Percentage of Portfolio: Minimum 10%, but we hold approximately 35% in our portfolio.
GREAT FOUNDATIONAL READINGS:
Methodology: Using the Ratio’s.
Dow:Gold Ratio is indicating that Gold is on sale relative to the Dow. When the ratio is between 4-5, it is more favorable to be in general equities and real estate. At present the ratio is 1 share of the Dow = 18 oz of Gold.
Looking further, Silver and Platinum are on sale relative to Gold.
Gold:Silver Ratio At present 1 oz of Gold = 76.5 oz of Silver. When the ratio is between 45-54 trade your Silver in for Gold. Note: Silver Eagles have demanded a significant premium the past 8 months. Which actually reduced the Gold:Silver Ratio inside the 45-54 range.
Platinum:Gold Ratio: At present .59 oz of Platinum is = 1 oz of Gold. When the ratio is equal to and or greater than 1, trade your Platinum in for Gold.
A great resource on the power of Ratio’s and when to buy and sell is: Bob Moriarty’s:Nobody Knows Anything(Must Read)!
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These companies are most speculative and offer tremendous upside and conversely a lot of downside. We are biased and are active buyers of our partner/advertisers found (Here). For a deeper dive into the mining/exploration industry: (Must Reads):
Commit your future to paper. Not having a plan, is a plan. A foolish one, but is a plan. If you don’t have a plan for your savings and investments someone else does. SCHEDULE YOUR PATH.
Be willing to study each of the aforementioned. Don’t believe the hype! Don’t get mislead by fancy thumbnails, price predictions, and narratives on manipulation. Is there manipulation? Yes, in every market! Don’t complain about manipulation, learn to leverage manipulation in your favor by realizing you are being offered a discounted price!
Be pragmatic, and be patient. Your competition is never patient. They want to price to rise on their schedule, which was yesterday. They will be your best friends, because they have have fast hands and love to sell at the wrong time. If the price goes down, and nothing fundamental has changed with management, the project/s, and or results, there is your buying opportunity!!!
Very few investors/speculators are in this space, you don’t have much competition. The best way to beat your competition in this space, is not to follow the herd. Remember, no one get’s it right all the time, you just need to be better than your competition.
Copper corrected from the May record high and made higher lows
Four reasons the copper bull will take the price to new highs
Impressive price action in the face of Chinese selling
Nevada Copper- Three reasons why NEVDF is could outperform percentage gains in the nonferrous metal
Bull markets rarely move in straight lines- The next leg for the copper bull has begun
When Goldman Sachs called copper “the new oil” in April 2021, the price was on its way to a new record high at nearly $4.90 on the nearby COMEX futures contract. The world’s most active and liquid copper market on the London Metals Exchange reached a peak at over $10,700 per ton in May. Copper blew through the 2011 $4.6495 previous all-time peak as a hot knife goes through butter.
Even the most aggressive bull markets rarely move in straight lines. Corrections can be brutal when prices accelerate on the upside, reaching unsustainable short-term peaks.
Copper ran out of upside steam before touching the $4.90 per pound level on futures and $10,750 per ton level on LME forwards. The price fell just below the $4 level in August, three months after reaching the high. Copper was still “the new oil” when the price dropped, and the world’s leading copper consumer was hoping it would continue to fall. China has done everything to push copper’s price lower, but the red metal has exhibited remarkable resilience.
Meanwhile, Nevada Copper Corporation (NEVDF) has been working day and night to ramp up production and transform its balance sheet. The market has rewarded the company as the share price has been steadily increasing since the beginning of October.
Mining companies provide investors with leveraged exposure to a commodity as they tend to outperform the price action on the upside and underperform during corrections. Junior mining companies can magnify the leverage. Copper’s recent explosive move suggests that new highs are on the horizon. NEVDF has the potential to do even better on a percentage basis as the company ramps up its production of the red industrial metal.
Copper corrected from the May record high and made higher lows Copper futures ran out of steam at just below the $4.90 level, with the LME forwards moving the $10,747.50 per ton level for the first time. The May highs led to a substantial correction that briefly took COMEX futures below $4 per pound in August.
Source: CQG The chart shows the decline from $4.8985 in May to a low of $3.9615 in mid-August, a 19.1% correction. COMEX futures made higher lows of $4.0220, $4.0545, and $4.1140 in late September and early October before blasting off on the upside to over the $4.70 level as of October 15.
Source: Barchart
The chart illustrates the decline from $10,747.50 on May 10 to a low of $ 8,740 per ton on August 19 as copper forwards corrected by 18.7%. Copper then made higher lows at $8,810 on September 21 and $8,876.50 on October 1 before exploding higher to the $10,281 level on October 15.
Four reasons the copper bull will take the price to new highs
The four leading factors supporting a continuation of new and higher highs in the copper market are:
Rising inflation– CPI rose by 5.4% in September, once again exceeding expectations. While the Fed will likely begin tapering quantitative easing, tapering is not tightening. Moreover, fiscal stimulus continues as the multi-trillion budget will pump more inflationary stimulus into the economy.
Building demand– The infrastructure rebuilding package in the US will increase copper requirements for construction projects to rebuild the crumbling roads, bridges, tunnels, airports, schools, and government buildings over the coming years. Moreover, China’s copper requirements will continue to increase as the world’s most populous country builds infrastructure.
Decarbonization– Addressing climate change boosts copper demand. As Goldman Sachs said in April, decarbonization does not occur without copper, making the metal “the new oil.” Copper requirements for EVs, wind turbines, and other clean energy projects is a multi-decade affair for the red metal.
Supply shortages– Copper mining companies are scrambling to find new supply sources. Production can’t keep pace with demand- It takes eight to ten years to bring new copper mining projects on stream. BHP, a leading global mining company, is in talks with Ivanhoe Mines for participation in the Western Foreland exploration area in the politically dicey Democratic Republic of the Congo.
Bull markets tend to experience severe selloffs. China has attempted to cool off the bullish copper and other nonferrous metals markets. The world’s leading copper consumer has the most to lose from runaway prices on the upside.
Impressive price action in the face of Chinese selling
On September 1, China auctioned 150,000 tons of copper, aluminum, and zinc from strategic stockpiles, which was the third auction sale since early July, attempting to temper the market’s bullish price action. The market had expected the sales. Copper rallied to the highest level since early August on September 13, with many other base metals following the red metal higher. The price then retreated, but copper made a higher low on September 21. The Chinese auction to cool off the rally put 80,000 tons of copper, 210,00 tons of aluminum, and 130,000 tons of zinc into the market since early July. Since the day of the first auction, copper, aluminum, and zinc prices all posted gains. Imagine where prices might be if China did not sell from its strategic stocks.
In early October, China auctioned the fourth round of base metals, lifting the total sales to 570,000 metric tons. Copper and all the base metals posted explosive gains after the latest auction. China is selling copper, aluminum, and zinc from its strategic stockpiles. The attempt to stem price appreciation makes the Chinese a buyer of the metals on price weakness to replace its stocks. However, the auctions have not had the desired impact on price. The price action has been more than impressive in the face of the sales.
While BHP looks towards the DRC and other regions for new copper supplies, Nevada Copper is making significant headway on its production project in a highly stable political and economic environment in the United States. Moreover, Nevada is a state that continues to encourage mining activity and is rich in red metal reserves.
Nevada Copper- Three reasons why NEVDF has the potential to outperform percentage gains in the nonferrous metal
Nevada Copper (NEVDF) has made great strides over the past weeks and months. A successful junior mining company is positioned best to profit during a bull market in the commodity it extracts from the earth’s crust. Three factors support the price of NEVDF shares as copper has taken off on the upside again:
Factor one: Turing the corner on operations in Q3- On October 6, NEVDF provided an update on operational performance at the company’s underground mine at its Pumpkin Hollow project, noting:
Copper in concentrate produced during September increased by 265% compared to August, driven by higher stope production. Approximately 30,386 tons of ore processing yielded 682 tons of copper concentrate at an average grade of 22%, reflecting 150 tons of copper output.
Stoping is the process of extracting the desired ore or mineral from an underground mine, leaving open space called a stope. Stoping at Pumpkin Hollow significantly accelerated since mid-August, with the second and third stope panels fully mined and a fourth stope panel currently being mined. Further stopes are planned for October and November, and the high-grade Sugar Cube zone to be mined during the final months of 2021.
NEVDF experienced the highest monthly development footage achieved since April 2021 in September, with a 12% increase over August. Approximately 750 lateral equivalent feet were advanced in September.
Outgoing Interim CEO Mike Brown said, “I am very pleased to see the improved trajectory in our production ramp-up and a recovery in productivities. The increased ore production was a key objective for September, and together with the improving productivities on-site, along with the ongoing management strengthening, provide further confidence in the mine ramp-up.”
Randy Buffington, a veteran mining executive with previous management experience at Barrick, Placer Dome, and Cominco, is taking over as President and CEO at Nevada Copper.
Factor two: On October 12, NEVDF announced it had agreed with its senior project lender and concluded a non-binding term sheet with its largest shareholder to provide additional financing and a significant deferral and extension of its debt facilities. The move offers Nevada Copper greater balance sheet flexibility and support for the ramp-up of its underground mining operations and advancement of its open-pit project and broader property exploration targets. The highlights of the more flexible financing arrangement include:
Two-year deferral of first loan repayments scheduled to begin in July 2025.
Extension of loan amortization with the final maturity pushed to July 2029.
Deferral of the formal long stop date for the project as the completion test was deferred to June 2023.
All outstanding shareholder loans were consolidated under an amended existing shareholder credit facility.
A two-year extension to maturity data until 2026 with no scheduled payments before final maturity.
An increase of $41 million in additional liquidity under the amended credit facility.
Randy Buffington, NEVDF’s new CEO, said, “These combined balance sheet improvements provide significant additional runway for the Company as we move forward to complete the ramp-up of our underground operations. The ongoing support of two of our major stakeholders provides further validation of the significant inherent value of our copper operations in Nevada and allows us to continue to pursue the growth potential embedded within our asset base.”
Factor three: NEVDF’s value proposition is compelling when compared to peers. The chart shows NEVDF’s market cap versus its enterprise value compared to other diversified metals and mining companies with similar market caps:
Source: Seeking Alpha
As the chart highlights, the enterprise value is over 2.2 times the current $173.53 million market cap, leading to plenty of upside room for NEVDF shares. There is plenty of room for growth as the enterprise value will rise with output from the underground and open-pit mining operations over the coming months and years. According to data from Seeking Alpha, at 97 cents per share on October 15, NEVDF had a $173.53 million market cap. The average daily volume in the past 15 trading days from all exchanges stood at just over 2,500,000 shares.
Source: Barchart
The chart shows the rise from 38.78 cents on October 1 to a high of 99.2 cents per share on October 14. NEVDF shares closed not far from the high at 96.56 cents on Friday, October 15.
The trend in copper and NEVDF is bullish, and the trend is always your best friend in markets.
Bull markets rarely move in straight lines- The next leg for the copper bull has begun
Bull markets can be bucking broncos as corrections are often downdrafts in prices. Copper’s decline from nearly $4.90 to below $4 and recovery to over $4.70 on October 15 is a bullish sign for the red metal.
Copper’s strength, along with the other base metals in the face of Chinese stockpiling selling, has been more than impressive and is a testament to the bullish factors that are likely to push the price higher. Goldman Sachs expects LME copper forwards to reach the $15,000 per ton level by 2025, putting COMEX futures over $6.80 per pound. Other analysts see the price rising to as high as $20,000 per ton as decarbonization will keep demand outpacing supplies.
Bull markets often take prices far higher than analysts believe possible before they peak. As the world searches for more copper to meet the rising demand, Nevada Copper’s mines are in the most economically and politically stable region of the world. NEVDF shares may have just begun to rally as the price threatens to move over the $1 per share level.
Hot Chili is one of the top ASX listed copper developers with a Leading Global Copper Project with 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum – Costa Fuego
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In this exclusive interview, Ryan King the VP for Corporate Development and Investor Relations for Calibre Mining shares the value proposition the company presents to the Market. Calibre Mining is a multi-asset gold producer focused on execution and building sustainable value for our shareholders, communities we operate in, and all stakeholders. The company has completed a series of successive accretive transactions for their shareholders which we will address throughout the interview.
