NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / June 12, 2024 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0) (the "Company" or "Commerce") is pleased to announce a non-brokered private placement offering consisting of the issuance of up to 16,000,000 units (each, a "Unit") at a price of $0.126 per Unit for gross proceeds of up to $2,016,000 (the "Offering"). Each Unit will consist of one common share of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one Share at a price of $0.25 per Share for a period of two (2) years from closing of the Offering (the "Closing").

Pursuant to a binding engagement agreement ("Term Sheet") entered into between Commerce and Churchill SIG Pty Ltd. ("Churchill"), Churchill will act as exclusive lead manager for the Offering, for a term of up to three (3) months, to introduce (the "Services") potential qualified subscribers to the Company in connection with a portion of the Offering (the "Churchill Portion"). Churchill will not provide the Services in Canada or for the benefit of Canadian residents, and any potential subscribers introduced by Churchill will not be residents of Canada.

As consideration for the Services, and upon completion of the Offering, the Company has agreed to pay Churchill a cash fee (the "Cash Fee") equal to 5% of the amount raised under the Offering from persons introduced by Churchill, and to issue such number of non-transferable share purchase warrants (the "Finder's Warrants") that equals 12.5% of the total number of Units issued to persons introduced by Churchill under the Offering. Each Finder's Warrant will entitle the holder to acquire one additional common share (a "Finder's Warrant Share") in the capital of the Company at a price of $0.20 per Finder's Warrant Share for a period of two (2) years from the date of issuance of the Finder's Warrants. The Company has also agreed to pay Churchill's reasonable fees and expenses in connection with the Services, up to $10,000. Churchill shall have a right of first refusal to act as lead manager in connection with any other equity offerings undertaken by the Company within a 12-month period following completion of the Offering. The Units, Shares, Warrants, Warrant Shares, Finder's Warrants and Finder's Warrant Shares are collectively referred to herein as the "Securities".

The Offering will be conducted pursuant to one or more prospectus exemptions available to the Company, including, without limitation, the "accredited investor" exemption set out in Section 2.3 of National Instrument 45-106 – Prospectus Exemptions and the prospectus exemption set out in BC Instrument 72-503 – Distribution of Securities Outside British Columbia.

In addition to the fee payable to Churchill in connection with any persons introduced by Churchill, the Company may pay finders' fees consisting of cash, securities or a combination thereof to other parties in connection with the persons introduced to Commerce by such other parties, all in accordance with the policies of the TSX Venture Exchange (the "Exchange").

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the Exchange.

The net proceeds from the sale of the Offering will be used towards completion of the updated PEA for the Ashram REE/ Fluorspar Deposit and general working capital.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news 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 any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Commerce Resources Corp.Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of DirectorsCOMMERCE RESOURCES CORP.

"Chris Grove"Chris GrovePresident and DirectorTel: 604.484.2700Email: cgrove@commerceresources.comWeb: http://www.commerceresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Services to be provided by Churchill, the expectations of management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, the expiry of hold periods for securities distributed pursuant to the Offering, that Exchange approval is required for the proposed Offering, that the Ashram deposit has the potential to become one of the largest fluorspar deposits and a long-term supplier to the mixed rare earth carbonate, NdPr oxide, and met-spar and acid-spar markets; and that the Company is positioning to be one of the lowest cost rare earth element producers globally. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Company may not complete the Offering on terms favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the Company may be unable to satisfy all of the conditions to the Closing; and those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply 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. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE: Commerce Resources Corp.

View the original press release on accesswire.com

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / June 6, 2024 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0) (the "Company" or "Commerce") is pleased to announce a non-brokered private placement offering of up to 28,000,000 charity flow-through units (each, a "FT Unit") at a price of $0.18 per FT Unit for aggregate gross proceeds of up to $5,040,000 (the "Offering"). Each FT Unit will be comprised of one common share in the capital of the Company (each, a "FT Share") and one transferable share purchase warrant (each, a "Warrant"). Each Warrant shall entitle the holder to receive one non-flow-through common share in the capital of the Company (each, a "Warrant Share") at a price of $0.25 per Warrant Share at any time before the date that is two (2) years following the date of issuance. The FT Units are being issued pursuant to a charity arrangement structured by Peartree Securities Inc.

The Company also announces that it has entered into an agreement ("Term Sheet") with Churchill SIG Pty Ltd. ("Churchill"), whereby Churchill will act as lead manager, for a term of up to three (3) months, to introduce potential qualified subscribers (the "Services") to the Company in connection with the Offering. Churchill will not provide the Services in Canada or for the benefit of Canadian residents, and any potential subscribers introduced by Churchill will not be residents of Canada.

As consideration for the Services, and upon completion of the Offering, the Company has agreed to pay Churchill a cash fee (the "Cash Fee") equal to 5% of the amount raised under the Offering from persons introduced by Churchill, and to issue such number of non-transferable share purchase warrants (the "Finder's Warrants") that equals 12.5% of the total number of FT Units issued to persons introduced by Churchill under the Offering. Each Finder's Warrant will entitle the holder to acquire one common share (a "Finder's Warrant Share") in the capital of the Company at a price of $0.20 per Finder's Warrant Share for a period of two (2) years from the date of issuance of the Finder's Warrants. The Company has also agreed to pay for Churchill's reasonable fees and expenses in connection with the Services, up to $10,000. Churchill shall have a right of first refusal to act as lead manager in connection with any other equity offerings undertaken by the Company within a 12-month period following completion of the Offering. The FT Units, FT Shares, Warrants, Warrant Shares, Finder's Warrants and Finder's Warrant Shares are collectively referred to herein as the "Securities".

The Offering will be conducted pursuant to one or more prospectus exemptions available to the Company, including, without limitation, the "accredited investor" exemption set out in Section 2.3 of National Instrument 45-106 – Prospectus Exemptions and the prospectus exemption set out in BC Instrument 72-503 – Distribution of Securities Outside British Columbia.

In addition to the fee payable to Churchill in connection with investors introduced to the Company by Churchill, the Company may pay finders' fees consisting of cash, securities or a combination thereof to other parties in connection with the Offering, all in accordance with the policies of the TSX Venture Exchange (the "Exchange").

The Offering is expected to close on or about June 18, 2024, or on any other date or dates as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the Exchange. The Securities, and the underlying securities, will be subject to a hold period of four months and one day from the date of closing.

Certain insiders of the Company are anticipated to participate in the Offering, and the participation of insiders will be considered a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the Offering by insiders will not exceed 25% of the Company's market capitalization.

The FT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). An amount equal to the gross proceeds from the issuance of the FT Units will be used to incur eligible resource exploration expenses which will qualify as "Canadian exploration expenses" (as defined in the Tax Act). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units will be incurred (or deemed to be incurred) by the Company on or before December 31, 2025 and will be renounced by the Company to the initial purchasers of the FT Shares with an effective date no later than December 31, 2024. The gross proceeds from the sale of the FT Units will be used to underwrite the upcoming drilling program for the niobium targets on the claims owned by the Company in Nunavik, Quebec.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news 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 any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Commerce Resources Corp.Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

"Chris Grove"

Chris GrovePresident and DirectorTel: 604.484.2700Email: cgrove@commerceresources.comWeb: http://www.commerceresources.com

ACCESSWIRE | Article Logo

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking StatementsThis news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Services to be provided by Churchill, the expectations of management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, the expiry of hold periods for securities distributed pursuant to the Offering, that Exchange approval is required for the proposed Offering, that the Ashram deposit has the potential to become one of the largest fluorspar deposits and a long-term supplier to the mixed rare earth carbonate, NdPr oxide, and met-spar and acid-spar markets; and that the Company is positioning to be one of the lowest cost rare earth element producers globally. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Company may not complete the Offering on terms favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the Company may be unable to satisfy all of the conditions to the Closing; and those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply 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. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE: Commerce Resources Corp.

View the original press release on accesswire.com

VANCOUVER, BC / ACCESSWIRE / June 3, 2024 / Stillwater Critical Minerals Corp. (TSX.V:PGE)(OTCQB:PGEZF)(FSE:J0G) (the "Company" or "Stillwater") is pleased to announce the appointment of Mr. Bradley Adamson as an Independent Director.

Mr. Adamson is a veteran resource industry professional with over 25 years of global experience focused on nickel and cobalt in Canada, Africa, Brazil and Australia with Glencore PLC, where he leads Business Development for Glencore's nickel group. He has led and been involved with many of Glencore's nickel divestments, mergers and acquisitions and has held various board positions for the group.

He holds a Bachelor of Engineering in Minerals Engineering from the Western Australian School of Mines along with a Post Graduate Diploma in Applied Finance from Kaplan Professional. He began his career with WMC Resources followed with periods at Anaconda Operations and BHP Billiton. He joined Glencore in 2004 and has developed a strong operational, project development and commercial background over the subsequent 20 years with the group.

Stillwater Critical Minerals President & CEO, Michael Rowley commented, "We are very pleased to announce the appointment of Bradley Adamson as Glencore's appointee to the Stillwater board of directors. Bradley brings extensive corporate experience in global mining and mine finance in addition to his strong background in nickel and cobalt metallurgy to our work in the Stillwater Igneous Complex, one of the world's most iconic magmatic formations. We look forward to providing further updates including additional drill results as we continue to advance our flagship Stillwater West critical minerals project towards its potential as a primary US-based source of battery and catalytic metals."

Warrant Extension

The Company further reports that it has applied for TSX Venture Exchange approval to extend the expiry date on certain warrants that are due to expire June 16, 2024 (the "Warrants"). Per the application, 7,406,250 Warrants that were originally issued as part of a financing completed in June 2021 (see news release June 16, 2021) will be extended to a new expiration date of June 16, 2025. Each Warrant entitles the holder to acquire one common share at an exercise price of CDN$ 0.55.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:J0G) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West with the largest nickel resource in an active US mining district as part of a compelling suite of nine minerals now listed as critical in the USA. To date, five Platreef-style nickel and copper sulphide deposits host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold at Stillwater West. All deposits remain open for expansion along trend and at depth. Results are pending from resource expansion drilling completed in the fall of 2023.

Stillwater also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals' development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director – Stillwater Critical MineralsEmail: info@criticalminerals.com Phone: (604) 357 4790Web: http://criticalminerals.com Toll Free: (888) 432 0075

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.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: Stillwater Critical Minerals

View the original press release on accesswire.com

Highlights include 11.48m at 14.3% Cu, 3.3g/t Au including 2.9m at 22.9% Cu, 3.6g/t Au at T5 Target

  • Regional exploration has drilled two new areas of sulphide mineralization (T5 and T6 Targets), east of the original Luanga PGM+Ni+Au deposit.

  • T5 and T6 targets are only two of eleven priority EM anomalies hosted within the boundaries of the Luanga tenement.

  • T6 target has also intersected massive sulphides in ultramafic rock.

VANCOUVER, BC, May 28, 2024 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") has completed initial drill holes on the "T5" and "T6" electromagnetic ("EM") anomalies/targets. Assays have been received from the first drill hole ("DDH") at target T5. Both targets are located east of the original PGM+Au+Ni prospecting area of the 100% owned Luanga palladium + platinum + rhodium + gold + nickel deposit ("Luanga" or "Luanga PGM+Au+Ni Project"), in the Carajás Mineral Province, state of Pará, Brazil.

"Drilling of geophysical HeliTEM targets has identified high-grade Iron Oxide Copper Gold style ("IOCG-style") mineralization and represents a potentially significant high-grade copper discovery. T5 is only one of eleven priority EM anomalies hosted within the boundaries of the Luanga tenement. Moreover, at the proximal EM target (T6), drilling has intersected similar massive sulphide mineralization (assays pending)." said Luis Azevedo, Chairman and CEO. "We are very encouraged by the discovery of high-grade copper and shareholders should be cognisant that Luanga is situated within the world class Carajás IOCG province, an area very fertile for high-grade copper discoveries. These results are a credit to Bravo's highly skilled geology team who are only now beginning to uncover the very exciting copper potential adjacent to Luanga's Tier 1 PGM+Au+Ni deposit."

Highlights Include:

  • Hole DDH2405T002 at target T5 intersected 11.48m of massive/semi-massive/breccia high-grade copper sulphide mineralization grading 14.3% Cu, 3.3g/t Au including 2.9m at 22.9% Cu, 3.6g/t Au (Figures 1 and 2).

  • High-grade copper in DDH2405T002 remains open at depth and along strike.

  • Drill hole DDH2405T004 (assays pending), completed 50m to the east of DDH2405T002, also intersected 9m of massive/semi-massive/breccia IOCG-style copper sulphide mineralization (Figure 4).

  • Presence of copper mineralization is consistent with mineralization in the Carajás province where IOCG-style mineralization is well established and high-grade discoveries are not unusual.

  • Such high-grade copper mineralization is likely unrelated to the Luanga PGM+Ni+Au deposit 1km away.

  • Drilling at T6 intersected 6m of massive/semi-massive/breccia sulphides (assays pending), in this case predominantly pyrrhotite. At this early stage, it appears to be of a magmatic style, hosted in ultramafic rocks like those seen in the footwall of the Luanga deposit. Follow-up drilling is planned.

Figure 1: 19% High-Grade Copper in DDH2405T002: T5 Massive sulphide Cu mineralization (~173m downhole). Open on strike and depth. (CNW Group/Bravo Mining Corp.)

Exploration Drilling Update

Initial test diamond drilling of on Borehole Electromagnetic Targets ("BHEM") targets T5 and T6 has been completed, and assay results have been received from one of the holes at T5. Drill holes are angled at -60 degrees, towards azimuths of 150-180° at T5 and 330-000° at T6. Together, this set of drill holes comprise a total of 893 metres of diamond drilling.

Over the past 6 months, Bravo has conducted systematic first-pass test drilling, coupled with BHEM on the priority EM conductors identified by the HeliTEM survey. Although these modelled conductors, generated by an airborne EM technique on 150m spaced lines, have a lower degree of locational accuracy, they are sufficiently defined to place first-pass drilling proximal to the conductor's location. From there, BHEM, which provides more precise readings every 1m down the hole, has enabled development of accurately located conductor models for follow-up drilling.

From the 17 priority EM anomalies identified in the HeliTEM survey (see press release September 11, 2023), Bravo has narrowed this list to 11 high priority conductors that warranted follow-up drilling of predominantly off-hole BHEM conductors. Drill testing commenced with the T5 and T6 targets, which are respectively situated between 1km and 4km east of the Luanga PGM+Au+Ni deposit.

T5 Target

Figure 2 shows the mineralization intersected and responsible for the T5 conductor, consisting of massive/semi-massive/breccia sulphides with sufficient pyrrhotite to generate a strong EM response. The first hole (DDH2305T001, Figure 3), drilled with an azimuth of 150°, targeted the HeliTEM conductor but only intercepted a narrow interval of mineralization (0.7m grading 1.98% Cu). Subsequent detailed BHEM modelling from this drill hole indicated that the conductor was located to the west with a slightly different alignment. To compensate, a new drill hole (DDH2405T002, Figure 3) was positioned with an azimuth of 180°.

Figure 2: DDH2405T002 – Massive/semi-massive/ breccia sulphide Cu mineralization at the T5 target (165.8 – 174.8m downhole shown). (CNW Group/Bravo Mining Corp.)

HOLE-ID

From (m)

To (m)

Thickness (m)

Cu (%) Sulphide

Ni* (%) Sulphide

Au (g/t)

TYPE

DDH2405T002

165.62

177.10

11.48

14.27

0.11

3.33

FR

Including

167.50

170.36

2.86

22.91

0.07

3.62

FR

Notes: 

All 'From', 'To' depths, and 'Thicknesses' are downhole.

Given orientation of drilling, mineralization and modelled EM anomalies, intercepts are estimated at 100% of true thickness.

Type: FR = Fresh Rock. * Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel.

Drill hole DDH2405T002 intersected 11.5m (at 14.3% Cu, 3.3g/t Au) of massive/semi-massive/breccia copper sulphide mineralization, at the T5 target. The copper mineralization presents as being within a hydrothermal system that overprints local felsic meta-intrusive rocks (meta-tonalite). The main mineral assemblage associated with this hydrothermal zone is represented by calcium-amphibole, biotite-phlogopite, apatite and silica. The sulphide paragenesis is that chalcopyrite is much more abundant than pyrrhotite, forming massive and semi-massive zones associated with brecciation within the hydrothermal zone.

Mineralization appears consistent with typical Carajás IOCG-style mineralization (also supported by preliminary chemistry from handheld XRF spectrometer). Numerous IOCG deposits are well documented in the Carajás and several operating IOCG copper-gold mines exist. The world-class Salobo Cu/Au mine (Vale S.A.) is the most prolific.

The absence of magnetite alteration (which is commonplace in Carajás IOCG deposits) is not unique, with several other Carajás deposits similarly lacking magnetite. This results in the low magnetic response as reflected in the detailed magnetic survey. Historical soil geochemistry covers the T5 target with lines spaced at 200 metres, however, with an east-west orientation, lines are parallel to the modelled BHEM plates. Despite this, there is weak Cu in soil anomalism in the vicinity of the BHEM plates (peak high 416ppm Cu) close to the eastern end of the BHEM model.

DDH2405T004 has also been completed (assays pending), while DDH2405T003 is in progress.

Figure 3: Off-conductors at T5 generated from drill hole DDH2305T001. Drill holes 002 and 004 intersected conductor; 003 is in progress. (CNW Group/Bravo Mining Corp.)

