WASHINGTON/SINGAPORE/TAIPEI (Reuters) -The White House is seeking to renegotiate U.S. CHIPS and Science Act awards and has signaled delays to some upcoming semiconductor disbursements, two sources familiar with the matter told Reuters.
The people, along with a third source, said the new administration is reviewing the projects awarded under the 2022 law, meant to boost American domestic semiconductor output with $39 billion in subsidies.
Washington plans to renegotiate some of the deals after assessing and changing current requirements, according to the sources. The extent of the possible changes, and how they would affect agreements already finalized, was not immediately clear. It was not known whether any action has yet been taken.
“The CHIPS Program Office has told us that certain conditions that do not align with President (Donald) Trump’s executive orders and policies are now under review for all CHIPS Direct Funding Agreements,” GlobalWafers spokesperson Leah Peng said in a statement to Reuters.
Taiwan’s GlobalWafers, which said it has not been notified directly by Washington of any changes to the conditions or terms of their awards, is set to receive $406 million in U.S. government grants for projects in Texas and Missouri. The company is currently set to receive subsidies only after it achieves specific milestones later in 2025.
Illustration picture of semiconductor chips on a circuit board
Each award recipient has distinct terms and milestones in their agreements.
Four sources with knowledge of the discussions told Reuters that the White House is concerned about many of the terms underpinning the $39 billion Chips and Science Act industry subsidies.
Those encompass additional clauses, including requirements added into contracts by the administration of President Joe Biden, including that recipients must use unionized labor to build factories and help provide affordable childcare for factory workers.
The White House and the U.S. Department of Commerce did not immediately respond to requests for comment.
The Semiconductor Industry Association, a trade group representing the chip industry, has started asking members how the program could be improved.
But David Isaacs, vice president of government affairs for the group, said: “It’s important both the manufacturing incentives and research programs proceed without disruption, and we stand ready to work with Commerce Secretary Nominee (Howard) Lutnick and other members of the Trump administration to streamline the program’s requirements and achieve our shared goal of strengthening U.S. leadership in chip technology.”
Since taking office, Trump has issued a series of executive orders aimed at dismantling diversity, equity and inclusion programs across the federal government and the private sector.
One of the sources said the White House is also frustrated by companies that accepted CHIPS Act subsidies and then announced significant overseas expansion plans, including in China. The law allowed some investments in China.
Intel (INTC), for example, announced a $300 million investment in a Chinese assembly and test facility in October, after saying in March that it had won a major award under the CHIPS Act.
Many of the biggest recipients of the CHIPS Act funding – including Intel, TSMC (TSM), Samsung Electronics and SK Hynix – all have major manufacturing facilities in China.
Intel disclosed it had received two payments totaling $2.2 billion in funding from the CHIPS Act, but declined to comment.
A TSMC spokesperson said the company had received $1.5 billion in CHIPS Act monies before the new administration came in as per the milestone terms of its agreement.
The spokesperson declined comment on any possible changes to its agreement under Trump but said the company is continuing to engage with the Chips Program Office.
Samsung, SK Hynix and Hemlock Semiconductor declined to comment, while Bosch referred Reuters to the Chips Office. Micron and GlobalFoundries did not respond to requests for comment.
(Reporting by Mike Stone and Karen Freifeld in Washington, Fanny Potkin in Singapore, Wen-Yee Lee in Taipei and Stephen Nellis and Max Cherney in San FranciscoWriting by Stephen Nellis and Fanny Potkin; Editing by Chris Sanders and Matthew Lewis)
Production at Krastsvetmet precious metals plant in Krasnoyarsk · Reuters
By Polina Devitt
LONDON (Reuters) – Gold prices have marched into uncharted territory as bulls latch on to economic uncertainty created by U.S. import tariff plans, but behind the prize of hitting a record $3,000 per ounce, some flags of a bear case are also being planted.
Bullion has had a storming start to 2025, smashing eight records to rise more than 10% by February 11. That followed its biggest annual gain in 14 years in 2024, on a heady mix of strong central bank purchases, geopolitical uncertainties and monetary policy easing.
Gold’s appeal as a haven from risk strengthened further as newly elected U.S. President Donald Trump turned to tariffs to aid struggling domestic industry, despite the risk of sparking a trade war.
When Trump raised tariffs on steel and aluminium this week, spot gold hit a record $2,942.70 per ounce.
“What we have seen is the change in the motive for safe-haven buying – from being driven by the Middle East uncertainty to the threat and realisation of tariffs,” said Philip Newman, managing director at consultancy Metals Focus.
The scale of last year’s growth, which started before the Federal Reserve started easing interest rates, was unexpected, with investors apparently willing to disregard the opportunity cost of holding zero-yielding gold. The market also often de-coupled from other usual headwinds such as a stronger dollar.
“Strikingly, gold was rallying as inflation eased, and it looked as though all of our understanding of how gold prices behaved was being challenged,” said independent analyst Ross Norman.
Gold bulls have been emboldened by concerns that U.S. tariff plans could affect gold supplies to the United States, where Comex gold futures trade.
As a result, the premium at which most-active U.S. gold futures trade over the London spot price – historically just a few dollars – saw wild volatility and widened to $40 per ounce just before Trump’s inauguration on January 20 and more than $60 during the inauguration week.
Market players sought to benefit from a lucrative arbitrage opportunity or to cover their existing Comex positions, with the premium attracting massive deliveries to Comex gold inventories. These have jumped by 18.6 million troy ounces, worth $54 billion, since late November.
