Description
The securities of Adisyn Ltd (‘AI1’) will be placed in trading halt at the request of AI1, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 4 November 2024 or when the announcement is released to the market.
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Matt Geiger, managing partner at MJG Capital Fund, spoke about the health of the junior mining sector as gold continues to run, acknowledging that explorers haven’t moved as much as investors might like.
However, in his view, that may bode well for their future performance.
‘One could argue that the fact that we’re seeing it play out in this manner could suggest that this move is going to be more long lasting and drawn out than those exciting but flash-in-the-pan rallies that we’ve seen in years past,’ he said.
‘I do think we’ve turned an inflection point — I would say in late September, early October.’
He also shared tips on how to determine which juniors to invest in, saying that management is the main factor he evaluates, along with asset quality, company structure and funding to progress toward catalysts.
Geiger pays less attention to the commodity a company is focused on, saying it’s at the bottom of his list.
‘The urge is to go out and find that hot commodity … I really do not think, unless you have exquisite market timing, that this is the way to succeed as an investor in the junior patch,’ he said. ‘The factor that I look at very last is the metal.’
Watch the interview above for more from Geiger on due diligence and trends in the resource space.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Silver is a notoriously volatile metal capable of wide price swings in either direction.
However, the metal is also seen by many as a safe-haven investment and a hedge against inflation. While investing in silver bullion is one popular method for gaining exposure, silver-mining companies offer another route.
Silver-mining companies with strong balance sheets and experienced management teams are able to capitalize on high silver prices and weather the storm of low silver prices. Some of the most profitable silver-mining companies are even able to offer investors dividends, which may be appealing for those who are in it for the long haul.
Dividends are especially attractive in the often-unstable mining sector because they give investors a degree of security — if a company pays a dividend, it generally feels that it has the cash to do so, and believes it will have the ongoing profits it needs to keep those payments coming.
There are several dividend-paying silver stocks for investors to choose from. The companies below are ordered by dividend yield, and all data is current as of October 24, 2024.
TSX market cap: C$12.84 billion
NYSE market cap: US$9.19 billion
Dividend yield: 1.54 percent
Founded by Ross Beaty in 1994, Pan American Silver currently operates four primary silver mines, which are located in Mexico, Peru, Bolivia and Argentina. It also has a portfolio of gold mines that also contribute silver production.
Last year, Pan American Silver completed the successful acquisition of Yamana Gold, bringing the latter’s four producing Latin American precious metals assets into Pan American’s portfolio.
The company’s 2023 silver production came in at 20.4 million ounces alongside 882,900 ounces of gold. For Q1 2024 and Q2 2024, output reached a combined total of 9.58 million ounces of silver and 225,700 ounces of gold. Production is expected to increase in the second half of the year.
The highest dividend Pan American has ever paid is US$0.125 per share, and it was able to pay a dividend of that amount a noteworthy nine times in a row between March 18, 2013, and March 13, 2015. The silver stock paid its most recent quarterly dividend on August 30, 2024, at US$0.10 per share.
LSE market cap:GBP 3.82 billion
Dividend yield: 1.11 percent
Major miner Fresnillo bills itself as the world’s leading primary silver producer and a significant gold producer. Its precious metals operations are all located in Mexico, include the Fresnillo mine, which is the largest primary silver mine in the world. It also holds a portfolio of exploration prospects in the country and silver streaming contracts.
Fresnillo’s attributable output from its mines for the full-year 2023 came to 53.5 million ounces of silver and 610,600 ounces of gold. The company’s reported mine production for the the first three quarters of the year comes to 41 million ounces of silver and 427,631 ounces of gold.
This silver stock pays two dividends per year, and its dividend policy takes business profitability and underlying earnings growth into account, as well as capital requirements and cash flow. Dividends from the company are paid in pounds sterling unless shareholders elect to be paid in US dollars. Fresnillo paid its 2024 interim dividend of 5.0063 pence, or US$0.064, on September 17, 2024.
TSX market cap: C$42.34 billion
NYSE market cap: US$30.45 billion
Dividend yield: 0.88 percent
Wheaton Precious Metals is a well-known name in the silver space largely because of its business model — it is the world’s biggest precious metals streaming company. Streaming companies operate differently from miners, making upfront payments to a variety of metals companies in order to gain the right to purchase all or a portion of their metal production at a low, fixed cost.
The company currently has streaming agreements in place for 18 operating mines and 27 development-stage projects. It is interested in companies operating in politically stable jurisdictions, and states that its value should rise with the price of silver and gold. As a result, Wheaton sees itself offering investors multiple benefits while reducing many of the downside risks that traditional miners face.
Wheaton has paid out a dividend US$0.15 per share three times so far in 2024, with the latest on September 4, 2024.