Figure 4 shows core from the next drill hole (DDH2405T004) at anomaly T5, completed 50m to the east of DDH2405T002. Like DDH2405T002, this core also contains 9m of massive/semi-massive/breccia IOCG-style copper sulphide mineralization (assays pending). This finding supports the IOCG-style mineralization intersected in DDH2405T002 to the west and appears to confirm the continuity of the sulphide mineralization. The mineralization intersected at T5 remains open along strike and up and down dip from the intercepts reported herein.

Figure 4: DDH2405T004 – Massive/Semi-massive/ breccia sulphide Cu mineralization at T5 target (154.0 – 161.4m shown). (CNW Group/Bravo Mining Corp.)

T6 Target

Figure 5 shows the intersected mineralization responsible for the T6 conductor, consisting of 6m of massive/semi-massive/breccia sulphides, predominantly pyrrhotite, which generates a strong EM response. The first hole (DDH2306T001 Figure 6) was angled at an azimuth of 330° to target the interpreted HeliTEM conductor but failed to intersect it. Subsequently, BHEM identified the location of an off-hole conductor, and follow-up drilling (DDH2406T002, Figure 6) at a new azimuth of 000° intersected this conductor. At this early stage, mineralization appears to be more likely of a magmatic style, with low potassium, chlorine, and calcium, against an ultramafic (dunite) footwall. Assays are pending, and follow-up drilling is planned.

Figure 5: DDH2406T002 Massive/Semi-massive/ breccia sulphide mineralization at T6 target (57.0 – 60.7m shown). (CNW Group/Bravo Mining Corp.)

Drill Results Status Update

A total of 293 drill holes have been completed by Bravo to date, for 62,811 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 247 Bravo drill holes to date. Assay results for 38 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).

Bravo has initially budgeted a 3,000m of drilling to follow up the identified EM anomalies and will continue to systematically evaluate the T5 and T6 targets, as well as the other nine high priority conductors defined by HeliTEM and subsequent BHEM.

Complete Table of Recent Intercepts.

HOLE-ID

Target

From (m)

To (m)

Thickness (m)

Cu (%) Sulphide

Ni* (%) Sulphide

Au (g/t)

TYPE

DDH2405T001

T5

212.30

213.00

0.70

1.98

0.07

0.04

FR

DDH2405T002

T5

165.62

177.10

11.48

14.27

0.11

3.33

FR

Including

167.50

170.36

2.86

22.91

0.07

3.62

FR

DDH2405T004

T5

Pending

DDH2406T001

T6

50.00

56.00

6.00

0.11

0.02

0.01

FR

DDH2406T001

T6

120.65

135.14

14.49

0.12

FR

DDH2406T002

T6

Pending

Notes: All 'From', 'To' depths, and 'Thicknesses' are downhole.

Given orientation of drilling, mineralization, and modelled EM anomalies, intercepts are estimated at ~100% of true thickness.

Type: FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

* Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel.

Figure 6: Location of Bravo Drilling at the T5 and T6 targets, reported in this News Release (CNW Group/Bravo Mining Corp.)

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga Project in the world-class Carajás Mineral Province of Brazil

Bravo is the most active explorer in Carajás and is led by a team of local and international geologists who have a proven track record of PGM, nickel and copper discoveries.

The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo's current Environmental, Social and Governance activities includes planting more than 18,000 high-value trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

Technical Disclosure

Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "high-grade", "significant", "discovery", "priority", "exciting copper potential", "strong EM response", variants of these words and other similar words, phrases, or statements that certain events or conditions "may" or "will" occur. This news release contains forward-looking information pertaining to the Company's ongoing drill program and the results thereof; the potential for new and/or different styles of mineralisation in some areas, such as IOCG-style, the presence of which is publicly well documented in the Carajás mineral province; whether or not the mineralization interested at T5 is in fact IOCG-style, some variant of such or another style of mineralization; the potential continuity of mineralization between holes; the grades and implications of unassayed holes; the visual and XRF identification of minerals in the core; the potential implications of magmatic massive sulphide mineralization at T6; whether the other anomalies are related to mineralization; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, 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, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted along strike and up and down dip; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

HOLE-ID

Company

East (m)

North (m)

RL (m)

Datum

Depth (m)

Azimuth

Dip

Area

DDH2305T001

Bravo

660890.155

9343249.612

185.549

SIRGAS2000_UTM_22S

250.05

150.00

-60.00

T5 EM Target

DDH2405T002

Bravo

660850.040

9343224.790

191.610

SIRGAS2000_UTM_22S

201.35

180.00

-60.00

T5 EM Target

DDH2405T004

Bravo

660899.990

9343224.690

185.840

SIRGAS2000_UTM_22S

200.35

180.00

-60.00

T5 EM Target

DDH2306T001

Bravo

663569.793

9343420.426

200.549

SIRGAS2000_UTM_22S

150.40

330.00

-60.00

T6 EM Target

DDH2406T002

Bravo

663569.790

9343420.430

200.550

SIRGAS2000_UTM_22S

90.75

000.00

-60.00

T6 EM Target

Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

Quality Assurance and Quality Control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

Bravo SGS Geosol

Preparation

Method

Method

Method

Method

For All Elements

Pt, Pd, Au

Rh

Sulphide Ni, Cu

Trace Elements

PRPCLI (85% at 200#)

FAI515, FAI34V

FAI30V

AA04B

ICP40B

Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/28/c0291.html

VANCOUVER, BC, May 14, 2024 /CNW/ – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ("Eastplats" or the "Company") is pleased to report that it has filed its condensed interim consolidated financial statements for the three months ended March 31, 2024 and the corresponding management's discussion and analysis ("MD&A"). Below is a summary of the Company's financial results for the first quarter of 2024 ("Q1 2024") in comparison to the restated period in 2023 ("Restated Q1 2023") (all amounts in USD unless specified):

  • Revenue for Q1 2024 decreased to $15.7 million (Restated Q1 2023 – $18.0 million), representing a $2.3 million or -12.9% decrease.

  • Mine operating income increased by $1.8 million (or 49.5%) to $5.3 million in Q1 2024 (Restated Q1 2023 – $3.5 million) while gross margin increased from 19.6% in Restated Q1 2023 to 33.7% in Q1 2024.

  • Operating loss was $0.03 million in Q1 2024 compared to an operating income of $1.8 million in Restated Q1 2023.

  • Net loss attributable to equity shareholders was $0.9 million ($0.00 loss per share) in Q1 2024 versus net loss attributable to equity shareholders of $0.4 million ($0.00 loss per share) in Restated Q1 2023. The decrease in Q1 2024 net income was largely attributable to the increase in overall operating costs associated with the soft restart of the Zandfontein underground operations located at the Crocodile River Mine ("CRM") in South Africa and foreign exchange losses incurred in the period due to the strengthening of the U.S. dollar.

  • The Company had a working capital deficit (current assets less current liabilities) of $16.7 million as at March 31, 2024 (December 31, 2023 – working capital deficit of $15.5 million) and short-term cash resources of $20.7 million (consisting of cash, cash equivalents and short-term investments) (December 31, 2023$21.3 million)

Wanjin Yang, Chief Executive Officer and President of Eastplats commented, "We are encouraged by the first quarter results despite the challenging PGM market price environment. Our focus is on chrome recoveries from the remaining tailings resource as we approach the end of the retreatment project. We expect to start earning chrome and PGM revenue from the Zandfontein underground section at the CRM in June as we ramp up run-of-mine tonnages."

Prior Period Error – Restatement of Comparatives

Certain 2023 comparative numbers in the condensed interim consolidated financial statements and corresponding MD&A have been restated to correct an error in the condensed interim consolidated financial statements for the three months ended March 31, 2023, that was identified subsequent to the period-end and is discussed below.

As discussed in the previous news release of May 3, 2024, in connection with the preparation of the Company's consolidated financial statements for the year ended December 31, 2023, an error was identified in the recognition of revenue related to a chrome concentrate sales transaction in fourth quarter of 2022 which impacted the Company's previously filed audited consolidated financial statements for the year ended December 31, 2022 and its unaudited condensed interim consolidated financial statements for the three months ended March 31, 2023. Chrome concentrate revenue is recognized when control is transferred to the buyer and payment is considered probable. A sales transaction that was included in deferred revenue at the end of 2022 and recognized as revenue in the first quarter of 2023 should have been recognized in fourth quarter of 2022 based on the fact that the Company had met all of its required performance obligations at the time, as supported by the underlying contract and bill of lading. Previously reported revenue for the first quarter of 2023 was overstated by $4.0 million, with associated errors in production costs, accumulated other comprehensive loss and deficit.

The following table presents the effects of the restatement on the individual line items within the Company's unaudited Condensed Interim Consolidated Statement of Income (Loss), Condensed Interim Statement of Comprehensive Income (Loss) and Condensed Interim Statement of Financial Position, expressed in thousands of U.S. dollars, except for per share amounts. The corrected prior period error had no impact on cash flows.

Three months ended March 31, 2023

As previouslyreported

Adjustment

As restated

$

$

$

Revenue

22,058

(4,021)

18,037

Production costs

(15,360)

2,324

(13,036)

Mine operating income (loss)

5,233

(1,697)

3,536

Operating income (loss)

3,497

(1,697)

1,800

Net income (loss) for the period

1,343

(1,697)

(354)

Net income (loss) attributable to equityshareholders of the Company

1,344

(1,697)

(353)

Earnings (loss) per share, basic and diluted

0.01

(0.01)

0.00

Comprehensive income (loss) for the period

(2,267)

(1,766)

(4,033)

 

As at March 31, 2023

As previouslyreported

Adjustment

As restated

$

$

$

Accumulated other comprehensive loss

(321,406)

(13)

(321,419)

Deficit

(850,900)

13

(850,887)

The Company's audited consolidated financial statements for the year ended December 31, 2023 reflected these changes. The unaudited interim consolidated financial statements and related financial information for the affected period contained in the Company's unaudited interim filings prior to May 13, 2024 should no longer be relied upon.

The Company has a primary listing on the Toronto Stock Exchange and a secondary listing on the JSE Limited.

The Company has filed the following documents, under the Company's profile on SEDAR+ at www.sedarplus.ca:

  • Condensed interim consolidated financial statements for the three months ended March 31, 2024; and

  • Management's discussion and analysis for the three months ended March 31, 2024.

The condensed interim consolidated financial statements for the three months ended March 31, 2024 are available for download at https://www.eastplats.com/investors/quarterly-reports/F2024/  and are also available on the JSE's website at:

https://senspdf.jse.co.za/documents/2024/JSE/ISSE/EPS/Q124.pdf.

Operations

The Company derived revenue from the processing of PGM and chrome concentrates during Q1 2024 and Q1 2023. Eastplats' majority of revenue (approximately 93% for Q1 2024) is from chrome concentrate sales to third parties.

Summary of chrome production for the three months ended March 31, 2024 and 2023:

Q1 2024

Q1 2023

Total Tailings Feed (Tons)

385,299

631,954

Average grade Cr

 concentrate

38.57 %

38.65 %

Tons of Cr concentrate

79,882

147,090

Summary of PGM production for the three months ended March 31, 2024 and 2023:

Q1 2024

Q1 2023

Tons of PGMconcentrate

945

1,156

PGM ouncesproduced (6E)*

1,475

2,134

*PGM 6E ounces are estimates until final exchanges and umpire results have been concluded, which can take up to three months.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company's properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore.

Operations at the Crocodile River Mine currently include re-mining and processing its tailings resource from the Barplats Zandfontein tailings dam and mining and processing ore from the Zandfontein underground section to both produce PGM and chrome concentrates.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation.  Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company.  Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "will," "plan," "intends," "may," "could," "expects," "anticipates" and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company's most recent Annual Information Form available under the Company's profile on www.sedarplus.ca.

In particular, this press release contains, without limitation, forward-looking statements pertaining to: expected earnings from chrome and PGM revenue from the Zandfontein underground section at the CRM in June 2024 and ramping-up the Zandfontein underground operations. These forward-looking statements are based on assumptions made by and information currently available to the Company.  Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.  By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, unanticipated problems that may arise in the Company's production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this news release are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement on Forward-Looking Information" section contained in the Company's most recent Management's Discussion and Analysis available under the Company's profile on www.sedarplus.ca. The forward-looking statements in this news release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Eastern Platinum Ltd.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/14/c1587.html

VANCOUVER, BC, May 9, 2024 /CNW/ – Eastern Platinum Limited (TSX: ELR) (JSE: EPS)("Eastplats" or the "Company") is pleased to report that the temporary management cease trade order announced on April 4, 2024, has been revoked by the British Columbia Securities Commission and is no longer in effect. As reported on May 3, 2024, Eastplats has completed and filed all late filings.

The Company has adopted polices and procedures to ensure timely filing in the future.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements in this press release include that proper procedures and processes are in place to avoid future filing delays. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the expectations and intentions expressed in such forward-looking statements. These factors include, but are not limited to, regulatory requirements, third-party assessments, and proper implementation of policies and procedures. All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Eastern Platinum Ltd.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/09/c7006.html

Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

Given this risk, we thought we'd take a look at whether SRG Mining (CVE:SRG) shareholders should be worried about its cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). Let's start with an examination of the business' cash, relative to its cash burn.

Check out our latest analysis for SRG Mining

How Long Is SRG Mining's Cash Runway?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. As at December 2023, SRG Mining had cash of CA$8.9m and no debt. Looking at the last year, the company burnt through CA$4.8m. That means it had a cash runway of around 22 months as of December 2023. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. The image below shows how its cash balance has been changing over the last few years.

debt-equity-history-analysisHow Is SRG Mining's Cash Burn Changing Over Time?

SRG Mining didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. As it happens, the company's cash burn reduced by 5.0% over the last year, which suggests that management are maintaining a fairly steady rate of business development, albeit with a slight decrease in spending. SRG Mining makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can SRG Mining Raise Cash?

While SRG Mining is showing a solid reduction in its cash burn, it's still worth considering how easily it could raise more cash, even just to fuel faster growth. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of CA$55m, SRG Mining's CA$4.8m in cash burn equates to about 8.7% of its market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

So, Should We Worry About SRG Mining's Cash Burn?

The good news is that in our view SRG Mining's cash burn situation gives shareholders real reason for optimism. One the one hand we have its solid cash runway, while on the other it can also boast very strong cash burn relative to its market cap. Based on the factors mentioned in this article, we think its cash burn situation warrants some attention from shareholders, but we don't think they should be worried. On another note, we conducted an in-depth investigation of the company, and identified 3 warning signs for SRG Mining (1 is concerning!) that you should be aware of before investing here.

Of course SRG Mining may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Highlights include 59.9m at 4.80g/t PGM+Au including 42.9m at 5.50g/t PGM+Au, 0.21% Ni, and 140.7m at 1.25g/t PGM+Au and 45.7m at 1.71g/t PGM+Au, 0.22% Ni

VANCOUVER, BC, May 6, 2024 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company")  has received assay results from nine diamond drill holes ("DDH"), four from the North Sector and five from the Central Sector at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project ("Luanga" or "Luanga PGM+Au+Ni Project"), located in the Carajás Mineral Province, state of Pará, Brazil.

"Drilling results at Luanga continue to demonstrate upside, notably with DDH24LU240 returning the highest grade/thickness to date. Additionally, DDH24LU038 stands out as the thickest mineralized drill intersection, extending over 140m from surface," said Luis Azevedo, Chairman and CEO. "Drilling continues to show increasing nickel sulphide grades at depth in the Central Sector, while the North Sector shows widening of multiple zones of mineralization, which has the potential to significantly  improve  ratios of near surface mineralized to unmineralized material.  These positive factors strengthen confidence for on-going drilling."

Highlights Include:

  • Drilling in the North Sector continues to show improvements in both mineralized grade and thickness compared to previously reported drilling in this sector. Grades in and around the transitional weathering zone are higher, influenced by supergene enrichment, as shown on Section 1:

    • 59.9m at 4.80g/t PGM+Au, including 42.9m at 5.50g/t PGM+Au, 0.21% Ni

    • 140.7m at 1.25g/t PGM+Au

  • Mineralization intersected on all three drill sections are at shallow depths (<150m), which augurs well for the future. Furthermore, the substantial volumes of mineralization, indicated by these wide intersections near surface, could support lower strip ratios in these areas.

  • Mineralization remains open at depth, while evidence of increasing PGM and nickel grades at depth remains a common theme in the Central Sector.

HOLE-ID

From

To

Thickness(m)

Pd

Pt

Rh

Au

PGM + Au

Ni* (%) Sulphide

TYPE

(m)

(m)

(g/t)

(g/t)

(g/t)

(g/t)

(g/t)

DDH24LU236

25.30

28.30

3.00

2.16

5.53

1.15

0.07

8.91

NA

LS

And

178.25

187.25

9.00

1.11

0.93

0.22

0.02

2.28

0.02

FR

DDH24LU237

79.70

104.90

25.20

1.52

0.65

0.08

0.05

2.29

0.24

FR

DDH24LU238

5.00

145.70

140.70

0.57

0.66

0.01

0.01

1.25

NA

Ox/FR

DDH24LU240

0.00

59.85

59.85

3.02

1.46

0.26

0.06

4.80

NA

Ox/FR

Including

0.00

17.00

17.00

1.98

0.85

0.16

0.04

3.04

NA

Ox

Also Including

17.00

59.85

42.85

3.43

1.71

0.30

0.06

5.50

0.21

FR

And

64.85

84.85

20.00

0.88

0.85

0.15

0.01

1.89

0.01

FR

DDH24LU241

75.80

86.80

11.00

1.93

0.65

0.10

0.07

2.76

0.32

FR

DDH24LU244

34.56

80.30

45.74

1.14

0.43

0.08

0.06

1.71

0.22

FR

Notes: 

All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.