As bullion market players in London – home to the world’s largest over-the-counter gold trading hub – rushed to borrow gold from central banks storing bullion in Bank of England vaults, the waiting time to load gold out of the BoE swelled.
Switzerland and Asia-focused hubs saw a jump in supplies to the U.S., and gold lease rates surged both in London and India.
ACTIVITY PREDICTED TO FADE
But by Tuesday, the Comex premium had narrowed to $28 per ounce, and even while residuary inflows to Comex gold stocks continue, traders and analysts expect the activity to fade.
“Following a surge of gold imports into New York, it seems likely that the dislocation between New York futures prices and the London OTC market is nearing an end,” said John Reade, senior market strategist at the World Gold Council.
“As the next few weeks pass, queues getting gold from the Bank of England’s vaults should diminish, easing an apparent shortage of liquidity in the London market.”
Nicky Shiels, head of metals strategy at MKS PAMP SA, said that while prices could break out towards $3,200, resolution of physical gold dislocations attributed to tariffs and potential structural changes including reduced risk appetite, reduced participation and reduced liquidity are increasingly bearish.
She said her firm’s average price forecast for 2025 would remain at $2,750, with no intention to revise forecasts up. “If anything, the recent structural developments these past months have strengthened the bear case for gold,” she said.
Further pointing to potential easing in the rally once the situation with tariffs becomes clear, jewellery demand has been depressed by high gold prices, with discounts offered in key markets India and China. [GOL/AS]
Cartier maker Richemont said in November it was having to be “extremely cautious” about passing on soaring gold prices in its pricing of watches and jewellery.
Emerging market central banks, according to BofA Securities, are at risk of reducing gold buying if domestic currencies weaken on the U.S. tariffs.
Physically backed gold exchange-traded funds, which store bullion for investors, have also been relatively quiet, seeing inflows in Europe-listed funds but outflows in North America in January.
From a technical perspective, gold has been in the overbought zone of its relative strength index since the start of February. And gold can meet strong resistance around big milestones like $3,000 – gold faltered just above the $2,000 level several times before a decisive break last year.
(Reporting by Polina Devitt; Additional reporting by Ashitha Shivaprasad; Editing by Veronica Brown and Jan Harvey)
New inflation data out Wednesday showed headline consumer prices rose more than forecast in January as core prices reversed last month’s easing with the Federal Reserve’s path forward in focus.
The index rose 0.5% over the previous month, the largest monthly headline increase since August 2023 and a slight acceleration from the 0.4% rise seen in December. Economists had expected a 0.3% increase.
Seasonal factors like higher fuel costs and continued stickiness in food inflation kept the headline figures elevated. Notably, the index for eggs increased 15.2%, the largest increase since June 2015. It accounted for about two thirds of the total monthly food at home increase, according to the BLS.
On a “core” basis, which strips out the more volatile costs of food and gas, prices in January climbed 0.4% over the prior month, higher than December’s 0.2% monthly gain and the largest monthly rise since April 2023.
Core prices rose 3.3% over last year, marking an uptick from the 3.2% seen in December, which was the first time since July that year-over-year core CPI showed a deceleration in price growth.
Core inflation has remained stubbornly elevated due to sticky costs for shelter and services like insurance and medical care. Shelter did show some signs of easing last month, rising 4.4% on an annual basis, the smallest 12-month increase in three years.
It was a different story for used car prices, which saw another strong uptick for the fourth consecutive month. The index rose 2.2% in January after a 1.2% increase in December and a 2% monthly gain in November.
UNITED STATES – FEBRUARY 11: Federal Reserve Chairman Jerome Powell testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled “The Semiannual Monetary Policy Report to the Congress,” in Hart building on Tuesday, February 11, 2025. (Tom Williams/CQ-Roll Call, Inc via Getty Images) · Tom Williams via Getty Images
Although inflation has been slowing, it has remained above the Federal Reserve’s 2% target on an annual basis with economists and Fed officials pointing to a “bumpy” road ahead.
“There’s no sugarcoating this. This is not this is not a good print,” Claudia Sahm, chief economist at New Century Advisors and former Federal Reserve economist, told Yahoo Finance’s Morning Brief program.
“The one thing to say is this is a familiar disappointment,” she continued, noting the start of a new year has previously contributed to upside surprises. “Having a hot print in January in recent years has been a common occurrence. It’s also been a common occurrence that’s dissipated as the year has gone on. So this isn’t a deal breaker for the year as a whole, but it is certainly not a good way to start things off.”
Seema Shah, chief global strategist at Principal Asset Management, agreed, adding “seasonality and one-off factors may have played some role in the upside surprise.”
On Monday, President Trump announced global 25% tariffs on steel and aluminum imports, which will take effect on March 12. 25% tariffs on Mexico and Canada are set to come next month, while 10% duties on China have already been implemented.
Shortly after the release, traders scaled back expectations of a Fed rate cut, pricing in just one cut from the central bank this year. Stock futures also sold off on the news.
“The Fed is never going to overreact to one month of data,” Sahm said. “They’ve been telling us since December that they are in no hurry to adjust rates again and that will be reinforced today.”
“We’re back in the case of last year where we’re going to have to see months and months — getting out of the first quarter — of better inflation data before the Fed gets comfortable with it. So it really does push the timeline probably into the second half of the year [if] this ends up being the outlier.”
Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.