TSX market cap: C$1.43 billion
NYSE market cap: US$1.02 billion
Dividend yield: 0.52 percent
Silvercorp Metals operates the Gaocheng and Ying silver-mining operations in China, and is focused on acquiring and growing underdeveloped projects with high upside.
Its fiscal year 2024 silver equivalent production came in at approximately 6.8 million ounces, down 2 percent from the previous year. The company has reported a total of 3.4 million ounces of silver equivalent production over the first and second quarters of its fiscal year 2025.
Silvercorp offers shareholders a semiannual dividend, which it states is “based on a number of factors including commodity prices, market conditions, financial results, cash flows from operations, expected cash requirements and other relevant factors.” Its most recent dividend was paid on June 27, 2024, at a rate of US$0.0125 per share.
NYSE market cap: US$4.4 billion
Dividend yield: 0.45 percent
Last on this list of silver stocks that pay dividends is Hecla Mining, the largest primary silver producer in the US and Canada and the third largest in the world. The oldest precious metals miner in North America, Hecla owns the Greens Creek and Lucky Friday silver mines in Alaska and Idaho, US, and the Keno Hill mine in the Yukon, Canada. It also operates the Casa Berardi gold-silver mine in Québec, Canada.
With the acquisition of Alexco Resource in 2022, Hecla gained its position in the Keno Hill silver district, which has Canada’s highest-grade silver reserves. The following year, Hecla acquired ATAC Resources, giving it control of the Rackla and Connaught properties in the Yukon.
Hecla reported 2023 production of 14.3 million ounces of silver and 151,259 ounces of gold. As for 2024, the company produced a combined 8.65 million ounces of silver and 74,822 ounces of gold through the first two quarters. The Keno Hill mine is currently ramping up to commercial production.
Hecla pays an annual minimum common stock dividend, distributing it on a quarterly basis. The silver stock also pays a silver-price-linked common stock dividend based on the company’s average realized silver price for the preceding quarter.
On September 5, 2024, Hecla paid out a quarterly cash dividend of $0.01375 per share of common stock ($0.00375 per share for the minimum dividend component plus $0.01 per share for the silver-linked component). Then, on September 16, it paid a quarterly cash dividend of $0.875 per share of preferred stock.
Dividend stocks regularly pay a sum of money to a class of shareholders out of the company’s earnings. To qualify for a dividend payout, an investor must have owned the stock on the ex-dividend date.
Dividends are often issued as cash payments sent to a shareholder’s brokerage account, but can also be issued as stock or discounts on share purchases.
Contact your broker to learn more about how to take advantage of companies offering dividend programs. Some dividend stocks may also offer a dividend reinvestment program, allowing shareholders to automatically buy new shares with their dividends, either commission-free or at a reduced cost.
A company’s board of directors is responsible for setting a dividend policy and will determine the size of the dividend payout based on the firm’s long-term revenue outlook.
The size of an individual shareholder’s dividend payout depends on the number of shares owned in that company. For example, if an investor owned 1,000 shares of Wheaton Precious Metals, which is currently paying a dividend of US$0.15 per share, they would get US$150 every quarter — or US$600 annually.
There are no physical backed Silver ETFs with dividends. However, ETFs that track dividend-paying silver stocks such as those listed above may offer the potential for dividend income. A few examples of are Global X Silver Miners ETF (ARCA:SIL), and IShares MSCI Global Silver Miners ETF (BATS:SLVP).
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
In her view, it’s only a matter of time before both precious metals are squeezed higher.
‘We’ll see, but it wouldn’t surprise me to see the spot market break US$3,000 (per ounce) by the end of this year,’ she said about gold, adding that silver could finish 2024 at the US$50 per ounce level.
Zang also shared her thoughts on soaring US debt and America’s latest bank failure.
‘I don’t believe that this is a one-off event — even the American Bankers Association doesn’t believe that this is a one-off event,’ she said in reference to the closure of the Oklahoma-based First National Bank of Lindsay.
‘I think that it speaks to a much bigger issue,’ Zang added. ‘It goes back again to that debt wall, which is really a global issue. And all of the corporations and governments that have to roll over debt that they can’t afford at this level, that they took out at much lower interest rate levels. So it only adds to the woes, to be honest with you.’
In closing, she emphasized how important it is for people to become as independent and self-sufficient as possible, focusing on security in food, water, energy, barterability, wealth preservation, shelter and especially community.
‘I’ve been doing just what I’ve talked about … since 2008, when I knew the system died. We don’t have that luxury of time anymore. We are at the absolute end. I can’t tell you the exact moment, but you better be prepared before that exact moment comes,’ she said, adding, ‘We’ve got to come together in community.’
Watch the interview above for more from Zang on the above, as well as her thoughts on the BRICS Summit.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Not for distribution to United States newswire services or for dissemination in the United States.
Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) (‘Grande Portage’ or the ‘Company’) is pleased to announce a non-brokered private placement of up to 10,000,000 units (each, a ‘Unit’) at a price of C$0.30 per Unit for aggregate gross proceeds of up to C$3,000,000 (the ‘Offering’). The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions (the ‘LIFE Exemption’) to purchasers resident in Canada, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. The Company has an offering document (the ‘Offering Document’) related to the Offering that can be accessed under Grande Portage’s profile at www.sedarplus.ca and on the Company’s website at https:grandeportage.com. Prospective investors should read the Offering Document before making an investment decision
Each Unit will consist of one common share in the capital of the Company (each, a ‘Common Share’) and one Common Share purchase warrant (each, a ‘Warrant‘). Each Warrant will entitle the holder thereof to acquire one additional Common Share at an exercise price of C$0.45 per Common Share for a period of 24 months from the date of issuance.
The Units issued in the Offering will not be subject to any statutory hold period in Canada, subject to limitations prescribed by the LIFE Exemption.
Insiders and certain other existing shareholders of Grande Portage may also subscribe for Units under the Offering.
Red Cloud Securities Inc. (the ‘Finder‘) will act as a finder for the Company in respect of the Offering on a best efforts basis. As compensation for its services, the Finder will receive cash compensation equal to 7% of the gross proceeds of the Offering raised by the Finder. The Finder will also receive non-transferable share purchase warrants (the ‘Finder Warrants‘) which will entitle the Finder to acquire such number of common shares as is equal to 7% of the number of Units placed by the Finder. The Finder Warrants will be exercisable at a price of $0.30 per share any time for a period of 24 months from the date of issuance.
Grande Portage intends to use the net proceeds of the Offering for furthering the exploration and development of its New Amalga Mine project in Alaska, including additional drilling, as well as general working capital purposes.
The Offering may close in multiple tranches, with the first tranche closing expected to occur on November 12, 2024, and the final closing to occur no later than November 30, 2024. The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the acceptance of the TSX Venture Exchange.
The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About Grande Portage:
Grande Portage is a publicly traded mineral exploration company focused on the New Amalga Mine project (formerly the Herbert Gold Project) situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the Herbert property. The New Amalga Mine property is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over eight million ounces of gold.
The Company’s updated NI 43-101 Mineral Resource estimate reported at a base case mineral resources cut-off grade of 2.5 grams per tonne gold (g/t Au) and consists of: an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes); and an Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes), as well as an Indicated Resource of 891,600 ounces of silver at an average grade of 5.86 g/t Ag (4,726,000 tonnes); and an Inferred Resource of 390,600 ounces of silver at an average grade of 7.33 g/t silver (1,813,000 tonnes).
ON BEHALF OF THE BOARD
‘Ian Klassen‘
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as ‘believes’, ‘anticipates’, ‘expects’, ‘estimates’, ‘may’, ‘could’, ‘would’, ‘will’, or ‘plan’. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company’s filings with Canadian securities regulators. There can be no assurance that such 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 information, whether as a result of new information, future events or otherwise, other than as required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
SOURCE: Grande Portage Resources Limited
View the original press release on accesswire.com
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Trading resumes in:
Company: Nuclear Fuels Inc.
CSE Symbol: NF
All Issues: Yes
Resumption (ET): 8:00 AM 10/31/2024
CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada .
SOURCE Canadian Investment Regulatory Organization (CIRO) – Halts/Resumptions
View original content: http://www.newswire.ca/en/releases/archive/October2024/30/c8120.html
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/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) (‘Nuclear Fuels’ or the ‘Company’) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Haywood Securities Inc. on behalf of a syndicate of underwriters (collectively, the ‘Underwriters’), pursuant to which the Underwriters have agreed to purchase, on a ‘bought-deal’ private placement basis, 20,000,000 units of the Company (the ‘Units’) at a price of $0.40 per Unit (the ‘Offering Price’) for gross proceeds of $8,000,000 (the ‘Underwritten Offering’).
Each Unit will consist of one common share of the Company (a ‘Unit Share’) and one-half of one common share purchase warrant (each whole common share purchase warrant, a ‘Warrant’). Each Warrant will entitle the holder to acquire one common share of the Company for 36 months from the closing of the Offering (as defined herein) at a price of $0.55 .
The Company shall grant the Underwriters an option to purchase up to an additional 5,000,000 Units at the Offering Price for additional gross proceeds of up to $2,000,000 (the ‘Underwriters’ Option’, and together with the Underwritten Offering, the ‘Offering’), exercisable at any time up to 48 hours prior to the closing of the Offering.
The net proceeds received from the Offering will be used to advance the Company’s uranium projects in the United States , as well as for working capital and general corporate purposes.
It is anticipated that closing of the Offering will occur on or about November 20, 2024 or such other date or dates as the Company and the Underwriters may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the Canadian Securities Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from the applicable closing date in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America . The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘1933 Act’) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Nuclear Fuels Inc.