Given orientation of drilling and mineralization, intercepts are estimated at 110% to 120% of true thickness in the Central Sector and 125% to 140% of true thickness in the North Sector.

Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphide. Recovery methods and results will differ based on the type of mineralization.

* Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays

Luanga Drilling Update

Results from nine diamond drill holes have been received from the North and Central Sectors. All the drill holes herein reported are angled holes (-60 degrees), towards a 090° azimuth in the North and 330° azimuth in the Central Sector. Together, this set of drill holes comprise a total of 1,581 metres of diamond drilling.

Section 1 (Figure 1) in the North Sector shows a new infill drill section with DDH24LU238 being the deepest drill hole on the section, exhibiting an exceptionally wide (140m) mineralized intersection. Nearer to surface, this wide zone of mineralization is replicated by two zones of mineralization in DDH24LU240, totalling ~80m of mineralization with the remainder daylighting above surface. The grades in DDH24LU240 are significantly higher, mostly due to the influence of high-grade supergene enrichment in and around the transitional zone above the base of oxidation. There are a further two zones of mineralization stratigraphically below, and all three zones are almost entirely within 150m of the surface, which augurs well for potential future MRE updates at these shallow depths.

Figure 1: North Sector (Section 1 on Figure 4). High-grade and wide PGM+Au mineralization close to surface. (CNW Group/Bravo Mining Corp.)

Section 2 (Figure 2) in the North Sector shows evidence of increasing thickness (~50m) and increased presence of nickel sulphides (0.23% Ni) at depth in DDH24LU241, with mineralization still open at depth. Section 2 is also an infill section and, again, all the mineralization intersected is within <150m below surface. Coupled with the high volume of mineralization near or at surface, both Section 1 (above) and Section 2 (below) demonstrate the potential for improving strip ratios (mineralized to unmineralized material) in these areas, which bodes well for the future.

Figure 2: Central Sector (Section 2 on Figure 4). Wide zones of mineralization with improving nickel sulphides at depth in fresh rock. (CNW Group/Bravo Mining Corp.)

Section 3 (Figure 3) in the Central Sector also shows evidence of increasing grade in both PGM and nickel sulphide mineralization and remains open at depth. The grade of PGM and nickel mineralization intersected in DDH24LU230 (35.2m at 1.59g/t PGM+Au, 0.14% Ni) improves significantly at depth in DDH24LU237 (25.2m at 2.29g/t PGM+Au, 0.24% Ni), while all mineralization on the section is again less than 150m below surface and remains open at depth.

Figure 3: Central Sector (Section 3 on Figure 4). Improving grades in PGM and nickel sulphide mineralization at depth in fresh rock. (CNW Group/Bravo Mining Corp.)

Drill Results Status Update

A total of 285 drill holes have been completed by Bravo to date, for 61,190 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 244 Bravo drill holes to date. Assay results for 33 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).

Complete Table of Recent Intercepts.

HOLE-ID

From

To

Thickness (m)

Pd

Pt

Rh

Au

PGM + Au

Ni* (%) Sulphide

TYPE

(m)

(m)

(g/t)

(g/t)

(g/t)

(g/t)

(g/t)

DDH24LU236

25.30

28.30

3.00

2.16

5.53

1.15

0.07

8.91

NA

LS

And

178.25

187.25

9.00

1.11

0.93

0.22

0.02

2.28

0.02

FR

DDH24LU237

62.07

67.10

5.03

0.20

0.08

0.15

0.07

0.49

0.13

FR

And

79.70

104.90

25.20

1.52

0.65

0.08

0.05

2.29

0.24

FR

DDH24LU238

5.00

145.70

140.70

0.57

0.66

0.01

0.01

1.25

NA

Ox/FR

And

160.70

169.60

8.90

0.53

0.61

0.01

0.01

1.16

0.01

FR

DDH24LU239

0.00

18.90

18.90

0.37

0.15

0.01

0.04

0.58

NA

Ox

And

27.90

39.59

11.69

1.10

0.41

0.06

0.01

1.58

0.10

FR

And

58.60

97.60

39.00

0.28

0.27

<0.01

0.03

0.58

0.01

FR

DDH24LU240

0.00

59.85

59.85

3.02

1.46

0.26

0.06

4.80

NA

Ox/FR

Including

0.00

17.00

17.00

1.98

0.85

0.16

0.04

3.04

NA

Ox

Also Including

17.00

59.85

42.85

3.43

1.71

0.30

0.06

5.50

0.21

FR

And

64.85

84.85

20.00

0.88

0.85

0.15

0.01

1.89

0.01

FR

And

124.85

152.00

27.15

0.48

0.58

0.01

0.01

1.08

0.01

FR

DDH24LU241

0.00

7.25

7.25

0.33

0.14

0.04

0.08

0.59

NA

Ox

And

39.60

89.80

50.20

0.86

0.30

0.05

0.07

1.28

0.23

FR

Including

75.80

86.80

11.00

1.93

0.65

0.10

0.07

2.76

0.32

FR

And

104.45

129.20

24.75

0.29

0.19

<0.01

<0.01

0.49

0.01

FR

DDH24LU242

0.00

29.70

29.70

0.30

0.35

0.01

0.01

0.67

NA

FR

DDH24LU244

34.56

80.30

45.74

1.14

0.43

0.08

0.06

1.71

0.22

FR

DDH24LU246

39.00

65.10

26.10

0.43

0.33

<0.01

0.01

0.77

0.02

FR

And

83.10

86.10

3.00

0.43

1.52

0.59

0.01

2.55

0.03

LS

Notes: 

All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.

Given orientation of drilling and mineralization, intercepts are estimated at 110% to 120% of true thickness in the Central Sector and 125% to 140% of true thickness in the North Sector.

Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphide. Recovery methods and results will differ based on the type of mineralization.

* Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays

Figure 4: Location of Bravo Drilling and Sections Reported in this News Release (CNW Group/Bravo Mining Corp.)

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.

The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo's current Environmental, Social and Governance activities includes planting more than 18,000 high-value trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

Technical Disclosure

Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "wider", "Increasingly", "upside", "notably", "highest", "thickest", "potential", "improve", "confidence", "augurs well", "substantial", "exceptionally", "significantly", " variants of these words and other similar words, phrases, or statements that certain events or conditions "may" or "will" occur. This news release contains forward-looking information pertaining to the Company's ongoing drill program and the results thereof; comparisons to historical and/or prior Bravo drilling; the potential for extensions to mineralization at depth; the potential for greater thicknesses and/or higher grades at depth and the implications of copper in some areas; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, 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, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that PGM and/or Ni grades and mineralized thicknesses are improving to depth; that final drill and assay results will be in line with management's expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

HOLE-ID

Company

East (m)

North (m)

RL (m)

Datum

Depth (m)

Azimuth

Dip

Sector

DDH24LU236

Bravo

659346.947

9343322.999

245.843

SIRGAS2000_UTM_22S

230.60

90.00

-60.00

North

DDH24LU237

Bravo

658354.030

9340579.220

271.150

SIRGAS2000_UTM_22S

225.45

330.00

-60.00

North

DDH24LU238

Bravo

659366.799

9343423.024

242.042

SIRGAS2000_UTM_22S

180.55

90.00

-60.00

North

DDH24LU239

Bravo

658377.573

9340736.808

262.460

SIRGAS2000_UTM_22S

135.80

330.00

-60.00

Central

DDH24LU240

Bravo

659413.665

9343423.070

245.487

SIRGAS2000_UTM_22S

180.35

90.00

-60.00

North

DDH24LU241

Bravo

658398.402

9340700.667

264.551

SIRGAS2000_UTM_22S

190.70

330.00

-60.00

Central

DDH24LU242

Bravo

658353.424

9340778.597

265.336

SIRGAS2000_UTM_22S

90.75

330.00

-60.00

Central

DDH24LU244

Bravo

658561.196

9340813.883

246.697

SIRGAS2000_UTM_22S

195.70

330.00

-60.00

Central

DDH24LU246

Bravo

658653.731

9340856.241

248.457

SIRGAS2000_UTM_22S

150.65

330.00

-60.00

Central

Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

Quality Assurance and Quality Control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

Bravo SGS Geosol

Preparation

Method

Method

Method

Method

For All Elements

Pt, Pd, Au

Rh

Sulphide Ni, Cu

Trace Elements

PRPCLI (85% at 200#)

FAI515

FAI30V

AA04B

ICP40B

Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

Cision

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Eastern Platinum (TSE:ELR) Full Year 2023 ResultsKey Financial Results

  • Revenue: US$106.9m (up 115% from FY 2022).

  • Net income: US$13.8m (up from US$2.65m loss in FY 2022).

  • Profit margin: 13% (up from net loss in FY 2022). The move to profitability was driven by higher revenue.

  • EPS: US$0.077 (up from US$0.019 loss in FY 2022).

earnings-and-revenue-history

All figures shown in the chart above are for the trailing 12 month (TTM) period

Eastern Platinum's share price is broadly unchanged from a week ago.

Risk Analysis

You still need to take note of risks, for example – Eastern Platinum has 3 warning signs (and 1 which is a bit concerning) we think you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

VANCOUVER, BC, May 3, 2024 /CNW/ – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ("Eastplats" or the "Company") is pleased to report that it has filed its Audited Consolidated Financial Statements for the fiscal year ended December 31, 2023 and the corresponding Management's Discussion and Analysis and Annual Information Form. Below is a summary of the Company's financial results for the fourth quarter of 2023 ("Q4 2023") and for the fiscal year ended December 31, 2023 ("FY2023") (all amounts in USD unless specified) in comparison to the restated periods in 2022 ("Restated Q4 2022" and "Restated FY2022", respectively):

  • Revenue for Q4 2023 increased to $30.5 million (Restated Q4 2022 – $12.4 million), representing a 146.0% increase. Revenue for FY2023 increased to $106.9 million, a record full year high (Restated FY2022 – $53.9 million), representing a 98.3% increase.

  • Mine operating income increased by $9.6 million to $7.8 million in Q4 2023 (Restated Q4 2022 mine operating loss – –$1.8 million), resulting in a gross margin of 25.5% in Q4 2023 as compared to -14.5% in Restated Q4 2022. Mine operating income in FY2023 increased by $24.0 million to $31.6 million (Restated FY2022 – $7.6 million), resulting in a gross margin of 29.5% in FY2023 as compared to 14.2% in Restated FY2022.

  • Operating income was $2.8 million in Q4 2023 compared to an operating loss of –$4.8 million in Restated Q4 2022. Operating income increased by $23.2 million to $18.5 million in FY2023 from an operating loss of –$4.7 million in Restated FY2022, a 493.6% increase in operating income.

  • Net income attributable to shareholders was $3.3 million ($0.02 earnings per share) in Q4 2023 versus $1.4 million ($0.01 earnings per share) in Restated Q4 2022. The increase in net income was largely attributable to the significant increase in third-party chrome concentrate sales in the period offset by pre-production costs of $2.1 million as the Company initiated the restart of the Zandfontein underground section at the Crocodile River Mine ("CRM"). The Restated Q4 2022 net income was attributable to a restated operating loss offset by other income of $6.6 million, which was mainly related to the change in value of the Company's loans payable.

  • Net income attributable to shareholders increased to $13.8 million ($0.08 earnings per share) in FY2023 compared to a net loss attributable to shareholders of –$0.9 million ($0.01 loss per share) in Restated FY2022. The increase in income during FY2023 is mainly attributable to the increased revenue and gross margins generated by remining and processing the Company's tailings resources at the CRM to produce chrome concentrate and platinum group metals ("PGM") concentrate, respectively, offset by pre-production costs incurred in Q4 2023 as described in the previous point. The Restated FY2022 net loss was attributable to an operating loss offset by other income of $7.9 million, which mainly related to the change in value of the Company's loans payable.

  • The Company had a working capital deficit (current assets less current liabilities) of $15.5 million as at December 31, 2023 (Restated December 31, 2022 – working capital deficit of $37.8 million) and short-term cash resources of $21.3 million (consisting of cash, cash equivalents, and short-term investments)(Restated December 31, 2022$2.4 million).

Wanjin Yang, Chief Executive Officer and President of Eastplats commented, "We are proud of the results that our chrome and PGM businesses have achieved. The team continues to work hard as the Retreatment Project comes to an end, turning its focus to ramping up underground tonnages in the Zandfontein underground section at the Crocodile River Mine. Eastplats remains committed to continuing its operational and cost efficiency initiatives while being mindful of PGM market price movements."

Prior Year Error – Restatement of Comparatives

Certain 2022 comparative numbers in the FY2023 Audited Consolidated Financial Statements and corresponding Management's Discussion and Analysis have been restated to correct an error in the Fiscal 2022 consolidated financial statements that was identified subsequent to the 2022 year-end and is discussed below.

In connection with the preparation of the Company's consolidated financial statements for the year ended December 31, 2023, an error was identified in the recognition of revenue related to a chrome concentrate sales transaction in the fourth quarter of 2022, which impacts the Company's previously filed audited consolidated financial statements for the year ended December 31, 2022 and its unaudited interim consolidated financial statements for the three months ended March 31, 2023 ("Restated Q1 2023"). Chrome concentrate revenue is recognized when control is transferred to the buyer and payment is considered probable. A sales transaction that was included in deferred revenue at the end of 2022 and recognized as revenue in the first quarter of 2023 should have been recognized in the fourth quarter of 2022 based on the fact that the Company had met all of its required performance obligations at the time, as supported by the underlying contract and bill of lading. Previously reported revenue from 2022 was thus understated by $4.0 million, with associated errors in production costs, inventories and deferred revenue.

The following table presents the effects of the restatement on the individual line items within the Company's Consolidated Statement of Income (Loss), Statement of Comprehensive Income (Loss) and Statement of Financial Position, expressed in thousands of U.S. dollars, except for per share amounts. The corrected prior period error had no impact on cash flows.

Year Ended December 31, 2022

As previously reported

Adjustment

As restated

$

$

$

Revenue

49,834

4,049

53,883

Production costs

(39,739)

(2,339)

(42,078)

Mine operating income

5,930

1,710

7,640

Operating income (loss)

(6,453)

1,710

(4,743)

Net income (loss) for the year

(2,504)

1,710

(794)

Net (loss) attributable to equity shareholders of the Company

(2,648)

1,710

(938)

Earnings (loss) per share, basic and diluted

(0.02)

0.01

(0.01)

Comprehensive income (loss) forthe year

(8,947)

1,766

(7,181)

As at December 31, 2022

As previously reported

Adjustment

As restated

$

$

$

Inventories (current)

11,320

(2,418)

8,902

Deferred revenue (current)           

17,300

(4,184)

13,116

The Restated Q1 2023 comparatives will be presented in the interim consolidated financial statements for the three months ended March 31, 2024, which are due to be filed by May 15, 2024.

The consolidated financial statements and related financial information for the affected period contained in the Company's filings filed prior to May 3, 2024 should no longer be relied upon.

Operations

The Company generated revenue from processing PGM and chrome concentrates during Q4 2023 and FY2023. Eastplats' majority of revenue (approximately 96% and 95% for Q4 2023 and FY2023, respectively) is from chrome concentrate sales. Until July of 2022, this revenue was based on the Union Goal offtake agreement (the "Union Goal Offtake Agreement") entered into between the Company's subsidiary Barplats Mines (Pty) Limited ("Barplats") and Union Goal Offshore Solution Limited ("Union Goal") in relation to chrome concentrate production from the Retreatment Project. Previously, and until the end of the second quarter of 2022, the Retreatment Project produced revenue based on tons of material made available for processing by remining and processing the tailings, recovery of certain operational costs and allocation of the upfront cash payment for the offtake of chrome concentrate to Union Goal.

Additional non-cash deferred revenue was recognized based on tons made available for processing from the discounting of the chrome equipment debt and the construction loan based on an effective discount rate. Although the Union Goal Offtake Agreement remains in place, Union Goal stopped taking shipments of chrome concentrate in June 2022. Since July 1, 2022, chrome revenue has been recognized only through third-party sales of chrome concentrate. The Company also derives PGM revenue under a PGM offtake agreement with Impala Platinum Limited ("Impala") from further processing of tailings materials following the production of chrome concentrates. The Retreatment Project is expected to continue operating into late 2024 when the original CRM tailings from the tailings storage facility ("TSF") are expected to be fully processed. The Company has initiated the restart of the Zandfontein underground section and is expected to process underground Run-of-Mine ("ROM") ore in May or June of 2024.

Summary of chrome production for the three months and year ended December 31, 2023 and 2022:

Q4 2023

Q4 2022

FY2023

FY2022

Total Tailings Feed (Tons)

480,777

655,011

2,247,705

2,548,785

Average grade Cr concentrate     

38.7 %

38.6 %

38.7 %

38.7 %

Tons of Cr concentrate

109,056

156,738

486,166

602,111

Summary of PGM production for the three months and year ended December 31, 2023 and 2022:

Q4 2023   

Q4 2022   

FY2023   

FY2022   

Tons of PGM concentrate(dry)     

900

1,337

3,869

5,616

PGM ounces produced (6E)*

1,366

2,232

6,660

8,742

*PGM 6E ounces are estimates until final exchanges and umpire results have been concluded, which can take up to three months.

