Mining News Releases & Company Updates - Page 118
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Honey Badger Silver Announces Closing of First Tranche of Non-Brokered Private Placement Raising Gross Proceeds of Approximately $2.013 Million
Honey Badger Silver raised $2.013M via private placements to fund exploration in Canada’s northern territories.
Dios Sells K2 to Azimut
Dios explores gold at its Heberto-Gold project; sells K2 property to Azimut for cash and shares, retaining a royalty. Focus on discovering a world-class gold deposit.
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Excellon Announces Appointment of Mike Hoffman to Board of Directors and Provides Corporate Update
Excellon Resources appoints mining veteran Mike Hoffman to its Board to enhance governance and support growth and production strategies.
Arya Resources Ltd. Engages CHF Capital Markets Inc.
Arya Resources partners with CHF Capital Markets for 12 months to boost investor relations, marketing, and capital markets advisory, with an option for share purchase.
Nevada Organic Phosphate Announces Stock Option Grant and Compensation Shares Issuance
Nevada Organic Phosphate granted stock options and issued shares as bonuses, including a related party transaction, to key personnel.
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Torex Gold Receives Approval for Normal Course Issuer Bid
Torex Gold Resources Inc. has received approval from the Toronto Stock Exchange to make a normal course issuer bid (NCIB), authorizing the company to buy up to 7,116,777 of its own common shares, which is around 10% of the public float, between November 21, 2024 and November 20, 2025. The move is seen as a way to return capital to shareholders and the purchases will be made on the open market. All shares bought under the NCIB will be cancelled and the company will fund these purchases with its available working capital.
Desert Gold Receives CAD $1,258,286 in Proceeds from Warrant Incentive Program
Desert Gold Ventures Inc. has closed its warrant exercise incentive program, intended to encourage the exercise of over 28 million unlisted common share purchase warrants issued as part of the company's private placement in 2022. 15,728,571 eligible warrants were exercised, generating proceeds of CAD $1,258,286 which will be used for the development of its SMSZ Gold Project in West Mali and for working capital. Participants were issued an equal number of incentive warrants, allowing them to purchase additional shares within three years. The program awaits final approval from the TSX Venture Exchange.
Neotech Metals Corp. Completes Inaugural Drill Program at Hecla-Kilmer
Neotech Metals Corp. has completed its maiden drill program at its Hecla-Kilmer project, conducting nearly 5,000 meters of drilling. The drill cores will be assessed, sampled, and sent to labs for tests. The program aimed to extend from existing holes and additional testing was done in the South Rim zone and other targets. The company reported no safety incidents and CEO Reagan Glazier expressed optimism about the project's future results. Neotech is a mineral exploration company committed to finding and developing valuable resources worldwide.
Puranium Energy Announces AGM
Puranium Energy Ltd. announced potential delays in mailing the Management Information Circular and Notice of Meeting due to the ongoing Canada Post strike. The company's Annual General Meeting will be held on December 17, 2024, in Toronto. Shareholders can access the necessary documents online or request them via email. The company specializes in uranium exploration, with significant interests in Namibia. All signed proxy forms should be submitted at least 48 hours before the meeting.
Zeb Announces New CFO
ZEB Nickel Corp. has announced that Mr. Kyle Appleby will immediately assume the role of CFO, replacing outgoing CFO Dave Cross. Appleby brings a wealth of experience from various industries, including junior mining, food production, agriculture, cannabis, technology, and cryptocurrency. He has held the CFO position for numerous companies in Canada, the US, and London, and is proficient in financial reporting, IPOs, fundraising, and corporate governance. ZEB Nickel Corp. is currently developing its flagship project, the Zeb Nickel Project in Limpopo, South Africa, which is focused on exploring and developing mineral deposits critical for the production of rechargeable batteries.
Canadian Critical Minerals Announces Debt Settlement Agreement
Canadian Critical Minerals Inc. (CCMI) has agreed to settle $250,000 of accounts payable through the issuance of 5 million units, each consisting of one common share and half of one warrant, subject to approval by the TSX Venture Exchange. Each full warrant can be converted into a common share at $0.075 per share for two years. CCMI is a mining company focused on copper production assets in Canada, including the wholly-owned Bull River Mine project and a 30% stake in the Thierry Mine project.
BluMetric Announces Cleantech Water Contract with Tier 1 Cruise Line
BluMetric Environmental Inc., an environmental consulting and engineering firm, will supply a Sea Water Reverse Osmosis (SWRO) system to a Tier 1 Cruise Line on a remote Caribbean island in the Bahamas. The contract, worth around CA$1.1 million, will replace an existing SWRO system and produce 80,000 gallons of potable water per day. The project will be carried out by Gemini Water, a recent acquisition of BluMetric, and is expected to be completed in 2025. Given the market demand for its water systems, BluMetric is considering expanding its Florida-based operations to roughly double its manufacturing capacity.