Nuclear Fuels Inc. is a uranium exploration company advancing early-stage, district-scale In-Situ Recovery (‘ISR’) amenable uranium projects towards production in the United States of America . Leveraging extensive proprietary historical databases and deep industry expertise, Nuclear Fuels is well-positioned in a sector poised for significant and sustained growth on the back of strong government support. Nuclear Fuels has consolidated the Kaycee Wyoming district under single-company control for the first time since the early 1980s. Currently executing its second drill program at the Kaycee Project, the Company aims to expand on historic resources across a 35-mile trend with over 430 miles of mapped roll-fronts. The Company’s strategic relationship with enCore Energy Corp., America’s Clean Energy Company
, offers a mutually beneficial ‘pathway to production,’ with enCore retaining the right to back- in to 51% ownership in the flagship Kaycee Project in Wyoming’s prolific Powder River Basin.
W: www.nuclearfuels.energy
Forward-Looking Information
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as ‘may’, ‘should’, ‘anticipate’, ‘expect’, ‘potential’, ‘believe’, ‘intend’ or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to planned exploration programs and the results of additional exploration work in seeking to establish mineral resources as defined in NI 43-101 on any of our properties. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the completing planned exploration programs and the results of those programs; the ability to access additional capital to fund planned and future operations; regulatory risks including exploration permitting; risks associated with title to our mineral projects; the ability of the company to implement its business strategies; and other risks including risks contained in documents available for review at www.sedar.com under the Company’s profile. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE Nuclear Fuels Inc.
View original content: http://www.newswire.ca/en/releases/archive/October2024/30/c8058.html
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In addition, Horizon has received firm commitments for a placement to raise $14 million to support the expanded business.
HIGHLIGHTS
Logical consolidation of complementary assets in the Western Australian Goldfields
– The proposed transaction will consolidate Horizon’s large gold resource and Poseidon’s Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts.
– The combination provides a pathway for sustainable, long-term gold production and cashflow as an independent mid-cap producer.
Substantial resource base and regional tenure
– Combined JORC Mineral Resources of ~1.8Moz gold at an average grade of 1.84g/t Au and 422,700t nickel at an average grade of 1% Ni.
– Combined tenure of 1,309km2 in an attractive geological position in the WA Goldfields.
– A strong pipeline of production sources, Mineral Resource growth opportunities, advanced brownfield exploration targets and greenfield exploration opportunities.
Aligned strategy of using Poseidon’s Black Swan infrastructure to fast-track gold production
– Refurbishment of the front end of the Black Swan processing plant and conversion of the back end to facilitate gold production presents a significantly faster, lower capital pathway to gold production compared to building a new gold processing plant in the region.
– Horizon’s 465koz Burbanks and 428koz Boorara gold deposits form the cornerstone assets in a project pipeline aiming to deliver a 5-year mine plan to fill the Black Swan processing plant.
To view the Merger Presentation, please visit:
https://www.abnnewswire.net/lnk/DPBJR05Q
– Conversion of the Black Swan processing plant to a gold plant with throughput optionality will unlock latent value in Horizon’s portfolio and open up the region for toll milling and further consolidation.
Shared focus and ambition to become the next mid-tier gold producer
– Horizon aims to become a sustainable, 100kozpa standalone producer following the merger and conversion & recommissioning of the Black Swan processing plant.
Strategically positioned and permitted infrastructure
– In addition to the combined entity’s Kalgoorlie-Coolgardie gold assets, Lake Johnston and Windarra present highly strategic assets that have the ability to deliver further shareholder value.
– Situated in the southern Goldfields, the permitted Lake Johnston 1.5Mtpa processing plant and associated infrastructure presents an opportunity to develop a lithium processing hub in this emerging lithium province.
– Located in Laverton, Windarra’s water resource and gold tailings present highly strategic assets
Potential for re-rating based on enhanced scale and market relevance
– Enhanced trading liquidity and scale to drive increased market relevance, grow investor appeal and improved access to capital.
– Lower combined corporate overheads to enable greater focus on asset investment.
OVERVIEW
Pursuant to the terms of the Scheme Implementation Deed:
– each Poseidon shareholder will receive 0.1156 Horizon shares for every 1 Poseidon Share held (the Share Scheme);
– each holder of Poseidon options (other than a POS Incentive Option – see below) (Poseidon Options) will receive 0.1156 new Horizon options for every 1 Poseidon Option held (the Option Scheme and, together with the Share Scheme, the Schemes); and
– Poseidon, Horizon and each holder of POS Incentive Options will enter into a deed under which all of the relevant POS Incentive Options will be cancelled (or transferred to Horizon or its nominee) for cash consideration, with effect from the Implementation Date and conditional on the Scheme becoming effective (POS Incentive Option Deed). The POS Incentive Options are not subject to the Option Scheme.