Outlook

The Company's targets for 2024 are as follows:

  • Resolve the outstanding receivables and related matters with Union Goal (ongoing);

  • Ramp-up the Zandfontein underground operations (ongoing);

  • Confirm capital plans to support the full re-opening of Zandfontein underground operations at the CRM from external or internal sources (ongoing);

  • Complete the second phase of the TSF capital works program and confirm the TSF dam space for new ROM tailings (ongoing);

  • Optimize Main Plant Circuit B for underground operations (initiated);

  • Renovate Circuit D to high energy flotation cells for better ROM processing recovery rate to 82% or higher (initiated);

  • Advance the Mareesburg and Spitzkop project environmental work to complete the Environmental Impact Assessment ("EIA") and other environmental studies and amendments (ongoing); and

  • Continue prospecting and assessment work in relation to Zandfontein, Crocette and Kareespruit sections of the CRM and Kennedy's Vale and Spitzkop mines at the eastern limb of the Bushveld Complex (ongoing).

Eastplats completed a life-of-mine study and underground mine design for Zandfontein in 2022 and the Board of Directors supported carrying out the Zandfontein underground restart business plan, subject to final evaluation and funding arrangements. During 2024, the Company is focusing on ramping up operations at the Zandfontein underground, subject to capital availability and profitability of its chrome operations. If successful, PGM production is expected to increase in 2024. There are no other expected changes to the business in 2024.

Care and maintenance will continue for the Company's previously developed eastern limb projects for 2024. The Company is actively looking at opportunities for its other assets including continuing to explore options to utilize or monetize these assets.

The Company has a primary listing on the Toronto Stock Exchange and a secondary listing on the JSE Limited.

The Company has filed the following documents, under the Company's profile on SEDAR+ at www.sedarplus.ca:

  • Audited Consolidated Financial Statements for the fiscal year ended December 31, 2023;

  • Management's Discussion and Analysis for the fiscal year ended December 31, 2023; and

  • Annual Information Form at December 31, 2023.

The audited consolidated financial statements for the fiscal year ended December 31, 2023 is available for download at https://www.eastplats.com/investors/quarterly-reports/F2023/ and is also available on the JSE's website at:

https://senspdf.jse.co.za/documents/2023/JSE/ISSE/EPS/FY23.pdf.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company's properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore.

Operations at the Crocodile River Mine currently include re-mining and processing its tailings resource from the Barplats Zandfontein tailings dam and mining and processing ore from the Zandfontein underground section to both produce PGM and chrome concentrates.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation.  Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company.  Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "will", "plan", "intends", "may", "could", "expects", "anticipates" and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company's most recent Annual Information Form available under the Company's profile on www.sedarplus.ca.

In particular, this press release contains, without limitation, forward-looking statements pertaining to: the length of operations of the Retreatment Project into late 2024; processing of the CRM tailings from the TSF; timing for the processing of underground ROM in may or June 2024; the Company's targets for 2024 including resolving the outstanding receivables and related matters with Union Goal; ramping-up the Zandfontein underground operations; confirming capital plans to support the full re-opening of Zandfontein underground operations at the CRM; completing the second phase of the TSF capital works program and confirming the TSF dam space for new ROM tailings; optimizing Main Plant Circuit B for underground operations; renovating Circuit D to high energy flotation cells for better ROM processing recovery rate to 82% or higher; advancing the Mareesburg project environmental work to complete the EIA and other environmental studies and amendments; continuing prospecting and assessment work in relation to Zandfontein, Crocette and Spitzkop ore bodies of the CRM and Kennedy's Vale and Spitzkop mines at the eastern limb of the Bushveld Complex; PGM production for 2024; care and maintenance will continue for the Company's eastern limb projects for 2024; and other potential changes during 2024. These forward-looking statements are based on assumptions made by and information currently available to the Company.  Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.  By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, unanticipated problems that may arise in the Company's production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement on Forward-Looking Information" section contained in the Company's most recent Management's Discussion and Analysis available under the Company's profile on www.sedarplus.ca.  The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Eastern Platinum Ltd.

Cision

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Trading Symbol: ELR (TSX); EPS (JSE)

VANCOUVER, BC, April 30, 2024 /CNW/ – Eastern Platinum Limited ("Eastplats" or the "Company") is providing this bi-weekly default status report in accordance with National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On April 4, 2024, the Company announced that it was unable to file its annual audited financial statements for the fiscal year ended December 31, 2023 and the related management's discussion and analysis and annual information form for the fiscal year ended December 31, 2023 (the "Required Filings") by the deadline of April 1, 2024.

Eastplats (CNW Group/Eastern Platinum Ltd.)

On April 3, 2024, the British Columbia Securities Commission, as principal regulator, granted a temporary management cease trade order (the "MCTO") to the Company. The Company intends to file the 2023 Required Filings as soon as practicable.

Pursuant to NP 12-203, the Company must file bi-weekly default status reports in the form of further news releases during the period of the MCTO. The Company reports that since its news release of April 17, 2024, there have been no changes regarding the information contained in that news release that would reasonably be expected to be material to an investor. The Company confirms there have been no failures by it in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203, and there has not been, nor is there anticipated to be, any specified default subsequent to the default announced in the Company's news release of April 4, 2024. Lastly, there is no material information concerning the affairs of the Company that has not been generally disclosed.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of platinum group metal ("PGM") and chrome assets in the Republic of South Africa. All of the Company's properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore.

Operations at the Crocodile River Mine currently include re-mining and processing its tailings resource from the Barplats Zandfontein tailings dam and mining and processing ore from the Zandfontein underground section to both produce PGM and chrome concentrates.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "will", "plan", "intends", "may", "will", "could", "expects", "anticipates" and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company's most recent Annual Information Form available under the Company's profile on www.sedarplus.ca.

In particular, this press release contains forward-looking statements pertaining to filing of the Required Filings and the timing thereof. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, commodity prices, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement on Forward-Looking Information" section contained in the Company's most recent Management's Discussion and Analysis available under the Company's profile on www.sedarplus.ca. The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Eastern Platinum Ltd.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/30/c4612.html

VANCOUVER, BC / ACCESSWIRE / April 22, 2024 / Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:J0G) (the "Company" or "Stillwater") is pleased to announce that, due to strong investor demand, the non-brokered private placement announced March 28, 2024, (the "Offering") has been increased to 27.5 million units for gross proceeds of $3.85 million from the previously announced 17,857,143 units for gross proceeds of $2.5 million.

All other terms of the Offering remain unchanged. Glencore Canada Corporation ("Glencore"), a wholly-owned subsidiary of Glencore plc, has agreed to purchase 15 million units of Stillwater pursuant to the Placement, for gross proceeds of $2.1 million.

The Offering is expected to close on or about April 26, 2024, and is subject to customary conditions, including acceptance by the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.

The Company confirms that certain insiders of the Company will subscribe for units in the Offering. The issuances of units to insiders will be considered related party transactions within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority approval requirements in MI 61-101 in respect of any such insider participation, as neither the fair market value of the securities to be issued, nor the fair market value of the consideration for the securities to be issued, insofar as it involves such insiders, will exceed 25% of the Company's market capitalization as calculated in accordance with MI 61-101.This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Stillwater have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West with the largest nickel resource in an active US mining district as part of a compelling suite of nine minerals now listed as critical in the USA. To date, five Platreef-style nickel and copper sulphide deposits host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold at Stillwater West, and all deposits remain open for expansion along trend and at depth. Results are pending from resource expansion drilling completed in the fall of 2023.

Stillwater also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals' development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & DirectorEmail: info@criticalminerals.com Phone: (604) 357 4790Web: http://criticalminerals.com Toll Free: (888) 432 0075

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements" or "forward-looking information" in accordance with applicable securities laws. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, potential exploration results, the timing and success of exploration activities generally, and expectations regarding the completion of the Placement, are forward-looking statements that involve various risks and uncertainties. Although Stillwater believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals or satisfaction of other conditions to closing of the Placement, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.

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: Stillwater Critical Minerals

View the original press release on accesswire.com

Highlights include 115m at 1.71g/t PGM+Au and 158m at 1.27g/t PGM+Au, including 36m at 2.81g/t PGM+Au

VANCOUVER, BC, April 15, 2024 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") announced that it has received assay results from seven trenches in the Central Sector at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project ("Luanga" or "Luanga PGM+Au+Ni Project"), located in the Carajás Mineral Province, state of Pará, Brazil.

"Bravo's trenching program continues to return excellent results that are better than the average oxide grades reported in the existing Mineral Resource Estimate ("MRE"). In addition, the increased lateral extent of oxide PGM+Au mineralization at surface is likely to increase the oxide volume component of a future MRE update. The high-grade zones present within these broad intersections also continue to validate or improve the higher grades seen in the drilling below the trench lines, further supporting our interpretation of supergene enrichment," said Luis Azevedo, Chairman and CEO of Bravo. "Furthermore, it is encouraging to see trenching results from the Central Sector continuing to show the same broad lateral distribution that was consistently observed in the Northern Sector, which bodes well for future resource growth."

Highlights Include:

  • Results from the trenches reported are from the northern end of the Central Sector and continue to show broad distribution of oxide mineralization (158m wide in TRC23LU013 and 152m wide in TRC23LU015).

  • These results continue to demonstrate the much greater lateral extents of surface oxide mineralization in comparison to the narrower zones of primary (fresh rock) mineralization in drilling below the trenches.

  • Results confirm the presence of supergene enrichment in the saprolite zone (above the base of oxidation), encountering grades that are generally higher than MRE average grades for oxide mineralization.

  • Grades in trenches further corroborate or improve upon intersections encountered by drilling in the underlying fresh rock, while higher-grade zones within trenches, such as TRC23LU015 (17m at 2.30g/t PGM+Au) also validate or surpasses the high-grade intersections encountered by drilling.

  • Grades are consistently better than MRE average grades for the oxide zone which, in combination with the broader distribution, suggest potential for increased tonnes of oxide mineralization at higher grades in future mineral resource updates.

  • Trenching is planned to continue along the entire 8.1km strike length of the Luanga deposit, with work now progressing through the Central Sector, towards the Southern Sector.

TRENCH-ID

From

 (m)

To

 (m)

Width

  (m)

Pd

(g/t)

Pt

(g/t)

Rh

(g/t)

Au (g/t)

PGM + Au (g/t)

TYPE

TRC24LU009

143.70

218.15

74.45

0.66

0.42

0.07

0.04

1.20

Ox

TRC24LU010

173.18

245.78

72.60

0.73

0.53

0.09

0.04

1.39

Ox

TRC24LU011

190.60

206.60

16.00

0.32

1.46

0.16

0.01

1.95

Ox

TRC24LU012

47.60

162.57

114.97

0.89

0.64

0.12

0.06

1.71

Ox

TRC23LU013

25.80

183.90

158.10

0.71

0.43

0.08

0.04

1.27

Ox

Including

83.90

120.30

36.40

1.61

0.94

0.19

0.05

2.81

Ox

TRC23LU015

0.00

152.70

152.70

0.67

0.39

0.08

0.02

1.15

Ox

Including

0.00

17.30

17.30

1.27

0.86

0.15

0.03

2.30

Ox

Notes:  All 'From', 'To' depths, and 'Thicknesses' are along the topographic surface.             Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

Luanga Trenching Program

Trenching across the strike of the outcrop/sub-crop aims to better interpret near surface mineralization and to reduce the distance/spacing between assay data points for later resource classification to the indicated category. The program continues to be highly successful.

Trenches TRC24LU009 to 012 and TRC23LU013 to 015 cover the northern end of the Central Sector (Figure 1). Trenching continues in the Central Sector, progressing towards the Southwest Sector. Figure 4 shows the location of trenches reported in this press release.

Figure 1: Trenching in the Central Sector. (CNW Group/Bravo Mining Corp.)

Trenching results continues to highlight significant expansion in the lateral extent of shallow oxide mineralization, which extends out across the topographic high that is a ridge and down its flanks, along the 8.1km strike length of the Luanga deposit. Results continue to confirm the presence of supergene enrichment in the saprolite zone (above the base of oxidation), encountering grades that are generally higher than MRE average grades for oxide mineralization. Grades are supported by shallow intersections in nearby drillholes, and as reported in previous trench results (see December 14th 2023, September 26th 2023 and May 08th, 2023).

Figure 2 (Section 1) demonstrates the extent of surface oxide mineralization, in comparison to the narrower zones of primary (fresh rock) mineralization in drilling below the trench. This "mushrooming" of oxide mineralization in the supergene zone demonstrates the potential for volumetric growth in future oxide mineral resources that were previously not possible to define by drilling alone.

Trenching to date continues to be successful, and is likely to enhance future MREs, all while being very cost effective. Trenching is planned to continue along the entire 8.1km strike length of the Luanga deposit, with work now progressing in the Central Sector

Figure 2: Central Sector (Section 1 on Figure 4) – Trenching showing supergene enrichment and lateral extents to surface mineralization. (CNW Group/Bravo Mining Corp.)

Figure 3 (Section 2) also shows a significant blanket of oxide mineralization at surface, in comparison to fresh rock mineralized widths in drilling below the trench. While the higher-grade zone within trench TRC23LU015 (17m at 2.30g/t PGM+Au) supports or improves on the highest-grade intersections encountered by drilling below.

The same sampling, assay laboratory procedures and QAQC protocols as applied to drill core sampling are applied to trench samples.

Luanga Drilling & Trenching Status

A total of 280 drill holes have been completed by Bravo to date, for 60,168.40 metres, including eight metallurgical holes (not subject to routine assaying). Results have been reported for 235 Bravo drill holes to date. Assay results for 37 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes). A total of 26 trenches have been completed to date, with results for 22 trenches reported and  results for four pending.

Figure 3: Central Sector (Section 2 on Figure 4) – Trenching showing supergene enrichment and lateral extents to surface mineralization. (CNW Group/Bravo Mining Corp.)

Complete Table of Recent Intercepts – Trenching

TRENCH-ID

From

(m)

To

(m)

Thickness (m)

Pd

(g/t)

Pt

(g/t)

Rh

(g/t)

Au (g/t)

PGM + Au (g/t)

TYPE

TRC24LU009

143.70

218.15

74.45

0.66

0.42

0.07

0.04

1.20

Ox

TRC24LU010

44.70

69.90

25.20

0.40

0.19

0.04

0.05

0.67

Ox

112.78

169.18

56.40

0.30

0.16

0.02

0.04

0.52

Ox

173.18

245.78

72.60

0.73

0.53

0.09

0.04

1.39

Ox

TRC24LU011

58.70

60.70

2.00

1.47

0.25

0.01

0.11

1.84

Ox

89.40

141.00

51.60

0.71

0.38

0.06

0.05

1.20

Ox

142.00

163.60

21.60

0.51

0.26

0.04

0.01

0.83

Ox

190.60

206.60

16.00

0.32

1.46

0.16

0.01

1.95

Ox

206.60

228.90

22.30

0.18

0.31

0.04

0.01

0.54

Ox

TRC24LU012

47.60

162.57

114.97

0.89

0.64

0.12

0.06

1.71

Ox

TRC23LU013

25.80

183.90

158.10

0.71

0.43

0.08

0.04

1.27

Ox

Including

83.90

120.30

36.40

1.61

0.94

0.19

0.05

2.81

Ox

TRC23LU014

0.00

83.40

83.40

0.56

0.25

0.04

0.09

0.93

Ox

TRC23LU015

0.00

152.70

152.70

0.67

0.39

0.08

0.02

1.15

Ox

Including

0.00

17.30

17.30

1.27

0.86

0.15

0.03

2.30

Ox

Notes:  All 'From', 'To' depths, and 'Thicknesses' are along the topographic surface.             Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

Figure 4: Location of Bravo Trenches and Sections Reported in this News Release (CNW Group/Bravo Mining Corp.)

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.

The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo's current Environmental, Social and Governance activities includes planting more than 25,000 high-value trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

Technical Disclosure

Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "compare well", "elevated", "expect", "anticipated", "future results", "continue", "outstanding results", "positive impact", "potential", "successful", "interpretation", variants of these words and other similar words, phrases, or statements that certain events or conditions "may", "should" or "will" occur. This news release contains forward-looking information pertaining to the Company's ongoing trenching program; the interpretation of the results of trench data, including that the mineralization thickens in the saprolite, is locally supergene enriched, and the impact on future mineral resource estimates thereof; the potential that similar thickening and supergene enrichment may be present along the entire strike length of the Luanga deposit and the impact on mineral resource estimates thereafter; the potential future economics of the saprolite material, including the recoverability of PGMs and Au therein; the results of planned additional trenching; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, 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, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to results from trenching reasonably reflect consistent zones of oxide mineralization and that future results from additional trenching will continue to see similar broad distribution of oxides with higher grades that the current MRE; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Trench Location Details

HOLE-ID

Company

East (m)

North (m)

RL (m)

Datum

Length (m)

Azimuth

Dip

Sector

TRC24LU009

Bravo

659340.68

9341162.14

222.07

SIRGAS2000_UTM_22S

218.15

330.00

0.00

Central

TRC24LU010

Bravo

659430.88

9341219.66

217.51

SIRGAS2000_UTM_22S

245.78

330.00

0.00

Central

TRC24LU011

Bravo

659505.67

9341288.04

216.41

SIRGAS2000_UTM_22S

228.90

330.00

0.00

Central

TRC24LU012

Bravo

659588.93

9341340.00

205.14

SIRGAS2000_UTM_22S

197.62

330.00

0.00

Central

TRC23LU013

Bravo

659672.34

9341393.00

203.64

SIRGAS2000_UTM_22S

183.90

330.00

0.00

Central

TRC23LU014

Bravo

659762.25

9341437.66

196.63

SIRGAS2000_UTM_22S

134.75

330.00

0.00

Central

TRC23LU015

Bravo

659828.70

9341524.80

211.30

SIRGAS2000_UTM_22S

152.70

330.00

0.00

Central

Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the SGS laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

Quality Assurance and Quality Control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

Bravo SGS Geosol

Preparation

Method

Method

Method

Method

For All Elements

Pt, Pd, Au

Rh

Sulphide Ni, Cu

Trace Elements

PRPCLI (85% at 200#)

FAI515

FAI30V

AA04B

ICP40B

Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/15/c3332.html

VANCOUVER, BC / ACCESSWIRE / April 11, 2024 / Commerce Resources Corp. (TSXv:CCE)(FSE:D7H0)(OTCQX:CMRZF) (the "Company" or "Commerce") is pleased to announce the publication of a paper on rare earth element ("REE") mineral processing, which has been supported by sample material from the Ashram Rare Earth and Fluorspar Deposit, wholly owned by the Company, located in Nunavik, Quebec.

