Northern Dynasty Minerals Ltd. (TSX: NDM) (NYSE: NAK) ("Northern Dynasty" or "Company") reported that the U.S. Army Corps of Engineers ("USACE") has accepted Pebble Limited The Partnership filed an administrative appeal request regarding the process of the Pebble project in Southwest Alaska and the negative "Record of Decisions" ("ROD") issued by the Alaska region in November 2020
On January 19, 2021, the American subsidiary Pebble Limited Partnership ("Pebble Partnership"), a 100% owned subsidiary of Northern Dynasty, filed a request for appeal ("RFA") with the Hawaii-based engineers of the USACE Pacific Division. In a letter dated February 24, USACE confirmed that the Pebble Partnership’s RFA was “complete and compliant with the appeal criteria.”
The USACE Alaska region issued a final environmental impact statement ("EIS") for the proposed copper-gold-molybdenum-silver-rhenium mine in July 2020, and found that Pebble would not "produce any impact on fish populations or fisheries in southwestern Alaska." Measured impact.” Despite this, USACE issued an ROD on November 25, 2020, rejecting Pebble’s key permit under the Clean Water Act, citing its “compensatory mitigation plan” (“CMP”) Non-compliance and the project is not in the "public interest."
The Northern Dynasty believes that key aspects of USACE’s ROD and licensing decisions-including its "severely degraded" findings, "public interest review" findings, and perfunctory rejection of Pebble CMP-are against the law. This is in Alaska. It is unprecedented, and it has not received the support of the US government at all. Administrative records, including the Pebble project EIS.
The full RFA of Pebble Partnership can be viewed at: https://northerndynastyminerals.com/site/assets/files/4888/plp-request-for-appeal-poa-2017-00271-jan-19-2021.pdf
The USACE guidelines state that the administrative appeal process should end within 90 days, but it may be extended in some cases.
About Beichao Mining Co., Ltd.
Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada. Northern Dynasty’s main assets are owned through its wholly-owned US subsidiary Pebble Limited Partnership ("PLP") in Alaska, which is a 100% interest in 2,402 contiguous mining areas in southwest Alaska, including the 200-mile Pebble deposit 125 miles from Anchorage and Bristol Bay. PLP is a supporter of the Pebble project, which aims to develop one of the most important mineral resources in the world.
For more details about the Northern Dynasty and Pebble projects, please visit the company's website at www.northerndynastyminerals.com or call (604) 684-6365 or call the Investor Services Department at 1-800-667-2114 in North America. View Canadian public documents on www.sedar.com and U.S. public documents on www.sec.gov.
Ronald W. Thiessen President and Chief Executive Officer
US media contact: Dan Gagnier Gagnier Communications (646) 569-5897
Forward-looking information and other warning factors
This press release includes certain statements that may be considered "forward-looking statements" under applicable laws. Except for statements of historical facts, all statements in this press release concerning the licensing, development and production of the Pebble project are forward-looking statements. These statements include (i) the mine plan for the Pebble project, (ii) the social integration of the Pebble project with the Bristol Bay area and its benefits to Alaska, (iii) political and public support for the permitting process, and (iv) success Appeal negative decision records and ensure the ability of the U.S. Army Corps of Engineers to issue positive decision records and the ability of the Pebble Project to obtain state permits, (v) appropriate scale and cancellation-the risks of the Pebble project, (vi) the design and operation of the Pebble project mine plan Parameters, (vii) the exploration potential of the Pebble project, (viii) future demand for copper and gold, (ix) the Pebble project, and (x) NDM’s ability to develop the Pebble project and become a leading copper, gold and molybdenum producer and schedule. Although NDM believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, such statements should not be construed in any way as guarantees that the Pebble Project will obtain all necessary government permits, determine the commercial viability of the Pebble Project, or develop Pebble project. The assumptions used by NDM to formulate forward-looking statements include the following assumptions: (i) the Pebble project will obtain all necessary environmental and other permits and all land use and other permits without undue delay, and (ii) the development and research of the Pebble project will It is positive, (iii) NDM's estimate of mineral resources will not change, (iv) NDM will be able to determine the commercial feasibility of the Pebble project, and (v) NDM will be able to obtain financing projects needed to develop Pebble. The possibility of future mining of the Pebble project faces a large number of risks and needs to achieve a number of technical, economic and legal goals, including (i) obtaining necessary mining and construction permits, licenses and approvals without delay, including immediate objections or due to third parties Changes in government policy, (ii) completion of the mining plan for the Pebble project, (iii) completion of a feasibility study to prove that any Pebble project’s mineral resources can be economically mined, (iv)) completion of all necessary works for mining and processing facilities, (v) ) NDM cannot ensure that partners develop the Pebble project, and (vi) NDM receives a large amount of additional funds to fund these goals and fund mine construction. NDM may not be able to obtain the financing on acceptable terms or on any terms. NDM is also affected by specific risks inherent in mining operations and general economic and commercial conditions, such as the current uncertainty associated with COVID-19.
The National Environmental Policy Act's environmental impact statement process requires a comprehensive "alternative assessment" to consider a wide range of development alternatives. The final project design and operating parameters of the Pebble project and related infrastructure may be very different from those currently envisaged. Therefore, the company will continue to consider various development plans, and the final project design has not yet been selected.
For more information about the company, investors should review the company’s documents filed with the US Securities and Exchange Commission and its home jurisdiction documents available on www.sedar.com
Source: Beichao Mining Co., Ltd.
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White Metal Resources Corp. (TSX: WHM) ("White Metal" or "the Company") announced after its press releases on November 23, 2021 and December 9, 2021 that the company has closed Its non-brokered private placement of tradable shares and non-tradable shares, with a total proceeds of US$1,749,990 ("financing"). The company pointed out that due to strong investor interest, the private placement was significantly over-subscribed in the first issuance of $600,000 announced on November 23, 2021.
The company has issued 16,500,000 tradable shares ("FT Shares") at a price of US$0.10 per FT share, with a total proceeds of US$1,650,000. According to the provisions of the Income Tax Act (Canada), tradable shares entitle holders to the tax incentives applicable to tradable shares.
The company also issued 1,111,000 non-tradable units ("units") at a price of $0.09 per unit, with a total revenue of $99,990. Each unit consists of one common stock and one-half (1/2) of common stock purchase warrants. Each warrant can be purchased at a price of US$0.18 within 24 months from the date of issuance. Of the company’s common stock.
In terms of financing, the company has paid cash finder fees in accordance with the policies of the Toronto Stock Exchange’s Growth Enterprise Market, totaling US$67,800, and has issued 660,000 finder warrants, each of which can be issued on its own account. USD 0.10 within 12 months from the date of
All securities issued under the financing will be held for 4 months.