First, we will discuss the $45 Million Dollar Earn-In Agreement with Rio Tinto on Calibre’s Borosi Projects which host both gold-silver and copper-gold resources in two areas as well as multiple lesser explored copper-gold skarns, low-sulphidation epithermal gold-silver vein systems and bulk tonnage copper-gold porphyry targets. Second, we will discuss B2Gold And Calibre Mining joininig forces in Nicaragua on the El Limon and La Libertad Gold Mines in addition to completed a CDN$100 Million Equity Financing. Finally, we discuss the expansive, ambitious 40,000 Metre diamond core drilling exploration program that Calibre will be embarking upon on the aforementioned El Limon and La Libertad gold mines. Discover why the value proposition of Calibre Mining is extremely compelling!
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Vancouver, British Columbia–(Newsfile Corp. – October 28, 2019) – Ethos Gold Corp. (TSXV:ECC) (“Ethos” or the “Company“) announces that it has revised the terms and size of the non-brokered private placement announced September 20, 2019. Ethos is now proceeding with a flow-through offering to raise gross proceeds of up to $1,512,000 by the issuance of up to 5,600,000 units (each a “FT Unit”) at a price of $0.27 per FT Unit (the “FT Offering”). Each FT Unit will comprise one flow-through common share (a “FT Share”) and one half of one non flow-through common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable at a price of $0.30 into one common share for a period of two years from the date of issuance. The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).
For more details click below. If you are qualified and want to participate please reference Proven & Probable and contact the following:
Matt Gili the CEO, President, and Director of Nevada Copper (TSX: NCU | OTC: NEVDF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of Nevada Copper, which is on target for U.S. production in Q4 2019. Mr. Gili, provides updates on the flagship Pumpkin Hollow Project, which hosts both an underground and open-pit deposits. We provide an overview on the supply an demand fundamentals on Copper, where a prudent speculator may position themselves to take advantage of the copper supply deficit.
VIDEO
AUDIO
TRANSCRIPT
Source: Maurice Jackson for Streetwise Reports (3/18/19)
Matt Gili, CEO of Nevada Copper, talks with Maurice Jackson of Proven and Probable about his company’s progress in beginning copper production by the end of the year.
Pumpkin Hollow
Maurice Jackson: Joining us for a conversation is Matt Gili, president, CEO and director of Nevada Copper Corp. (NCU:TSX), which is on target to U.S. copper production by Q4 2019.
Nevada Copper has a number of successes to share with reader. But, before you share the unique value preposition of Nevada Copper, Mr. Gili, for readers who may not be familiar with the supply and demand fundamentals regarding copper, please provide us with a 10,000-foot overview. Matt Gili: When you look at the copper fundamentals, we see a very steady and predictable increase in demand of copper, modest amount, 1.5% per year. We see the move towards electrification of vehicles consuming more copper. We see other things that are offsetting that, but overall, a steady predictable 1.5% increase in the global demand for copper. Where the story really gets exciting, from the Nevada Copper standpoint, is with regards to the supply for copper. What we’re seeing is a lot of restrictions in future supply. We’re seeing a lot of difficulties on bringing on a future supply and backed up by work done by Wood Mackenzie and others, we’re projecting that by 2025, the world will be in a supply deficit of upwards of 6 million tonnes of copper per year. This just really supports what we’re doing in Nevada Copper in setting up the next copper mine. Maurice Jackson: Now that we have an overview of the supply and demand fundamentals for copper, Matt, let’s discuss how someone listening may position himself prudently as a beneficiary. For someone new to the story, can you give us a very quick overview of Nevada Copper? Matt Gili: Certainly. Nevada Copper, who’s Nevada Copper? We have an asset in Nevada called Pumpkin Hollow. This is our chief asset. It consists of two deposits: an underground deposit and an open-pit deposit for copper. We’re currently in the construction phase for the underground project with production from that underground project coming online later this year. I think we’ll talk more about that later. Regarding the open pit, we’re currently in the process of wrapping up the prefeasibility study for the open pit. You’ll see that being published in April of this year. Then, we have a regional land package of well over 15,000 acres that we are looking at really understanding, really unlocking the full value from that land package. That’s really Nevada Copper, building a copper mine coming into production later this year, with a lot of expansion into an open-pit mine, as well as regional exploration. Maurice Jackson: Let’s provide readers the latest updates on Nevada Copper, as the company has been very proactive on a number of fronts. Please provide us with an update on the construction progress. I would like to begin with the multi-million dollar question, are we on track to enter production in Q4 of this year? Matt Gili: Yes, Maurice, we are on track to enter production in Q4 of this year. We are very proud of that. The team’s doing a fantastic job. We have construction activities both on surface with Sedgman building the process plants, as well as underground cementation, both sinking shaft and doing lateral development on our main shaft. All that’s coming together very nicely. We are absolutely on track for commissioning of the plant in the fourth quarter of this year. Maurice Jackson: As Nevada Copper is preparing for production this year, have you increased your staffing to meet the growing demands? Matt Gili: That’s a really good question and yes, we have. We’ve increased our staffing. It’s an operational readiness question that you’re asking. This is where I want to stress to you and readers that this concept of operational readiness is foremost in our thoughts and how we’re planning for really becoming, not just building a great mine, but operating a great mine. When you look at the staffing, so far, our staffing, by design, is quite modest. We’re looking at a total workforce of Nevada Copper employees of around 30. That is because this is our model, a very lean, efficient operation. We utilize high-quality, expert service providers as necessary, to make sure that we are operating very efficiently. Maurice Jackson: Is Nevada Copper still actively recruiting and if so, what positions? Matt Gili: Yes, we are actively recruiting. Most of our positions open are technical and specialist positions, and would be part of the management team. I absolutely encourage anyone interested in what we’re recruiting for to contact the Nevada Copper website. You’ll see the complete listing of opening jobs there, as well as information on how to apply for any of these positions if you’re interested. Maurice Jackson: Pumpkin Hollow is unique in that you have both an underground and an open-pit mine. Let’s discuss exploration and expansion potential. What initiatives is Nevada Copper taking to optimize the full potential of the Pumpkin Hollow project? Matt Gili: We are in the process of constructing the underground, which has a large amount of upside potential. We’ll really only explore that upside potential when we’re underground, after we’re in production. We really look forward to updates on that front in 2020, and the reason for that is very simple. It’s just much more efficient to drill out the prospective areas of the underground from the underground; the holes are shorter. It’s just much easier. That’s really where the underground sits right now, in a holding pattern as far as expansion potential. When you look at the open pit, that’s where a lot of great energy is going into expanding the open pit, understanding the open pit better, really getting that ore body knowledge to allow you to build a world-class operation. That is part of the PFS, which is coming out in April of this year.
That PFS will include the drilling campaign that we completed in 2018, the 26 hole drilling campaign. It will include those results in the resource model. That’s going to give you an even better idea of the full potential of the open pit. The real excitement that we have is with regards to the region itself, a large region, relatively unexplored, but with large amounts of historical copper production, as well as great physical outcroppings of copper mineralization. This is really where we’re going to focus our efforts during 2019, to really get a chance, now that we’ve tied up this land package, to understand what we have. Maurice Jackson: Speaking of the region, there was a regional survey conducted that led you to staking more land. Can you share the results with us? Matt Gili: We staked a section a land that we refer to as the Teddy Boy Claims. This is about 5,700 acres of land to our northeast. We are very glad to have this in our portfolio. The criteria for that selection was we brought together experts on this region and experts in copper mineralization. They identified that as a really prospective area and where we should be really focused on. We’ve staked that land, secured it for our ability to explore over the next several years. Maurice Jackson: Does Nevada Copper plan to drill the new area at some point this year? Matt Gili: We plan on drilling this year. I really haven’t put out the entire drill program for 2019. We’re still pulling that together and analyzing where to best spend the monies we have available for exploration. We would like to drill that this year. Some more prospective holes, really not an in-depth blanket campaign, but probe a few really interesting areas over there and get a better idea for the drill campaign. Maurice Jackson: It’s one thing to have tonnage and grade, but you must equally have astute business acumen to make the numbers work. Now, Nevada Copper is in discussions regarding an ECA-backed project finance facility to further optimize the balance sheet, as well as lining up a working capital facility and further offtake agreements to improve the economics of Pumpkin Hollow. Please provide us with the details. Matt Gili: You kind of said it all. I can’t really provide you with any more details, but I can surely stress what you’ve just said, Maurice. We are in discussions with this export, credit agency style backed project financing. This is going to provide us the opportunity to substantially reduce the cost of our debt service, as well as attract strong and robust financial partners for potential future open-pit developments. Something we’re very excited about and it’s part of really creating Nevada Copper as a world-class company. Maurice Jackson: Let’s get into some numbers. Please share your capital structure. Matt Gili: The capital structure is well defined. We have $8 million in long-term debt. We have $153 million of cash or cash equivalents. When you look at the financing package specifically for the underground, we’re fully financed, including the working capital facility to take us through operation ramp up. The inputs into that are an equity raise that we did in the middle of last year, as well as a streaming deposit with regards to a stream arrangement on the precious metals strictly from the underground deposit. We also have a $25-million subordinated debt package. Really a standby loan facility that we can use if necessary. Maurice Jackson: In closing, I have a multilayered question. What is the next unanswered question for Nevada Copper? When can we expect a response? What determines success? Matt Gili: I would not classify our successful completion of underground construction and bringing them in operation as an unanswered question. That is going to happen, and I’m very proud of the activities that have happened so far. The real unanswered question for the investors out there, is what is the true potential of the open pit? There’s been a lot of great work done, a lot of exploration done, last year. That’s all been incorporated. I’m really going to be excited when the PFS is released and we can share the details of the open pit potential with the public. They are going to be very impressed and they’re going to see the picture. They’re going to see what we see when we get so excited about Nevada Copper. Maurice Jackson: Speaking of the prefeasibility study, give us a timeline on that, sir. Matt Gili: We’ll release that in April. I’m being careful. I don’t want to be too specific. It will be in April of this year. Next month. Maurice Jackson: Mr. Gili, last question. What did I forget to ask? Matt Gili: Maurice, forget to ask? You’re always very thorough, so I wouldn’t say you forgot to ask anything. What I would say is I want to reiterate something that we at Nevada Copper have been thinking about over the last month. Unfortunately, for the world, the last month has been a month marred with tragedies, with risk and with unexpected events. What we’re really stressing, with Nevada Copper, is the risk management of Nevada Copper. We are an operation that is on private land. We’re not waiting for any permits. We’re not waiting for records of decision. We’re utilizing EPC contractors, who have that fixed price nature, reduced risks. We’re building a dry stack tailing facility. We’ll never have a wet tailing storage facility at Pumpkin Hollow. We’re doing this all with a proven, experienced team of mine builders and operators. Really wrapping that up, that concept of low risk, risk mitigation. We are going to build and operate the next mine and there’s very little risk to that execution. Maurice Jackson: Matt, if investors want to get more information about Nevada Copper, please share the website address.
Matt Gili: Absolutely, www.nevadacopper.com. We love to get your input. You’ll see our investor presentationsthere in our latest news. Let us know what you think. Maurice Jackson: For our audience, we wish to remind you that Nevada Copper trades on the TSX symbol, NCU, and on the OTC symbol NEVDF. For additional inquiries, please contact Richard Matthews at (877) 648-8266 or you may email RMatthews@nevadacopper.com. Nevada Copper is a sponsor and we are proud shareholders for the virtues conveyed in today’s message.
Last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Matt Gili of Nevada Copper, thank you for joining us today on Proven and Probable. Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world. Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Nevada Copper. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Nevada Copper is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
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Ross McElroy the COO and Chief Geologist for Fission 3.0 (TSX.V: FUU | OTCQB: FISOF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of Fission 3.0 and their Property Bank. In this interview Mr. McElroy provides the macro economics for uranium and how one may allocate their uranium holdings in a Uranium Project Generator with a Property Bank with projects located in high-grade uranium districts, with proven management and technical team that has a 20 year history of delivering success to shareholders.
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Original Source: https://www.streetwisereports.com/article/2019/03/16/prospect-generator-in-position-for-uranium-turnaround.html Maurice Jackson: Joining us for a conversation is Ross McElroy, the COO and chief geologist for Fission 3.0 Corp. (FUU:TSX.V; FISOF:OTC.MKTS): A Uranium Project Generator and Property Bank. Ross McElroy, glad to have you back on the program to share the value proposition of Fission 3.0. Before we begin, Ross, I’d like to begin with some basic fundamentals regarding uranium. For someone new to the uranium sector, what is uranium, and where is it used? Ross McElroy: Uranium is really all about energy. The way we use uranium is for nuclear fuel. That’s basically the fuel that runs reactors.