The paper, titled "Assessment of the impact of grinding conditions and water quality on the flotation of rare earth elements bearing minerals using hydroxamic acid" was published earlier this month in The Canadian Journal of Metallurgy and Materials Science, a peer-reviewed international journal.

The publication is part of an ongoing research and development program being carried-out as a collaboration between the Company, Université du Québec en Abitibi-Témiscamingue (UQAT), and Industrial Waste Technology Centre (CTRI). As part of its contribution to the work, the Company provided approximately 1.5 tonnes of Ashram Deposit material to be used as feed for the various test programs. The research and development test programs, targeted at optimization of flotation, are jointly funded through both Provincial and Federal grant mechanisms (see news release dated August 25, 2020).

Company President Chris Grove states, "we are grateful to have been in a position to contribute to this publication and, in general, the continued research and development of REEs in the province of Quebec. Quebec has a wealth of mineral potential, and in the REE space this includes the Ashram Rare Earth and Fluorspar Deposit held by the Company. The Company remains active in the academic space with grant supported collaborations ongoing with several provincial and federal institutions."

The Company is pleased to provide its continued support to the academic and institutional REE research and development industry through the supply of Ashram Deposit material and geological expertise, supporting the development of highly qualified personnel (HQP) in Canada. The Ashram Deposit outcrops at surface and has allowed for cost-effective collection of large amounts of material for test work. As such, the Company is actively engaged with various research and academic institutions to support the advancement of the REE industry in Canada, and in Quebec specifically.

About the Ashram Deposit

The Ashram Deposit ranks as one of the largest REE (and fluorspar) deposits globally, consisting of a monazite dominated, single mineralized body outcropping at surface, and has a footprint approximately 700 m along strike, over 300 m across, and 600 m deep, remaining open in several directions. The deposit hosts a measured resource of 1.6 million tonnes (Mt) at 1.77% rare earth oxide (REO) and 3.8% F, an indicated resource of 27.7 Mt at 1.90% REO and 2.9% F, and an inferred resource of 219.8 Mt at 1.88% REO and 2.2% F, at a cut-off grade of 1.25% REO (Effective Date July 5th, 2012). Note, mineral resources are not mineral reserves as they do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioned to become one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

"Chris Grove"Chris GroveCEO and President Tel: 604.484.2700Email: cgrove@commerceresources.com Web: http://www.commerceresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include that that mixed REC is readily saleable; that partial separation of REEs will allow for the marketability of individual elements to be produced; that Ashram has the potential to become one of the largest fluorspar deposit and a long-term supplier to the met-spar and acid-spar markets; and that the Company is positioning to be one of the lowest cost rare earth element producers globally. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these events, activities or developments from coming to fruition include: that we may not be able to fully finance any additional exploration on the Ashram Project; that even if we are able raise capital, costs for exploration activities may increase such that we may not have sufficient funds to pay for such exploration or processing activities; the timing and content of any future work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful or samples derived from the Ashram Project may not yield positive results, and even if such tests are successful or initial sample results are positive, the economic and other outcomes may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; geopolitical risks which may result in market and economic instability; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable; The forward-looking statements contained in this news release are made as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

SOURCE: Commerce Resources Corp.

View the original press release on accesswire.com

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

So, the natural question for Bravo Mining (CVE:BRVO) shareholders is whether they should be concerned by its rate of cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

Check out our latest analysis for Bravo Mining

Does Bravo Mining Have A Long Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. When Bravo Mining last reported its December 2023 balance sheet in April 2024, it had zero debt and cash worth US$32m. Looking at the last year, the company burnt through US$15m. That means it had a cash runway of about 2.1 years as of December 2023. That's decent, giving the company a couple years to develop its business. Depicted below, you can see how its cash holdings have changed over time.

debt-equity-history-analysisHow Is Bravo Mining's Cash Burn Changing Over Time?

Although Bravo Mining reported revenue of US$1.4m last year, it didn't actually have any revenue from operations. That means we consider it a pre-revenue business, and we will focus our growth analysis on cash burn, for now. Over the last year its cash burn actually increased by a very significant 82%. While this spending increase is no doubt intended to drive growth, if the trend continues the company's cash runway will shrink very quickly. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.

How Easily Can Bravo Mining Raise Cash?

Given its cash burn trajectory, Bravo Mining shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Since it has a market capitalisation of US$152m, Bravo Mining's US$15m in cash burn equates to about 10% of its market value. As a result, we'd venture that the company could raise more cash for growth without much trouble, albeit at the cost of some dilution.

Is Bravo Mining's Cash Burn A Worry?

On this analysis of Bravo Mining's cash burn, we think its cash runway was reassuring, while its increasing cash burn has us a bit worried. Cash burning companies are always on the riskier side of things, but after considering all of the factors discussed in this short piece, we're not too worried about its rate of cash burn. An in-depth examination of risks revealed 2 warning signs for Bravo Mining that readers should think about before committing capital to this stock.

If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Trading Symbol: ELR (TSX); EPS (JSE)

VANCOUVER, BC, April 4, 2024 /CNW/ – Eastern Platinum Limited ("Eastplats" or the "Company") announces that, further to its news release dated March 18, 2024, it did not file its annual audited financial statements for the fiscal year ended December 31, 2023 and the related management's discussion and analysis and annual information form for the fiscal year ended December 31, 2023 (the "Required Filings") by the deadline of April 1, 2024. The Company made an application to the provincial securities commissions under National Policy 12-203 Cease Trade Orders ("NP 12-203") and has received a Management Cease Trade Order (the "MCTO") in respect of the late filing. During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's Chief Executive Officer, Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities, will not be able to trade the Company's shares.

Eastern Platinum logo (CNW Group/Eastern Platinum Ltd.)

The Company currently expects to file its audited financial statements for the fiscal year ended December 31, 2023 and the related management's discussion and analysis as soon as practicable. Until then, the Company intends to comply with the provisions of the alternative information guidelines as set out in NP 12-203 for as long as it remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a news release.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of platinum group metal ("PGM") and chrome assets in the Republic of South Africa. All of the Company's properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore.

Operations at the Crocodile River Mine currently include re-mining and processing its tailings resource to produce PGM and chrome concentrates from the Barplats Zandfontein tailings dam.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "will", "plan", "intends", "may", "will", "could", "expects", "anticipates" and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company's most recent Annual Information Form available under the Company's profile on www.sedarplus.ca.

In particular, this press release contains forward-looking statements pertaining to filing of the Required Filings and the timing thereof. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, commodity prices, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement on Forward-Looking Information" section contained in the Company's most recent Management's Discussion and Analysis available under the Company's profile on www.sedarplus.ca. The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Eastern Platinum Ltd.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/04/c8121.html

Canada Carbon Inc.

Toronto, Ontario, April 03, 2024 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the "Company" or "Canada Carbon" or "CCB") (TSX-V:CCB),(FF:U7N1) is very pleased to announce a Maiden Mineral Resource Estimate (MRE) for its flagship 100% owned Asbury Graphite Project located 80 kilometres (“km”) NNE of Gatineau, near Notre-Dame-du-Laus, Québec. The Resource Estimate was prepared pursuant to Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”) by the independent firm SGS Canada Inc. (“SGS”) of Blainville, Quebec. The Maiden Resource Estimate consists of an inferred resource of 4.14 Mt with an average grade of 3.05% Cg, within the boundaries of an optimized open pit model. A Technical Report supporting the Resource Estimate will be filed to SEDAR within 45 days, as required by NI 43-101.

TABLE 1: GRAPHITE MINERAL RESOURCES

Cut-off Grade (%Cg)

Resource Category

Tonnage (Mt)

Average Grade (%Cg)

Contained Graphite (t)

1.00

Inferred

4.14

3.05

126,000

  • The classification of the current Mineral Resource Estimation into Inferred is consistent with current 2014 CIM Definition Standards – For Mineral Resources and Mineral Reserves

  • A fixed density of 2.80 t/m3 was used to estimate the tonnage from block model volumes.

  • Resources are constrained by the pit shell and the topography of the overburden layer.

  • The results from the pit optimization are used solely for the purpose of testing the “reasonable prospects for economic extraction” by an open pit and do not represent an attempt to estimate mineral reserves. There are no mineral reserves on the Property. The results are used as a guide to assist in the preparation of a Mineral Resource statement and to select an appropriate resource reporting cut-off grade.

  • Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resources has a lower level of confidence than that applying to a Measured and Indicated Resources and must not be converted to a Mineral Reserves. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.  

  • All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add due to rounding.

  • Effective date March 28th  2024.

  • The estimate of mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues.

  • The Company has thus far completed sufficient diamond drilling and bedrock channel sampling to result in a resource estimation with a maximal depth of the pit at 135 vertical meters. Geological modeling based on the drill results, surface trenching and mapping indicates that the deposit remains open at depth and on both strike extensions. The geological model also provides multiple exploration targets with the potential to further expand the graphite mineral resources. The portion of the Asbury Project which is the subject of the Resource Estimate occupies only about 7 % of the geophysical anomaly on the Asbury claim area held by the Company.

    Canada Carbon Chief Executive Officer, Mr. Ellerton Castor remarked, “The substantial resource identified by the targeted drill programs of 2022 and 2023 reveals a promising scope for extensive mineralization across the claim area. The initial resource model will provide a robust foundation for all future exploration efforts on the Property. This MRE demonstrates the significant exploration upside available at Asbury. We have always believed that the Asbury Project has the potential to be a large, scalable deposit with the capacity to provide a long-term, secure source of supply to a myriad of industries participating in the green energy economy. We will continue to prove that out, with future de-risking initiatives such as a bulk sample program and battery cell testing.”

    Mineral Resource Estimation Parameters

    The Mineral Resources were estimated by Yann Camus, P.Eng., of SGS with an effective date of March 28, 2024. This estimate is the first Mineral Resource Estimate on the Asbury property. The Mineral Resources were estimated using the following geological and resource block modeling parameters which are based on geological interpretations, geostatistical studies and best practices in mineral estimation:

    Graphite Mineral Resources

    • Mineral Resources were estimated from the diamond drill holes and channels analytical results completed by Canada Carbon in 2022 and 2023, along with two nearby 1988 drill holes. A total of 17 drill holes (11 from 2023, 4 from 2022, 2 from 1988) and 1 channel were used for the MRE, comprising 1,309 assay intervals. The complete database consists of 101 drill holes (including 13 from 2023 and 6 from 2022) and 14 channels/trenches (including 11 channels from 2022), comprising 2,158 assays.

    • The 3-D modeling of the graphite Mineral Resource was conducted using a minimum cut-off grade of 0.50 %Cg over a 5 m length. All modeling and estimations were done using SGS’s proprietary modeling software Genesis©.

    • Assay data was composited to about 2 m without leaving remainders.

    • The interpolation was conducted using inverse distance squared.

    • The block model was defined with a block size of 5 m long by 1 m wide by 2 m thick and covers a strike length of approximately 1050 m to a maximal depth of 175 m below surface. The modeled graphite mineralization is open both at depth and strike.

    • The Mineral Resources were constrained within the boundaries of an optimised pit shell using the parameters stated in Table 2 below. All parameters are derived from similar graphite projects. Any interpolated blocks of the resource model located outside of the optimised pit shell are not included in the Mineral Resources Estimate.

    • All dollar values in Table 2 are expressed in Canadian dollars, except for the revenue value for the thermally treated graphite, assumed to be US$ 40,000/tonne.

    TABLE 2: PARAMETERS USED TO MODEL OPTIMIZED GRAPHITE RESOURCES

    Parameters

    Value

    Unit

    Mining Cost – Mineralized Material

    5.00

    CDN$/t mined

    Mining Cost – Waste

    4.00

    CDN$/t mined

    Mining Dilution

    5

    %

    Mining Recovery

    95

    %

    Processing + G&A Costs

    13.65

    CDN$/t milled

    Metal Price

    2,500.00

    CDN$/tonne

    Concentration Recovery

    90

    %

    Pit Slopes

    50

    degrees

    Density of Mineralized Material

    2.80

    t/m3

    Density of Waste

    2.80

    t/m3

    Asbury Project Overview

    The 100%-owned Asbury Graphite Project is a past producing property made up of 25 claims with a total surface area of 1,384.59 ha. It is located 8.1 km northeast of Notre-Dame-Du-Laus in the Laurentides Region of southern Quebec. The property is accessible via gravel roads from Provincial Road 309 and Chemin du Ruisseau Serpent in the Notre-Dame-du-Laus area. A power transmission line runs through the property. Mont-Laurier, located approximately 44 km north, provides all amenities needed to perform basic mineral exploration, such as a hospital, accommodations, restaurants, groceries and other primary services. Additional amenities for exploration, and a seasoned mining and exploration workforce, are available from nearby towns of Gatineau to the south.

    Qualified Person

    Mr. Yann Camus, P.Eng., from SGS Geological Services, an independent Qualified Person as defined by National Instrument 43-101 guidelines and has reviewed and approved the technical related content of this news release.

    CANADA CARBON INC. “Ellerton Castor”Chief Executive Officer and Director Contact Information E-mail inquiries: info@canadacarbon.com P: (905) 407-1212

    FORWARD LOOKING INFORMATION This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking information in this press release includes statements regarding the development of the Company’s Miller deposit and financing thereof, the entering of the joint venture with Irondequoit Offering, future production from the Company’s Miller deposit, sales agreements and other matters related thereto. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; financial abilities; the ability to develop the Miller deposit; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; the impact of COVID-19; and general business, economic, competitive, political, and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    VANCOUVER, BC / ACCESSWIRE / March 28, 2024 / Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the "Company" or "Stillwater") is pleased to announce that is has commenced a non-brokered private placement offering of up to 17,857,143 units of the Company, at a price of $0.14 per unit, for gross proceeds of up to approximately $2.5 million (the "Placement").

    Glencore Canada Corporation ("Glencore"), a wholly-owned subsidiary of Glencore plc, has agreed to purchase 15 million units of Stillwater pursuant to the Placement, for gross proceeds of $2.1 million.

    Each unit under the Placement is comprised of one common share and one half of one common share purchase warrant, with each full warrant entitling the holder to purchase one common share at an exercise price of $0.21, providing up to approximately $1.875 million additional funding, if exercised in full. The warrants shall be exercisable for three years from the date of issue.

    Stillwater President and CEO, Michael Rowley, stated, "We are pleased to have Glencore's continued support through their participation in this placement as we advance our flagship Stillwater West project as a large-scale source of nine metals that are now listed as critical in the USA. With the largest nickel resource in an active US mining district, and high co-product values of copper, cobalt, palladium, platinum, rhodium and gold, we are uniquely positioned to play a key role in the US government's stated objective of building domestic supply chains of these essential commodities."

    Net proceeds of the Placement are intended to be used for exploration and development activities at the Company's North American nickel projects, as well as for working capital.

    The Placement is expected to close, subject to customary conditions, upon acceptance by the TSX Venture Exchange. All securities issued pursuant to the Placement will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.

    The Company expects that certain insiders of the Company may subscribe for units under the Placement, however, the exact value of such subscriptions has not yet been determined. The issuances of any units to insiders will be considered related party transactions within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority approval requirements in MI 61-101 in respect of any such insider participation, as neither the fair market value of the securities to be issued, nor the fair market value of the consideration for the securities to be issued, insofar as it involves such insiders, will exceed 25% of the Company's market capitalization as calculated in accordance with MI 61-101.This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Stillwater Critical Minerals have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

    Upcoming Events

    Stillwater Critical Minerals confirms that Michael Rowley, President and CEO, will be attending the Energy Transition Metals Summit in Washington, D.C. April 29-30, 2024. For more information, click here.

    About Stillwater Critical Minerals Corp.

    Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West with the largest nickel resource in an active US mining district as part of a compelling suite of nine minerals now listed as critical in the USA. To date, five Platreef-style nickel and copper sulphide deposits host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold at Stillwater West, and all deposits remain open for expansion along trend and at depth. Results are pending from resource expansion drilling completed in fall 2023.

    Stillwater also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals' development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

    FOR FURTHER INFORMATION, PLEASE CONTACT:

    Michael Rowley, President, CEO & Director

    Email: info@criticalminerals.com

    Phone: (604) 357 4790

    Web: http://criticalminerals.com

    Toll Free: (888) 432 0075

    Forward-Looking Statements

    This news release includes certain statements that may be deemed "forward-looking statements" or "forward-looking information" in accordance with applicable securities laws. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, potential exploration results, the timing and success of exploration activities generally, and expectations regarding the completion of the Placement, are forward-looking statements that involve various risks and uncertainties. Although Stillwater believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals or satisfaction of other conditions to closing of the Placement, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.

