| From: pstad60 | 6/6/2023 9:49:56 AM | | | | | | Stuhini Exploration Completes Acquisition of Ruby Creek Molybdenum Property
VANCOUVER, BC, June 6, 2023 /CNW/ - Stuhini Exploration Ltd. ("Stuhini" or the "Company") (TSXV: STU) (OTCPK: STXPF) is pleased to announce that it has completed the exercise of its option and now owns a 100% interest in the Ruby Creek project (the "Ruby Creek Project" or the "Property") located in northwestern British Columbia, Canada.
Pursuant to an option agreement dated July 29, 2019, as amended October 28, 2019 (the "Option Agreement") between the Company and Global Drilling Solutions Inc. ("Global Drilling"), Global Drilling granted the Company an option to acquire a 100% interest in the Property by issuing an aggregate total of 7,300,000 common shares of the Company ("Common Shares") and making aggregate cash payments of $1,060,000 to Global Drilling over a four-year term, subject to acceleration at the sole discretion of the Company, on such terms and conditions provided for in the Option Agreement (see news releases dated July 30, 2019 and November 20, 2019).
In accordance with the Option Agreement, prior to the date hereof, the Company had issued to Global Drilling an aggregate total of 5,550,000 Common Shares and has made cash payments to Global Drilling in an aggregate total amount of $420,000. The Board of Directors of the Company (the "Board") has unanimously determined that it is in the best interests of the Company to accelerate the final option payment (the "Final Option Payment") consisting of the issuance of 1,750,000 Common Shares and the payment of $640,000 to Global Drilling pursuant to the terms of the Option Agreement. The Company fulfilled the Final Option Payment and exercised its option to acquire the Property on June 5, 2023.
Mr. Dave O'Brien, President and Chief Executive Officer of Stuhini stated: "This is a milestone event for Stuhini given the potential of the Property and the leverage we believe it provides on the molybdenum space. The Board voted unanimously to complete the exercise of the option for the Property early in order to attain 100% ownership because we believe that it positions the Company more favourably to search for a potential suitor or strategic partner. The price of molybdenum, based on the LME Platts Molybdenum futures prices, has more than doubled since we first optioned the Property. The Board also considers that the remaining of 26,989 hectares of the Property outside of the 2,466-hectare lease associated with the molybdenum deposit is prospective for base and precious metals and provides additional potential value to the Property beyond the molybdenum resource.
Early Warning Disclosure:
Global Drilling is beneficially owned by Barry Hanslit, a co-founder of the Company and the vendor of the Property. Immediately prior to the Final Option Payment, Mr. Hanslit beneficially owned or controlled 6,800,000 Common Shares representing approximately 15.2% of the outstanding Common Shares on an undiluted basis. Immediately after the completion of the Final Option Payment, Mr. Hanslit beneficially owned or controlled 8,550,000 Common Shares, representing approximately 18.4% of the outstanding Common Shares on an undiluted basis, representing an increase in holdings of approximately 3.2%.
Mr. Hanslit has advised the Company that the Common Shares are being held for investment purposes. Mr. Hanslit has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other factors that Mr. Hanslit considers relevant from time to time.
A copy of the applicable early warning report will be filed on behalf of Mr. Hanslit on the Company's profile on SEDAR and may also be obtained by contacting Mr. Hanslit at (604) 639-2278, 8621 Forest Ridge Drive, Whistler, BC V8E 0G1.
Ruby Creek Project:
The 29,479-hectare Ruby Creek Project is road accessible and located 14 kilometres (km) east of Atlin, British Columbia ("BC"). There are 48 different documented mineral occurrences on the Property, of which 16 are gold-related, with 7 significant gold placer creeks. The Property also hosts the Ruby Creek Molybdenum deposit, which hosts a measured and indicated pit constrained resource of 433 million lbs molybdenum using US$15.00 per lb molybdenum prices and a 0.02% cut-off grade.1 Stuhini owns 100% of the Ruby Creek Project.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties in western Canada and south-western USA. The Company's portfolio of exploration properties includes: its flagship, the Ruby Creek Project located approximately 14 km east of Atlin, BC; the Que Project located approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property located approximately 57 km south of Revelstoke, BC; and a portfolio of properties in south-east Arizona.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Ehsan Salmabadi, P. Geo. Vice President Exploration, is the Qualified Person for the Company and has also validated and approved the technical and scientific content of this news release.
