to the leading CSPG originated from China
- Purification, micronization, spheronization, classification and surface coating of our natural flake graphite from the Coosa Graphite Project were achieved through the Company’s innovative, proprietary specialty processes.The purity level achieved was greater than 99.95 wt%.
- ULTRA-CSPG grades were formulated into the battery grade coatings and cast on copper foil.CR2016 coin cells were assembled and tested using the graphite as anode versus Li/Li+ counter electrode assembly (half-cell).Low temperature LP81 electrolyte from BASF was utilized in the cells.The upper and lower voltage limits during cycling was 0.01 V and 2 V vs Li/Li+. Charging and discharging current rate was C/20.
- The properties of ULTRA-CSPG from the Coosa Graphite Project are presented in Table below.
| Parameter |
| Value (units) |
| Trade Name |
| ULTRA-CSPG |
| Loss On Ignition |
| > 99.95 (wt%) |
| Ash% |
| < 0.05 (wt%) |
| Scott Volume |
| 0.59 (g/cm3) |
| Tap Density |
| 0.93 (g/cm3) |
| BET Surface Area |
| 2.1 m2/g |
| D50 |
| 18.9 (micrometre) |
About Westwater Resources
- Reversible capacity, irreversible capacity and irreversible capacity loss are the most critical metrics for measuring battery performance. These parameters are obtained after the first charge and discharge cycle.Figure 1 shows the initial galvanostatic cycling results for the first 2 cycles.
- Reversible capacity: 359.9 mAh/g.
- Irreversible capacity: 375 mAh/g.This is the initial charge capacity.
- Irreversible capacity loss (ICL): 4.03% which yields 95.97% efficiency.This remarkably low ICL value is achieved by optimization of electrode composition, calendared density, active material loading and electrode formulation.In 2016, the tests performed on Coosa ULTRA-CSPG indicated ICL as 5.09% with 94.91% efficiency.The present formulations improved the ICL value.
Figure 1. Initial galvanostatic cycling of coated purified spheroidal graphite from Coosa Graphite Project,
CR2016 coin cells. Li/Li+ reference. Electrolyte: LP-81 + 5 wt. % vinylene carbonate. C/20 charge-discharge rate.
- The long-term cycling tests were performed on optimized formulations and the results are presented in Figure 2. As shown, our ULTRA-CSPG showed stable cycling performance over 200 cycles.The overall reversible capacity reduction of ULTRA-CSPG over the 200+ cycles was estimated as 342.65 / 351.2 = 2.43%. Consistent with commonly accepted conventions of the battery industry, cycling is typically run until 80% of the initial reversible capacity is reached. Stated ultra-low degradation upon prolonged cycling is a very positive sign.This ability to maintain low degradation may enable Coosa material to qualify for use as anodes in batteries with greatly extended cycle life of beyond 1,000 cycles.
- Long-term cycling data was benchmarked against electrochemical performance of leading coated natural spheroidal graphite originated from Hunan province in China. The performance of ULTRA-CSPG exceeded the performance of the Chinese control sample over the 200 cycles.
Figure 2. Long-Term galvanostatic cycling of coated purified spheroidal graphite (CSPG) from Coosa Graphite Project
CR2016 coin cells. Li/Li+ reference electrode. C/20 charge-discharge rate.
- These tests were conducted by a leading independent North American energy materials laboratory specializing in research and development on industrial graphite, carbon and batteries.
