NEW YORK, July 22, 2021–(BUSINESS WIRE)–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Piedmont Lithium Inc. ("Piedmont Lithium" or the "Company") (NASDAQ: PLL) on behalf of Piedmont Lithium stockholders. Our investigation concerns whether Piedmont Lithium has violated the federal securities laws and/or engaged in other unlawful business practices.
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The investigation focuses on Piedmont Lithium’s public disclosures concerning its plan to build a large lithium mine in Gaston County, North Carolina.
In past years, Piedmont Lithium has repeatedly assured investors it would be imminently applying for permits and zoning variances to build the mine. The Company further assured investors it was "not aware" of any reason why Gaston County would not approve zoning changes.
Recently, in late September 2020, Piedmont Lithium announced it signed a deal to supply lithium ore sourced from its deposits in North Carolina to electric auto maker Tesla, reportedly conditional upon both companies to start deliveries between July 2022 and July 2023. This news sent the price of the company’s American Depositary Shares up over 200% on Sept. 28, 2020.
However, Piedmont Lithium's ability to perform on the Tesla deal came into question on July 20, 2021, when Reuters reported that Piedmont Lithium had not even applied for the necessary mining permit or zoning variances. According to the article, five of the seven members of the Gaston County’s board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected.
On this news, the Company’s stock price fell $12.56, or nearly 20%, to close at $50.52 per share on July 20, 2021.
If you purchased or otherwise acquired Piedmont Lithium shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210721005981/en/
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it completely lacks a track record of revenue and profit. But the reality is that when a company loses money each year, for long enough, its investors will usually take their share of those losses.
So if you're like me, you might be more interested in profitable, growing companies, like Red River Resources (ASX:RVR). Now, I'm not saying that the stock is necessarily undervalued today; but I can't shake an appreciation for the profitability of the business itself. In comparison, loss making companies act like a sponge for capital – but unlike such a sponge they do not always produce something when squeezed.
See our latest analysis for Red River Resources
As one of my mentors once told me, share price follows earnings per share (EPS). Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. Impressively, Red River Resources has grown EPS by 24% per year, compound, in the last three years. If the company can sustain that sort of growth, we'd expect shareholders to come away winners.
Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. Red River Resources shareholders can take confidence from the fact that EBIT margins are up from 2.3% to 11%, and revenue is growing. That's great to see, on both counts.
You can take a look at the company's revenue and earnings growth trend, in the chart below. Click on the chart to see the exact numbers.
Red River Resources isn't a huge company, given its market capitalization of AU$109m. That makes it extra important to check on its balance sheet strength.
Like the kids in the streets standing up for their beliefs, insider share purchases give me reason to believe in a brighter future. This view is based on the possibility that stock purchases signal bullishness on behalf of the buyer. However, small purchases are not always indicative of conviction, and insiders don't always get it right.
We haven't seen any insiders selling Red River Resources shares, in the last year. With that in mind, it's heartening that Timothy Stephen Hanlon, the Independent Non-Executive Director of the company, paid AU$35k for shares at around AU$0.24 each.
You can't deny that Red River Resources has grown its earnings per share at a very impressive rate. That's attractive. Not only is that growth rate rather juicy, but the insider buying makes my mouth water. So on this analysis I believe Red River Resources is probably worth spending some time on. However, before you get too excited we've discovered 1 warning sign for Red River Resources that you should be aware of.
The good news is that Red River Resources is not the only growth stock with insider buying. Here's a list of them… with insider buying in the last three months!
Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.
This article by Simply Wall St is general in nature. 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.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
Vancouver, British Columbia–(Newsfile Corp. – July 22, 2021) – Great Atlantic Resources (TSXV: GR) (FSE: PH02) has completed the second hole of its 2021 diamond drill program at its Golden Promise Gold property in Central Newfoundland, with visible gold evident in two quartz veins. The 100% owned Golden Promise Property is 1 of the company's 8 properties, which cover an area of 25,700 hectares, located within the central Newfoundland gold belt. This is a resumption of Phase 2 diamond drilling at the gold bearing Jaclyn Zone, located within the northern region of the Golden Promise Property, which hosts five gold bearing quartz veins systems, being the Jaclyn Main, Jaclyn North, Jaclyn South, Jaclyn East and Jaclyn West Zones.
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The current Phase 2 drilling will include up to 33 drill holes, totalling approximately 5,000 metres, at the gold bearing Jaclyn Zone with holes planned at the Jaclyn Main Zone and Jaclyn North Zone.
Drill hole GP-21-150, a definition hole, was drilled to a length of 111 metres, within the west region of the Jaclyn Main Zone between 2019 drill holes 138 and 143B, both of which had intersected high grade gold mineralization. Multiple quartz veins were intersected in GP-21-150. Visible gold is evident in a 0.30-meter long (core length) quartz vein intersected between 30.18 and 30.48 metres.
Drill core from GP-21-150 is currently being geologically logged and sampled at the company's secure facility in central Newfoundland prior to being submitted to a certified laboratory for gold assay and multi-element analysis.
Drilling is underway on the third hole GP-21-151, which also a definition hole in the western part of the Jaclyn Main Zone.
The objective of these holes and subsequent holes is to further define the zone and provide information for an updated resource estimate. Most of these holes are planned within the central to west region of the zone, testing above 200 metres vertical depth, with two holes planned in the east part of the Jaclyn Main Zone to test the zone at 200 to 350 metres vertical depth.
Great Atlantic confirmed high-grade gold at the Jaclyn Main Zone during 2019 drilling, including near surface intercepts of 113.07 g/t gold over 0.55 metres and 61.35 g/t gold over 2.04 metres, and 15.8 g/t gold over 2.70 metres, plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 grams per tonne gold over 25.25 metres. The planned drilling at the Jaclyn North Zone will further test the area east of historic drill holes including the area of an approximate 300-metre long zone of gold-bearing quartz vein boulders.
Three drill holes completed by the company during 2020 in this area intersected gold bearing quartz veins and extended the Jaclyn North quartz vein system approximately 260 metres east of historic drilling. The company collected gold bearing quartz boulder samples in this area during 2017, including samples returning 163, 208 and 332 g/t tonne and again in 2020 including samples returning 17.4, 26.7 and 157.6 grams per tonne gold.
The company reported a NI 43-101 compliant inferred resource estimate during late 2018 for the Jaclyn Main Zone of 357,500 tonnes at 10.4 grams per tonne gold for 119,000 ounces uncapped.
The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrane. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. at the Valentine Gold Project, Sokoman Minerals Corp. at the Moosehead Gold Project and New Found Gold Corp. at the Queensway Project.
Viewers are warned that mineralization at the Valentine Gold Project, the Moosehead Gold Project, the Queensway Project, and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization on the company's Golden Promise Property.
Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.
For more information, please visit the company's website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900 or email office@GreatAtlanticResources.com. For Investor Relations contact Andrew Job at 416-628-1560 or IR@GreatAtlanticResources.com.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90957
Lithium Americas shows rising price performance, earning an upgrade to its IBD Relative Strength Rating from 70 to 82.
LOS ANGELES, July 22, 2021–(BUSINESS WIRE)–Glancy Prongay & Murray LLP ("GPM"), a national investor rights law firm, continues its investigation on behalf of Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ: PLL) investors concerning the Company and its officers’ possible violations of the federal securities laws.
If you suffered a loss on your Piedmont investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/piedmont-lithium-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On July 20, 2021, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." According to the article, a majority of the board of commissioners said, "they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected."
On this news, the Company’s stock price fell $12.56, or nearly 20%, to close at $50.52 per share on July 20, 2021, thereby injuring investors.
Follow us for updates on LinkedIn, Twitter, or Facebook.
Whistleblower Notice: Persons with non-public information regarding Piedmont should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.
About GPM
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210722005868/en/
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
www.glancylaw.com
shareholders@glancylaw.com
BENSALEM, Pa., July 22, 2021–(BUSINESS WIRE)–Law Offices of Howard G. Smith continues its investigation on behalf of Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ: PLL) investors concerning the Company and its officers’ possible violations of federal securities laws.
On July 20, 2021, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." According to the article, a majority of the board of commissioners said, "they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected."
On this news, the Company’s stock price fell $12.56, or nearly 20%, to close at $50.52 per share on July 20, 2021, thereby injuring investors.
If you purchased Piedmont securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210722005867/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
SAN FRANCISCO, CA / ACCESSWIRE / July 22, 2021 / Hagens Berman urges Piedmont Lithium Inc. (NASDAQ:PLL) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations at Piedmont Lithium and certain investors may have valuable claims.
Visit:www.hbsslaw.com/investor-fraud/PLL
Contact An Attorney Now:PLL@hbsslaw.com
844-916-0895
Piedmont Lithium Inc. (PLL) Investigation:
The investigation focuses on Piedmont Lithium's public disclosures concerning its plan to build a large lithium mine in Gaston County, North Carolina.
In past years, Piedmont Lithium has repeatedly assured investors it would be imminently applying for permits and zoning variances to build the mine. The Company further assured investors it was "not aware" of any reason why Gaston County would not approve zoning changes.
Recently, in late September 2020, Piedmont Lithium announced it signed a deal to supply lithium ore sourced from its deposits in North Carolina to electric auto maker Tesla, reportedly conditional upon both companies to start deliveries between July 2022 and July 2023. This news sent the price of the company's American Depositary Shares up over 200% on Sept. 28, 2020.
However, Piedmont Lithium's ability to perform on the Tesla deal came into question on July 20, 2021, when Reuters reported that Piedmont Lithium had not even applied for the necessary mining permit or zoning variances. According to the article, five of the seven members of the Gaston County's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected.
This news sent the price of Piedmont ADSs crashing lower on July 20, 2021.
"We're focused on investors' losses and whether Piedmont concealed known building permit and zoning risks posed by the Gaston County mine," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Piedmont Lithium and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Piedmont Lithium should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email PLL@hbsslaw.com.
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
CONTACT:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
View source version on accesswire.com:
https://www.accesswire.com/656563/PLL-INVESTOR-ALERT-Hagens-Berman-Encourages-Piedmont-Lithium-NASDAQPLL-Investors-to-Contact-Firms-Attorneys-Now-Firm-Investigating-Possible-Securities-Law-Violations
OAKLAND, Calif., July 21, 2021–(BUSINESS WIRE)–Piedmont Lithium Inc. shares plunged nearly 20% on Tuesday, July 20, 2021 after Reuters reported it has repeatedly delayed seeking county approval for its proposed lithium mine, despite years of promising investors that it would do so. Five out of seven county officials now say they may block or delay the project because Piedmont has failed to inform them about the mine's potential environmental impacts. Gibbs Law Group is investigating a potential Piedmont Lithium Class Action Lawsuit on behalf of investors who lost money in Piedmont Lithium Inc. (NASDAQ: PLL).
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On Tuesday July 20, 2021, Reuters reported that a majority of county officials in Gaston County, North Carolina say they may block or delay Piedmont’s plan to build the largest lithium mine in the U.S., because the company has failed to inform them of any potential environmental impacts, including effects on noise, dust, vibrations, water and air quality.
Despite promising investors as early as 2018 that it would obtain permits by 2019, Piedmont has repeatedly delayed the process. In March 2021, Piedmont cancelled a planned meeting with county commissioners with three days’ notice, leading one commissioner to say, "This has been the worst rollout of a project from a company I’ve ever seen." Previously, Piedmont has told investors it was "not aware" of any potential roadblocks to receiving permitting, despite the fact that they had not yet presented any information to the county government.