1
| See "Technical Report, Ruby Creek Project, Northern British Columbia, Canada" effective March 10, 2022 and dated April 22, 2022 authored by Steven Ristorcelli, C. P. G., Peter Ronning, P. Eng., Finley Bakker, P. Geo., and John Eggert, P. Eng.
|
For further information:
David O'Brien, President & Chief Executive Officer,
Telephone: (604) 835-4019,
Email: dobrien@stuhini.com
Source:
https://www.newswire.ca/news-releases/stuhini-exploration-completes-acquisition-of-ruby-creek-molybdenum-property-812388748.html
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| From: pstad60 | 6/6/2023 12:41:03 PM | | | | | | With the completion of the final option payment for the Ruby Creek Project announced this morning, the share structure is now roughly :
Current shares issued and outstanding as of June 6, 2023 :
46,279,594 common shares and 8,355,128 warrants
(2,260,066 warrants exercisable @ $0.60 expiring August 2024)
(2,001,092 warrants exercisable @ $0.35 expiring December 20, 2024)
(1,071,020 warrants exercisable @ $0.35 expiring January 13, 2025)
(3,022,950 warrants exercisbale @ $0.50 expiring March 20, 2025)
If all of the warrants are eventually exercised the oustanding shares would be 54,634,722.
If all warrants are exercised, the company would received approx $5,942,753 in cash.
.
.
The best example of how undervalued Stuhini shares are is to refer to the last acquisition of a molybdenum
deposit which occurred in October 2022 by Zijin Mining Group
www1.hkexnews.hk
The purchase price of RMB5.61 Billion worked out to approx US$0.16 / lb in the gournd .
When Zijin Miming completed the acquisition of the Shapinggou molybdenum mine, molybdenum was trading just below US$20.00 / lb.
.
.
Stuhini has a pit constrained resource of 476.5 million lbs of moly in the ground in measured, indicated
and inferred categories
If a major mining firm was interested in buying the Ruby Creek moly deposit outright,
using Zijin Mining's purchase price of US$0.16 / lb would equate to :
US$0.16 X $1.34 exchange rate X 476.5 million lbs = C$102,161,600
C$102,161,600 / 54,634,753 shares O/S (warrants fully exercised) = C$1.87 / share
for the Ruby Creek Moly deposit which is now 100% owned by Stuhini with the completion of the final option payment announced this morning.
Current moly prices are currently trading above that level :
lme.com
1 month contract : US$22.95 / lb
2 thru 15 month : UIS$22.42 / lb
Daily Spot :
dailymetalprice.com
US$23.53 / lb
.
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| From: pstad60 | 8/12/2023 1:04:07 AM | | | | | | New Interview with Stuhini CEO Dave O'Brien
Posted on August 10.
˜500M lbs of Molybdenum in Canada | Stuhini Exploration CEO Interview
m.youtube.com
Just over 1 hour in length
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| From: pstad60 | 9/6/2023 9:15:40 AM | | | | | | Stuhini Exploration Announces OTCQB Listing and DTC Eligibility
VANCOUVER, BC, Sept. 6, 2023 /CNW/ - Stuhini Exploration Ltd. ("Stuhini" or the "Company") (TSXV: STU) (OTCQB: STXPF) is pleased to announce that its common shares are now quoted for trading on the OTCQB venture market (the "OTCQB") under the symbol "STXPF". The Company has also received The Depository Trust Company (the "DTC") eligibility in the United States, thus allowing the Company's stock to be more easily traded by and accessible to US institutional and retail investors.
Dave O'Brien, Company President and CEO stated: "We have experienced strong US investor interest over the past year, with several US based investors participating in our most recent financing. Accordingly, we are pleased to have been quoted for trading on the OTCQB Venture Market and to have received DTC eligibility, both of which will aid in our goal of increased visibility and share liquidity for both existing and new US based shareholders."
The OTCQB allows early stage and developing companies the benefit of being publicly traded in the United States. Eligible companies must be current in their financial reporting, pass a minimum bid test and undergo an annual verification and management certification process.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a US based company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible".