The financing was carried out by the company’s three insiders subscribing for $198,000-1,980,000 outstanding shares-part of the placement is a "related party transaction", the term is defined under Multilateral Instrument 61-101-special protection for minority securities holder transactions ( "MI 61-101"). The company relies on the formal valuation set out in MI 61-101 and the exemption required for minority shareholder approval. The company exempts the transaction from MI 61-101’s formal valuation requirements as the fair market value of the transaction in accordance with MI 61-101 Article 5.5(a) and (b), as long as it involves stakeholders and does not exceed 25% of the company’s market value . In addition, in accordance with MI 61-101 Article 5.7(1)(a) and (b), the company exempts minority shareholders from approval because, in addition to the above, (i) the fair market value or The amount received exceeds US$2.5 million, (ii) the company has one or more independent directors who are not employees of the company, and (iii) all independent directors have approved the transaction. Since insider participation had not been established when the financing was announced, no major change report was submitted 21 days before the end of the financing.
The proceeds from the financing will be used to advance White Metal's various exploration projects and as working capital.
In addition, the company announced that it has changed its auditor from De Visser Gray LLP Chartered Professional Accountant ("Former Auditor") to Wasser Ramsay Chartered Accountant (" Successor Auditor"). At the request of the company, the original auditor resigned from the position of auditor of the company, effective from December 7, 2021, the board of directors of the company appointed the successor auditor as the company’s auditor, and he will take office on December 7, 2021 To the next company annual meeting.
The former auditor has no amendment opinions on the audit reports of the company from the last two fiscal years to the date of the former auditor's resignation. There is no “reportable event” between the company and the former auditor (this term is defined in National Instrument 51-102: Continuous Disclosure Obligation (“NI 51-102”)).
According to NI 51-102, the auditor change notice and the letters required by the former and successor auditors have been submitted to SEDAR.
About White Metal Resources Corporation
White Metal Resources Corp. is a junior exploration company exploring in Canada and Southern Africa. The company's two main assets are the flagship tower stock gold project in Thunder Bay, Ontario, Canada, and the Okohongo copper and silver project in Namibia, Africa. For more information about the company, please visit www.whitemetalres.com.
Representative board
Michael Stares President and CEO White Metal Resources Corp. 684 Squier Street Thunder Bay, ON P7B 4A8 Tel: +1 (807) 358-2420
Nancy Massicotte Investor Relations White Metal Resources Corp. Tel: +1 (604) 507-3377 TF: +1 (866) 503-3377 Email: ir@whitemetalres.com
Thomas Do Investor Relations Manager CHF Capital Markets Tel: +1 (416) 868-1079 x 232 Email: thomas@chfir.com
TSX VENTURE EXCHANGE has not been reviewed and does not assume any responsibility for the adequacy or accuracy of this press release.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information based on management assumptions, forecasts of future results, and undetermined amount estimates. Any statement that expresses forecasts, expectations, beliefs, plans, forecasts, goals, assumptions, or future events or performance is not a statement of historical facts, and may be a "forward-looking statement."
Forward-looking statements are subject to various risks and uncertainties, which may cause actual events or results to be different from those reflected in forward-looking statements, including but not limited to: risks associated with failure to obtain sufficient financing in a timely manner and under acceptable conditions Under; risks related to the outcome of legal proceedings; political and regulatory risks related to mining and exploration; risks related to maintaining stock exchange listings; risks related to environmental supervision and liability; exploration or development activities or completion of feasibility studies Possibility; uncertainty in profitability; risks and uncertainties related to the interpretation of drilling results, geology, grade and continuity of the deposit; inherent uncertainties in production and cost estimates, and the possibility of unexpected costs and expenses Related risks; the results of pre-feasibility studies and feasibility studies, and the possibility that future exploration, development or mining results are inconsistent with the company’s expectations; risks related to fluctuations in the price of gold and other commodities; and the company’s prospects and assets For other risks and uncertainties related to the business, please refer to other parts of the company's disclosure records for details. If one or more of these risks and uncertainties become reality, or the basic assumptions prove to be incorrect, actual results may differ materially from the results described in the forward-looking statements. Investors are cautioned not to attribute excessive certainty to forward-looking statements. These forward-looking statements were made on the date of this agreement, and the company does not undertake any obligation to update or modify them to reflect new events or circumstances. Actual events or results may differ materially from the company's expectations or forecasts.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107730
Newsfile News provided by QuoteMedia
First Quantum Minerals Ltd. ("FQM" or "Company") (TSX code: FM) announced that it will hold Virtual Capital Markets Day on January 18, 2022.
This virtual event will feature a speech by Chief Operating Officer Tristan Pascall and senior executives, outlining the company's strategy, three-year guidance, organic growth profile, ESG initiatives and capital allocation methods.
The three-hour virtual capital market activity will start at 9:00 US Eastern Standard Time (14:00 British Summer Time). The listen-only webcast will be available on First Quantum's website www.first-quantum.com. For those who wish to participate in the Q&A session, please use the details below to dial in to the event.
Capital market day dial-in details: North America toll free: 1-800-898-3989 Toronto local and international calls: 416-406-0743 UK toll free: 00-80042228835 Password: 5501767#
The presentation slides will be available for download from the First Quantum website on January 18, 2022 at 8:30 Eastern Standard Time (13:30 British Summer Time).
A replay will be provided within 24 hours after the demonstration ends, and the link is the same as the webcast. The presentation will also be archived on First Quantum's website.
For more information, please visit our website www.first-quantum.com or contact:
Bonita To, Investor Relations Director (416) 361-3400 Toll Free: 1 (888) 688-6577 Email: info@fqml.com
Certain statements and information provided in the warning statement on forward-looking information, including all statements that are not historical facts, will contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements may include estimates, forecasts and statements regarding the company’s production and sales expectations, as well as the expected completion time of corporate project development and Cobre Panama’s post-completion construction activities, and may be affected by the ore’s future production levels, the possibility of production interruptions, The COVID-19 global pandemic caused potential production, operations, labor or marketing interruptions, capital expenditures and mine production costs, the results of mining permits, other required permits, and the results of legal proceedings involving the company, related to copper, gold, nickel, Information on the future prices of silver, iron, cobalt, pyrite, zinc and sulfuric acid, estimated mineral reserves and mineral resources, First Quantum’s exploration and development plans, estimated future costs, exploration and development capital requirements, the company’s hedging policy, And strategy. Usually, but not always, forward-looking statements or information can be used such as "plan", "expected" or "unexpected", "anticipated", "budget", "scheduled", "estimated", "forecast", "Intend", "anticipate" or "unexpected" or "believe" or variations of such words or statements, certain actions, events or results "may", "may", "will", "may" or "Will" be taken, occurred, or realized.