Globally nuclear power constitutes between 15% and 20% of the electrical requirements. That’s really where the majority of the uranium is used. There is some uranium that’s used for strategic purposes on a country by country basis, more for the Department of Defense reasons. But really, the vast, vast majority of uranium is used to fuel nuclear reactors. Maurice Jackson: Provide us with some metrics on how abundant uranium is in the Earth’s crust, and correlate that to the average grade that is found versus the grade that is needed to define an ore deposit in a future mine? Ross McElroy: Well, uranium is actually one of the most abundant elements in the Earth. It’s kind of ubiquitous. You’ll see it throughout the Earth’s crust; there is trace amounts of uranium present primarily in volcanic and igneous rocks and sedimentary rocks.
On a deposit level, there’s actually a number of uranium deposits around the world, in every continent on the planet and in many countries. On a global basis, the average grade of a uranium deposit worldwide is around 0.1 to 0.15% U308.
Now, if you compare that to say, the deposits in Canada, they’re orders of magnitude higher grade in Canada. We’re talking orders of magnitude that are 10 to 20 times that of the global grade.
Although I’ve given you the average grade, most of those deposits at those lower grades, the average grades are really uneconomic deposits. We need grades that are generally much higher than the 0.1%–0.15% if it’s going to be an economic deposit. And that’s what Canada has. Canada has very high-grade deposits, so the economic metrics are just that much more attractive in Canada. Maurice Jackson: Now that we’ve identified uranium’s utility, what can you share with us from a supply and demand perspective? Ross McElroy: Well, it’s fairly simple to understand what the demand for nuclear energy is, in other words, uranium. We can just multiply the number of reactors around the world that are currently operating, and the known fuel consumption rate for a 1000 megawatt reactor is just under 500,000 pounds of uranium a year. If we look at the global reactors, there are around 450 reactors around the world. You can see that the need for uranium on an annual basis is around the realm of almost 200 million pounds of uranium. Maurice Jackson: How does the nuclear plant in Fukushima, Japan, fit into this narrative? Ross McElroy: Japan historically, up until the Fukushima event in 2011, was one of the main users on a country basis worldwide. Japan I think consumed almost 20% of the world’s nuclear power, in other words, 20% of the world’s annual production of uranium was used to run the Japanese reactors.
In 2011, of course, we had the magnitude 9 earthquake followed by a tsunami, and that’s what damaged the Fukushima facility. Interestingly enough, even with that magnitude of an earthquake and the soon-to-follow tsunami, the reactor still did not breach. The housing that surrounded the reactor was damaged, and this is where some of the radiation leaks came from, but the reactor itself actually held, and so the damage was actually very, very limited and manageable.
What happened is overnight, Japan shut down all of its nuclear reactors, in other words, all 52 reactors I think they had working at that time, went offline. That caused disruption to the supply/demand situation globally.
What’s happened since then is Japan is slowly coming back on. Japan’s alternatives for power are pretty limited as the country doesn’t have very much of its own resources, if any at all. It imports whatever energy that it needs, be it in natural gas now, in nuclear.
It’s important for Japan to be able to operate these factories that they’re running. I mean, it’s an exporting country around the world, so it does have high energy requirements. It also has the requirements for inexpensive power.
Japan is coming back on to the scene as far as nuclear power. There are eight reactors that are currently back up and operating, and 17 reactors that are in the near-term licensing for approval to get them restarted again.
I think the bottom line is, prior to Fukushima, Japan depended on nuclear energy for at least 25% of its electricity demands. I think by the time 2030 approaches, Japan is supposed to be right back up to those same levels. The country is coming back on, it has always been an important major consumer of nuclear power. I think we’ll see it right back to the equation again in the very near future. Maurice Jackson: Uranium, next to gold, is known as the other yellow metal, and here’s why. Ross, let’s step back to the bull market in uranium. If one was selective with the uranium holdings, they would’ve had generational changes in their portfolio. What was the spot price during the last bull market? Ross McElroy: Well, in 2002, uranium was around, I don’t know, about $15 a pound. This is on the spot market. That’s what uranium was trading for.
In 2003–2004, we really saw the lift off of the price of uranium. In fact, it peaked at 2007 to around $140 a pound. It went almost a 10-fold increase in the price of the commodity between 2003 and 2007. The peak at 140 didn’t last particularly long, but it had a slower decline until about 2008—2009, it stabilized, and then it peaked back up again.
Really, it was holding steady. I guess this is the point I would want to make, is that we were starting to see a steady state price of between $50 to $70 a pound, and then the Fukushima event hit that we talked about in 2011, and that really threw the whole pricing structure right out the window. We’ve been working on our recovery ever since. Maurice Jackson: What is the spot price for uranium today? Ross McElroy: Currently we’re about $28 a pound for uranium. It has recovered; we’re off the bottoms of $17, $18 a pound just a couple of years ago. Uranium is making its way back.
Maybe the important point here to note is we’re still at prices that the majority of mines around the world are not profitable. Even the lowest cost producers are really not operating in an environment where they can make money with uranium prices what they’re at right now.
What we’ve seen is that the supply is starting to be restricted as the producers are taking a lot of that uranium off market; they’re not supplying it to the utilities at this cheap price, because it’s not a working business model to lose money in the long run on the mining of the commodity.
We are seeing an improvement in the price of uranium, and it’s been about a year and a half in the making. It’s gone up from the $18 that I mentioned to about $28 a pound, but it certainly has a lot more room to move upwards even before we can start to get production back online to meaningful levels. Maurice Jackson: What is that spot price that companies right now, uranium companies I should say, for them to earn their cost of capital? Is the number around $60 for a spot price of uranium? Ross McElroy: I believe you are correct. We’re seeing prices that globally, they have to be in the $60 to $70 a pound really to bring on any meaningful production.
One of the clues that I look at when we look at the best uranium mines out there, the lowest cost producers, those would be McArthur River deposit in Canada’s Athabasca Basin in Northern Saskatchewan. That is one of the best uranium mines in the world, certainly the largest highest-grade operating mine. Cameco took that offline because of the prices of uranium where they were at, they weren’t making any money on the mining of this deposit.
There are some indications that Cameco won’t turn that mine back on into being a producer until the price of uranium is somewhat north of $40, maybe $45. Something in that realm.
I don’t have an exact number there, but it does tell you that if you’re going to even bring back the best of those deposits, you really need prices that are something of $40 to $45. As we mentioned earlier, the price for many of the other deposits around the world are probably closer to $60 or $70. You can see, there’s still lots of room for improvement. Maurice Jackson: The current price of uranium does not support the fundamentals. What correlations do you see today that may exceed the returns from the last bull market? Ross McElroy: Well, it’s sort of an elastic situation. I think that the longer that we keep depressed prices, yet the demand is still there and growing, reactors are being built, the need to fuel these reactors, that’s not stopping.
In fact, it’s growing. You have the primary suppliers of uranium, i.e., the mines that are not supplying it, the longer that the prices are low, the more rapid that climb will be in the price of uranium when it does correct.
I think there’s a possibility, as I’ve heard some analysts call it, a violent reaction upwards to the price of uranium. I think we’re going to see some substantial price increases within some short vision of time, maybe a year or two or three. Something in that realm that I think will be quite meaningful.
We’ll see what happens, but the longer it stays depressed, the more likely and quicker the rise will be when it does come. Maurice Jackson: Ross, you’ve provided a compelling case on the fundamentals for uranium. I know readers may be asking, how will all of this demand for uranium be met? Mr. McElroy, please introduce us to Fission 3.0. Ross McElroy: Fission 3.0 is a uranium explorer. This is a company that we spun out of Fission Uranium Corp. (FCU:TSX; FCUUF:OTCQX; 2FU:FSE), our larger company, back in 2014 when we bought out our partner on the Patterson Lake project, and in so doing with that process from that arrangement, we spun out our non-core assets, the more grassroots exploration projects.
We’ve been able to build up an exploration portfolio, primarily focused in the Athabasca Basin. Remember, the Athabasca Basin is Canada’s only producing uranium field. That’s where the McArthur River deposit is, this is where Fission Uranium has the Triple R deposit. There’s some fantastic deposits out there.
That’s what we’re exploring for in Fission 3.0. We’re looking for the next high-grade uranium deposit in the Athabasca Basin. Maurice Jackson: You referenced that you’re a project generator. There’s a lot of ambiguity regarding project generators. Please share the virtues and why Fission 3.0 took on the project generator business model? Ross McElroy: Project generators are really all about sharing the risk. In our case, what we do very well is pick ground. We’ve been able to strategically stake ground in the Athabasca Basin, we’ve made discoveries on two of our properties, the first one in the company called Fission Energy that we made the discovery at our Waterbury Lake property, and later on in Fission Uranium Corp on our PLS property.
That have been situations where we’ve had joint-venture partners sharing the risks, sharing the costs with others. To use the model, what we do is we use our brands and other peoples’ money. That’s really what we’re good at, that’s basically the model that we have.
We have a very highly trained technical team that’s exceptional at picking out high-quality projects. We attract other people who are looking to get into the uranium business, looking to partner up with a team such as ours and join us for the ride to make a discovery.
It’s really all about sharing risk. That’s really what the project generator model does. It’s our land, and we partner with good quality people that can fund a project, and that’s how they earn into it as well. Maurice Jackson: Do you currently have a joint-venture partner? If yes, who and what are the terms of the relationship? Ross McElroy: We have had joint-venture partners in the past, and very successful ones. As I mentioned earlier on our Waterbury project, we had a partner with the Korean utility called KEPCO. It earned in by spending a certain amount of money on the property each year over the course of a three-year period.
What we did with that, we were able to make a discovery, using the money in that project, we made a discovery, built up the resource estimate on there, and eventually sold that asset. That was how our shareholders were able to take advantage of our monetizing on the property.
I guess we could say the same at the PLS project, which we now own 100% of it, but that was also a partnership. We shared in the risk early on and in the money early on with our partner. We eventually bought them out in 2014. That was another example of a successful joint venture partnership.
Each one of the deals would be a little bit different from each other. It is a model that we think works very well. I will note that in our property down in Peru as well, we have a partnership that we’re still looking to finalize the deal. This is one where another group has approached us, said it’s interested in the potential of a property down in Peru. It will spend a significant amount of money having us as the operator. Hopefully we’ll make a discovery down in Peru as well. Maurice Jackson: Well, you’ve just alluded to my next question. Fission 3.0 has 18 projects in its project bank. Now, it is strategically located in premier, high-grade uranium districts in Canada and Peru. Mr. McElroy, introduce us to the Fission 3.0 Project Bank (click here). Ross McElroy: We have 18 properties in the Athabasca Basin. Our properties, we think that everywhere in the Athabasca Basin has the potential to host high-grade uranium projects.
One of the keys that we seek to identify are deposits that will be shallow. In other words, the closer a deposit is to surface, the easier it is to build a case that this could be a project that could go into production. It’s an easier mine to develop the closer it is to the surface.
Really deep deposits are challenging. They still exist, but they’re challenging. Eventually they cost more money to find and cost more money to get out of the ground. They’re just another level of challenge.
If you look at our 18 properties, they’re all in and around the edge of the Athabasca Basin, where we’ve had a great deal of success finding near-surface mineralization.
Our PLS project that hosts the Triple R deposit in Fission Uranium is a great example of a near-surface deposit. The mineralization starts at 50 meters below the surface, so 150 feet below the present-day surface is where the high-grade mineralization starts. That makes it a potentially open-pit deposit, which is generally low cost and gives you a lot of flexibility.
This is the sort of thing that we’re looking for in Fission 3.0. We’ve got very good properties that are in known mining districts, conversely, we have a good portfolio of ground around the southwest side of the basin where our PLS project in Fission Uranium is hosted, and also NexGen’s Arrow deposit, it’s all in that same area. We have the significant land package that surrounds that area.
We also have a good strategic land package in and around the Key Lake area on the southeast side of the basin. This has been, and still currently is the hot bed of uranium mining in Canada right now. This is the side of the basin where the McArthur River and Cigar Lake deposits are located.
McArthur shut down for economic reasons waiting for higher uranium prices. It was an operating mine up until about a year ago, and Cigar still is in operation. You’ve also got the Key Lake mine.
It’s a strategic area to have a good land package. We think there’s lots of opportunities in and around land in that area to make a new discovery.
And probably third for us is the land package that’s up in the northwest side of the basin, in the old uranium city Beaverlodge district where uranium mining in Saskatchewan first got started back in the 1950s and was the going concern back in the ’50s and the ’60s, I think there were about 52 operating mines up in that area, pretty small scale most of them, but still lots of high-grade uranium. That’s an area where we think that there’s still plenty of exploration potential.
Between all those areas, we’re going to be active and we’re going to be looking for the next high-grade uranium deposit in Saskatchewan. Maurice Jackson: Speaking of being active, is there active drilling going on right now in these projects? Ross McElroy: There is active drilling. We did drill in the southwest side of the basin. We were drilling in January on our PLN project. That project is just immediately north of Fission Uranium’s PLS project.
