Gold prices were up again this week, trading at $1,315.33 per ounce as of 11:49 a.m. EST. Prices gained 4.24 percent for the week overall.
With the Brexit vote closing on Thursday, prices traded as high as $1,351.60 per ounce early Friday morning. That’s the highest price for the yellow metal in nearly two years, according to Market Watch. Investors surged to buy the metal after the UK’s decision to leave the European Union.
With a 52 percent vote to leave the EU, the British pound dropped 11 percent to 1.33, marking levels that haven’t been seen since 1985. This helped give further support to gold.
In the coming weeks, some say the Brexit could push the gold price as high as $1,400 an ounce.
Similar to gold, silver prices rose steadily through the week due to the British referendum, reaching as high as $17.98 early Friday morning. Prices dropped slightly back down to $17.67 as of 12:00 p.m. EST, but overall, the white metal is up 2.02 percent this week.
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In the base metals sector, comex copper prices increased 0.01 percent to trade at $2.10 per pound as of 12:00 p.m. EST. Despite seeing a price increase over the week, the metal dropped Friday as worries about economic growth rose following the referendum, as reported by Reuters.
Lastly, while spot oil prices were on the rise early in the week, they were down for the week overall, dropping drastically after the Brexit. Oil was down by 2.93 percent for the week overall to trade at $47.76 per barrel as of 12:50 p.m. EST.
In New York, oil prices fell about 5 percent after the UK vote, which sparked the possibility of the US dollar rallying from a three-month long recovery in global oil markets, according to Reuters.
Oil prices held above the previous week’s one-month lows, but some analysts say oil could face further pressure.
“Our view is that we have not yet seen the low oil price of the day with Brent likely to trade down towards $45 or lower before we have seen the worst of it,” Bjarne Schieldrop, chief commodity analyst at SEB, said in note to clients.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Related reading:
Weekly Round-Up: Gold Price Briefly Tops $1,300
Weekly Round-Up: Gold Boom
Weekly Round-Up: Gold Price Leaps on US Jobs Data
Weekly Round-Up: Gold Prices Dip on Increased Rate Hike Speculation
Weekly Round-Up: Gold Price Falls on Dollar Strength
Weekly Round-Up: Gold and Silver Keep Rising
Weekly Round-Up: Gold Rises on US Jobs Data
Weekly Round-Up: Gold, Silver, Copper Gain on Weaker US Dollar
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CALGARY, ALBERTA–(Marketwired – June 23, 2016) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (TSX VENTURE:BCN) (AIM:BCN), the AIM and TSX Venture Exchange listed lithium and borates company focussed on Mexico, announces that it plans to re-domicile its governing corporate jurisdiction from Canada to the UK. The Board of Bacanora has made its decision to re-domicile in consideration of the success of the Company’s AIM listing and the positive reception from UK investors, as demonstrated by the addition of two major institutions to its shareholder register in the last eight months. The decision also reflects the fact that the Company’s senior management team is increasingly based in the UK. The Board anticipates that the re-domicile will result in significant cost and administrative savings for the Company and its subsidiaries (“the Group”).
To facilitate the re-domicile, all existing common shares in Bacanora will be exchanged for ordinary shares in Bacanora Lithium Plc (“Bacanora UK”), a company that has been established in the UK to become the new holding company for the Group by way of a plan of arrangement in Canada (the “Transaction”). The share capital of Bacanora UK will be identical to the existing share capital of Bacanora and the rights attaching to the new shares in Bacanora UK will be substantially the same as for the current Bacanora shares. In all other respects, the Group will remain unchanged as a result of the Transaction.
The Transaction will be subject to shareholder and Canadian court approval. The Company will shortly send to shareholders a circular setting out full details of the Transaction and containing notice of a general and special meeting to consider and, if thought fit, approve the Transaction. Prior to the Transaction becoming effective, it is proposed that Bacanora UK will apply for its ordinary shares to be admitted to trading on AIM and the admission of Bacanora shares to AIM and Bacanora Canada will apply for de-listing from the TSX Venture Exchange once the Transaction has become effective.
ABOUT BACANORA:
Bacanora is a Canadian and London listed minerals explorer (AIM and TSX-V: BCN). The Company explores and is developing industrial mineral projects, with a primary focus on its lithium project. The Company’s operations are based in Hermosillo in northern Mexico. The main assets of Bacanora are:
Reader Advisory
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to the potential re-domicile to the UK, distribution of a circular to shareholders and the holding of a meeting thereof; and the application of Bacanora UK for admission to AIM and the de-listing of Bacanora Canada from the TSX Venture Exchange. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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.
(1) LCE is the industry standard terminology for, and is equivalent to, Li2CO3. 1 ppm Li metal is equivalent to 5.32 ppm LCE / Li2CO3.. Use of LCE is to provide data comparable with industry reports and assumes complete conversion of lithium in clays with no recovery or process losses.
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Sociedad Química y Minera de Chile S.A.(NYSE:SQM) has initiated a new claim as part of its arbitration process with SQM.
As quoted in the press release:
SQM will make a claim surrounding the Company’s global sales of lithium since 1997, and the rental payments associated with these sales.
SQM requests that, with all the facts -and not only from the arbitrarily selected period as CORFO has sought in its previous claims- the arbitrator determine whether or not the payments have been paid correctly, and whether or not there have been tax losses according to how the contract was executed by the parties at beginning and were paid throughout the life of the contract.
SQM believes that it has calculated and made the appropriate rental payments since it began selling lithium in 1997, and maintains its position that it has not committed any errors.
Click here for the full press release.
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VANCOUVER, BC–(Marketwired – June 24, 2016) – UEX Corporation (TSX: UEX) (“UEX” or the “Company”) is pleased to announce the radiometric results of drill hole CB-092-1 at the Christie Lake Project (the “Project”), where UEX has a $2.75 million drill program which recommenced in mid-June. The Project is owned 10% by UEX and 90% by JCU (Canada) Exploration Company Limited (“JCU”). UEX holds an option to earn up to a 70% interest in the Project.
Radiometric Equivalent Grades (“REGs” or “eU3O8“) from down-hole probe results from hole CB-092-1 (see Figure 1) intersected widespread uranium mineralization within which a high-grade core averaged 3.82% eU3O8 over 2.6 m (507.25 to 509.85 m). Within this core zone, a higher grade subinterval of 8.09% eU3O8 over 1.0 m was also encountered.
The eU3O8 grade was estimated in-situ within the drill hole using calibrated down-hole radiometric gamma probes. Samples from hole CB-092-1 (an offcut from hole CB-092 drilled this past winter) have been collected for assay analysis to confirm these equivalent grades. The samples will be analyzed at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan, with results expected in the coming weeks.
“By intersecting high grades, hole CB-092-1 is the first step in validating our view that a high grade core exists within the Paul Bay Deposit at Christie Lake.” – Roger Lemaitre, President & CEO, UEX Corporation
The objectives of the current exploration program at Christie Lake are to expand the high grade core of the known Paul Bay Deposit and to extend the deposit in the down-dip direction where it appears to be open for expansion (see Figure 1). The depth of the unconformity in the Paul Bay Deposit area is approximately 425 m.
About the Christie Lake Project
UEX currently holds a 10% interest in the Christie Lake Project and is working under an option agreement to earn up to a 70% interest. The Project is located approximately 9 km northeast and along strike of Cameco’s McArthur River Mine, the world’s largest uranium producer. The P2 Fault, the controlling structure for all of the McArthur River deposits, continues to the northeast beyond the mine. UEX believes that through a series of en-echelon steps the northeast strike extension of the P2 Fault not only crosses the Project but also controls the two known uranium deposits on Christie Lake, the Paul Bay and Ken Pen Deposits.
The Paul Bay and Ken Pen Deposits are estimated to host a combined 20.87 million pounds of U3O8 at an average grade of 3.22% U3O8 and were discovered in 1989 and 1993 respectively. This is a historic resource estimation which does not use resource classifications consistent with NI 43-101. The historical resource estimate was presented in an internal report titled Christie Lake Project, Geological Resource Estimate completed by PNC Tono Geoscience Center, Resource Analysis Group, dated September 12, 1997. The historical resource was calculated using a 3 D block model using block sizes of 2 m by 2 m by 2 m, and block grades interpolated using the inverse distance squared method over a circular search radius of 25 m and 1 m height. Specific gravities for each deposit were averaged from specific gravity measures of individual samples collected for assay. UEX plans to complete additional infill drilling on the deposits during the option earn-in period to upgrade these historic resources to indicated and inferred. A qualified person has not done sufficient work to classify the historic estimate as current mineral resources or mineral reserves. UEX is not treating the historic estimate as current mineral reserves or mineral resources.
Qualified Persons and Data Acquisition
Technical information in this news release has been reviewed and approved by Roger Lemaitre, P.Eng., P.Geo., UEX’s President and CEO and Trevor Perkins, P.Geo., UEX’s Exploration Manager, who are each considered to be a Qualified Person as defined by National Instrument 43-101.
About UEX
UEX (TSX: UEX) (OTC PINK: UEXCF) (FRANKFURT: UXO) is a Canadian uranium exploration and development company involved in sixteen uranium projects, including four that are 100% owned and operated by UEX, one joint venture with AREVA that is operated by UEX, as well as nine joint ventures with AREVA, one joint venture with AREVA and JCU (Canada) Exploration Company Limited, which are operated by AREVA, and one project (Christie Lake) under option from JCU (Canada) Exploration Company Limited and operated by UEX. The sixteen projects are located in the eastern, western and northern perimeters of the Athabasca Basin, the world’s richest uranium belt, which in 2015 accounted for approximately 22% of the global primary uranium production. UEX is currently advancing several uranium deposits in the Athabasca Basin which include the Christie Lake deposits, the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project and the Horseshoe, Raven and West Bear deposits located at its 100%-owned Hidden Bay Project.
About JCU
JCU is a private company that is actively engaged in the exploration and development in Canada. JCU is owned by three Japanese companies. Amongst these, Overseas Uranium Resources Development Co., Ltd. (“OURD”) acts as the manager of JCU. JCU has partnerships with UEX, AREVA, Cameco, Denison and others on uranium exploration and development projects in the Athabasca Basin of Northern Saskatchewan including Millennium and Wheeler River and the Kiggavik project in the Thelon Basin in Nunavut.
Forward-Looking Information
This news release may contain statements that constitute “forward-looking information” for the purposes of Canadian securities laws. Such statements are based on UEX’s current expectations, estimates, forecasts and projections. Such forward-looking information includes statements regarding UEX’s mineral resource and mineral reserve estimates, outlook for our future operations, plans and timing for exploration activities, and other expectations, intentions and plans that are not historical fact. The words “estimates”, “projects”, “expects”, “intends”, “believes”, “plans”, “will”, “may”, or their negatives or other comparable words and phrases are intended to identify forward-looking information. Such forward-looking information is based on certain factors and assumptions and is subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from UEX’s expectations include uncertainties relating to interpretation of drill results and geology, additional drilling results, continuity and grade of deposits, participation in joint ventures, reliance on other companies as operators, public acceptance of uranium as an energy source, fluctuations in uranium prices and currency exchange rates, changes in environmental and other laws affecting uranium exploration and mining, and other risks and uncertainties disclosed in UEX’s Annual Information Form and other filings with the applicable Canadian securities commissions on SEDAR. Many of these factors are beyond the control of UEX. Consequently, all forward-looking information contained in this news release is qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking information. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Image Available: http://www.marketwire.com/library/MwGo/2016/6/23/11G104164/Images/DRAFT_NR_2016_Summer_Drilling_-_Paul_Bay_3D_View_a-3cf6fa521ccdb1178b487af2c1d16bc4.jpg
Roger Lemaitre
President & CEO
(306) 713-1401
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A recent article by Seeking Alpha highlighted Galaxy Resources Limited (ASX:GXY) and their primary assets include the Mt Cattlin spodumene project in Western Australia, the Sal de Vida lithium brine project in Argentina and the James Bay spodumene exploration project in Quebec, Canada.