Piedmont signed a deal with Tesla in 2020, causing its stock to skyrocket, and its proposed mine would be the largest lithium mine in the US.
Following news of trouble with its planned mine, Piedmont’s stock price plummeted nearly 20% at the close of July 20, 2021, causing significant harm to investors.
What Should Piedmont Investors Do?
If you invested in Piedmont, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Piedmont Lithium Inc. has violated federal securities laws by providing false or misleading statements to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including "Best Lawyers in America," "Top Plaintiff Lawyers in California," "California Lawyer Attorney of the Year," "Class Action Practice Group of the Year," "Consumer Protection MVP," and "Top Women Lawyers in California."
This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210720006285/en/
Contacts
EILEEN EPSTEIN
PHONE: 510.350.9728
EMAIL: EJE@CLASSLAWGROUP.COM
VANCOUVER, BC / ACCESSWIRE / July 21, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce it has completed the second hole (GP-21-150) of the 2021 diamond drilling program at its Golden Promise Gold Property, located in the central Newfoundland gold belt. The hole was completed at the Jaclyn Main Zone. Visible gold is evident in two quartz veins.
Quartz Vein with Visible Gold in GP-21-150
Drill hole GP-21-150 is a definition hole, drilled between drill holes GP-19-138 and GP-19-143B, both of which intersected high grade gold mineralization. GP-21-150 was drilled within the west region of the Jaclyn Main Zone (JMZ). It was drilled to a length of 111 meters. The current drilling is part of the Company's Phase 2 diamond drilling program at the gold bearing Jaclyn Zone. Drill core from GP-21-150 is currently being geologically logged and sampled at the Company's secure facility in central Newfoundland.
Multiple quartz veins were intersected in GP-21-150. Visible gold is evident in a 0.30-meter long (core length) quartz vein intersected at 30.18-30.48 meters and within quartz veined zone intersected at 75.75-76.58 meters (core length). Drill core samples from GP-21-150 will be submitted to a certified laboratory for gold assay and multi-element analysis.
Drilling is underway on the third hole GP-21-151, which also a definition hole in the western part of the JMZ.
The current Phase 2 drilling will include up to 33 drill holes at the gold bearing Jaclyn Zone with holes planned at the JMZ and Jaclyn North Zone with total planned drilling of approximately 5,000 meters. The objective of drilling at the JMZ is to further define the zone and provide information for an updated resource estimate of the JMZ. The Company is continuing the drill hole numbering system from previous drilling programs. Most of the planned holes at the JMZ are within the central to west region of the zone, testing above 200 meters vertical depth. Two holes are planned in the east part of the JMZ to test the zone at 200-350 meters vertical depth.
Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold – uncapped).
The Company confirmed high-grade gold at the JMZ during 2019 drilling, including near surface intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters, 61.35 g/t gold over 2.04 meters and 15.8 g/t gold over 2.70 meters plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 g/t gold over 25.25 meters.
Quartz Vein with Visible Gold in GP-21-149
The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV:SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV:NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization the Golden Promise Property.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
Investor Relations:
Andrew Job
1-416-628-1560
IR@GreatAtlanticResources.com
Office Line: 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/656386/Great-Atlantic-Second-Drill-Hole-Completed-Two-Veins-Intersected-Both-Contained-Visible-Gold
LOS ANGELES, July 21, 2021–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ: PLL) on behalf of investors concerning the Company’s possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On July 20, 2021, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." According to the article, a majority of the board of commissioners said, "they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected."
On this news, the Company’s stock price fell $12.56, or nearly 20%, to close at $50.52 per share on July 20, 2021, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Piedmont Lithium Inc. securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210720006287/en/
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
LOS ANGELES, CA / ACCESSWIRE / July 21, 2021 /The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Piedmont Lithium Inc. ('Piedmont' or 'the Company') (NASDAQ:PLL) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Reuters published an article on July 20, 2021, titled: 'In push to supply Tesla, Piedmont Lithium irks North Carolina neighbors.' According to the article, the Company 'has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.' The article continues, 'five of the seven members of the county's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected,' and quotes the chair of the board of commissioners as stating that 'Piedmont has sort of put the proverbial cart before the horse.' According to Reuters, 'state officials added their review process could stretch for more than a year as they solicit comments from at least six other state and federal agencies,' and quoted the director of Gaston County's planning and zoning office stating that 'I'm not even going to accept an application from Piedmont for rezoning until they have their state permit in hand.' Based on this news, shares of Piedmont traded down by almost 20% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Contacts
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
SOURCE: The Schall Law Firm
View source version on accesswire.com:
https://www.accesswire.com/656527/INVESTOR-ACTION-ALERT-The-Schall-Law-Firm-Announces-it-is-Investigating-Claims-Against-Piedmont-Lithium-Inc-and-Encourages-Investors-with-Losses-to-Contact-the-Firm
NEW YORK, July 21, 2021–(BUSINESS WIRE)–The law firm of Kirby McInerney LLP is investigating potential claims against Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ: PLL). The investigation concerns whether Piedmont has violated the federal securities laws and/or engaged in other unlawful business practices.
On July 20, 2021, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." According to the article, a majority of the board of commissioners said, "they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected." On this news, the Company’s stock price declined by $12.56 per share, or approximately 20%, from $63.08 per share to close at $50.52 per share on July 20, 2021.
If you purchased or otherwise acquired Piedmont securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210721005969/en/
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
investigations@kmllp.com
READING, Pa., July 21, 2021 (GLOBE NEWSWIRE) — EnerSys (NYSE: ENS) the global leader in stored energy solutions for industrial applications will host a conference call to discuss the Company’s first quarter of fiscal 2022 financial results and to provide an overview of the business. The call will conclude with a question and answer session.
The call, scheduled for Thursday, August 12, 2021 beginning at 9:00 a.m. Eastern Time, will be hosted by David M. Shaffer, Chief Executive Officer, and Michael J. Schmidtlein, Chief Financial Officer.
A live webcast of the conference call will be available on the Company’s website at http://www.enersys.com under the "Investor Relations" link. Presentation materials to be used in conjunction with the conference call will become available under the aforementioned link the evening before the conference call. There will be a free download of a compatible media player on the company’s website at http://www.enersys.com.
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The conference call information is: |
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Date: |
Thursday, August 12, 2021 |
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Time: |
9:00 a.m. Eastern Time |
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Via Internet: |
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Domestic Dial-In Number: |
877-359-9508 |
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International Dial-In Number: |
224-357-2393 |
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Passcode: |
4759148 |
A replay of the conference call will be available from 12:00 p.m. on August 12, 2021 through 12:00 p.m. on September 11, 2021.
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The replay information is: |
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Via Internet: |
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Domestic Replay Number: |
855-859-2056 |
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International Replay Number: |
404-537-3406 |
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Passcode: |
4759148 |
For more information, contact Michael J. Schmidtlein, Chief Financial Officer, EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 610-236-4040 or by emailing investorrelations@enersys.com.
About EnerSys:
EDITOR'S NOTE: EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Energy Systems, which combine enclosures, power conversion, power distribution and energy storage, are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Motive power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles. Specialty batteries are used in aerospace and defense applications, large over-the-road trucks, premium automotive, medical and security systems applications. EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. With the NorthStar acquisition, EnerSys has solidified its position as the market leader for premium Thin Plate Pure Lead batteries which are sold across all three lines of business.
More information regarding EnerSys can be found at www.enersys.com.
MISSISSAUGA, Ontario, July 21, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the "Company" or “Canada Carbon” or “CCB”) (TSX-V:CCB), (FF:U7N1) announces that it has acquired 20 additional mining claims, surrounding its two existing claims on the former Asbury Mine site. The total 22 claims (“Asbury claims”) cover 1,205.9 hectares. All the claims are located in zones where exploration and extraction activities are permitted. The Asbury claims are located about 8 kilometers northeast of the municipality of Notre-Dame-du-Laus in the Laurentides Region of southern Quebec.
The Company’s original two claims, totaling 119 hectares, are the location of the former Asbury Graphite Mine, a past producing property. Historical exploration by various companies and subsequent resource evaluations lead to historical production from 1974 to 1988. Open pit mining allowed the historical production of 875,000 metric tons of graphite ore at a cut-off grade of 6% Cg.
Canada Carbon management met with the Mayor of Notre-Dame-du-Laus and the Company was given approval to commence exploration. CCB will begin exploring the Asbury claims thoroughly in the coming months to assess quantity and quality of graphite and potential markets. Canada Carbon will work closely with the municipality to ensure that they are aware of our exploration plans and results. CCB is committed to communicating transparently and proactively with the citizens of the municipality to inform them of the company's actions and answer their questions.
The Asbury claims will be subject to two exploration phases located in two distinct areas.
The former Asbury Graphite Mine pit area: Previous exploration work in the vicinity of the historical pit area shows the presence of additional graphite mineralization both along strike and down dip. Of interest is an electromagnetic (“EM”) conductor located southwest from the current pit where up to 2.3% carbon over 40.5 meters (including 4.03% carbon over 11.7 meters) was identified in a diamond drilling program This conductor is defined over 500 meters in a north-south direction. Another parallel conductor exists in the vicinity of the pit and extends over 600 meters (Charbonneau, 20121).
Regional Electromagnetic (“EM”) conductor anomalies: An airborne EM survey was completed on the northeast area from the Asbury pit in 2013 by Focus Graphite Inc. The survey covered possible extensions from the Asbury deposit and shows multiple conductor anomalies extending northward for more than 4 kilometers (Dubé, 20132). The southwestern area of the conductor includes the Asbury historical pit while the northeastern area of the conductor includes a graphite showing named MC-8805 which included 8.14% Cg over 18.9 meters in a drill hole. Both ends of the conductors show significant mineralization.
“Graphite has been designated as a critical and strategic mineral by many countries as it is a building block for a greener future. Canada Carbon is very fortunate to have two graphite properties. While we are firmly committed to advancing the Miller Project, the Asbury claims may provide us with flexibility, synergies between the projects and an opportunity to expand our product offerings,” said Olga Nikitovic, Interim CEO.
Steven Lauzier, P.Geo. OGQ, a Qualified Person as defined by National Instrument 43-101 guidelines, has reviewed and approved the technical content of this news release.
For further information:
Olga Nikitovic
Interim CEO
Canada Carbon Inc.
info@canadacarbon.com
Valerie Pomerleau
Director Public Affairs and Communications
Canada Carbon Inc.
valerie@ryanap.com
(819) 856-5678
Notes :
1. Charbonneau, Rémi. 2012. Technical Report on the Asbury Graphite Property, In Accordance with National Instrument 43-101, MCGill Township, Quebec, Canada. Submitted to Canada Carbon Inc. Online on the SIGEOM database of the MERN. GM67673. 62 pages.
2. Dubé, Joel. 2013. Heliborne Magnetic and TDEM Survey. Island and Asbury Properties, Laurentides region, Québec, 2013. Submitted to Focus Graphite Inc. Online on the SIGEOM database of the MERN. GM67561. 47 pages. Dubé & Desaulniers Geoscience.
“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.”
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
By Ernest Scheyder
July 21 (Reuters) – A U.S. federal judge said on Wednesday she will rule by July 29 on whether to temporarily block Lithium Americas Corp from excavating its Thacker Pass site in Nevada, which could become one of the country's biggest lithium mines.
Environmentalists sued earlier this year to block the proposed lithium mine, arguing that it could threaten sage grouse habitats and that the former President Donald Trump's administration erred when it approved it in January.
