Proven ProbableBlog sub category
While silver prices continue to languish around the $15 level, the less publicized signs that an eventual rise in price eventually must occur continue to emerge.
SRS Rocco reports how silver production is down again. Which is going to eventually have to impact the price.
To find out why, click to watch the video now!
Chris Marcus
Arcadia Economics
“Helping You Thrive While We Watch The Dollar Die”
www.ArcadiaEconomics.com
April 11, 2019 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company’’) is pleased to announce plans for a $3 million exploration program in 2019 at its 100%-owned Pumpkin Hollow copper project in Nevada, USA. The program has the following goals:
Matt Gili, Chief Executive Officer of Nevada Copper, stated “While our operations team focuses on putting our underground mine into production in Q4, 2019, our experienced geological team is executing on our exploration and expansion goals. The new program has been designed in line with our corporate philosophy of pursuing smart, low-cost growth options. It will encompass drilling some of the high-priority targets in underexplored areas of the Pumpkin Hollow project, including newly-staked ground that has encouraging copper showings on surface. In addition, we will also be targeting areas of potential growth in and around the open pit via exploration and expansion drilling.”
2019 Exploration Program Details
Newly-Staked Land Exploration and East Target (see news release dated February 22, 2019)
In February 2019, the Company expanded its land position by 32% with the staking of 5,700 acres of Federal Land to the northwest of its prior land position (shown below Figure 1), known as the Tedeboy Area. This area contains porphyry-style alteration and copper oxide mineralization at surface with multiple zones of copper mineralization sampled in outcrops and trenches.
Figure 1. New Ground Exploration Activity
Figure 2. New Ground – Surface Outcrops
Open Pit Exploration
Following on the success of the 2018 drilling program, the Company has identified several directions of open mineralization around the current Open Pit, notably to the north and the west. Additionally, the Company intends to increase its understanding of the area immediately between the North and South pit boundaries, known as the “Connector Zone”.
Figure 3. Open Pit Exploration Activity
Open Pit Advancement
Current work on the resource model has identified several areas within the Open Pit shell where increased drilling density may add to the resource model as well as potentially convert some of the Inferred Resource to the Indicated Resource category. Additionally, as we go into detailed engineering, the Company recognizes the need to drill test areas of potential future infrastructure locations to verify no mineralization will be sterilized by their positioning.
Figure 4. Open Pit Advancement Activity
Underground In-Fill Drilling
While not part of the current year exploration budget, the underground near-mine exploration continues to hold significant potential for adding new mineral resources and extending the mine life of the Underground Project through in-fill drilling. We plan on initiating this drilling commensurate with underground mine activities as the underground drilling platforms are developed.
Please visit our website at www.nevadacopper.com for updated construction progress photos and additional project information.
Qualified Persons
The information and data in this news release was reviewed by Greg French, P.G., VP Exploration and Project Development for Nevada Copper, who is a non-independent Qualified Person within the meaning of NI 43-101.
About Nevada Copper
Nevada Copper’s (TSX: NCU) Pumpkin Hollow underground project is in construction with a view to commencement of copper production in Q4, 2019. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully-permitted projects include a high-grade underground project (under construction) and a large-scale open pit project.
Additional Information
For further information please visit the Nevada Copper corporate website
(www.nevadacopper.com).
NEVADA COPPER CORP.
Matthew Gili, President and CEO
For further information call:
Rich Matthews,
VP Investor Relations
Phone: 604-355-7179
Toll free: 1-877-648-8266
Email: rmatthews@nevadacopper.com
Cautionary Language
This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: the ongoing construction of the underground mine, the commencement of production at the underground mine, and other plans of Nevada Copper with respect to the development, construction and commercial production at the Pumpkin Hollow project, ongoing exploration activities and the objectives and results thereof.
Often, but not always, forward-looking statements and forward-looking information can be identified using words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are subject to known or unknown risks, uncertainties and other factors which may cause the actual results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements and information.
Forward-looking statements and information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: history of losses; requirements for additional capital; dilution; adverse events relating to construction and development; cost overruns; loss of material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of the Company’s common shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 29, 2019. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com.
The Company provides no assurance that forward-looking statements 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 statements.
Vancouver, British Columbia – (April 10, 2019)
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (“Rover Metals” or the “Company”) is pleased to announce that it has entered into a non-binding letter of intent dated April 10, 2019 to acquire (the “Transaction”) all of the issued and outstanding shares of Centennial Mining, an arm’s length Nevada corporation, from a private US-based entity (the “Vendor”) in consideration of the issuance to the shareholders of the Vendor of 40,000,000 common shares in the capital of Rover Metals (the “Consideration Shares”). The Consideration Shares will be distributed to the shareholders of the Vendor, resulting in no single person holding more than 9.79% of the issued and outstanding common shares of the Company following the completion of the Transaction (post Transaction individual ownership does not give consideration to the number of shares to be issued in connection with the Company’s current private placement financing disclosed below).
Centennial Mining owns, among other things, a 100% interest in the Toquima precious metals property (the “Toquima Property”) located in Corcoran Canyon, Nevada, USA.