The exchange ratio under the Share Scheme was based on a 40% premium to the 30-day volume weighted average price (VWAP) of $0.0042 per Poseidon share for the period up to 22 October 2024 that is $0.006. Based on the last trading price of Poseidon shares as at 22 October 2024, which was $0.006 and represents a 0% premium to the last traded price.
Following implementation of the Schemes, Horizon shareholders will own 69.8% of the Combined Group (defined below) while Poseidon shareholders will own the remaining 30.2%.
The Schemes are unanimously recommended by the POS Independent Board. Each member of the POS Independent Board intends to vote all Poseidon Shares they control in favour of the Share Scheme and all Poseidon Options they control in favour of the Option Scheme, subject to no Superior Proposal emerging and the Independent Expert concluding (and continuing to conclude) that the Schemes are in the best interests of Poseidon shareholders and holders of Poseidon Options, respectively.
Under the proposed transaction the combined group will have a global JORC Mineral Resource of ~1.8Moz of gold and ~422.7kt of nickel, as well as 1,309km2 of attractive exploration tenure and two strategically located processing facilities in Black Swan and Lake Johnston.
The Black Swan processing plant has a 2.2Mtpa nickel sulphide concentrator and associated infrastructure and is ideally located as a central processing hub for Horizon’s gold projects as well as for regional toll treatment opportunities. The Black Swan concentrator will also unlock value for Horizon’s high-grade Nimbus silver, zinc and gold project which contains 20.2Moz of silver, 78koz gold and 104kt of zinc.
The proposed transaction brings together complementary assets. A Feasibility Study on the refurbishment and conversion of the Black Swan processing plant to gold production from Horizon’s large baseload and satellite gold deposits will be undertaken. The Feasibility Study is expected to be completed in the second half of 2025 with first gold production from Black Swan currently targeted for mid-2026.
The conversion of the Black Swan processing plant for gold processing would utilise the existing crushing and grinding circuit and likely involve the addition of a carbon in leach (CIL) circuit, elution plant and gold room. The Black Swan plant is currently on care and maintenance and will require some refurbishment. Horizon’s Feasibility Study will provide an up-to-date estimate of the cost of completing this work.
The combined group of Horizon and Poseidon (the Combined Group) will be pursuing its growth strategy from a position of greater market scale, underpinned by an estimated pro-forma cash and listed investments balance of ~$19 million (inclusive of the Placement) and lower consolidated cost base. Following implementation of the Schemes, Poseidon will be delisted from the ASX and become a subsidiary of Horizon, and the Combined Group will continue to trade as Horizon Minerals Ltd under the ticker (ASX:HRZ).
Completion of the Schemes is targeted for late January / early February 2025. The Schemes remain subject to various customary closing conditions, including the approval of Poseidon shareholders, holders of Poseidon Options, and the Court, which are summarised below.
Commenting on the proposed merger, Horizon Managing Director Mr Grant Haywood said:
‘We believe this proposed merger represents a unique opportunity to unlock the value of our significant gold resource in the WA Goldfields and leverage strategically located processing infrastructure.
This really is a logical consolidation of complementary assets, delivering a near term and cost-effective processing pathway and creates greater potential for both sets of shareholders to create value from the cashflow generation potential of a long project pipeline and wholly owned processing infrastructure.
Outside gold, the merged nickel and silver assets enhances the respective asset values of both parties and retains full exposure for the combined shareholder group to crystalise value in any future sustained price upturn for these commodities.’
Poseidon Nickel CEO Mr Brendan Shalders commented:
‘The Schemes announced today are a pivotal step towards establishing a significant gold business and provides Poseidon shareholders and holders of Poseidon Options with an exciting opportunity to become part of an emerging gold producer at a time when the gold price is at all-time highs.
‘There is strong alignment between Poseidon’s strategy and that of Horizon, which is one of the core pillars underpinning this regional consolidation. Together we have greater capability to deliver on longer term cashflow generation from cornerstone operations fitting for an emerging mid-tier gold producer.’
To view the Merger Presentation, please visit:
https://www.abnnewswire.net/lnk/62XHIX4J
About Horizon Minerals Limited:
Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia’s richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE’s, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
Source:
Horizon Minerals Limited
Contact:
Grant Haywood
Chief Executive Officer
T: +61 8 9386 9534
E: grant.haywood@horizonminerals.com.au
Michael Vaughan
Media Relations – Fivemark Partners
T: +61 422 602 720
E: michael.vaughan@fivemark.com.au
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Doré Copper Mining is advancing high-grade projects in the Chibougamau region through a hub-and-spoke strategy centered around its flagship high-grade copper Corner Bay deposit, leveraging its unique advantage of owning the only mill in the area, while benefiting from supportive communities and existing infrastructures.
