| From: pstad60 | 1/31/2023 11:53:23 AM | | | | | | Stuhini Exploration about more than just molybdenum
With the Ruby Creek moly deposit being their flagship asset, keep an eye on the molybdenum
futures contract prices continuing to move higher.
lme.com
Current 1 month contract : US$31.93 / lb
2 to 15 month contracts : US$33.67/ lb
US$33.67 X 477 million lbs = US$16,060,590,000 in ground value
or
US$33.67 X $1.34 exchange rate X 477 million lbs = C$21,521,190,600
At the current moly quote, just over C$215 billion in ground value for Stuhini's Ruby Creek "pit
constrained" 477 million lb moly resource
If Stuhini sold the deposit for only 1% of the inground value it would be roughly $215 million.
If all warrants were fully exercised there would be approx 43.8 million Stuhini shares outstanding
..... roughly C$4.90 per share in value at current moly price.
.
If this were a gold deposit it would be equivalent to 8.3 million oz of gold:
US$16,060,590,000 / US$1920 / oz = 8,364,900 oz au deposit
If this were a silver deposit, it would be equivalent to almost 680 million oz of silver.
US$16,060,590,000 / US$23.65 / oz = 679,094,714 oz silver
.
Stuhini Exploration is absurdly under priced for the underlying asset value of its known
molybdenum resource. The moly deposit is in all likelihood much larger.
.
When Adanac Molybdenum Corp controlled this property, they had a market cap in excess
of C$300 million when moly prices were last at these levels in 2007-08.
.
By comparison Stuhini's market cap is only C$18 million.
.
The Ruby Creek moly deposit is very advanced. Adanac Moly Corp produced a Feasibility
Study in 2007, and subsequently obtained an $800 million credit facility to begin development
of a processing plant at Ruby Creek, just prior to the credit crisis in 2009. Moly prices collapsed,
placing Adanac into creditor protection and eventual bankruptcy. One of the co-founders of
Stuhini picked up the Ruby Creek Project and vended the property into Stuhini in 2019.
.
Stuhini is not just a moly play, The Ruby Creek Project also hosts prospects for gold and silver
as well. The company also has another gold prospect, the Que project in southern Yukon, a zinc
play at their Big Ledge Project near Revelstoke B.C, a nickel prospect in the South Thompson
Nickel Belt of Manitoba, and some recently added gold, copper/gold prospects in Arizona.
The company has previously reported some extrememly high grade silver and gold samples
at other locations on their Ruby Creek project.
STUHINI EXPANDS ADERA ZONE TARGET AND SAMPLES UP TO 5681 G/T AG AT RUBY
CREEK ADERA CORRIDOR
stuhini.com
STUHINI EXPLORATION DISCOVERS NEW HIGH-GRADE SILVER MINERALIZATION,
SAMPLING UP TO 456 OZ/TONNE (14,179 G/T) SILVER
stuhini.com
STUHINI IDENTIFIES GOLD TARGET AREAS AT RUBY CREEK AND SAMPLES UP
TO 121 G/T GOLD
stuhini.com
STUHINI IDENTIFIES NATIVE GOLD WITH COPPER, SILVER AND TUNGSTEN IN BOTH
HISTORICAL DRILLING AND CURRENT SURFACE SAMPLING WITHIN THE SURPRISE
LAKE BATHOLITH, ATLIN, BC, CANADA
stuhini.com
STUHINI IDENTIFIES HIGH-GRADE SILVER MINERALIZATION AT SILVER SURPRISE
AND DAYBREAK, SAMPLING UP TO 16,030 G/T SILVER
stuhini.com
.
CEO Dave O'Brien has mentioned in a couple of interviews in 2022 that he would like to spin
off the molybdenum project into a separate entity and form a new exploration company with
the remaining highly prospective areas of Ruby Creek, and their other projects.
Stuhini Exploration (STU) - Focus on World Class Molybdenum Project
youtube.com
Talk about splittng the company up begins around the 6 minute mark until 12 minutes .