WWR is focused on developing energy-related materials. The Company’s battery-materials projects include the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Mine located across 41,900 acres (~17,000 hectares) in east-central Alabama. In addition, the Company maintains lithium mineral properties in three prospective lithium brine basins in Nevada and Utah. Westwater’s uranium projects are located in Texas and New Mexico. In Texas, the Company has two licensed and currently idled uranium processing facilities and approximately 11,000 acres (~4,400 hectares) of prospective in-situ recovery uranium projects. In New Mexico, the Company controls mineral rights encompassing approximately 188,700 acres (~76,000 hectares) in the prolific Grants Mineral Belt, which is one of the largest concentrations of sandstone-hosted uranium deposits in the world. Incorporated in 1977 as Uranium Resources, Inc., Westwater also owns an extensive uranium information database of historic drill hole logs, assay certificates, maps and technical reports for the western United States. For more information, visit www.westwaterresources.net.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing events or developments that WWR expects or anticipates will occur in the future, including but not limited to statements relating to the future performance of the Company’s coated spherical purified graphite, from the Coosa Graphite Project or otherwise, are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, (a) the Company’s ability to successfully integrate Alabama Graphite Corporation’s business into its own, and the risk that additional analysis of the Coosa Graphite Project may result in revisions to the findings of WWR’s initial optimization study; (b) the Company’s ability to raise additional capital in the future; (c) spot price and long-term contract price of graphite, lithium, vanadium and uranium; (d) risks associated with our domestic operations; (e) operating conditions at the Company’s projects; (f) government and tribal regulation of the graphite industry, the lithium industry, the vanadium industry, the uranium industry, and the power industry; (g) world-wide graphite, lithium, vanadium and uranium supply and demand, including the supply and demand for lithium-based batteries; (h) maintaining sufficient financial assurance in the form of sufficiently collateralized surety instruments; (i) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including in Alabama, Texas, New Mexico, Utah, and Nevada; (j) the ability of the Company to enter into and successfully close acquisitions or other material transactions; (k) the results of the Company’s lithium brine exploration activities at the Columbus Basin, Railroad Valley, and Sal Rica projects, and the possibility that future exploration results may be materially less promising than initial exploration result; (I) any graphite, lithium, vanadium or uranium discoveries not being in high-enough concentration to make it economic to extract the metals; (m) currently pending or new litigation or arbitration; and (n) other factors which are more fully described in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release. The results of the initial optimization study are preliminary in nature and subject to revision following WWR’s further analysis of the Coosa Graphite Project.
| Westwater Resources Contact: || Investor Relations Contact: |
| Christopher M. Jones, President & CEO |
Jeff Vigil, VP Finance & CFO
| Michael Porter, Porter, LeVay and Rose|
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|To: LoneClone who wrote (15811)||4/15/2019 12:10:54 PM|
|Neo Lithium Announces Submission of its Environmental Impact Assessment (“EIA”) for Construction of its 3Q Project|
April 15, 2019 08:00 ET | Source: Neo Lithium Corp.
The 3Q Project achieves a major milestone by submitting the project Environmental Impact Assessment (“EIA”) to the Catamarca Mining and Environmental Authority, after more than 2 years of preparation. TORONTO, April 15, 2019 (GLOBE NEWSWIRE) -- Neo Lithium Corp. (“Neo Lithium” or the “Company”) (TSXV:NLC; OTCQX:NTTHF; FSE:NE2) is pleased to announce the submission of the Environmental Impact Assessment (“EIA”) for its wholly-owned Tres Quebradas lithium brine project ("3Q Project") in Catamarca Province, Argentina.
- Final construction permitting process has now begun and approval is expected to be obtained in 2019
- The 3Q Project will provide significant economic and social benefits for the Catamarca Province, the Tinogasta Department and Fiambala Municipality.
- The Company has started formalizing its social responsibility practices following E3plus and Sustainable mining standards
The EIA presented to Catamarca Environmental and Mining Authorities was prepared by GT Ingenieria SA (Argentina), a company specialized in environmental studies with deep experience in the mining and industrial sectors. The EIA included work with local professionals from University of Catamarca, Tucuman and Mendoza as well as the IHLLA Research center in Buenos Aires, specialized in Hydrogeology. The EIA includes a hydrological model that allows the authorities to understand the impact of exploitation in brine water table in the salar, and surrounding lithium brine lakes. The EIA was prepared following the lineaments of the pre-feasibility report announced on March 21, 2019, which outlined the production of 20,000 tonnes of lithium carbonate per year.
The Company obtained its initial environmental permit (DIA in Spanish) in 2016, which was subsequently renewed in 2018 and approved in 2019 for exploration, geophysics, drilling, pond, and camp construction. That renewal allowed the development of further infill drilling for the final feasibility study, production wells, monitoring wells and further drilling in the high-grade zone (currently ongoing). The Company is also running a fully operational lithium carbonate pilot plant in Fiambalá.