Completion of the Transaction is subject to a number of conditions. Such conditions include the execution of a definitive agreement; completion of satisfactory due diligence; receipt of requisite shareholder and director approvals, as applicable; and receipt of all required regulatory, corporate and third party approvals, including the approval of the TSX Venture Exchange (the “TSXV”) as the proposed Transaction may be a “Reviewable Transaction” under TSXV Policy 5.3 – Acquisitions and Dispositions on Non-Cash Assets. As a result of such conditions, there can be no assurance that the Transaction will be completed as proposed or at all
The Consideration Shares issuable on closing of the Transaction will be subject to a hold period of the greater of 12 months and the period stipulated by the TSXV.
Judson Culter, CEO at Rover Metals, states: “The Toquima Property brings Rover Metals a lower cost per meter precious metals exploration project to offset the somewhat more expensive and seasonal exploration costs of our existing Northwest Territories, Canada assets. Additionally, having recently completed our U.S. OTCQB listing we need a U.S. based asset in a mining friendly jurisdiction. The Toquima Property is available for year-round exploration.”
Trading in the Company’s common shares has been halted by the TSXV at the Company’s request. The halt is expected to continue pending the completion of certain pending conditions and the TSXV’s review and acceptance of materials regarding the satisfaction of such conditions.
This is an initial press release. The Company plans to issue a further press release once it has completed the pending conditions and provide the information prescribed by applicable policies of the TSXV related to the Transaction.
About the Toquima Property, Nevada, USA
The Toquima Property is a gold and silver project located northeast of Tonopah, in central Nevada, USA. The Property comprises 253 contiguous, unpatented mineral claims with an area of approximately 1,958.6 hectares (ha) (4,840 acres). Eight (8) Core claims are under option from Shasta Gold Corp.,19 CX claims are under option from MinQuest Inc., and 226 AR claims were staked in 2016 by Centennial. All claims are in good standing until August 31, 2019.
The Property has been explored since 1970. Between 1970 and 2011, a total of 123 holes, both core and reverse-circulation, with an aggregate length of 17,895 m (58,712 ft) were drilled on the Property. Of this total, approximately 11,500 meters in 78 holes have been drilled within the Silver Reef Zone, the most significant of the known mineral occurrences on the Property. Two historical resource estimates in the context of National Instrument 43-101 exist for the Property. The first was done in 1984 by Copper Range Exploration and estimated 4 million short tons at grades of 2.91 opt Ag and 0.014 opt Au, (3.6 million metric tonnes grading 100 g/t Ag and 0.48 g/t Au). This historical resource estimate was done by hand and none of the key assumptions, parameters, and methods used to prepare this historical resource estimate are available. The second historical resource estimate was done in 1988 by Echo Bay Explorations Inc. which reported “probable” and “possible” resources of 1,251,808 short tons at an uncut grade of 7.22 ounces per ton (opt) Ag and 0.026 opt Au, (1,135,621 metric tonnes grading 247.54 grams per tonne (g/t) Ag and 0.891 g/t Au). A qualified person has not done sufficient work to classify this historical estimate as a current mineral resource, and Rover is not treating them as a current mineral resource.
The Toquima Property is located on the eastern edge of the Toquima Range, a NNE-trending range typical of the Basin-and-Range Province. Most of the Toquima Range is underlain by volcanic rocks of Upper Oligocene to Lower Miocene age, comprising ash-flow tuffs ranging in composition from dacite to high-silica rhyolite. Structure in the Toquima Range is dominated by the generally NE-trending range-front faults on the east and west edges of the range, smaller NE-trending faults, older NW-striking pre-Basin-Range faults, and the circular faults and caldera margins of the Toquima Caldera Complex.
The Toquima Range and the San Antonio Range to the south contain the Northumberland -Tonopah gold-silver belt that hosts at least ten gold-silver mines and properties in addition to the Toquima Property, including Round Mountain (Kinross), Gold Hill, Northumberland, Manhattan, Belmont, and Tonopah. The Property exhibits similarities with most of the other Au-Ag properties in the belt: low-sulfidation epithermal mineralization in caldera margin and/or range front fault zones in veins, stockworks, and breccias hosted in hydrothermally-altered felsic volcanic rocks. Mineralization in the Silver Reef Zone is hosted in the Late Oligocene-age Corcoran Canyon Tuff dated at 27.7 Ma and the Trail Canyon Tuff dated at 23.6 Ma. Three types of felsic intrusions are present on the Property, one or more of which may be related to mineralization.
Exploration on the Property over the last 46 years has outlined the Silver Reef Zone and discovered other mineralized zones. The Silver Reef Ag-Au deposit, a potentially economic zone of pervasive quartz-adularia-sulfide veining, stockwork, and disseminated mineralization accompanied by intense quartz-sericite-pyrite alteration, occurs in a NE-trending, northwest-dipping, zone 500 m wide and 600 m long and has been defined by surface mapping and sampling as well as drilling.
Elsewhere on the Property, exploration identified four additional mineralized zones: Zone M/N is located west of the Silver Reef zone and consists of pervasive quartz-sericite alteration and quartz-adularia veining in a NE trending zone about 800 meters long. Zone R/S is a large area of strong quartz-sericite alteration on the western end of the Property, with anomalous rock and soil assay values. Zone L comprises an ENE-trending Au-Sb-As soil-rock anomaly 100 m long, over a silicified breccia zone. In Zone F, Echo Bay reported rock assays up to 30 g/t Ag, NW of Silver Reef. Although Echo Bay’s subsequent soil samples did not generate an anomaly, Bullion River reported one Au-anomalous rock sample in a rhyolite intrusion.