Stuhini Exploration (STU) - Technical Analysis & Due Diligence
youtube.com
Discussion of spinning off the moly deposit off from the rest of the exploration assets occurs
in a couple of places, first mention is around the 2:45 mark, the more in-depth discussion of
a plan of arrangement / spin off / strategic partnership begins around the 44 minute mark.
.
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| From: pstad60 | 2/1/2023 9:17:13 PM | | | | | | Molybdenum prices continue climbing - supply deficits expected for next three years
2 - 15 month contract US$35.35/lb
1 month contract US$36.20
lme.com
The in ground value of Stuhini's Ruby Creek pit constrained 477 million lb moly resource is now over C$22.3 Billion.
US$35.35 x $1.3275 exchange rate x 477 million lbs = C$22,384,238,625
Stuhini market cap sits at $18 million.
______________________________________________________
Molybdenum Prices Hit a 17-Year High with Persistent Tight Supply
SHANGHAI, Jan 31 (SMM) - As The Supply Deficit Of Molybdenum Extends, Molybdenum Prices At
Home And Broad Both Hit New Highs.
In China, on January 29, a mining company in Luanchuan, Henan Province bid to sell molybdenum
concentrate at a record-high weighted average price of 5,305 yuan/mtu.
As of January 30, the prices of molybdenum concentrate reportedly returned to the 5,450 yuan/mtu,
a high point once seen in October 2005. In fact, the domestic molybdenum concentrate prices to date
have gained 6.78 times compared to November, 2015.
Due to the impact of the covid-19 and power rationing, the domestic molybdenum concentrate
output declined in 2022, while the overseas output also diminished due to aggressive production
cuts of overseas mines. Therefore, the molybdenum concentrate inventory in the third quarter of
2022 posted a significant decline. Recently, steel mills have a strong demand to replenish
molybdenum concentrate, driving the prices of molybdenum to soar.
Looking ahead, Huatai Securities believes that the molybdenum supply shortage will extend in
2023-2025, and the molybdenum prices are likely to trend higher.
On the supply side, the annual global molybdenum concentrate supply in 2023-2025 will see an
increase of no more than 15,000 mt compared with 2021. As we know, the molybdenum output
is stable from 2017 to 2021 at about 260,000 mt/year. China, as the world's largest supplier of
molybdenum, contributed to 38% of the global supply in 2021. However, the global molybdenum
output in 2022 is estimated at 246,800 mt due to production cuts at overseas mines and the
declining grade of molybdenum ore.
In forecast, the new molybdenum capacity around the globe will be small during 2023-2025. It is
estimated that the annual global molybdenum production in 2023-2025 will stand at 267,700,
273,700, 275,700 mt respectively.
On the demand side, the global demand may increase slightly from 2023 to 2025, and the market
supply may continue to be in shortage. It is estimated that the annual shortfall in supply will be
24,100, 26,400, and 34,300 mt in 2023-2025.
Source : news.metal.com
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| From: pstad60 | 2/3/2023 8:39:54 AM | | | | | | Asia ferromolybdenum breaches $95/kg on strong demand as supply dwindles
HIGHLIGHTS
Asia Ferromolybdenum trades as high as $98.85/kg
Conversion facilities booked up until March: trader
Supply expect to remain tight in first quarter
Asian ferromolybdenum prices hit a new peak of $94-$96/kg, the highest level since Platts Asia
weekly pricing began, jumping $19.75/kg, or 26%, on the week, amid heightened demand from
China and continued market tightness arising from supply disruptions.
The S&P Global Commodity Insights Ferromolybdenum CIF Asia Weekly price moved up to a
record $94/kg-$96/kg Feb. 2, from $75/kg-$75.25/kg Jan. 26.
Prices surged in the week to Feb. 2 as Chinese demand returned stronger than expected
following the Lunar New Year holidays, market participants said, further constricting the already
tight global ferromolybdenum complex driven by short covering in Europe.