Regarding the forward-looking statements and information provided in the event, the company has made many assumptions, including assumptions about the continuous production of all operating facilities, copper, gold, nickel, silver, iron, cobalt, pyrite prices, zinc and sulfuric acid , Expected costs and expenditures, and the ability to achieve company goals. The nature of forward-looking statements and information is based on assumptions and involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements or industry results to be materially different from any future results, performance or performance. The achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, future production and costs, temporary or permanent closure of uneconomic businesses, the cost of inputs such as oil, electricity and sulfur, political stability in Zambia, Peru, Mauritania, Finland, Spain, Turkey, Panama, Argentina Severe weather conditions, labor disruptions, potential social and environmental challenges (including the effects of climate change), electricity supply, mechanical failure, water supply, components and supplies in Australia, Zambia, Finland, Spain, Turkey, Mauritania, Australia and Panama Procurement and delivery to operations, production of substandard materials, and events that usually affect global economic, political, and social stability.
For more information about the risks, uncertainties and other factors associated with forward-looking statements and information, please refer to the company's annual information sheet. Although the company attempts to identify factors that may cause actual actions, events, or results to be materially different from those disclosed in forward-looking statements or information, there may be other factors that cause actual results, performance, achievements or events to be unexpected, estimated or Intend. In addition, many of these factors are beyond the control of First Quantum. Therefore, readers and attendees should not place undue reliance on forward-looking statements or information. Unless required by law, the company does not assume any obligation to republish or update forward-looking statements or information due to new information or events after the date of this agreement. All forward-looking statements and information provided in the event are subject to this warning statement.
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Benton Resources Inc. (TSX: BEX) ("Benton" or "Company") is pleased to provide a review of the entire 2021 event and an update of its strategic goals for 2022, aiming to unlock value for shareholders in the coming year. Not only is 2021 fruitful from an exploration perspective, it is also fruitful from a few key developments in companies that Benton holds strategic investments. The company believes that the value of these measures has not yet been fully realized. These achievements will be described more fully below.
In 2019, Benton successfully obtained an agreement to acquire the Escape Lake and Thunder Bay North PGE-Copper-Nickel properties located approximately 50 kilometers northeast of Thunder Bay, Ontario. The company subsequently selected all of its rights under these agreements to Clean Air Metals Inc. ("Clean Air"), and the asset is now known as the Thunder Bay North Project ("TBN"). In return, the company received and still retains 24.6 million shares of Clean Air common stock (approximately 14.7%) and holds 0.5% of the Escape Lake part of the project. Net smelter return royalties ("NSR") and 0.5% NSR is derived from the production of any mineral claims, including the original Thunder Bay North portion of projects that were not previously granted NSR.
Since assuming the right to acquire these assets by Benton, Clean Air has actively promoted the TBN project, completed a large number of boreholes, and added them to the borehole database, which now includes more than 800 boreholes. Clean Air released an updated mineral resource estimate ("MRE") on TBN in November 2021, which includes 14,553,324 tons of indicated mineral resources with an average grade of 8.12 g/ton PtEq, which includes 3,798,581 ounces of PtEq and inferred mineral resources The volume is 58,077 tons, and the average grade is 4.07 g/ton PtEq, containing 1,057,646 ounces of PtEq.
In addition, Clean Air Company completed the preliminary economic assessment ("PEA") in early December 2021. Highlights include:
Clean Air remains focused on unlocking the additional potential of TBN projects through further exploration to increase mineral resources and optimizing its technical plans. The goal is to conduct a pre-feasibility study in 2023.
The company will continue to brief shareholders on the progress of Clean Air in TBN, and is currently evaluating the opportunity to bring value to shareholders from this exciting equity and NSR asset, and there is significant room for improvement.
Readers are encouraged to visit www.cleanairmetals.ca for complete technical details about MRE and PEA.
Benton Resources Inc.-Sokoman Minerals Corp. Strategic Exploration Alliance
In 2021, the company formed a strategic exploration alliance ("alliance") with Sokoman Minerals Corp., a Newfoundland exploration company. The alliance launched and obtained three large-scale early exploration projects in Newfoundland with great potential for new discoveries: Golden Hope, Kepenkeck and Gray River. In addition, in May 2021, the alliance attracted a well-known and respected resource investor, Mr. Eric Sprott, to invest US$2 million in Benton.
During Golden Hope’s 2021 summer prospecting gold exploration program, the alliance discovered a group of lithium-bearing pegmatite veins, now named Kraken pegmatite oil field, of which two of the three initial samples returned grades of 1.95% Li2O and 0.49% Li2O. This is believed to be the first significant lithium mineralization discovered on the island of Newfoundland. In the fall of 2021, the alliance carried out a multi-stage exploration, surveying and sampling plan in an area of 0.85 km x 2.2 km, and further confirmed this discovery through many analyses. Among them, the lithium value is greater than 1% Li2O, and the best sample grade is 2.37% Li2O. The test results of the final stage of exploration are still awaiting. The alliance has now completed detailed geological mapping and high-resolution drone surveys, including images, lidar (light detection and ranging) to assist in mapping and positioning the dam system. The alliance has also completed a 5,709 line-kilometer helicopter airborne high-resolution aerial magnetic and matrix digital VLF-EM survey flown by Terraquest Ltd., and is currently processing the final data. These investigations will enhance our understanding of the tectonic/lithological environment and help identify extensions of gold-bearing structures, as well as any unidentified structures, including those that may be related to lithium-bearing pegmatites.
After receiving all the data accumulated in the second half of 2021 (including unfinished sample analysis), it will be compiled and interpreted, with the goal of conducting a preliminary drilling plan on the Kraken dams as soon as possible in 2022.
The Alliance identified and discovered high-grade gold in a large 10-km long quartz/silica body. The gold value of historical grab samples and recent grab samples (see the company's press release issued on September 2, 2021) ranges from 50 ppb Au to 225 g/t Au. In October 2021, the alliance completed a 5-hole, 1,026-meter diamond drilling program, which is distributed over the 4 km strike length of the silica body. A total of 643 core samples were cut and sent for testing. Among them, 13 “super-hurry” conducted Au analysis to confirm the existence of gold in the system; among them, the price of 6 gold recovered from 1.34 g/ton to 37.64 g/ton. Testing of the remaining 630 samples is in progress.
The alliance is planning an aggressive spring-summer 2022 program to drill for silica bodies.
Although the Kepenkeck project is in the early stages of the exploration cycle, it has shown great potential. So far, the work done by the alliance is limited, but anomalous gold with a gold content of up to 5.8 g/ton has been found in bedrock and boulders. In addition, the coalition recently discovered high-grade uranium in five samples collected from black topsoil and sandy radioactive areas along the expected contact points between the granite and the sedimentary unit. All five samples contained significant amounts of uranium, with uranium grades between 0.06% and 1.86% U3O8. The two companies are planning follow-up work on gold and are currently conducting a 1.0 square kilometer soil survey of the newly discovered uranium.