Technical information in this news release has been approved by Raul Sanabria, M.Sc., P.Geo., VP of Exploration at Rover Metals Corp. and a Qualified Person for the purposes of National Instrument 43-101.
Private Placement
The Company also announces that it has re-priced its previously announced private placement (the “Private Placement”) (see Rover’s March 4, 2019 press release). The Company announces that it will seek to raise an aggregate of $1.25 million through the issuance of up to 20,833,333 units of the Company (each a “Unit”) at a price of $0.06 per Unit. Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of $0.12 for a period of five (5) years from the date of issuance.
The Company currently anticipates that the net proceeds of the Private Placement will be allocated as follows: 65% for Toquima Project, 15% for Cabin Lake, and 20% for general and administrative expenses. Rover Metals anticipates closing the Private Placement in multiple closing and as funds are received.
About Rover Metals
Rover Metals is a natural resource exploration company specialized in precious metals 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’ (TSX:FT) planned NICO Project gold-cobalt processor.
You can follow Rover Metals on its social media channels
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
CEO.ca: https://ceo.ca/rovr for daily company updates and industry news.
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Judson Culter
Email: judson@rovermetals.com
Phone: (604) 449-5347
Statement Regarding Forward-Looking Information
This news 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. 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.
Wednesday, April 10, 2019
TORONTO, ON / ACCESSWIRE / April 10, 2019 / Anthony Milewski, Chairman and CEO, Cobalt 27 Capital Corp. (TSX-V: KBLT) (OTCQX: CBLLF) (FRA: 270), met with the London Metal Exchange’s Product Development department to discuss their electric vehicle battery materials initiatives. The London Metal Exchange (LME) is the world centre for industrial metals trading. With the launch of its new cobalt contract, we reached out the LME with some questions that we felt investors and Cobalt 27 shareholders would find interesting.
What is the London Metal Exchange and what does it offer as a platform?
The London Metal Exchange (LME) is the world centre for industrial metals trading. The prices discovered across the LME’s three trading platforms – the Ring, the inter-office ‘telephone’ market and LMEselect, our electronic trading platform – are used as the global reference price and, both the metal and investment communities use the LME to transfer or take on risk, 24 hours a day.
The LME has had a cobalt contract since 2010. Why is the Exchange launching a new cobalt contract now?
The LME launched its physically-settled LME Cobalt contract in 2010, which has been a steady performer amongst a core group of supporters for a physically settled contract. That said, the LME has also seen growing appetite for a cash-settled contract over recent years with the rise in demand for Electric Vehicles (EVs) and battery metals. Last year, we consulted the market in order to identify the best risk management solutions. Following extensive engagement with the market, on 11 March 2019, we launched a cash-settled LME Cobalt (Fastmarkets MB) contract, to complement our existing physically-settled offering. This new cash-settled contract is settled against the Fastmarkets MB Standard Grade index, allowing market participants who have exposure to the aforementioned price in their physical contracts, to hedge across the cobalt value chain with no basis risk.
What are the differences between the new cash-settled LME Cobalt (Fastmarkets MB) contract and the existing physically-settled LME Cobalt contract?
There are several differences between the two contracts, but the most relevant are the settlement structure, settlement price and prompt date structure.
Designed to mirror physical trading, daily prompts enable users of the physically-settled LME Cobalt contract to accurately hedge their physical transactions down to the day.
The LME Cobalt (Fastmarkets MB) contract settles on the last business day of each month in accordance with the LME trading calendar, out to 15 months, to the price of the Fastmarkets MB Index. In contrast, the physically-settled LME Cobalt contract offers daily prompt dates out to three months, weekly prompt dates between three and six months, and monthly prompt dates from the sixth month onward out to 15 months.
Cash settlement is a method used in certain futures and options contracts where, upon expiration or exercise, the seller of the financial instrument does not deliver the actual physical underlying asset but instead transfers the associated cash position. For sellers who do not wish to take actual possession of the underlying cash commodity, cash settlement is a more convenient method of transacting futures and options contracts. Cash settlement is also preferred by financial investors who bring additional liquidity reducing the bid-offer spread, and thus lowering the cost of trading.
And what about the physical delivered contract? What will happen to that now?
The LME recognises the ongoing market support for its physically-settled cobalt contract which has seen a steady uptake in recent months, with an increase in both trading volumes and stocks, and as such it will continue to offer a physically-settled option alongside the new cash-settled LME Cobalt (Fastmarkets MB) contract.
Physical settlement enables short position holders to deliver warrants – a warehouse warrant for the storage of metal, issued by a LME-listed warehouse and in a form approved by the Exchange – against their positions, whilst long position holders will receive warrants, and ultimately, take physical delivery of the metal or close out their position.
Physical settlement is preferred by a number of market participants such as cobalt producers who prefer the option of physical delivery, and the steady growth of the battery metals market in recent years has opened up the cobalt market to a number of new market participants wanting to gain exposure to the cobalt price and have the tools available to manage their price risk. In recent months we have heard of a number of cobalt producers who are interested in listing their brands on the LME and as part of our ongoing commitment to lowering barriers to market entry and serving the physical market, the LME has recently waived all brand listing fees for cobalt producers wanting to enter the market and list their brands on the LME. This waiver will last for 6 months, until October 2019, and any producers interested in listing on the LME should reach out to the team who will be happy to discuss this in more detail.