"The market expected China to return strong, but not at the levels we are seeing now. We were
originally hopeful that China might export some ferromolybdenum out as prices in Europe are
much higher but domestic demand returned stronger than expected with little room for export,
" a North Asia trader said, adding that in the previous week ferromolybdenum was trading at
a $10-$15 discount to Europe, but prices had quickly risen in Asia with little room for arbitrage.
Market participants largely expect demand in China to remain strong, with participants reporting
over 10,000 mt of ferromolybdenum traded in the month of
January, higher than previously expected, with majority of the market away for one or two weeks
for Lunar New Year.
"Returning on Saturday from the festive break, prices were originally driven by high EU prices
but currently the surge is driven by domestic demand, which has taken us by surprise too," a
Chinese trader said, adding that domestic prices had risen sharply over the week, with trades
climbing from Yuan 298,000/mt ($44,298/mt) to well over Yuan 380,000/mt and with bids as
high of Yuan 390,000/mt heard rejected.
In the week to Feb. 2, offers were heard to be in the range of $91-$100/kg, with most deals
heard happening in the same range. This was still slightly lower than European prices with
Platts, part of S&P Global Commodity Insights, assessing Ferromolybdenum 65% European
in warehouse Rotterdam price at $102-$106.5/Kg on Feb. 1.
"Units are tight now, nobody wants to sell...as it will be hard to replace units sold with conversion
capacities booked till March -- if you need units you have no choice but to pay up," an international
trader said.
"The conversion premium is good now, and with such high prices we should by right see more
supply in the market. However due to the lack of prompt conversion capabilities and low inventory
levels with the majority of the traders destocking over the November-to-January period, there is
a void of cheap offers in the market," another international trader said, echoing the view of a tight
global supply complex.
Prices are expected to stay elevated with a confluence of market factors constricting supply
flows for ferromolybdenum such as stronger-than-expected demand from the offshore sector
and continued upstream molybdenum concentrates disruption in Chile and Peru, coupled with
historically low inventory levels as prices hit an all-time high, market sources said.
The Platts Daily Dealer molybdenum oxide assessment was $36.50/lb-$39/lb, with a midpoint
of $37.75/lb Feb. 2., up from $36.50/lb-$37/lb Feb 1, data from S&P Global showed.
Market participants also reported further upside potential for molybdenum oxide prices as at
current prices, the ferromolybdenum conversion premium remains well into double digits.
During Asian trading hours Feb. 2., there were reports of trades within the $38-$39/lb range,
higher than the $36-$38/lb deals reported Feb 1.
Continued upstream disruptions
Molybdenum, typically a byproduct of copper mining, is also seeing the impact of unexpected
disruptions in the copper mining sector in South America, on top of an expected structural
deficit in 2023.
A fire at Chile's Ventanas port in December 2022 hit shipments of molybdenum-producing mines
including Andina and Los Bronces, and there has been no confirmation on when operations will
return to normal. Seasonal swells along the Chilean coast have also compounded worries on
further shipment delays.
Meanwhile, protests in Peru following the ousting of former president Pedro Castillo have shown
little signs of easing, forcing some mines to halt production, including Glencore's Antapaccay and
MMG's Las Bambas. Concerns loom on whether the protests will spread to other regions and
cause further disruption, leading to more volatility in the molybdenum market.
Source:
spglobal.com |
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| From: pstad60 | 2/9/2023 3:10:27 PM | | | | | | Northern MIner interviews Stuhini CEO Dave O'Brien
Exclusive video: Stuhini CEO on molybdenum’s ‘dramatic’ price move and the Ruby Creek project
Posted on Feb 7, 2023
northernminer.com
Approximately 5 minutes in length
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| From: pstad60 | 2/10/2023 11:45:10 AM | | | | | | Molybdenum Market Outlook for 2023 - 2033
.
As of Feb 10, 2023
Daily spot price for molybdenum remains firm at US$40.82 / lb
dailymetalprice.com
Contract prices for molybdenum
1 month : US$37.26
2 - 15 month : US$37.88
lme.com
.