You’re really talking about the same area where the latest discoveries have been found, where you’ve got the Triple R deposit, you’ve got NexGen’s Arrow deposit. These are two of the best new deposits that have been found in the Athabasca Basin in the last 15 years.
We have a package around there called PLN, and we did drill six holes in there earlier this year. It has the potential to host another one of these fantastic deposits, so we are going to continue looking there. We see all the signs present that tell us that this is where we’ll make that discovery.
As we’re speaking right now, we’re drilling over in the Key Lake area that I described earlier. This is over on the southeast side of the basin, about 200 kilometers to the east of the PLS drilling. That is a program where we’ll drill probably eight or nine holes, just south of the Key Lake Mill and the old historical Key Lake deposits. There’s areas of activity there. We’ll continue drilling throughout the rest of 2019 on a number of our projects.
Fission 3.0 is active. We were able to raise some significant money early in the year, in late 2018. We’re going to be active. This is how we’ve been successful in the past, is by being aggressive, looking in places where people probably haven’t looked for a while or never even thought to look, and putting our technical team to work. Yes, you’ll see pretty good news flow out of Fission 3 this year. Maurice Jackson: Ross, let’s expand the narrative on the project bank portfolio and go south into Peru. What can you share with us there? Ross McElroy: Peru is a really interesting area. Where our projects are is called the Macusani Plateau, located in southern Peru, near the Bolivian border. The Macusani Plateau has shown at least over 100 million pounds in near-surface uranium deposits.
There’s a company down there that’s quite dominant called Plateau Energy. Plateau has been able to stake a lot and consolidate a land package in the area, and consolidated all these old deposits. It has amassed around 100 million pounds of uranium in these uranium deposits.
However, even more significant, Plateau made a discovery of high-grade lithium in the same area, and in fact, that’s within five kilometers of our southern property boundary on our Macusani plains. Not only do we have the potential now to host near-surface uranium deposits, and we have shown in fact that we do have mineralization on our property for uranium, we’ve mapped it, we’ve drilled, we’ve trenched and found high-grade uranium, but now the potential’s there for hosting high-grade lithium.
This is really a new dimension that we have down in that area, that we wouldn’t have had say, two or three years ago when we were last down drilling. You’ve got uranium, and now we have lithium. It’s a very interesting up-and-coming area as well. Maurice Jackson: Switching gears, Fission 3.0 has the right projects in the right place at the right time. But that’s only part of the story. Equally important are the people that are responsible for increasing shareholder value. Mr. McElroy, please introduce us to your board of directors. Ross McElroy: Thank you, and I appreciate that. We do have a very successful team. Our founder of Fission 3.0 is also the same CEO and founder of Fission Uranium, and previously Fission Energy before that, and Strathmore.
Dev Randhawa has been involved in this company right from the get-go in its first iteration back in 1996, and also heading up Fission 3.0. Dev is the longest running CEO in the uranium sector.
Myself, I’ve been involved with Dev 12, 13 years now. We’ve had a great successful relationship. We’re able to raise money, raise attention, put that money to work, make discoveries, and basically build shareholder value right from the bottom up.
This is the group that I think, we’ve been able to deliver in the past, and we’re going to be able to deliver shareholder value as we move forward in this much improving uranium sector.
A lot of the same players that we’ve had all the way along, still keep also in the Fission 3 group. Maurice Jackson: Who is on your management team? Ross McElroy: The management team is composed of our CEO Dev Randhawa and chairman. I am the chief operating officer, and also the chief geologist. We have maintained the same structure that we have in Fission Uranium, is the same that we have in Fission 3.0. It’s a fairly lean team. Phil Morehouse is president of Fission 3.0. We kept a pretty lean mean machine in Fission 3.
Don’t forget, we’ve had up until just recently in the last six months, it’s been a very quiet company, there hasn’t been a lot of exploration activities in the uranium sector. I think as we start to ramp up, with our level of activity increasing, we’ll start to draw more and more people into roles and developing roles within the company as we begin to be active, get out and start marketing the story more, get on the ground and back that up with real results, we’re going to continue to build our team. Maurice Jackson: Before we move on to your impressive technical team, in the natural resource basis, why is it wise to follow proven winners? Ross, you alluded to it earlier, you and CEO Dev Randhawa have a proven pedigree of success. How were shareholders rewarded as far as returns for their loyalty to sticking with your team? Ross McElroy: Well, if you owned the original company at the beginning, which would’ve been Strathmore Minerals, and you’d held on it to all the way throughout, over the last 20 years since about 1996, 97, you’d probably own about five different companies right now.
What’s happened is we’ve moved on to a new phase, we’ve made discoveries, advanced projects, sold different projects to different groups. What we’ve been able to do is form new companies, split off new companies in what they call a butterfly transaction.
You have shares in the new company, still maintain your shares in the old company, so you would’ve received essentially what would look like dividends in the way of different shares for five different companies since that time. The shareholders that have been loyal and sticking with us would’ve succeeded quite handsomely all the way along. Maurice Jackson: Your technical team is exceptional. I had an opportunity to meet them in the summer of 2016 at the site visit there. Please, introduce us to them. Ross McElroy: We’re very, very proud of this group. This has been the team we’ve had, the same core group of people with us since 2010. With that same group, we were able to make our discovery on the Waterbury Lake project, and then followed up in 2012 with the discovery of PLS. It’s the same group that is very core and important to us in Fission 3.0.
I do head up the team and the technical group, so I would be the team leader or chief geologist for the technical team. My right hand guy is Raymond Ashley, he’s the VP of exploration. Ray is an excellent geoscientist who I’ve had the pleasure to work with for over 30 years in this sector, so we’ve been working pretty close together. Definitely a proven mine finder.
We’ve basically held the same group of people together on the project managers, all the structural scientists, geochemists. We’ve kept the same core group together over the last almost 10 years or so.
To me, that’s really the key. You want a team that works together well, good chemistry with each other, the ability and the environment to think outside of the box. Really, the goal for each and every one of us is to responsibly make world-class discoveries. That’s what we’re all about.
We’ve got an excellent team. All the key people are listed on the website. You’ll be able to go there and see the roles of the various groups there in the technical team, but there’s about seven or eight of us that have been able to be what I consider the core team for the last decade or so. Maurice Jackson: Let’s get into some numbers. Please share your capital structure. Ross McElroy: In Fission 3.0, we have 142 million shares outstanding. We were able to raise a significant amount. We have just under $7 million in the treasury right now, that’ll allow us to be active over the next two years or so. Maurice Jackson: What is your burn rate? Ross McElroy: The burn rate, because it’s exploration, it’s pretty discretionary spending. We have $7 million that we have in the treasury right now, that’ll certainly carry us over the next two to three years of pretty aggressive exploration spending on our key projects. We can dial that kind of number up, and we can dial it back as conditions warrant. That’s the benefit of being in exploration.
The burn rate is actually pretty minimal. In other words, we run a pretty lean shop as far as the number of management and corporate costs. Really, the majority of the costs are exploration spending, which is really entirely discretionary. Maurice Jackson: How much debt do you have? Ross McElroy: We have no debt. We’ve not taken on any debt. Basically, the money that we raise have been through equity share offerings. No debt in Fission 3.0. Maurice Jackson: Who are your major shareholders? What is their level of commitment? Ross McElroy: When we spun off Fission 3.0 back in December of 2014, it was the same shareholders that were shareholders of Fission Uranium, were the same shareholders in Fission 3.0. We would’ve had a lot of the same loyal, large shareholders, including JP Morgan, even investment from others that we’ve had along the way. It’s been the same loyal group.
We have significant new shareholders now with the financing that we did back in 2018, which was led by the Sprott Global Resources Group out of California. I think we have some new players back to the game, but we have a lot of shareholders that have been with us over the long haul.
These are people that have a good vision of the uranium sector. They know that the good times are around the corner. It’s a point that we believe really strongly, and we think that the sector is improving a great deal.
This is how our loyal shareholders are going to be rewarded, by being a much better market with an aggressive team like Fission 3.0, and the new shareholders will probably be long term loyal shareholders too if we’re successful and able to build value for them as well. Maurice Jackson: What is the float? Ross McElroy: Fully diluted, we have 227 million shares. We’ve got shares outstanding, we’ve got options and warrants that we’re a part of financing as well, so 227 million shares out in total. We trade around 240,000 shares a day, I think that’s our average volume. Maurice Jackson: Multi-layered question. What is the next unanswered question for Fission 3.0? When can we expect a response? What determines success? Ross McElroy: Well, we are going to be successful through work. We know that a better market should buoy the price up of everybody involved in the nuclear sector. They’re starting to get some life back in the exploration world.
Really, we’ve always built value by our success. We’ve been successful with making discoveries. We now have the money, we have the team, we’re putting them to work. I would look to us as being one of the most dynamic uranium explorers out there. That’s something that I think people can follow, they can see our news release cycle, they’ll see how we’re marketing our story, and just look at the results. I think they’ll speak for themselves.
We’re looking at our projects, we’ll be active throughout the calendar year. I think the news flow will be very strong and steady. People that are interested in following the company will always see that there’s a continuing narrative out there. We want to take advantage of this and improve the uranium market, the fact that we are well financed, and we have the properties that we want to explore. I think there’s a very good opportunity for readers to look at Fission 3.0 as a sector leader in the uranium exploration business. Maurice Jackson: Mr. McElroy, last question. What did I forget to ask? Ross McElroy: I think we’ve covered a lot of ground here, and a lot of important ground. One of the takeaways that I want readers to know is we really do believe in the nuclear sector. We think that we have turned the corner and that conditions are improving.
If people are looking to invest in the uranium sector, I think it’s important for them to look at a group that has done it before. Your track record is very indicative of what your future has the potential to look like. I always find myself, when I’m investing, I like to back teams with a proven track record.
We have that in our group. We’ve got an exceptional management team. We’ve done it before. We’ve been able to capitalize on our discoveries by selling assets. We have a unique technical team that has the ability to make discoveries.
So better sector, very good team. Strong management. Those are the ingredients we need to be successful. Maurice Jackson: Ross, for someone listening that wants to get more information about Fission 3.0, please share the website address. Ross McElroy: Our website address is www.fission3corp.com. Maurice Jackson: For direct queries email ir@fission3corp.com, or you may call (778) 484-8030. Fission 3.0 trades on the TSX:V, symbol FUU, and on the OTC, symbol FISOF.
For audience, we’ve been proud shareholders of Fission 3.0 since 2014. Last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Ross McElroy of Fission 3.0, thank you for joining us today on Proven and Probable. Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world. Disclosure:
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Judson Culter the CEO and Director of Rover Metals (TSX.V: ROVR | OTCQB: ROVMF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of the Cabin Lake Property. In this interview Mr. Culter will provide important updates on the Uptown Gold Property, Cabin Lake Project, and Slemon Lake. Rover Metals is a natural resource exploration company specialized in Canadian precious metal resources (specifically gold). In this interview we will discuss the recent accomplishments of Rover Metals. Ranging from IPO and the implementation of a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program.
Firm Advancing Gold Exploration in the Northwest Territories Contributed Opinion
Source: Maurice Jackson for Streetwise Reports (3/10/19)
Judson Culter, CEO of Rover Metals, speaks with Maurice Jackson of Proven and Probable about historical exploration on his company’s properties, as well as current exploration plans.
Maurice Jackson: Welcome to Proven and Probable. I’m your host, Maurice Jackson, and joining us for our conversation is Judson Culter, the CEO and director of Rover Metals Corp. (ROVR:TSX.V; ROVMF:OTCQB). Mr. Culter, welcome to the show. Judson Culter: Thanks for having me, Maurice. Maurice Jackson: Glad to have you back on the program. We last spoke in January of 2018, and since then Rover Metals has completed its IPO and implemented a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program. But before we begin, Mr. Culter, for first time listeners, who is Rover Metals? Judson Culter: Rover Metals, we are a precious metal exploration company, specifically gold is our focus currently. We’re co-listed in the United States OTCQB: ROVMF, as well as Canada on the TSX.V ROVR. Our project portfolio is concentrated in and around Yellowknife’s Northwest Territories, one of the most mining friendly jurisdictions in Canada and for North America for that matter. I say that just because that’s where our (Canada’s) diamond mines are. That’s historically where several of our gold mines have been. It’s really the primary employer in the Northwest Territories. Outside of government, mining is it. Maurice Jackson: Why has Rover Metals received so much interest here of lately? Judson Culter: I think that’s a two pronged answer. First is just credibility. Going back to 2017 on call with you, Maurice, if one listens to that interview, we talked about how we were going to go public, and how we were going to drill our resources, and how we were going to look to add new resources in the similar area code of Yellowknife.