As quoted in the article:
Summary
- Sal de Vida is a very large, world class, low cost, lithium brine asset owned 100% by Galaxy.
- Valuation metrics are all very positive suggesting further upside is warranted despite stellar recent gains.
- The Sal de Vida updated DFS in July provides a strong short-term catalyst for the stock to be re-rated upwards.
Currently they have 3 lithium projects (100% owned) – Mt Cattlin Australia (spodumene producer), James Bay Canada (spodumene resource, DFS pending – late 2016), and Sal de Vida Argentina (brine resource, DFS update pending – July 2016).
In a resource estimate issued in March 2011, Mt Cattlin’s total contained lithium oxide (Li2O) resource was 197,000 tonnes, the measured and indicated resource was 13.8 million tonnes and total resource ore tonnes were 18.18 million. Tantallum is also produced. The current life potential of the Mt Cattlin mine is 18 years, including inferred resources.
In May 2016, Galaxy did a friendly off market takeover of General Mining offering GMM shareholders 1.65 Galaxy shares for each GMM share. The market viewed this favourably, I assume, as Galaxy will now have 100% share of future earnings, despite some equity dilution.
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The post Galaxy Resources: An Excellent Way To Invest Into The Lithium Miners appeared first on Investing News Network.
TORONTO, ONTARIO–(Marketwired – June 22, 2016) – Uranium Participation Corporation (“UPC” or the “Corporation”) (TSX:U) is pleased to announce that the nominees listed in the management information circular for the 2016 Annual General Meeting of Shareholders (“Annual Meeting“) were elected as directors of the Corporation. Detailed results of the vote for the election of directors held at the Annual Meeting yesterday in Toronto are set out below.
| Nominee | Votes For | % For | Votes Withheld | % Withheld | ||||
| Paul J. Bennett | 67,368,049 | 99.30 | 472,574 | 0.70 | ||||
| Thomas Hayslett | 67,553,673 | 99.58 | 286,950 | 0.42 | ||||
| Jeff Kennedy | 57,168,117 | 84.27 | 10,672,506 | 15.73 | ||||
| Garth MacRae | 59,652,336 | 87.93 | 8,188,287 | 12.07 | ||||
| Ganpat Mani | 67,304,095 | 99.21 | 536,528 | 0.79 | ||||
| Richard H. McCoy | 67,294,888 | 99.20 | 545,735 | 0.80 | ||||
| Dorothy Sanford | 67,679,833 | 99.76 | 160,790 | 0.24 |
UPC shareholders also approved the reappointment of PricewaterhouseCoopers LLP as auditor of the Corporation for the ensuing year at the remuneration to be fixed by directors.
About Uranium Participation Corporation
Uranium Participation Corporation is a company that invests substantially all of its assets in uranium oxide in concentrates (“U3O8“) and uranium hexafluoride (“UF6“) (collectively “uranium”), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on Uranium Participation Corporation’s website at www.uraniumparticipation.com.
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ABERDEEN, SCOTLAND–(Marketwired – Jun 23, 2016) – Ithaca Energy Inc. (TSX: IAE) (LSE: IAE)
TSX: IAE; LSE: IAE
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
Ithaca Energy Inc.
Annual General Meeting Voting Results
23 June 2016
Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) (“Ithaca” or the “Company”) announces the results of its 2016 Annual General Meeting of shareholders that was held on 22 June 2016 in Calgary, Alberta (the “Meeting”).
For information concerning each of the matters voted upon at the Meeting see the Company’s management Information Circular dated 20 May 2016 (the “Information Circular”), which is available under the Company’s profile on SEDAR (www.sedar.com).
A total of 196,254,867 common shares representing 47.71% of the Company’s issued and outstanding common shares were voted in connection with the Meeting. The voting results for each matter voted on by the Company’s shareholders at the Meeting is provided below:
1. Fixing the Number of Directors
The shareholders passed a resolution fixing the number of directors to be elected at the Meeting at seven.
2. Election of Directors
All of the nominees named in the Information Circular were elected as directors of the Company. The detailed results of voting are as follows:
| Nominee | Votes For | % |
| Brad Hurtubise | 183,538,686 | 96.69 |
| Les Thomas | 190,100,222 | 99.57 |
| Ron A. Brenneman | 185,134,587 | 96.97 |
| Jay M. Zammit | 180,602,082 | 95.14 |
| Alec Carstairs | 185,520,136 | 97.17 |
| Joseph Asaf Bartfeld | 187,461,423 | 98.76 |
| Yosef Abu | 189,683,708 | 99.93 |
3. Appointment of Auditors
The shareholders approved the appointment of PricewaterhouseCoopers LLP, Chartered Accountants (Aberdeen), as the auditors of the Company to hold office until the next annual meeting of shareholders of the Company at a remuneration to be fixed by the directors.
– ENDS –
| Enquiries: | ||
| Ithaca Energy | ||
| Graham Forbes | gforbes@ithacaenergy.com | +44 (0)1224 652 151 |
| Richard Smith | rsmith@ithacaenergy.com | +44 (0)1224 652 172 |
| FTI Consulting | ||
| Edward Westropp | edward.westropp@fticonsulting.com | +44 (0)207 269 7230 |
| Tom Hufton | tom.hufton@fticonsulting.com | +44 (0)203 727 1625 |
| Cenkos Securities | ||
| Neil McDonald | nmcdonald@cenkos.com | +44 (0)207 397 8900 |
| Nick Tulloch | ntulloch@cenkos.com | +44 (0)131 220 6939 |
| Beth McKiernan | bmckiernan@cenkos.com | +44 (0)131 220 9778 |
| RBC Capital Markets | ||
| Daniel Conti | daniel.conti@rbccm.com | +44 (0)207 653 4000 |
| Matthew Coakes | matthew.coakes@rbccm.com | +44 (0)207 653 4000 |
About Ithaca Energy
Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) is a North Sea oil and gas operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries and the exploitation of its existing UK producing asset portfolio. Ithaca’s strategy is centred on generating sustainable long term shareholder value by building a highly profitable 25kboe/d North Sea oil and gas company. For further information please consult the Company’s website www.ithacaenergy.com.
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
Contacts:
RNS
Customer
Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com
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At the recent Vancouver Commodities Forum, Chris Berry of House Mountain Partners and the Disruptive Discoveries Journal took some time to speak with the Investing News Network about the lithium market.
Berry spoke a number of topics, including:
Watch the video below for what he had to say:
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Interview Transcript
INN: So you’ve recently moderated a panel discussion at the Las Vegas lithium conference. What were your takeaways from the panel?
CB: Well, I thought it was interesting because, you know, it was an interesting panel. So you had industry pundits and you had several CEOs of lithium players that were at different points of the development curve, or the development stage. And so, the takeaways are, I think, number one; that everyone is sort of universally bullish, which could be a contrarian or dangerous sign. But I think from talking to these gentlemen and also the general consensus of the conference is that the demand story is real. Whether or not we just focus on electric vehicles or energy storage, those are the real drivers of demand going forward. But I think it’s an interesting case of whether or not supply will be able to keep pace with demand. It’s a very tight market right now and I think it will probably stay tight to 2020. That’s what I was thinking going into the conference and my thinking along that line was confirmed at the conference.
INN: Yes, a lot of people are bullish, but you also mentioned in your most recent note that there’s a lack of consensus on the price. What are your thoughts on where the price is headed for carbonate and hydroxide over the next 12 months?
CB: I think that one of the challenges with lithium, obviously, is that there’s no futures market, and so a lot of the price, whether we’re talking about carbonate or hydroxide, is really done on a handshake basis. There is spot activity in countries like China and that’s what has everybody excited right now. You’ve got carbonate prices that are twenty to twenty-five thousand dollars a ton, hydroxide prices that are reportedly higher than that. I don’t think that’s sustainable. I think that’s a speculation in the market to certain degree. How much of that? I’m not exactly sure, and to be honest with you, I don’t think anybody is. To answer your question specifically, I think you’ll probably see longer term carbonate prices around the $10,000 a ton mark and hydroxide prices perhaps slightly higher than that as well.
INN: Ok. And of course you’ve spoken a lot about how cost of production is more important than price, so how does that play into investors looking at earlier stage plays?
CB: Well, it makes it difficult because one of the things that I’ve said for a long time about lithium and you could say the same thing about graphite or some of these other niche metals, is that price is not the most important factor. And so when you’re trying to gauge the value of a company or the value of a deposit, looking at a carbonate price of six thousand or ten thousand or twenty thousand dollars a ton really isn’t what you should be focusing on. What you focus on is the potential cost of production. I know I sound like a broken record but lithium is an oligopoly so you have a few number of players or producers at the top and so you look at what their cost of production is, for example; SQM (NYSE:SQM) down in Chile or FMC (NYSE:FMC) in Argentina and then you go from there. And so any of these incumbent producers, despite the fact that the demand, I think, is very healthy going forward, any of the incumbent producers will need to meet or beat the existing producers, and that comes down to cost.
INN: Right, and you might not sound like a broken record because there is so much new interest and investment and money coming into the lithium sector right now. So what can investors look for to look for really long-term plays?
CB: Well, I think what you’re asking, Teresa, is really the difference between an investment and a trade, and to be honest with you, a lot of the money, a lot of the companies that have come into the space in the last two or three months are probably trades in the sense that we don’t know a lot about the deposit. Again, price is sort of a wild card, and we know nothing about the cost. So it’s kind of a ‘buyer beware’ thing. I personally think that there are a number of well run, legitimate companies in the space with market caps of say, at least a hundred million US, that are investments and are poised to add supply in the next five years. So those are particularly interesting to me.
INN: Ok, and what are the names of some of those companies?
CB: Well, one is obviously Lithium Americas (TSX:LAC), I’ve been focused on them for a long time. They’ve been able to really, I think, separate themselves from the pack with the joint venture with SQM they’ve just negotiated. So now they’ve got a great deposit. Again, it’s a well-run company, and not only that, they have the technical expertise from SQM as well. So that’s one that I think will perform very well over the next couple of years.
INN: Ok, thank you for joining me, Chris.
CB: Thank you.
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Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network.
The post Lithium Market Update With Chris Berry appeared first on Investing News Network.
Although there’s discussion mulling that uranium prices will double by 2018, uranium is still floundering as we near the halfway mark of this year. As of June 20, the uranium spot price dropped $1.85 from the previous week to $26.15.
In FocusEconomics‘ June report, panelists surveyed expect uranium prices to slowly increase throughout 2016 due to high nuclear demand from China, India and Russia. The expect prices for the metal to average $36 per pound in the last quarter of the year.
Still, despite the struggles the uranium market has faced, a number of uranium juniors have fared well year-to-date.
Here’s a look at a few companies that have seen impressive share price gains thus far in 2016.
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With the uranium industry seeing the struggles it has so far this year, CanAlaska Uranium has seen impressive gains of 636.36 percent, which is a $0.70 increase, to sit at $0.81. Over a one-year period, the company has seen gains of 326.32 percent.
CanAlaska is currently focused on undertaking uranium exploration in the Athabasca Basin and holds two key uranium properties: the West McArthur Project and the Cree East Project.
The most recent news from CanAlaska was Cameco‘s (TSX:CCO) plans for summer drilling at CanAlaska’s West McArthur project. Drilling is expected to start in mid-June.
Next is Mega Uranium, which has risen 114.29 percent year-to-date, or $0.08, to sit at $0.15. Over a one-year period, the company’s share price has rallied 66.67 percent overall.
Mega Uranium has three advanced uranium projects in Australia: Ben Lomond, Georgetown and Kintyre.