    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: Stillwater Critical Minerals

    View the original press release on accesswire.com

    VANCOUVER, BC, March 18, 2024 /CNW/ – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ("Eastplats" or the "Company") provides this default announcement indicating Eastplats' potential delay in filing its annual financial statements for the year ended December 31, 2023 and related management discussion and analysis and certifications (collectively, the "Financial Statements"), the annual information form for the fiscal year ended December 31, 2023, and the CEO and CFO certificates relating to the Financial Statements (the "Required Filings") beyond the prescribed filing deadlines.

    The Company's potential delay in filing its Required Filings on time is due to the following circumstances:

    • On or about April 24, 2023, the Company received unproven whistleblower allegations, including allegations of undisclosed related party transactions pertaining to the sale of chrome concentrate at discounted prices (the "Allegations"). The board of directors of the Company (the "Board") determined that it was in the best interests of the Company to form a special committee (the "Committee") consisting of two independent directors, George Graham Dorin and Xin (Alex) Guan, responsible for conducting an investigation, review and analysis of the Allegations. On or about December 11, 2023, the Committee completed its investigation. With assistance from independent counsel engaged and a third-party e-discovery specialist to assist with the investigation, the Committee found the Allegations advanced by the whistleblowers to be unsubstantiated. As a result, the auditors did not accept an audit continuance engagement by the Company until such investigation was complete and its conclusions announced. Since December 2023, the Company's management, together with its audit committee, has cooperated with its auditors to complete the Required Filings as soon as possible.

    Considering the foregoing factors, the present circumstances warrant the imposition of a management cease trade order ("Management CTO"), rather than a cease trade order ("CTO"), as contemplated under National Policy 12-203 – Cease Trade Order Orders for Continuous Disclosure Defaults ("NP 12-203"). The Company has applied for a Management CTO, however there is no assurance that it will be granted.

    Eastplats' Required Filings are required to be filed within two months of the prescribed filing deadline of April 2, 2024. Eastplats' failure to file such within this two-month period may result in the securities commissions or regulators imposing an Issuer Cease Trade Order.

    The Company proposes to remedy the default by diligently working with its auditor to ensure the filing of its Required Filings as soon as possible. Eastplats expects to be in a position to issue and file the Required Filings by no later than April 30, 2024.

    Eastplats therefore fully expects to file its Required Filings prior to the end of the additional one month period as prescribed by NP 12-203. Further, Eastplats has confirmed that it intends to satisfy the provisions of the alternative information guidelines described in sections 9 and 10 of NP 12-203 for so long as it remains in default for failure to file the Required Filings.  Should Eastplats fail to file the appropriate Default Status Reports as prescribed by NP 12-203, the securities commissions or regulators may, as a result of such failure, impose an Issuer Cease Trade Order.

    The Company confirms that it is not subject to any insolvency proceeding as of the date hereof. Eastplats also confirms that there is no other material information concerning the affairs of Eastplats that have not been generally disclosed as of the date herein.

    SOURCE Eastern Platinum Ltd.

    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/18/c2533.html

    Highlights include 58.3m at 3.88g/t PGM+Au, 0.12% Ni including 15m at 6.41g/t PGM+Au, 0.11% Ni,and 45.7m at 3.60g/t PGM+Au, 0.08% Ni including 13.7m at 8.47g/t PGM+Au, 0.13% Ni

    VANCOUVER, BC, March 13, 2024 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") announced that it has received assay results from eight diamond drill holes ("DDH"), five from the North Sector and three from the Southwest Sector at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project ("Luanga" or "Luanga PGM+Au+Ni Project"), located in the Carajás Mineral Province, state of Pará, Brazil.

    "Drilling in the North Sector continues to be encouraging, with wider and higher-grade PGM+Au+Ni mineralization at shallow depths. DDH24LU235 is now the best drill hole intercept to date at Luanga and starts at only 10.5m from surface. In comparison, the Central Sector, which currently contains the largest proportion of Mineral Resource Estimate ("MRE") tonnage at Luanga, has been extended to depths in excess of 400m, suggesting considerable room for further extensions to depth in the North Sector," said Luis Azevedo, Chairman and CEO of Bravo. "We also continue to see some evidence of copper sulphide mineralization at depth in the North, as seen in drill hole DDH24LU235, suggesting potential for different styles of mineralization at Luanga."

    Highlights Include:

    • Drilling in the North Sector continues to improve in grade and thickness compared to previously reported drilling and/or drilling on adjacent drill sections as seen in DDH24LU235 on Section 1:

      • 58.3m at 3.88g/t PGM+Au, 0.12% Ni including 15m at 6.41g/t PGM+Au, 0.11% Ni

      • 45.7m at 3.60g/t PGM+Au, 0.08% Ni including 13.7m at 8.47g/t PGM+Au, 0.13% Ni

    • Shallow mineralization in the North Sector (Sections 1 and 2) is currently being defined at depths of +/-100m and remains open down dip.

    • The North Sector has significant potential below 100m from surface, given that the Central Sector extends to depths of more than 400m, which also supports a significant opportunity for MRE growth at shallower depths.

    • Bore-hole Electromagnetic ("EM") survey team working in parallel with exploration drilling over the priority HeliTEM (airborne electromagnetics) targets, with multiple off-hole conductors ready to be modelled.

    HOLE-ID

    From

    To

    Thickness (m)

    Pd

    Pt

    Rh

    Au

    PGM + Au

    Ni* (%) Sulphide

    Cu (%) Sulphide

    TYPE

    (m)

    (m)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    DDH23LU222

    41.80

    43.32

    1.52

    0.02

    <0.01

    <0.01

    <0.01

    0.02

    0.88

    FR

    DDH24LU233

    46.50

    56.80

    10.30

    1.30

    0.78

    0.18

    0.02

    2.28

    0.13

    FR

    DDH24LU234

    54.40

    92.40

    38.00

    0.98

    0.63

    0.12

    0.06

    1.79

    0.06

    FR

    DDH24LU235

    10.50

    20.50

    10.00

    2.32

    0.86

    0.14

    0.04

    3.36

    NA

    Ox

    And

    21.50

    79.80

    58.30

    2.18

    1.41

    0.25

    0.04

    3.88

    0.12

    FR

    Including

    49.80

    64.80

    15.00

    3.74

    2.23

    0.37

    0.07

    6.41

    0.11

    FR

    And

    93.80

    139.50

    45.70

    2.10

    1.20

    0.26

    0.05

    3.60

    0.08

    FR

    Including

    102.85

    116.50

    13.65

    5.13

    2.67

    0.56

    0.11

    8.47

    0.13

    FR

    And

    236.30

    239.30

    3.00

    0.00

    0.00

    0.00

    0.03

    0.04

    0.01

    1.01

    FR

    Notes: 

    All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.

    Given orientation of drilling and mineralization, intercepts are estimated at 125% to 140% of true thickness.

    Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

    * Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays.

    Luanga Drilling Update

    Results from eight diamond drill holes have been received from the North and Southwest Sectors. All the drill holes herein reported are angled holes (-60 degrees), towards a 090° azimuth in the North and 360° azimuth in the Southwest. Together, this set of drill holes comprise a total of 1,865 metres of diamond drilling.

    Section 1 (Figure 1) in the North Sector shows a new infill drill section with DDH24LU235 being the deepest drill hole on the section, clearly showing significantly better mineralization at depth, both in thickness and grade, in all three distinct zones of mineralization. Two of the mineralised zones now contain significant high-grade portions within the broader mineralised zones. This high-grade mineralization is still only defined to approximately 120m below surface, with additional drilling now planned to test for potential extension at depth. Results bode well for future MRE growth.

    • 58.3m at 3.88g/t PGM+Au, 0.12% Ni, including 15m at 6.41g/t PGM+Au, 0.11% Ni

    • 45.7m at 3.60g/t PGM+Au, 0.08% Ni, including 13.7m at 8.47g/t PGM+Au, 0.13% Ni

    Figure 1: North Sector (Section 1 on Figure 3). PGM+Au mineralization significantly wider and higher-grade at depth. (CNW Group/Bravo Mining Corp.)

    Section 2 (Figure 2) in the North Sector also shows evidence of increasing widths and grades at shallow depths, with mineralization still open at depth. DDH24LU234 (38.0m at 1.79g/t PGM+Au, 0.06% Ni) is a significant improvement over the up-dip intercept in DDH24LU232 (9.8m at 0.86g/t PGM+Au) and, as with Section 1, these results also bode well for future MRE growth, with significant potential open at depth.

    Figure 2: North Sector (Section 2 on Figure 3). Widths and grades improve significantly as mineralization transitions to fresh rock. (CNW Group/Bravo Mining Corp.)

    Drill Results Status Update

    A total of 269 drill holes have been completed by Bravo to date, for 57,648.45 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 235 Bravo drill holes to date. Assay results for 26 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).

    Complete Table of Recent Intercepts.

    HOLE-ID

    From

    To

    Thickness(m)

    Pd

    Pt

    Rh

    Au

    PGM + Au

    Ni* (%) Sulphide

    Cu (%)Sulphide

    TYPE

    (m)

    (m)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    DDH23LU220

    No significant results

    DDH23LU222

    41.80

    43.32

    1.52

    0.02

    <0.01

    <0.01

    <0.01

    0.02

    0.88

    FR

    And

    226.00

    238.00

    12.00

    0.79

    0.31

    0.05

    0.02

    1.16

    0.13

    FR

    DDH23LU225

    212.35

    221.35

    9.00

    0.62

    0.24

    0.03

    0.01

    0.91

    0.07

    FR

    DDH23LU231

    9.00

    44.90

    35.90

    0.65

    0.32

    0.05

    0.02

    1.03

    NA

    Ox

    And

    53.75

    60.00

    6.25

    0.76

    0.38

    0.07

    0.07

    1.27

    0.25

    FR

    And

    65.00

    76.00

    11.00

    0.67

    0.39

    0.07

    0.01

    1.13

    0.17

    FR

    DDH23LU232

    0.00

    3.00

    3.00

    0.59

    0.29

    0.05

    0.01

    0.93

    NA

    Ox

    And

    8.00

    11.00

    3.00

    0.54

    0.26

    0.04

    0.02

    0.86

    NA

    Ox

    And

    24.05

    31.80

    9.75

    0.53

    0.27

    0.04

    0.02

    0.86

    0.13

    FR

    And

    92.80

    118.80

    26.00

    0.83

    0.39

    0.07

    0.10

    1.39

    0.13

    FR

    DDH24LU233

    0.00

    15.90

    15.90

    0.79

    0.34

    0.06

    0.02

    1.21

    NA

    Ox

    And

    27.90

    38.90

    11.00

    0.82

    0.29

    0.07

    0.02

    1.19

    0.03

    FR

    And

    46.50

    56.80

    10.30

    1.30

    0.78

    0.18

    0.02

    2.28

    0.13

    FR

    And

    91.80

    109.40

    17.60

    0.39

    0.15

    0.02

    0.02

    0.58

    0.17

    FR

    And

    168.75

    171.90

    3.15

    0.65

    0.28

    0.05

    0.04

    1.02

    0.09

    FR

    DDH24LU234

    0.00

    5.20

    5.20

    0.77

    0.24

    0.04

    0.03

    1.08

    NA

    Ox

    And

    54.40

    92.40

    38.00

    0.98

    0.63

    0.12

    0.06

    1.79

    0.06

    FR

    DDH24LU235

    10.50

    20.50

    10.00

    2.32

    0.86

    0.14

    0.04

    3.36

    NA

    Ox

    And

    21.50

    79.80

    58.30

    2.18

    1.41

    0.25

    0.04

    3.88

    0.12

    FR

    Including

    49.80

    64.80

    15.00

    3.74

    2.23

    0.37

    0.07

    6.41

    0.11

    FR

    And

    93.80

    139.50

    45.70

    2.10

    1.20

    0.26

    0.05

    3.60

    0.08

    FR

    Including

    102.85

    116.50

    13.65

    5.13

    2.67

    0.56

    0.11

    8.47

    0.13

    FR

    And

    149.10

    191.20

    42.10

    0.53

    0.22

    0.03

    0.04

    0.82

    0.04

    FR

    And

    236.30

    239.30

    3.00

    0.00

    0.00

    0.00

    0.03

    0.04

    0.01

    1.01

    FR

    Notes: 

    All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.

    Given orientation of drilling and mineralization, intercepts are estimated at 125% to 140% of true thickness.

    Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

    * Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays

    Figure 3: Location of Bravo Drilling and Sections Reported in this News Release (CNW Group/Bravo Mining Corp.)

    About Bravo Mining Corp.

    Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.

    The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo's current Environmental, Social and Governance activities includes planting more than 18,000 high-value trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

    Technical Disclosure

    Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.

    Forward Looking Statements

    This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "best", "better", "encouraging", "wider", "higher-grade", "considerable", "extension", "potential", "significant", "opportunity", "priority", "bodes well", variants of these words and other similar words, phrases, or statements that certain events or conditions "may" or "will" occur. This news release contains forward-looking information pertaining to the Company's ongoing drill program and the results thereof; comparisons to historical and prior Bravo drilling; the potential for extensions to mineralization at depth; the potential for greater thicknesses and/or higher grades at depth and the implications of higher copper grades in certain areas; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, 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, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that PGM and/or Ni grades and mineralized thicknesses are improving to depth; that final drill and assay results will be in line with management's expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

    Schedule 1: Drill Hole Collar Details

    HOLE-ID

    Company

    East (m)

    North (m)

    RL (m)

    Datum

    Depth (m)

    Azimuth

    Dip

    Sector

    DDH23LU220

    Bravo

    657800.01

    9339871.28

    221.471

    SIRGAS2000_UTM_22S

    200.05

    360.00

    -60.00

    Southwest

    DDH23LU222

    Bravo

    657000.42

    9339411.47

    243.035

    SIRGAS2000_UTM_22S

    340.35

    360.00

    -60.00

    Southwest

    DDH23LU225

    Bravo

    656849.98

    9339305.59

    232.687

    SIRGAS2000_UTM_22S

    356.60

    360.00

    -60.00

    Southwest

    DDH24LU231

    Bravo

    659505.03

    9343323.01

    259.557

    SIRGAS2000_UTM_22S

    150.65

    90.00

    -60.00

    North

    DDH24LU232

    Bravo

    659517.04

    9343422.99

    240.554

    SIRGAS2000_UTM_22S

    160.55

    90.00

    -60.00

    North

    DDH24LU233

    Bravo

    659457.20

    9343323.05

    260.188

    SIRGAS2000_UTM_22S

    223.20

    90.00

    -60.00

    North

    DDH24LU234

    Bravo

    659464.78

    9343422.96

    243.986

    SIRGAS2000_UTM_22S

    180.40

    90.00

    -60.00

    North

    DDH24LU235

    Bravo

    659401.00

    9343322.99

    254.545

    SIRGAS2000_UTM_22S

    253.60

    90.00

    -60.00

    North

    Schedule 2: Assay Methodologies and QAQC

    Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

    Quality Assurance and Quality Control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

    Bravo SGS Geosol

    Preparation

    Method

    Method

    Method

    Method

    For All Elements

    Pt, Pd, Au

    Rh

    Sulphide Ni, Cu

    Trace Elements

    PRPCLI (85% at 200#)

    FAI515

    FAI30V

    AA04B

    ICP40B

    Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)

    SOURCE Bravo Mining Corp.

    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/13/c8194.html

    If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So on that note, Eastern Platinum (TSE:ELR) looks quite promising in regards to its trends of return on capital.

    What Is Return On Capital Employed (ROCE)?

    If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Eastern Platinum, this is the formula:

    Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)

    0.12 = US$11m ÷ (US$158m – US$71m) (Based on the trailing twelve months to September 2023).

    So, Eastern Platinum has an ROCE of 12%. On its own, that's a standard return, however it's much better than the 1.8% generated by the Metals and Mining industry.

    See our latest analysis for Eastern Platinum

    roce

    While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you'd like to look at how Eastern Platinum has performed in the past in other metrics, you can view this free graph of Eastern Platinum's past earnings, revenue and cash flow.

    What Does the ROCE Trend For Eastern Platinum Tell Us?

    Like most people, we're pleased that Eastern Platinum is now generating some pretax earnings. The company was generating losses five years ago, but now it's turned around, earning 12% which is no doubt a relief for some early shareholders. Additionally, the business is utilizing 46% less capital than it was five years ago, and taken at face value, that can mean the company needs less funds at work to get a return. Eastern Platinum could be selling under-performing assets since the ROCE is improving.

    On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. The current liabilities has increased to 45% of total assets, so the business is now more funded by the likes of its suppliers or short-term creditors. And with current liabilities at those levels, that's pretty high.

    The Bottom Line

    From what we've seen above, Eastern Platinum has managed to increase it's returns on capital all the while reducing it's capital base. Given the stock has declined 49% in the last five years, this could be a good investment if the valuation and other metrics are also appealing. That being the case, research into the company's current valuation metrics and future prospects seems fitting.

    One more thing: We've identified 4 warning signs with Eastern Platinum (at least 1 which is concerning) , and understanding them would certainly be useful.