Who is the new cash-settled contract for?
Over the past few years, we have seen extreme volatility in the cobalt market which has a knock-on effect on the entire value chain, causing operational concerns – increasing financing costs, increasing counterparty risk and, ultimately, increasing the price of goods for consumers.
Furthermore, the significant growth in EVs in recent years has bought new players to the metals market, with considerable capital to invest in this space. Up until now, these new market participants have struggled to manage their exposure to the cobalt price, especially along the forward curve, as they have not had the tools available to them. The new cash-settled LME Cobalt (Fastmarkets MB) contract provides exposure to the Fastmarkets MB Cobalt Standard Grade price, helping market participants to manage risk along the entire cobalt value chain. A few examples of market participants who can benefit from these hedging tools include:
The LME Cobalt (Fastmarkets MB) contract will be available to trade 24 hours a day across the LME’s telephone market and from 01:00-19:00 London time on LMEselect, the LME’s electronic market.
What liquidity can we expect?
Building liquidity is always the biggest challenge for new exchange-traded products generally, and especially for small markets like cobalt, but we expect liquidity to grow progressively as our members deploy the infrastructure upgrades that allow them to access this market.
As observed in similar markets, we expect to see the majority of initial liquidity on the telephone market. However, over time we hope to see an increase in the amount of physical players benefiting from the contract and contributing towards an increase in on-screen liquidity and deep order book – providing the transparency and exposure that market participants require.
We have also introduced a new membership category of Registered Intermediating Brokers (RIBs). These are brokers who facilitate trades between two parties – either LME members or clients – helping to grow liquidity in smaller niche markets such as the cobalt market. We have seen in the past how RIBs have greatly supported the initial liquidity in other new markets such as LME Steel Scrap and LME Steel Rebar, playing an integral role in helping these markets to grow.
For more information about the LME’s cobalt offering, please contact one of the team at product.development@lme.com
I welcome shareholders to get in touch with any comments.
Anthony Milewski,
Chairman and CEO
Cobalt 27 Capital Corp.
About Cobalt 27 Capital Corp.
Cobalt 27 Capital Corp. is a leading battery metals streaming company offering exposure to metals integral to key technologies of the electric vehicle and energy storage markets. The Company owns physical cobalt and a 32.6% Cobalt Stream on Vale’s world-class Voisey’s Bay mine, beginning in 2021. Cobalt 27 is undertaking a friendly acquisition of Highlands Pacific which is expected to add increased attributable nickel and cobalt production from the long-life, world-class Ramu Mine. The Company also manages a portfolio of 11 royalties and intends to continue to invest in a cobalt and nickel focused portfolio of streams, royalties and direct interests in mineral properties containing battery metals.
For further information please visit the Company website at www.cobalt27.com
Forward-Looking Information: This interview may contain certain information which constitutes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of applicable Canadian securities laws. Forward-looking statements address future events and conditions which involve inherent risks and uncertainties. Actual results could differ materially from those expressed or implied by them. Examples of forward looking information and assumptions include future estimates of the worldwide supply and demand for cobalt and other metals and the effect that these changes could have on the short term and long term price of cobalt and other metals on the world markets, statements regarding the future operating or financial performance of Cobalt 27 including the net present value, metal recoveries, capital costs, operating costs, production, rates of return and payback. Forward looking statements involve known and unknown risks and uncertainties which may not prove to be accurate. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in Cobalt 27 Capital Corp.’s reports filed with Canadian securities regulators on SEDAR at www.sedar.com.
In some cases, forward-looking statements can be identified by terminology such as “may”, “will”, “should”, “expect”, “projects”, “plans”, “anticipates” and similar expressions. These statements represent management’s expectations or beliefs concerning, among other things, future operations and various components thereof affecting the economic performance of Cobalt 27. Undue reliance should not be placed on these forward-looking statements which are based upon management’s assumptions and are subject to known and unknown risks and uncertainties, including the business risks discussed above, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted.
Links: Some of the posted entries on in this interview may include links to 3rd party websites. Cobalt 27 has not reviewed all websites linked to or from this Site and is not responsible for the contents of any such websites. The inclusion of any link does not imply endorsement by Cobalt 27 of the linked website or its content. Use of any such linked website is at the user’s own risk.
SOURCE: Junior Mining Network
View source version on finance.yahoo.com: https://finance.yahoo.com/news/lmes-cobalt-contract-history-cobalt-130000903.html
April 10, 2019
Vancouver, B.C., Granite Creek Copper Ltd. (TSX.V: GCX) (“Granite Creek” or the “Company”) announces that the Company’s common shares have commenced trading on the Frankfurt Stock Exchange under the symbol “A2PFE0”. The Company’s common shares continue to be listed on the TSX Venture Exchange under the symbol “GCX”.
President & CEO, Tim Johnson, stated, “With the Frankfurt exchange being amongst the world’s largest by market capitalization, this listing will significantly expand our shareholder base and access to international capital. The Company continues to pursue a number of initiatives with respect to the Stu Project and we are looking forward to providing additional updates over the coming weeks as we approach the start of the 2019 field exploration season.”