Despite the price increase, there hasn’t been much news from Mega Uranium as of late—the most recent news from the company came in March, when it announced results of its AGM.
Purepoint Uranium is a Canadian-based uranium exploration company with properties in Saskatchewan’s Athabasca Basin. The company owns a 21 percent interest in the Hook Lake project, which is 39.5 percent owned by Cameco and 39.5 percent owned by AREVA Resources Canada.
At the end of May, it was announced that the joint venture for the Hook Lake project had reallocated funds for continued drilling at the Spitfire zone for 2016.
Year-to-date, shares of Purepoint have jumped 128.57 percent to $0.80. Over a one-year period, the company has also seen significant success, having seen its shares rise 100 percent overall.
CanAlaska Uranium, Purepoint Uranium Group and Forum Uranium aren’t the only uranium juniors on the rise. Here’s a quick look at some other companies who have seen gains so far this year:
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
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After sharing six junior mining stocks on his watch list at this January’s Vancouver Resource Investment Conference, John Kaiser of Kaiser Research took some time to chat again at Zimtu Capital’s Vancouver Commodities Forum.
In terms of the overall market, Kaiser believes that while the market may not be out of the woods yet, it has definitely turned a corner. “I think there’s running room for this bull market,” he said.
Here are the five stocks Kaiser discussed:
Watch the full interview to see what he had to say:
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Interview Transcript
INN: Several market watchers are saying that we’ve entered a bull market, what are your thoughts on that?
JK: Well, when we last spoke, in the third week of January, that was the bottom of the five-year bear market that began in 2011, and so far we have seen an uptrend with a couple of pauses but no reversal yet. There’s a couple of things driving the uptrend, one is gold is in an uptrend. It hasn’t done the usual thing of rallying in the first quarter and fading away in the second quarter. And there’s reasons to believe gold can head higher, and it doesn’t have to do with the traditional reasons such as fiat currency debasement and hyperinflation. It has to do with geopolitical uncertainty. It has to do with fear of negative interest rates. So these types of drivers for gold are real price drivers, so people are thinking, ok this is not one of these nightmare scenarios where gold goes to $3,000 because of hyperinflation, which leaves my project worthless because all the costs go right up with it.
And there’s a discovery dimension to it. Companies are doing exploration again, they’re making new discoveries and those work at the metal prices that we have. So that’s attracting audiences back. So I think there’s running room for this bull market. We’re not out of the woods yet, but I think we definitely have turned the corner.
INN: Ok. In light of that, I understand you have several junior mining companies that you’re watching. One of them being Sirios Resources , can you tell us about that?
JK: Yes. Sirios was one of the five I flagged in January, bottom fish companies I had not really talked about. It was seven to ten cents at the time. Since then they’ve raised five and a half million dollars, they’ve finished their winter drill program, they’ve attracted a substantial audience. They’re now parked at forty cents, they have a 10,000-meter drill program coming up, starting in July. And this is a make or break, they’ve developed a very big geochemically enriched gold system. Now they need to find out where’s the enriched zones? They have Osisko Royalties (TSX:OR) as an investor, Goldcorp (TSX:G) as a 19 percent investor. This thing, I’m hoping, worst case, becomes mill feed for the Eleanore mine of Goldcorp. In the best case, becomes something even bigger and better, in which case this little junior could do another 500 percent from the current levels after doing 500 percent since January.
INN: And what about Arizona Mining?
JK: Arizona Mining, back in January they were 35 cents. They were two million dollars in the hole. Since then they’ve raised 14 million dollars, now have nine drill rigs on the project, have reported an initial resource estimate. Which in my mind is even feasible when zinc was at eighty, eighty-five cents. I think this is a world-class discovery, probably several hundred million tons, they only need 60 million tons. Now the question is; what’s the combined lead-zinc grade going to be, and the silver kicker that supports a 10,000 ton per day mine. The stock is $1.75 today, so already up substantially. The project’s so rich, it’s got such a big metal budget, that there’s all kinds of other things they could still discover like copper skarns and so on. And if they start doing that well then the stock could even go into the five to ten-dollar range within the next twelve months.
INN: Ok. And Peregrine Diamonds?
JK: Peregrine Diamonds has been one of my long-term, spec value, hunter picks. And incidentally, both Arizona Mining and Sirius were bottom fish which were upgraded to formal, spec value, hunter recommendations. Peregrine Diamonds has managed to climb from 10 cents at the start of the year to, it’s currently at 20 cents. They are going to be giving us a preliminary economic assessment for the Chidliak project which I think justifies a stock price in the 40 to 60 cent range. But that’s only based on my outcome visualization, we need to now wait for the 43-101 event to see what numbers the engineers have come up with. The market is waiting for that. The stock could move abruptly if the numbers are along the lines that I imagine.
And they’re also in Botswana revisiting an old kimberlite field that DeBeers found which DeBeers thought didn’t really have much substance to it. There’s a longshot there. If they find something substantial in Botswana, it’s a whole new story. Market’s a bit tired with Chidliak, it needs to go to the next level of becoming a mine, but if they get a discovery play going in Botswana you get the best of two worlds.
INN: Ok, interesting. And what about Scandium International Mining?
JK: Scandium International also has been a spec value hunter recommendation for the past three, four years. They delivered their definitive feasibility study, they filed an environmental impact statement, they’re in the process of working on the mining permit. And of course, their plan is to produce 35 to 40 tons of scandium oxide within about two years. This would be three, four times what the world currently produce from byproduct sources. The market is still skeptical that there is offtake that’s going to absorb this, but the market doesn’t understand that there’s such extraordinary latent demand for aluminum scandium alloy. I would expect the company to have more off takes in place, construction, financing done by the end of the year, mining permit in hand and then it’s off and running.
A similar company, Robert Friedland’s Clean TeQ (ASX:CLQ) in Australia has already achieved a 200-million-dollar valuation for a similar project and they hope to have their definitive feasibility study out by the end of June. And both projects need to go into production. It’s very different from the rare earth space where every company stabs the other one in the back. In this case, the end users want two independent supply sources of a material that is critical to their commercialization plans.
INN: Ok, and what about Uravan Minerals?
JK: Uravan Minerals is my current favorite discovery exploration stock. They have a geochemical method for spotting uranium deposits that are 800,000 meters deep in the Athabasca Basin. It involves radiogenic lead isotopes that decay products of daughters of uranium, literally liberated by microbes that deep chewing away on it and then them working their way to the surface and clinging to the clay. Case studies have shown similar anomalies on top of Centennial, Cigar Lake, McArthur River and now the rumor is that the Footprints project underway between Cameco (TSX:CCO) and a university syndicate also has demonstrated. They have a target, similar scale, on Outer Ring, 100 percent owned, a geophysical survey underway right now. If it lights up with a conductor, in this type of context, they will raise the one and a half million bucks needed. And if they hit something with only forty-five million shares outstanding, this is the kind of stock that can give you those double digit prices that retail investors absolutely love. Fifteen cents right now.
INN: And finally, John, do you own shares in any of these companies?
JK: I own shares in Peregrine, Scandium International and Uravan.
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Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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HOUSTON, TEXAS–(Marketwired – June 22, 2016) – News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) and Columbia Pipeline Group, Inc. (NYSE:CPGX) (Columbia) today announced that at a special meeting held earlier today in Houston, Texas, Columbia’s stockholders voted to adopt the previously announced merger agreement. Approximately 95.33% of votes cast by Columbia stockholders were in favour of adoption of the merger agreement, which will have TransCanada acquire Columbia for US$25.50 per share of common stock in cash, resulting in an aggregate purchase price of approximately US$13 billion, including the assumption of approximately US$2.8 billion of debt.
“We are very pleased with the support of Columbia’s stockholders. Today’s vote is an important milestone that moves us closer to completing this acquisition and creating one of North America’s leading natural gas transportation and storage companies,” said Russ Girling, TransCanada’s president and chief executive officer. “Columbia’s assets and development projects are managed by a dedicated employee base with experience and a commitment to operating safely, and we look forward to working with them.”
Columbia’s stockholder approval fulfills the final major closing condition for the proposed acquisition. In May 2016, TransCanada and Columbia announced other regulatory conditions necessary to close the deal had been satisfied: Specifically the early termination of the Hart-Scott-Rodino waiting period, and Committee on Foreign Investment in the US (CFIUS) clearance. TransCanada and Columbia anticipate that the closing of the transaction will be effective on July 1, 2016.
“This acquisition provides TransCanada with a unique opportunity to invest in a proven, growth focused company with a competitively positioned and growing network of regulated natural gas pipelines and storage assets in the Appalachian region, the fastest growing production basin in North America,” added Girling. “Together, we bring greater options for our customers to get their products to markets through one of North America’s largest natural gas transmission networks. Our combined $25 billion in near-term growth opportunities supports, and may augment, an expected eight to 10 per cent annual dividend growth rate for our shareholders through 2020.”
With more than 65 years’ experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 66,400 kilometres (41,300 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent’s leading provider of gas storage and related services with 368 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in over 10,500 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America’s leading liquids pipeline systems that extends over 4,300 kilometres (2,700 miles), connecting growing continental oil supplies to key markets and refineries. TransCanada’s common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media.
FORWARD LOOKING INFORMATION
This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management’s assessment of TransCanada’s and its subsidiaries’ future plans and financial outlook. All forward-looking statements reflect TransCanada’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to TransCanada’s First Quarter Report to Stockholders dated April 28, 2016 and 2015 Annual Report on our website at www.transcanada.com or filed under TransCanada’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.
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VANCOUVER, BC–(Marketwired – June 22, 2016) – Zadar Ventures Ltd. (the “Company”) (TSX VENTURE: ZAD) (FRANKFURT: ZAV) (OTCQB: ZADDF) is pleased to announce that has filed an Intent to Operate with the State of Nevada to carry out, on-the-ground exploration work consisting of detailed follow up gravity geophysical survey over the WSP Project as well as three (3) diamond drill test holes on both our WSP and CR claim groups in Clayton Valley. The Company has engaged Hasbrook Geophysics, Inc. of Prescott, Arizona to conduct the Gravity surveys.
Hasbrouck Geophysics, Inc. has a long history of working in Clayton Valley which gives the Zadar the benefit of their extensive knowledge and experience within this closed basin, lithium brine environment. Inc specific, Hasbrock Geophysics, Inc. has done the geophysical surveys work for Pure Energy in the Clayton Valley as well as many other lithium exploration companies.
About the WSP and CR Lithium Projects:
The WSP project is located immediately adjacent to the Rockwood/Albamarle claims in North Clayton Valley and covers approximately 425 hectares, including a gravity low anomaly interpreted to represent a basinal low permissive to host brines containing elevated concentrations of lithium. This project’s merit is supported by a USGS test hole (Drillhole CV-2) located ~600m from the eastern claim boundary that reported a 55ppm Li maximum content from analyzed water samples.
The CR project lies approximately 18 kilometres southeast of Silver Peak, Nevada and covers over 330 hectares of an isolated and un-drilled basin which has the potential to host a similar lithium brine environment by virtue of its proximal location to the possible source of the lithium within the Clayton Valley system. This later project has also been the subject of a suite of initial gravity surveys and shows a basinal feature, which if closed, could host brines with elevated lithium concentrations.
Zadar Ventures Ltd. is a Resource Company focused on the acquisition and exploration of economically viable green energy resources in jurisdictions favorable to mining and industry. For more information we invite you to visit the company’s website at www.zadarventures.com
The Company is looking forward to an active and accretive 2016.
ON BEHALF OF THE BOARD OF DIRECTORS
Paul D. Gray, P. Geo.
President
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company’s disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
ZADAR VENTURES LTD.