Kelowna, British Columbia–(Newsfile Corp. – February 12, 2025) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that persistent prospective geological characteristics were intersected in the last eight drill holes of the 2024 program focused on continued exploration and expansion of the B1 conductor and A1 extension, as well as further testing of the Harrison Fault area. Geochemistry and assay results from 25 drill holes from 2024 JR Zone and exploration drilling are still outstanding and will be incorporated into the 2025 drill planning and released as they come available.
B1 Conductor:
PLN24-188 tested the B1 conductor 120m north of PLN24-168 (currently the southernmost hole to intersect B1); the drillhole was lost in unconsolidated sand. Retested with hole PLN24-195 which intersected strong bleaching, clay and hematite alteration. PLN24-190 on line 3360S targeted between strong boron anomalies intersected in both PLN24-122 and PLN24-135. The hole intersected strong sandstone dissolution, graphitic faulting in basement and up to 420cps at 568.5m within a hematite altered fault zone. PLN24-193 attempted to test the Athabasca Sandstone above the B1 conductor in an area devoid of previous drilling. The hole intersected strong sandstone alteration and sulfides in the sandstone.
A1 Extension south of Harrison Fault:
PLN24-189 tested the A1 extension on line 3450S approximately 200m along strike south of radioactivity intersected in PLN24-187. The hole intersected 360cps at a depth of 419m and a strongly hematite, clay and sericite rich fault zone from 503.4-537.1m, interpreted to be the continuation of the A1 structure, extending the fault zone to nearly 620m south of Harrison Fault. PLN24-191 was abandoned prior to target depth due to excessive drillhole deviation.
Harrison Fault Area:
PLN24-192 tested the basement wedge along the Harrison Fault between holes PLN24-146 and PLN24-162. The hole successfully intersected the wedge and strong associated alteration, with the lower Athabasca Sandstone displaying strong alteration and dravite breccias (See Image 1). PLN24-194 was planned 100m northeast of hole PLN24-142, testing the Harrison Fault further to the northwest. The hole successfully intersected the fault zone from 266-335.5m containing strong graphite and sulphide alteration. The intersection of the Harrison Fault and the A1 and B1 conductors continues to display very encouraging alteration and large-scale complex structures supported by strong geochemistry, such as in drillhole PLN24-152. The area remains a high priority exploration target.
Map 1. Patterson Lake North, 2024 Scintillometer Results
Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials.
Samples from the drill core are split into half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.
The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as “high grade” and results greater than 20.0 weight % U3O8 as “ultra-high grade”.
All depth measurements reported are down-hole and true thicknesses are yet to be determined.
About the Patterson Lake North Property:
The Company’s 42,961-hectare 100% owned Patterson Lake North Project (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Paladin’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits, an area poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN Project consists of the 4,074-hectare Patterson Lake North Property, the 19,864-hectare Minto Property, and the 19,022-hectare Broach Property. All three properties comprising the PLN Project are accessed by Provincial Highway 955; the new JR Zone uranium discovery on the PLN property is located 23km northwest of Paladin’s Triple R deposit.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.
About F3 Uranium Corp.:
F3 Uranium is a uranium exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world’s largest high grade uranium deposits including Triple R and Arrow and poised to become the next major area of high grade uranium operations in the world.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
F3 Uranium Corp. 750-1620 Dickson Avenue Kelowna, BC V1Y9Y2
Contact Information Investor Relations Telephone: 778 484 8030 Email: ir@f3uranium.com
ON BEHALF OF THE BOARD “Dev Randhawa” Dev Randhawa, CEO
Vancouver, British Columbia–(Newsfile Corp. – February 11, 2025) – Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) (“Emperor“) is pleased to share the results from its 2024 drilling program, along with initial findings from its 2024 historical sampling program. The 2024 drilling program consisted of 8,166 meters across 19 drill holes, as well as approximately 8,000 meters of historical core assaying. To date, 100% of the new drilling assays have been reported; however, only 55% of the total assays for the 2024 season (including both new drilling and historical core resampling) have been finalized. All assays are expected to be completed by mid-February.
CEO John Florek commented:
“With intercepts like 43.9 m at 0.74 g/t Au (gold) in previously unsampled historical core and 2.5 m of 8.62 g/t Au, we are growing more confident in adding incremental ounces outside the known lenses. We are identifying new zones with both high-grade and lower-grade potential for open-pit mining, while also expanding these zones; critical for realizing our open-pit mining vision. We continue to extend the potential open-pit footprint, both at the margins and at depth.”
Highlights: (see tables 1 and 2 for complete results)
DQ24-18: Intersects 2.5 m of 8.62 g/t Au and 10.1 m of 0.5 g/t Au, expanding near-surface mineralization within the conceptual open-pit model.
DQ24-19: Intersects 4.7 m of 1.4 g/t Au and 9 m of 1.3 g/t Au, extending mineralization 70 m North-East within the conceptual open-pit shell.
DQ06-16 (Historical core): Adds 43.9 m of 0.74 g/t Au, including 17 m of 1.23 g/t Au and 9 m of 2.0 g/t Au, expanding mineralization westward in the Nip zone with minimal prior drilling.
DQ95-29 (Historical core): Adds 8.63 m of 1.26 g/t Au, expanding the deposit footprint 100 m westward into the hanging wall.
DQ06-01 (Historical core): Adds 7.25 m of 1.22 g/t Au, creating a new mineralized zone downhole within the current conceptual open-pit model, previously overlooked.