We’ve successfully accomplished all those tasks. I believe we have strong foundational base in our existing shareholders. We’ve got a lot of credibility with them. We get a lot of word of mouth. I think that goes a long way in a market that can be a little bit over saturated in the junior mining space with which projects or which management teams do you back. I think really that we’ve gotten recognition for that now, which is really helping to drive our current success.
The second prong answer speaks to the projects themselves. Rover has the Cabin Lake Project, which is really what the market is asking for, and that’s why we bought it. When we receive the results from our drilling, we believe we will a high-grade gold historical resource that will contain super high grades that the market wants to see as confirmation that this really could be the next gold mine in the Yellowknife, Northwest Territories.
Not to mention this project itself has all the merits a speculator wants. We have solid infrastructure, the Blue Fish Hydro Dam, roads, all the accessibility and proven area of past producers. The market is beginning to recognize the credibility of the management team and the assets. Also, the awareness that we are near drilling in the not-too-distant future has investors’ attention as well. Maurice Jackson: Justin, what is the driving thesis for Rover Metals in regards to the Kevin Lake gold project? Judson Culter: The driving thesis has not changed. It’s the same thesis as in the late 1980s. There’s a project called the Lupin Gold Mine that produced from 1983 to 2003 in the north, which is an iron formation, super high-grade gold. The thought at the time was to go and find another one, and that’s what they thought they had here. This is when Cominco and Freeport McMoRan and then Aber Resources, that’s what they thought they had here. They drove 7,500 meters of at or near-surface iron hosted high-grade gold. The only reason they stopped is because somebody found kimberlites a few years after, and the diamond boom in the Territories began.
This project just kind of sat on the back burner as a result of that. Aber Resources, the owner of the time, of course, went on to find the kimberlites. That’s some historical context on this project and why it’s just now coming back to life. Maurice Jackson: Talk to us about the business acumen here. When and how was Rover Metals able to acquire the Cabin Lake gold project in such a highly contested and sought out district? Judson Culter: It wasn’t easy; when we looked at the business case, we figured that with a little bit of just rolling up our sleeves, and getting up there, and meeting the right stakeholders, and just recognizing that this is an area that needs new mines and new projects.
I didn’t think it would be like other areas in British Columbia, for example where BC, trying to get First Nation endorsement can be very difficult. There’s so many competing industries that people can really make a way of life in a jurisdiction like British Columbia, whereas knowing a little bit about the Northwest Territories, mining is a big deal up there. People want to see projects succeed.
When we went into the Cabin Lake project, we knew we had to get a couple of things there to get permits. We knew we had to get our neighbors, Tlicho First Nations, on board. We also did our homework and knew that the Tlicho First Nations had previously worked with Fortune Minerals, as well as Nighthawk Gold. When we got to it, there was a framework in place. There was a government that had been formed.
The Tlicho government and the land use formal plan to work within, for application permits, and applications. So, once we got to it, it ended up only being four months to get it permitted. I think it seemed to keep getting easier for us, and it ended up being a decision that looks like it was the right one to make. Maurice Jackson: Regarding mineral rights in your project portfolio, are there any reversionary interests? Judson Culter: There’s a 1.5% NSR that we’ve got viable down to a half percentage point for CA$250,000 per quarter percentage. Maurice Jackson: And does Rover Metals own the mineral rights outright 100%? Judson Culter: That’s correct. Yes, not just at Cabin Lake, but at the Cabin Lake group of projects. The claims themselves are 10 kilometers apart; so there’s three of them. For the entire group of projects, yes, we have 100% mineral right interest. Maurice Jackson: Let’s fast forward to 2018 and discuss your exploration program. What were the results from that program and how has that improved the confidence in the gold project? Judson Culter: It helped us to better track the iron information. So what we did was we spent the six months from March, when we acquired the project, into October, really to digitize all the historical records. At the time in the 1980s, that was meticulously kept, and it was handwritten. We digitize seven banker boxes of data, as well as three map boxes. Then, we put that in a GPS, and tag the colors and everything else.
Then what we wanted to do to follow on with that data was to run a current, modern-day geophysical program. There were a lot of options to us to do it, but in a really economical manner, but also to do it in a very detailed type formation using a drone. Because the mineralization occurs at or near surface, as well as the iron information itself being at or near surface, it really showed up well on the magnetic survey that we flew over the property. So by interlaying the drill results, as well as the mag survey, our geologist was able to get a better interpretation of the iron formation throughout the project. Really, that really set the stage for where we are going to put the drill when we get to drilling this year in 2019.
Beyond just the iron information, what we also realized about the project is the outcropping on either side is quartz. Historically, the quartz had never been tested for mineralization. So we also did a geochemistry program in October. What that showed us is that the PPM and PPB reading of gold from the quartz outcrop area suggest that it’s also very likely to be a host for gold on this project. It’s never been tested historically. That’s the excitement of 2018 and what’s led into the 2019 drill program, which was always trying to be between March and the end of April. We’re still trying to hold on to that deadline.
We’ve got the collars is ready to go. Right now, we believe what we need to do to start drilling is conduct a small financing that we’ll probably release in the coming week or two here. Maurice Jackson: So to review the value proposition we had before. This is potentially an open-pitable, early-stage brownfield exploration gold project with historical high-grade resource next to a new cobalt-gold mine, is that correct? Judson Culter: Yes, and that’s one thing I didn’t touch on is the actual historical resource itself. That’s 85,000 ounces unconfirmed in terms of what our current standards allow us to document as a historical resource. What we’re allowed to document in press releases and everything else is 50,000 ounces of roughly 10 to 12 grams gold per ton. The rest of that 35,000 ounces was never signed off by a Qualified Person, but it is in the NORMIN database in the Northwest Territories. It’s in the areas of the Andrew zone, which we’ve documented. Rover will do the work we need to do under 43-101 standards to take that other 35,000 ounces and get it compliant.
From our side internally, we see it as an 85,000 ounce of resource of 12 grams per ton gold on average. When we talk about it publicly, we have to say, 50,000 from a historical resource perspective, but you’re absolutely right that we’re 20 kilometers away from what’s looking to be Canada’s first cobalt mine. The reason I say that is this project’s been 20 years in the making; it’s at the feasibility stage. I believe they’re really just looking to raise the capital to get to work. It’s an open-pitable cobalt mine. The good news is it’s actually a cobalt gold bismuth. So there is a gold processor that’s going to be built 20 kilometers from us. What better news can you possibly have when you’re developing an at-surface resource? Maurice Jackson: The location in of itself makes the opportunity quite interesting, but to have open pit to me is icing on the cake. Is the goal to sell the project or develop into a commercial scale mine? Judson Culter: Definitely the goal is to sell it within the next three years, and so I want to put $10 million in the ground, and let’s get this wrapped up and sold. End of story. Maurice Jackson: What can you share with us regarding the infrastructure? Judson Culter: So what you see in Yellowknife right now is what’s going to be coming in the pipeline in the next two to three years in the Pine Point Zinc mine is going back into production and that’s Osisko. Part of that is twining the costs in Taltson Hydro Dam and bringing that into Yellowknife itself, as well as Hay River. There’s going to be federal funding allocated, as well as territorial, to do an environmental study that should be announced through fairly short order this year.
After there is a federally funded environmental study to evaluate the twinning of the Taltson Hydro Dam, a successful outcome will lead into a hydro power upgrade to Yellowknife. When Yellowknife is upgraded, that will free up excess hydro power at the Snare and Strutt Lake hydro dams, located approximately 5km away from Camp Lake, one of our claims that’s part of the Cabin Lake group. That power becomes excess power. All of a sudden that frees up for the future the viability of really selling the project because now you’ve got excess power sitting right there, five kilometers away. How good is that? Maurice Jackson: Switching gears. Rover Metals’ board of directors and advisors consists of the following people: Maurice Jackson: Bios for the management time are below: Maurice Jackson: Let’s discuss some numbers. Please share your capital structure. Judson Culter: We’ve got 47 million shares out today. That’s our issued and outstanding common shares. There are warrants out there. We have 10 million warrants at $0.20 cents, and 10 million warrants at $0.25 cents. Maurice Jackson: How much cash and cash equivalents do you have? Judson Culter: Treasury is sitting today around CA$450,000. Then, there’s been some prepayments for upcoming work commitments regarding our exploration plans for this year, as well as I mentioned, we’re doing a lot of our growth in terms of our marketing and our shareholder base in the United States. I think our prepaid balance, if you were to look at that today, should be around CA$200,000, just in terms of for events, as well as I mentioned, exploration planning. If you add that back to our cash position, we’re around CA$650,000 in current assets. Maurice Jackson: What is your burn rate? Judson Culter: Our burn rate’s about CA$30,000 a month, and that just includes all in. We purposely don’t carry an office in this market. We’re a bootstrap company. We have home offices, and then we’re on the road a lot. We’ve got an exploration office that is free from our exploration partner, Aurora Geosciences. That’s really where a lot of the hard work gets done. Then, there’s just no corporate office. I don’t feel the need for that, so that helps. Maurice Jackson: How much debt do you have? Judson Culter: We have some trade payables of, I think it’s roughly CA$40,000 that we’re going to settle in shares. Outside of that, we’ve got CA$25,000 in payables on top of that, that we’re going to pay in cash. That’s just some exploration legacy from last year. Maurice Jackson: Who is financing the project, and what is their level of commitment? Judson Culter: Just sophisticated mining investors. It’s been high net worth, accredited investors to this point. That will continue until we become a $10 million market cap company plus, because we’re just still not able to access institutional funds, and that’s fine. If Rover does everything that we hope to accomplish in the next drilling phase, which we hope is in the next 60 to 90 day window here, we should be a $10 million market cap plus company; and well on our way to institutional money. Maurice Jackson: Who are the major shareholders? Judson Culter: I’m a major shareholder. I’ve been seeding Rover not just with time, but my own money; since really inception in 2014. Tookie Angus, who is an advisor, is currently our third largest shareholder. Then, it really starts to break down to smaller tranches, but there is a notable name on the list: Ashwath Mehra, the chairman of GT Gold; he’s a relatively large shareholder.
Management, including Ron Woo. Ron’s also seeded this company. I think Ron’s probably fourth largest shareholder. Keith Minty’s a large shareholder; 38% of our outstanding shares are owned by insiders, management, board. That’s a good thing because that means our shares are tied up for three years. Maurice Jackson: Judson, based on the data available, what type of value proposition do we have in comparing? Judson Culter: Well, the market price, let’s just say, I think it should be $8.5 million, just on what we set out today. That’s my personal opinion. I think later value that, that’s just the reality of reserve stocks in North America. We’re going to do what we need to do to take that historical resource and bring it up to current standards, as well as to just extend where they stopped drilling, and just show them this really is a multimillion ounce potential asset.
I think we can get there with the drill program that we’re planning. We’re planning roughly a thousand meter program. I think the value proposition is we’re in a $3.5 million market cap today. I think we’re going to take it to $10 to 15 million in the next six months. Hold me to that. Maurice Jackson: I certainly will, sir. Multi-layered question here: what is the next unanswered question for Rover Metals? When can we expect the response? How much will the response cost? What determines success? Judson Culter: That’s going to be our Q1 or Q2 exploration drill campaign. I was going to caveat that, that is subject to the future success of our financing effort (click here), which we hope to announce in roughly two weeks’ time.
That will lead into confirmation of the historical high-grade gold results, such as the open-pit economics, expand upon the known mineralization in the iron formation, as well as to prove up a larger area play and this is more Q2/Q3 work, for the Slemon Lake, and Camp Lake claims, which are located 10 kilometers northwest from Cabin Lake, and we’ll fly that with an aerial B10 survey. What that will show is that the drilling we’ve done at Cabin Lake in the iron formation really just, those other two claims, or districts, an extension of the same geology, which everything that we’ve read historically shows us it is. Maurice Jackson: Mr. Culter, please share the contact details for Rover Metals. Judson Culter: Please visit our website www.RoverMetals.com. On there, you’ll find our social media links, which are LinkedIn, Twitter, our Facebook page and CEO.ca.
Our social media channels really have daily content. We’re press releasing every couple of weeks, but a lot of our investors like really the daily updates on what’s going on in the Northwest Territory. That’s the best place to stay tuned.
You can also submit to our mailing list. We typically will do an email update every two weeks as well. If you go to the bottom of the homepage on the website, and just submit your email, that subscribes you to our email mailing list. Maurice Jackson: And last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Judson Culter of Rover Metals, thank you for joining us today on Proven and Probable. Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.