    For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Highlights include 29m at 2.40g/t PGM+Au, 0.10% Ni (including 3m at 1.41g/t Rhodium), and 22m at 1.82g/t PGM+Au, 0.14% Ni

    VANCOUVER, BC, Feb. 21, 2024 /CNW/ – Bravo Mining Corp. (TSX.V: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") announced that it has received assay results from seven diamond drill holes ("DDH") from the North Sector at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project ("Luanga" or "Luanga PGM+Au+Ni Project"), located in the Carajás Mineral Province, state of Pará, Brazil.

    "Results continue to extend PGM+Au+Ni mineralization at depth, now in the North Sector, with mineralization extending from ~100m to ~200m below surface, which is still relatively shallow when compared to the greater than 400m depths demonstrated in the Central Sector," said Luis Azevedo, Chairman and CEO of Bravo. "Again, assay grades and mineralized thicknesses typically  improve at depth, as can be seen in Figures 1 and 2. We also see early evidence of copper sulphides in greater concentration relative to nickel sulphides, as well as localized high-grade rhodium, in the North Sector."

    Highlights Include:

    • Drilling in the North Sector continues to improve in grade and thickness below the limits of the current Mineral Resource Estimate ("MRE"), for example:

      • DDH23LU224 on Section 1 (28.9m at 2.44g/t PGM+Au, 0.10% Ni) is significantly thicker and higher-grade compared to up dip hole DDH23LU202 (10.0m at 0.80g/t PGM+Au, 0.12% Ni).

      • DDH23LU219 on Section 2 (22.4m at 1.82g/t PGM+Au and 9.1m at 2.22g/t PGM+Au) is also a significant improvement over historic drill hole PPT-LUAN-FD0002 up dip (11.7m at 1.08g/t PGM+Au and 20.0m at 0.77g/t PGM+Au respectively).

    • The North Sector drilling is at an earlier stage as compared to the Central Sector, where mineralization has been extended to depths of more than 400m. The potential to define and extend existing mineralization below depths as shallow as 100m is now being demonstrated.

    • Results in the North Sector continue to support the potential for future growth in Luanga's MRE.

    • Narrow zones of copper sulphides and localized high-grade rhodium have also been intersected in the North Sector.

    • Bore-hole Electromagnetic ("EM") survey team working in parallel with exploration drilling.

    HOLE-ID

    From

    To

    Thickness(m)

    Pd

    Pt

    Rh

    Au

    PGM + Au

    Ni* (%) Sulphide

    TYPE

    (m)

    (m)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    DDH23LU216

    229.50

    230.50

    1.00

    0.53

    2.24

    1.13

    0.01

    3.92

    0.01

    FR

    DDH23LU219

    236.93

    259.30

    22.37

    1.16

    0.52

    0.10

    0.04

    1.82

    0.14

    FR

    And

    271.50

    280.65

    9.15

    1.48

    0.65

    0.08

    0.01

    2.22

    0.06

    FR

    DDH23LU221

    259.00

    264.00

    5.00

    3.27

    1.96

    0.26

    0.01

    5.50

    0.17

    FR

    And

    271.00

    275.00

    4.00

    0.92

    1.33

    0.19

    0.13

    2.58

    0.11

    FR

    DDH23LU224

    118.20

    147.15

    28.95

    1.02

    1.09

    0.27

    0.01

    2.40

    0.10

    FR

    Including

    124.20

    127.20

    3.00

    0.67

    1.28

    1.41

    0.01

    3.36

    0.03

    FR

    Notes:

    All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.

    Given orientation of drilling and mineralization, intercepts are estimated at 140% of true thickness.

      Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

    * Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays.

    Luanga Drilling Update

    Results from seven diamond drill holes have been received from the North Sector. All the drill holes herein reported are angled holes (60 degrees) towards a 090° azimuth. Together, this set of drill holes comprise a total of 2,204 metres of diamond drilling.

    Section 1 (Figure 1) in the North Sector shows DDH23LU224 which was drilled to test below DDH23LU202. PGM+Ni mineralization intersected in DDH23LU224 (28.9m at 2.44g/t PGM+Au, 0.10% Ni) is significantly thicker and higher-grade compared to the up-dip intersection in DDH23LU202 (10.0m at 0.80g/t PGM+Au, 0.12% Ni), and is less than 150m from surface. This bodes well for future growth in the MRE at relatively shallow depths. The zone of disseminated nickel sulphides in DDH23LU202 was not repeated in DDH23LU224; however, narrow zones of higher-grade nickel sulphide mineralization observed in DDH23LU224 are now associated with increasing levels of copper mineralization at depth.

    Figure 1: North Sector (Section 1 on Figure 3). PGM+Au mineralization significantly wider and higher-grade at depth. (CNW Group/Bravo Mining Corp.)

    Section 2 (Figure 2), in the North Sector, also shows evidence of increasing widths and grades at relatively shallow depths. DDH23LU219 (22.4m at 1.82g/t PGM+Au and 9.1m at 2.22g/t PGM+Au) is also a significant improvement over the up-dip intercept in historic drill hole PPT-LUAN-FD0002 (11.7m at 1.08g/t PGM+Au and 20.0m at 0.77g/t PGM+Au respectively) and, as with Section 1, these results bode well for future MRE growth at relatively shallow depths.

    Figure 2: North Sector (Section 2 on Figure 3). Deeper drilling at North Sector, showing increasing widths and grades. (CNW Group/Bravo Mining Corp.)

    Drill Results Status Update

    A total of 260 drill holes have been completed by Bravo to date, for 56,147.80 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 227 Bravo drill holes to date. Assay results for 25 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).

    Drilling of priority HeliTEM (airborne electromagnetics) targets is now accompanied by a borehole EM survey team, on site at Luanga, progressing in parallel with drilling.

    Complete Table of Recent Intercepts.

    HOLE-ID

    From

    To

    Thickness (m)

    Pd

    Pt

    Rh

    Au

    PGM + Au

    Ni* (%) Sulphide

    Cu (%) Sulphide

    TYPE

    (m)

    (m)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    DDH23LU214

    187.60

    188.60

    1.00

    0.01

    <0.01

    <0.01

    <0.01

    0.01

    0.89

    FR

    DDH23LU216

    229.50

    230.50

    1.00

    0.53

    2.24

    1.13

    0.01

    3.92

    0.01

    FR

    DDH23LU218

    43.90

    58.90

    15.00

    0.13

    0.47

    0.07

    0.01

    0.68

    NA

    FR

    And

    273.35

    277.25

    3.90

    0.27

    0.09

    0.04

    0.01

    0.41

    0.34

    FR

    And

    293.65

    295.65

    2.00

    0.39

    0.13

    0.02

    0.01

    0.55

    0.44

    FR

    And

    310.80

    313.80

    3.00

    0.23

    0.07

    0.01

    <0.01

    0.31

    0.32

    FR

    DDH23LU219

    197.75

    218.70

    20.95

    0.33

    0.56

    0.02

    0.01

    0.93

    0.03

    FR

    And

    236.93

    259.30

    22.37

    1.16

    0.52

    0.10

    0.04

    1.82

    0.14

    FR

    And

    271.50

    280.65

    9.15

    1.48

    0.65

    0.08

    0.01

    2.22

    0.06

    FR

    DDH23LU221

    259.00

    264.00

    5.00

    3.27

    1.96

    0.26

    0.01

    5.50

    0.17

    FR

    And

    271.00

    275.00

    4.00

    0.92

    1.33

    0.19

    0.13

    2.58

    0.11

    FR

    And

    279.00

    300.00

    21.00

    0.07

    0.06

    0.01

    0.01

    0.14

    0.27

    FR

    DDH23LU224

    0.00

    6.34

    6.34

    0.17

    0.50

    0.07

    <0.01

    0.75

    NA

    NA

    Ox

    And

    118.20

    147.15

    28.95

    1.02

    1.09

    0.27

    0.01

    2.40

    0.10

    0.02

    FR

    Including

    124.20

    127.20

    3.00

    0.67

    1.28

    1.41

    0.01

    3.36

    0.03

    0.01

    FR

    And

    153.90

    155.90

    2.00

    0.26

    0.31

    0.04

    0.20

    0.81

    0.21

    0.51

    FR

    And

    223.90

    228.90

    5.00

    0.36

    0.21

    <0.01

    0.14

    0.70

    0.18

    0.74

    FR

    And

    275.15

    277.15

    2.00

    0.67

    0.26

    <0.01

    0.04

    0.98

    0.12

    0.13

    FR

    DDH23LU226

    No significant results

    Notes:

    All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.

    Given orientation of drilling and mineralization, intercepts are estimated at 140% of true thickness.

    Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

    * Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays

    Figure 3: Location of Bravo Drilling and Sections Reported in this News Release (CNW Group/Bravo Mining Corp.)

    About Bravo Mining Corp.

    Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.

    The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo's current Environmental, Social and Governance activities includes planting more than 18,000 high-value trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

    Technical Disclosure

    Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.

    Forward Looking Statements

    This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "wider", "high-grade", "improve", "growth", "extend", "greater", "extended", "increasing", "potential", "significant", "indicative", "continue", "bodes well", variants of these words and other similar words, phrases, or statements that certain events or conditions "may" or "will" occur. This news release contains forward-looking information pertaining to the Company's ongoing drill program and the results thereof; comparisons to historical and prior Bravo drilling; the potential for extensions to mineralization at depth; the potential for greater thicknesses and/or higher grades at depth; the implications of higher copper grades in certain areas and the importance of locally high rhodium grades in the North Sector; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, 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, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that PGM and/or Ni grades and mineralized thicknesses are improving to depth; that final drill and assay results will be in line with management's expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

    Schedule 1: Drill Hole Collar Details

    HOLE-ID

    Company

    East (m)

    North (m)

    RL (m)

    Datum

    Depth (m)

    Azimuth

    Dip

    Sector

    DDH23LU214

    Bravo

    659230.64

    9343275.01

    218.241

    SIRGAS2000_UTM_22S

    275.05

    90.00

    -60.00

    North

    DDH23LU216

    Bravo

    659663.76

    9342656.37

    267.133

    SIRGAS2000_UTM_22S

    301.80

    90.00

    -60.00

    North

    DDH23LU218

    Bravo

    659726.12

    9342474.99

    262.304

    SIRGAS2000_UTM_22S

    358.70

    90.00

    -60.00

    North

    DDH23LU219

    Bravo

    659244.09

    9342922.21

    224.865

    SIRGAS2000_UTM_22S

    300.20

    90.00

    -60.00

    North

    DDH23LU221

    Bravo

    659900.38

    9342124.99

    249.794

    SIRGAS2000_UTM_22S

    367.80

    90.00

    -60.00

    North

    DDH23LU224

    Bravo

    659755.41

    9342616.02

    270.122

    SIRGAS2000_UTM_22S

    350.60

    90.00

    -60.00

    North

    DDH23LU226

    Bravo

    659242.68

    9343373.55

    220.017

    SIRGAS2000_UTM_22S

    250.15

    90.00

    -60.00

    North

    Schedule 2: Assay Methodologies and QAQC

    Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

    Quality Assurance and Quality Control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

    Bravo SGS Geosol

    Preparation

    Method

    Method

    Method

    Method

    For All Elements

    Pt, Pd, Au

    Rh

    Sulphide Ni, Cu

    Trace Elements

    PRPCLI (85% at 200#)

    FAI515

    FAI30V

    AA04B

    ICP40B

    Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)

    SOURCE Bravo Mining Corp.

    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/21/c9376.html

    Highlights include 42m at 2.97g/t PGM+Au, 0.30% Ni including 26m at 4.31g/t PGM+Au, 0.38% Ni, 37m at 2.04g/t PGM+Au, 0.26% Ni, and 27m at 1.80g/t PGM+Au, 0.20% Ni

    VANCOUVER, BC, Feb. 13, 2024 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") announced that it has received assay results from nine diamond drill holes ("DDH") from the Central Sector of its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project ("Luanga" or "Luanga PGM+Au+Ni Project"), located in the Carajás Mineral Province, state of Pará, Brazil.

    "The Phase 2 drill program has been completed as planned, with Phase 3 now well underway. Results continue to extend PGM+Au+Ni mineralization at depth, as far as ~400m below surface in the Central Sector or approximately double the typical depth of Bravo's maiden mineral resource estimate," said Luis Azevedo, Chairman and CEO of Bravo. "Furthermore, assay grades and mineralized thicknesses typically continue to improve at depth, as can be seen in Figure 2, indicating potential for significant resource growth."

    Highlights Include:

    • Drilling in the Central Sector, such as DDH23LU223 (42m at 2.97g/t PGM+Au, 0.30% Ni including 26m at 4.31g/t PGM+Au, 0.38% Ni), extend known mineralization to approximately 400m below surface.

    • Results support the potential for future growth in Luanga's Mineral Resource Estimate ("MRE").

    • Additional drill results from the North Sector are pending.

    • Trenching of near surface mineralization and testing of geophysical anomalies is underway.

    HOLE-ID

    From

    To

    Thickness (m)

    Pd

    Pt

    Rh

    Au

    PGM + Au

    Ni* (%) Sulphide

    TYPE

    (m)

    (m)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    DDH23LU211

    263.05

    290.30

    27.25

    1.23

    0.40

    0.14

    0.03

    1.80

    0.20

    FR

    Including

    278.83

    285.30

    6.47

    2.30

    0.90

    0.39

    0.04

    3.63

    0.18

    FR

    DDH23LU223

    447.80

    489.10

    42.10

    2.08

    0.68

    0.13

    0.08

    2.97

    0.30

    FR

    Including

    463.90

    487.90

    26.00

    3.03

    0.99

    0.19

    0.10

    4.31

    0.38

    FR

    And

    611.30

    611.80

    0.50

    1.19

    4.46

    1.55

    0.03

    7.23

    0.02

    LS/FR

    DDH23LU227

    145.55

    182.80

    37.25

    1.45

    0.45

    0.07

    0.06

    2.04

    0.26

    FR

    DDH23LU228

    45.10

    81.10

    36.00

    0.98

    0.36

    0.05

    0.06

    1.43

    0.22

    FR

    Including

    63.10

    81.10

    18.00

    1.48

    0.53

    0.07

    0.07

    2.15

    0.26

    FR

    DDH23LU230

    33.80

    69.00

    35.20

    0.97

    0.50

    0.09

    0.08

    1.59

    0.14

    FR

    Including

    64.00

    69.00

    5.00

    2.40

    1.87

    0.09

    0.29

    4.65

    0.12

    FR

    Notes:   

    All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.

    Given orientation of drilling and mineralization, intercepts are estimated at 105-130% of true thickness.

    Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

    * Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays.

    Luanga Drilling Update

    Results from nine diamond drill holes have been received from the Central Sector. All the drill holes herein reported are angled holes (60 to 65 degrees) towards a 330° direction. Together, this set of drill holes comprise a total of 3,001 metres of diamond drilling.

    Section 1 (Figure 1) in the Central Sector shows DDH23LU223 (42m at 2.97g/t PGM+Au, 0.30% Ni including 26m at 4.31g/t PGM+Au, 0.38% Ni), which lies down dip from previously reported DDH23LU204 (49m at 3.12g/t PGM+Au, 0.33% Ni), extending known mineralization to approximately 400m below surface, or approximately double the typical depth extent of the maiden MRE announced October 22, 2023.

    Figure 1: Central Sector (Section 1 on Figure 4) – Mineralization defined to approximately 400m below surface. (CNW Group/Bravo Mining Corp.)

    Section 2 (Figure 2) shows DDH23LU211 (27m at 1.80g/t PGM+Au, 0.20% Ni), drilled at the northern extent of the Central Sector to testing the potential for higher-grade zones at depth, as observed in nearby sections. Drill hole DDH23LU211 not only intersects significantly higher grade than DDH23LU117 approximately 100m above (up dip), but over a much greater width, with the added presence of nickel sulphides. Again, this bodes well for the further definition of high-grade zones and for future MRE growth.

    Figure 2: Central Sector (Section 2 on Figure 4) – Mineralized widths and grades improving at depth. (CNW Group/Bravo Mining Corp.)

    Section 3 (Figure 3) shows DDH23LU215 (30m at 1.73g/t PGM+Au, 0.25% Ni), drilled on the next section north of Section 1 (Figure 1) in the Central Sector. DDH23LU215 defines the continuation of mineralization a further 100m down dip, also now reaching approximately 400m below surface, further supporting the potential for future MRE growth in the Central Sector.

    Figure 3: Central Sector (Section 3 on Figure 4). Mineralization defined to approximately 400m below surface. (CNW Group/Bravo Mining Corp.)

    Drill Results Status Update

    A total of 257 drill holes have been completed by Bravo to date, for 55,683.25 metres, including 8 metallurgical holes (not subject to routine assaying).

    Results have been reported for 220 Bravo drill holes to date. Assay Results for 29 completed Bravo drill holes are currently outstanding (excluding the metallurgical holes).

    Complete Table of Recent Intercepts.