DO-10-12 (Historical core): Adds 15.05 m of 0.9 g/t Au, expanding the original zone near-surface within the open-pit model.
Ongoing exploration efforts continue to demonstrate significant potential for resource expansion both within and along strike of the conceptual open pit. This includes the discovery of previously unrecognized low-grade bulk tonnage zones, as well as high-grade gold lenses containing visible gold.
These findings are expected to make a significant contribution to the upcoming Q1 mineral resource estimate.
A total of 55% of the assays for the 2024 season have been reported to date. By focusing on near-surface drilling for open-pit mining, Emperor aims to economically expand its resource base by including lower grades in the conceptual open-pit environment compared to higher grades in an underground mining scenario. Deposits in the region with currently active open pits have been economic at grades equal 0.30 g/t Au (see Agnico Eagles press release dated Feb 15, 2024 – Detour Lake Deposit cut-off grade, pg. 52.)
Emperor is targeting a multi-million-ounce resource, utilizing a combination of conceptual open-pit and underground mining scenarios. The Property currently hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au. Emperor is committed to delivering an updated Mineral Resource Estimate in Q1 or Early Q2 of 2025.
Figure 1: Location of DQ24-17 to DQ24-19 drill holes and reported results from previously unsampled historical core.
The 2024 drilling continues to validate low-grade bulk-tonnage and high-grade mineralization inside and external to the conceptual open-pit concept. In addition, the latest results from the historical sampling program have expanded zones of mineralization that were not identified in the historical core prior to Emperor Metals acquiring the property, adding incremental ounces to the deposit.
DQ24-18
Drillhole DQ24-18 intersected a significant zone of near-surface, high-grade gold mineralization within a mafic flow, featuring quartz-calcite veining, sericite stringers, and up to 1% pyrite mineralization associated with the veins.
DQ24-19
Drillhole DQ24-19 intersected multiple mineralized zones, including 4.7 m of 1.4 g/t Au in a mafic flow with chloritization, silicification, hematization, and 1-2% fine-grained pyrite. A lower intersection of 9 m of 1.3 g/t Au is located at the margins of a QFP and ultramafic unit, showing strong silicification, sericite stringers, and up to 3% fine-grained disseminated pyrite.
DQ06-16 (Historical core)
Historical core sampling of DQ06-16 identified a significant mineralized zone of 43.9 m at 0.74 g/t Au, which was previously overlooked by other companies. The zone is located in a Quartz Felspar Porphyry, featuring 2% pyrite mineralization, quartz-carbonate veins, and sericite alteration. This previously unsampled drillhole intercept highlights the value of assaying unsampled historical core, which is expected to positively impact the economics of the deposit.
DQ95-29 (Historical core)
Historical core sampling revealed a new interval, previously unsampled, with 8.63 m of 1.26 g/t Au. The zone consists of a weakly hematized mafic flow with small brecciated intervals, quartz-carbonate veining, and up to 1% pyrite.
DQ06-01 (Historical core)
Another significant new interval, previously unsampled, returned 7.25 m of 1.22 g/t Au, including 1.2 m of 6.85 g/t Au. The zone is located in a massive fine-grained mafic flow with carbonate stringers and up to 3% disseminated pyrite.
DO-10-12 (Historical core)
The project continues to add bulk tonnage to the conceptual open-pit model with the addition of 15.05 m of 0.9 g/t Au. This section is located within a shear zone containing a massive diorite, surrounded by andesitic and felsic rocks. The shear zone hosts approximately 2-3% pyrite, with local quartz-carbonate veinlets.
Strategic Plan
The 2024 drilling campaign at Emperor’s Duquesne West Gold Project in Quebec continues to identify extensive low-grade bulk tonnage zones surrounding the previously known high grade areas. These latest results further solidify the project’s immense potential and underscore the company’s commitment to unlocking substantial value for its shareholders.
The 2024 season leverages advanced exploration techniques to test several scenarios to add ounces and/or expand the footprint:
Explore Lower Grade Discoveries: Target additional discoveries within the host rock containing high-grade gold lenses, focusing on the conceptual open-pit model.
Increase the Thickness of the High-Grade Lenses: Incorporate previously unaccounted lower-grade gold from the margins of high-grade lenses to enhance their overall thickness.
Expand Mineralized Zones: Extend the lateral footprint of mineralized zones along strike and dip.
Discover New Zones: Explore potential new zones not yet included in the conceptual open-pit model, with a particular focus on eastward expansion.
These latest results continue to build on the strong momentum generated by last year’s drilling program and confirm the presences of extensive low grade bulk tonnage zones surrounding the known high-grade regions.
Table 1 – Intercept Highlights- Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%.
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t Au)
DQ24-171
8.7
9.7
1
0.34
Note1
9.7
10.7
1
0.005
10.7
11.7
1
0.11
11.7
12.7
1
1.27
12.7
13.7
1
0.74
13.7
14.7
1
0.17
14.7
15.7
1
0.01
15.7
16.7
1
0.28
16.7
17.7
1
0.06
17.7
18.7
1
0.28
Wt. Avg.
10
0.3
DQ24-171
27.7
28.7
1
0.34
28.7
29.7
1
0.34
29.7
30.7
1
0.42
30.7
31.7
1
0.18
31.7
32.7
1
0.33
Wt. Avg.
5
0.3
DQ24-171
53.2
54.2
1
0.94
DQ24-171
112.6
113.6
1
0.58
113.6
114.6
1
0.42
Wt. Avg.