Elemental Altus Royalties Announces Record Quarterly Cash Flow and EBITDA
Elemental Altus Royalties Corp. has reported its financial and operating results for the three and nine months ended September 30, 2024, indicating record quarterly cash flow and EBITDA. The company has adjusted its guidance range for revenue and reduced its gold-equivalent ounces guidance for 2024. Financial highlights include a 32% increase in adjusted revenue to $4.8 million and a 3% increase in gold equivalent ounces to 1,941. The company also recorded a 72% rise in adjusted EBITDA to $3.7 million and a 42% increase in operating cash flow to $2.8 million. Elemental Altus completed the acquisition of a 4% royalty on the Mactung tung
Silver Bullet Mines Corp. Intercepts Historical Tunnel at Super Champ and Assays High Grade Silver (1093.2 oz Silver/Ton)
Silver Bullet Mines Corp. announced the unexpected discovery of a historical mining tunnel and waste piles while developing the Super Champ vein structure. There is no documentation about this tunnel or what was mined from it, but it is estimated to be over a century old. The company's CEO, A. John Carter, views this as a significant discovery, which further validates their hypothesis for high grade silver and potentially gold production. Visible silver in the Tunnel Zone was reported by the field team. Samples from this zone showed high grade silver, signaling potential for revenue.
Delta Resources Announces Closing of a Premium Charity Flow Through Financing and Ron Kopas Joins the Board of Directors
Delta Resources Limited has successfully closed its non-brokered private placement offering, issuing 25,000,000 Charity Flow-Through Units at $0.20 per unit, totaling $5 million in gross proceeds. The funds raised will be used to finance Canadian exploration expenses. Additionally, Ron Kopas, a business founder and investor with international experience, has joined the company's Board of Directors.
Edison Lithium Arranges Sale of Interest in Argentinian Lithium Properties for US$3.5 Million
Edison Lithium Corp. has accepted a non-binding purchase offer from Mava Gasoil LLC for the sale of 100% interest in its Argentina subsidiary, Resource Ventures S.A., for $3.5 million. The sale excludes certain mining properties and royalties which will be retained by Edison. The agreement includes 30 mining concessions covering around 104,538 hectares in Catamarca Province, Argentina. The parties aim to close the transaction within 45 days of TSX Venture Exchange approval. The payment terms include an initial deposit of $100,000, with further payments totaling $3.4 million to be made on closing. As of the date of the announcement, the initial deposit has not yet been made.
Quetzal Copper Announces Brokered Private Placement Offering to Raise $3.0 Million
Quetzal Copper Corp., a North American copper exploration company, has entered into an agreement with Independent Trading Group (ITG) to conduct a private placement for aggregate gross proceeds of up to $3,000,000. The placement includes up to 6,666,666 units of the company at $0.15 per unit and up to 10,526,315 common shares at $0.19 per share. The shares will be offered as "flow-through shares" under the Canadian Income Tax Act. The units also include a half warrant for each common share, exercisable at $0.25 per common share for 24 months from the closing date. The securities will be offered under the "accredited investor" exemption and will
First Phosphate Announces OTCQB Market Listing and DTC Eligibility in the United States
First Phosphate Corp. has announced that its common shares have begun trading on the OTCQB Venture Market under the ticker symbol FRSPF. The shares are also eligible for electronic clearing and settlement in the U.S. through the Depository Trust Company (DTC), which is expected to simplify trading and enhance share liquidity. The OTCQB is a market for early-stage and developing companies, providing benefits such as efficient trading and transparent pricing. First Phosphate Corp. is a mineral development company focused on extracting phosphate for the lithium iron phosphate battery industry.
TNR Gold NSR Royalty Update - Ganfeng Reaffirmed Its Plans to Start Production at Mariana Lithium by the End of 2024
TNR Gold Corp. has announced that Ganfeng Lithium is advancing the construction of the Mariana Lithium Project in Argentina. TNR Gold holds a 1.5% NSR Royalty on the project. Ganfeng plans to start production by the end of 2024. Kirill Klip, Executive Chairman of TNR Gold, stated that their business model provides an entry point in the creation of supply chains for energy metals and gold. Their portfolio offers a unique mix of assets with exposure to various aspects of the mining cycle, including partnerships with industry leaders like Ganfeng Lithium, McEwen Mining, and Lundin Mining. TNR Gold has no debt and believes its shares are undervalued in the market
Kobrea Receives Approval to Conduct Mineral Exploration at El Perdido and Elena Projects - Western Malargüe Mining District - Argentina
Kobrea Exploration Corp., based in Vancouver, has received approval from the Argentine Province of Mendoza to carry out mineral exploration activities, including drilling, at its El Perdido and Elena projects. This is part of a wider approval of Environmental Impact Statements for 34 projects in the Western Malargüe Mining District. This is the first time Kobrea has received approval for drilling at any of its sites, and the company's CEO, James Hedalen, expressed excitement about commencing field work. The approval process involved public hearings, citizen participation, and technical analysis. More projects, including five more held by Kobrea, will go through the same approval process over the next few months.