1100-888 Dunsmuir St
Vancouver, B.C. V6C 3K4
Phone: 604-682-1643
The post Zadar Commences Work on Northern Clayton Valley Lithium Project appeared first on Investing News Network.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 22, 2016) – Lithium Americas Corp. (the “Company” or “LAC”) (TSX:LAC)(OTCQX:LACDF) reports that on June 22, 2016 it will be filing an updated National Instrument 43-101 (“NI 43-101″) technical report dated May 31, 2016 on the Lithium Nevada project (formerly Kings Valley project) in Nevada, USA. (the “Report”).
Mineral Resource Estimate
In the Report, the authors confirm the mineral resource estimates on the Stage I Lens and Stage II Lens remain unchanged from the mineral resource estimates disclosed in prior technical reports and LAC’s recent continuous disclosure filings. A summary of the Mineral Resource Estimates is set forth in the table below.
Mineral Resource Statement for the Stage I Lens (effective May 31, 2016):
| Category | Lithium | Potassium | Sodium | ||||
| Quantity (000’s t) |
Li% | LCE Quantity (000’s t) |
K% | Quantity (000’s t) |
Na% | Quantity (000’s t) |
|
| Measured | 50,753 | 0.312 | 843 | 3.27 | 1,660 | 1.13 | 574 |
| Indicated | 164,046 | 0.285 | 2,489 | 3.07 | 5,036 | 1.04 | 1,706 |
| Inferred | 124,890 | 0.294 | 1,954 | 3.04 | 3,792 | 1.1 | 1,374 |
Notes:
Mineral Resource Statement for the Stage II Lens (effective May 15, 2010):
| Category | Lithium | Potassium | |||||
| Quantity (000’s t) |
Li% | LCE Quantity (000’s t) |
K% | Quantity (000’s t) |
Na% | F% | |
| Indicated | 95,000 | 0.27 | 1,365 | 3.66 | 3,477 | 1.55 | 0.57 |
| Inferred | 47,000 | 0.26 | 650 | 3.83 | 1,800 | 1.43 | 0.58 |
Notes:
The mineral resource estimates were prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines.
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
Further Details of the Report
In addition to presentation of the Mineral Resource Estimates, the authors of the Report also recommend that the Company proceed with updated development studies for the property, while acknowledging that the pre-feasibility study and mine plan for the project completed in March 2012 is no longer current and should not be relied upon.
The Report was prepared by independent “Qualified Persons” (as that term is defined in NI 43-101) Timothy J. Carew, P.Geo and Mario E. Rossi, FAusIMM. For further details about the mineral resource estimates, data verification measures used and other scientific and technical information about the Lithium Nevada Project, please refer to the Report which is available under LAC’s profile on SEDAR (www.sedar.com).
Dr. David Deak, Chief Technical Officer of LAC and President of Lithium Nevada Corp. commented, “We are committed to developing this very large Nevada clay-based lithium resource to provide the battery industry with a new supply source of lithium hydroxide. Our efforts in 2016 will be focused on establishing new design criteria for low cost commercial scale production of lithium hydroxide with a flow sheet and mine plan that sets new standards for environmental sustainable resource development. We will be advancing the engineering development work, and growing the technical team to build on the excellent foundation that has already been established.”
About the Company
The Company is developing the Cauchari-Olaroz lithium project, located in Jujuy province, Argentina, and the Lithium Nevada project (formerly Kings Valley project) in Nevada, USA, with the intent to become a major supplier of lithium products. In addition, Lithium Americas is a supplier of specialty drilling additives, Hectatone™ and other organoclay products for the oil and gas and other industries.
Scientific and technical information in this news release about the Lithium Nevada project has been approved by Timothy J. Carew, P.Geo and Mario E. Rossi, FAusIMM, qualified persons for purposes of NI 43-101.
Forward-looking statements
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the company’s periodic filings with Canadian securities regulators. When used in this document, the words such as “expect,” “believe,” “planned”, “scheduled,” “targeting” and similar expressions is forward-looking information. Information provided in this document is necessarily summarized and may not contain all available material information.
All such forward-looking information and statements are based on certain assumptions and analyses made by Lithium Americas management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in the Lithium America’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.
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PALO ALTO, CA–(Marketwired – Jun 21, 2016) – Tesla management will host a conference call and webcast at 4:30 a.m. PDT (7:30 a.m. EDT) on Wednesday, June 22, 2016, to discuss the rationale surrounding our offer to acquire SolarCity.
What: Tesla Offer to Acquire SolarCity Conference Call & Webcast
When: Wednesday, June 22, 2016
Time: 4:30 a.m. PDT / 7:30 a.m. EDT
Webcast: http://ir.tesla.com (live and replay)
Participant Dial-In: (877) 312-5519
International Dial-In: (760) 666-3771
Conference ID: 39269812
The webcast will be archived on the company’s website following the call.
The post Tesla Announces Call to Discuss Offer to Acquire SolarCity appeared first on Investing News Network.
CALGARY, AB–(Marketwired – June 21, 2016) –
(TSX: ECA)(NYSE: ECA)
Encana Corporation announced today that it has reached an agreement to sell its Gordondale assets in northwestern Alberta to Birchcliff Energy Ltd. (TSX: BIR) for a total cash consideration of C$625 million.
The sale includes approximately 54,200 net acres of land and associated infrastructure. In addition, through the transfer of current and future obligations, Encana is reducing midstream and downstream commitments by more than C$100 million on an undiscounted basis. No drilling or completions capital has been spent or was planned for the area in 2016.
As highlighted at Encana’s recent Montney Investor Day in May 2016, the company has a large inventory of high-quality potential drilling locations in the play. Following this sale, Encana’s Montney play will comprise of over 9,000 potential drilling locations with two-thirds of those wells located in the condensate-rich part of the play.
“We are tightening our portfolio and sharpening our focus in the Montney where we expect to grow liquids production to 50,000 barrels per day by the end of 2018,” said Doug Suttles, Encana President & CEO. “This transaction further strengthens our balance sheet and gives us greater financial flexibility as we look to the future.”
Encana’s Gordondale assets produced an average of 25,200 barrels of oil equivalent (BOE) per day on a net after-royalty basis during the first quarter of 2016, comprising 65 percent natural gas and 35 percent liquids. Based on Encana’s development plan at year-end 2015, estimated proved reserves were approximately 50 million barrels of oil equivalent (MMBOE) on a net after-royalty basis.
The sale of Encana’s Gordondale assets is subject to the satisfaction of normal closing conditions, as well as regulatory approvals and post-closing adjustments. The transaction is expected to close in the summer of 2016 with an effective date of January 1, 2016.
RBC Capital Markets advised Encana on the transaction.
Encana Corporation
Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs). By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates. Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.
ADVISORY REGARDING OIL AND GAS INFORMATION – Reserves are the estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, from a given date forward, based on: analysis of drilling, geological, geophysical and engineering data, the use of established technology, and specified economic conditions, which are generally accepted as being reasonable. Proved reserves are those reserves which can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.
The conversion of natural gas volumes to BOE is on the basis of six thousand cubic feet to one barrel. BOE is based on a generic energy equivalency conversion method primarily applicable at the burner tip and does not represent economic value equivalency at the wellhead. Readers are cautioned that BOE may be misleading, particularly if used in isolation.
This news release discloses potential drilling locations, which include proved, probable, contingent and unbooked locations. These estimates are prepared internally based on Encana’s prospective acreage and an assumption as to the number of wells that can be drilled per section based on industry practice and internal review. Approximately 20 percent of these locations were booked as either reserves or resources, as prepared by independent qualified reserves evaluators using forecast prices and costs as of December 31, 2015. Unbooked locations do not have attributed reserves or resources and have been identified by management as an estimation of Encana’s multi-year drilling activities based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that Encana will drill all unbooked locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves, resources or production. The locations on which Encana will actually drill wells, including the number and timing thereof is ultimately dependent upon the availability of capital, regulatory and partner approvals, seasonal restrictions, equipment and personnel, oil and natural gas prices, costs, actual drilling results, additional reservoir information that is obtained, production rate recovery, transportation constraints and other factors. While certain of the unbooked locations have been de-risked by drilling existing wells in relative close proximity to such locations, many of other unbooked locations are farther away from existing wells where management has less information about the characteristics of the reservoir and therefore there is more uncertainty whether wells will be drilled in such locations and if drilled there is more uncertainty that such wells will result in additional proved or probable reserves, resources or production.
ADVISORY REGARDING FORWARD-LOOKING STATEMENTS – This news release contains certain forward-looking statements or information (collectively, “forward-looking statements” or “FLS”) within the meaning of applicable securities legislation. FLS include, but are not limited to: expected proceeds from the sale of the Gordondale assets, the use of proceeds therefrom, the expectation that the closing conditions and regulatory approvals will be satisfied and the timing of closing thereof; expected reduction in midstream and downstream commitments; potential drilling locations, including quantity, quality and commodity composition; growth of liquids production in the Montney and timeframe thereof; and impact of the transaction to strengthen the balance sheet and provide greater financial flexibility.
Readers are cautioned against unduly relying on FLS which, by their nature, involve numerous assumptions, risks and uncertainties that may cause such statements not to occur, or for results to differ materially from those expressed or implied. These assumptions include: enforceability of the agreement; the ability of the parties to satisfy closing conditions and regulatory approvals; the value of adjustments to the expected proceeds from the transaction; assumptions contained in Encana’s 2016 corporate guidance and in this news release; data contained in key modeling statistics; effectiveness of Encana’s resource play hub model to drive productivity and efficiencies; and expectations and projections made in light of, and generally consistent with, Encana’s historical experience and its perception of historical trends, including with respect to the pace of technological development, the benefits achieved and general industry expectations.
Risks and uncertainties that may affect these business outcomes include: risks inherent to closing the transaction including whether it will close on a timely basis or at all; adjustments that may reduce the expected proceeds to Encana; commodity price volatility; counterparty and credit risk; imprecision of reserves estimates and estimates of recoverable quantities of natural gas and liquids from resource plays and other sources not currently classified as proved, probable or possible reserves or economic contingent resources, including future net revenue estimates; risks associated with past and future divestitures of certain assets or other transactions or receive amounts contemplated under the transaction agreements (such transactions may include third-party capital investments, farm-outs or partnerships, which Encana may refer to from time to time as “partnerships” or “joint ventures” and the funds received in respect thereof which Encana may refer to from time to time as “proceeds”, “deferred purchase price” and/or “carry capital”, regardless of the legal form) as a result of various conditions not being met; and other risks and uncertainties impacting Encana’s business, as described in its most recent MD&A, financial statements, Annual Information Form and Form 40-F, as filed on SEDAR and EDGAR.
Although Encana believes the expectations represented by such FLS are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions, risks and uncertainties referenced above are not exhaustive. FLS are made as of the date of this news release and, except as required by law, Encana undertakes no obligation to update publicly or revise any FLS. The FLS contained in this news release are expressly qualified by these cautionary statements.
SOURCE: Encana Corporation
Further information on Encana Corporation is available on the company’s website, www.encana.com, or by contacting:
Investor Contact:
Brendan McCracken
Vice-President, Investor Relations
(403) 645-2978
Patti Posadowski
Sr. Advisor, Investor Relations
(403) 645-2252
Media Contact:
Simon Scott
Vice-President, Communications
(403) 645-2526
Jay Averill
Director, Media Relations
(403) 645-4747
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VANCOUVER, June 22, 2016 /CNW/ – American Lithium Corp. (TSXV: Li) (OTCQB: LiACF) (Frankfurt: 5LA; WKN: A2AHEL) (“American Lithium” or the “Company”), is pleased to announce that upon completion of its initial site reconnaissance, the Company has issued notice to proceed to its geological subcontractors to mobilize its fully funded, Phase 2 Exploration and Development Program for both deep and shallow drill and auger programs in the North and South Bowl playas. The playas comprise the Company’s contiguous 18,552 acre Fish Lake Valley lithium brine portfolio located in Esmeralda County, Nevada.