    HOLE-ID

    From

    To

    Thickness (m)

    Pd

    Pt

    Rh

    Au

    PGM + Au

    Ni* (%) Sulphide

    TYPE

    (m)

    (m)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    (g/t)

    DDH23LU200

    500.85

    515.60

    14.75

    0.73

    0.22

    0.03

    0.03

    1.01

    0.06

    FR

    DDH23LU211

    0.00

    2.00

    2.00

    0.37

    0.43

    0.07

    0.02

    0.89

    NA

    Ox

    And

    109.40

    110.40

    1.00

    <0.01

    0.01

    <0.01

    13.20

    13.22

    0.02

    FR

    And

    263.05

    290.30

    27.25

    1.23

    0.40

    0.14

    0.03

    1.80

    0.20

    FR

    Including

    268.05

    275.05

    7.00

    1.08

    0.23

    0.05

    0.02

    1.39

    0.30

    FR

    Also Including

    278.83

    285.30

    6.47

    2.30

    0.90

    0.39

    0.04

    3.63

    0.18

    FR

    DDH23LU213

    275.20

    278.20

    3.00

    2.23

    1.11

    0.36

    0.09

    3.79

    0.04

    FR

    DDH23LU217

    316.80

    324.80

    8.00

    0.44

    0.42

    0.10

    0.01

    0.97

    0.10

    FR

    DDH23LU223

    368.50

    371.50

    3.00

    0.64

    0.20

    <0.01

    0.08

    0.93

    0.22

    FR

    And

    447.80

    489.10

    42.10

    2.08

    0.68

    0.13

    0.08

    2.97

    0.30

    FR

    Including

    463.90

    487.90

    26.00

    3.03

    0.99

    0.19

    0.10

    4.31

    0.38

    FR

    And

    534.90

    553.90

    19.00

    0.35

    0.24

    <0.01

    0.04

    0.63

    0.03

    FR

    And

    611.30

    611.80

    0.50

    1.19

    4.46

    1.55

    0.03

    7.23

    0.02

    LS/FR

    DDH23LU227

    69.45

    71.40

    1.95

    0.10

    0.05

    <0.01

    1.41

    1.55

    0.12

    FR

    And

    145.55

    182.80

    37.25

    1.45

    0.45

    0.07

    0.06

    2.04

    0.26

    FR

    And

    182.80

    218.80

    36.00

    0.24

    0.23

    <0.01

    0.03

    0.50

    0.01

    FR

    DDH23LU228

    0.00

    4.20

    4.20

    0.31

    0.14

    0.33

    0.05

    0.82

    NA

    Ox

    And

    22.63

    41.10

    18.47

    0.54

    0.21

    0.03

    0.13

    0.90

    0.16

    FR

    And

    45.10

    81.10

    36.00

    0.98

    0.36

    0.05

    0.06

    1.43

    0.22

    FR

    Including

    63.10

    81.10

    18.00

    1.48

    0.53

    0.07

    0.07

    2.15

    0.26

    FR

    And

    111.10

    143.30

    32.20

    0.27

    0.25

    <0.01

    0.05

    0.57

    0.02

    FR

    DDH23LU229

    0.00

    29.90

    29.90

    0.36

    0.34

    0.01

    0.01

    0.72

    NA

    Ox

    And

    53.45

    56.20

    2.75

    0.18

    0.61

    0.23

    0.01

    1.04

    0.01

    LS/FR

    DDH23LU230

    14.34

    20.35

    6.01

    0.52

    0.21

    0.04

    0.02

    0.80

    NA

    Ox

    And

    33.80

    69.00

    35.20

    0.97

    0.50

    0.09

    0.08

    1.59

    0.14

    FR

    Including

    64.00

    69.00

    5.00

    2.40

    1.87

    0.09

    0.29

    4.65

    0.12

    FR

    Notes: 

    All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.

    Given orientation of drilling and mineralization, intercepts are estimated at 105-130% of true thickness.

    Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

    * Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays

    Figure 4: Location of Bravo Drilling and Sections Reported in this News Release (CNW Group/Bravo Mining Corp.)

    About Bravo Mining Corp.

    Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.

    The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo's current Environmental, Social and Governance activities includes replanting high-value trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

    Technical Disclosure

    Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.

    For further information about Bravo, please visit www.bravomining.com

    Forward Looking Statements

    This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "indicating", "potential", "significant", "indicative", "continue", "bodes well", variants of these words and other similar words, phrases, or statements that certain events or conditions "may" or "will" occur. This news release contains forward-looking information pertaining to the Company's ongoing drill program and the results thereof; comparisons to historical and prior Bravo drilling; the potential for extensions to mineralization at depth; the potential for greater thicknesses and/or higher grades at depth; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, 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, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that Ni grades are improving to depth; that a zone of higher grade mineralization may be present in the Central Sector; that the presence of magmatic Ni sulphides may be indicative of zones of potential economic interest; that the geophysical anomalies identified are related to mineralization of potential economic interest; that final drill and assay results will be in line with management's expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

    Schedule 1: Drill Hole Collar Details

    HOLE-ID

    Company

    East (m)

    North (m)

    RL (m)

    Datum

    Depth (m)

    Azimuth

    Dip

    Sector

    DDH23LU200

    Bravo

    658370.94

    9340243.96

    252.332

    SIRGAS2000_UTM_22S

    585.00

    330.00

    -60.00

    Central

    DDH23LU211

    Bravo

    659920.87

    9341462.81

    193.544

    SIRGAS2000_UTM_22S

    350.00

    330.00

    -65.00

    Central

    DDH23LU213

    Bravo

    659963.90

    9341587.16

    206.658

    SIRGAS2000_UTM_22S

    329.90

    330.00

    -60.00

    Central

    DDH23LU217

    Bravo

    659521.16

    9341055.16

    201.160

    SIRGAS2000_UTM_22S

    440.15

    330.00

    -60.00

    Central

    DDH23LU223

    Bravo

    658510.69

    9340208.35

    263.969

    SIRGAS2000_UTM_22S

    625.35

    330.00

    -60.00

    Central

    DDH23LU227

    Bravo

    658414.93

    9340570.24

    284.676

    SIRGAS2000_UTM_22S

    235.15

    330.00

    -60.00

    Central

    DDH23LU228

    Bravo

    658470.81

    9340774.32

    253.951

    SIRGAS2000_UTM_22S

    175.25

    330.00

    -60.00

    Central

    DDH23LU229

    Bravo

    658323.11

    9340729.79

    258.325

    SIRGAS2000_UTM_22S

    85.15

    330.00

    -60.00

    Central

    DDH23LU230

    Bravo

    658324.78

    9340628.10

    267.988

    SIRGAS2000_UTM_22S

    175.35

    330.00

    -60.00

    Central

    Schedule 2: Assay Methodologies and QAQC

    Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

    Quality Assurance and Quality Control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

    Bravo SGS Geosol

    Preparation

    Method

    Method

    Method

    Method

    For All Elements

    Pt, Pd, Au

    Rh

    Sulphide Ni, Cu

    Trace Elements

    PRPCLI (85% at 200#)

    FAI515

    FAI30V

    AA04B

    ICP40B

    Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)

    SOURCE Bravo Mining Corp.

    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/13/c5760.html

    Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:

    Anglo American plc NGLOY is a mining company. The Zacks Consensus Estimate for its current year earnings has been revised 21% downward over the last 60 days.

    FMC Corporation FMC is an agricultural sciences company. The Zacks Consensus Estimate for its current year earnings has been revised 7.3% downward over the last 60 days.

    First Majestic Silver Corp. AG is a mining company. The Zacks Consensus Estimate for its current year earnings has been revised 25% downward over the last 60 days.

    View the entire Zacks Rank #5 List.

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    To read this article on Zacks.com click here.

    Zacks Investment Research

    Canada Carbon Inc.

    Toronto, Ontario, Canada, Aug. 24, 2023 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the "Company" or "Canada Carbon") (TSX-V:CCB),(FF:U7N1) is is pleased to announce that it has entered into an Amended Surface Access Agreement (the “Surface Access Agreement”) with 9007-2224 Quebec Inc. (the “Landholder”) in respect to its Miller Property located in Grenville Township in Quebec (the “Miller Property”). The Surface Access Agreement, which supersedes the Amended Surface Access Agreement dated August 17, 2018, provides the Company with surface access for another five years commencing on August 17, 2023 (the “Term”) and allows the Company to carry out a regular graphite prospecting and exploration program including, but not limited to, conducting topographic, geological, geochemical and geophysical surveys, conducting underground or surface excavations, explorations and drillings, digging and trenching, and obtaining and testing geochemical or metallurgic samples.

    Pursuant to the Surface Access Agreement, and subject to the prior approval of the TSX Venture Exchange, the Company has agreed to pay the Landholder $8,000 in cash (plus applicable tax) in the first year of the Term, and for each subsequent year of the Term and until the Company begins operating the Miller Property as a mine (not including milling for the purposes of testing or milling by a pilot plant) (“Commercial Production”), the Landholder may elect to receive either 40,000 common shares in the capital of the Company, or a payment of $8,000 in cash (plus applicable tax).

    Should Canada Carbon begin Commercial Production during the Term, the payments outlined above will cease and the Landholder will be entitled to a 2.5% net smelter royalty upon and subject to the terms of a Royalty Agreement with the Landholder (the “Royalty Agreement”).

    The Surface Access Agreement grants the Company an exclusive and irrevocable option to acquire or lease all or part of the Miller Property from the Landholder reasonably necessary for the extraction of mineral substances (the “Option”). If the Company exercises the Option, either by acquiring or leasing all or part of the Miller Property prior to the expiry of the Term, the Term will be extended through the period of Commercial Production.

    About Canada Carbon Inc.

    Canada Carbon Inc. is a mining exploration and development company focused on the acquisition, exploration and development of graphite deposits. The Company holds a 100% interest in two strategic, past-producing graphite properties located in Quebec: the Miller Graphite Project located in Grenville-Sur-La-Rouge and the Asbury Graphite Mine located in Notre-Dame-du-Laus. Canada Carbon is committed to realizing its potential as a high-quality graphite producer while maintaining the highest standards of social and environmental responsibility. For more information on Canada Carbon's mining activities,please visit our website at www.canadacarbon.com.

    CANADA CARBON INC. “Ellerton Castor”Chief Executive Officer and Director Contact Information E-mail inquiries: info@canadacarbon.com   P: (905) 407-1212

    FORWARD LOOKING INFORMATION This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking information in this press release includes statements regarding the Miller Property, the Surface Access Agreement and the Royalty Agreement, and other matters related thereto. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; financial abilities; the ability to develop the Miller Graphite Deposit; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; the impact of COVID-19; and general business, economic, competitive, political, and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    VANCOUVER, BC, July 24, 2023 /CNW/ – Bravo Mining Corp. (TSX.V: BRVO) (OTCQX: BRVMF) ("Bravo" or the "Company") announces that it has granted 715,700 incentive stock options to directors, officers, employees and consultants with an exercise price of C$ 4.95, being the last closing price prior to the option grant. These grants were made in accordance with the Company's long term incentive plan and, in accordance with its stock option plan that was approved by shareholders on July 18, 2023, vest 25% immediately and 25% each anniversary thereafter.

    About Bravo Mining Corp.

    Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM + Au + Ni Project in the world-class Carajás Mineral Province of Brazil.

    The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo's current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, engagement with local communities, and ensuring protection of the environment during its exploration activities.

    Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this Press release.

    SOURCE Bravo Mining Corp.

    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2023/24/c8915.html

    Canada Carbon Inc.

    Toronto, ON, Canada, July 12, 2023 (GLOBE NEWSWIRE) — Canada Carbon (the "Company") is pleased to announce that the Municipality of Grenville-sur-la-Rouge ("GSLR"), through a letter from its attorneys and a letter from its authorized municipal officer, has recognized that the Miller graphite mine project (“the Miller Project”), located within GSLR, is a mining project within the meaning of the first paragraph of section 246 of the Act respecting land use planning and development ("RLUPD"), and that the Commission de Protection du Territoire Agricole du Québec ("CPTAQ") may proceed with its analysis, effective immediately.

    GSLR hereby acknowledges that its subdivision, zoning, construction, or other by-laws cannot impede the Company's graphite mine project in accordance with the Mining Act and are not enforceable against it. Consequently, GSLR’s attorneys have explicitly acknowledged the validity of the Company’s CPTAQ application.   This recognition by GSLR holds significance, as it allows the CPTAQ to evaluate the Company's authorization application on the merits of the project and without any additional delays.

    ‘’Canada Carbon has always sought to have the Miller Graphite Project evaluated solely on its merits. That includes the Company’s demonstrated interest in being a good corporate citizen and intent to pursue the development of the project in the most responsible manner. The Company will continue to work closely with all relevant stakeholders to ensure that the Miller project is developed with respect for the highest environmental standards and host communities. We will maintain an ongoing dialogue with the Municipality of Grenville-sur-la-Rouge, regulatory agencies, and other local communities to ensure a responsible and sustainable approach to the development process while ensuring positive economic outcomes for the region the province as a whole." said Ellerton Castor, Chief Executive Officer and Director of Canada Carbon.

    “For example, we have already commenced a significant drilling program designed to address certain questions raised about the hydrogeological profile of the project. We will continue to take a similarly proactive approach to the remainder of our licensing and permitting process”.

    About Canada Carbon Inc.

    Canada Carbon Inc. is a mining exploration and development company focused on the acquisition, exploration and development of graphite deposits. The Company holds a 100% interest in two strategic, past-producing graphite properties located in Quebec: the Miller Graphite Project located in Grenville-Sur-La-Rouge and the Asbury Graphite Mine located in Notre-Dame-du-Laus. Canada Carbon is committed to realizing its potential as a high-quality graphite producer while maintaining the highest standards of social and environmental responsibility. For more information on Canada Carbon's mining activities, please visit our website at www.canadacarbon.com.

    CANADA CARBON INC.“Ellerton Castor”Chief Executive Officer and DirectorContact InformationE-mail inquiries: info@canadacarbon.comP: (905) 407-1212

    /NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

    VANCOUVER, BC, June 15, 2023 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF) ("Bravo" or the "Company") announces that it has closed the previously announced private placement offering (the "Concurrent Private Placement") of common shares of the Company (the "Common Shares"). Pursuant to the Concurrent Private Placement, the Company has issued 1,504,992 Common Shares at a price of C$3.50 per Common Share for gross proceeds of C$5,267,472. Along with the completion of the public offering, which included the full exercise of the Agents' (as defined below) over-allotment option (the "Public Offering"), which was previously announced in the Company's news release dated June 8, 2023, the aggregate gross proceeds of the Public Offering and Concurrent Private Placement together are C$25,034,306.50. Following the Public Offering and the Concurrent Private Placement, the Company's issued and outstanding Common Shares total 108,152,660.

    Bravo Mining Corp. logo (CNW Group/Bravo Mining Corp.)

    The Public Offering and Concurrent Private Placement were co-led by Canaccord Genuity Corp., National Bank Financial Inc. and BMO Capital Markets on behalf of a syndicate that included Cormark Securities Inc. and Raymond James Ltd. (collectively, the "Agents"). Cozen O'Connor LLP acted as legal counsel to Bravo and Cassels Brock & Blackwell LLP acted as legal counsel to the Agents.

    "I am pleased with the outcome of our public offering and concurrent private placement and on behalf of Bravo's team, I would like to thank all parties involved as well as the support received from both existing and new shareholders", said Luis Azevedo, Chairman and CEO of Bravo. "The funds were raised at a premium of 100% from the IPO price in July 2022 and with limited dilution to existing shareholders, which underscores the recognition of the steady progress thus far we have made in advancing and unlocking the potential of our Luanga Project".

    In connection with the Concurrent Private Placement, the Company has paid the Agents a cash commission in the aggregate amount of C$181,693 equal to 5.0% of the gross proceeds of the Concurrent Private Placement, other than in respect of sales to certain purchasers on the president's list in which case the cash commission was reduced to 2.5%.

    The Common Shares issued pursuant to the Concurrent Private Placement are subject to resale restrictions under applicable Canadian securities legislation until October 16, 2023.

    The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

    About Bravo Mining Corp.

    Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM + Au + Ni Project in the world-class Carajás Mineral Province of Brazil.

    The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo's current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, engagement with local communities, and ensuring protection of the environment during its exploration activities.

    Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this Press release.

    SOURCE Bravo Mining Corp.

    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2023/15/c5931.html

    VANCOUVER, BC, Feb. 21, 2023 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF) (“Bravo” or the “Company”) has retained Integral Wealth Securities Limited (“Integral”) to provide market-making services in accordance with TSX Venture Exchange (“TSXV”) policies. Integral will trade common shares of Bravo on the TSXV to maintain an orderly market, improve the liquidity of Bravo’s shares and provide Bravo with market intelligence. In consideration for the services provided by Integral, Bravo has agreed to pay Integral a cash fee of $6,000 per month for an initial minimum term of three months, after which the agreement may be terminated by Bravo at any time upon 30 days’ written notice.

    Bravo and Integral are unrelated entities. To the knowledge of Bravo, Integral has no present, direct or indirect interest in Bravo or its securities. There are no performance factors in the agreement, and Integral will not receive shares or options as compensation. Integral is a member of the New Self-Regulatory Organization of Canada (New SRO). Accordingly, Integral can access all Canadian stock exchanges and alternative trading systems.

    About Bravo Mining Corp.

    Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.

    The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo’s current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

    For further information about Bravo, please visit www.bravomining.com or contact:

    Alex PenhaEVP Corporate Developmentinfo@bravomining.com

    SOURCE Bravo Mining Corp.

    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2023/21/c7717.html

    Eastern Platinum (TSE:ELR) Third Quarter 2022 Results

    Key Financial Results

    • Revenue: US$17.2m (up 8.1% from 3Q 2021).

    • Net loss: US$4.06m (loss widened by 62% from 3Q 2021).

    • US$0.029 loss per share (further deteriorated from US$0.018 loss in 3Q 2021).

    earnings-and-revenue-history

    All figures shown in the chart above are for the trailing 12 month (TTM) period

    Eastern Platinum shares are down 11% from a week ago.

    Risk Analysis

    Before you take the next step you should know about the 2 warning signs for Eastern Platinum (1 is a bit concerning!) that we have uncovered.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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