2
0.5
DQ24-171
150.6
151.6
1
0.22
151.6
152.6
1
0.29
152.6
153.6
1
0.11
153.6
154.6
1
0.68
154.6
155.6
1
0.59
155.6
156.6
1
0.27
156.6
157.6
1
0.16
157.6
158.6
1
0.28
158.6
159.6
1
0.22
159.6
160.6
1
0.28
Wt. Avg.
10
0.3
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t Au)
DQ24-181
18.3
19.8
1.5
2.1
Note1
19.8
20.9
1.1
0.005
Note1
20.9
23.4
2.5
0.005
Note1
23.4
25.9
2.5
0.005
25.9
28.4
2.5
0.86
Wt. Avg.
10.1
0.5
DQ24-181
65.8
68.3
2.5
8.62
DQ24-181
108.4
109.4
1
2.85
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t Au)
DQ24-191
75.3
77.2
1.9
0.16
77.2
78.2
1
0.005
78.2
79.2
1
0.63
79.2
80.2
1
0.8
Wt. Avg.
4.9
0.4
DQ24-191
94.5
95.8
1.3
0.66
95.8
98.3
2.5
0.09
98.3
100.8
2.5
0.06
100.8
103.3
2.5
0.08
103.3
105.8
2.5
0.8
Wt. Avg.
11.3
0.3
DQ24-191
182.3
183.3
1
0.13
183.3
184.3
1
0.28
184.3
185.3
1
0.05
185.3
187
1.7
3.61
Wt. Avg.
4.7
1.4
DQ24-191
265.7
266.7
1
0.23
266.7
267.7
1
8.86
267.7
268.7
1
0.14
268.7
269.7
1
0.5
269.7
270.7
1
0.08
270.7
271.7
1
0.24
271.7
272.7
1
0.02
272.7
273.7
1
1.29
273.7
274.7
1
0.2
Wt. Avg.
9
1.3
DQ24-191
284.7
285.7
1
0.65
285.7
286.7
1
0.28
Wt. Avg.
2
0.5
DQ24-191
302.7
303.7
1
0.41
303.7
304.7
1
0.01
304.7
305.7
1
0.43
305.7
306.7
1
0.38
306.7
307.7
1
0.01
307.7
308.7
1
0.94
308.7
309.7
1
0.06
309.7
310.7
1
0.46
310.7
311.7
1
0.08
311.7
312.7
1
0.04
312.7
313.7
1
0.04
313.7
314.7
1
0.05
314.7
315.7
1
0.96
Wt. Avg.
13
0.3
1Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%. 2Value reported below detection limit of <0.01. Value was numerically halved to assign a real number.
Table 2 – Historical core sampling Highlights- Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%. Yellow highlighted tags represent 2024 historical core sampling previously not sampled.
Hole No.
Sample ID
From (m)
To (m)
Interval (m)
Au (g/t Au)
DQ06-161
D00296405
256.1
257.05
0.95
2.88
D00296406
257.05
258
0.95
0.005
D00296407
258
259
1
0.04
D00296408
259
260
1
0.31
D00296409
260
261
1
0.13
D00296411
261
262
1
0.005
D00296412
262
263
1
0.005
84175
263
264
1
2.57
D00296413
264
265
1
4.84
D00296414
265
266
1
0.70
D00296415
266
267
1
1.41
D00296416
267
268
1
2.03
D00296417
268
269
1
3.43
D00296418
269
270
1
0.77
84176
270
271
1
0.37
84177
271
272
1
1.92
84178
272
273
1
0.15
D00296419
273
274
1
0.05
D00296421
274
275
1
0.26
D00296422
275
276
1
0.09
D00296423
276
277
1
0.44
D00296425
277
278
1
0.05
D00296426
278
279
1
0.01
84179
279
280
1
1.87
84180
280
281
1
0.20
D00296427
281
282
1
0.07
D00296428
282
283
1
0.01
D00296429
283
284
1
0.005
D00296431
284
285
1
0.04
D00296432
285
286
1
0.005
D00296433
286
287
1
1.95
D00296434
287
288
1
1.13
D00296435
288
289
1
0.82
D00296436
289
290
1
0.46
D00296437
290
291
1
0.01
D00296438
291
292
1
0.005
D00296439
292
293
1
0.005
D00296441
293
294
1
0.40
D00296442
294
295
1
0.005
D00296443
295
296
1
0.12
D00296444
296
297
1
0.005
D00296445
297
298
1
0.02
D00296446
298
299
1
1.82
D00296447
299
300
1
1.09
Wt. Avg.
43.9
0.74
Including (263-290m)
27
0.95
Including (263-280m)
17
1.23
Including (263-272m)
9
2.00
Hole No.
Sample ID
From (m)
To (m)
Interval (m)
Au (g/t Au)
DQ95-291
D00295713
420
421.2
1.2
7.62
D00295714
421.2
422.4
1.2
0.02
D00295715
422.4
423.6
1.2
0.04
D00295716
423.6
424.8
1.2
0.005
D00295717
424.8
426
1.2
0.005
6502
426
426.75
0.75
0.02
5905
426.75
428.63
1.88
0.89
Wt. Avg.
8.63
1.26
Including (420-421.2m)
1.2
7.62
Hole No.