Under the direction of Dana Brock, P.E., R.G., C.E.G., Vice President, Geosciences and Engineering, American Lithium is planning a Phase 2 Exploration Program of up to thirteen (13) drill sites to a maximum of 150 m in depth to complete the previous 200 m grid sampling program in the Company’s North Bowl Playa shallow prospect conducted from 2009 to 2015 (see the Company’s news release dated June 1, 2016). The thirteen (13) drill sites have been selected at specific locations in the Fish Lake Valley North Bowl Playa, based on previously collected surface screening data, detailed structural geology and nearby local mineralization. Each site will be explored by direct push method to refusal, which is typically 60 m or less. Brine samples will be collected for inductively coupled plasma-atomic emission spectrometry (“ICP-AES”) analyses. American Lithium will be establishing its sampling and analytical protocols. The direct push sampling results will then be combined with previously collected screening data and 41 drill holes historically drilled at Fish Lake Valley, and incorporated in the Company’s detailed structural model and hydro geologic information. Reverse circulation drilling will then be conducted on selected sites to depths of up to 150 m to evaluate stratigraphy, collect brine samples for ICP-AES and general chemistry analyses and determine preliminary well hydrology parameters such as permeability and transmissivity.
American Lithium’s geological team also plans to conduct a brine auger sampling program to test for the presence of lithium brine in the shallow soil system of the South Bowl Playa. Sampling will be carried out utilizing 500 m grid spacing to a maximum depth of one meter below surface. Brine samples will undergo ICP-AES analyses for metals and classification of accumulated levels of lithium, boron, potassium and magnesium.
American Lithium’s team has conducted further geophysical surveys on both the North and South Bowl playas, and is updating the Company’s proprietary gravity model for its entire 18,552 acre lithium brine portfolio in Fish Lake Valley, Nevada.
Mike Kobler, CEO of American Lithium, commented “We are thrilled to be launching one of the most comprehensive drill campaigns inNevada’s recent lithium development which, when combined with extensive historic drilling and technical work carried out in Fish Lake Valley from 2009 to 2015, is expected to support our believe in the potential resource of the Company’s Fish Lake Valley lithium brine assets. We are confident that Fish Lake Valley will become one of the largest lithium brine basins in Nevada.”
Fish Lake Valley Lithium Brine Basin
Fish Lake Valley is a large Nevada basin where the geological and geophysical characteristics have been determined to be strongly analogous to the structural and geological settings at Albemarle’s Silver Peak lithium brine operation at Clayton Valley, 38 kilometres to the southeast. Between 2009 and 2015, drilling and other exploratory work was conducted on the Fish Lake Valley North Bowl Playa property including work in 2011 that identified an area at the north end of the northernmost playa approximately 2 kms wide by 3.2 kms long, where lithium, boron and potassium were tested in elevated levels. This anomalous area encapsulates a more enriched zone which measures approximately 1.4 kms by 1.62 kms. Within this enriched zone lithium-in-brine values ranged from 100 to 150 mg/L, with boron ranging from 1,500 to 2,670 mg/L, and potassium from 5,400 to 8,400 mg/L. The average content of the brine samples taken within this central anomalous zone is: lithium 122.5 mg/L, boron 2,219 mg/L, and potassium 7,030 mg/L.
Michael Collins, P.Geo. is the Company’s designated Qualified Person within the meaning of National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.
ABOUT American Lithium Corp.
American Lithium Corp. is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. American Lithium holds options to acquire Nevada lithium brine claims totaling 20,790 acres (8,413 hectares), including 18,552 acres (7,508 hectares) in Fish Lake Valley, Esmeralda County, and the 2,240 acre (907 hectare) San Emidio Project in Washoe County. The Company’s Fish Lake Valley lithium brine properties are located approximately 38 kilometers from Albemarle’s Silver Peak, the largest lithium operation in the U.S., approximately 3.5 hours from the Tesla Gigafactory. American Lithium is listed on the TSXV under the trading symbol “Li“. For further information, please visit the Company’s website at www.americanlithiumcorp.com.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this document is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by American Lithium management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in American Lithium’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.
SOURCE American Lithium Corp 
For further information: contact Michael Kobler at info@americanlithiumcorp.com
RELATED LINKS
www.americanlithiumcorp.com
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CALGARY, ALBERTA–(Marketwired – June 22, 2016) – Mkango Resources Ltd. (TSX VENTURE:MKA)(AIM:MKA) (the “Corporation” or “Mkango“), is pleased to announce that it is in the process of acquiring from the Malawi Geological Survey new airborne geophysical data covering the majority of its Phalombe and Thambani exclusive prospecting licences in Malawi.
The nationwide airborne geophysical survey was part of a US$25 million World Bank funded project. The airborne geophysical component of the project comprised the following:
On 15th June 2016, Hon Bright Msaka SC, Malawi’s Minister for Natural Resources, Energy and Mining launched the five-year Geological Mapping and Mineral Assessment Project (GEMMAP) in Lilongwe, which encompasses ground truthing of the aforementioned airborne geophysical survey.
The Government of France is supporting the project, which aims to acquire geo-scientific and mineral occurrence data to be used to promote and maximise the mining sector’s contribution to the country’s socio-economic development.
Malawi was last mapped in the 1950s and 1960s using aerial photography with very limited follow up ground work. GEMMAP will be implemented by a consortium of the Malawian Geological Survey, French Geological Survey (BRGM), Council for Geosciences of South Africa and the Geological Survey of Finland (GTK).
Alexander Lemon, President of Mkango, stated:
“We believe GEMMAP will significantly enhance Malawi’s credentials as an investment destination for exploration and mining and we look forward to spearheading development of the sector, working closely with the Government of Malawi. Auspiciously, GEMMAP was launched on the same day as Mkango’s very successful listing on AIM.”
Furthermore, we are excited to be acquiring the new airborne geophysical data covering the majority of the Phalombe and Thambani licences in Malawi, which have excellent potential for rare earths and uranium, respectively. We look forward to providing the market with further updates.”
About Mkango Resources Ltd.
Mkango’s primary business is the exploration for rare earth elements and associated minerals in the Republic of Malawi, a country whose hospitable people have earned it a reputation as “the warm heart of Africa”. Mkango holds, through its wholly owned subsidiary Lancaster Exploration Limited, a 100% interest in two exclusive prospecting licenses in southern Malawi.
The main exploration target in the Phalombe licence is the Songwe Hill rare earth deposit, which features carbonatite hosted rare earth mineralisation and was subject to previous exploration in the late 1980s and for which Mkango completed an updated Pre-feasibility study in November 2015.
The main exploration target in the Thambani licence is a uranium, niobium and tantalum prospect. In January 2015, Mkango announced the first set of assay results of 142 soil and rock chip samples from 9 trenches, which returned variably anomalous uranium, niobium and tantalum values in most trenches, ranging up to 4.70 % U3O8, 3.25 % Nb2O5 in soil and up to 0.42 % U3O8, 0.78 % Nb2O5 and 972 ppm Ta2O5 in rock chips.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, delays in obtaining financing or governmental or stock exchange approvals. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Corporation undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Corporation in the United States. The securities of the Corporation will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
SP Angel Corporate Finance LLP
Nominated Adviser and Broker
Jeff Keating
UK: +44 20 3470 0470
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This Tuesday, Nevada Sunrise Gold (TSXV:NEV) reported that top lithium producer Albemarle (NYSE:ALB) is protesting key changes being requested for the company’s water right in Nevada’s Clayton Valley.
Nevada Sunrise is focused on advancing a number of lithium brine exploration projects in Nevada. The company has applied to transfer the Place of Use and Point of Diversion for its water rights.
Albemarle’s complaint argued that the company’s application is “vague” and does not give enough information about how the brine will be developed. It also raised concerns about the reinjection of spent geothermal fluids back into the brine, stating that it could damage the entire brine ore body, causing Albemarle to lose efficiency.
Albemarle subsidiary Rockwood Lithium operates the Silver Peak mine in Nevada, the only producing lithium brine operation in the United States. The company pointed out in its complaint that it is the largest employer in Nevada’s Esmerelda County.
“It would appear that Albemarle Corp. does not wish to allow future competition for lithium brine production in the Clayton Valley basin,” said Warren Stanyer, president and CEO of Nevada Sunrise, in a statement. “Albemarle is the largest consumer of groundwater in the Clayton Valley, and our existing Permit, senior to many of Albemarle’s own permits, is the only remaining appropriation of groundwater in the Clayton Valley that is potentially available for a lithium brine extraction operation.”
Certainly, this is an interesting situation to watch for investors looking at junior lithium companies setting up shop in the Clayton Valley. Nevada Sunrise intends to respond to Albemarle’s complaint in due course.
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Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Nevada Sunrise Gold is a client of the Investing News Network. This article is not paid for content.
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As many lithium investors are no doubt aware, more and more market participants keep jumping on the lithium train. One of the biggest players to do so has been Goldman Sachs (NYSE:GS) which came out with a note entitled “Lithium Is the New Gasoline” last December. The note was part of the firm’s “What if I Told You?” series, which looked at “emerging trends poised to fundamentally change how we live and work.”
Of course, there is plenty of excitement over lithium, but there are also risks, and plenty of analysts and executives have counseled caution for those new to the lithium sector. Still, it’s worth being informed as to what Goldman has to say about the energy commodity.
In this video, Bob Koort, head of Industrials and Materials research at Goldman Sachs, explains a few of the main points behind the firm’s thesis. Koort believes that lithium will be key to the electric vehicle revolution:
This video was originally posted on the Goldman Sachs website. Check out the link to see the video there and to read the firm’s note on lithium.
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VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 20, 2016) – GoviEx Uranium Inc. (CSE:GXU) announced that, pursuant to its Stock Option Plan, it has granted incentive stock options to certain directors, officers, employees and consultants to purchase up to an aggregate of 10,535,000 common shares in the capital stock of the company.
The options are exercisable at a price of $0.12 per share and will vest 25% on the date of grant, with an additional 25% vesting on each anniversary of the date of grant thereafter until fully vested. The options expire on June 20, 2021.
About GoviEx Uranium Inc.
GoviEx is a mineral resource company focused on the exploration and development of its African uranium properties. GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its Mine Permitted Madaouela Project in Niger and its Mine Permitted Mutanga Project in Zambia and Falea Project in Mali.
Visit GoviEx’s website at www.goviex.com.
GoviEx Uranium Inc.
Bill Trenaman
Investor Relations
+1 604 331-9882
info@goviex.com
www.goviex.com
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DIDSBURY, AB–(Marketwired – Jun 21, 2016) – XFuels, Inc. (OTC PINK: XFLS) has engaged RedChip Companies (“RedChip”) to lead its investor relations efforts.
Michael McLaren, CEO of XFuels, stated, “RedChip has a demonstrated track record of improving valuations and expanding the shareholder bases of emerging technology companies like ours. With RedChip’s help, we’re confident our visibility in the retail and institutional investor communities will improve immensely in the months and quarters ahead.”
RedChip is a world leader in investor relations, financial media, and research for microcap, small-cap, and mid-cap stocks. Founded in 1992, and headquartered in Orlando, Florida, with affiliates in New York, Pittsburgh, Paris, and Seoul, RedChip has helped hundreds of companies achieve their capital markets goals and has been ranked by Inc. Magazine as one of the fastest growing privately held investor relations firms in the U.S. RedChip’s robust platform includes a weekly television show, “The RedChip Money Report,” which reaches more than 160 million households in Australia, Europe, Asia, and Latin America (http://www.redchip.com/tv).
About XFuels, Inc.
XFuels The Clean Petroleum & Power Company is a publicly held energy company based in Portland, Oregon USA, established to design, build, and operate regionally-integrated, small-to-midcap electricity and petroleum production facilities. XFuels is a leader in carbon-neutral energy solutions, as well as providing water and food technologies specifically designed to improve the quality of life on our planet.