Ruby Creek moly deposit 477 million lbs X US$40.82/lb = US$19,471,140,000 in ground value
Stuhini market cap 38.4 million shares o/s X $0.50 = C$19.2 million
_____________________________________________________
Molybdenum Market Outlook (2023 - 2033)
The Molybdenum market size is projected to be valued at US$316 Billion in 2023 and is expected
to rise to US$500 Billion in 2033. The sales of molybdenum are expected to grow at a significant
CAGR of 4.7% over the forecast period. Various factors propelling the demand for molybdenum are :
For remainder of article :
futuremarketinsights.com
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| From: pstad60 | 2/16/2023 4:20:55 PM | | | | | | 4 Key Factors Driving Perfect Storm in Molybdenum Markets
As of close Feb 16, 2023
Current Spot Price for Moly remains at US$40.82/lb as it has since Feb 1
dailymetalprice.com
Current 1 month moly contract ... US$37.23 / lb
2 - 15 month moly contracts ....... US$36.18 / lb
lme.com
____________________________________________________________
4 key factors driving the ‘perfect storm’ in molybdenum markets
Featuring
Michael Greenfield Benjamin Steven
Commodity Metals
Recent volatility has generated record highs in global molybdenum markets, with both acute
and fundamental factors operating to drive prices beyond the expectations of market participants.
Ferromolybdenum prices surged 18% Jan. 30, up $15/kg on the day, a record high since Platts
started publishing the price in February 1987 – 36 years ago. The Platts Ferromolybdenum 65%
European in-warehouse Rotterdam price moved up to $99/kg-$104/kg Jan. 30, from $85/kg-$88/kg
the previous day. Platts is part of S&P Global Commodity Insights.
This is the most recent in a series of price spikes, where the market moved sharply on day-on-day,
but molybdenum market participants are uncertain about the factors driving volatility.
European prices did not immediately correct, surging higher to $103/kg-$105.55/kg Jan. 31 and
staying above $100/kg until Feb. 6 when it was assessed at $98.5/kg-$99/kg.
Molybdenum oxide global vs Ferromolybdenum EU prices 2022-23
The last time European ferromolybdenum prices hit triple figures was May 26, 2005, when it was
assessed at $97/kg-$101/kg. The price rise was attributed to a supply contraction due to the closure
of mines in Huludao in China following a fatal industrial accident. The supply issue was accentuated
by a roasting capacity bottleneck outside of China.
This time, however, there has been no comparable black swan event, with end-consuming
industries supporting market fundamentals.
FeMo premium basis oxide and conversion costs 2022-23
Even on generous conversion calculations given rising energy prices and disruptions to supply
chains in 2022, recent ferromolybdenum prices have traded at a large premium to their theoretical
value to the oxide input, with multiple factors at play to drive prices to record highs.
So how did we get here?
Demand volatility
Demand for moly-bearing carbon steel from the offshore drilling sector has stayed strong, as
offshore drilling activity has remained high due to elevated oil prices.
In the US, prices for oil country tubular goods have softened only because of seasonality. Winter
usually results in reduced drilling rig counts in the Gulf of Mexico, and there is widespread belief
in the OCTG market that rig counts may recover quickly in the spring.
However, not everyone is seeing demand positively. Some European stainless steel producer
sources said their consumption remains down 30% against pre-COVID 19 levels.
More generally, market participants described how poor demand toward the end of 2022
restricted settlements of long-term contracts with producers, forcing consumers to the spot
market in December and the first quarter to cover better-than-expected demand through the
new year.
"At the end of last year we were pessimistic due to the energy crisis and the risk of recession,
" a mining source said. "Many consumer did not commit volumes on yearly contracts and they
went to spot. You see people asking for more material, but it is not there. Production-wise, the
molybdenum market is struggling."
This was compounded by issues with materials being released from one trader on Jan. 30 – the
day of the unprecedented price rise.