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1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Rover Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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VANCOUVER , March 4, 2019 /CNW/ – Rover Metals Corp. (ROVR.V) (ROVMF) (“Rover Metals” or the “Company“) is pleased to announce its intention to complete a non-brokered private placement of units (the “Units“) at a purchase price of $0.08 per Unit, for aggregate gross proceeds of up to CAD$1,250,000 (the “Offering“). Each Unit shall consist of one common share in the capital of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“). Each Warrant shall entitle the holder to acquire an additional Common Share at a price of $0.15 per share for a period of 24 months following the date of issuance.
Rover Metals anticipates using 80% of the proceeds of the Offering to finance exploration activities at the Cabin Lake Gold Project and remaining use of proceeds for general and administrative expenses.
The Company may pay finder’s fees in accordance with the policies of the TSX Venture Exchange in connection with the Offering.
Rover Metals anticipates relying, in part, on the exemption from the prospectus requirements provided in BC Instrument 45-534 – Exemption From Prospectus Requirement For Certain Trades to Existing Security Holders (the “Existing Shareholder Exemption“). The Company may also rely on other available prospectus exemptions.
Rover Metals has set March 1, 2019 as the record date for determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. If the Offering is over-subscribed, Units will be allotted on a first come first served basis. Qualifying investors who wish to participate in the Offering should contact the Company using the contact information set forth below. It is anticipated that the Offering will close in one or more tranches commencing on or about March 15, 2019 .
All securities issued under the Offering will be subject to a hold period of four months and a day from the distribution date, in accordance with applicable securities laws. Completion of the Offering is subject to the receipt of all applicable approvals, including the approval of the TSX Venture Exchange.
About Rover Metals Rover Metals is a natural resource exploration company specialized in gold that is currently focused on the Northwest Territories of Canada , one of the most mining friendly jurisdictions in North America . The Cabin Lake Group of High Grade Gold Projects are located within 20km of Fortune Minerals’ (FT.TO) planned NICO Project gold processor.
ON BEHALF OF THE BOARD OF DIRECTORS OF ROVER METALS “Judson Culter” Chief Executive Officer and Director
Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking statements in this document include statements regarding Rover’s expectations regarding the issuance of Units and receipt of regulatory approval therefor and the use of proceeds from the Offering. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE
Toronto, Ontario–(Newsfile Corp. – June 23, 2026) – Coyote Copper Mines Inc. (TSXV: CCMM) (“CCMM” or the “Corporation”) announces that further to its news releases dated May 13, 2026, May 25, 2026, June 2, 2026 and June 15, 2026 it has closed the final tranche (the “Final Tranche“) of its previously announced non-brokered private placement financing of up to 34,353,483 Units issued at a price of CAD$0.25 per Unit with each Unit consisting of one (1) fully-paid Common Share (a “CommonShare“) and one half (½) Common Share purchase warrant (a “HalfWarrant“) in the capital of the Corporation, for aggregate gross proceeds of $8,588,370.75 to be used for exploration and general corporate purposes (the “Offering“).
Two Half Warrants will entitle the holder thereof to purchase one common share of the Corporation. Each Warrant will expire thirty six (36) months from the date of issue and will entitle the holder thereof to purchase one Common Share at a price of CAD$0.50 per Warrant Share within 36 months from the date of issue.
An aggregate of 20,956,830 Units was sold under the First Tranche for total gross proceeds of C$5,239,207.50
An aggregate of 13,396,313 Units was sold under the Final Tranche for total gross proceeds of C$3,349,163.25
In connection with closing of the financing, the Company paid aggregate finder’s fees consisting of (i) C$528,085.00 (the “Cash Consideration”) and (ii) 1,836,260 compensation warrants (the “Compensation Warrants”) to eligible finders. Each Compensation warrant entitles the holder to acquire one Common Share at a price of C$0.50 per Common Share for a period of 36 months from the date of issuance of the Compensation Warrant.
The closing of the Financing is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange. All securities issued and issuable pursuant to the First Tranche of the Offering are subject to a four-month plus one day hold period commencing on the date of issuance.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.
as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Corporation has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Corporation does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Strategic framework meets businesses where they are today, identifying Transformational AI enabled value creation opportunities
DALLAS, TX / ACCESS Newswire / June 23, 2026 / AIAI Holdings Corporation (NASDAQ:AIAI) (“Ai2” or the “Company”), an AI-enabled diversified holding company utilizing Transformational AI (TAI) to enhance portfolio performance, today announces its strategic and comprehensive post-acquisition AI integration framework, pursuant to which it will identify, design, and implement AI-enabled value creation opportunities across the Company’s portfolio businesses. This disciplined, repeatable playbook is expected to move portfolio companies from initial operational assessment to active Transformational AI implementation, fundamentally redefining their financial potential.
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AIAI Holdings Unveils AI Integration Playbook for Portfolio Companies
Strategic framework meets businesses where they are today, identifying Transformational AI enabled value creation opportunities
DALLAS, TX / ACCESS Newswire / June 23, 2026 / AIAI Holdings Corporation (NASDAQ:AIAI) (“Ai2” or the “Company”), an AI-enabled diversified holding company utilizing Transformational AI (TAI) to enhance portfolio performance, today announces its strategic and comprehensive post-acquisition AI integration framework, pursuant to which it will identify, design, and implement AI-enabled value creation opportunities across the Company’s portfolio businesses. This disciplined, repeatable playbook is expected to move portfolio companies from initial operational assessment to active Transformational AI implementation, fundamentally redefining their financial potential.
“Transformational AI is intelligence grounded in a business’s actual operations, acting as a core driver of value rather than an add-on,” said Todd Furniss, Chief Executive Officer and Co-founder of AIAI Holdings Corporation. “At Ai2 we don’t sell this technology, we buy companies then bake it into their DNA, converting complex services into durable cash flows. This requires meeting each portfolio company where it is today, understanding its workflows and data environment, and then building the appropriate foundation for AI-enabled value creation. Disorganized or incomplete data is not a weakness; it is the norm. Identifying, organizing, and analyzing that information is a critical part of the transformation process. Once that foundation is in place, we can implement targeted AI and operational strategies designed to drive both revenue growth and EBITDA expansion wherever the greatest opportunities exist.”
The framework provides Ai² with a disciplined, repeatable process for assessing newly acquired and existing portfolio companies, identifying practical AI-enabled value creation opportunities, evaluating operational and data readiness, and developing phased implementation plans that can be executed responsibly over time.
The Company is also pleased to announce that C.C. Carlton Industries (“CCCI”), a wholly owned subsidiary of Ai² and a Central Texas construction company with more than 30 years of operating history, is among the first Ai2 portfolio companies to move through the Company’s structured Transformational AI assessment and onboarding process.
“C.C. Carlton Industries is excited to be an initial benefactor of Ai²’s Transformational AI integration framework,” said Ben Lyon, CEO of C.C. Carlton Industries. “As an operating business with established workflows, project complexity, customer requirements, safety considerations, and opportunities for process improvement, we believe TAI assessment process can help identify practical opportunities to improve efficiency, quality, safety, speed to completion, and decision-making over time.”
The Company expects that early implementation work will help establish repeatable processes and reusable AI tools that can support future acquisitions and additional portfolio company integrations. Over time, Ai² intends to build a portfolio-wide Transformational AI playbook that can support faster assessment, improved execution and scalability across diverse industries.
Strategic framework meets businesses where they are today, identifying Transformational AI enabled value creation opportunities
DALLAS, TX / ACCESS Newswire / June 23, 2026 / AIAI Holdings Corporation (NASDAQ:AIAI) (“Ai2” or the “Company”), an AI-enabled diversified holding company utilizing Transformational AI (TAI) to enhance portfolio performance, today announces its strategic and comprehensive post-acquisition AI integration framework, pursuant to which it will identify, design, and implement AI-enabled value creation opportunities across the Company’s portfolio businesses. This disciplined, repeatable playbook is expected to move portfolio companies from initial operational assessment to active Transformational AI implementation, fundamentally redefining their financial potential.
“Transformational AI is intelligence grounded in a business’s actual operations, acting as a core driver of value rather than an add-on,” said Todd Furniss, Chief Executive Officer and Co-founder of AIAI Holdings Corporation. “At Ai2 we don’t sell this technology, we buy companies then bake it into their DNA, converting complex services into durable cash flows. This requires meeting each portfolio company where it is today, understanding its workflows and data environment, and then building the appropriate foundation for AI-enabled value creation. Disorganized or incomplete data is not a weakness; it is the norm. Identifying, organizing, and analyzing that information is a critical part of the transformation process. Once that foundation is in place, we can implement targeted AI and operational strategies designed to drive both revenue growth and EBITDA expansion wherever the greatest opportunities exist.”
The framework provides Ai² with a disciplined, repeatable process for assessing newly acquired and existing portfolio companies, identifying practical AI-enabled value creation opportunities, evaluating operational and data readiness, and developing phased implementation plans that can be executed responsibly over time.
The Company is also pleased to announce that C.C. Carlton Industries (“CCCI”), a wholly owned subsidiary of Ai² and a Central Texas construction company with more than 30 years of operating history, is among the first Ai2 portfolio companies to move through the Company’s structured Transformational AI assessment and onboarding process.
“C.C. Carlton Industries is excited to be an initial benefactor of Ai²’s Transformational AI integration framework,” said Ben Lyon, CEO of C.C. Carlton Industries. “As an operating business with established workflows, project complexity, customer requirements, safety considerations, and opportunities for process improvement, we believe TAI assessment process can help identify practical opportunities to improve efficiency, quality, safety, speed to completion, and decision-making over time.”
The Company expects that early implementation work will help establish repeatable processes and reusable AI tools that can support future acquisitions and additional portfolio company integrations. Over time, Ai² intends to build a portfolio-wide Transformational AI playbook that can support faster assessment, improved execution and scalability across diverse industries.
The Company emphasized that the framework is not intended to represent a complete enterprise-wide transformation of each acquired business. Rather, the objective is to ensure that meaningful Transformational AI integration begins early in the ownership cycle, with selected use cases identified, prioritized, tested, and moved into active implementation during the initial post-acquisition period.
About AIAI Holdings Corporation
AIAI Holdings Corporation (Ai2) (NASDAQ:AIAI) is an AI-enabled diversified holding company that acquires and grows companies across multiple industries. We expect to drive revenue and earnings growth throughout our portfolio by applying exclusively licensed Transformational AI to enhance operational efficiency and financial performance.
Ai2 is building a next-generation model for technology-enabled business operations, which is expected to create sustainable value for shareholders through the strategic integration of artificial intelligence across diverse industries.
This press release contains “forward-looking statements” or “forward-looking information” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and plans of the Company. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our expectations, intentions, beliefs, plans, objectives, goals, strategies, future events or performance, and underlying assumptions. Forward-looking statements are often identified by the use of words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “would,” “could,” “should”, “estimate,” “plan,” “predict,” “project,” “estimate”, or “continue,” or similar expressions, including the negative of these terms or other comparable terminology.
Forward-looking statements are based on the Company’s current expectations regarding its strategy, plans, intentions, performance, or future occurrences or results, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of known and unknown risks, uncertainties, and other factors, many of which are outside of the Company’s control, that could cause actual results, performance, or achievements to materially differ from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to our lack of operating history, our ability to attract new investments, our failure to manage growth effectively, our acquisition activities may pose risks that could harm our business, and our licensed AI may not perform up to the expected standards, as well as general business and economic conditions, competitive pressures, regulatory changes, technological developments, and other factors identified in the Company’s most recent filings with the U.S. Securities and Exchange Commission, including our Registration Statement on Form S-1, which are available for review at www.sec.gov. Furthermore, the Company operates in a competitive environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results.
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AIAI Holdings Unveils AI Integration Playbook for Portfolio Companies
Strategic framework meets businesses where they are today, identifying Transformational AI enabled value creation opportunities
DALLAS, TX / ACCESS Newswire / June 23, 2026 / AIAI Holdings Corporation (NASDAQ:AIAI) (“Ai2” or the “Company”), an AI-enabled diversified holding company utilizing Transformational AI (TAI) to enhance portfolio performance, today announces its strategic and comprehensive post-acquisition AI integration framework, pursuant to which it will identify, design, and implement AI-enabled value creation opportunities across the Company’s portfolio businesses. This disciplined, repeatable playbook is expected to move portfolio companies from initial operational assessment to active Transformational AI implementation, fundamentally redefining their financial potential.