In October 2018, the Company completed and presented to the environmental authorities the environmental baseline study (“EBS”), with two years of data for flora, fauna, social studies, water studies, air studies, soil studies, archeology, limnology and complete overview of the environmental issues of the region. The EBS included an analysis of the Ramsar site (wetlands environmental awareness zone) and the measures taken to assure that there will be no adverse impact on flora or fauna in the area. The EBS confirms that significant nesting grounds are only found well outside of the proposed mining and operations area of influence. The hydrological models also demonstrate that the proposed mining operations would have no influence on areas to the south, where limited nesting grounds are found. The EBS showed that the 3Q Project can be developed with minimal impact in the ecosystems and identified areas outside the tenements that are environmentally sensitive, proposing to the authorities a special treatment of those sectors.
"This is a very important milestone that de-risks the 3Q Project and demonstrate our commitment to the environment and the people of the Catamarca Province”, said Waldo Perez, President and CEO of Neo Lithium. ”We expect prompt treatment of or our EIA submission since we are now in the final stages of making the 3Q Project a reality to the Province and our shareholders as we continue or pathway and progress towards our development and production objectives.”
The Company has also been working extensively on its social community program for three years with a full-time team of five professionals at its offices in Fiambalá. The team carried on the 2018 program that included:
A total of 16 training courses for the community so far (including bakery, ceramics, health, pastry, mechanics, safety, leather works among others) that were attended by over 600 peopleMore than 15 presentations of the project in schools, municipality, local, service providers and training courses attended by approximate 800 peopleOver 100 Visits of the local community to the 3Q ProjectOver 250 written consultations answered in the Fiambala officeSponsorship in sports, arts and religious affairsOver 70% local employmentPriority to local service providers and suppliersStrong support on the project based on local survey in town
Neo Lithium continues to adhere to international standards of social responsibility practices. As the 3Q Project is in the final stages of exploration and development, the Company expects to reach the construction and production stage in the foreseeable future, its approach contains elements of both “e3 Plus – a Framework for Responsible Exploration” of the Prospectors and Developers Association of Canada and of “Towards Sustainable Mining” of the Mining Association of Canada. In addition, it includes a sociology component based on the Ph. D. studies of Dr. Jan Boon.
Dr. Boon was a member of the CSR Committee of the PDAC and was involved in the development of e3 Plus. His sociology Ph. D. thesis dealt with social responsibility in mineral exploration. Dr. Boon is providing guidance together with Lic. Pablo Lumerman, an expert in dialogue and a member of the “Plataforma de Diálogo de la República Argentina and of the Grupo de Diálogo Latinoamericano”. Employees are participating in capacity building exercises and have taken part in a survey aimed at establishing a sociological baseline.
About Neo Lithium Corp.
Neo Lithium Corp. has quickly become a prominent new name in lithium brine exploration by virtue of its high quality 3Q Project and experienced team. Already well capitalized, Neo Lithium is rapidly advancing its recently discovered 3Q Project - a unique high-grade lithium brine lake and salar complex in Latin America’s “Lithium Triangle”.
The 3Q Project is located in the Province of Catamarca, the largest lithium producing area in Argentina. The project covers approximately 35,000 ha and the salar complex within this area is approximately 16,000 ha.
The technical team that has discovered the 3Q Project characterized this unique salar complex as one of the most experienced in lithium salars. For example, this team discovered and led the technical work, including resource definition and full feasibility study, that established the Cauchari lithium salar as one of the largest lithium brine resources in the world.
Additional information regarding Neo Lithium Corp. is available on SEDAR at www.sedar.com under the Company's profile and at its website at www.neolithium.ca, including various pictures of ongoing work at the project.
For further information, please contact:
Neo Lithium Corp.
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. The TSX Venture Exchange Inc. has in no way approved nor disapproved the contents of this press release.
Cautionary Note Regarding Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements. Such statements include but are not limited to, statements as to lithium brine grades at depth being consistent with surface results, the potential for resource expansion at depth, the potential of the northern salar sediments, and deeper sediments, for hosting brine, the ability to proceed to scoping studies quickly, proceeding with continued work for additional economic studies the potential for production expansion in the Company’s assessment of the economic potential of the 3Q Project, that test results are indicative of future results, and the additional of additional independent directors. Generally, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “is expected”, “scheduled”, “estimates” “intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or results “can”, “may”, “could”, “would”, ”should”, “might” or “will”, occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. These risks include, without limitation, risks related to failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for lithium products, competition for experienced directors in the junior mineral exploration and development sector, and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company’s disclosure record. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and undue reliance should not be placed on forward-looking statements.