The company’s (patented and patent-pending) IP delivers one of the highest energy yields (electricity at sub-5 cents per kWh, and diesel fuel profitable at $25 a barrel oil without government subsidies), from a broad range of carbon-bearing inputs (forestry, agricultural, and urban waste including municipal solid waste and plastics), with one of the lowest capital expenditures of any known energy production method. One of XFuels technologies literally converts garbage to gas.
XFuels offers a range of low cost attractive modular systems via its hydrocarbon bio refinery platform (the XRefinery), which produce low cost electricity and advanced petroleum-equivalent fuels and chemicals in partnership with select small to mid-size industrial energy users (info@xfuels.com) in target markets.
XFuels Clean Petroleum chemicals and fuels have the same molecular composition as traditional petroleum, offer premium performance with NEAR-ZERO environmental footprint, and with easy integration to full market penetration in today’s existing petroleum vehicle fleet and distribution infrastructure.
For more information on Xfuels Inc. please see www.xfuels.com
Safe Harbor:
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Xfuels Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Xfuels Inc.’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Xfuels Inc.’s filings with the Securities and Exchange Commission.
Bruce Haase
RedChip Companies
Tel: +1 407-644-4256
bruce@redchip.com
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NexGen Energy (TSXV:NXE) has announced assay results for eight angled holes from its winter 2016 drilling program on is 100 percent owned Rook I property in the Athabasca Basin.
As quoted in the press release:
Assay results from the higher grade A2 Sub-Zone (“Sub-Zone”) have yet again confirmed strong uranium grades over significant intervals at the Arrow Deposit. Hole AR-16-78c4 which was drilled 59 m up-dip and northeast of hole AR-15-44b has returned 37.5 m at 17.60% U3O8 including 5.5 m at 60.14% U3O8 and 1.5 m at 71.93% U3O8. This intersection represents a continuous grade x thickness (“GT”) of 660, the fourth highest at Arrow. Within the A2 shear drill hole AR-16-78c4 returned a total composite GT of 834.
Additionally, drill hole AR-16-76c4 returned 68.0 m at 2.09%U3O8 including 14.5 m at 5.08% U3O8 and an additional section of 32.0 m at 1.97% U3O8 including 10.0 m at 5.15%U3O8. Of key importance, high grade mineralization encountered in both holes waslargely intersected outside the current limits of the A2 High Grade Domain (see Figure 1). Assay results for23 holes at Arrow remain pending.
Click here to read the full press release.
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Wellgreen Platinum TSX:WG) has announced it intends to issue 1,776,500 common shares in the capital of the company at $0.30 per share, which is the five-day volume weighted average price of the shares by way of non-brokered private placement for total gross proceeds of $533,000.
As quoted in the press release:
The Shares are being purchased by the Directors of Wellgreen Platinum, including the Company’s new President and Chief Executive Officer, Diane R. Garrett, as well as by Gil Leathley, who was appointed as a Board observer by Electrum Strategic Opportunities Fund L.P. (“Electrum”) pursuant to the terms of a unit purchase agreement between the Company and Electrum dated March 9, 2016.
Ms. Garrett commented, “On behalf of the Board of Directors, we are very pleased to demonstrate our support for the Company by participating in this Private Placement. The recent appointment of three new Board members has added additional technical strength and expertise to our Board. Coupled with the recent cornerstone investment completed by Electrum, which included participation by Resource Capital Fund, the Company is well-positioned to move the Wellgreen project forward and create value for our shareholders. I am excited to have joined the Company at this stage in its development, and am very pleased to be part of a Board that is invested in the Company”.
The Private Placement is subject to, among other things, receipt of all applicable regulatory approvals, including approval of the Toronto Stock Exchange (“TSX”). All Shares issued in the Private Placement will be subject to a statutory four month hold period.
Click here to read the full press release.
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KELOWNA, BRITISH COLUMBIA–(Marketwired – June 21, 2016) – Fission 3.0 Corp. (TSX VENTURE:FUU) (“Fission 3“) is pleased to announce preliminary drill results from the first six holes at its Macusani property in Southeastern Peru, including MAC16-003, which intersected 0.50m of mineralization with a peak of 3,100 cps within approximately 1.5m from surface. Four of the six holes intersected mineralization within approximately 15m from surface, all of which were located on the Llama South prospect at Macusani, where surface outcrops returned anomalies up to 2.5% Uranium. The initial drill operation permits expired on June 15 and thus the program is temporarily suspended and expected to resume late August, 2016, pending an expected permit extension.
Results Highlights
Ross McElroy, President, COO, and Chief Geologist for Fission, commented
“These early results are highly encouraging. We’ve hit mineralization in four of our first six holes and at a very shallow depth, with anomalous radioactivity of up to 3,100 cps. Considering the Llama South target is on trend with two nearby uranium deposits with recent resource estimates – Plateau Uranium’s Corachapi Complex and Corani Complex – this first pass drilling at Macusani further demonstrates the potential of this area and is an excellent start to our exploration program.”
Table 1: Llama South Prospect
| Collar | Hand Scintilometer Radioactivity (>300 Cps) | Total | |||||||
| Hole ID | Target | Az | Dip | From (m) |
To (m) |
Width (m) |
CPS Average |
CPS Peak |
Drillhole Depth (m) |
| MAC16-001 | Llama South | 0 | -90 | No anomalous radioactivity | 56.3 | ||||
| MAC16-002 | Llama South | 305 | -65 | No anomalous radioactivity | 56.0 | ||||
| MAC16-003 | Llama South | 305 | -55 | 1.5 | 2.0 | 0.5 | 2100 | 3100 | 55.2 |
| MAC16-004 | Llama South | 225 | -65 | 15.0 | 15.5 | 0.5 | 630 | 39.4 | |
| MAC16-005 | Llama South | 225 | -55 | 2.0 | 5.5 | 3.5 | 700 | 920 | 71.9 |
| 6.0 | 6.5 | 0.5 | 1620 | ||||||
| MAC16-006 | Llama South | 305 | -75 | 13.0 | 15.0 | 2.0 | 440 | 520 | 52.1 |
Natural gamma radiation in drill core as stated in this news release is recorded in the field, measured in counts per second (cps) using a hand held GR-130G Scintillometer manufactured by Radiation Solutions. 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. The degree of radioactivity within the mineralized intervals can be highly variable. All intersections are down-hole. All depths reported of core interval measurements including radioactivity and mineralization intervals widths are not necessarily representative of true thickness and true thicknesses are yet to be determined.
Samples from the drill core will be split in half sections on site. Where possible, samples will be standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to Bureau Veritas Commodities Canada Ltd in Lima Peru for preparation and the pulps will be sent onwards to their lab (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Vancouver, BC for analysis which includes U3O8 (wt %) and U ppm, while the other half remains on site for reference. All analysis includes a 40 element ICP‐ES & ICP‐MS, including gold, silver and all REE’s. Uranium analysis will be by ICP-MS and lithium by ICP-ES.
The Macusani Project
The Macusani property is located within southeastern Peru. Fission 3.0 Corp. holds the rights to 9 claim blocks encompassing 51 km². The district is mining-friendly, has a mild climate and has solid infrastructure, including all-weather roads and low-cost power.
Within the area, the stratigraphy is dominated by the sub-horizontal Pliocene Quenamari Formation, which is mainly composed of ignimbrite layers. Uranium anomalies occur on plateaus that are composed of the Upper Yapamayo Member of the Quenamari Formation. Sampling to date has shown that the most significant uranium anomalies appear to be restricted to this assemblage. Mineralization within the area is dominated by very high grade Autinite veins along ‘enriched fault planes’, with lesser disseminated mineralization. The significant fault planes can vary from up to 2 m thick, while multiple enriched fault planes occur in shear zones up to 150 m across.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”
ON BEHALF OF THE BOARD
Ross McElroy, COO
Fission 3.0 Corp.
Cautionary Statement: Fission 3.0 Corp.
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward-looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. 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 our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3.0 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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Cypress Development Corp. (TSXV:CYP) (OTCBB: CYDVF) (Frankfurt: C1Z1) announced that the Company has received a Land Use Permit from the Bureau of Land Management, Nevada, that will enable Cypress to proceed with its planned Phase 3 drilling program at the Company’s Clayton Valley Lithium Project located in Esmeralda County, State of Nevada, USA.
As quoted in the press release:
Drill targets have been selected to test both the claystone hosted lithium mineralization discovered over wide areas at surface as well as deeper drilling to intersect the lithium brine within the Main Ash Aquifer in a position adjacent to the known Northern Resource Area of Pure Energy Minerals (see Pure Energy’s news release July 28, 2015). The Company expects to begin its Phase 3 drilling program at its Clayton Valley Project by July 15, 2016.
Cypress will initially target the surface claystones with a program that will feature shallow holes targeting the 2 kilometer strike length zone of surface lithium mineralization recently discovered during the Company’s 2016 Phase 1 and Phase 2 sampling programs. This shallow drilling should allow Cypress to begin to estimate size, lithium grade and tonnage at its Clayton Valley Project.
One of the keys to Cypress’ success and growth is the potential to extract lithium directly from the large zone of soft claystones using a very dilute acid leach method which could be vastly more cost effective and less energy intensive than hard rock extraction. This potential extraction method, which Cypress has successfully lab tested, is not only much more cost effective but much more environmentally friendly as well, while still producing exceptional lithium recovery rates averaging 95%.
Cypress is also in the process of completing a financing of a private placement of shares at this time. The terms of the private placement are a 12 cent share with a one year 15 cent warrant attached (see News Release June 3rd). Cypress will use the funds raised to auger drill and RC drill the identified lithium rich claystones discovered in 2016 at surface and to explore for the underlying lithium brines at its Clayton Valley Project in Nevada.
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Kivalliq Energy Corporation (TSXV:KIV) announced plans for summer exploration at the Company’s Angilak Property in Nunavut Territory and a non-brokered private placement financing to raise gross proceeds of CDN$400,000, to fund mineral exploration at Kivalliq’s wholly-owned properties in Canada.
As quoted in the press release:
A $500,000 summer exploration program is planned at the Angilak Property in Nunavut Territory. The 2016 program will begin in early July by mobilizing staff and supplies to the existing Nutaaq camp. Kivalliq plans to carry out trenching, geological mapping, sampling and geochemical surveying at the Yat target, in addition to geochemical surveying along geophysical conductors in the vicinity of the Dipole uranium discovery.
The Yat occurrence is located 16 km southwest of the Lac 50 uranium resource and 10 km northeast of the new Dipole discovery, near the northern margin of the Angikuni Basin. Kivalliq staff visited the area in 2015 to investigate high-grade polymetallic mineralization and visible gold (VG) periodically noted during previous Kivalliq prospecting programs. One of three boulder grab samples collected in 2015 returned the highest precious metal assays ever reported from the Angilak Property: 211 g/t Au, 80,900 g/t Ag, 1.82% U3O8, 6.8% Cu, 3.1 g/t Pt and 6.7 g/t Pd. A grab sample in 2007 returned31.9 g/t Au, 1170 g/t Ag, 1.18% Cu and 0.25% U3O8 from historic trenches. Follow-up samples in 2010 confirmed these results with 12.90 g/t Au, 1140 g/t Ag and 1.44% U3O8.
Kivalliq also today announced a non-brokered private placement financing to raise gross proceeds of CDN$400,000, to fund mineral exploration at Kivalliq’s wholly-owned Angilak and Hatchet Lake Properties in Canada. Kivalliq intends to raise the funds by issuing up to 4,000,000 units (“Units”), at the price of CDN$0.10 per Unit (the “Offering”).
Connect with Kivalliq Energy Corporation (TSXV:KIV) to receive an Investor Presentation.