The Company also announces it has recently joined the International Molybdenum Association (the "IMOA") and Company chairman Tony Fogarassy is presently attending and representing Stuhini at the 2023 IMOA Annual General Meeting being held in Santiago Chile. The IMOA is non-profit trade association representing the molybdenum industry.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties in western Canada and south-western USA. The Company's portfolio of exploration properties includes: its flagship, the Ruby Creek Project located approximately 14 km east of Atlin, BC; the Que Project located approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property located approximately 57 km south of Revelstoke, BC; and a portfolio of properties in south-east Arizona.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to increased visibility and share liquidity in the United States. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, fluctuations in metal and commodity prices, market prices and exchange rates, failure to obtain permits, and continued availability of capital and financing, and general economic, market or business conditions. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company's prospectus. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE Stuhini Exploration Ltd.
View original content to download multimedia:
newswire.ca
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| To: pstad60 who wrote (107) | 12/10/2023 12:25:44 PM | | From: pstad60 | | | | STUHINI PROVIDES EXPLORATION UPDATE ON VOLCANIC CREEK MOLYBDENUM TARGET
Vancouver, Canada – November 28th, 2023 – Stuhini Exploration Ltd. (the “Company” or Stuhini”) (TSX-V: STU and OTCQB:STXPF) is pleased to provide an update on 2023 exploration at its Volcanic Creek Molybdenum target, part of its Ruby Creek Project (the “Project” or “Property” or “Ruby Creek”) located 14 kilometres (km) east of Atlin, BC. The target is located approximately 4 km north of the Company’s flagship Ruby Creek Molybdenum Deposit.
Summary
- 9 rock grab samples taken ranging from 1.01 % molybdenum (“Mo”) to 0.017 % Mo.
- Mineralization style similar to Ruby Creek.
- Up to 900 meters (m) distance between outcrops with significant Mo mineralization.
View fullsize
Note that rock grab samples are selective by nature and values reported may not represent the true grade or style of mineralization across the target area.
Dave O’Brien, Stuhini’s President and CEO commented: “The presence of extensive molybdenum mineralization 4 km north of the Ruby Creek Molybdenum Deposit further exhibits the prospectivity of the Ruby Creek Project. We are excited to explore this target in the hopes of adding an additional satellite deposit within close proximity to the Ruby Creek Molybdenum Deposit we currently have.”
Mineralization consists of coarse rosettes in quartz veins and molybdenum veinlets analogous to those at the Ruby Creek Molybdenum Deposit found in float and outcrop. Mineralization is hosted in older rock units than the Ruby Creek Molybdenum Deposit but is likely to be similar in age to the Ruby Creek Molybdenum Deposit. The Company plans to follow up in the summer of 2024.
About Volcanic Creek Molybdenum Target
The Company acquired the Volcanic Creek Molybdenum target by staking 848.1 hectares (“ha”) in 1 new claim block contiguous to the north of its existing Ruby Creek tenures in February 2023 (see February 17, 2023 new release). The new claim, which was consolidated into the Company’s Ruby Creek Project, is situated in the headwaters of Volcanic Creek and is referred to as the “Volcanic Creek Moly” showing in BC Minfiles. Previous historic exploration work reported mineralization at surface and includes two drill holes drilled by Placer Development Ltd. in 1981. Hole DDH 81-1 intersected 24.38 m of 0.066% molybdenum disulfide (“MoS2”) (0.040% Mo) starting at a depth of 33.53 m, including 6.10 m of 0.14 MoS2 (0.082 % Mo).
QA/QC protocol: Rock material was collected in poly bags and then transported to the Bureau Veritas sample preparation facility located in Whitehorse, Yukon. Samples were crushed, and then pulps were sent to the Bureau Veritas lab in Vancouver for assay. Four acid digestion and Ultratrace ICP-MS analysis for 59 elements and fire assay for gold were performed on all samples. Over-limit copper, lead, zinc and silver samples were analyzed by multi-acid digestion and ICP-ES (MA370). Over-limit tungsten was analyzed with lithium borate fusion XRF (XF750). Silver samples >1500 g/t were also analyzed by fire assay (FA530) and lead samples >10% with titration (GC817). Over-limit tungsten (“W”) was analyzed with lithium borate fusion XRF (XF750). Conversion to WO 3 % = W % x 1.2616. All results have passed the QA/QC screening by the lab.