More articles issued by Neo Lithium Corp. More articles related to: Company Announcement
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|To: LoneClone who wrote (15812)||4/15/2019 12:13:27 PM|
|Desert Lion Provides Lithium Project Development Update|
April 15, 2019 07:00 ET | Source: Desert Lion Energy Inc.
Location of soil geochemical exploration programs
Desert Lion Energy Inc.
TORONTO, April 15, 2019 (GLOBE NEWSWIRE) -- Namibian lithium developer Desert Lion Energy Inc. (TSXV: DLI) (OTCQB: DSLEF) (“Desert Lion” or the “Company”) is pleased to announce the appointment of Atul Bali to the board of directors, effective immediately.
Atul Bali Appointed to Board of Directors
Atul is a seasoned corporate executive, with experience in technology, government contracting and regulated industries. Atul has worked on all 6 continents over the past 25 years and has served on numerous boards. He currently serves as (i) a non-executive director of Rainbow Rare Earths plc, (ii) Chairman of Meridian Gaming, which operates in 30 countries throughout Europe, Africa and LATAM and (iii) a senior advisor to several other companies. He previously held divisional CEO / President roles at International Game Technology PLC (NYSE), Aristocrat Leisure Limited (ASX) and RealNetworks Inc. (NASDAQ) and qualified as a Chartered Accountant in the United Kingdom, having trained at KPMG.
“We are excited to have Mr. Bali join the board of directors,” commented Adonis Pouroulis, Chairman of Desert Lion. “Mr. Bali brings a wealth of experience in corporate M&A, strategy and global business development from his 25+ years of experience.”
2019 Exploration and Development Program Update
Desert Lion is continuing to progress the Company’s 2019 development program and is focused on several key areas:
Update of Mineral Resource Estimate, focused on increasing confidence in the geological model and increasing volumesOptimizing pit shell design and current mine plan guided by work completed during the exploration and geotechnical programsFinalize technical and financial studies to complete Phase 1 concentratorComplete Pre-Feasibility Study for lithium hydroxide plantContinuing grassroots exploration over the Company’s exclusive prospecting licenses
Mineral Resource and Grassroots Exploration Update
Exploration work within the 1st quarter of 2019 has been focused on rationalising the geological models at Rubicon and Helikon, with the aim of improving the model resolution and increasing confidence in the Mineral Resource Estimates (“MRE”). Additional work was also completed to increase existing volumes at Rubicon in particular, and this was achieved through underground mapping and surveying. The following key activities were undertaken in Q1 of 2019:
Underground survey of underground workings at RubiconPegmatite hanging wall sampling at RubiconDevelopment of approach for explicit geological modellingDevelopment of terms of reference for geotechnical work
Underground Survey at Rubicon
The historical underground workings at Rubicon were surveyed during the quarter and were completed by a professional mine surveyor registered and accredited by the Chamber of Mines, Namibia. The accessible (and safe) old stopes, declines and drives were surveyed. The surveyed areas represent 64% of the historical workings by volume based on the historical underground mine plan, which is filed at the Ministry of Mines in Windhoek.
In order to cater to these underground voids, the current MRE geological and blockmodel was excised or “cookie cut”, such volume representing an estimated 497,000t. The recently completed survey computed a volume of 49,715m3 which translates to 139,203t (using a specific gravity of 2.8), indicating that over 300,000t can potentially be added to the MRE.
Surface infill and underground drilling will be guided by these results, and areas that were previously excluded from the MRE will now be included. Increased confidence in the MRE classification is anticipated following completion of this work that will inform and support the next MRE update.
Hanging Wall Sampling
The Rubicon and Helikon deposits are well-fractionated, zoned, LCT – type pegmatites. The zonation is well defined by mineralogical assemblages and is easily identified on outcrop within the old workings and in the drill core, with lepidolite mineralisation being typically located adjacent to and mainly on the footwall of the quartz core. However, relogging, assaying and quantitative XRD of “barren” pegmatite located above this zone (hanging wall pegmatite) has confirmed that there is additional lithium mineralisation (lepidolite, zinnwaldite, li bearing micas) located outside the main lepidolite bearing mineralised zones. These were historically not sampled and did not form part of the MRE released in October 2018.