Chief Judge Miranda Du of the federal court in Reno held a Wednesday hearing to determine whether excavation work at the mine site should first be blocked while she considers the broader question of whether approval should have been issued in the first place.
After a nearly three-hour hearing, Du said she will rule by next Thursday. The company had previously agreed to pause digging through that date, pending the court review.
Environmentalists hope to stop Lithium Americas from minor excavation work needed to determine whether the land holds historical import for Native Americans and others. The project cannot move forward until that work is complete.
Du, an appointee of former President Barack Obama, gave little hint as to which way she may rule and asked probing questions of attorneys for the Vancouver-based company, environmental groups, and the Bureau of Land Management, which is supporting Lithium Americas.
Thacker Pass would be one of the largest lithium mines in the United States if completed, producing 30,000 tonnes of lithium.
Laura Granier, an attorney for Lithium Americas, argued that temporarily blocking the project would harm President Joe Biden's efforts to address climate change, including promoting a switch to cleaner electric vehicles which use lithium-based batteries.
Talasi Brooks, who represented the environmental groups, told Du that any excavation – even if small – could cause irreparable harm to the area's wildlife.
Rival projects from ioneer Ltd and Piedmont Lithium also face opposition.
(Reporting by Ernest Scheyder Editing by Marguerita Choy)
BRISBANE, Australia, July 21, 2021 (GLOBE NEWSWIRE) — Orocobre Limited (TSX: ORL) (ASX: ORE) –
Olaroz Lithium Facility (Olaroz) operations continue to deliver improving cashflows with a Gross Cash Margin of $4,371/tonne following further improvement in the sales price of lithium chemicals and a continued focus on costs.1 Realised average price was US$8,476/tonne up 45% quarter on quarter (QoQ) on a free on board basis (FOB2) with prices up 170% over the past nine months. Costs were US$4,105/t3. The proportion of battery grade production reached a record level at 66%. Market conditions continue to improve which is reflected in increasing price forecasts by analysts and industry commentators.
OLAROZ LITHIUM FACILITY (ORE 66.5%)4
Activities continue to focus on the health and well-being of our staff, contractors and communities while maintaining production and expansion works with no COVID-19 related stoppages during the period. Approximately 60% of the operational workforce has now had their first dose of a vaccine
Production of 3,300 tonnes was up 31% on the previous corresponding period (PCP) and up 2% QoQ, despite the proportion of battery grade production increasing to 66% from 55% QoQ
Sales volume of 2,549 tonnes was up 59% on PCP, but down 16% QoQ due to global shipping delays and the requirement to hold additional stock in Japan to guarantee smooth delivery into the Prime Planet Energy and Solutions (PPES) contract
Sales revenue was up 22% QoQ to US$21.6 million with the realised average price achieved up 45% QoQ to US$8,476/tonne FOB2. Prices have now increased by nearly 170% over the last nine months
Cash costs (on a cost of goods sold basis)3 were up 5% to US$4,105/tonne on PCP excluding the export tax of US$407/tonne with proportional sales of battery grade material nearly doubling over that period
Gross cash margin was up materially to US$4,371/t, generating a gross margin of 52%
In the upcoming half, a proportion of sales will be into contracts that were agreed in December 2020 reflecting prices of that time. The average price in the December half will reflect improved market conditions partially offset by lagged pricing and will be approximately US$9,000/tonne FOB2 subject to shipping and delivery schedules
LITHIUM GROWTH PROJECTS
During the June quarter work at Olaroz Stage 2 continued with strong adherence to the COVID-19 Bio-Security Protocol. At the end of June, most infrastructure is complete, nearly 80% of ponds are built and soda ash and carbonation plants are 10% and 14% complete respectively. Additional accommodation facilities were completed in the quarter with over 650 personnel on site
Stage 2 is expected to be complete in H1 CY22 and to commence production the following half. Production will ramp up over two years to full capacity of 25,000 tonnes per annum (ktpa) of primary grade lithium carbonate by H2 CY24
Naraha site operations have continued throughout the period with construction now mostly complete and pre-commissioning works underway. Commissioning will be delayed until Q1 CY22 due to COVID-19 related delays of travel to site by Veolia’s international commissioning engineers and technicians
A scoping study into a further expansion at Olaroz (Stage 3) has commenced. The study will investigate options for additional production of 25-50ktpa from Olaroz, Cauchari or a combination of both, leveraging existing Stage 1 and 2 infrastructure
Discussions continue with Toyota Tsusho Corporation (TTC) regarding an expansion of lithium hydroxide production to meet forecast growth in demand
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1 All figures presented in this report are unaudited
2 Orocobre report price as “FOB” (Free On Board) which excludes insurance and freight charges included in “CIF” (Cost, Insurance, Freight) pricing. Therefore, the Company’s reported prices are net of freight (shipping), insurance and sales commission. FOB prices are reported by the Company to provide clarity on the sales revenue that is recognized by SDJ, the joint venture company in Argentina
3 Excludes royalties, export tax and corporate costs
4 All figures 100% Olaroz Project basis
BORAX ARGENTINA
Overall sales volume for the June quarter was 11,188 tonnes, up 9% QoQ and down 9% on PCP
Sales revenue was down 5% QoQ due to lower average prices that were down 13% QoQ due to sales mix
CORPORATE
On 19 April 2021, Orocobre and Galaxy Resources (ASX:GXY, “Galaxy”) announced that they entered into a binding Merger Implementation Deed (MID) under which the two companies will merge via a Galaxy Scheme of Arrangement (Scheme) pursuant to which Orocobre will acquire 100% of the shares in Galaxy
Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held at the Scheme record date. Upon implementation of the Scheme, Orocobre shareholders will own 54.3% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.7%
The Scheme booklet was dispatched to Galaxy shareholders on 7 July 2021 and the Scheme meeting for Galaxy shareholders will be held on 6 August with Scheme implementation expected on 25 August
At 30 June 2021, Orocobre corporate had available cash of ~US$238.3 million of which US$11.1 million and US$109.5 million have been set aside as pre-completion guarantees for the Naraha debt facility and Olaroz Expansion debt facility respectively
Including Sales de Jujuy (SDJ) and Borax cash and project debt, net group cash at 30 June 2021 was US$68.1 million, down from US$97.7 million at 31 March 2021
OLAROZ LITHIUM FACILITY
Click here for more information on Olaroz
SAFETY AND COVID-19
During the June quarter the team continued preventive actions to manage any impact from ongoing infections across the country with our first and most effective barrier remaining a strong Bio-Security Protocol. Local communities and including our employees are currently being vaccinated in cooperation with the local Susques hospital. Approximately 60% of the workforce (including contractors) have now been vaccinated with their first dose.
Daily monitoring of the workforce health continues throughout 14 day rosters that apply to all personnel and include those employees who would normally reside in local communities.
Additional accommodation facilities have been installed to enable the growing construction workforce to operate within the COVID-19 Bio-Security Protocol.
Improved safety performance was achieved during FY21 with a TRIFR of 2.3 (FY20: 3.0). By 30 June Olaroz Lithium Facility achieved 124 days without an LTI.
OPERATIONAL UPDATE
QUALITY
Product quality remains a key focus of the operational team. Key metrics such as brine concentration, magnetic particles and product consistency continue to show positive results.
PRODUCTION
Production for the June quarter was 3,300 tonnes, up 31% from 2,511 tonnes in the PCP with 66% of production being battery grade lithium carbonate. Brine concentration remains at higher levels than in recent years resulting in high daily production rates, higher plant recovery and continued low costs.
SALES AND COMMERCIAL
Product sales were 2,549 tonnes of lithium carbonate up 59% on PCP but down 16% QoQ due to global shipping delays and the requirement to hold additional stock in Japan to guarantee smooth delivery into the PPES contract.
Total sales revenue was up 22% QoQ to US$21.6 million and up 245% on PCP which was affected by initial COVID-19 disruptions. The average price received was up 45% QoQ to US$8,476/tonne on an FOB3 basis and up 117% on PCP with significantly stronger pricing relative to a year ago.
In the upcoming half, a proportion of sales will be into contracts that were agreed in December 2020 reflecting prices of that time. The average price in the December half will reflect improved market conditions partially offset by lagged pricing and will be approximately US$9,000/tonne FOB2 subject to shipping and delivery schedules.
More than 50% of forecast sales for the September 2021 quarter are expected to be allocated to long term battery grade contracts. The percentage of battery grade product sales is expected to remain above 50% during FY22.
COSTS/MARGINS
Cash cost of goods sold for the quarter (including COVID-19 related costs) increased by only 5% on PCP to US$4,105/tonne3 despite the proportion of battery grade sales nearly doubling. This excludes export duties for the quarter of US$407/tonne. Costs increased by 6% QoQ with the proportion of battery grade sales increasing from 47% to 57% QoQ.
Total cost of sales has been maintained at low levels demonstrating the significant focus and reduction of fixed cost within the operating business. Lower reagent usage due to improved process efficiency and an increase in the export incentive refund with higher product prices have also contributed to the strong cost performance.
Gross cash margins for the quarter returned to being strongly positive at US$4,371/tonne, this is expected to remain positive with supportive pricing in Q1 FY22.
STAGE 2 EXPANSION AT OLAROZ
PROJECT STATUS
During the June quarter work at Olaroz Stage 2 continued with strong adherence to the COVID-19 Bio-Security Protocol. Additional accommodation facilities were completed with more than 650 personnel on site. Most infrastructure is now complete, nearly 80% of ponds are built and the soda ash and carbonation plants are 10% and 14% complete respectively.
Stage 2 is expected to be complete in H1 CY22 and to commence production the following half. Production will ramp up over two years to full capacity of 25ktpa of primary grade lithium carbonate by H2 CY24.
CARBONATION, LIME AND SODA ASH FACILITIES
Carbonate plant soda ash handling facilities construction continued during the quarter with some delays due to COVID-19, bad weather and high winds. Mitigation actions have been identified to minimise any disruption to the schedule. Foundations for the soda ash and carbonation buildings are 91% and 65% complete respectively. All of the steel structure for the carbonation and soda ash plants is on site including cladding, roofing and overhead cranes.
Planning for liming plant #3 is well underway and contracts have been awarded. This additional liming capacity is expected to be available by the end of the year.
FUTURE MILESTONES
Work in H2 CY21 will focus on delivery of additional gas fired power generators, completion of ponds and construction of liming plant #3. In the first half of CY22 all new production wells, soda ash facilities and the carbonation plant will be completed.
NARAHA LITHIUM HYDROXIDE PLANT
PROGRESS TO DATE
The Naraha Plant, the first of its kind to be built in Japan, is designed to convert primary grade lithium carbonate feedstock into battery grade lithium hydroxide. Feedstock for the 10 ktpa Naraha Plant will be sourced from the Olaroz Lithium Facility’s Stage 2 Expansion that will produce primary grade (>99.0% Li2CO3) lithium carbonate.
Since construction commenced at the Naraha Plant there have been no LTIs recorded with nearly 250,000 hours worked on the project.
At 30 June, approximately US$56.7 million has been spent on engineering, civil works, electrical, instrumentation, fabrication and procurement at the Naraha Plant. Capex spend has remained relatively static due to the agreed payment schedule with Veolia, the EPC contractor.
Site operations have continued throughout the period with construction now mostly complete and pre-commissioning works underway. Commissioning will be delayed until Q1 CY22 due to COVID-19 related delays of travel to site by Veolia’s international commissioning engineers and technicians.