Ruby Creek Project: The 29,479-hectare Ruby Creek Project is road accessible and located 14 kilometres (km) east of Atlin, British Columbia (“BC”). There are 48 different documented mineral occurrences on the Property, of which 16 are gold-related, with 7 significant gold placer creeks. The Property also hosts the Ruby Creek Molybdenum deposit, which hosts a measured and indicated pit constrained resource of 433 million lbs molybdenum using US$15.00 per lb molybdenum prices and a 0.02% cut-off grade. [1] Stuhini owns 100% of the Ruby Creek Project subject to a 1% NSR.The geological content of this news release has been reviewed and approved by Ehsan Salmabadi, P. Geo., and VP Exploration and Project Development of Stuhini, a qualified person as defined under the terms of National Instrument 43-101.
The geological content of this news release has been reviewed and approved by Ehsan Salmabadi, P. Geo., and VP Exploration and Project Development of Stuhini, a qualified person as defined under the terms of National Instrument 43-101.
[1] See “Technical Report, Ruby Creek Project, Northern British Columbia, Canada” effective March 10, 2022 and dated April 22, 2022 authored by Steven Ristorcelli, C. P. G., Peter Ronning, P. Eng., Finley Bakker, P. Geo., and John Eggert, P. Eng.
About Stuhini Exploration: Stuhini, a mineral exploration company, is focused on exploration and development of precious and base metals properties in western Canada and the southwest United States. The Company’s portfolio of exploration properties includes the flagship Ruby Creek Property, 14 km east of Atlin, BC; the Que Project, 70 km north of Johnson’s Crossing, Yukon; the South Thompson Nickel Project, 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property, 57 km south of Revelstoke, BC; and a portfolio of 2 properties in southeast Arizona.
For further information please contact:
David O’Brien
President & Chief Executive Officer
Stuhini Exploration Ltd.
Email: dobrien@stuhini.com
Phone: (604) 835-4019
Web: www.stuhini.com
Source : stuhini.com
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| To: pstad60 who wrote (108) | 12/10/2023 12:37:35 PM | | From: pstad60 | | | | Stuhini Exploration provides an update at Volcanic Creek Molybdenum target, Ruby Creek Project in BC
Posted on November 28, 2023
m.youtube.com
Included is an approx 2 minute update from CEO Dave O'Brien .
6:35 minutes in length
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| From: pstad60 | 2/8/2024 12:11:08 PM | | | | | | Stuhini Exploration will, once again, be attending PDAC from March 3 thru Mar 6 2024.
Booth 3018
pdac.ca
.
Stuhini will also be presenting again at this year's Metals Investor Forum in Toronto on March 1 and 2, 2024
metalsinvestorforum.com
.
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| From: pstad60 | 2/28/2024 10:00:39 AM | | | | | | Stuhini to attend PDAC and Metals Investor Forum and Provides Corporate Update
VANCOUVER, BC, Feb. 28, 2024 /CNW/ - Stuhini Exploration Ltd. (the "Company" or "Stuhini") (TSXV: STU) (OTCQB: STXPF) is pleased to announce it will be attending both the Prospectors and Developers Conference ("PDAC") and Metals Investor Forum ("MIF") in Toronto in early March, and wishes to provide a Corporate update on its Ruby Creek Project ("Project") and explorations plans for 2024.
Exploration
The Company plans to conduct geophysical work to help delineate drill targets on the Volcanic Creek molybdenum porphyry target located 4 km north of its flagship Ruby Creek molybdenum deposit (see news release dated November 28, 2023).
Exploring Opportunities Within the Sector
Given Stuhini's present cash balance and the current challenging environment in the mineral exploration sector, the Company is reviewing and considering other opportunities within the sector.
Successful Ruby Creek Permit Change of Ownership
Stuhini also wishes to announce that it has received notification from the British Columbia ("BC") Ministry of Energy, Mines and Low Carbon Emission ("EMLI") of the Ruby Creek Permit # M-231 Amendment, approving change of ownership from the previous operator, Global Drilling Solutions, to Stuhini. This successful permit transfer permit pertains to Stuhini's early completion of the Ruby Creek Option agreement whereby the Company now owns 100% of the Project (see news release dated June 6, 2023).