Benton continues to advance the Far Lake Copper Project located 80 kilometers west of Thunder Bay, Ontario. The company has identified a large copper system in the first two stages of its diamond drilling and is now planning to further explore the project. The third stage of drilling is planned to begin in early 2022. Benton currently obtains a 70% interest in the project from White Metal Resources Corp. (see company news released on May 20, 2020) and will inform shareholders of the schedule of upcoming events.
In November 2021, the company selected the KM 67 volcanic large-scale sulfide (VMS) base metal and gold project (the "project") in central Newfoundland. The company acquired the project because the convincing data compiled by the selector showed the potential for the discovery of a large number of VMS and gold mines in the property. The historical work of the project has identified large-scale VMS boulders with lead + zinc content as high as 37.8%, as well as other boulders with 13.56% copper + lead + zinc (Cu-Pb-Zn) and 8.76% Cu+Pb+Zn analyzed. In addition, the property has quartz boulders graded up to 7.1 g/ton of gold and historical soil samples, showing geochemical highs of 1,870 parts per billion (ppb), 1,421 ppb, 1,360 ppb, 300 ppb, and 279 ppb gold. The company sees this as an important addition to its project portfolio, and Benton plans to complete an aerial survey followed by known targets for diamond drilling and any new potential targets outlined in the company's upcoming exploration plan.
Starr Gold-Silver project (based on the option of Metallica Metals Corp.)
Metallica Metals Corp. has obtained a 70% interest in the Starr Gold-Silver project (formerly known as Benton's Saganaga project) in the Thunder Bay mining area by paying certain cash and shares to Benton and completing the promise of exploration work. Cash and stock payments and the option of further work commitments to earn the remaining 30% interest (for details, please refer to the Benton press release dated August 11, 2020).
Earlier this month, Metallica reported the analysis results of several drill holes. The bright spot came from the STR21-004 hole, which intersects with 4.1 g/t Au over 14.2 m, including 5.1 g/t Au over 11.0 m, 13.5 g /t Au exceeds 3.6 m, and 25.2 g/t Au exceeds 1.9 m. It is expected that there will be more analysis results soon, and 18 diamond drill holes have been completed for the entire property. To date, 14 holes have been drilled in the Starr and Powell areas in the central part of the property, and the other four holes have been completed in a previously undrilled area 7 kilometers northeast of the property, which contains high-grade grabs and surface soil samples. Further drilling will be carried out in early 2022.
Benton currently holds 2.507 million shares of Metallica and will keep shareholders informed of Metallica's progress.
Panama Gold Project (according to the option of San Antonio Gold Company)
At the end of 2019, Benton signed an option agreement with St. Anthony Gold Corp. (“St. Anthony”) (formerly Maxtech Ventures Inc.), in which St. Anthony has the option to acquire 100% of the company’s Panamanian equity in Ontario The gold project in the Red Lake mining area is located near the recent and important Dixie gold mine discovery of Great Bear Resources Ltd St. Anthony, which can fulfill various cash (or share) payment and work commitment obligations. St. Anthony is currently earning its initial 50% interest and has granted the required payment (cash or stock) of USD 100,000 through the issuance of 808,375 shares of St. Anthony common stock to Benton at a 50% interest level (the work commitment is under review Obligation).
Leading gold companies and joint ventures are increasing their interest in the Panama and Dixie project areas, and these companies and joint ventures are working to protect nearby and neighboring assets. Recently, Kenorland Minerals Ltd. selected Barrick Gold Corp for its project next to the Panama project. More importantly, the company believes that Kinross Gold Corporation’s US$1.8 billion tender offer to acquire Great Bear Resources Ltd. on December 8, 2021 will undoubtedly promote activities and interest in this important mining jurisdiction.
Benton currently holds approximately 1,725,000 shares of St. Anthony stock and will keep shareholders informed of their progress.
Baril Lake West Project (the option of Rio Tinto Exploration Company of Canada)
Benton has just received a US$25,000 third-anniversary option payment for the Baril Lake West project from option holder Rio Tinto Exploration Canada ("RTEC") (see the company's press release on January 2, 2019). Baril Lake West is located about 4 kilometers west of the Bark Lake project, which is 100% owned by Benton, next to RTEC’s Baril project. In this project, RTEC discovered an important mineralization grade of 4.78% and 0.43% Cu ( Ontario ENDM assessment document: 200000017073). These projects are about 100 kilometers west of the main crustal-scale, east-west Quetico fault, and the Escape Lake and TBN projects held by Clean Air Metals Inc. are located in the fault. Although the Baril West and Bark Lake projects are at an early stage in nature, the company believes that they may include a magma pipeline system that can accommodate Cu-Ni-PGE.
Benton President and CEO Stephen Stares said: "I firmly believe that this will be a year for Benton and its shareholders to transform. We have provided sufficient funds to achieve all current goals, and we have several good opportunities and projects to Proceed in 2022. With the increasing demand for other key metals such as lithium and uranium, and the strong prospects for gold, copper and platinum group metals, Benton is in a good position in many ways in the exciting year ahead."
John R. Sullivan, B.Sc, PGeo., consulting geologist and independent director of Benton, serves as a qualified person as defined in NI 43-101 and is responsible for disclosing the scientific and technical information contained in this press release.
Representing the board of directors of Benton Resources Inc.,
"Stephen Stares" Stephen Stares, President
Benton Resources Inc. is a well-funded mineral exploration company listed on the Growth Enterprise Market of the Toronto Stock Exchange under the symbol BEX. Following the project generation business model, Benton has a diversified and promising asset portfolio, including gold, silver, nickel, copper, platinum group elements and most recently lithium assets. In addition, it currently holds substantial stakes in other mining companies that are advancing high-quality assets. Whenever possible, BEX will retain net smelter royalties (NSR) with potential long-term cash flow.
Benton also recently established a 50/50 strategic alliance with Sokoman Minerals through three large joint venture properties under exploration, including Grey River, Golden Hope and Kepenkeck in Newfoundland.
For more information, please contact:
Stephen Stares, President and Chief Executive Officer Phone: 807-475-7474 Email: sstares@bentonresources.ca
CHF Capital Markets Cathy Hume, CEO Tel: 416-868-1079 x251 Email: cathy@chfir.com
Website: www.bentonresources.ca Twitter: @BentonResources Facebook: @BentonResourcesBEX
TSX VENTURE EXCHANGE has not been reviewed and does not assume any responsibility for the adequacy or accuracy of this press release.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information based on management assumptions, forecasts of future results, and undetermined amount estimates. Any statement that expresses forecasts, expectations, beliefs, plans, forecasts, goals, assumptions, or future events or performance is not a statement of historical facts, and may be a "forward-looking statement."