Sample ID
From (m)
To (m)
Interval (m)
Au (g/t Au)
DQ06-011
D00287734
397.55
398.55
1
0.10
D00287735
398.55
399.55
1
0.19
62680
399.55
400.15
0.6
0.15
D00287736
400.15
401.4
1.25
0.05
D00287737
401.4
402.6
1.2
0.03
D00287738
402.6
403.8
1.2
6.85
62681
403.8
404.8
1
0.17
Wt. Avg.
7.25
1.22
Including (402.6-403.8m)
1.2
6.85
Hole No.
Sample ID
From (m)
To (m)
Interval (m)
Au (g/t Au)
DO-10-121
47003
70.95
71.65
0.7
14.13
47004
71.65
72.85
1.2
0.067
47005
72.85
74.05
1.2
0.018
47006
74.05
75.2
1.15
0.089
47008
75.2
76.2
1
0.02
D00285086
76.2
77.6
1.4
0.05
D00285087
77.6
79
1.4
0.17
D00285088
79
80
1
0.38
D00285089
80
81
1
0.69
D00285091
81
82
1
0.74
D00285092
82
83
1
0.76
D00285093
83
84
1
0.28
D00285094
84
85
1
0.2
D00285095
85
86
1
0.12
Wt. Avg.
15.05
0.90
1Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%.
Quality Assurance and Control
The Quality Assurance and Quality Control (QAQC) was conducted by Technominex, a geological contractor hired by Emperor Metals, which adheres to CIM Best Practices Guidelines for exploration related activities conducted at its facility in Rouyn Noranda, Quebec. The QA/QC procedures are overseen by a Qualified Person on site.
Emperor Metals QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and lab duplicates within the sample stream totaling approximately one QA/QC sample per 7 samples. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags with appropriate tags and shipped to the SGS Sudbury laboratory and the other half retained on site in the original core box. A dispatch list consists of 88 or 176 samples along with their corresponding QA/QC samples for a single batch. This allows complete batches (88 samples) for fire assay. A file for sample tracking records tags used and weights of sample bags shipped to the SGS Lakefield. Shipment is done by Manitoulin Transport and coordination by Technominex staff in Rouyn-Noranda.
The third-party laboratory, SGS prep laboratory in Sudbury Ontario, processes the shipment of samples using standard sample preparation (code PRP91) and produces pulps from the specified samples. The pulps are then sent off to SGS Burnaby for analysis. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility all the way to analysis at the SGS Burnaby B.C. laboratory.
Analytical testing is performed by SGS laboratories in Burnaby, British Columbia. The entire sample is crushed to 75% passing 2mm, with a split of 500g pulverized to 85% passing 75 microns. Samples are then analyzed using Au – ore grade 50g Fire Assay, ICP-AES with reporting limits of 0.01 -100 part per million (“ppm“). High grade gold analysis based on the presence of visible gold or a fire assay result exceeding 100 ppm, are analyzed by Au – metallic screening, 1kg screened to 106μm, 50g fire assay, gravimetric, AAS or ICP-AES of entire plus fraction and duplicate analysis of minus fraction. Reporting limit 0.01ppm.
About the Duquesne West Gold Project
The Duquesne West Gold Property is located 32 km northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet, Quebec, Canada. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt in the Superior Province.
Under an Option Agreement, Emperor agreed to acquire a 100% interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha, located in the Duparquet Township of Quebec (the “Duquesne West Property“) from Duparquet Assets Ltd., a 50% owned subsidiary of Globex Mining Enterprises Inc. For further information on the Duquesne West Property and Option Agreement, see Emperor’s press release dated Oct. 12, 2022, available on SEDAR.The Property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au1,2. The mineral resource estimate predates modern Canadian Institute of Mining and Metallurgy (“CIM“) guidelines and a Qualified Person on behalf of Emperor has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. The gold system remains open for resource identification and expansion.
A reinterpretation of the existing geological model was created using AI and Machine Learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold- endowed structural zones.
Multiple scenarios exist to expand additional resources which include:
Underground High-Grade Gold.
Open Pit Bulk Tonnage Gold.
Underground Bulk Tonnage Gold.
QP Disclosure
The technical content for the Duquesne West Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person pursuant to CIM guidelines.
About Emperor Metals Inc.
Emperor Metals Inc. is a high-grade gold exploration and development junior mining company focused on Quebec’s Southern Abitibi Greenstone Belt, leveraging AI-driven exploration techniques. The company is dedicated to unlocking the substantial resource potential of the Duquesne West Gold Project and the Lac Pelletier Project (currently under purchase agreement) both situated in this Tier 1 mining district.
The company is led by a dynamic group of resource sector professionals who have a strong record of success in evaluating and advancing mining projects from exploration through to production, attracting capital and overcoming adversity to deliver exceptional shareholder value. For more information, please refer to SEDAR+ (www.sedarplus.ca), under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Florek” John Florek, M.Sc., P.Geol President, CEO and Director Emperor Metals Inc.
Contact: John Florek President/CEO T: (807) 228-3531
Certain statements made and information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the company and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates,” “believes,” “targets,” “estimates,” “plans,” “expects,” “may,” “will,” “could” or “would.”
Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
1 Watts, Griffis, and McOuat Consulting Geologists and Engineers, Oct. 20, 2011, Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman Property, Quebec, Canada, for XMet Inc.
2 Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered historical in nature as it was constructed prior to the most recent CIM standards (2014) and guidelines (2019) for mineral resources. In addition, the economic factors used to demonstrate reasonable prospects of eventual economic extraction for the MRE have changed since 2011. A qualified person has not done sufficient work to consider the MRE as a current MRE. Emperor is not treating the historical MRE as a current mineral resource. The reader is cautioned not to treat it, or any part of it, as a current mineral resource.