“Transformational AI is intelligence grounded in a business’s actual operations, acting as a core driver of value rather than an add-on,” said Todd Furniss, Chief Executive Officer and Co-founder of AIAI Holdings Corporation. “At Ai2 we don’t sell this technology, we buy companies then bake it into their DNA, converting complex services into durable cash flows. This requires meeting each portfolio company where it is today, understanding its workflows and data environment, and then building the appropriate foundation for AI-enabled value creation. Disorganized or incomplete data is not a weakness; it is the norm. Identifying, organizing, and analyzing that information is a critical part of the transformation process. Once that foundation is in place, we can implement targeted AI and operational strategies designed to drive both revenue growth and EBITDA expansion wherever the greatest opportunities exist.”
The framework provides Ai² with a disciplined, repeatable process for assessing newly acquired and existing portfolio companies, identifying practical AI-enabled value creation opportunities, evaluating operational and data readiness, and developing phased implementation plans that can be executed responsibly over time.
The Company is also pleased to announce that C.C. Carlton Industries (“CCCI”), a wholly owned subsidiary of Ai² and a Central Texas construction company with more than 30 years of operating history, is among the first Ai2 portfolio companies to move through the Company’s structured Transformational AI assessment and onboarding process.
“C.C. Carlton Industries is excited to be an initial benefactor of Ai²’s Transformational AI integration framework,” said Ben Lyon, CEO of C.C. Carlton Industries. “As an operating business with established workflows, project complexity, customer requirements, safety considerations, and opportunities for process improvement, we believe TAI assessment process can help identify practical opportunities to improve efficiency, quality, safety, speed to completion, and decision-making over time.”
The Company expects that early implementation work will help establish repeatable processes and reusable AI tools that can support future acquisitions and additional portfolio company integrations. Over time, Ai² intends to build a portfolio-wide Transformational AI playbook that can support faster assessment, improved execution and scalability across diverse industries.
The Company emphasized that the framework is not intended to represent a complete enterprise-wide transformation of each acquired business. Rather, the objective is to ensure that meaningful Transformational AI integration begins early in the ownership cycle, with selected use cases identified, prioritized, tested, and moved into active implementation during the initial post-acquisition period.
About AIAI Holdings Corporation
AIAI Holdings Corporation (Ai2) (NASDAQ:AIAI) is an AI-enabled diversified holding company that acquires and grows companies across multiple industries. We expect to drive revenue and earnings growth throughout our portfolio by applying exclusively licensed Transformational AI to enhance operational efficiency and financial performance.
Ai2 is building a next-generation model for technology-enabled business operations, which is expected to create sustainable value for shareholders through the strategic integration of artificial intelligence across diverse industries.
This press release contains “forward-looking statements” or “forward-looking information” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and plans of the Company. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our expectations, intentions, beliefs, plans, objectives, goals, strategies, future events or performance, and underlying assumptions. Forward-looking statements are often identified by the use of words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “would,” “could,” “should”, “estimate,” “plan,” “predict,” “project,” “estimate”, or “continue,” or similar expressions, including the negative of these terms or other comparable terminology.
Forward-looking statements are based on the Company’s current expectations regarding its strategy, plans, intentions, performance, or future occurrences or results, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of known and unknown risks, uncertainties, and other factors, many of which are outside of the Company’s control, that could cause actual results, performance, or achievements to materially differ from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to our lack of operating history, our ability to attract new investments, our failure to manage growth effectively, our acquisition activities may pose risks that could harm our business, and our licensed AI may not perform up to the expected standards, as well as general business and economic conditions, competitive pressures, regulatory changes, technological developments, and other factors identified in the Company’s most recent filings with the U.S. Securities and Exchange Commission, including our Registration Statement on Form S-1, which are available for review at www.sec.gov. Furthermore, the Company operates in a competitive environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results.
The forward-looking statements in this press release are based on information available to us as of the date hereof, and we disclaim any intention to, and, except as may be required by law, undertake no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company hereafter become aware. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
West Point Gold CEO Derek Macpherson breaks down the latest high-grade drill results and what they mean for the company future. See why this 66.2 meter intercept at 6.57 GPT Au is a critical indicator for the project’s potential. Netting a 435 Gram/Meter is exceptional!
This update is designed for investors tracking West Point Gold who want a clear view of the company capital structure, ownership, and current analyst coverage. We review the specific technical data from the recent drilling program to provide a grounded perspective on the robust vein system currently being tested.
By evaluating these high-grade drill results, viewers will better understand how the company is positioning its assets within the broader gold mining stocks market. We focus strictly on the data provided by the CEO to help you assess the operational progress and the strategic outlook for the site.
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Few prognosticators and only a rare investor sees the enormous impact Israel’s failed war on Iran will bring. By closing the Strait of Hormuz Iran turned the tide of battle. Their actions have redrawn the borders of the Middle East.
Persia (Now Iran since 1935) was the reigning power in the Middle East for 2500 years when Saudia Arabia and the rest of the GCC were herding goats and sheep. Anyone both sane and fairly sober now recognize the incredible mistake Trump and the US made getting dragged into another war of aggression on Israel’s part. The primary effect of the war has been to reestablish Iran as the dominant power in the region as Israel’s planned “Greater Israel” landed on the garbage heap of history.
There are dozens of surprise knock-on effects from the war that are only beginning to be visible. While closing the Strait of Hormuz effectively won the war for Iran, it also demonstrated the danger of a single country having within its power the ability to destroy the economy of the world. Other oil export dependent countries in the area now recognize the importance of having a Plan-B for moving their products.
While admittedly the ability of the west to tap the Strategic Petroleum Reserves in various countries in conjunction with China dropping its import requirements of crude oil managed to keep the retail price of fuel under control so far, it’s obvious the world needs a number of Plan Bs for all sorts of commodities that prior to the war few recognized.
Uranium is going to be viewed as a more attractive source of energy not subject to the whims of countries in the Middle East. I see the demand for uranium to be used in new reactors increasing a lot. Anything related to agriculture will be viewed as an attractive alternative to supplies dependent on the Middle East.
A company contacted me recently with a compelling fertilizer story. The company is named Sage Potash (SAGE-V) and has a large potash project in eastern Utah. But you need to know a little about growing plants. They need three different chemicals for ideal growth, nitrogen, phosphorus and potassium. Potash supplies the potassium. For the US Canada supplies about 81% of the needed material with Russia providing an additional 15%. The US only produces 5-10% of the potash demanded, the rest is imported. Potash costs about $300 a tonne. The USGS reports that Utah contains about 2 billion tonnes of potash. Sage shows a grade of 36-46% KCL, one of the highest grades reported in the world. Sage plans on using a solution mining technique where they pump brine into a deep well to the location of the 5.5-7.3 meter thick intercept of potash.
Sage reports two beds of high-grade potash, the Upper Cycle 18 measuring 7.26 meter of 46% KCL for 179 million tonnes and Lower Cycle 18 giving 5.46 meters of 35.77% KCL for 128 million tonnes. Sage has begun a drill program designed to expand the resource in the 43-101. The current 43-101 shows an inferred resource of 298 million tonnes at 36-46% KCL. The current PEA demonstrated a NPV of $502 million with an after-tax profit of 39%. The company believes they can release an update 43-101 and results from the current drill program by September. With a current market cap of about $22 million, about 0.4% of the NPV the shares seem absurdly cheap to me.
Sage is an advertiser and I have bought shares in the open market. Naturally I am biased so do your own due diligence. Their only problem is a lack of visibility.
Sage Potash CorpSAGE-V $.13 Jun 19, 2026 SGPTF-OTCQB 171 million shares Sage Potash website
Toronto, Ontario–(Newsfile Corp. – June 17, 2026) – Coyote Copper Mines Inc. (TSXV: CCMM) (“CCMM” or the “Corporation”) announces that further to its news releases dated May 13, 2026, May 25, 2026, June 2, 2026 and June 15, 2026 it has closed the final tranche (the “Final Tranche“) of its previously announced non-brokered private placement financing of up to 34,000,000 Units issued at a price of CAD$0.25 per Unit with each Unit consisting of one (1) fully-paid Common Share (a “CommonShare“) and one half (½) Common Share purchase warrant (a “HalfWarrant“) in the capital of the Corporation, for aggregate gross proceeds of $8,500,000 to be used for exploration and general corporate purposes (the “Offering“).
Two Half Warrants will entitle the holder thereof to purchase one common share of the Corporation. Each Warrant will expire thirty six (36) months from the date of issue and will entitle the holder thereof to purchase one Common Share at a price of CAD$0.50 per Warrant Share within 36 months from the date of issue.
An aggregate of 20,956,830 Units was sold under the First Tranche for total gross proceeds of C$5,239,207.50
An aggregate of 13,043,170 Units was sold under the Final Tranche for total gross proceeds of C$3,260,792.50
In connection with closing of the financing, the Company paid aggregate finder’s fees consisting of (i) C$528,085.00 (the “Cash Consideration”) and (ii) 1,836,260 compensation warrants (the “Compensation Warrants”) to eligible finders. Each Compensation warrant entitles the holder to acquire one Common Share at a price of C$0.50 per Common Share for a period of 36 months from the date of issuance of the Compensation Warrant.
The closing of the Financing is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange. All securities issued and issuable pursuant to the First Tranche of the Offering are subject to a four-month plus one day hold period commencing on the date of issuance.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Cautionary Statement Regarding Forward-Looking Information
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation.
Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding the Offering, the business plans and expectations of the Corporation and expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects management’s current beliefs and is based on information currently available to them and on assumptions they believe to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to those set forth in the Filing Statement under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Corporation has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Corporation does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
South Jordan, Utah and Vancouver, British Columbia–(Newsfile Corp. – June 18, 2026) – Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) (“Sage Potash” or the “Company”) is pleased to announce the Company has now received all required approvals and permits from both the local County and the State of Utah to proceed with drilling operations at its Sage Plain project in San Juan County in Utah. Final approvals were granted following a customary site inspection conducted on May 28, 2026, by representatives of the Utah Division of Oil, Gas and Mining (“DOGM”), accompanied by personnel from Sage Potash and its contractors, along with posting of drilling related bonds.
As previously announced, the Company has engaged Westrock Energy Services (USA) Inc. to oversee and coordinate all aspects of the drilling program, alongside Drake Well Service Inc. as drilling contractor. The Company will be drilling a 1.275 km (3/4 mile) step out hole to the NNE from the maiden hole from which the Company’s current resource is calculated.
Figure 1 – Peterson 1 drill hole location relative to Johnson 1 and hypothetical resource expansion radius at the Sage Plain Potash Project, Utah
Historical drillhole data has identified significant potash mineralization within the Cycle 18 Upper and Lower beds at depths of approximately 2,100 metres (6,890 feet), demonstrating strong economic potential across the Project area. As outlined in the Company’s April 7, 2026 news release, the current drilling program is specifically designed to target these potash-bearing horizons and expand and upgrade the resource confidence levels for what management believes to be one of the most prospective and high-grade solution mining potash targets in the United States.
In addition to confirming potash mineralization, the drilling program will include a comprehensive hydrogeological assessment. The Company plans to conduct targeted Drill Stem Tests (“DSTs”) in formations exhibiting sufficient water flow in order to evaluate yield rates and water quality (primarily targeting saline non-potable aquifers) for future solution mining operations. Fluid sampling and detailed water analysis will also be undertaken to support future processing design and cavern development.
Following completion of coring operations, the open borehole will undergo an extensive suite of geophysical wireline logs. Recovered potash horizon core samples will then be transported to an independent analytical laboratory for detailed geological logging, geochemical sampling, and assaying under strict QA/QC protocols to confirm the grade, continuity, and thickness of the sylvinite mineralization.
“Receiving final approvals marks a major milestone in the advancement of the Sage Plain Potash Project,” stated J. Patricio Varas, Chief Executive Officer of Sage Potash Corp. “Our technical team has designed a focused multi-purpose drill program aimed at generating the critical geological and hydrogeological data required to potentially upgrade the resource and advance the Project toward feasibility studies and detailed engineering. We are confident this program will further demonstrate the quality and scale of the Project while being executed safely and efficiently.“
The Company expects to release an updated resource estimate in Q3 2026, incorporating results from the current drilling campaign and historical drilling data. The updated estimate is expected to support the next stage of project advancement, including feasibility studies, detailed engineering, and broader development planning.
The Company and its contractors intend to mobilize for this drill program in short order.
About Sage Potash Corp.
Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) is dedicated to the development of its flagship Sage Plain Potash Project, located in the Paradox Basin, Utah. With a large and high-grade resource base, the Company is advancing toward its goal of establishing a secure and sustainable domestic potash production platform in the United States. Sage Potash is committed to food security, environmental stewardship, and creating value for shareholders and stakeholders alike.