Forward-looking statements are subject to various risks and uncertainties, which may cause actual events or results to be different from those reflected in forward-looking statements, including but not limited to: risks associated with failure to obtain sufficient financing in a timely manner and under acceptable conditions Under; risks related to the outcome of legal proceedings; political and regulatory risks related to mining and exploration; risks related to maintaining stock exchange listings; risks related to environmental supervision and liability; exploration or development activities or completion of feasibility studies Possibility; uncertainty in profitability; risks and uncertainties related to the interpretation of drilling results, geology, grade and continuity of the deposit; inherent uncertainties in production and cost estimates, and the possibility of unexpected costs and expenses Related risks; the results of pre-feasibility studies and feasibility studies, and the possibility that future exploration, development or mining results are inconsistent with the company’s expectations; risks related to fluctuations in the price of gold and other commodities; and the company’s prospects and assets For other risks and uncertainties related to the business, please refer to other parts of the company's disclosure records for details. If one or more of these risks and uncertainties become reality, or the basic assumptions prove to be incorrect, actual results may differ materially from the results described in the forward-looking statements. Investors are cautioned not to attribute excessive certainty to forward-looking statements. These forward-looking statements were made on the date of this article, and the company does not undertake any obligation to update or modify them to reflect new events or circumstances. Actual events or results may differ materially from the company's expectations or forecasts.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107662
Newsfile News provided by QuoteMedia
Hudbay Minerals Inc. ("Hudbay" or "Company") (TSX, NYSE: HBM) today announced National Instrument 43-101 ("NI 43-101") on the recently discovered copper world deposit located nearby. The preliminary mineral resources estimate of the company’s Rosemont copper mine project in Arizona. The 100% owned Copper World project is close to the 100% owned Rosemont deposit, and the mineralization is closer to the surface than Rosemont. The Copper World project consists of seven deposits extending over 7 kilometers, including Bolsa, Broad Top Butte, Copper World, Peach, Elgin, South Limb and North Limb.
"As the exploration team successfully discovered several high-quality deposits through an extensive drilling program this year, the initial resources of our Copper World project are larger than we expected at this stage, and the level of geological confidence is also higher," said President Peter Kukielski and Chief Executive Officer. Executive officer. "Copper World’s indicated and inferred resources include important high-grade components located near the surface, which may become part of attractive low-cost copper mining operations mainly located on private land. The world of copper metallurgical testing and mineralogical research is very Advanced, we look forward to issuing a preliminary economic assessment in the first half of 2022."
"We are very encouraged by Copper World's preliminary resource estimates, where we have seven meaningful deposits with a relatively low divestiture rate. This project may become an exciting business for our Arizona business." Andre Lauzon, senior vice president, said the president and chief operating officer. "If the world of copper is developed, it will produce the copper needed for renewable energy and electric vehicles in a sustainable and socially responsible manner, thereby supporting U.S. efforts to reduce greenhouse gas emissions. In addition, it will create a lot of direct and indirect in the U.S. The area. There is still potential for further copper discovery in this area, and we look forward to continuing the exploration and permitting process in 2022."
Extensive drilling plans lead to large resource estimates
In October 2020, Hudbay began to condemn the company's patented private land ownership in Copper World and exploration and drilling, and after encouraging early results, Hudbay expanded its exploration and drilling program. The initial drilling results were announced in March 2021 and included four deposits that may become viable open-pit mining operations. Since then, Hudbay's exploration program at Copper World has continued to define and expand seven deposits that contain 7 kilometers of shallow copper oxide and copper sulfide mineralization. These deposits are located in and connected to the northwestern part of the Rosemont deposit, mainly on private land mining rights wholly-owned by Hudbay (see the floor plan in Figure 1). Mineralization includes skarn and porphyry copper sulfides, and regional faults known as backbone faults along the west side of the Rosemont, Bolsa, and Broad Top Butte deposits have significant oxidizing components (see Figure 2).
Based on the analysis results compiled and verified as of October 13, 2021, Table 1 below summarizes the initial mineral resource estimates of the Copper World deposit. Mineral resources are shown with reference to the potential processing methods of existing sulfide and oxide minerals.
Table 1: Estimated Global Mineral Resources of the Copper World Project as of December 1, 2021
Note: 1 The estimation of mineral resources follows the CIM definition. Mineral resources that are not mineral reserves have not shown economic viability. 2 Mineral resources are reported within the economic range defined by the pit shell optimization algorithm, and the selective mining unit is assumed to be 50x50x50 feet. Assuming that operating costs are adjusted and updated from the 2017 Rosemount Feasibility Study, the pit shell is defined by a revenue factor of 1.0. 3 Long-term metal prices of US$3.45 per pound of copper, US$20.00 per ounce of silver and US$11.00 per pound of molybdenum are used to estimate mineral resources. 4 Metal recovery rate estimates assume that the mineralization will be processed in a series of facilities, including copper and molybdenum flotation and heap and/or raw ore leaching pads, followed by solvent extraction and electrolysis. 5 CuT stands for total copper grade. 6 CuSS stands for the copper grade in the oxide. 7 The specific gravity measurement value is estimated based on the core box weight verified by industry standard laboratory measurements.
High grade and close to the surface
The Copper World deposit contains higher grade mineralization, which usually starts at or very close to the surface. This is particularly evident in the Peach-Elgin, Broad Top Butte, and Bolsa deposits. In these deposits, in the first few years of mining, it is possible to extract a large number of high-grade deposits with minimal waste stripping (see Figure 3). Table 2 below shows the higher-grade, near-surface portion of the copper world's global mineral resource estimate.
Table 2: Estimates of high-grade mineral resources of the Copper World Project as of December 1, 2021
Note: 1 The mineral resource estimates in this Table 2 are defined by the income factor of 0.36. Lower income factors usually indicate the best mining sequence and highlight the mineralization that is likely to be mined early in the mine’s life to maximize operational value. 2 The higher-grade mineral resources shown in Table 2 above are included in the global mineral resource estimates shown in Table 1.
Copper World's resource estimates include drilling completed since the last exploration update on September 22, 2021. Recent drilling activities have focused on filling the drilling gap between the Bolsa and Rosemont deposits and successfully continued to portray higher grade mineralization. The drilling clearance has now been reduced from 1,500 feet to 300 feet, and the drilling has extended the Bolsa deposit to the south. As described below, the four drilling rigs continue to rotate on site to perform infill drilling and support future economic research.
Synergy between Copper World and Rosemont
On March 30, 2017, Rosemount’s NI 43-101 Technical Report Feasibility Study ("2017 Feasibility Study") used approximately 33 million tons of inferred mineral resources in the resource pit shell that was considered waste. In this study, these tons were calculated as prestripping because there were no mineralization intersections available at the time (see Figure 2 for how close the Bolsa deposit is to the Rosemont deposit). Any ability to convert Bolsa mineral resources into reserves is expected to reduce the waste from Rosemont mining, thereby reducing the cost and energy consumption per ton of ore mined. It is expected that as Hudbay continues to close the drilling gap between Bolsa and Rosemont, additional synergies will be identified.