Kelowna, British Columbia–(Newsfile Corp. – February 11, 2025) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that ground geophysical exploration programs have commenced on the Broach and Minto Properties. A total of 55 line km of Moving Loop TDEM ground EM will be undertaken on two grids of interest testing suspected conductive corridors previously identified by airborne surveys, and both parallel to the A1 conductor system which hosts the high grade JR Zone on the PLN property.
Minto Property: A4 Grid
14 line-km of MLTDEM ground geophysics testing an approximately 7,200m long conductive corridor identified by airborne MobileMT which was flown by F3 in 2023. F3 has one hole drilled on this grid in 2014; PLN14-021 intersected up to 44ppm uranium in basement, and 698ppm boron directly above the Athabasca Unconformity at 413m. Anomalous geochemistry and proximity to the Harrison fault in a corridor parallel to the A1 conductor make this grid a strong exploration target area.
Broach Property: PW Grid
41 line-km of MLTDEM ground geophysics covering a suspected conductive trend, approximately 12km south of, and parallel to the JR Zone. This particular area of the Broach property hosts thick discontinuous layers of conductive mudstones and these flat lying conductive units hampered the effectiveness of a previously flown airborne EM (VTEMmax) survey flown in 2014. Ground based geophysics is anticipated to effectively penetrate the conductive cover allowing for drill target generation. Due to its location near the interpreted Athabasca Basin boundary and the historic difficulty of exploring under conductive cover, this large area remains underexplored.
Sam Hartmann, Vice President Exploration, commented:
“We are excited with the prospect of upgrading the Broach and Minto properties to the drilling stage with this round of ground EM, which we anticipate assisting in reducing broader airborne conductivity responses to more precise conductor models for drill testing. At the A4 grid, where some historic ground EM coverage prompted us to drill a single hole in 2014, this new ground EM will give us an improved conductor model, in a strategic location near the projected confluence of the Harrison Fault with the A4 conductive corridor. At the PW grid, we are aiming to generate a conductivity model in an area where no previous airborne EM conductors have been clearly identified, near the margins of the Athabasca Basin in an area of very limited historical drilling. Identifying ground conductors near the present day margins of the basin is something that we are specifically interested in. Additionally, recent re-modelling of historic ground EM surveys south of Broach Lake has resulted in an additional target; the northeast trending BRS conductor. This suspected structure sits along favorable MT conductivity, and we look forward to upgrading the BRS conductor to the drilling stage as well with ground EM surveying.”
Map 1. Broach and Minto Properties, 2025 Exploration
The Company’s 42,961-hectare 100% owned Patterson Lake North Project (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN Project consists of the 4,074-hectare Patterson Lake North Property, the 19,864-hectare Minto Property, and the 19,022-hectare Broach Property. All three properties comprising the PLN Project are accessed by Provincial Highway 955; the new JR Zone uranium discovery on the PLN property is located 23km northwest of Fission Uranium’s Triple R deposit.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.
About F3 Uranium Corp.:
F3 Uranium is a uranium exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world’s largest high grade uranium deposits including Triple R and Arrow and poised to become the next major area of high grade uranium operations in the world.
Forward Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
F3 Uranium Corp. 750-1620 Dickson Avenue Kelowna, BC V1Y9Y2
Contact Information Investor Relations Telephone: 778 484 8030 Email: ir@f3uranium.com
ON BEHALF OF THE BOARD “Dev Randhawa” Dev Randhawa, CEO
North Vancouver, British Columbia–(Newsfile Corp. – February 6, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to announce that in response to market demand, it has arranged, subject to the approval of the TSX Venture Exchange (“TSX-V”), a non-brokered private placement (the “Sidecar Private Placement”) of up to 5,882,353 units (the “Units”) at a price of $0.34 per Unit for total gross proceeds of up to $2,000,000. Each Unit consists of one common share (the “Common Shares”) and one Common Share purchase warrant (the “Warrants”), each such Warrant exercisable at a price of $0.41 per share and expiring 36 months from the date of issue.
The Sidecar Private Placement reflects the same terms as the previously announced $7.5 million underwritten offering (the “Offering”) led by Stifel Nicolaus Canada Inc. as lead underwriter and sole bookrunner and a syndicate of underwriters (collectively the “Underwriters”). However, the Sidecar Private Placement will be settled directly with the Company and not through the Underwriters. The Company may pay a finder’s fee on the Sidecar Private Placement in accordance with the policies of the TSX-V. The net proceeds of the Sidecar Private Placement will be used for development and exploration expenditures at the Company’s projects in Fiji, working capital and for general corporate purposes. All securities issuable pursuant to the Sidecar Private Placement will be subject to a four month hold period in accordance with applicable Canadian securities laws. The Sidecar Private Placement is expected to complete concurrently with the Offering.
Certain subscribers under the Sidecar Private Placement are expected to be directors and management of the Company. The issuance of Units to directors and management of the Company will constitute a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61- 101”). The transactions will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.