The post Kivalliq Energy Announces Summer Program at Yat High-Grade Precious Metals Occurrence and $400,000 Financing appeared first on Investing News Network.
It’s no secret that there’s a lot of excitement around lithium these days. However, a number of analysts and market watchers have cautioned investors to be careful when wading into the space.
For example, at this year’s Lithium Supply and Markets Conference Orocobre (TSX:ORL,ASX:ORE) Chairman James Callaway shared his worries about a potentially significant misallocation of resources in the lithium sector. Plenty of companies are jumping into lithium at the moment, but few have teams who understand the complicated chemical processes needed to extract lithium and produce lithium products, or who know how difficult setting up a plant can be.
The Investing News Network (INN) reached out to Callaway to get more of his thoughts on the matter.
Callaway stressed that he isn’t trying to be discouraging. In fact, he believes it’s important that smart management teams get on with developing smart projects, and he’s optimistic that this will happen given the current price environment.
His concern, however, is the sheer volume of new lithium companies and lithium projects being announced, with financial promoters adding to the hype.
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“My main concern is that I’m seeing a whole lot of people really don’t know anything about lithium, who have never studied lithium jumping in and grabbing anything that says lithium sticking it on their name and being re-rated,” he explained.
Certainly, with lithium prices on the rise and other metals only now starting to come back from a prolonged price rout, switching to lithium has been a bit of a trend. Also, on top of existing junior exploration and mining companies switching focus, there are also plenty of new companies joining the fray.
This has happened once before in the lithium industry, and it didn’t end well for investors. Without naming names, Callaway said that he sees some of the same players coming back to the lithium sector.
“I would say that there is a substantial number of people that are showing up again—people that were in the first line of promoters—who are now reemerging with their next great project, and who don’t really have much of an intent to do anything about it,” he said. “They’re just trying to find a path to flip their deal.”
Understandably, that’s troubling for both lithium companies and investors that are in it for the long haul. Hype or not, battery demand is rising and additional lithium supply is needed.
“It is not in the interest of this industry to have poorly conceived ideas with people without any kind of experience raising money on the back of the word lithium,” Callaway said,” and I think it’s important for the investing community to be very, very discriminating about what projects they put their money into.”
Put simply, it takes much more to bring a lithium project into production than one might think. Despite all of the excitement, the lithium sector is still quite small relative to the markets for other commodities such as copper or iron, so there’s a much smaller pool of lithium-specific talent to pull from in order to build teams that can develop complex chemical processing plants.
“There’s just not a lot of experience out there in the world on how to do this stuff,” Callaway said. “So part of it is assembling a team, going through it, experiencing it, finding out the things you didn’t know, working through the kinks, and then settling down an operating team than can run on a highly efficient basis. I think those things take a lot more time and effort and experience than people know.”
Certainly, Callaway’s Orocobre has seen plenty of challenges and delays ramping up production at its Olaroz project in Argentina forward. But as he pointed out, in recent years, the company has done a lot better than others, such as RB Energy, which was forced to close its doors shortly after going into production in 2014. “No one has delivered except for us,” Callaway said.
Orocobre is aiming to bring Olaroz to full nameplate capacity by September, and is aiming to double production in the next two years.
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Another point Callaway drew attention to was the importance of low production costs. It’s a point that has been brought up by Chris Berry of House Mountain Partners and the Disruptive Discoveries Journal time and time again—new lithium players will have to have low production costs to compete with existing players, and to stay profitable in the long term.
Even with sky-high lithium prices to consider, Callaway counselled caution. “If your project needs to have $12,000 per ton battery grade lithium carbonate to be viable, you really ought to reconsider,” he stated.
Callaway is optimistic about lithium prices, but stated that there were plenty of factors to consider, such as how fast both brine and hard rock production can expand, what happens with lithium converters, and what happens in the electric vehicle market. He believes that lithium prices will normalize in the medium term, and when they do, higher-cost projects will have much more vulnerable revenue streams.
For example, he pointed to low-grade hard rock lithium projects that do very well with high prices, but which risk seeing their margins crushed with any kind of price normalization. A lower cost project that would be better equipped to weather the volatility that often plagues commodities prices.
“I really don’t hear enough conversation in my opinion driving a differentiation between those types of revenue and the reason is, people have gotten drunk on these high prices,” Callaway said. “If you assume that prices are $12,000 to $15,000 a ton, everything sort of works but it’s a game that assumes high pricing for a long period of time.”
When looking at lithium stocks, Callaway suggested that investors focus on two main points; the quality of the company’s lithium asset, and the experience and commitment of the management team developing it.
“The quality of the asset is really important,” Callaway said. “If you do the scatter plot of all the projects that are out there in the hard rock space, I [estimate] you would see that the vast majority of them have in-situ lithium [grades] in the sort of 1 to 1.2 percent, maybe 1.25 percent range. But Greenbushes is way over two percent, and that makes a huge difference.”
The Greenbushes mine in Australia is the largest lithium mine in the world, jointly owned by China’s Tianqi Group and US based Albemarle (NYSE:ALB). Much of Australia’s hard rock lithium production is exported to China in the form of spodumene concentrate, where it is then further processed into end products such as lithium carbonate and lithium hydroxide.
As an example of a quality deposit in the hard rock space, Callaway pointed to Nemaska Lithium’s (TSXV:NMX) Whabouchi project in Quebec. “If you take a look at the resource of Nemaska, for instance, they’re sitting at way over 1.5 percent. with a thick vein,” he explained. “That’s very anomalously good compared to most of these things that are out there.”
More generally, Callaway shared a few of his thoughts on what makes a good resource for both brine and hard rock:
“In the brines, you want to have high lithium content and low contaminants and you want some variable extent and height in the reservoir,” he stated. “In the rocks, you want to have it very mineable. So you’ve got to be paying attention to things like the costs of mining and mine-life. And in my opinion … stuff that’s closer to 1.4, 1.5 and above [in grade] are going to be anomalously good hard rock resources.”
Finally, Callaway stressed the importance of a management team that is committed to seeing the project through. That’s something that he believes has been essential to getting Orocobre through its challenges, and that will be key to the success of other companies as well.
“That’s how real enduring values are being created, and those are going to be the winner companies,” Callaway said. “I just think there are not very many of them out there.”
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Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network.
Nemaska Lithium is a client of the Investing News Network. This article is not paid for content.
The post Lithium Stocks: Buyer Beware appeared first on Investing News Network.
TORONTO, ON–(Marketwired – June 20, 2016) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Red Cloud Klondike Strike Inc. (“RedCloudKS”) is pleased to announce the posting of two more investment opportunities to its equity crowdfunding/online financing platform: Lupaka Gold Corp. (TSX VENTURE: LPK) and Anaconda Mining Inc. (TSX: ANX), as well as the launch of “RCKS Talk,” a free mining information service.
Lupaka Gold Corp. (“Lupaka”)
Lupaka is seeking to raise C$750,000 in a bridge loan financing. This is believed to be the world’s first mining debt securities issue on a crowdfunding platform. Click here for more details.
Anaconda Mining Inc. (“Anaconda”)
Anaconda is seeking to raise C$2,000,000 in a flow-through financing. This is believed to be the world’s first flow through securities issue for a producing mining company on a crowdfunding platform. Click here for more details.
“To date, eleven companies have posted securities offerings on the RedCloudKS platform. Four of those offerings are still open to investors while five have successfully closed, amounting to an aggregate of C$22 million raised for our clients,” said Chad Williams, President of RedCloudKS. “The goal of the RedCloudKS online investment platform is to democratize mining investment by giving every investor equal access to securities offerings usually only shown to very few elite ‘insiders.’ Since inception in March 2016, RedCloudKS has presented investors with equity, debt, and flow-through investment opportunities in a wide range of commodities such as gold, silver, uranium, and nickel in a host of geographic locations such as Quebec, Ontario, Newfoundland, British Columbia, Yukon and West Africa.”
Fresh User Interface and Launch of “RCKS Talk”
In pursuit of the goal to democratize the mining company funding process, RedCoudKS has launched its mining analysis product called RCKS Talk. Traditionally, the distribution of research produced by sell-side analysts has been highly restricted, preventing general investors from seeing the best ideas. No more! Visit the RCKS Talk page at www.RedCloudKS.com.
About Red Cloud Klondike Strike Inc.:
Red Cloud Klondike Strike Inc. (“RedCloudKS”) is an exempt market dealer focused on providing unique and innovative financing alternatives, growth opportunities, and market exposure for select mining companies.
The RedCloudKS team has a mix of technical and financial expertise with over 100 cumulative years of combined mining and corporate finance experience. Working as an extension of management, the RedCloudKS team uses its global network of mining and capital markets professionals and extensive in-house experience in the many facets of the mining business to help companies identify sources of capital and quality actionable merger, acquisition and divestiture opportunities, and to generate and maintain important relationships with key investors.
RedCloudKS’ signature online investment platform offers a unique alternative method of accessing capital for mining companies. It enables investors to directly participate in security offerings of companies selected by RedCloudKS’ experienced team and provides companies access to a fresh pool of investors in a streamlined and secure online process.
For further information, please contact:
Katherine Fedorowicz
VP, Marketing & Investor Relations
Red Cloud Klondike Strike Inc.
kfedorowicz@RedCloudKS.com
www.RedCloudKS.com
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The post Red Cloud Klondike Strike Signature Platform Hits Several Important Milestones appeared first on Investing News Network.
TORONTO, ONTARIO–(Marketwired – June 20, 2016) – Crystal Peak Minerals Inc. (“Crystal Peak” or the “Company”) (TSX VENTURE:CPM)(OTCQX:CPMMF) announced today that it has commissioned a team of experienced and skilled professionals to advance the development of previously identified lithium concentrations found in brine at its premium specialty fertilizer project on the Sevier Playa in southwestern Utah, U.S.A. (the “Sevier Playa Project”).
The lithium development team includes Branson Hamilton, Dr. James W. Patten, Ph.D., and Stephen Styler, J.D. This skilled team has substantial experience in mineral production, technology, and business development strategies. The lithium development team seeks to accelerate evaluation of technical processes for lithium production and evaluate and pursue business partnership and off-take agreements as the Company completes the feasibility study and environmental permitting necessary to begin construction.
“We are extremely pleased to commission this experienced team to help us better understand the tremendous potential our project has for lithium production,” said Lance D’Ambrosio, Chief Executive Officer of Crystal Peak. “In addition to producing SOP and other associated minerals, our world-class deposit will likely be able to help meet the ever-increasing demand for lithium while simultaneously providing additional value to our shareholders.”
The need for developing new lithium sources was made evident in the 8th Annual Lithium & Supply Conference held May 24-26, 2016 by Industrial Minerals in Las Vegas, Nevada, USA. Presentations focused on strengthening supply for lithium products used in hybrid and electric vehicle batteries and other traditional technologies. Despite substantial supply-demand growth, most development-stage lithium companies are in the initial phases of exploration and lack Canadian National Instrument 43-101 reports validating the potential of their projects.
In contrast to these ventures, Crystal Peak’s preliminary feasibility study (“PFS”) entitled “NI 43-101 Technical Report Preliminary Feasibility Study of the Sevier Lake Playa Sulphate of Potash Project, Millard County, Utah” with an effective date of October 25, 2013, clearly identified lithium in meaningful concentrations of 0.134% in the pond bitterns. While Crystal Peak’s PFS targeted the production of potassium sulphate, that technical report also stated; “Preliminary evaluation of the feasibility of lithium production from solar pond bitterns is recommended… If this work shows promise, additional testing would be recommended to more fully define potential recovery and operating costs.”
Please refer to the PFS, which is available on SEDAR (www.sedar.com) and on the Company’s website (www.crystalpeakminerals.com), for further details.