The Rosemont deposit also contains oxide mineralization that was previously classified as waste. These oxide mineralizations may be processed together with Copper World's oxide mineralization, further reducing the cost and energy consumption per ton of ore mined at Rosemont.
The preliminary economic assessment in the first half of 2022 is progressing smoothly
Copper World's technical research is progressing well, and the results will be included in the preliminary economic assessment ("PEA"), considering the development of the Copper World deposit together with the Rosemont deposit. The company expects to publish the PEA results in the NI 43-101 technical report in the first half of 2022. It is expected that PEA will also reflect preliminary expectations of potential synergies between Copper World and Rosemont.
The Rosemont deposit is one of the best undeveloped copper projects in the world. The proven and possible mineral reserves are 537 million tons, and the copper content is 0.45%. In addition, the measured and indicated mineral resources (excluding reserves) are 536 million tons, with a copper content of 0.29%. Hudbay also completed a review of the Rosemont resource model in the 2017 feasibility study, which is based on the knowledge gained from recent shallow drilling conducted at Copper World, especially in Bolsa, as described above. The goal is to investigate opportunities to reduce some of the hierarchical smoothing inherent in the resource modeling method used by Rosemont in 2017.
Private land operation permit is in progress
Hudbay owns approximately 4,500 acres of private land and patented mining rights to support businesses that are carried out entirely on private land. In October, after applying for the MLRP in June 2021, Hudbay was approved by the Arizona Mine Inspector's Copper World Mine Land Reclamation Plan ("MLRP"). The company’s private land represents the first step in the state-level private land management licensing process.
Aquifer protection permits and air quality permits are key national-level permits required for private land operations. They are expected to be advanced in 2022, awaiting active economic research by Copper World. Hudbay has previously obtained Rosemont aquifer protection and air quality permits, which have been successfully maintained through litigation.
Continued exploration success and plans for further drilling and economic research in 2022
The mineralization found in the copper world and the Bolsa deposit still has opportunities for expansion. The current drilling plan will continue in 2022, and its goal is to convert most of the inferred mineral resources into indicated categories and some of the indicated mineral resources into measured categories to test the potential connection between Broad Top. Between Butte and Bolsa and Bolsa and Rosemont to test the extension of the copper world deposit and test other discrete mineralizations between known deposits. Hudbay also plans to advance a pre-feasibility study in 2022 after the PEA is completed. Activities in support of PEA will include additional technical research and drilling at Copper World.
In 2021, the geophysical survey also identified several new targets in the north and south of the copper world, one of which is highlighted in Figure 4. Most of Hudbay's properties in this prolific area have not yet been explored and provide the potential for further discoveries.
Hudbay and the previous owner of the project area drilled 310 holes that intersect with copper mineralization and define the copper world deposit. The method used to estimate the mineral resources of the Copper World deposit is the same as that used for many years at the Constantia and Pampacancha mines in Hudbay, Peru, where the mineral resources and reserves estimates show a positive reconciliation with the factory credited production (see NI 43-101 Constance Technical Report, dated March 29, 2021, for more details).
This method is slightly different from the method used for the Rosemont deposit in the 2017 feasibility study, and has also been adjusted to reflect the shallow and closely spaced drilling that Hudbay conducted at the Copper World deposit in 2020 and 2021. The latest knowledge. The distribution of copper mineralization is not bounded by each stratigraphic unit, but is delimited by four structural domains. Porphyry intrusions, regional backbones and low-angle faults are the main controlling structural features.
The resource classification used by Copper World follows the same classification standard, which is considered a reliable measure of the quarterly and annual performance (tonnage and grade forecast) of Hudbay's operating mines, and compares well with the classification used by Rosemont in the past. Blocks originally classified as surveys were downgraded to indications to take into account the impact of historical drilling in the Peach-Elgin and Broad Top Butte areas, where there are no quality assurance/quality control results and cores available for verification.
Copper World's mineral resource estimation is based on the assumption that the selective mining unit is 50 feet x 50 feet x 50 feet and is located in an economic pit defined by the Lerch Grossman algorithm. The mineral resource estimate does not take into account the marginal number of historical small-scale operations that occurred in the area from 1870 to 1970. It is estimated that about 200,000 tons have been mined, which is within the rounding approximation of the current resource estimate.
Qualified personnel and NI 43-101
Due to its early development stage, Hudbay does not regard the copper world deposit as a material mineral attribute for the purpose of NI 43-101.
The scientific and technical information contained in this press release or incorporated by reference was prepared under the supervision of Olivier Tavchandjian, P. Geo., Vice President of Exploration and Geology at Hudbay. Mr. Tavchandjian is a "qualified person" under NI 43-101.
Mr. Tavchandjian has verified the exploration data disclosed in this press release, including sampling, analysis and testing data on which the information or opinions expressed in this article are based. Since 2020, as part of the Copper World drilling program implemented by Hudbay, data verification and quality assurance/quality control ("QA/QC") measures are summarized as follows:
Hudbay is not aware of any drilling, sampling, recovery or other factors that may have a significant impact on the accuracy or reliability of the mineral resource estimates disclosed in this press release.
This press release contains forward-looking information within the meaning of applicable Canadian and U.S. securities legislation. Forward-looking information includes, but is not limited to, Hudbay's expectations for the future potential of the Copper World deposit and the Rosemont project, its plans for additional drilling and other exploration work for the Copper World deposit, its expectations for the PEA World of copper, and the advancement of pre-feasibility in 2022 The potential for sexual research, the state-level licensing process anticipated by Copper World, and the potential synergy between Copper World and Rosemont. Forward-looking information is not and cannot be a guarantee of future results or events. Forward-looking information is based on (including) opinions, assumptions, estimates and analysis. Although the company believes that it is reasonable on the date of providing forward-looking information, it is inherently subject to major risks, uncertainties, unexpected events and other factors. Factors that cause actual results and events to differ materially from those expressed or implied by forward-looking information.
The major factors or assumptions identified by Hudbay in the forward-looking information and applied by the company when drawing conclusions or making predictions or predictions include, but are not limited to, the company’s ability to continue to operate safely and at full capacity during the COVID-19 pandemic; no cause COVID-19 related challenges have caused supply chain, contractor availability or technical service interruptions, and there are no accidental litigation or legal challenges related to Copper World or Rosemont.