A warehousing company restricted the release of this material, meaning customers could not
access around 200 mt to 300 mt of their already-purchased units. These customers then flocked
to the spot market with deadline-based demand. A correlative 300mt traded on Jan. 30 and
captured by the Platts pricing team during the time of this blockage. This was layered on top
of an already-tight market.
Molybdenum oxide spot market liquidity
Supply deficits
There have been four price spikes of $4/kg or more in a single trading day since October 2022, with
the market describing this period of historic high prices as "a perfect storm".
Some observers believe the current market has been years in the making. The major primary
molybdenum mines have remained idled since around 2015, contributing to shortages.
In addition, no significant secondary molybdenum production from primary copper mining has
come online since Las Bambas began producing in early 2016. There are no new mines in any
advanced state of planning or permitting, let alone under construction – and the supply deficit is
unlikely to get resolved in the near- to medium-term.
Disruptions at key mines
Civil unrest in Peru have forced some mines to suspend operations. Peru has been experiencing
unrest since the former president Pedro Castillo Terrones was impeached and removed from office
in December 2022.
The Las Bambas shutdown followed the suspension of production at Glencore's Antapaccay copper
mine in Peru Jan. 20, after protestors damaged vehicles and set fire to a workers' building in the
mine's camp.
"We are watching the situation in Peru and the civil unrest, which I believe is might not improve for
even the entire year," a molybdenum miner said.
Some sources believe the Las Bambas could have a greater impact than previously seen,
because previous protests have enabled the mine to continue operating and stockpile concentrate.
This time, the mine has stopped producing. Others are muted about the effect given Las Bambas
has witnessed multiple issues in its short operational life.
Production issues in Europe
Issues with European production have further squeezed supply chains.
Climax Molybdenum in Rotterdam, a subsidiary of Freeport-McMoRan, had a brief unplanned
roaster shutdown in December 2022. The company said this has been resolved.
"The lack of metallurgical feed delayed some deliveries to metallurgical customers.
We are rebuilding inventory levels for both metallurgical and chemical production,"
Freeport-McMoRan spokesperson Linday Hayes said.
Reduced availability in Rotterdam inflated achievable prices for traders, especially given the
short covering that has characterized the market in recent months.
"We are offering over the top of the range as we don't have any material. If we have no material,
then other market participants will have only one truck," one European trader said.
"We have nothing prompt until mid-February. Our first sales for January deliveries already
ettled in December and when prices are shooting up, the consumers buy in, so there was a
lot of opportunity to sell the first half of February."
The trader alluded to the logistical issues in Rotterdam in recent weeks.
"If one trader is under embargo and the market is short five to seven containers, that means the
market is shooting up $15 kg on a small number of lots," the source said. "This shows how tight
the market is."
This tightness is somewhat self-fulfilling, as traders are more inclined to protect the units they hold.
"Volatility in the recent market means that long traders are also unwilling to let go of units cheap in
fear of missing out on any further gains," a trader said. "This leads to very few offers in the market
with buyers forced to pay high premiums to secure necessary material."
With reports from Elton Lim and Anthony Poole
Source:
spglobal.com
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| From: pstad60 | 2/17/2023 4:30:25 PM | | | | | | Vancouver, Canada – February17th, 2023 – Stuhini Exploration Ltd. (the “Company” or Stuhini”)
(TSX-V: STU USA: STXPF) is pleased to announce it has staked additional mineral claims contiguous
with its Ruby Creek Project (“Project” or “Property”) located 14 kilometres (“km”) east of Atlin, BC
and wishes to provide a Corporate and Exploration Update.
The Company has acquired by staking 848.1 hectares (“ha”) in 1 new claim block contiguous to
the north of its existing Ruby Creek tenures. The new claim, which will be 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
reports molybdenum (“Mo”) mineralization at surface and includes two drill holes drilled by
Placer Development Ltd. in 1981. Hole DDH 81-1 intersected 24.38 metres (“m”) of
0.066% MoS2 (0.040% Mo) starting at a depth of 33.53 m, including 6.10 m of 0.14 MoS2
(0.082 % Mo).