Doré Copper Mining (TSXV:DCMC,OTCQB:DRCMF,FRA:DCM) is a copper-gold exploration and development company, positioning itself as a near-term producer in the prolific Chibougamau region of Québec, Canada. With a clear strategic focus, Doré Copper Mining is actively advancing its assets toward production, taking advantage of its brownfields high-grade copper and gold projects, existing infrastructure, and supportive jurisdiction. The company’s overarching goal is to establish itself as Quebec’s next copper producer, with a hub-and-spoke mining strategy centered around its Copper Rand mill.
Doré Copper Mining’s operations are located in the Chibougamau mining camp, an area known for its historical copper and gold production, within the world-renowned Abitibi Greenstone Belt. The company’s flagship asset, Corner Bay, is complemented by several other projects, including Devlin, Joe Mann, Cedar Bay, and Copper Rand. These properties form the foundation of Doré Copper Mining’s near-term and future production plans.
The company is unique because it owns the only mill in the area. The Copper Rand mill is designed to process an average of 1,350 tonnes-per-day and will need to be refurbished. This infrastructure gives Doré Copper Mining a significant competitive advantage, both in terms of reducing capital expenditure requirements and potentially generating additional revenue streams by processing ore from third-party operations.
Québec, as a mining jurisdiction, provides strong support for mineral exploration and development. It ranks highly in the Fraser Institute’s rankings of mining-friendly jurisdictions, offering political stability, favorable tax incentives, and access to well-established infrastructure, including roads, rail, and power.
Doré Copper Mining is led by an experienced and highly skilled management team. Ernie Mast, the company’s president and CEO, has over three decades of experience in the mining industry, including leadership roles at companies such as Primero Mining and Minera Panama (Inmet Mining). Mast’s background in managing junior and small-cap mining companies is well-suited to Doré Copper Mining’s current development phase. The broader management and technical teams bring a wealth of operational expertise, with several individuals having extensive experience in exploration, project development, and mining operations in Canada and internationally.
Doré Copper Mining’s assets are located within a well-known copper and gold mining region, with a long history of production. The company’s current strategy revolves around a hub-and-spoke model, with the Copper Rand mill serving as the processing hub, fed by multiple satellite deposits. The key projects in the PEA include Corner Bay, Devlin, and Joe Mann. Other past producing mines, like Cedar Bay and Copper Rand, have further exploration potential.
Corner Bay is the cornerstone of Doré Copper Mining’s portfolio. This copper-gold deposit has demonstrated exceptional grades and exploration potential, positioning it as one of the highest-grade copper projects in North America. The latest resource estimate, as of 2022, includes 2.7 million tonnes of indicated resources at a grade of 2.66 percent copper and 5.8 million tonnes of inferred resources at a grade of 3.44 percent copper. The deposit remains open in several directions and at depth, suggesting that further drilling could potentially expand the resource base and extend the mine life.
Corner Bay is expected to be mined by longhole open stoping with pillars and Avoca underground mining methods. The project will utilize existing infrastructure, including a portal and decline to a depth of 115 meters. The ore will be processed at the Copper Rand mill, with pre-concentration of the material through ore sorting technology at the Corner Bay site.
The PEA for the project anticipates a mine life of over 10 years, with the potential to produce 53 million pounds of copper equivalent annually. Metallurgical testing at Corner Bay has yielded positive results, with copper recoveries ranging from 96.8 percent to 98.2 percent, and the concentrate is of high commercial quality, making it highly attractive to smelters.
Devlin is a smaller satellite deposit located approximately 10 kilometers west of Corner Bay. The project has a measured and indicated resource of 775,000 tonnes at a grade of 2.17 percent copper, along with an inferred resource of 484,000 tonnes at a grade of 1.79 percent copper. While Devlin’s size is modest compared to Corner Bay, it plays a crucial role in Doré Copper Mining’s hub-and-spoke mining strategy. Ore from Devlin will be transported to Corner Bay for pre-concentration, before being trucked to the Copper Rand mill for final processing. The company is planning to employ room-and-pillar and drift-and-fill mining methods at Devlin, with operations expected to commence shortly after Corner Bay comes online.
Cedar Bay is a past-producing mine located near the Copper Rand mill. It produced 3.9 million tonnes of ore at an average grade of 1.63 percent copper and 3.21 grams per tonne gold during its operating life. Doré Copper Mining drilling programs have defined in the southwest zone 130,000 tonnes of indicated resources at a grade of 9.44 grams per tonne gold and 1.55 percent copper, and 230,000 tonnes of inferred resources at a grade of 8.32 grams per tonne gold and 2,13 percent copper .