Sampling and logging of all Rubicon and Helikon 1 hanging wall pegmatite from previous existing drill cores was initiated and completed during the quarter, with a total of 1,135 samples (including QAQC) being taken, representing nearly 1,000m of unsampled pegmatite. Mineralogy of these zones is expected to be completed using quantitative XRD over representative sections, and results incorporated into the next iteration of the MRE.
Relogging & Geological Model Revision
The geological model which informed the MRE had many aspects that could be improved by moving away from implicit modelling and adopting explicit modelling for refining the model. The Company believes this approach will provide a simpler, well-domained, and logical model that will further support the next MRE iteration.
A standardised approach has been adopted for the recoding and relogging of Rubicon and Helikon data in preparation for sectional interpretation required for the explicit modelling component of the MRE geological models at Rubicon and Helikon. These refined geological models (in conjunction with the results of the underground survey) are anticipated to further support and guide infill drilling programs to improve confidence and increase MRE at Rubicon and Helikon.
A geotechnical study is a key requirement for pit and slope design optimisation. The study is intended to seek to optimise the slope angle, benches and evaluation slope stability and optimise the available pit shells for the Rubicon and Helikon deposits. A geotechnical optimised pit design is anticipated to allow for informed mine planning and support the optimised conversion of the MRE to Mineral Reserves.
A proposal and quotations for the work were received within the quarter and are being considered.
Desert Lion plans to resume grassroots exploration in the second quarter with the continuation of the soil sampling programme initiated in 2018. Over 2,000 soil geochemical samples are anticipated to be collected over the “DLI Pegmatite Corridor” at a regional grid of 200 x 50m spacing (Figure 1). More than 31 sub cropping pegmatites were identified in Q3 of 2018 within this corridor during the ground truthing or validation mapping over structural targets that were generated from the interpretation of the high-resolution aeromagnetic survey. The pegmatites identified are highly evolved and therefore potential LCT type pegmatites (Figure 1).
A photo accompanying this announcement is available at globenewswire.com
The soil survey is anticipated to yield LCT pathfinder anomalies that will be prioritised in combination with other datasets for a tight grid follow-up sampling program and subsequent reconnaissance drilling if results are supportive.
The Company is working closely with construction company K Nuemayer to complete estimates for the completion of the construction of the Phase 1 floatation plant. The floatation plant is expected to produce approximately 67,500t per year of concentrate and be ready for a construction decision by Q4 2019.
Following the announcement for the off-take of lithium hydroxide with BASF SE on April 2, 2019, the Company is preparing to complete a Pre-Feasibility Study to double concentrate production from Phase 1 and produce 10,000t per year of battery grade lithium hydroxide. The study is expected to be completed by Q4 2019.
Desert Lion also announces that it intends to issue an aggregate of 168,599 common shares of the Company (the "Common Shares") at a deemed price per share of $0.0975 in payment of $16,438.36 in interest due and payable under the Company's secured convertible notes due December 7, 2020 (the "Notes"). Under the terms of the Notes, the Company has the option to pay one-third of the monthly interest due on the Notes in Common Shares. The balance of the interest owing under the Notes, being $35,827.19, has been paid in cash.
The issuance of the Common Shares in payment of interest on the Notes is subject to the approval of the TSX Venture Exchange and the Common Shares will be subject to a hold period of four months and one day.
Qualified Person Statement
The accuracy of the scientific and technical information in this news release has been verified and approved by Mike Venter, Pr.Sci.Nat and VP Exploration for Desert Lion, who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Venter has also verified the sampling, analytical and test data underlying the scientific and technical information disclosed herein in accordance with industry standard best practices. The exploration program was directly supervised and executed by Mr. Simon Kahovera, BSc(Hons), Exploration Manager for Desert Lion and an employee.