The securities referred to herein 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 U.S. state securities laws, and may not be offered or sold in the “United States” (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable U.S. state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors Walter Berukoff, Chairman and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding the results of the Offering and associated marketing efforts, the use of proceeds of the Offering, and the anticipating closing date of the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Offering, the conditions of the financial markets, availability of financing, timeliness of completion of the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca, including the Prospectus Supplements. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
ST. LOUIS, Feb. 6, 2025 /PRNewswire/ — Peabody (NYSE: BTU) announced today that its Board of Directors has declared a quarterly dividend on its common stock of $0.075 per share, payable on March 11, 2025 to stockholders of record on February 19, 2025.
Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future. For further information, visit PeabodyEnergy.com.
This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “projects,” “forecasts,” “targets,” “would,” “will,” “should,” “goal,” “could” or “may” or other similar expressions. Forward-looking statements provide management’s current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements. They may include estimates of sales and other operating performance targets, cost savings, capital expenditures, dividends, share repurchases, other expense items, actions relating to strategic initiatives, demand for the company’s products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management’s plans or objectives for future operations and descriptions of assumptions underlying any of the above. The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company’s financial results, cash flow and cash requirements, future prospects, and other factors deemed relevant by the Board. All forward-looking statements speak only as of the date they are made and reflect Peabody’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody’s control, that are described in Peabody’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody’s website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
In this episode of ‘Proven and Probable,’ we engage with Bob Moriarty, a distinguished commentator on geopolitical and economic affairs. Bob’s extensive experience includes serving as a Marine F-4B pilot during the Vietnam War, where he flew over 820 combat missions and became one of the most highly decorated pilots of the conflict.
We delve into the recent tragic collision between an American Airlines plane and a military helicopter near Washington, D.C., exploring Bob’s insights on the incident, the National Transportation Safety Board’s investigative approach, and media coverage.
The discussion also covers U.S. tariff policies, international responses, and the current state of gold and precious metals, providing a comprehensive analysis of these pressing issues.
Join us for an in-depth conversation that offers clarity and depth on these complex topics.
In the news release, Lion One Announces Overnight Marketed Offering, issued 05-Feb-2025 by Lion One Metals Limited over PR Newswire, we are advised by the company that instances of the word “Underwriters” have been updated to “Underwriter” in the 2nd, 3rd, and 6th paragraphs. The 4th paragraph has also been updated with additional information regarding the Warrant Shares. The complete, corrected release follows:
Lion One Announces Overnight Marketed Offering
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/
NORTH VANCOUVER, BC, Feb. 5, 2025 /CNW/ – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to announce that it is commencing an overnight marketed public offering of units (the “Offered Units“) of the Company for anticipated gross proceeds of up to C$7.5 million (the “Offering“).
The Offering is expected to be completed pursuant to an underwriting agreement (the “Underwriting Agreement“) to be entered into between the Company, Stifel Nicolaus Canada Inc. as lead underwriter and sole bookrunner (“Stifel” or “Lead Underwriter“), and a syndicate of underwriters to be determined (collectively with the Lead Underwriter, the “Underwriters“).
In connection with the Offering, up to 22,058,824 units (the “Units“) of Lion One will be issued at a price of C$0.34 per Unit (the “Issue Price“) for total gross proceeds of up to C$7,500,000 (the “Offering“). In addition, the Company will grant the Underwriter an over-allotment option (the “Over-Allotment Option“) exercisable, in whole or in part, in the sole discretion of the Underwriter, to purchase up to an additional 15% of the number of Offered Units sold in the Offering for up to 30 days after the closing, on the same terms and conditions as the Offering.
Each Unit will consist of one (1) common share of the Company (a “Share“) plus one (1) common share purchase warrant (each a whole common share purchase warrant, a “Warrant“). Each Warrant will entitle the holder thereof to purchase one Share (a “Warrant Share“) at an exercise price of C$0.41 for 36 months following the closing of the Offering.
The net proceeds received by the Company from the sale of the Offered Units will be used for development and exploration expenditures at the Company’s projects in Fiji, working capital and for general corporate purposes.
The Offering will be made by way of a prospectus supplement (the “Prospectus Supplement“) to the Company’s existing Canadian short form base shelf prospectus dated January 31, 2025 (the “Base Shelf Prospectus“). Upon completion of pricing of the Offering and the signing of the Underwriting Agreement, the Prospectus Supplement will be filed with the securities commissions in each of the provinces of Canada. and will be available on SEDAR+ at www.sedarplus.ca. Alternatively, the Prospectus Supplement and related Base Shelf Prospectus may be obtained upon request by contacting the Company or Stifel in Canada, attention: ProspectusCanada@stifel.com. The Offered Units will be offered in all provinces and territories of Canada except Québec and Nunavut. The Offered Units will not be offered or sold in the United States except under or Regulation D or in such other manner as to not require registration under the United States Securities Act of 1933, as amended. The Offered Units may also be offered in those jurisdictions outside of Canada and the United States as agreed to by the Company and the Underwriter provided that no prospectus filing or comparable obligation arises and the Company does not thereafter become subject to continuous disclosure obligations in such jurisdictions.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful. No securities may be offered or sold in the United States or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom or qualification under the securities laws of such other jurisdiction or an exemption therefrom. The closing of the Offering is expected to occur on or about February 14, 2025 and is subject to the completion of formal documentation and receipt of regulatory approvals, including the approval of the TSX Venture Exchange.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors Walter Berukoff, Chairman and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding the results of the Offering and associated marketing efforts, the use of proceeds of the Offering, and the anticipating closing date of the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Offering, the conditions of the financial markets, availability of financing, timeliness of completion of the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca, including the Prospectus Supplements. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