The Joe Mann gold-copper deposit is another component of Doré Copper Mining’s hub-and-spoke strategy. Located 60 km south of the Copper Rand mill, Joe Mann produced 1.2 million ounces of gold and 28 million pounds of copper over its mine life, at an average grade of 8.26 grams per tonne gold and 0.25 percent copper. The current resource estimate includes 608,000 tonnes of inferred resources, with an average grade of 6.78 grams per tonne gold and 0.24 percent copper. The PEA plan is to have Joe Mann operational once Devlin is depleted, and its ore will also be processed at the Copper Rand mill.
Copper Rand was historically the largest copper mine in the Chibougamau camp, producing over 16 million tonnes of ore during its operational life, which spanned from 1959 to 2008. The mine has excellent exploration potential, particularly at depth, where limited drilling was conducted before the mine’s closure. Copper Rand has historical reserves and resources, and excellent potential below previously mined areas.
Mario Stifano is a seasoned mining executive and chartered professional accountant with over 16 years of experience working with exploration, development and producing mining companies. Stifano is currently the chief executive officer of Galantas Gold. Stifano has held a number of senior executive positions including chief executive officer of Cordoba Minerals, executive chairman with Mega Precious Metals, vice president and chief financial officer with Lake Shore Gold, and vice president and chief financial officer of Ivernia. Stifano has been instrumental in raising over $700 million to explore and fund mining projects, including raising over $500 million at Lake Shore Gold, to develop three gold mines which are currently producing over 180,000 ounces of gold annually, and are now part of the Canadian assets within Pan American Silver.
Ernest Mast has 30 years of experience in various technical and executive roles in the mining industry, across a wide range of commodities, geographies and development stages. Mast is on the board of Scottie Resources. Mast previously held the positions of president and chief executive officer at Primero Mining, vice president of corporate development at Copper Mountain Mining, vice president of operations at New Gold and president and CEO of Minera Panama S.A., Inmet Mining Corporation’s subsidiary, developing the $6 billion Cobre Panama project. Mast began his career with Noranda and its affiliates, where he took on roles of increasing responsibility over a 20-year timeframe. Mast is a member of l’Ordre des ingénieurs du Québec and has a bachelors’ and masters’ degree in metallurgical engineering from McGill University. Mast also received post-secondary business training at Henley College in the UK and at the Universidad Catolica in Chile.
Gavin Nelson has over 15 years of finance experience in public practice and corporate accounting and reporting, including being responsible for all levels of financial reporting and day-to-day accounting oversight for several public mining exploration companies. Nelson has held a number of financial oversight positions in mineral exploration companies, including chief financial officer of Mexican Gold. Nelson is a member in good standing of the chartered professional accountants of Ontario. Nelson holds a Bachelor of Administrative and Commercial Studies (Finance), with a minor in Political Science, from the University of Western Ontario.
Nicholas Kwong, P.Eng., MBA, has more than 15 years of corporate, technical, operations experience in the mining industry, predominantly in gold and base metals in North American, Australia, Latin American and Saudi Arabia. Most recently, Kwong was general manager at Ma’aden Gold’s’ Sukhaybarat & Bulghah gold mines in Saudi Arabia. There he completed the mine and mill expansion and modernization which resulted in a significant increase in production and decrease in unit costs, all while controlling capital costs during the COVID-19 pandemic. Prior, he worked at New Gold from 2005 to 2019 in progressively responsible leadership and management roles, starting as a project engineer for the design and construction of the New Afton underground mine and gradually progressing to manager of mining engineering and director of technical services.
Kwong holds a Bachelor of Applied Sciences in Mining Engineering and a Master of Business Administration from the University of British Columbia.
Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; ‘ BRW ‘ or the ‘ Company ‘) is extremely pleased to announce that it has discovered a lithium-bearing pegmatite containing spodumene within the company’s Nuuk License, located roughly 90 kilometers north-east of Nuuk, the capital of Greenland (Figure 1). The newly discovered pegmatite outcrop is open in all directions and is part of a significant evolved pegmatite field measuring over 20 kilometers long known as the Ivisaartoq Field, marking the first confirmed lithium discovery in the country.
Mr. Killian Charles, President and CEO of BRW, commented: ‘We are delighted to announce the first hard rock lithium discovery in Greenland. This discovery was made near the end of our field season after spending limited time in the country and leveraged Brunswick’s strong exploration expertise. Prior to our discovery at Ivisaartoq, there were no confirmed showings in Greenland and it demonstrates the strong potential for additional discoveries across the entire country which has never been previously explored for lithium. Importantly, it represents a significant opportunity for the Company as we remain first movers for lithium exploration in Greenland.’
Figure 1: Location of Greenland Spodumene Discovery
‘Outcrop exposure and proximity to tidal water at Ivisaartoq and across our Greenland portfolio is exceptional. The country is one of the best mining and exploration jurisdictions globally with strong community and government support. We are thrilled to make the first of, hopefully, many more discoveries in Greenland alongside our flagship Mirage project with the goal of identifying lithium sources for both the North American and European supply chains.’