About Desert Lion Energy
Desert Lion is an emerging lithium development company focused on building Namibia’s first large-scale lithium mine to be located approximately 210 km from the nation’s capital of Windhoek and 220 km from the Port of Walvis Bay (the “Project”). The Company’s Rubicon and Helikon mines are located within a 501 km2 prospective land package, with known lithium bearing pegmatitic mineralization, and the Company is advancing towards Phase 2 concentrate production. The Project site is accessible year-round by road and has access to power, water, rail, port, airport and communication infrastructure.
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget” “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved.” Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, lithium and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour and production costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, permitting and such other assumptions and factors as set out herein.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in lithium prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour and operating costs; general global markets and economic conditions; risks associated with exploration, development and operations of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Project; risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with the estimation of targeted production tonnages from Phase 1 operations; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the Project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; and the risk of litigation.
Although the Company has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this news release and the Company does not undertake to update or revise any forward-looking information that is included herein, except in accordance with applicable securities laws.
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
For more information, please contact:
Desert Lion Energy Inc.
Tim Johnston, Chief Executive Officer
Tel: (416) 309-2953
More articles issued by Desert Lion Energy Inc. More articles related to: Directors and Officers
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|To: LoneClone who wrote (15813)||4/16/2019 10:18:45 AM|
Enertopia Provides Solution Testing Progress Report
Tuesday, April 16, 2019 8:00 AM
KELOWNA, BC / ACCESSWIRE / April 16, 2019 / Enertopia Corporation (ENRT) on the OTCQB and (TOP) on the CSE (the "Company" or "Enertopia") is pleased to announce the following lithium project and synthetic solution testing update.
Since March 2019, Enertopia has been running in-house tests to recover lithium in the most cost-effective manner from synthetic brine solutions produced by leaching samples from the December 2018 drilling program from our Clayton Valley, Nevada project.
After visual inspection of the 2017 bulk samples, it was determined to have the particle size of the sample sorted and assays for each fraction completed to determine if presorting by grain fraction size could be a meaningful option to reduce the amount of claystone to process and possibly increase the head grade of the remaining claystone. The Company engaged Base Met Labs out of Kamloops, BC to conduct the fraction size testing and the results are below.
The Company is pleased to report that 16.5% of the sample which was composed of mainly coarser material contained only 2.5% of the Lithium. The remaining 82.5% of the sample size contained 97.5% of the Lithium.
Based on these results the Company has sent 5kg samples of the Upper Oxide, Upper Reduced, and Main Reduced zones to see if these three horizons can also be beneficially sorted as well.
The Company is testing several options in removing as much as possible unwanted contaminates before the enriched Lithium synthetic solution is processed. By thorough analysis of economically removing unwanted solids and or liquid fractions, this will enable a smaller and higher concentration of Lithium brine to be processed in a more efficient manner.
To this end Base Met Labs has also been engaged to verify and build upon our in-house testing of the Upper Oxide, Upper Reduced, and Main Reduced zones over the past six weeks.
The Company is also pleased to report that in-house column resin testing has confirmed our earlier results for removing contaminants and leaving Lithium in solution. Once the Base Met Lab results have been received from the three zones this data will be incorporated in the next series of resin testing.
Our pre-pH adjustments have demonstrated positive outcomes as contaminant minerals are greatly reduced allowing for a cleaner synthetic lithium brine to be processed using off the shelf technologies and variants developed by Entertopia.
The company's technical advisors believe the positive testing to date may warrant patent protection and thus the Company is keeping all internal data strictly confidential at this time. The Company has signed several NDA's with industry partners as it works to reach its goal of a low capex solution to battery grade lithium production.
'Our ongoing solution testing of the drilled lithium horizons continues to provide great insights and novel ways to strive for a low-cost mining and processing solution to unlock the potential value of the Lithium enriched claystones.' Stated CEO Robert McAllister
The Qualified person:
The technical data in this news release have been reviewed by Douglas Wood, P.Geol a qualified person under the terms of NI 43-101.
A Company focused on using modern technology to build shareholder value. Enertopia is working to establish a lithium resource and at the same time working on extracting Lithium from its synthetic brine solutions by using industry leading proven technology.