T2 Metals Announces Flow Through Private Placement to Raise $527,000
T2 Metals Corp. has arranged a non-brokered private placement financing to raise up to $527,000. The financing involves the sale of up to 1,550,000 flow-through units at $0.34 each. Each unit includes one flow-through common share and half a non-flow-through common share purchase warrant. The warrants allow the holder to buy a non-flow-through common share at $0.50 within two years from closing. The raised funds will be used for exploring the Company's projects in Manitoba. All issued securities are subject to a four-month hold period and necessary regulatory approvals. The shares have not been registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or exemption.
Premium Resources Ltd. Announces Name Change
Premium Resources Ltd. (previously Premium Nickel Resources Ltd.) has changed its name to better reflect its focus on a broader range of critical metals beyond nickel. The change was approved by shareholders and the company's common shares will begin trading under the new name and ticker symbol "PREM" from November 20, 2024. The company, which owns mines in Botswana, focuses on redeveloping previously producing nickel, copper, and cobalt resource mines. The name and ticker symbol change will not affect existing share and warrant certificates.
Abaxx to Increase Strategic Ownership in MineHub to 19.99%
MineHub Technologies Inc. and Abaxx Technologies Inc. have announced their intent to increase Abaxx's strategic ownership in MineHub from 10.83% to 19.99%. Abaxx will acquire over 8 million MineHub common shares at $0.35 per share, in exchange for over $3 million in cash or the issuance of over 237,000 Abaxx common shares. The two companies aim to explore commercial and product collaboration opportunities, focusing on data integration, entry into commodities markets, secure communication tools, sustainability requirements, efficient hedging, and regulatory compliance. The deal will close on or before December 31, 2024, subject to conditions, including TSX Venture Exchange approval.
Bold Ventures Stakes Claims Near Joutel, Québec and Completes Second Phase of Fall Exploration at the Company's Properties in Northwestern Ontario
Bold Ventures Inc. has staked 26 claims near Joutel, Québec, covering geophysical anomalies identified in a 2012 survey. Anomalous nickel, silver, copper, zinc, and gold have been found in this area. Furthermore, Bold and Emerald Geological Services have completed a second phase of fieldwork in Atikokan, Ontario, with the goal to define 2025 trenching and drilling targets. This includes areas of interest on the Wilcorp, Traxxin, and Burchell Lake Properties. Additionally, Goldshore Resources Inc.'s Moss Gold Project, adjacent to the Burchell Lake Property, has recently raised $13.9 million for exploration.
Inomin Appoints Morten Stahl as Hydrogen Advisor
Inomin Mines Inc. has appointed Morten Stahl, an entrepreneur, climate tech investor, and founder of Natural Hydrogen Ventures, as an Advisor to support the company's hydrogen exploration initiatives. Stahl's fund invests globally in early-stage private companies focused on exploration and related technologies in the natural hydrogen sector. Based in Denmark, Stahl's work is driven by achieving "profitable impact" and he sees great potential in Inomin's projects and their plans to combine traditional mining and natural hydrogen exploration.
Southern Silver Initiates Drilling and Baseline Data Collection and Related Studies at its Cerro Las Minitas Project in Mexico
Southern Silver Exploration Corp. has begun drilling on its fully-owned Cerro Las Minitas, Ag-Pb-Zn property in Durango, Mexico. The initial stage plans for up to 6,000m of core drilling to test further extensions of shallow, high-grade mineralization. The aim of the drilling is to demonstrate continued shallow resource growth potential and enhance the project's economics. The company will also carry out baseline data collection, hydrology, geotechnical, archaeological, and land surveys and studies to reduce risk and advance the project.
Kingsmen Resources Announces Closing of $1 Million Private Placement
Kingsmen Resources Ltd. has successfully closed its non-brokered private placement financing, raising $1,000,000 by issuing 4,000,000 units at $0.25 each. Each unit includes one common share and one warrant, which allows the holder to buy another share at $0.40 within two years. The funds will be used to develop the Las Coloradas Silver/Gold project in Mexico and for working capital. The securities issued are subject to a four-month hold period and necessary regulatory approvals. An insider of the company purchased 60,000 units, which is considered a "related party transaction" but did not require special approval since it didn't exceed 25% of the company's market capitalization.