About Granite Creek Copper
Granite Creek is a Canadian exploration company focused on the 100%-owned Stu Copper-Gold project located in the Yukon’s Carmacks Copper District which covers 111 square kilometres adjacent to Capstone Mining’s high-grade Minto Cu-Au-Ag Mine and Copper North’s advance stage Carmacks Cu-Au-Ag project. More information about the company and the Stu Copper project can be viewed on the Company’s website at www.gcxcopper.com.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies focused on high-potential, brownfields exploration assets adjacent to high-grade operating mines in proven in North American districts with excellent infrastructure. Focusing exploration in these proven brownfields districts increases the probability of new discoveries and allows for rapid advancement of resources to create value.
Member companies have highly experienced management and technical teams with track records of successful discovery and project development, including capital markets and financing expertise. Metallic Group professional backgrounds include former leadership positions with Barrick Gold, Goldfields, Stillwater Mining and leading explorer/developers NovaGold, Trilogy Metals and Wellgreen Platinum. Company leaders have been credited with the discovery, or expansion and advancement, of several major deposits in North America, and have significant ownership positions in the companies.
The Group and its members are headquartered in Vancouver, BC, Canada, with company stocks currently listed on the TSX Venture, US OTC, and Frankfurt stock exchanges.
FOR FURTHER INFORMATION PLEASE CONTACT:
Timothy Johnson, President
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca
April 9, 2019, 7:45 am
TORONTO, ONTARIO – (April 9, 2019) Gowest Gold Ltd. (“Gowest” or the “Corporation”) (TSX VENTURE: GWA) announced today that Fortune Future Holdings Limited (“Fortune”) has agreed to purchase, on a non-brokered private placement basis, common shares of the Corporation for aggregate gross proceeds of $8,000,000 (the “Private Placement”).
The Private Placement is subject to the completion of a consolidation of the outstanding common shares of the Corporation (the “Consolidation”), on a one (1) for ten (10) basis, prior to the closing of the Private Placement. Pursuant to the proposed Consolidation, holders of common shares of the Corporation will receive one (1) post-Consolidation common share in exchange for every ten (10) pre-Consolidation common shares outstanding immediately prior to the Consolidation. The Consolidation will affect all holders of common shares uniformly and will not affect any shareholder’s percentage ownership interest in the Corporation.
The common shares to be issued to Fortune pursuant the Private Placement will be issued at a price of $0.45 per share on a post-Consolidation basis (being equal to $0.045 per share on a pre-Consolidation basis).
Details of the Private Placement
In connection with the Private Placement, the Corporation has received, and accepted, an irrevocable subscription from Fortune for the full amount of the Private Placement.
Pursuant to the Private Placement, the Corporation will issue to Fortune an aggregate of 17,777,777 common shares at a price of $0.45 per share on a post-Consolidation basis (being equal to 177,777,777 common shares at a price of $0.045 per share on a pre-Consolidation basis). On April 8, 2019, the closing price of the common shares of the Corporation on the TSX Venture Exchange (“TSX-V”) was $0.0375. During the prior month, the common shares of the Corporation traded on the TSX-V between $0.03 (low) and $0.04 (high).
Fortune is an investment company based in Chifeng City, Inner Mongolia, China, focused on investment in companies engaged in the exploration for, and the mining and sale of, mineral resources. In addition to its primary office in Chifeng City, Fortune has branches in Hong Kong and Beijing and is involved with various mining projects throughout China, Mongolia, Nigeria and Algeria. Fortune is incorporated under the laws of the British Virgin Islands.
Fortune made its initial investment in the Corporation in June 2014 and currently holds ownership of greater than 10% of the outstanding common shares of the Corporation. As of the date hereof, Fortune holds 85,000,000 common shares of the Corporation representing approximately 19.8% of the outstanding common shares of the Corporation. Fortune was previously a “control person” of the Corporation. Assuming the completion of the Private Placement, and no further issuances of common shares by the Corporation prior to the closing date, Fortune would hold 26,277,777 common shares on a post-Consolidation basis (being equal to 262,777,777 common shares on a pre-Consolidation basis), representing approximately 43.3% of the outstanding common shares of the Corporation.
Pursuant to the terms of the Private Placement, closing is to occur following the receipt of requisite shareholder approvals for the Private Placement and the implementation of the Consolidation (as described in greater detail below). There are no material conditions to the closing of the Private Placement, other than: (i) the receipt of required shareholder approvals (for the Private Placement and Consolidation); (ii) the receipt of required regulatory approvals, including the approval of the TSX-V; (iii) the requirement that there be no material adverse change with respect to the Corporation prior to the closing of the Private Placement; and (iv) the requirement that the representations and warranties of the parties given in the subscription agreement in respect of the Private Placement be true and correct, in all material respects, as of the closing date of the Private Placement.
Assuming the completion of the Private Placement, Fortune will have the right to appoint, and to have nominated by the Corporation for election at each annual meeting of shareholders, that number of directors or the Corporation as will represent a majority of the board of directors (the “Board”), so long as Fortune holds greater than 30% of the outstanding common shares of the Corporation. Pursuant to the terms of its initial investment in the Corporation, Fortune held a contractual right to appoint two directors to the Board.
The approval of the Private Placement follows an exhaustive search and evaluation of potential sources of capital undertaken by management and the Board over the past number of months. The terms and conditions presented to the Corporation by Fortune pursuant to the Private Placement have been determined by the Board to be reasonable in the circumstances of the Corporation; in particular having regard to the current challenging financial and operational circumstances affecting the Corporation and the difficult market conditions affecting junior mining issuers generally. No alternative commercially reasonable financing options of the magnitude of the Private Placement were identified the Corporation. In the opinion of management and the Board, the Private Placement represents the best financing option available to the Corporation at this time.