Enertopia shares are quoted in Canada with symbol TOP and in the United States with symbol ENRT. For additional information, please visit www.enertopia.com or call Robert McAllister, the President at 1.250.870.2219
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, potential and financing of its mining or technology projects, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions that are forward-looking statements. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements., foreign exchange and other financial markets; changes in the interest rates on borrowings; hedging activities; changes in commodity prices; changes in the investments and expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Enertopia Corporation operates. There can be no assurance that a lithium resource will be outlined at the Clayton Valley, NV project or the testing for the brine recovery system will be effective for the recovery of Lithium and if effective will be economic or have any positive impact on Enertopia and that Enertopia will file for patent protection. The User should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Enertopia Corporation from time to time with regulatory authorities.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
SOURCE: Enertopia Corp
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|To: LoneClone who wrote (15814)||4/16/2019 10:24:16 AM|
| Prophecy Submits Enhanced Baseline Studies for Gibellini Vanadium Project in Nevada|
Tuesday, April 16, 2019 8:39 AM
VANCOUVER, BC / ACCESSWIRE / April 16, 2019 / Prophecy Development Corp. ("Prophecy" or the "Company") (TSX: PCY, OTCQX: PRPCF, Frankfurt: 1P2N) is pleased to announce that it has submitted, through its wholly owned US subsidiary, the requisite baseline studies for its Gibellini Vanadium Project located in Eureka County, Nevada, USA to both the Bureau of Land Management (BLM) and the Nevada Division of Environmental Protection (NDEP).
In consultation with the BLM and NDEP, Prophecy is working with contractors to collect supplemental baseline data that will update and confirm the existing data sets. That work is set to be completed in May.
The Enhanced Baseline Report format, made with guidance from the BLM, is designed to identify potential resource conflicts early in the project timeline. Doing so will allow measures to be taken to avoid and/or minimize such conflicts and ensure an up-front project planning that is sensitive to all environmental resources.
Mine Plan of Operations
These baseline studies will be the foundation for the Mine Plan of Operations (MPO). The MPO, which is already under development, describes the concept-level design for the all proposed mine operations and the possible effects of those operation on the environment. Specifically, the MPO outlines scheduling, equipment, operating facilities, water usage, air emission, process design, and access. The MPO also provides a detailed reclamation and closure plan pertaining to any disturbances that might result from operations. This allows the BLM to assess the project in detail and, in coordination with the operator and appropriate agencies, expedite the EIS process. Prophecy intends to submit its MPO by July 2019.
Engineering for heap leaching, the processing facility, and the mine design (M3 Engineering and Newfields Companies, LLC) is being integrated into to the site Closure Plan. This facilitates concurrent closure of the heap as each heap cell is finished leaching. This will allow the Closure Plan to be implemented during operations. At the end of active mining, the site can be closed at minimal technical risk. This reduces the closure duration and liability and the commensurate reclamation bond.
The Company has signed a 10-year water lease agreement (WLA) with the owner of a private ranch located approximately 5 miles from the project. The WLA can be extended for any number of additional 7-year terms, not to exceed a total of 99 years (including the primary term). The Gibellini Project requires a modest maximum flow rate of 500 gallons per minute (gpm) from the ranch that represents less than 20% of the water rights for the ranch.
The WLA provides, as the source of water, surface springs located on the private ranch, thus eliminating the need to appropriate water rights from the Nevada Division of Water Resources. The Gibellini Project has completed water-related baseline studies that cover the quantity and quality of both surface and groundwater at the site, surrounding areas and the ranch water supply. Since the baseline studies have been completed, Prophecy expects to expedite any permitting process. See Company press release dated August 20, 2018.
A small amount of uranium will be produced as a by-product at Gibellini (approximately 1% in volume relative to the vanadium production volume) with minute concentrations arising during the vanadium purification process. As uranium concentration and extraction occur only at a single stage within the process design, the uranium permit footprint is confined to a small portion of the process facility. This will be overseen by the Nevada Department of Health rather than the Federal Nuclear Regulatory Commission and results in a significantly reduced regulatory permitting timeline.
With the implementation of the Nevada Sage Grouse Conservation Credit System (CCS), Prophecy has conducted an extensive baseline habitat condition survey. It will use the Habitat Quantification Tool to calculate the number of debits required to mitigate any direct and indirect impacts to sage grouse habitat. Prophecy intends first to avoid and minimize impacts to habitat, and second to either develop or purchase credits to mitigate any remaining impacts.