SHARED VALUE PROGRAM AND COMMUNITY
The Shared Value team built on their knowledge of local communities and sustainability with a combination of remote work and a number of visits to communities that are directly and indirectly influenced by the company’s operations. Key actions during the quarter included:
Community Relations
Management of work rosters within COVID-19 limitations: Communication with Community Coordinators, local government contacts and local suppliers to manage and confirm the date and location of PCR sample collection (COVID-19 tests) and the transfer schedules for rostered employees
The Shared Value team accompanied provincial officials in the re-commissioning of the Autonomous Photovoltaic Power Plant in Olaroz Chico, which supplies solar electricity to the town. The system capacity has tripled from 50 Kw to 150 Kw. The Shared Value team also participated in the inauguration ceremony of a modular community health centre. The hospital unit has an inpatient ward, pharmacy, laboratory, cardiology area and consulting rooms
During the month of June, on-site monitoring and follow-up of activities were carried out with local suppliers of laundry services with the aim of strengthening links and encouraging open dialogue
Construction of Liming Plant N° 3 has been awarded to a local joint venture. It has also been determined that external civil works and HDPE pipe laying will be quoted only with suppliers from the local community
Community development programs
Program to Support Food Independence: Family Food Production Units UPAF
During the quarter, the communities continued harvesting vegetables for the spring-summer season with very good yields; information on production and temperature data continues being collected. The families began preparing the land for sowing of autumn-winter vegetables. The community of Olaroz Chico has completed the construction of their greenhouses and will start planting seedlings. In Coranzulí, the work of the families extended to school greenhouses managing cultural work and planting. The programme was expanded to the production of laying hens to provide animal protein for the families' diets.
Community Investment Programme
The work planned for this period with the Coranzuli Community Hall is 80% complete with an investment of US$25,000. The community values the delivery of the commitment considering the COVID19 context made it difficult to manage the implementation of this initiative.
MARKET
Demand
Demand for lithium chemicals remained strong across all key geographies and customer segments (industrial applications and battery materials) in response to improved business confidence levels.
Customers’ concerns for securing supply also intensified during the June quarter as evidenced by enquires for delivery of volumes in 2021 being higher than originally requested. Existing and prospective customers have also engaged earlier than usual to secure product volumes for future years.
Lithium chemical prices continued to grow during the quarter with strong demand from the Electric Vehicle (“EV”) sector where sales in the period January to May reached two million vehicles (compared to 750k in 2020 and 850k in 2019 over the same months).
Whilst lithium carbonate prices stabilised in China, global weighted average prices reported by Benchmark Minerals increased by 15.6% during the quarter from US$10,752/tonne in March to US$12,432/tonne in June as prices ex- China continued rising and narrowing the gap with China. Lithium Hydroxide prices once again established a premium over carbonate prices during the June quarter with weighted average prices of US$13,873/tonne as reported by Benchmark Minerals.
The commitment from Government, OEMs, and the Energy Sector to accelerate the development of the lithium battery supply chain grew firmly during the June quarter. Planned global capacity of Gigafactory’s increased by ~ 460 GWh (12%) to approximately 4,200 GWh by 2030 based on committed investments announced during the June quarter. Such indicators continue to put pressure on development of lithium chemical supply and widen the estimated supply deficit.
Supply
Estimated lithium chemical production and conversion in China increased to ~20,500 tonnes of lithium carbonate per month during the June quarter from ~14,500 tonnes per month during the preceding nine months. Lithium hydroxide capacity over the same periods increased to ~14,500 tonnes per month from ~12,300 tonnes per month. The overall increase in production of lithium chemicals was in response to the accelerated demand from the EV sector and was partially achieved with incremental supply from Chinese brines during the spring period which assisted in stabilising lithium carbonate domestic prices. Australian spodumene producers also lifted utilisation rates and exports to China benefitting from a significant increase in prices during the period.
New partnerships were established between lithium chemical producers and lithium mineral explorers with the purpose of developing additional supply of lithium chemicals in response to growing demand. Supply forecasts of lithium chemicals have been revised up during the quarter considering recent announcements, however, it continues to fall short of meeting the revised estimates of demand.
BORAX ARGENTINA S.A.
SAFETY
Following a major focus on safety, TRIFR for FY21 has improved to 2.6 from 8.8 in FY20.
Since the safety review last year there have not been any LTI or Environmental incidents at the three operational Borax sites. As at 30 June, Sijes celebrated one year without recordable incidents, Tincalayu achieved 350 days and Campo Quijano has had 309 days without an LTI.
Good progress has been achieved with recycling waste where a new agreement with an external company was signed to utilise some of this material. The first shipment occurred in May with 23 tons of scrap metal and one tonne of batteries. A further shipment occurred in June with five tonnes of plastic material.
The COVID-19 Bio-Security Protocol remains in place at Borax and approximately 40% of employees are now vaccinated with at least one dose.
Intelex is currently being implemented in Borax which will improve reporting, investigation and tracking of corrective actions related to adverse events. The Management team has been trained in leading indicators and KPI objectives were set for FY22. Some of the Dupont initiatives implemented in SDJ are being considered for implementation at Borax.
PRODUCTION, SALES AND OPERATIONAL UPDATE
June quarter sales were 11,188 tonnes, up 9% QoQ and down approximately 9% from the PCP. Total sales revenue was down 5% QoQ with the average price received down 13% QoQ due to lower sales of chemicals and higher sales of lower priced mineral products. Operations have continued under the Orocobre Bio-Security Protocol.
CORPORATE AND ADMINISTRATION
MERGER WITH GALAXY RESOURCES
On 19 April 2021, Orocobre and Galaxy Resources (ASX:GXY, “Galaxy”) announced that they entered into a binding Merger Implementation Deed (MID) under which the two companies will merge via a Galaxy Scheme of Arrangement (Scheme) pursuant to which Orocobre will acquire 100% of the shares in Galaxy.
Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held at the Scheme record date. Upon implementation of the Scheme, Orocobre shareholders will own 54.3% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.7%.
The Scheme is unanimously recommended by the Board of Galaxy and each Galaxy Director intends to vote all the shares that they hold in Galaxy in favour of the Scheme (in both cases, subject to no superior proposal emerging and the Independent Expert continuing to conclude that the Scheme is “fair and reasonable” and in the best interests of Galaxy shareholders).
The Scheme is endorsed and supported by the Board of Orocobre, subject to no proposal for Orocobre emerging.
As part of the proposed Scheme, Martin Rowley will become Non-Executive Chairman, Robert Hubbard will become Deputy Chairman, and Martín Pérez de Solay will remain CEO and Managing Director of the merged group, with a highly experienced and complementary Board and management team drawn from the combined group.
The First Hearing in the Supreme Court of Western Australia was conducted on 2 July 2021 and the Court made orders to convene a meeting of Galaxy shareholders to consider and vote on the Scheme and to dispatch an explanatory statement along with the Scheme booklet.
Subsequently, the Scheme booklet was dispatched to Galaxy shareholders on 7 July 2021 and the Scheme meeting for Galaxy shareholders will be held on 6 August.
FINANCE
CASH BALANCE
At 30 June 2021, Orocobre corporate had available cash of ~US$238.3 million of which US$11.1 million and US$109.5 million have been set aside as pre-completion guarantees for the Naraha debt facility and Olaroz Expansion debt facility respectively.
The US$3.3 million corporate net cash reduction from the previous quarter was the result of US$0.7 million advanced to SDJ Joint Venture as a shareholder loan to largely fund finance payments, US$2.5 million corporate costs and US$0.2 million other project payments partially offset by US$ 0.1 million of net interest income and forex.
Including SDJ and Borax cash and project debt, net group cash at 30 June 2021 was US$68.1 million, down from US$97.7 million at 31 March 2021 due to drawdown of project finance for the Olaroz Stage 2 expansion and Naraha project payments.
ARGENTINA ECONOMIC CONDITIONS
Currency: The official foreign exchange rate depreciated by 4% in the June quarter from AR$92 at 31 March 2021, to AR$95.72 at 30 June 2021. The accumulated 12-month period from 1 July 2020 to 30 Jun 2021 resulted in a ~36% devaluation of the AR$ against the US$.
Inflation: June inflation was 3.2% and accumulated ~11% in the quarter. The accumulated 12-month period from 1 July 2020 to 30 Jun 2021 resulted in inflation of approximately ~50%.
Authorised by:
Rick Anthon
Joint Company Secretary
FOR FURTHER INFORMATION PLEASE CONTACT:
Andrew Barber
Chief Investor Relations Officer
Orocobre Limited
P: +61 7 3720 9088
M: +61 418 783 701
E: abarber@orocobre.com
W: www.orocobre.com
NEW YORK, NY / ACCESSWIRE / July 21, 2021 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ:PLL). Investors who purchased Piedmont shares are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/pll.
The investigation concerns whether Piedmont and certain of its officers and/or directors have violated federal securities laws.
In 2020, Piedmont signed a deal to supply Tesla Inc. with lithium sourced from its deposits in North Carolina. Then, on July 20, 2021, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." Reuters further reported that "[f]ive of the seven members of the county's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected." On this news, Piedmont's stock price fell $12.56 per share, or 19.91%, to close at $50.52 per share on July 20, 2021.
If you are aware of any facts relating to this investigation, or purchased Piedmont shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/pll. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz and Grossman, LLC
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https://www.accesswire.com/656538/Bronstein-Gewirtz-Grossman-LLC-Notifies-Shareholders-of-Piedmont-Lithium-Inc-PLL-Investigation
By Ernest Scheyder
GASTON COUNTY, N.C., July 20 (Reuters) – In its quest to build one of the largest lithium mines in the United States, Piedmont Lithium Inc has overlooked one crucial constituency: its North Carolina neighbors.
Piedmont last autumn signed a deal https://www.reuters.com/article/us-piedmont-lithium-deal-tesla-idUSKBN26J03H to supply U.S. electric automaker Tesla Inc with lithium sourced from its deposits in North Carolina, sending the company's stock up tenfold.
Piedmont has also hired investment banks to find investors for its $840 million project, which would include an open-air pit more than 500 feet (152 m) deep and facilities to produce lithium-based electric vehicle (EV) battery chemicals.
The company, however, has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.
Five of the seven members of the county's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected.
"Piedmont has sort of put the proverbial cart before the horse," said Tom Keigher, chair of the board of commissioners. "Why in the world would they make this deal with Tesla before they even have approval for the mine?"
Piedmont said it waited to approach officials in order to refine its plans – it published a third iteration last month – and to secure a customer to show that the mine could stay open for its projected 20-year lifespan.
"We finally have a project to debut and really talk about," said Keith Phillips, Piedmont's chief executive officer.
"Maybe it would have been better had (commissioners) been in the loop constantly. We didn't really have the time or resources to do it and we didn't even know what to tell them, until now."
The deteriorating relationship between Piedmont and county leaders reflects broader tension in the United States as resistance to living near a mine clashes with the potential of EVs to mitigate climate change.
Piedmont has already spent $58 million on the project, which would produce about 30,000 tonnes of lithium annually, enough to make about 3 million EVs.
The company originally planned to put its chemical plant in a neighboring county, but now intends to build it near the mine, a step that should reduce truck traffic. Piedmont also plans to crush rock in the mine pit, alleviating dust, and incorporate solar power.
TUESDAY MEETING
In September 2018, Piedmont told investors it expected to obtain permits by the end of 2019. In August 2019, executives said they would apply for permits and rezoning "in the coming months."
Piedmont said both times it was "not aware" of any reason why the county would not approve zoning changes, even though it had yet to present any information to commissioners. In December, Piedmont said it expected to receive local zoning approval before the end of June.