Kenorland Announces Termination of Joint Venture Exploration Agreement at the Chicobi Project, Quebec
Kenorland Minerals Ltd. announces that Sumitomo Metal Mining Canada Ltd. has decided to withdraw from their joint venture exploration agreement for the Chicobi Project in Quebec, effective December 6, 2024. Sumitomo will transfer its interest in the project to Kenorland, resulting in Kenorland having full ownership. The Chicobi Project, which spans over 48,109 hectares, has the potential to host significant orogenic gold and VMS mineralisation. The company has completed a phase of sonic overburden drilling, a continuation of the 55 sonic drillholes finished in 2023.
Canstar Adds U.S. National Security Strategist and Defense Tech Expert Dr. David Kilcullen to Advisory Board and Provides Corporate Update
Canstar Resources Inc. has added Dr. David Kilcullen, a global expert in national security, geopolitics, and defence technology, to its advisory board. This move is a significant step in the company's critical minerals strategy. Dr. Kilcullen's appointment, along with Canstar's previous association with the Nevada Tech Hub, is aimed at seizing opportunities associated with the West's focus on securing the supply chain for critical materials. The company believes the metals and mining industry is on the verge of a commodity supercycle, driven by economic, energy transition, and national security imperatives.
Borealis Engages ICP Securities Inc. for Automated Market Making Services
Borealis Mining Company has announced an agreement to employ the services of ICP Securities Inc. for automated market making, using ICP's proprietary algorithm. The services comply with the TSX Venture Exchange policies and other relevant legislation. ICP will be paid a monthly fee of $7,500 for an initial period of four months, with no performance-based factors. ICP's role is primarily to correct temporary imbalances in the supply and demand of Borealis's shares. ICP is a Toronto-based firm specializing in automated market making and liquidity provision. Borealis is a gold mining and exploration company focused on the Borealis Mine in Nevada.
Avalon Announces $3.5M Financing from JV Partner and Major Shareholder Sibelco
Avalon Advanced Materials Inc. has secured CAD $3.5 million in convertible debenture financing from its major shareholder, SCR-Sibelco NV. The funds will be used to advance Avalon's Lake Superior Lithium Project in Thunder Bay, the Nechalacho REE and Zirconium Project in the Northwest Territories, as well as for working capital and administrative expenses. This new financing replaces Avalon's existing CAD $3.0 million convertible secured debenture, resulting in a principal amount of CAD $6.5 million. The debenture carries a 7.5% annual interest rate, with the principal and accrued interest payable by November 18, 2026. Avalon has also applied for provincial and federal
CopperCorp Intersects Broad Zones of Visible Copper Mineralization in Drilling at Jukes
CopperCorp Resources Inc. announced that significant areas of visible copper mineralization have been intercepted at its Razorback Copper-Gold-REE property in Tasmania, Australia. The drill hole, JDD002W1, at Jukes prospect showed broad zones of K-feldspar-magnetite, chlorite-magnetite alteration, and sulphide mineralization. Multiple zones of visible copper sulphide mineralization were found, including two significant zones at varying depths. Laboratory assays are awaited to confirm the actual copper content. CopperCorp underlined that visual observations should not replace laboratory analysis.
Minera Alamos Provides Sabre Gold Acquisition and Operations Update
Minera Alamos Inc. is preparing for the expansion of the Santana Phase 2 Pad, following its recent acquisition of Sabre Gold and its Copperstone gold project in Arizona. The transaction is expected to finalize after a Sabre shareholder meeting set for January 14th, 2025. In addition, Sabre announced the repurchase of a 1.5% existing net smelter royalty on the Copperstone project. The company is also preparing updated process models for the new Copperstone processing facility and is reworking underground development plans. The company's grinding and flotation equipment is being prepped for shipment to Copperstone in early 2025. Over the coming months, the company will quantify the positive impact of these initiatives on the Copperstone
Gladiator Intersects 14m @ 7.67% Within 98m @ 1.49% Cu Down Dip from 26m @ 3.31% Cu at Cowley Park
Gladiator Metals Corp announced results from its recent Cowley Park drill program, which targeted resource definition and exploration. The final hole, CPG-047, discovered significant mineralization that remains open at depth. This includes a large deposit of copper and molybdenum, with the results confirming that mineralization continues for over 220 meters down dip. The findings suggest a wide zone of high-grade mineralization within a broader mineralized skarn.
Awalé Hits 2.7 g/t Gold Eq. over 27 Metres at the BBM Zone, Odienné Project
Awalé Resources Limited has announced promising results from the final two deep holes of a follow-up drilling program at the BBM Zone within the Odienné Joint Venture in Côte d'Ivoire. The findings include a significant intercept of 27 metres at 2.7 g/t gold equivalent (AuEq.) including 12m at 3.9 g/t AuEq. in hole OEDD-98. These results confirm that the system is open at depth, with potential for increased grade and volume. The company has also started a 4000m diamond drill program, funded by Newmont, which will continue until 2025. The BBM system remains open at depth and down plunge, with mineralization defined from
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