"The Prophecy team is working diligently with the support of the federal and state regulators and is actively engaging all stakeholders in order to obtain all the state and federal permits so that we can begin construction of North America's first producing primary vanadium deposit. We are on track to initiate the EIS process after the Notice of Intent is published, which will be a milestone in permitting the Gibellini Project," notes Ron Espell, VP Environment and Sustainability. "It will represent the starting point of a well-defined 12-month process under the Department of the Interior's Secretarial Order No. 3355 that shareholders will be able to mark on their calendars."
Michael Doolin, Prophecy's CEO and COO, observes, "The State of Nevada is the best jurisdiction for mining investment in the world, according to Fraser Institute. The deposit is critical as Gibellini's annual production profile of 9.65 million lb. of V2O5 outlined in the independent preliminary economic assessment is sufficient to meet United States current vanadium consumption requirement."
Qualified Persons and QA/QC
The technical contents of this news release have been prepared under the supervision of Danniel Oosterman, VP Exploration. Mr. Oosterman is not independent of the Company in that he is employed by the Company. Mr. Oosterman is a Qualified Person ("QP") as defined by the guidelines in NI 43-101.
Prophecy is developing the Gibellini project – the only large-scale, open-pit, heap-leach vanadium project of its kind in North America. Located in Nevada, Gibellini is currently undergoing EPCM and permit development. Further information on Prophecy can be found at www.prophecydev.com.
PROPHECY DEVELOPMENT CORP.
ON BEHALF OF THE BOARD
Chief Executive Officer
For more information about Prophecy, please contact Investor Relations:
+1.604.569.3661 ext. 101
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Some statements in this news release are about future events and performance. Such statements are based on current estimates, predictions, expectations, or beliefs. The subjects of the statements include, but are not limited to, (i) the PEA representing a viable development option for the project; (ii) construction of a mine at the project and related actions; (iii) estimates of the capital costs of constructing mine facilities, bringing the mine into production, and sustaining the mine, together with estimates of the length of financing payback periods; (iv) the estimated amount of future production, of both [raw material?] and metal recovered; and (vi) estimates of the life of the mine and of the operating and total costs, cash flow, net present value, and economic returns, including internal rate of return from an operating mine constructed at the project. All forward-looking statements are based on Prophecy's or its consultants' current beliefs and assumptions, which are in turn based on the information currently available to them. The most significant assumptions are set forth above, but generally these assumptions include: (i) the presence and continuity of vanadium mineralization at the project at the estimated grades; (ii) the geotechnical and metallurgical characteristics of the rock conforming to the sampled results; (iii) infrastructure construction costs and schedule; (iv) the availability of personnel, machinery, and equipment at the estimated prices and within the estimated delivery times; (v) currency exchange rates; (vi) vanadium sale prices; (vii) appropriate discount rates applied to the cash flows in the economic analysis; (viii) tax rates applicable to the proposed mining operation; (ix) the availability of acceptable financing on reasonable terms; (x) projected recovery rates and use of a process method, which although well-known and proven with other commodity types, such as copper, has not been previously brought into production for a vanadium project; (xi) reasonable contingency requirements; (xii) success in realizing proposed operations; and (xiii) assumptions that the project's environmental approval and permitting is forthcoming from county, state, and federal authorities. The economic analysis is partly based on Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA based on these Mineral Resources will be realized. Currently there are no Mineral Reserves on the Gibellini property. Although the Company's management and its consultants consider these assumptions to be reasonable, given the information currently available to them, they could prove to be incorrect. Many forward-looking statements are made assuming the correctness of other forward-looking statements, such as statements of net present value and internal rates of return. Those statements are based in turn on most of the other forward-looking statements and assumptions made herein. The cost information is also prepared using current values, but the time for incurring the costs is in the future and it is assumed costs will remain stable over the relevant period.
These factors should be considered carefully, and readers should not place undue reliance on forward-looking statements by Prophecy or its consultants. Prophecy and its consultants believe that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove correct. In addition, although Prophecy and its consultants have attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. Prophecy and its consultants undertake no obligation to publicly release any future revisions of the forward-looking statements that reflect events or circumstances that occur after the date of this news release or reflect the occurrence of unanticipated events, except as expressly required by law.
SOURCE: Prophecy Development Corp.
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