The company said the delays were due in part to weak lithium prices in recent years.
Piedmont had been set to meet with commissioners in March, but canceled with three days' notice, further straining the relationship. Piedmont said it canceled that meeting in order to further refine its plans.
"This has been the worst rollout of a project from a company I've ever seen," said Chad Brown, a commissioner who opposes the mine.
Phillips, Piedmont's CEO, is slated to give a 15-minute presentation to commissioners on Tuesday night, though no vote will be held.
Phillips said he will tell commissioners Piedmont expects to apply for a state mining permit this summer, begin construction in April 2022 and be in production by the second half of 2023.
Piedmont's deal with Tesla involves supplying roughly 53,000 tonnes of spodumene concentrate to the automaker's planned lithium hydroxide chemical plant in Texas starting sometime between July 2022 and July 2023.
Piedmont declined to discuss the Tesla arrangement, but hinted the automaker may not need supply by 2023.
"We're confident in the relationship we have with our customer to be able to manage the supply of lithium when they need it," said David Klanecky, Piedmont's chief operating officer.
Tesla, which has other lithium suppliers, did not respond to requests for comment.
The North Carolina Department of Environmental Quality, which issues mining permits, said it expects an application "in the near future."
State officials added their review process could stretch for more than a year as they solicit comments from at least six other state and federal agencies.
"I'm not even going to accept an application from Piedmont for rezoning until they have their state permit in hand," said Brian Sciba, director of Gaston County's planning and zoning office.
'MINE AROUND MY PROPERTY'
Piedmont, whose stock trades in Australia and began trading on the Nasdaq in the United States earlier this year, owns or controls more than 3,000 acres (12 sq km) in the western corner of rural Gaston County.
While some landowners are prepared to sell if the offer is enticing enough, others say Piedmont has bullied them.
"They told me that if I don't sell, they'll just mine around my property," said Emilie Nelson, whose 14 acres Piedmont has tried to buy since 2017.
Piedmont said it was unaware if one of its contractors made the alleged threat, but did not authorize or condone it.
"We always deal respectfully with folks," said Patrick Brindle, Piedmont's vice president of project management. "And if we weren't those kind of operators, I don't think we would be successful in entering into the number of agreements with landowners that we have."
Landowners said they would prefer Piedmont only build a processing plant and rely on a foreign mine for lithium supply. Livent Corp and Albemarle Corp operate lithium processing plants in the county that source the metal from South America.
Piedmont, which recently bought stakes in Quebec and Ghana lithium projects, said it prefers to mine and process the metal at the Gaston County site.
Piedmont's arrangement with Tesla has done little to impress locals. More than 1,500 have signed a petition asking officials to block the mine.
"There's no doubt the mine would benefit our country and the green energy industry," said Tracy Philbeck, a commissioner. "But it would have a negative impact on our community." (Reporting by Ernest Scheyder; Editing by Amran Abocar and Marguerita Choy)
SAN DIEGO, July 20, 2021 /PRNewswire/ — Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ: PLL).
On July 20, 2021, Reuters reported that Piedmont hired investment banks to find investors for an $840 million project in Gaston County, North Carolina, including an open-air pit to produce lithium-based electric vehicle battery chemicals. According to the news release, the Company has not applied for a state mining permit or a required zoning variance in Gaston County, despite telling investors since 2018 that it was on the verge of doing so.
If you have information that could assist in this investigation, including past employees and others, or if you are a Piedmont shareholder and are interested in learning more about the investigation, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[click here to join this action]
View original content:https://www.prnewswire.com/news-releases/pll-alert-johnson-fistel-investigates-piedmont-lithium-did-you-lose-money-on-your-investment-301337808.html
SOURCE Johnson Fistel, LLP
TORONTO, July 20, 2021 (GLOBE NEWSWIRE) — Noront Resources Ltd. (TSXV: NOT) (“Noront” or the “Company”) announces that payment of interest in the amount of $371,700 for the second quarter of 2021 pursuant to a loan agreement between Noront and Wyloo Canada Holdings Pty Ltd. (“Wyloo”) dated February 26, 2013 (the “Loan Agreement”) will be satisfied by delivery of 1,111,945 common shares of the Company (the “Interest Shares”) at an effective price of $0.3343 per Interest Share. The Interest Shares will be subject to a four month hold period, expiring on November 21, 2021, and are subject to receipt of the final approval from the TSX Venture Exchange.
The calculation of the number of Interest Shares issued was based on the volume weighted average trading price of the common shares of the Company during the 20 trading days prior to June 30, 2021.
After giving effect to the issuance of the Interest Shares, there will be 458,268,304 common shares of the Company issued and outstanding.
About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.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.
For more information:
Greg Rieveley
greg.rieveley@norontresources.com
(416) 367-1444
By Ernest Scheyder
GASTON COUNTY, N.C. (Reuters) – In its quest to build one of the largest lithium mines in the United States, Piedmont Lithium Inc has overlooked one crucial constituency: its North Carolina neighbors.
Piedmont last autumn signed a deal https://www.reuters.com/article/us-piedmont-lithium-deal-tesla-idUSKBN26J03H to supply U.S. electric automaker Tesla Inc with lithium sourced from its deposits in North Carolina, sending the company's stock up tenfold.
Piedmont has also hired investment banks to find investors for its $840 million project, which would include an open-air pit more than 500 feet (152 m) deep and facilities to produce lithium-based electric vehicle (EV) battery chemicals.
The company, however, has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.
Five of the seven members of the county's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected. "Piedmont has sort of put the proverbial cart before the horse," said Tom Keigher, chair of the board of commissioners. "Why in the world would they make this deal with Tesla before they even have approval for the mine?"
Piedmont said it waited to approach officials in order to refine its plans – it published a third iteration last month – and to secure a customer to show that the mine could stay open for its projected 20-year lifespan.
"We finally have a project to debut and really talk about," said Keith Phillips, Piedmont's chief executive officer.
"Maybe it would have been better had (commissioners) been in the loop constantly. We didn't really have the time or resources to do it and we didn't even know what to tell them, until now."
The deteriorating relationship between Piedmont and county leaders reflects broader tension in the United States as resistance to living near a mine clashes with the potential of EVs to mitigate climate change.
Piedmont has already spent $58 million on the project, which would produce about 30,000 tonnes of lithium annually, enough to make about 3 million EVs.
The company originally planned to put its chemical plant in a neighboring county, but now intends to build it near the mine, a step that should reduce truck traffic. Piedmont also plans to crush rock in the mine pit, alleviating dust, and incorporate solar power.
TUESDAY MEETING
In September 2018, Piedmont told investors it expected to obtain permits by the end of 2019. In August 2019, executives said they would apply for permits and rezoning "in the coming months."
Piedmont said both times it was "not aware" of any reason why the county would not approve zoning changes, even though it had yet to present any information to commissioners. In December, Piedmont said it expected to receive local zoning approval before the end of June.
The company said the delays were due in part to weak lithium prices in recent years.Piedmont had been set to meet with commissioners in March, but canceled with three days' notice, further straining the relationship. Piedmont said it canceled that meeting in order to further refine its plans.
"This has been the worst rollout of a project from a company I've ever seen," said Chad Brown, a commissioner who opposes the mine.
Phillips, Piedmont's CEO, is slated to give a 15-minute presentation to commissioners on Tuesday night, though no vote will be held.
Phillips said he will tell commissioners Piedmont expects to apply for a state mining permit this summer, begin construction in April 2022 and be in production by the second half of 2023.Piedmont's deal with Tesla involves supplying roughly 53,000 tonnes of spodumene concentrate to the automaker's planned lithium hydroxide chemical plant in Texas starting sometime between July 2022 and July 2023.
Piedmont declined to discuss the Tesla arrangement, but hinted the automaker may not need supply by 2023.
"We're confident in the relationship we have with our customer to be able to manage the supply of lithium when they need it," said David Klanecky, Piedmont's chief operating officer.
Tesla, which has other lithium suppliers, did not respond to requests for comment.The North Carolina Department of Environmental Quality, which issues mining permits, said it expects an application "in the near future."
State officials added their review process could stretch for more than a year as they solicit comments from at least six other state and federal agencies.
"I'm not even going to accept an application from Piedmont for rezoning until they have their state permit in hand," said Brian Sciba, director of Gaston County's planning and zoning office.
'MINE AROUND MY PROPERTY'
Piedmont, whose stock trades in Australia and began trading on the Nasdaq in the United States earlier this year, owns or controls more than 3,000 acres (12 sq km) in the western corner of rural Gaston County.
While some landowners are prepared to sell if the offer is enticing enough, others say Piedmont has bullied them.
"They told me that if I don't sell, they'll just mine around my property," said Emilie Nelson, whose 14 acres Piedmont has tried to buy since 2017.
Piedmont said it was unaware if one of its contractors made the alleged threat, but did not authorize or condone it.
"We always deal respectfully with folks," said Patrick Brindle, Piedmont's vice president of project management. "And if we weren't those kind of operators, I don't think we would be successful in entering into the number of agreements with landowners that we have."
Landowners said they would prefer Piedmont only build a processing plant and rely on a foreign mine for lithium supply. Livent Corp and Albemarle Corp operate lithium processing plants in the county that source the metal from South America.
Piedmont, which recently bought stakes in Quebec and Ghana lithium projects, said it prefers to mine and process the metal at the Gaston County site.
Piedmont's arrangement with Tesla has done little to impress locals. More than 1,500 have signed a petition asking officials to block the mine.
"There's no doubt the mine would benefit our country and the green energy industry," said Tracy Philbeck, a commissioner. "But it would have a negative impact on our community."
(Reporting by Ernest Scheyder; Editing by Amran Abocar and Marguerita Choy)
CHARLOTTE, N.C., July 20, 2021 /PRNewswire/ — The Board of Directors of Albemarle Corporation (NYSE: ALB) announces that it has declared a quarterly dividend of $0.39 per share. The dividend, which has an annualized rate of $1.56, is payable Oct. 1, 2021, to shareholders of record at the close of business as of Sept. 17, 2021.
About Albemarle Corporation
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and catalysts. We think beyond business-as-usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
Forward-Looking Statements
Some of the information presented in this press release, including, without limitation, information related to future dividends and results, and all other information relating to matters that are not historical facts may constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors that could cause actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; adverse changes in liquidity or financial or operating performance; changes in the demand for our products or the end-user markets in which our products are sold and the other factors detailed from time to time in the reports we file with the SEC, including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
View original content to download multimedia:https://www.prnewswire.com/news-releases/albemarle-corporation-announces-dividend-301337838.html
SOURCE Albemarle Corporation
VANCOUVER, British Columbia, July 20, 2021 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), an innovative technology and lithium project development company, announces that effective immediately Dr. Volker Berl has been appointed as an independent director of the Company.
“I am pleased to welcome Dr. Berl to the board at this significant juncture in the Company’s evolution,” said Robert Cross, Chair of Standard Lithium’s board of directors. “Dr. Berl’s deep knowledge of the chemical industry coupled with his experience in institutional capital markets and an outstanding track record of investments in technology companies will be extremely valuable as we advance our goal of bringing the first new US lithium project into production in over 50 years.”
“I am excited to expand my involvement with Standard Lithium on the heels of the recent NYSE American listing and technological achievements”, Dr. Berl stated. “I look forward to representing shareholders and working closely with the board and team as they continue to execute on their strategic developments plans”.