Environmental Baseline Review
The Company recently completed a desk-based review of existing environmental and heritage resource information and data to inform the potential initiation of select field studies for the Project. The Environmental Assessment Certificate ("EAC") that was granted to the previous operator for the Ruby Creek Molybdenum Project in 2006 has lapsed and since that time, Federal and Provincial legislation, regulations, policies and guidance have undergone significant changes. The Company engaged Environmental Dynamics Inc (EDI) to outline these changes and how they affect the Project's permitting, including baseline environmental programs, development, and operations. The Company will use this information to guide future work on the Project.
Critical Minerals Discussion paper
The Company applauds the EMLI keynote AMEBC Roundup speech, specifically mentioning molybdenum ("Mo") and its importance as a critical metal in the green economy of BC. Prior to the announcement, Stuhini made a submission to the BC government reminding EMLI that BC was the only producer of Mo within Canada and requesting that Mo be considered as a green energy constituent that is eligible for enhanced tax credits provincially and for the assistance of EMLI in getting Mo eligible for enhanced federal tax credits as well. Click the Link for access to the article.
news.gov.bc.ca
PDAC and Metals Investor Forum in Toronto
Stuhini also advises that it will be attending both PDAC and MIF in Toronto, Ontario in early March. Dave O'Brien (Chief Executive Officer and), Ehsan Salmabadi (VP–Exploration and Development) and Charles Kamimura (Corporate Secretary) will be attending both events and be available to meet with investors and potential partners. We cordially invite you to visit with Company representatives Sunday March 3rd through Wednesday March 6th, 2024 at Booth #IE 3018 at PDAC at the Metro Toronto Convention Centre. Stuhini will also be presenting and will have a display booth at the pre PDAC MIF, taking place March 1-2, 2023 at the Delta Hotel located on 75 Lower Simcoe Street, Toronto.
For more information or to register for PDAC or MIF, please visit:
pdac.ca
metalsinvestorforum.com
Dave O'Brien, Stuhini's President and CEO commented: "Given current market conditions and our $1.4 million cash balance, we are taking a measured approach to exploration while at the same time investigating new opportunities to leverage our share structure and cash on hand."
About Volcanic Creek Molybdenum Target
The Company acquired the Volcanic Creek Molybdenum target by staking 848.1 hectares ("ha") in 1 new claim block contiguous to the north of its existing Ruby Creek tenures in February 2023 (see February 17, 2023 new release). The new claim, which was consolidated into the Company's Ruby Creek Project, is situated in the headwaters of Volcanic Creek and is referred to as the "Volcanic Creek Moly" showing in BC Minfiles. Previous historic exploration work reported mineralization at surface and includes two drill holes drilled by Placer Development Ltd. in 1981. Hole DDH 81-1 intersected 24.38 m of 0.066% molybdenum disulfide ("MoS2") (0.040% Mo) starting at a depth of 33.53 m, including 6.10 m of 0.14 MoS2 (0.082 % Mo). A follow up program of prospecting in the summer of 2023 reported 9 rock grab samples taken with grades ranging from 0.017% Mo to 1.01% Mo, and mineralized outcrops with up to 900 meters distance between them.
Ruby Creek Project
The 31,126-hectare Ruby Creek Project is road accessible and located 14 kilometres (km) east of Atlin, BC. There are 48 different documented mineral occurrences on the Property, of which 16 are gold-related, with 7 significant gold placer creeks. The Property also hosts the Ruby Creek Molybdenum Deposit, which hosts a measured and indicated pit-constrained resource of 433 million lbs Mo using US$15.00 per lb Mo price and a 0.02% cut-off grade.[1] Stuhini owns 100% of the Project subject to a 1% NSR.
About Stuhini Exploration
Stuhini is a mineral exploration company focused on exploration and development of precious and base metals properties in western Canada and the southwest United States. The Company's portfolio of exploration properties includes the flagship Ruby Creek Property, 14 km east of Atlin, BC; the Que Project, 70 km north of Johnson's Crossing, Yukon; the South Thompson Nickel Project, 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property, 57 km south of Revelstoke, BC; and the Lindsay Project in southeast Arizona.
The geological content of this news release has been reviewed and approved by Ehsan Salmabadi, P. Geo., and VP Exploration and Project Development of Stuhini, a qualified person as defined under the terms of National Instrument 43-101.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to a potential additional satellite molybdenum deposit near the Ruby Creek Molybdenum Deposit, conducting geophysical work at Volcanic Creek, potentially enhancing economies of scale of the Ruby Creek Project or successfully securing additional projects. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, fluctuations in metal and commodity prices, market prices, failure to obtain permits, and continued availability of capital and financing, and general economic, market or business conditions. In particular, there is no guarantee that exploration work, as proposed, or otherwise, will be completed on the Project or any other property. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company's prospectus. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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.