On Behalf of the Board of Directors, J. Patricio Varas, CEO and Director 1 (236) 521-1521 Website: www.sagepotash.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to future events or future performance of Sage Potash, including the satisfactory design and supervision of the Company’s upcoming drill program, the achievement of positive results of the drill program, the achievement of targeting Cycle 18 horizons and continuous core recovery, the achievement of satisfactory potash evaluation and hydrogeological testing in the drill program, the timing of the mobilization and the commencement of the drill program and potentially upgrading the resource and advancing the Project toward feasibility studies, detailed engineering and broader development planning. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors and Uncertainties” in the Company’s Management’s Discussion & Analysis available for review under the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgement based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Edmonton, Alberta–(Newsfile Corp. – June 19, 2026) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) announces that, between June 16 and June 19, 2026, it closed on a private placement originally announced on May 13, 2026 (the “Offering”) by the issuance of 4,525,292 Units, 562,500 FT Units, and 110,000 CMFT Units for gross proceeds of $349,044.
Each Unit, priced at $0.065 per Unit, consisted of one common share of the Company (“Common Share”) and one Common Share purchase warrant entitling the warrant holder to purchase an additional Common Share for $0.12 and expiring on the earlier of a) 30 days following written notice by the Company to the warrant holder that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.18 per Common Share for 10 consecutive trading days; and (b) 36 months (3 years) from the date of issuance (“Warrant”). Each FT Unit, priced at $0.08 per FT Unit, consisted of one Common Share and one half of one Warrant, each issued as a “flow through share” for the purposes of the Income Tax Act (Canada). Each CMFT Unit, priced at $0.09 per CMFT Unit, consisted of one Common Share and one half of one Warrant, each issued as a “flow through share” for the purposes of the Income Tax Act (Canada).
The Offering was offered to qualified subscribers in the Provinces of Alberta, British Columbia and Ontario and in other jurisdictions as the Company in its discretion determined, in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation. The Offering is now closed.
The Company intends to use the proceeds of the sale of the Units for mineral property acquisition, exploration, and general working capital; the proceeds from the sale of FT Units for mineral property exploration, and the proceeds from the sale of the CMFT Units for mineral property exploration specifically targeting Critical Minerals (as defined in the Income Tax Act (Canada))
In connection with the sale of 600,000 Units, the Company paid a cash finders fee of $2,340 and issued 36,000 Finder Warrants (with each Finder Warrant having the same terms as the Warrants included in the Units) to Canaccord Genuity Corp. In connection with the sale of 437,500 FT Units and 110,000 CMFT units, the Company paid a cash finders fee of $2,694 and issued 32,850 Finder Warrants to Raymond James Limited. In connection with the sale of 384,000 Units, the Company paid a cash finders fee of $1,498 and issued 23,040 Finder Warrants to Leede Financial Inc. In connection with the sale of 315,000 Units, the Company paid a cash finders fee of $1,229 and issued 18,900 Finder Warrants to Haywood Securities Inc.
Following closing of the Offering, the Company has 232,838,034 common shares issued and outstanding. The Common Shares and any Common Shares issued on exercise of the Warrants and Finder Warrants are subject to restrictions on trading for four months from the date of issuance, expiring on dates ranging from October 17, 2026 to October 20, 2026. The Offering is subject to final acceptance of the TSX Venture Exchange.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC. Brian Testo, CEO, President
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.
Caution concerning forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
DALLAS, TX / ACCESS Newswire / June 18, 2026 / AIAI Holdings Corporation (NASDAQ:AIAI) (“Ai²” or the “Company”), an AI-enabled diversified holding company utilizing Transformational AI to enhance portfolio performance, today announced that John P. Rochon, Chairman of Ai² and entities controlled by the family of Mr. Rochon, collectively, have acquired approximately $100 million of Ai² shares at $20.00 per share through a privately negotiated transaction with an existing large shareholder.
This transaction represents a significant incremental investment by the Rochon family, further increasing their already substantial ownership position in Ai². The purchase underscores a deep and continuing conviction in the Company’s long-term strategy, its differentiated position in Transformational AI, and the proven ability of its Board and management team to execute at scale. The Rochon family has been a longstanding supporter of Ai², and this latest investment further aligns their interests with the Company’s long-term value creation objectives. This transaction reinforces a stable and strategically aligned shareholder base.
“This is not simply a financial investment; it is a statement of belief in where Ai² is going and how we intend to get there,” added John P. Rochon, Sr. “We are building something enduring, with a focus on disciplined execution, durable growth and long-term value creation.”
Ai² continues to execute against a robust pipeline of AI-driven initiatives across multiple sectors, focusing on enterprise-grade psychometric intelligence, scalable deployment architectures, and high-value commercial applications. The Rochon family believes it is well-positioned to capitalize on accelerating demand for applied AI solutions that deliver measurable business outcomes.
The Company was not involved in negotiating this transaction and will not receive any proceeds. Additionally, the Company expects to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 with the Securities and Exchange Commission next week. The Company notes that the period covered by the 10-Q predates both its direct listing and the acquisition of its Portfolio Companies and therefore will not reflect the consolidated financial results of those subsidiaries. The financial results to be presented in the forthcoming Form 10-Q will reflect only the historical operations of the Company’s predecessor entity and will include transaction-related expenses incurred in connection with the business combination, as well as the effects of operational disruptions arising from, among other factors, closing the transaction, adverse weather conditions and military hostilities in the Middle East, each of which impacted performance during the first quarter. As a result, the Company believes the financial results that will be reported in the forthcoming Form 10-Q will not be representative of the Company’s normalized operating performance.
About AIAI Holdings Corporation
AIAI Holdings Corporation (Ai²) (NASDAQ:AIAI) is an AI-enabled diversified holding company that acquires and grows companies across multiple industries. We expect to drive revenue and earnings growth throughout our portfolio by applying exclusively licensed Transformational AI to enhance operational efficiency and financial performance.
Ai² is building a next-generation model for technology-enabled business operations, which is expected to create sustainable value for shareholders through the strategic integration of artificial intelligence across diverse industries. More information can be found at www.aiaiholdings.com.
This press release contains “forward-looking statements” or “forward-looking information” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and plans of the Company. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our expectations, intentions, beliefs, plans, objectives, goals, strategies, future events or performance, and underlying assumptions. Forward-looking statements are often identified by the use of words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “would,” “could,” “should”, “estimate,” “plan,” “predict,” “project,” “estimate”, or “continue,” or similar expressions, including the negative of these terms or other comparable terminology.
Forward-looking statements are based on the Company’s current expectations regarding its strategy, plans, intentions, performance, or future occurrences or results, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of known and unknown risks, uncertainties, and other factors, many of which are outside of the Company’s control, that could cause actual results, performance, or achievements to materially differ from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to our lack of operating history, our ability to attract new investments, our failure to manage growth effectively, our acquisition activities may pose risks that could harm our business, and our licensed AI may not perform up to the expected standards, as well as general business and economic conditions, competitive pressures, regulatory changes, technological developments, and other factors identified in the Company’s most recent filings with the U.S. Securities and Exchange Commission, including our Registration Statement on Form S-1, which are available for review at www.sec.gov. Furthermore, the Company operates in a competitive environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results.
The forward-looking statements in this press release are based on information available to us as of the date hereof, and we disclaim any intention to, and, except as may be required by law, undertake no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company hereafter become aware. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Denver, Colorado–(Newsfile Corp. – June 17, 2026) – Elemental Royalty Corporation (NASDAQ: ELE) (TSX: ELE) (“Elemental” or the “Company“) is pleased to announce the Company has been included in the list of additions to the Russell 3000®, Russell 2000® and S&P/TSX Global Gold Index.
S&P/TSX Global Gold Index Elemental is expected to be added to the S&P/TSX Global Gold Index, effective prior to the open of trading on Monday, June 22, 2026, as disclosed by S&P Dow Jones Indices on June 5, 2026. The S&P/TSX Global Gold Index is designed to provide investors with exposure to global gold securities and is widely followed by market participants seeking diversified exposure to the gold sector.
Russell 3000® and Russell 2000® Indexes Elemental is also expected to join the broad-market Russell 3000® Index and the small-cap Russell 2000® Index at the conclusion of the June 2026 Russell Reconstitution, effective after the U.S. market close on June 26, 2026.
The June reconstitution of the Russell US indexes captures up to the 4,000 largest U.S. stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 2000® Index, which remains in place for half a year beginning 2026, is based on membership of the broad-market Russell 3000® Index. The Company will also automatically be added to the appropriate growth and value indexes.
S&P and Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2025, about $12.2 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.
Elemental’s inclusion in these indexes marks another important milestone in the Company’s continued growth as an emerging mid-tier, gold-focused royalty company.
Elemental Chief Executive Officer, David M. Cole, commented: “Our inclusion in these indexes is recognition of Elemental’s growth and relevance within the global gold sector. These milestones broaden Elemental’s visibility with both Canadian and U.S. institutional and index-oriented investors. We remain focused on building a high-quality royalty platform that delivers immediate cash flow, diversified growth, and long-term discovery upside for shareholders.”
NASDAQ: ELE | TSX: ELE | ISIN: CA28620K1066 | CUSIP: 28620K106
About Elemental Royalty Corporation. Elemental is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus’s track record of accretive royalty acquisitions with EMX’s strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.
Elemental trades on Nasdaq and on the Toronto Stock Exchange under the ticker Symbol “ELE”.
Vancouver, British Columbia–(Newsfile Corp. – June 17, 2026) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY0) (“Riverside” or the “Company”) is pleased to announce the appointment of Marco Strub as an Independent Director of the Company, effective immediately.
Marco is a long-time shareholder of Riverside and has worked with major European investment firms with vast connections in mining networks. He is principal of Sircon AG, a consulting and investment research company based in Zurich, Switzerland, and was formerly a partner of Exulta AG, a portfolio management company from 1997 to 2003. He is an Independent Director of Triumph Gold Corp., and Canada Zinc Metals Corp. (Formerly: Mantle Resources Inc.). He has also been a Director of Open Gold Corp (aka, Range Capital Corp) since 2009 and Mexigold Corp. (formerly, BCY Resources Inc.) since 2011. He served as a Director at Margaret Lake Diamonds, Inc. (JDV Capital Corp.) from 2011 to 2014, and as a Director of MVE Capital Corp. since 2007. He received a Master of Arts degree from the University of St. Gallen, Switzerland in 1982.
“We are pleased to welcome Marco to the Board,” commented John-Mark Staude, CEO of Riverside Resources. “His deep background in investment research, portfolio management, and capital markets, combined with his extensive experience serving on the boards of public mining companies, brings valuable perspective as Riverside continues to advance its project portfolio and partnership model. We look forward to his contributions and counsel.”
“Riverside has built a disciplined approach to project generation and value creation in the resource sector,” said Mr. Strub. “I am pleased to join the Board and to support the Company and its shareholders as it advances its exploration and partnership initiatives.”
Riverside would like to thank James Ladner for his service as a director. After choosing not to stand for re-election, James leaves behind a legacy of meaningful contribution where his deep expertise in accounting, mining finance, and the broader mineral business has been invaluable to the Company. While Mr. Ladner will no longer serve as a formal director, he will continue to share his insights and provide input to Riverside going forward.
Results of Annual General Meeting of Shareholders
The Company is pleased to provide the results of its Annual General Meeting of Shareholders which was held on June 4, 2026.
At the Annual General Meeting of shareholders, 6,365,550 shares were voted, representing 6.81% of the total 93,443,464 issued and outstanding shares, and the Company received majority shareholder approval for the following:
1. To set the number of directors at five (5):
2. Elected one new and re-elected four incumbent directors, total of five directors for the ensuing year as follows:
Director
Votes For
%
John-Mark Staude
6,358,050
99.88%
James Clare
6,358,050
99.88%
Walter Henry
6,358,050
99.88%
Bryan Wilson
6,358,050
99.88%
Marco Strub
6,358,050
99.88%
3. Appointment of Auditor: To appoint Davidson & Company LLP, Chartered Professional Accountants, as auditors of the Company for the ensuing year and to authorize the directors to fix their remuneration.
4. To consider, and if deemed advisable, pass an ordinary resolution, substantially in the form set out in the accompanying management information circular (the “Information Circular”), re-approving the continued use of Riverside’s stock option plan.
Details of the matters approved at the meeting are set out in the Company’s Information Circular dated April 20, 2026 and available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
About Riverside Resources Inc.
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has a solid balance sheet with no debt and 93M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information, contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Eric Negraeff Corporate Communications Riverside Resources Inc. Eric@rivres.com Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the risk that the Transaction will not be completed as contemplates, or at all, availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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.