Dr. Berl has been a venture builder and an avid serial investor since 2009. He is the Founder, Managing Partner and Chief Executive Officer of New Age Ventures, a venture studio with a portfolio of earlier stage and actively managed investments across healthcare, medical devices, digital health, cleantech, consumer tech, deep tech, applied artificial intelligence, and more. Mr. Berl is well connected in the New York technology investment community, and currently serves as a director for Gaussin S.A. (EPA:ALGAU) (since 2006), Leaderlease S.A. (since 2015), OrthogenRx, Inc. (since 2015), Venock, Inc. (since 2017), Emoshape, Inc. (since 2020), and Artract Medical, Inc. (since 2021).
Dr. Berl has held positions with BASF AG in Germany, from 2002 to 2005 in chemical manufacturing and process engineering, and in global new business development for chemical intermediates. In 2006, he was Vice President Equity Research Pharmaceuticals for Deutsche Bank, and Chief Technology Officer for bioscience company Zymes LLC from 2007 to 2009. Dr. Berl holds an M.B.A. in General Management from Concordia University (Canada), a post-doctoral chemistry fellowship from Stanford University (USA), a Ph.D. in Chemistry from the University of Strasbourg (France), a Masters in Chemical Engineering from the École Nationale Supérieure de Chimie, Polymères et Matériaux (France), and an M.Sc. in Chemistry from the Eidgenössische Technische Hochschule (Switzerland).
In connection with the appointment, Dr. Berl has been granted 22,500 performance share units (the “PSUs”), 7,500 restricted share units (the “RSUs”) and 200,000 incentive stock options (the “Options”). Each PSU and RSU represents the right to receive, once vested, one common share in the capital of the Company. The PSUs will vest upon the achievement of the performance milestones set forth in the Company’s news release of January 18, 2021. The RSUs vest quarterly in four equal parts over a twelve-month period, with the first part vesting on September 30, 2021. The Options vest immediately and are exercisable at a price of $6.08 until July 19, 2026.
The RSUs and PSUs were granted pursuant to the long-term incentive plan (the “LTIP”) previously adopted by the board of directors of the Company. Implementation of the LTIP remains subject to ratification by disinterested shareholders of the Company and approval of the TSX Venture Exchange. No PSUs or RSUs will vest, and no common shares of the Company will be issued in connection with any outstanding PSUs or RSUs, until such time as the LTIP as received approval of disinterested shareholders and the TSX Venture Exchange. In the event such approvals are not received prior to December 31, 2021, all PSUs and RSUs will be automatically cancelled without any further right or entitlement.
About Standard Lithium Ltd.
Standard Lithium is an innovative technology and lithium development company. The company's flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations. The company has commissioned its first-of-a-kind industrial-scale direct lithium extraction demonstration plant at Lanxess's south plant facility in southern Arkansas. The demonstration plant utilizes the company's proprietary LiSTR technology to selectively extract lithium from Lanxess's tail brine. The demonstration plant is being used for proof-of-concept and commercial feasibility studies. The scalable, environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours and greatly increases the effective recovery of lithium. The company is also pursuing the resource development of over 30,000 acres of separate brine leases located in southwestern Arkansas and approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino county, California.
Standard Lithium is listed on the TSX Venture Exchange and the NYSE American under the trading symbol “SLI” and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.
On behalf of the Board of Standard Lithium Ltd.
Robert Mintak, CEO & Director
For further information, contact Anthony Alvaro at (604) 240 4793
Twitter @standardlithium
LinkedIn https://www.linkedin.com/company/standard-lithium/
Neither the 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. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
St. Paul, Minnesota–(Newsfile Corp. – July 19, 2021) – Poly Met Mining, Inc., a wholly-owned subsidiary of PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) (together PolyMet or the company), issued the following statement regarding today's Minnesota Court of Appeals decision remanding the Company's air permit to the Minnesota Pollution Control Agency for additional explanation supporting its permitting decision.
While disappointed in the court's decision, we stand firmly in our belief that the Minnesota Pollution Control Agency appropriately accounted for the potential effects of the NorthMet Project and will expeditiously provide the supporting explanation requested by the court.
The facts and science that prove the project can meet air quality standards are not in doubt. Copper, nickel, palladium and cobalt are high demand metals for infrastructure projects and the production of electric vehicles and renewable and clean energy technologies including solar panels, wind turbines and batteries. These mineral resources need to be mined to support future clean energy and electric mobility technologies consistent with the priorities of the Biden Administration and as outlined in a June 2021 White House report on vulnerabilities within essential supply chains. Critical minerals such as those PolyMet will produce and large capacity batteries were two of the vulnerabilities identified in the 250-page report.
* * * * *
About PolyMet
PolyMet is a mine development company that owns 100% of the NorthMet Project, the first large-scale project to have received permits within the Duluth Complex in northeastern Minnesota, one of the world's major, undeveloped mining regions. NorthMet has significant proven and probable reserves of copper, nickel and palladium – metals vital to global carbon reduction efforts – in addition to marketable reserves of cobalt, platinum and gold. When operational, NorthMet will become one of the leading producers of nickel, palladium and cobalt in the U.S., providing a much needed, responsibly mined source of these critical and essential metals.
Located in the Mesabi Iron Range, the project will provide economic diversity while leveraging the region's established supplier network and skilled workforce, and generate a level of activity that will have a significant effect in the local economy. For more information: www.polymetmining.com.
For further information, please contact:
Media
Bruce Richardson, Corporate Communications
Tel: +1 (651) 389-4111
brichardson@polymetmining.com
Investor Relations
Tony Gikas, Investor Relations
Tel: +1 (651) 389-4110
investorrelations@polymetmining.com
PolyMet Disclosures
This news release contains certain forward-looking statements concerning anticipated developments in PolyMet's operations in the future. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or statements that events, conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words. These forward-looking statements may include statements regarding the ability to receive environmental and operating permits, job creation, and the effect on the local economy, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.
PolyMet's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations and opinions should change.
Specific reference is made to risk factors and other considerations underlying forward-looking statements discussed in PolyMet's most recent Annual Report on Form 40-F for the fiscal year ended December 31, 2020, and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission.
The Annual Report on Form 40-F also contains the company's mineral resource and other data as required under National Instrument 43-101.
No regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
The Annual Report on Form 40-F also contains the company's mineral resource and other data as required under National Instrument 43-101.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90639
Vancouver, British Columbia–(Newsfile Corp. – July 16, 2021) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) ("Millennial" or the "Company") and Ganfeng Lithium Co., Ltd. (HK: 1772 ) (OTCQX: GNENF) ("Ganfeng") are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement"), dated July 16, 2021 pursuant to which Ganfeng, through a British Columbia subsidiary, will acquire all of the outstanding common shares of Millennial (each, a "Common Share") by way of a plan of arrangement (the "Arrangement"), for CAD $3.60 per Common Share (the "Purchase Price") in cash representing total cash consideration of approximately C$353 million.
Farhad Abasov, President and Chief Executive Officer of Millennial, commented:
"Millennial is pleased to receive this offer from Ganfeng, one of the largest lithium producers. Millennial's board and management believe that the Arrangement provides a very attractive opportunity for Millennial's shareholders to realize full liquidity at a substantial premium to the current share price. The Arrangement firmly validates the efforts of the Millennial team in the past four years: advancing the Pastos Grandes Project through exploration to resource estimate, PEA, DFS and ultimately a highly successful pilot pond and plant operations where we have (as described in our news release of April 21, 2021) achieved 99.96% purity battery grade lithium carbonate production. Ganfeng would bring significant technical lithium expertise to Pastos Grandes gained through their partnership with Lithium Americas Corp. at Cauchari and other projects worldwide. The premium to the current share price offered by Ganfeng brings a significant value to the Millennial shareholders. We thank all our shareholders for their support all these years. I would also like to thank our board and its Chair, Graham Harris, who is also the founder of Millennial, for their solid support."
Li Liang Bin, Chairman and President of Ganfeng, commented:
"Millennial's 100%-owned Pastos Grandes Project is an attractive, advanced stage lithium project and is in our view highly complementary to our existing footprint in Argentina. We commend Millennial on their achievements to date and we look forward to working closely with stakeholders and local communities in Argentina to deliver a lithium operation that will benefit the regional economy."
Benefits to Millennial Shareholders
Significant premium of approximately 21% over the twenty (20) day average closing price of $2.98 for the Common Shares on the TSX Venture Exchange.
All-cash offer that is not subject to a financing condition.
Voting support with voting support agreements entered into with directors and senior officers of Millennial and with Millennial's largest shareholder representing an aggregate of approximately 17% of outstanding common shares.
Removes future dilution risk associated with funding development of next phase of Pastos Grandes Project.
Millennial Board of Directors' Recommendation
After consultation with its financial and legal advisors, and on the unanimous recommendation of a special committee of directors of Millennial (the "Special Committee"), the Arrangement Agreement has been approved unanimously by the board of directors of Millennial (the "Board") and the Board recommends that Millennial shareholders ("Shareholders") vote in favour of the Arrangement. The Special Committee has received a fairness opinion from Sprott Capital Partners LP ("Sprott"), which states that the consideration to be received by Shareholders pursuant to the Arrangement is fair, from a financial point of view, to Shareholders (other than Ganfeng).
Transaction Conditions and Timing
The Arrangement will be effected by way of a court-approved plan of arrangement under the British Columbia Business Corporations Act and will be subject to the approval of: (i) 662/3% of votes cast by Shareholders; (ii) 662/3% of votes cast by Shareholders and holders ("Warrantholders" and together with Shareholders, "Voting Securityholders") of Common Share purchase warrants ("Warrants"), voting together as a group; and (iii) a simple majority of the votes cast by Shareholders excluding for this purpose the votes held by any person required under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, at a special meeting of Voting Securityholders expected to be held in September 2021 (the "Meeting"). In addition to Voting Securityholder approval, the Arrangement is also subject to the receipt of certain regulatory and court approvals, including approval by relevant authorities in the People's Republic of China and Investment Canada Act approval, and other closing conditions customary in transactions of this nature.
The Arrangement provides for, among other things, customary Board support and non-solicitation covenants, with a "fiduciary out" that would allow Millennial to accept a superior proposal, subject to a "right to match" period in favour of Ganfeng. The Arrangement Agreement also provides for (i) a termination fee of US $10 million, payable by Millennial to Ganfeng in certain specified circumstances, (ii) the reimbursement of Ganfeng's expenses up to US $500,000 if the Arrangement Agreement is terminated in certain other specified circumstances, and (iii) a reverse termination fee of US $16 million, held in escrow and payable by Ganfeng to Millennial in certain other specified circumstances.
Directors and officers of Millennial, as well as Millennial's largest shareholder, have entered into support and voting agreements pursuant to which they have agreed to vote their Common Shares in favour of the Arrangement.
As part of the Arrangement, outstanding Company convertible securities, including the Warrants, stock options ("Options"), restricted share units ("RSUs") and performance share units ("PSUs") will be acquired by the Company and cancelled. The holders of Warrants will receive cash consideration of $0.30 per whole Warrant, and the holders of Options will receive cash consideration equal to the Purchase Price less the exercise price of such Option. Holders of RSUs and PSUs will receive cash consideration equal to the Purchase Price.
Subject to certain conditions, including the parties obtaining the requisite regulatory approvals, the Arrangement is expected to close in the fourth quarter of 2021.
Upon closing of the Arrangement, the securities of Millennial are expected to be concurrently delisted from the TSX Venture Exchange.
Full details of the Arrangement will be included in a management information circular of Millennial that is expected to be mailed to Voting Securityholders by the end of August 2021 and made available on SEDAR under the issuer profile of Millennial at www.sedar.com.