1. See "Technical Report, Ruby Creek Project, Northern British Columbia, Canada" effective March 10, 2022 and dated April 22, 2022 authored by Steven Ristorcelli, C. P. G., Peter Ronning, P. Eng., Finley Bakker, P. Geo., and John Eggert, P. Eng.
Contact:
David O'Brien, President & Chief Executive Officer, Stuhini Exploration Ltd.,
Email: dobrien@stuhini.com,
Phone: (604) 835-4019,
Web: www.stuhini.com
Source:
newswire.ca
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| To: pstad60 who wrote (111) | 3/3/2024 1:23:59 PM | | From: pstad60 | | | | I think Stuhini's share price would get a significant boost if a strategic partner invested in
Stuhini to move this basically “shovel ready” molybdenum deposit forward.
During the last moly price cycle, this moly deposit was the only one that had a positive
decision to go into production by the former operator Adanac Moly Corp. Adanac even
obtained an $800 million credit facility to fund construction, just before the 2009 credit
crisis hit and moly prices dropped from +$30/lb to less than $10/lb . The road upgrades
completed back in 2008 cost approx $22 million, which is more than double the current
market cap of Stuhini at just under $9 million with roughly 46 million shares outstanding
At the current time however, preserving cash seems to be the prudent thing to do.
No sense diluting the share structure much more with an already well delineated pit
constrained 476 million pound open pit molybdenum deposit in measured, indicated
and inferred resources.
Personally, I would eventually like to see a number of deeper holes punched into the
ground in the area of drill hole AD417 which bottomed out in 45 meters of 0.23% moly.
If further high grade intercepts were encountered, It might go a long way in establishing
the potential for an underground mining component in addition to the proposed open pit
at Ruby Creek.
Also note that the AD 417 drill hole is outside the current pit constrained resource.
Having a strategic partner enter the picture for a 10% or 20% stake in Ruby Creek could
see the environmental studies and permitting updated to current, and potentially fund some
drilling in the AD 417 drill hole area and deeper, to see just how much larger and how far
down the high grade zone goes.
Also of interest is the potential for a satellite moly deposit at Volcanic Creek ... potentially
like the "cluster" of moly deposits that Freeport mines at their Climax and Henderson operations.
jobs.fcx.com
Looking at Moon River Capital’s recent PEA, their CAPEX came in at $575 million including
a $108 million in contingency funding to mine and process a high grade underground resource
of approximately 44 million tonnes grading 0.21% moly at a 7000 tpd rate with OPEX still coming
in just under $10.00 / lb.moly.
What would Stuhini's CAPEX and OPEX be for their Ruby Creek open pit with approx. 8-9 times
the tonneage in their current pit constrained resource estimate at roughly 1/4 the grade ?
Moon River Capital retained A-Z Mining Professionals Ltd. (AMPL) to prepare their Sept 2023
Technical Report for their Davidson moly project .
Note on page 10 "Introduction 2.0" of that Technical Report that Stuhini's V.P of Exploration
Ehsan Salmabadi was involved with the preparation of that AMPL Technical Report .
wp-moonrivermoly-2023.s3.ca-central-1.amazonaws.com
AMPL was also hired by Moon River Capital to prepare the recently released Feb 2024
Preliminary Economic Assessment for Davidson.
moonrivermoly.com
With Ehsan Salmabadi's participation in the AMPL studies for Moon River, I would have to believe
that Stuhini’s V.P of Exploration should have a very good working knowledge of the current costs
for CAPEX, as well as OPEX, at Stuhini's Ruby Creek Project.
Will be meeting with CEO Dave O’Brien and his Stuhini management team at PDAC tomorrow.
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| From: pstad60 | 3/7/2024 11:22:14 PM | | | | | | Chen Lin interview with Stuhini CEO Dave O'Brien recorded
during the Toronto Metals Investor Forum on March 2, 2024.
m.youtube.com
8:30 minutes in length
Stuhini CEO Dave O'Brien's presentation from March 2 , 2024 at the
Toronto Metals Investor Forum.
m.youtube.com
13 minutes in length.
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