Nuuk License – Ivisaartoq Discovery
The Ivisaartoq pegmatite field is part of the larger Nuuk License, hosted within the Ivisaartoq Greenstone Belt. The trend is located roughly 90 kilometers northeast of Nuuk, the capital of Greenland, on the Western central coast of the country. This area of Greenland is part of the North Atlantic Craton that extends into Nunavut and Labrador. The belt is Mesoarchean in age and contains amphibolites, metasediments, ultramafics, genesis, gabbros, granites and pegmatites (Figure 2).
Figure 2: Geological Map of Ivisaartoq Greenstone Belt
The spodumene-bearing dyke was traced and interpreted to be roughly 400 meters with an exposed width of roughly 5 meters containing up to 50% centimetric green and white spodumene (Figure 3). The spodumene was confirmed by UV light as well as LIBS (‘Laser Induced breakdown spectroscopy’). The dyke is open in all directions and is part of a larger evolved dyke field containing several dozen pegmatites that are metric to kilometric in scale which remain to be prospected. The Ivisaartoq belt is divided in two distinct trends: the South trend which is roughly three kilometers wide by approximately 20 kilometers long and the North trend which is roughly 1.5 kilometers wide by 20 kilometers long. Work in 2024 was largely limited to the South trend where the discovery dyke is located due to time constraints. However, both the North and South trend require much more prospecting in 2025 as the discovery was made late in the campaign and hundreds of mapped and interpreted pegmatite outcrops remain untested.
Figure 3: Spodumene in Pegmatite
First pass prospecting was conducted on all land holdings within the Nuuk license, with the northeastern block containing the most anomalous results (Figure 1). This initial pass identified over 20 pegmatites, all in the Ivisaartoq pegmatite field, with mineralogy and K/Rb ratios, measured in potassium feldspars, that are indicative of a high degree of fractionation. The evolved pegmatites are up to 1,700 meters in strike length (Figure 4). The Company believes there is strong potential to discover more spodumene-bearing pegmatites within these highly evolved pegmatites.
Figure 4: Evolved Pegmatites at Ivisaartoq
Due to the extensive size of the pegmatite field and time constraints, the team focused on collecting as many pXRF samples as possible. With the rapid exploration success in Greenland, a second phase of prospecting is planned in 2025, as soon as possible, to map all evolved pegmatites from the 2024 program and prospect pegmatites that were not visited to prepare for advanced exploration programs in 2025.
Paamiut License
The Paamiut license is located roughly 250 kilometers south of Nuuk along the coast, near the community of Paamiut. A limited, first pass prospecting campaign was completed in September. Following initial work, the company increased its license area to include a greenstone belt measuring roughly 10 kilometers long by two kilometers wide that hosts an unconfirmed and unreferenced historical database spodumene showing with a reported assay 1.23% Li2O from the early 1970s. The initial BRW work generated several pegmatite samples that had evolved K/Rb ratios of less than 30 in potassium feldspars within two dykes. The two evolved pegmatite dykes contained beryl and tourmaline and are approximately 170 meters long by five meters wide. More work is needed to validate the historical showing and the Company is awaiting assay results to plan the next steps in the region.
Jurisdiction of Greenland
While much of Greenland is geologically contained within the North Atlantic Craton, it is an autonomous country that is geopolitically linked to the European Union, via Denmark. The EU has adopted the ambitious European Green Deal and is investing substantial capital in initiatives such as the Critical Raw Materials Act and Horizon Europe. This September, Nuuk hosted the first EU-Greenland Business Mission on Critical Raw Materials and Renewable Energy, solidifying its commitment towards critical minerals. Greenland has past and current mining operations and has applications for proposed mines in progress. The EU also opened an office in Nuuk earlier this year after the November 2023 memorandum of understanding and strategic partnership with Greenland was announced to develop sustainable raw minerals value chains to support Greenland and the EU. (see https://ec.europa.eu/commission/presscorner/detail/en/ip_23_6166 ).
Midland Exploration and 1Minerals Option Agreements
Following the company’s 2023 and 2024 exploration campaigns at the Elrond, Mythril and Mirage projects, the company has decided to terminate the Midland Exploration agreement (See press release dated November 10, 2022) as well as the 1Minerals option agreement (See press release dated October 06, 2023) to better focus its efforts on its high priority projects.
Qualified Person
The scientific and technical information related to this press release has been reviewed and approved by Mr. Charles Kodors, Manager, Atlantic Canada. He is a Professional Geologist registered in New Brunswick, Nova Scotia, Newfoundland, Quebec, Ontario, Manitoba and Saskatchewan.
About Brunswick Exploration
Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing one of the extensive grassroots lithium property portfolios in Canada and Greenland.
Investor Relations/information
Mr. Killian Charles, President and CEO ( info@BRWexplo.com )
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Cautionary Statement on Forward-Looking Information
This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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