Advisors and Counsel
Gowling WLG (Canada) LLP is acting as Ganfeng's legal advisor.
Credit Suisse Securities (Canada) Inc. is acting as financial advisor to Millennial, and Dentons Canada LLP is acting as Millennial's legal advisor. Sprott is acting as financial advisor to the Special Committee.
About Millennial
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.
MILLENNIAL LITHIUM CORP.
About Ganfeng
Ganfeng is one of the largest producers of lithium. Ganfeng's operations are vertically integrated, encompassing all critical stages of the value chain, including upstream lithium extraction, midstream lithium compounds and metals processing as well as downstream lithium battery production and recycling. Ganfeng has one of the most comprehensive product offerings split into five major categories of more than 40 lithium compounds and metals products.
"Farhad Abasov"
President CEO and Director
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.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the Arrangement, including statements with respect to the benefits of the Arrangement to the Shareholders, the anticipated Meeting date and mailing of the information circular in respect of the Meeting, timing for completion of the Arrangement and receiving the required regulatory and court approvals, Ganfeng's expectations in respect of the Pastos Grandes Project, the accuracy of mineral resource and mineral reserve estimates at the Pastos Grandes Project and future plans and objectives of Ganfeng. The Company's current plans, expectations and intentions with respect to development of its business and of the Pastos Grandes Project may be impacted by economic uncertainties arising out of Covid-19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Pastos Grandes Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90447
Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – July 15, 2021) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" "PTM" or the "Company") reports the Company's financial results for the nine months ended May 31, 2021 and provides a summary of recent events and outlook. The Company is focused on advancing the Waterberg Project located on the Northern Limb of the Bushveld Complex in South Africa (the "Waterberg Project"). The Waterberg Project is planned as a fully mechanised, shallow, decline access palladium, platinum, gold and rhodium ("4E") mine and is projected to be one of the largest and lowest cost underground platinum group metals ("PGM" or "PGMs") mines globally.
A mining right for the Waterberg Project was granted by the South African Department of Mineral Resources and Energy ("DMRE") on January 28, 2021 and was notarially executed on April 13, 2021 (the "Waterberg Mining Right"). The Company's near-term objectives are to continue working closely with established local community leadership to maximize the value of the Waterberg Project for all stakeholders and to complete construction funding and concentrate offtake arrangements for the Waterberg Project.
The Company is also advancing an initiative through Lion Battery Technologies Inc. ("Lion") in collaboration with Anglo American Platinum Limited ("Anglo") and Florida International University ("FIU"). Lion was jointly formed in 2019 by Platinum Group and Anglo to accelerate the development of next-generation lithium battery technology using platinum and palladium. Work at Lion has focused on next generation lithium Sulphur and lithium air battery chemistry. Recent results have been encouraging, including potential innovations that may apply broadly to current lithium-ion battery chemistries. Lion has now been granted three United States patents and continues research work and filing new patents to protect its discoveries and innovations.
For details of the condensed consolidated interim financial statements (the "Financial Statements") and Management's Discussion and Analysis for the nine months ended May 31, 2021 please see the Company's filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). Shareholders are encouraged to visit the Company's website at www.platinumgroupmetals.net. Shareholders may receive a hard copy of the complete Financial Statements from the Company free of charge upon request.
All amounts herein are reported in United States dollars unless otherwise specified. The Company holds cash in Canadian dollars, United States dollars and South African Rand. Changes in exchange rates may create variances in the cash holdings or results reported.
Recent Events
On April 13, 2021, representatives of the DMRE and Waterberg JV Co. completed a notarial execution of the Waterberg Mining Right. The Waterberg Mining Right has now been filed for title registration.
On March 5, 2021, the Company received notice of an appeal to the decision by the DMRE granting the Waterberg Mining Right. The notice was filed by a small group of four individual appellants from a local community. Later in April the Company received notice of two similar appeals and in May received notice of an application for an order in the High Court of South Africa to review and set aside the decision by the Minister of Environment, Forestry and Fisheries to dismiss an application for condonation for the late filing of an appeal against the Environmental Authorization granted for the Waterberg Mine on November 10, 2020. The Company believes that all requirements specified under the MPRDA have been complied with and that the DMRE correctly granted the mining right. Counsel acting for Waterberg JV Co. has filed formal rebuttals to each action. The Company continues to work in a climate of mutual respect with recognized municipal and local community leadership.
On February 5, 2021, the Company entered into an Equity Distribution Agreement with BMO Capital Markets Corp. ("BMO") to sell its common shares from time to time for up to $50.0 million in aggregate sales proceeds in "at-the-market" transactions. At February 28, 2021, the Company had sold 1,631,224 common shares at an average price of $5.10 for gross proceeds of $8.33 million. No offers or sales of common shares were made in Canada, to anyone known to be a resident of Canada or on or through the facilities of the Toronto Stock Exchange or other trading markets in Canada.
On January 28, 2021, the DMRE granted Waterberg JV Co. the Waterberg Mining Right.
On December 8, 2020, the Company closed a non-brokered private placement of 1,121,076 common shares at a price of $2.23 per share to existing major beneficial shareholder, Hosken Consolidated Investments Limited ("HCI") through its subsidiary Deepkloof Limited ("Deepkloof"), resulting in gross proceeds to the Company of $2.5 million and allowing HCI to maintain approximately a 31% interest in the Company as they held prior to the at-the-market offering completed by the Company on November 30, 2020, as described below.
On November 30, 2020, the Company completed sales of an "at-the-market" offering of common shares first announced on September 4, 2020. The offering was completed pursuant to an Equity Distribution Agreement with BMO whereby Platinum Group sold 5,440,186 common shares in the capital of the Company at an average price of $2.21 for gross proceeds of US $12.0 million. No offers or sales of common shares were made in Canada, to anyone known to be a resident of Canada or on or through the facilities of the Toronto Stock Exchange or other trading markets in Canada.
Results For The Nine Months Ended May 31, 2021
During the nine months ended May 31, 2021, the Company incurred a net loss of $8.84 million (May 31, 2020 – net loss of $5.90 million). General and administrative expenses during the period were $2.91 million (May 31, 2020 – $2.71 million). Interest expense of $3.63 million was lower in the current period (May 31, 2020 – $4.01 million) due to reduced debt levels. Gains on foreign exchange were $1.65 million (May 31, 2020 – $1.20 million loss) due to the US Dollar decreasing in value relative to the Canadian Dollar, which is the Company's functional currency. Stock based compensation expense, a non-cash item, totalled $2.77 million (May 31, 2020 – $1.14 million), which rose due to an increase in the value of the Company's shares during the period. Loss on fair value derivatives and other instruments, also a non-cash expense, was $0.61 million at May 31, 2021, versus a gain of $3.11 million in the nine months ended May 31, 2020, representing the largest period to period variance in the Company's third quarter results. At May 31, 2021, finance income consisting of interest earned and property rental fees in the period amounted to $0.07 million (May 31, 2020 – $0.13 million). Loss per share for the period amounted to $0.12 as compared to a loss of $0.10 per share for the nine months ended May 31, 2020.
Accounts receivable at May 31, 2021, totalled $0.25 million (August 31, 2020 – $0.22 million) while accounts payable and accrued liabilities amounted to $1.45 million (August 31, 2020 – $1.41 million). Accounts receivable were comprised of mainly of amounts receivable for value added taxes repayable to the Company in South Africa. Accounts payable consisted primarily of Waterberg engineering fees, accrued professional fees and regular trade payables.
Total expenditures on the Waterberg Project, before partner reimbursements, for the nine-month period were approximately $1.95 million (May 31, 2020 – $2.12 million). At May 31, 2021, $44.4 million in accumulated net costs had been capitalized to the Waterberg Project (May 31, 2020 – $34.0 million). Total expenditures on the property since inception to May 31, 2021, are approximately $78.1 million.
For more information on mineral properties, see Note 3 of the Financial Statements.
Outlook
The Company's primary business objective is to advance the Waterberg Project to development and construction. The Company continues to work closely with the DMRE, regional and local communities and their leadership on how the mine can be developed to provide optimal outcomes and best value to all stakeholders.
Detailed engineering for infrastructure and pre-construction readiness continues funded by Waterberg JV Resources Pty Ltd. The Waterberg Project engineering team is converting details from a definitive feasibility study published in September 2019 ("Waterberg DFS") into a formal cost budget estimate, with a focus on critical path elements and the first two years of construction. Roads, construction camp, power, water and project commencement are all being detailed and optimized.
The next major milestones for the Company and the Waterberg Project include further detailed work with the host communities in the area of the mine, offtake arrangements and construction financing. The Company is in discussions with several parties regarding the offtake of concentrate and detailed due diligence is underway with multiple parties for construction financing. Technical reviews are well advanced and, in some cases, complete.
The markets for platinum and palladium continue to be strong and prices are well over the Waterberg DFS sensitivity analysis upside case.
The Company's battery technology initiative through Lion with Anglo represents a new opportunity in the high-profile lithium battery research and innovation field. The investment in Lion creates a potential vertical integration with a broader industrial market development strategy to bring new technologies to market utilizing palladium and platinum. Research and development efforts by FIU on behalf of Lion continue and initial technical milestones have been achieved. Technical results from Lion's research may have application to a majority of lithium ion battery chemistries and the scope of Lion's research work is being expanded.
The Company will continue to follow government health directives in the months ahead and will make the health and safety of employees a priority. The Company plans to drive ahead with its core business objectives while carefully managing costs where possible. The health and safety of employees remains a priority.
As well as the discussions within this press release, the reader is encouraged to also see the Company's disclosure made under the heading "Risk Factors" in the Company's 2020 annual Form 20-F, which was also filed as the Company's Annual Information Form in Canada.
Qualified Person
R. Michael Jones, P.Eng., the Company's President, Chief Executive Officer and a shareholder of the Company, is a non-independent qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and is responsible for preparing the scientific and technical information contained in this news release. He has verified the data by reviewing the detailed information of the geological and engineering staff and independent qualified person reports as well as visiting the Waterberg Project site regularly.
About Platinum Group Metals Ltd. and Waterberg Project
Platinum Group Metals Ltd. is the operator of the Waterberg Project, a bulk underground palladium and platinum deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly developed with Impala Platinum Holdings Ltd., Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo"), Japan Oil, Gas and Metals National Corporation and Hanwa Co. Ltd.
On behalf of the Board of
Platinum Group Metals Ltd.
Frank R. Hallam
CFO, Corporate Secretary and Director
For further information contact:
R. Michael Jones, President
or Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net
Disclosure
The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
The recent COVID-19 pandemic and related measures taken by governments create uncertainty and may have had, and may continue to have, an adverse impact on many aspects of the Company's business, including employee health, workforce productivity and availability, travel restrictions, contractor availability, supply availability, the Company's ability to maintain its controls and procedures regarding financial and disclosure matters and the availability of capital and insurance and the costs thereof, some of which, individually or when aggregated with other impacts, may be material to the Company. On June 15, 2021, South Africa was moved to alert level 3 and later on June 28, 2021 to adjusted level 4, with the Delta variant fast becoming the dominant strain in the country. In response to uncertainty caused by the COVID-19 pandemic, the Company has implemented additional testing and monitoring protocols for its work at the Waterberg Project site and elsewhere in South Africa.