After consideration of all relevant circumstances, the Board (with the representatives of Fortune abstaining) has approved the Private Placement and has determined that the Private Placement is in the best interests of the Corporation.
Among other factors considered by the Board in approving the Private Placement: (i) the issue price of the common shares represents a premium to the recent trading price of the common shares on the TSX-V; (ii) the Private Placement presents lower-execution risk given Fortune’s familiarity with the Corporation and its operations and no further due diligence is required to be conducted by Fortune; (iii) the investment by Fortune may assist the Corporation in its efforts to raise additional funds, including by way of additional “flow-through” investment in the Corporation; (iv) shareholders will continue to participate in any future appreciation in the value of the common shares of the Corporation; and (v) the significant investment by Fortune confirms its long-term commitment to the Corporation and to bringing its 100% Bradshaw Gold Deposit (“Bradshaw”) into commercial production
The proceeds of the Private Placement will be used by the Corporation for the continued development of Bradshaw. The proceeds of the Private Placement alone will not be sufficient to bring Bradshaw into commercial production. The Corporation is continuing to pursue additional financing opportunities to cover this anticipated funding shortfall and also to advance, in parallel, exploration opportunities both at and near Bradshaw.
All of the securities issuable in connection with the Offering will be subject to a hold period expiring four months and one day after date of issuance.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.
Completion of the Private Placement remains subject to receipt of the approval of the TSX-V.
Minority Approval of Private Placement
By virtue of the fact that Fortune holds ownership of greater than 10% of the outstanding common shares of the Corporation and therefore is a “related party” of the Corporation pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the Private Placement will constitute a “related party transaction” of the Corporation under MI 61-101. As such, the Private Placement is subject to the minority approval requirements of MI 61-101 and will require the approval of shareholders of the Corporation, excluding Fortune (and any related parties of Fortune), prior to the closing of the Private Placement. As the Corporation is listed only on the TSX-V, the Private Placement is exempt from the valuation requirements of MI 61-101 by virtue of the exemption contained in Section 5.5(b) of MI 61-101.
Further, given that Fortune will hold greater than 20% of the outstanding common shares of the Corporation following the completion of the Private Placement, the Private Placement is subject to the approval of shareholders of the Corporation, excluding Fortune (and any related parties of Fortune), pursuant to the Corporation’s shareholder rights plan (the “Rights Plan”). The terms of the Rights Plan are set out in the Amended and Restated Shareholder Rights Plan Agreement, dated as of May 5, 2017, between the Corporation and TSX Trust Company, as rights agent. Specifically, the Private Placement is subject to the shareholders of the Corporation, excluding Fortune (and any related parties of Fortune), approving the Private Placement as a “Shareholder Approved Financing” in accordance with the Rights Plan.
The Corporation intends to call a special meeting of shareholders of the Corporation (the “Meeting”) as soon as possible for the purpose of obtaining the requisite shareholder approvals for the completion of the Private Placement. The Board recommends that shareholders vote in favour of the Private Placement.
Further information regarding the Private Placement will be contained in the management information circular to be prepared in respect of the Meeting. The management information circular will be filed under the Corporation’s profile on SEDAR (www.sedar.com) at the time that it is mailed to shareholders. All shareholders are urged to read the management information circular once it becomes available, as it will contain additional important information concerning the Private Placement.
The parties expect that the Private Placement will be completed shortly after the Meeting, subject to satisfaction of all conditions precedent to the closing of the Private Placement.
Consolidation
As indicated above, the completion of the Consolidation is a condition precedent to the closing the Private Placement. The completion of the Private Placement, among other purposes, will allow the Corporation to comply with the policies of the TSX-V, which generally prohibit the issuance of shares at a price of less than $0.05 per share.
If approved and implemented, the Consolidation will occur simultaneously for all of the Corporation’s issued and outstanding common shares and will occur prior to the completion of the Private Placement. The Consolidation will affect all holders of Common Shares uniformly and will not affect any shareholder’s percentage ownership interest in the Corporation. As the Corporation currently has an unlimited number of common shares authorized for issuance, the Consolidation will not have any effect on the number of common shares that remain available for future issuance. If the Consolidation is implemented, the exercise price and number of common shares issuable under outstanding incentive stock options and common share purchase warrants issued by the Corporation will be proportionately adjusted.
The Corporation intends to seek approval of shareholders for the Consolidation at the Meeting. The Consolidation will require the approval of not less than two-thirds (2/3) of the votes cast by the holders of common shares present in person or represented by proxy at the Meeting. The Board recommends that shareholders vote in favour of the Consolidation.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Corporation’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include, without limitation, statements relating to: the Private Placement; the proposed use of proceeds of the Private Placement; the ability of the parties, in particular the Corporation, to satisfy the conditions precedent to the closing of the Private Placement; the mailing of the management information circular in connection with the Meeting and anticipated timing thereof; and the anticipated timing of the completion of the Private Placement. Words such as “may”, “would”, “could”, “should”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “potential” and similar expressions may be used to identify these forward-looking statements although not all forward-looking statements contain such words.
Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including risks associated with the Private Placement and financing transactions generally, such as the failure to satisfy the closing conditions contained in the subscription agreement, the absence of material adverse changes or other events which may give Fortune the basis on which to terminate the subscription agreement, and the ability of the the Corporation to complete and mail the information circular in respect of the Meeting and hold the Meeting within the time frames indicated. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and reader should not place undue reliance on the forward-looking statements. These forward-looking statements are made as of the date of this press release and, other than as required by law, the Corporation does not intend to or assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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.
For further information please contact:
Greg Romain – President & CEO – Tel: (416) 363-1210 – Email: info@gowestgold.com
Greg Taylor – Investor Relations – Tel: 416 605-5120 – Email: gregt@gowestgold.com
March 25, 2019, 4:37 pm
TORONTO, ONTARIO – (March 25, 2019) Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) announced today that it has issued, on a non-brokered private placement basis, 40,000,000 common shares of the Company, at a price of $0.05 per common share, for aggregate gross proceeds of $2,000,000 (the “Private Placement”) pursuant to the closing of its previously announced private placement (the “Private Placement”).
All of the securities issuable in connection with the Private Placement are subject to a hold period expiring four months and one day after date of issuance. The proceeds of the Private Placement will be used by the Company for the continued development of its 100% owned Bradshaw Gold Deposit (“Bradshaw”) located in the Timmins Gold Camp.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.
The Company would also like to advise that it is working towards a significant investment that would allow the Company to complete the Bulk Sample Program and see Bradshaw continue to advance towards commercial production. The Company will provide a further update and details concerning this potential investment in the coming days.
The funds raised from the current Private Placement will be used to help ensure the Bradshaw site will be ready for restart, to continue ongoing work at QMX Gold Corporation’s Aurbel Mill in Val d’Or, Quebec, where material from Bradshaw is to be processed (see Gowest news release dated October 30, 2018), all while the Company is working to raise additional funds.
As previously announced, (see news release dated April 16, 2018), due to financial challenges, uncertainty of the timing surrounding the processing of the Bulk Sample and the fact that there is no further capacity at the mine site to store any further underground mined material, the Company suspended mining operations at the site. During this period, the Company has worked to tightly manage its limited cash resources, while positioning the Company to be able to re-start the development of the mine when conditions warrant.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Company’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
Forward-Looking Statements
This news release may contain certain “forward looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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.
In conversation with Maurice Jackson of Proven & Probable, the executive chairman for this Canada-based company provides updates on operations and acquisition of permits for its flagship project.
Maurice Jackson of Proven and Probable sits down with Dr. John-Mark Staude the President and CEO of Riverside Resources (TSX.V RRI | OTC: RVSDF) to discuss the 5 C’s Copper, Cecilia, Cash, Canada,and Capital Structure.
Irving Resources has posted a video showing the 2019 Omu Drill Program: Omu Sinter Target at Otoineppu Mine Site. Click here to view the video.
April 2, 2019
Vancouver, British Columbia, April 2, 2019 (TSX Venture: EMX; NYSE American: EMX) – EMX Royalty Corporation (the “Company” or “EMX”) is pleased to report results for the year ended December 31, 2018. All dollar amounts are CDN unless otherwise noted.
HIGHLIGHTS FOR 2018
Financial Update
EMX had royalty revenue of $2.1 million generated in North America and Turkey during the year. The Company also received $2.1 million in property payments, and $1.1 million from the sale of marketable securities.
The Company’s net income for the year was $62.1 million, which principally resulted from an $80.3 million gain from the sale of the Malmyzh project by IG Copper LLC (“IGC”).
Royalty generation costs totaled $8.1 million, of which $1.9 million was recovered from partners. In addition, partners continued to advance projects and incur exploration expenditures totaling approximately $19 million that did not flow through to the Company’s financial statements.
General and administrative expenses totaled $4.1 million, which includes $1.1 million in salaries and consultants, $0.8 million in administrative costs, and $1.0 million in share-based payments.
Total cash used in operations was $5.9 million. Other items affecting financial results in 2018 include an impairment of $7.2 million at the Leeville royalty property in Nevada, $1.7 million in depletion costs, $1.9 million loss related to reduction in goodwill, foreign exchange gain of $3.5 million, and discretionary bonuses of $5.2 million related to the successful sale of Malmyzh (as discussed below).
Sale of Malmyzh Strategic Investment
After seven years, EMX’s strategic investment in IGC was realized in 2018 through the sale of the Malmyzh copper-gold project to Russian Copper Company (“RCC”) for US$200 million (see EMX news releases dated October 11, and October 30, 2018).
EMX received an initial cash distribution of $84.2 million from IGC in Q4 of 2018. Subject to certain escrow conditions related to the sale of Malmyzh, cash distributions of up to $5.5 million will be made to EMX as funds are released during 2019.
The Company awarded bonuses totaling $5.2 million to the Chairman, and all EMX management and staff, in recognition of the seven year effort to identify, develop and monetize the Company’s investment in IGC. The bonuses were approved by the Compensation Committee comprised of three independent directors and the Board, with Michael Winn and Dave Cole abstaining given their participation in the bonuses (see EMX news release dated November 30, 2018).
Operational Update
The Company’s royalty and mineral property portfolio totals over 90 projects on five continents.