Dave O’Brien, Company President and CEO, stated: “Given the recent notable rise in the price
of molybdneum, we are excited to pick up more prospective molybdenum ground contiguous
with our Ruby Creek Deposit, especially given the known historical occurrence.”
In other news, the Company has received all assay results from its summer intrusion gold drill
program. No significant gold or silver intercepts were encountered to warrant additional follow-up
at this time.
Stuhini also advises that it will be attending both the Metals Investor Forum and the Prospectors
and Developers conference(PDAC) in Toronto, Ontario between March 3-8. Dave O’Brien (Chief
Executive Officer and President), Ehsan Salmabadi (VP–Exploration) and Charles Kamimura
(Corporate Secretary) will be available to meet with investors and potential partners upon request.
We cordially invite you to visit with Company representatives Sunday March 5th through Wednesday
March 8th, 2023 at Booth # 3018 within the Investors Exchnge at the 2023 PDAC Convention to be
held at the Metro Toronto Convention Centre.
Stuhini will also be presenting and will have a dislay booth at the pre PDAC Metals Investor Forum
taking place March 3-4, 2023 at the Delta Hotel located on 75 Lower Simcoe Street, Toronto.
QA/QC protocol: All assay samples were collected from HQ and NQ core, sawn in half with a
diamond saw with the sample intervals marked by technical personnel. The split core material
was collected in poly bags and then transported to the Bureau Veritas sample preparation facility l
ocated in Whitehorse, Yukon. Samples were crushed, and then pulps were sent to the Bureau
Veritas lab in Vancouver, BC for assay. Each sample was assayed for gold by 50-gram fire assay
FA350-Au as well as by 4 acid digest ICP-ES MA200 for a suite of 45 elements. A full QA/QC
program using blanks, standards and duplicates was utilized to monitor analytical accuracy and
precision. QA/QC samples consisted of one certified Standard Reference Material and one
certified blank of unmineralized material per 20 split core samples. Duplicate samples are
repeat analysis of designated primary sample pulps. All results have passed QA/QC screening
by the lab.
Ruby Creek Project: The 29,479 ha Ruby Creek Project is road accessible and located 14 km
east of Atlin, BC. There are 49 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 Resource, which has an intact BC Mines Act permit. Stuhini has
an option to acquire 100% of the Ruby Creek Project subject to a 1% Net Smelter Royalty
The geological content of this news release has been reviewed and approved by Ehsan
Salmabadi, P. Geo., a qualified person as defined under the terms of National Instrument 43-101.
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 4 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
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.
Source:
newswire.ca
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| From: pstad60 | 2/23/2023 11:16:06 AM | | | | | | Stuhini Exploration Ltd. Announces up to $1,600,000 Private Placement with Lead Order from Eric Sprott
VANCOUVER, BC, Feb. 23, 2023 /CNW/ - Stuhini Exploration Ltd. (the "Company" or "Stuhini") (TSXV: STU) (OTCPK: STXPF) is pleased to announce a non-brokered private placement ("Private Placement") of up to 4,000,000 units of the Company ("Units") at a price of $0.40 per Unit (the "Issue Price") for gross proceeds to the Company of up to $1,600,000 The Company is pleased to advise that Eric Sprott has agreed to purchase $1,000,000 of Units under the Private Placement.
Dave O'Brien, Company President and CEO, stated: "We are very pleased with Mr. Sprott's continued support as a key shareholder. His investment is a strong endorsement for the Ruby Creek Molybdenum deposit as well as the outlook for molybdenum going forward. The price of molybdenum has tripled since the summer of 2021, and we believe the Ruby Creek Project is a world class deposit." See news release dated March 15, 2022 announcing the molybdenum mineral resource estimate and technical report dated April 22, 2022 filed on SEDAR.
Each Unit will consist of one common share (each a "Common Share") of the Company and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant is exercisable into one Common Share at a price of $0.50 per Common Share for a period of two years following the closing of the Private Placement.