This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the application for an order of the High Court and appeal of the mining right, the applicable procedures, timeline and potential results thereof, the development of the Waterberg project and the potential benefits and results thereof, the market for PGMs, the results of the Waterberg DFS, financing and mine development of the Waterberg Project including potential commercial alternatives for mine development financing and concentrate offtake, the Waterberg Project becoming one of the largest and potentially lowest cash cost underground platinum group metals mines globally, financing and mine development of the Waterberg Project, the appeals of the Waterberg Mining Right, work with local communities, the availability of constructing financing on terms acceptable to the Company, the outcome of the due diligence review for construction financing, the development of lithium sulphur and lithium air batteries and the potential benefits of utilizing palladium and platinum therein, the commercialization of lithium sulphur batteries, the application for patent rights with respect to the use of platinum group metals in lithium batteries, the ability of the Company to continue to provide funding for Lion, the cost and potential of platinum group metals in batteries, and Lion's development of next generation battery technology, and the Company's other future plans and expectations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements as a result of various factors, including possible adverse impacts due the global outbreak of COVID-19 (as described above), the Company's inability to generate sufficient cash flow or raise sufficient additional capital to make payment on its indebtedness, and to comply with the terms of such indebtedness; additional financing requirements; the senior secured facility with the Sprott Private Resource Lending II (Collector), LP ("Sprott") entered into August 21, 2019 (the "2019 Sprott Facility" of which $11.3 million in principal is outstanding at May 31, 2021) is, and any new indebtedness may be, secured and the Company has pledged its shares of PTM RSA, and PTM RSA has pledged its shares of Waterberg JV Co. to Sprott, under the 2019 Sprott Facility, which potentially could result in the loss of the Company's interest in PTM RSA and the Waterberg Project in the event of a default under the 2019 Sprott Facility or any new secured indebtedness; the Company's history of losses and negative cash flow; the Company's ability to continue as a going concern; the Company's properties may not be brought into a state of commercial production; uncertainty of estimated production, development plans and cost estimates for the Waterberg Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; fluctuations in the relative values of the U.S. Dollar, the Rand and the Canadian Dollar; volatility in metals prices; the uncertainty of alternative funding sources for Waterberg JV Co.; the Company may become subject to the U.S. Investment Company Act; the failure of the Company or the other shareholders to fund their pro rata share of funding obligations for the Waterberg Project; any disputes or disagreements with the other shareholders of Waterberg JV Co. or Mnombo; the ability of the Company to retain its key management employees and skilled and experienced personnel; conflicts of interest; litigation or other administrative proceedings brought against the Company; actual or alleged breaches of governance processes or instances of fraud, bribery or corruption; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada and South Africa; equipment shortages and the ability of the Company to acquire necessary access rights and infrastructure for its mineral properties; environmental regulations and the ability to obtain and maintain necessary permits, including environmental authorizations and water use licences; extreme competition in the mineral exploration industry; delays in obtaining, or a failure to obtain, permits necessary for current or future operations or failures to comply with the terms of such permits; risks of doing business in South Africa, including but not limited to, labour, economic and political instability and potential changes to and failures to comply with legislation; the Company's common shares may be delisted from the NYSE American or the Toronto Stock Exchange if it cannot maintain compliance with the applicable listing requirements; and other risk factors described in the Company's most recent Form 20-F annual report, annual information form and other filings with the U.S Securities and Exchange Commission ("SEC") and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively. Proposed changes in the mineral law in South Africa if implemented as proposed would have a material adverse effect on the Company's business and potential interest in projects. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The technical and scientific information contained herein has been prepared in accordance with NI 43-101, which differs from the standards adopted by the SEC. Accordingly, the technical and scientific information contained herein, including any estimates of mineral reserves and mineral resources, may not be comparable to similar information disclosed by U.S. companies subject to the disclosure requirements of the SEC.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90372
EL DORADO, Ark., July 15, 2021 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE: SLI) (FRA: S5L), an innovative technology and lithium project development company today announced the delivery of its ‘SiFT’ lithium carbonate plant to the El Dorado Arkansas project site, located at the LANXESS South Plant facility. The SiFT Plant will be installed adjacent to and connected to the Company’s LiSTR Direct Lithium Extraction (“DLE”) pre-commercial scale demo plant. The SiFT plant is designed to take the intermediate product made by the company’s DLE process (a high purity, concentrated lithium chloride solution) and convert that into a battery-quality (or better) lithium carbonate.
The modular plant was sent as several truck-loads and has been reassembled on its purpose-built foundations. Standard Lithium and its team of engineers and operators in Arkansas, assisted by the experienced on-site team of Milam and HGA, is now reconnecting the modules, and making all utility, instrumentation, control, reagent and process-flow connections between the SiFT plant and the existing operating SLI Demo Plant. Following the connections being completed, a weatherproof structure will be installed at the site, scheduled for later this month. Once the SiFT Plant is made weatherproof, then it can be hydraulically integrated and site-specific commissioning can be completed; note that the SiFT Plant has been fully commissioned previously, and has been running successfully for several months in Vancouver. Photos of the installation process are shown below.
Figure 1: One of the SiFT lithium carbonate crystallization plant modules being lowered into position at Standard Lithium’s Demonstration Plant in El Dorado, Arkansas, USA.
https://www.globenewswire.com/NewsRoom/AttachmentNg/33b7c500-c828-4d2b-b42c-bd62a2017137
Figure 2: The final module being loaded into position, with the Company’s LiSTR DLE Plant behind. Note the climate-controlled container adjacent to the SiFT Plant, which will be used to store battery-quality lithium carbonate samples produced by the plant.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7e838c9c-5dc5-4feb-b975-57e9033ceecc
The fully automated lithium carbonate crystallization plant has been designed around the Company’s proprietary ‘SiFT’ continuous fractional crystallisation technology, which has demonstrated to produce >99.9% purity (also known as ‘three-nines’) battery-quality lithium carbonate. The crystallization plant was constructed by Saltworks Technologies Inc (see the Company’s June 6, 2020 news release). The SiFT plant has been operating for the past year at a facility in the Greater Vancouver area; processing lithium chloride produced at the Company’s Arkansas site, as well as reprocessing technical grade lithium carbonate sourced from South American brine operations into battery quality Li2CO3.
Dr. Andy Robinson, President and COO of Standard Lithium, commented, “Due to constraints imposed on our operations by the COVID-19 pandemic, we have, up until now, been running the SiFT Plant separately at a location in the Vancouver area. This work has been extremely successful, and we have produced large volumes of better-than battery quality lithium carbonate from lithium chloride concentrates made by the El Dorado Plant. We’ve also been reprocessing very large quantities of low-quality material sourced from existing South American brine producers, and have demonstrated that the SiFT technology can easily upgrade off-spec material in a single, simple step. We’re now thrilled to move the SiFT Plant to El Dorado, which was always our plan, get the plant connected and running, and then operate the only continuous, 24/7 start-to-finish brine-to-carbonate plant in North America.”
About Standard Lithium Ltd.
Standard Lithium is an innovative technology and lithium development company. The company's flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations. The company has commissioned its first-of-a-kind industrial-scale direct lithium extraction demonstration plant at Lanxess's south plant facility in southern Arkansas. The demonstration plant utilizes the company's proprietary LiSTR technology to selectively extract lithium from Lanxess's tail brine. The demonstration plant is being used for proof-of-concept and commercial feasibility studies. The scalable, environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours and greatly increases the effective recovery of lithium. The company is also pursuing the resource development of over 30,000 acres of separate brine leases located in southwestern Arkansas and approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino county, California.
Standard Lithium is jointly listed on the TSX Venture and the NYSE American Exchanges under the trading symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.
On behalf of the Board of Standard Lithium Ltd.
Robert Mintak, CEO & Director
For further information, contact Anthony Alvaro at (604) 240 4793
Twitter @standardlithium
LinkedIn https://www.linkedin.com/company/standard-lithium/
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. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
PHILADELPHIA, July 15, 2021 /PRNewswire/ —
FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, today announced Abizar "Zack" Zaki has been named Investor Relations director.
"Zack is an exceptional leader with broad experience across several areas of FMC," said Mark Douglas, FMC president and CEO. "He brings strong knowledge of the company's growth strategy and operating structure. I know he will serve as a valuable resource to our investor community."
Zaki joined FMC in 2013 as director of Strategy and Corporate Development, leading several major strategy and M&A efforts. He was named business director, Global Specialty Solutions in 2017, where he has led the company's high-growth non-crop business that serves diversified markets including structural pest control, lawn care, vegetation management and vector control. Earlier in his career, Zaki was a strategy consultant with Booz & Company and worked as an automation engineer for Honeywell. He earned his Bachelor of Science in chemical engineering from Mumbai University and his MBA from Duke University. Zaki will report to Douglas.
He assumes leadership of Investor Relations from Michael Wherley, who is leaving FMC in early August. "We thank Michael for his more than four years serving as IR director during a period of significant change and growth at FMC. We wish him well in his next career endeavor," Douglas said.
About FMC
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically without compromising safety or the environment. With approximately 6,400 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn® and Twitter®.
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the risk factors and other cautionary statements included within FMC's 2020 Form 10-K filed with the SEC as well as other SEC filings and public communications. FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. FMC undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.
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SOURCE FMC Corporation
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THUNDER BAY, ON / ACCESSWIRE / July 15, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic"), is pleased to announce a non-brokered private placement offering (the "Private Placement") for aggregate gross proceeds of $1,450,000 in units of the Company (the "Units") at a price of $0.50 per Unit. Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, has indicated his intention to subscribe for the entirety of the Private Placement.
Each Unit shall be comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common (a "Warrant Share") at an exercise price equal to $0.75 at any time up to 36 months from closing of the Private Placement.
The Company intends to use the gross proceeds from the sale of Units for drilling and exploration on the Golden Promise Gold Properties, located in the central Newfoundland gold belt and general working capital.
The Common Shares and the Warrant Shares to be issued under the Offering have a hold period of four months and one day closing of the Offering.
In connection with the Private Placement, the Company will pay a finder's fee in cash and finder's warrants in accordance with the policies of the TSX Venture Exchange.
The issuance of the Units and payment of the finder's fee is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
Investor Relations:
Andrew Job
1-416-628-1560
IR@GreatAtlanticResources.com
Office Line 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
Forward-looking statements: This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Great Atlantic Resource Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/655642/Great-Atlantic-Announces-145-Million-Private-Placement-by-Mr-Eric-Sprott
Calgary, Alberta–(Newsfile Corp. – July 15, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce a non-brokered private placement offering of units (the "Units") for aggregate gross proceeds of up to CAD$2,500,000 (the "Offering").
The Offering shall consist of the sale of up to 7,142,857 Units at a price of CAD$0.35 per Unit. Each Unit shall be comprised of one (1) common share in the capital of the Company ("Common Shares") and one quarter (1/4) of one (1) Common Share purchase warrant (the " Warrants"). One (1) full Warrant, together with CAD$0.45, will entitle the holder thereof to acquire one (1) additional Common Share of the Company for a period of twelve (12) months from the date of issuance. The Warrants will not be listed on the TSX Venture Exchange (the "TSXV").
The proceeds from the Offering will be used (i) to fund and develop the pilot plant at the Company's Record Ridge magnesium and nickel mine located in Rossland, British Columbia; (ii) to support the Company's exploration at its Midnight Gold claim located in the Rossland Gold Camp in British Columbia; and (iii) for general working capital purposes.
Finder's fees may be payable to qualified agents in appropriate circumstances in connection with the Offering. The Offering is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance of the TSXV. The securities issued under the Offering will be subject to a hold period in Canada expiring four months and one day from each closing date of the Offering.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@whyresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company 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 within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90306
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