In North America, EMX received ~$1.84 million in gross revenue from the sale of 1,116 ounces of gold from the Leeville royalty property that covers portions of Newmont Mining Corporation’s (“Newmont”) underground mining operations on the Northern Carlin Trend. Additionally, EMX executed a strategic alliance with South32 USA Exploration Inc. (“South32″) to evaluate exploration opportunities in Arizona, New Mexico, and Utah, executed another property agreement with Kennecott Exploration Company in Arizona, and saw further advances on its portfolio where partners spent approximately $7.0 million on exploration.
In Turkey, the Company received pre-production payments totaling $1.65 million related to the Akarca royalty property where engineering, metallurgical, and other project studies were advanced during the year. At the Balya royalty property, EMX received pre-production royalty payments totaling $133 thousand, and the operator continued to expand drill defined zones of lead-zinc-silver mineralization through an ongoing ~24,000 meter drill program. At the Sisorta gold royalty property, EMX received pre-production royalty payments totaling $145 thousand, and the operator continued to advance the property, having submitted an Environmental Impact Assessment study.
In Serbia, Nevsun Resources Ltd. (“Nevsun”) announced significant advancements at the Timok Project royalty property, including: a) an updated high grade Upper Zone Pre-Feasibility Study (“PFS”) that outlined a 10 year mine life yielding approximately 1.7 billion pounds of payable copper and 516 thousand ounces of payable gold, with initial production forecast to be in 2022, b) commencement of an Upper Zone exploration decline, and c) an initial inferred resource for the Lower Zone porphyry project of 1.7 billion tonnes averaging 0.86% copper and 0.18 g/t gold at a “dollar equivalent” cut-off of US$25/tonne (see Nevsun news releases dated March 28, June 5, and June 26, 2018). In Q1 2019, the acquisition of Nevsun was completed by Zijin Mining Group Co. Ltd.
In Scandinavia, the Company completed nine transactions, including four with Boreal Metals Corp. (“Boreal”), four with Norra Metals Corp (“Norra”), and one with South32 Ltd. The deals with Boreal and Norra involved receiving equity in Boreal and Norra, advance royalty payments, and a 3% NSR royalty interest in the projects, while the South32 agreement involved cash payments, work commitments, and upon earn-in, a 3% NSR royalty interest. Boreal also announced drill results at Gumsberg in Sweden, where high grade zinc-lead-silver massive sulfide mineralization was encountered (see EMX news releases dated March 1 and May 2, 2018).
In Australia, the Company acquired a prospective sediment hosted copper exploration project in the Kimberley region of Western Australia. The Company made a decision to relinquish all properties in New Zealand during the year.
OUTLOOK
The Company enters 2019 with a strong balance sheet, including working capital of $89 million comprised of $86.2 million in cash, $1.5 million in investments, $7.5 million in receivables, and $5.7 million in payables. EMX intends to operate the business as we have for the past 16 years, generating and marketing new royalty opportunities. The Company will also continue to selectively evaluate royalty acquisitions and strategic investments as we have in the past. EMX’s business model of royalty generation, royalty acquisition, and strategic investment provides multiple avenues for growing the Company’s portfolio and building shareholder value.
Despite the impairment of the Leeville royalty this past year, the Company continues to be optimistic about the potential to increase future revenue from this royalty. Newmont’s exploration successes extend southeast from the Leeville mining complex and across EMX’s royalty position. As discussed by Newmont, this trend is an important contributor to its Northern Carlin Trend development strategy. The upside exploration potential of the Leeville royalty property, coupled with a positive outlook for the gold price, underscores the upside optionality of this material Company asset.
We are also excited about the potential growth in revenue that may come from our Turkish portfolio (Balya, Akarca, and Sisorta), as well as the significant potential of our Timok royalty in Serbia, where the Upper Zone high grade copper-gold development project is scheduled to commence production in 2022. The Timok royalty is a material Company asset.
EMX continues to see strong industry interest in the Company’s royalty generation properties. More than $20 million is expected to be spent by partners advancing EMX’s portfolio during 2019. A majority of this portfolio to be explored is in the southwest U.S., Sweden and Norway. EMX will also continue to evaluate royalty acquisition and strategic investment opportunities within the regions where we currently operate, while looking for new opportunities to grow the portfolio elsewhere in the world.
The overarching goal to sustain the Company’s royalty generation, royalty acquisition, and strategic investment activities with positive cash flow was realized in 2018 with the Malmyzh sale. In addition, ongoing revenue from royalties, advance royalties and other pre-production cash payments have been increasing over time. Going into 2019, EMX is well funded to identify new strategic investment opportunities, while developing a pipeline of quality royalty and royalty generation mineral properties that provide multiple opportunities for exploration and production success.
FILING OF FORM 20F
The Company has filed a Form 20-F annual report, including the Company’s audited consolidated financial statements (the “Financial Statements”) and Management’s Discussion and Analysis, for the year ended December 31, 2018 with the U.S. Securities and Exchange Commission (the “SEC”) on EDGAR (www.sec.gov) and with Canadian securities regulators on SEDAR (www.sedar.com). The annual report is also available for viewing on the Company’s website at www.EMXroyalty.com under the heading “Investors”. Shareholders may receive a printed copy of the Company’s complete Financial Statements, or its complete Form 20-F, free of charge, upon request to the Corporate Secretary at Suite 501 – 543 Granville Street, Vancouver, British Columbia V6C 1X8, Canada.
About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments. Please see www.EMXroyalty.com for more information.
Mr. Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email:SClose@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the year ended December 31, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year ended December 31, 2018, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.