The net proceeds of the Private Placement will be used: (i) to fund the final cash payment of $640,000 under the option agreement pursuant to which the Company was granted a right to acquire a 100% interest in the Ruby Creek Property; and (ii) for general exploration, corporate and administrative expenses.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSXV. All securities to be issued pursuant to the Private Placement will have a hold period of four months and one day from the closing of the Private Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 southwestern USA. The Company's portfolio of exploration properties includes its flagship, the Ruby Creek Property located approximately 20 km east of Atlin, British Columbia, 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 and the Big Ledge Property located approximately 57 km south of Revelstoke, British Columbia, as well as its portfolio of 4 properties in southeast Arizona.
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.
Source:
newswire.ca
Contact:
David O'Brien, President & Chief Executive Officer, Stuhini Exploration Ltd.,
Email: dobrien@stuhini.com,
Phone: (604) 835-4019;
Web: www.stuhini.com
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| From: pstad60 | 3/2/2023 8:56:28 AM | | | | | | Stuhini Exploration Ltd. Announces Increase of Private Placement to $1,900,000
VANCOUVER, BC, March 2, 2023 /CNW/ - Stuhini Exploration Ltd. (the "Company" or "Stuhini") (TSXV: STU) (OTCPK: STXPF) is pleased to announce that, due to demand from potential investors, its non-brokered private placement announced on February 23, 2023 has been increased by $300,000 for total aggregate gross proceeds to the Company of up to $1.9 million (the "Private Placement").
The Private Placement will consist of units of the Company ("Units") at a price of $0.40 per Unit. Each Unit will consist of one common share (each a "Common Share") of the Company and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant is exercisable into one Common Share at a price of $0.50 per Common Share for a period of two years following the closing of the Private Placement.
In connection with certain subscriptions under the Private Placement, the Company may pay finders' fees in cash of up to 6% of the gross proceeds from the sale of Units placed by the finder and issue finder's warrants entitling the finder to purchase such number of Common Shares that is equal to up to 6% of the number of Units placed by the finder ("Finder's Warrants"). Each Finder's Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.50 per Common Share for a period of two years following the closing of the Private Placement.
The terms of the Private Placement and the proposed use of proceeds are otherwise as previously disclosed in the Company's news release dated February 23, 2023.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange. All securities to be issued pursuant to the Private Placement will have a hold period of four months and one day from the closing of the Private Placement.
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 southwestern USA. The Company's portfolio of exploration properties includes: its flagship, the Ruby Creek Property located approximately 20 km east of Atlin, British Columbia; 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, British Columbia; and its portfolio of 4 properties in southeast Arizona.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward–looking statements concern, without limitation, the terms and anticipated closing of the Private Placement and the intended use of proceeds therefrom. Such forward–looking statements or information are based on a number of assumptions any of which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; timing and amount of capital expenditures; favorable weather conditions including but not limited to snow, rainfall and forest fires, and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward–looking statements as a result of risk factors including, but not limited to: the availability of funds; the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Forward–looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 (93) | 3/2/2023 10:30:37 AM | | From: pstad60 | | | | Re: Stuhini Private Placement Increased to $1,900,000
Based on today's news release :
newswire.ca
If the financing is fully subscribed, along with the announcement last week that the final option payment of the Ruby Creek Project will be made with funds from this placement, the share structure of Stuhini will be approximately :
44,917,094 shares issues and o/s
7,707,178 warrants exercisable at $0.35, $0.50 and, $0.60
52,624,272 shares on a partially diluted basis
Molybdenum pricing remains firm with daily spot price at US$43.54 / lb.
dailymetalprice.com
With 477 million lbs of moly in a pit constrained measured, indicated and inferred resource, the current inground value of Stuhini's Ruby Creek moly deposit is about C$28 Billion.
Stuhini's share price remains extremely undervalued. Current matket cap is about $22 million .
When moly prices were at this level back in 2008, the former operator of Ruby Creek, Adanac Moly Corp, had a market cap of C$300 million.
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