Risks, uncertainties, unexpected events and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking information may include, but are not limited to, risks related to the COVID-19 pandemic and their impact on Hudbay operations , Financial conditions, projects and prospects, the possibility of a global economic recession caused by the COVID-19 pandemic, and attempts to control it, risks generally associated with the mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy prices And general cost increases), the risks associated with the Copper World licensing process, the risks associated with the ongoing Rosemont litigation, the possibility of new legal challenges or litigation, and the risks discussed under Hudbay’s most important “risk factors” heading The most recent annual information sheet.
If one or more risks, uncertainties, unexpected events or other factors become reality, or if any factor or assumption proves to be incorrect, the actual results may differ materially from the results expressed or implied in the forward-looking information. Therefore, you should not rely too much on forward-looking information. Except as required by applicable law, Hudbay assumes no obligation to update or revise any forward-looking information or explain any material differences between subsequent actual events and any forward-looking information after the date of this press release.
Hudbay (TSX, NYSE: HBM) is a diversified mining company that mainly produces copper concentrates (including copper, gold and silver), zinc metal and silver/gold ingots. Hudbay directly and through its subsidiaries owns three polymetallic mines, four beneficiation plants and a zinc production facility in northern Manitoba, Saskatchewan (Canada) and Cusco (Peru). Arizona and Nevada (United States) have copper projects. The company's growth strategy focuses on the exploration, development, operation and optimization of its controlled assets, as well as the possible acquisition of other mineral assets that meet its strategic standards. Hudbay's vision is to become a responsible top operator of long-lived, low-cost mines in the Americas. Hudbay’s mission is to create sustainable value by acquiring, developing, and operating high-quality, long-lived mineral deposits with exploration potential in jurisdictions that support responsible mining, and to benefit the regions and communities in which the company operates. The company is governed by the Canadian Business Companies Act and its shares are listed on the Toronto Stock Exchange, the New York Stock Exchange and Bolsa de Valores de Lima under the symbol "HBM". For more information about Hudbay, please visit www.hudbay.com.
For more information, please contact:
Candace Brûlé Vice President of Investor Relations (416) 814-4387 candace.brule@hudbay.com
Figure 1: Floor plan of the Copper World project. The Copper World project consists of seven deposits. The deposits are located in the shallow layer of a 7-kilometer strike zone with oxide and sulfide copper mineralization. Most of the deposits are located in the neighbouring private mining requirements. . Rosemount. https://www.globenewswire.com/NewsRoom/AttachmentNg/71d5a548-48f3-429d-946b-2b03d63a3ffa
Figure 2: The location of the deposit near the main fault. Important oxide mineralization is distributed along the regional faults near the west side of the Rosemont, Bolsa and Broad Top Butte deposits called the main fault. https://www.globenewswire.com/NewsRoom/AttachmentNg/82ca0c6d-764c-4a7b-8db9-41fb74b3e130
Figure 3: Longitudinal section of the high-grade part that is expected to be mined earlier shows the Bolsa, Copper World, Peach-Elgin, and Broad Top Butte pit shells, which have high-grade mineralization closer to the surface and are expected to be mined early in the life of the mine. https://www.globenewswire.com/NewsRoom/AttachmentNg/e70cf5ec-db02-4f50-bb59-58590b1bded1
Figure 4: Several geophysical exploration targets identified in the area. The area is still promising. Several geophysical targets have been identified in the north and south of the Copper World deposit, including an untested geophysical anomaly located near Broad Top Butte . https://www.globenewswire.com/NewsRoom/AttachmentNg/a6214b82-c9a5-4363-bde7-2ae9c00eed5e
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Click here to read the previous copper price outlook.
The performance of copper in 2021 surprised many investors. After the price plunge in 2020, copper prices hit their highest level ever.
By 2022, many market observers expect copper price increases to pause, and some predict that copper supply will become tighter in the next few decades.
As the end of the year ended, Investment News Network (INN) asked analysts in the field their views on the future development of important base metals. Keep reading their predictions.
Copper was a glorious year, setting a record high in the second quarter of 2021. As demand is expected to rise and the world reopens after strict COVID-19 restrictions, prices have risen to more than US$10,700 per ton.
"The price has exceeded our expectations in 2021," CRU basic metals research manager Eoin Dinsmore told INN.
Copper price performance from December 2020 to December 2021.
The chart is from the London Metal Exchange.
Copper prices have been above US$9,000 for most of the year, which is a level that many analysts did not foresee at the end of 2020.
Dan Smith of Commodity Markets Analytics told INN that although he had expected prices to rebound in 2021, the market's upward trend exceeded his prediction.
"This is because demand is unexpectedly strong, but due to various challenges, including maintenance, operational issues and the closure of some producing copper mines, it is difficult to keep up with supply growth."
In fact, the International Copper Research Group predicts that the refined copper market will have a small shortage of 42,000 tons in 2021 after a 479,000 tons shortage in 2020.
Karen Norton of Refinitiv responded to these thoughts, saying that she expects to strengthen further and may set multi-year highs, but not necessarily new all-time highs. She believes that the narrative of the energy transition may have captured the imagination of the market earlier than expected.
She added: "Global supply chain issues have increased the three-month cash shortage, and this may be the biggest surprise."
After more than a year of suspension, the world will slowly reopen in 2021, which in turn means increased demand for copper and other metals.
Although Smith had expected a strong recovery in demand in 2021, the biggest surprise was the rebound in the first quarter, which caught many people off guard. “However, demand has been weak in the second half of 2021, reflecting weak demand in China and a significant slowdown in the real estate market,” he said.
Taking into account the demand performance of Asian powers in 2022, Smith said that economic growth in China and the rest of the world is slowing, which will put pressure on global copper demand.
"After a period of relative weakness, it seems that China will accelerate imports in 2022," he added.
CRU analysts believe that China will face the adverse effects of a slowdown in the real estate industry next year. "But the growth of electric vehicles (EV) and renewable energy will lead to China's and global demand for copper in 2022," Dinsmore added.
Refinitiv also predicts that, compared with the 3% expected in 2021, China's demand growth will be weaker next year. Part of the expected slowdown is due to problems in the real estate industry.
“In the next five-year plan, higher investment in the power grid sector is widely believed to have a positive impact during this period, but its impact may be more limited in 2022,” Norton said.
Smith said that from a supply perspective, scrap supply in the copper market will increase significantly in 2021 to fill the supply gap and cope with high prices.
"If scrap supply decreases next year, this will increase the upward pressure on copper prices," he added.
With the beginning of 2022, Refinitiv predicts that global mine production will usher in another strong year, with a year-on-year growth of nearly 4%, which is higher than this year's approximately 3%.
"The new projects are expected to have an impact, although many of them will be put into use before the end of the year, and in many cases are more important to the outlook for 2023," Norton said.
The acceleration, expansion and stronger production of some existing mines will also play a key role in the growth.
When talking about which supplies may enter the market in the near future, Smith said that there are currently some large-scale projects and expansion projects in progress, including Kamoa Kakula in the Democratic Republic of Congo, Grasberg in Indonesia and Spence in Chile.
"Followed by a few medium-sized mines in Chile and Peru in 2022 and 2023," he said. "China is also building some new copper mines, which will be put into operation soon."
In 2022, Anglo American Resources Group (LSE: AAL, OTCQX: AAUKF) will start production at the Quellaveco mine in Peru, which will produce 300,000 tons of copper.
"Together with Teck Resources (TSX code: TECK.A, TSX code: TECK.B, NYSE code: TECK) Quebrada Blanca Phase 2, these are all mining project start-ups that the market will pay close attention to. Company," Dinsmore of CRU.
Entering 2022, Smith believes that the biggest challenge facing copper miners is political risk.
“Miners in Chile are facing stricter regulations on water use, and there is increasing pressure to increase payments to local communities. Tax levels may also be pushed up,” he said.
In addition, in Chile, the final round of presidential elections in December 2021 will increase the risk of 2022, “especially if the left-wing candidate (Gabriel) Boric wins unexpectedly,” CRU’s Dinsmore said.
Similar problems are hindering the development of Peru's copper industry, which is the world's largest copper producer after Chile.
"These developments are affecting professional and junior students who are trying to develop projects," Smith said. "Indonesia also threatens to restrict the export of raw materials."
In addition to these factors, Dinsmore also mentioned that Peru's mine supply is one of the biggest supply concerns.
Antamina has stopped production and Las Bambas mine has announced plans to suspend production in December because protesters that formed roadblocks disrupted inbound and outbound logistics.
"By 2022, the focus will remain on Peru, which accounts for approximately 14% of global mineral supply. These two mines account for approximately 30% of Peru's mine supply," said the research manager.
Commenting on opportunities for junior copper miners, Norton said that for junior miners with strong potential projects, next year may be an exciting time.
Norton said: "Especially for large companies that don't have too many committed projects (and may) continue to search for new assets around the world to help them navigate the wave of energy transition." "However, more and more junior staff may need to perform. A strong environmental, social, and governance qualification is considered attractive."
Commodity Markets Analytics predicts that in 2022 and 2023, copper will be moderately surplus, thanks to the sufficient growth of mineral supply, inventory levels may remain low.
Similarly, Refinitiv is looking for a surplus market in 2022. ," Norton said. "Prices may remain high enough to incentivize new projects. "
As far as he is concerned, although the shortage may be far away, CRU's Dinsmore believes that the market will balance in 2022.
"(That is to say) the inventory is at a very low level, and any logistics interruption may lead to local shortages," he added.
Smith commented on the copper market trends he closely followed, said that the current sales of electric vehicles are growing rapidly.
"If this is combined with major delays in any major copper mines, then this could cause an explosive rise in copper prices," he added.
Dinsmore pointed out that high prices will promote the replacement of copper and the frugality of red metals. "This is the reality we saw in the past," he said. "The most optimistic investors need to consider that if price increases far exceed the benefits of competing materials, the future demand for electric vehicles and the demand related to renewable energy will be eroded."
For analysts, next year's recycling and electric vehicles are particularly interesting. "The boom in electric vehicles has led to investment in copper battery foil," he said. "In terms of recycling, the company sees the growth of end-of-life waste and consumers' drive to increase recycling. Miners will pay close attention to the recycling space."
For Norton, scrap supply is also an area of interest in the copper market.
"It's not necessarily next year, but I am still excited about the potential of scrap supply to help fill the huge gap between supply and demand that may appear on the surface in the next few years," she told INN.
In terms of annual average prices, Refinitiv expects prices to be lower than this year because the market has digested a year's strong supply and relatively slow demand growth.
Panel members surveyed recently by FocusEconomics had different views on the price outlook for 2022. Euromonitor’s lowest forecast for the fourth quarter of 2022 is US$6,642, while Goldman Sachs (NYSE: GS)’s highest forecast is US$12,250.
Don't forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Priscila Barrera, have no direct investment interest in any of the companies mentioned in this article.
Editor's disclosure: Investment News Network does not guarantee the accuracy or completeness of the information reported in the interviews it conducts. The views expressed in these interviews do not reflect the views of Investment News Network, nor do they constitute investment advice. All readers are encouraged to conduct their own due diligence.
Not to be disseminated in the U.S. or through the U.S. News Agency
1844 Resources Inc. (TSX-V:EFF) ("Company" or "1844") announced that it is expected to be at a price of US$0.065 per unit, with total revenue of up to US$325,000.
Each unit will consist of one common share (each share, "share") in the company's capital and one half of a non-transferable share purchase warrant (each share, "warrant"). Each entire warrant will give the holder the right to purchase an additional share of the company’s capital ("Warrants") at an exercise price of US$0.075 per warrant share within 18 months from the deadline Shares").
The company may pay private placement discoverer fees within the maximum amount allowed by the TSX Venture Exchange ("TSXV") policy. The company may complete multiple private placements after receiving the subscription. Each closure is subject to many conditions, including receiving all necessary company and regulatory approvals.
As far as the private placement is concerned, the president of the company has subscribed for 1,000,000 shares and arranged sales through the facilities of TSX-V (Gypsy Swap) to fund the subscription. The participation of the president of the company constitutes multilateral instrument 61-101, a related party transaction defined by the protection of minority securities holders in special transactions. Such participation is not subject to MI 61-101's formal valuation and minority shareholder approval requirements, because neither the fair market value of the unit acquired by the insider nor the unit consideration paid by the insider exceeds 25% of the company's market value.
The completion of the private placement is subject to certain customary conditions, including but not limited to TSXV approval. Pursuant to the applicable exemption from the requirements of the prospectus under the applicable securities law, the securities issued under the private placement will be issued by private placement in the Canadian provinces and/or regions that the company may determine. The securities issued under the private placement will be subject to the holding period. The holding period will expire four months and one day from the date of completion of the private placement.
The company intends to use the proceeds from the private placement as administrative and other general working capital
About 1844 Resources Inc.: 1844 is an exploration company that focuses on strategic and high-energy metals and undeveloped areas "Chibu Gamagaspe, Quebec". With a professional management team, the company's goal is to create value for shareholders by discovering new deposits.
Sylvain Laberge President and CEO 514.702.9841 Slaberge@1844 Resources.com
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be achieved through the use of words such as "expects," "intends," "expects," "potential," "suggests," or variations of such words or phrases, or certain actions, events, or results "may "," "may", "should", "will", "may" or "will" be taken, occurred or realized. Forward-looking statements and information are not historical facts and are subject to many risks and uncertainties beyond the company's control. Actual results and developments may differ from those expressed or implied by the forward-looking statements contained in this press release, and may differ materially. Therefore, readers should not place undue reliance on forward-looking statements. Unless required by law, the company assumes no obligation to publicly update or otherwise modify any forward-looking statements.
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