Dean Pekeski, P. Geo., Crystal Peak’s Vice President Project Development, and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the feasibility study and the results thereof; the targeting of the development and production of specialty fertilizers and associated minerals, including SOP, lithium, and magnesium compounds through the use of a cost-effective solar evaporation process; and Crystal Peak’s future business. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “is expected”, “expects” or “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “believes”, or variations of such words and phrases; or terms that state that certain actions, events, or results “may”, “could”, “would”, “might”, or “will be taken”, “could occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Crystal Peak to be materially different from those expressed or implied by such forward-looking information. Although Crystal Peak has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Crystal Peak does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The post Crystal Peak Minerals Inc. Engages Team to Initiate Lithium Business Development appeared first on Investing News Network.
Houston, June 20, 2016 (GLOBE NEWSWIRE) — Marathon Oil Corporation (NYSE:MRO) today announced the signing of a definitive purchase and sale agreement to acquire PayRock Energy Holdings, LLC (“PayRock”), a portfolio company of EnCap Investments, for $888 million. PayRock has approximately 61,000 net surface acres and current production of 9,000 net barrels of oil equivalent per day (boed) in the oil window of the Anadarko Basin STACK play in Oklahoma.
Highlights:
“Acquiring PayRock’s STACK position will meaningfully expand the quality and scale of Marathon Oil’s existing portfolio in one of the best unconventional oil plays in the U.S.,” said Marathon Oil President and CEO Lee Tillman. “They’ve built a material position in the high margin oil window of the STACK, and have consistently delivered industry-leading well results. The recent moves we’ve taken to strengthen the Company’s balance sheet, including the successful execution above the top end of our non-core asset divestiture target, have positioned us to be opportunistic to acquire what is an excellent strategic fit.
“We expect the 2016 capital program on the acquired acreage will be covered within our current $1.4 billion budget. As we look into 2017, we would anticipate a minimum four-rig drilling program in our pro forma STACK position, which will achieve leasehold drilling requirements while accelerating delineation work.”
The transaction is subject to customary closing conditions and is expected to close in third quarter 2016, funded with cash on hand.
The Company will conduct a question and answer webcast / call on Monday, June 20, at 9:00 a.m. ET to discuss the acquisition. To participate in the call, please dial 800-446-2782 and ask for the Marathon Oil conference call. The conference call ID is 42825708. The associated commentary and answers to questions will include forward-looking information. To listen to the live webcast, visit the Marathon Oil website at http://www.marathonoil.com. Associated slides will be posted to the Company’s website and to its mobile app approximately one hour before the scheduled call.
# # #
Forward-looking Statements
This release (and oral statements made regarding the subjects of this release) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These are statements, other than statements of historical fact, that give current expectations or forecasts of future events, including, without limitation: the Company’s operational and financial strategies, including the PayRock acquisition, drilling plans, rig count, asset development, non-core asset sales and the Company’s divestiture target, drilling efficiencies, balance sheet strength, and cost reductions; the Company’s ability to successfully effect those strategies and the expected timing and results thereof; the Company’s ability to cover its 2016 capital program on the acquired acreage within its current $1.4 billion budget; and achieve its objective of living within its means; and statements related to the PayRock acquisition, including expected timing, planned financing, valuation, resource estimates, production estimates and asset quality, and the expected benefits thereof.
While the Company believes its assumptions concerning future events are reasonable, a number of factors could cause results to differ materially from those projected, including, without limitation: conditions in the oil and gas industry, including supply/demand levels and the resulting impact on price; changes in expected reserves or production levels; changes in political or economic conditions in the jurisdictions in which the Company operates; capital available for exploration and development; well production timing; availability of drilling rigs, materials and labor; difficulty in obtaining necessary approvals and permits; non-performance by third parties of their contractual obligations; unforeseen hazards such as weather conditions, acts of war or terrorism and the governmental or military response thereto; cyber-attacks; changes in tax, environmental and other regulations; other geological, operating and economic considerations; the Company’s inability to complete the PayRock acquisition; and the risk factors, forward-looking statements and challenges and uncertainties described in the Company’s 2015 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases, available at www.marathonoil.com. The Company undertakes no obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
Cautionary Note to Investors – The U.S. Securities and Exchange Commission (“SEC”) permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC’s definitions for such terms. Any resource estimates in this release, such as 2P Resource or total resource, that are not specifically designated as being estimates of proved, probable or possible reserves, may include other estimated resources that the SEC’s guidelines prohibit us from including in filings with the SEC. Investors are urged to closely consider the disclosures in the Company’s periodic filings with the SEC, available at www.marathonoil.com or on the SEC’s website at www.sec.gov.
Editor’s Note:
2P Resource – Most likely or “2P” volumes represent most likely deterministic estimates of proved plus probable reserves as defined by the SEC, plus contingent or “2C” volumes with the same technical certainty as proved and probable reserves that are expected to be recovered but that cannot yet be classified as reserves, or the P50 on the cumulative distribution of results from probabilistic estimates.
Investor Relations Contacts: Zach Dailey: 713-296-4140 Media Relations Contacts: Lee Warren: 713-296-4103 Lisa Singhania: 713-296-4101
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KELOWNA, BRITISH COLUMBIA–(Marketwired – June 20, 2016) – Fission 3.0 Corp. (TSX VENTURE:FUU) (“Fission 3“) announces that it, has effective immediately, exercised its right to terminate the property option agreement with Canex Energy Corp. for the Clearwater West property. Fission 3.0 retains 100% interest in the property and all claims are in good standing. Management will now pursue alternative options for developing the claims in the Clearwater West area of the Athabasca basin.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”
ON BEHALF OF THE BOARD
Ross McElroy, COO
Fission 3.0 Corp.
Cautionary Statement: Fission 3.0 Corp.
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward-looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. 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 our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3.0 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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Nevada Sunrise (TSXV:NEV) announced that it signed a letter of intent to grant an option to North South Petroleum Corp (TSXV:NAS.H) to earn working interests in five of its lithium exploration projects located in Esmeralda County, Nevada.
As quoted in the press release:
Terms of the LOI
North South will be granted the option (the “Initial Option”) to earn the following interests in the Jackson Wash, Clayton Northeast, Aquarius Properties (collectively, the “Optioned Projects”, or the “Projects”) and the Gemini Property, as follows:
- 51% of Nevada Sunrise’s interest in the Jackson Wash Property (subject to the Jackson Wash underlying option);
- 51% of Nevada Sunrise’s interest in Clayton Northeast Property (subject to the Clayton Northeast underlying option);
- 51% of the Aquarius Property (subject to Nevada Sunrise retaining a 3% gross overriding royalty (“GOR”) for divesting its interest); and
- 50% of the Gemini Property (subject to the terms of the joint venture agreement with Eureka Resources Inc. (“Eureka”) and to Nevada Sunrise retaining a 2% GOR for divesting its interest).
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Alix Resources Corp (TSXV:AIX) announces initial results from sampling program at its Jackpot Lithium property located in the Georgia Lake area within the Thunder Bay Mining Division, Ontario. Multiple samples ran greater than 2 wt.% Li20.
As quoted in the press release:
Approximately 90 kg of spodumene-bearing granitic pegmatite rocks were collected from the surface sent to Actlabs laboratory facilities of Vancouver, BC for assaying. Five of seven samples returned significant lithium values with samples returning in excess of 2% Li2O. Significant results include the following: 0.85%, 2.08%, 1.02%, 2.01% and 2.82% Li2O (lithium oxide).
Alix Resources President and CEO, Mike England, stated:
Given these samples were taken during the winter and visual observation were hampered by snow cover, we are very encouraged with these initial high-grade results and we are looking forward to exploring the potential of the property as we enter the summer exploration season. Finding high-grade spodumene bearing rocks, in conjunction with the encouraging historical diamond drilling results, will help Alix work towards confirming the historical lithium resource on the Jackpot property.
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) was down last week by 0.81 percent to 714.40 points.
Overall, the index is up 36.029 percent for 2016. For the period of June 18 2015 to June 17, 2016, it’s up by 33.22, or 4.87 percent.
A number of companies on the TSXV saw strong weekly percentage gains.
The top five gainers for the week were:
Here’s a closer look at those companies:
Armor Minerals topped the list last week, making gains of 127.27 percent. Year-to-date, the company’s shares have risen 316.67 overall and currently sit at $0.50.
Last October, Armor Minerals signed a definitive earn-in agreement with Jack’s Fork Exploration to acquire up to 80 percent joint venture interest in the Warmister and Tower Hill gold projects in Virginia. The company’s latest news was released on June 10, wherein they announced a non-brokered private placement for total proceeds of $1 million.
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Next on the list is Hunt Mining, which operates in Argentina through its wholly owned subsidiary Cerro Cazador S.A. Cerro maintains control of a number of gold, silver and base metal projects.
Hunt Mining released a production update for its Martha Mine on June 7, which includes a 250 tonne per day flotation plant and crushing circuit. There was no new news last week to explain the company’s rise in share price.
Last week, Hunt Mining’s shares made gains of 43.59 percent to $0.28. Year-to-date, however, Hunt Mining’s shares have jumped 1,766.67 percent
Azimut Exploration rose 41.38 percent last week for a jump of $0.12 to $0.41. Year-to-date, the company has steadily inclined by 256.52 percent.
Azimut currently has a gold and base metal portfolio in Quebec. Late in the week, Azimut announced that together with its partners, it had launched a $2 million exploration program on the Eleonore South Property.
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Centenura Mining is an Argentina-focused company with hard-rock tantalum-lithium pegmatite projects. Most recently, the company announced a re-pricing of a previously announced private placement, increasing from $0.13 to $0.16 per share.
Last week, Centenera’s shares have gained 33.33 percent, a $0.07 increase, to $0.28. Year-to-date, however, the company has made significant gains of 460 percent overall.
Last but not least on this week’s TSXV list is Senator Minerals. Over a five-day period, the company’s shares have increased 20 percent to $0.48. The company’s year-to-date increase is much more significant, with 638.46 percent in gains.
Senator has three properties, but most notably, it holds a 100 percent interest in the Rosebud project, a vein-style gold target in Arizona.
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Data for 5 Top TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Top TSXV stocks in recent weeks:
5 Top TSXV Stocks: Nicola Mining Rises 65 percent
5 Top TSXV Stocks: Rugby Mining Tops the List Rising 100 percent
5 Top TSXV Stocks: Alset Energy Jumps 176.92 percent
5 Top TSXV Stocks: Cartier Resource Rises 55 Percent
5 Top TSXV Stocks: Sutter Gold Mining Rose by 127.27 percent
5 Top TSXV Stocks: Kootenay Silver Rises 64 Percent
5 Top TSXV Stocks: CB Gold Gains 83 Percent
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Gold prices were up again this week, trading at $1,293.10 per ounce as of 1:59 p.m. EST. Prices gained 0.66 percent for the week overall.
Prices briefly traded above $1,300 per ounce on Thursday. That’s the highest price for the yellow metal since May 3, according to Reuters. The US Federal Reserve left interest rates unchanged yet again following the latest FOMC meeting on Thursday, which contributed to gold’s rise.
However, as per Kitco News, gold prices dipped back below the $1,300 level on Friday on the back of rumors that the Brexit vote could be postponed. UK member of parliament Jo Cox was shot and killed on Thursday, after which campaigning on both sides of the Brexit referendum came to a halt.
Similar to gold, silver prices rose steadily through the week but dropped late on Thursday. Prices finished the week fairly flat, up 0.17 percent to $17.40 per ounce as of 2:13 p.m. EST on Friday.
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On the base metals side of things, comex copper prices dipped 0.2 percent to trade at $2.058 per pound as of 2:14 p.m. EST. The metal was up on Friday due to a weaker US dollar and higher oil prices, the Wall Street Journal reported.
Finally, while spot oil prices were on the rise on Friday, they were down for the week overall, dipping 2.12 percent to trade at $47.51 per barrel as of 2:17 p.m. EST.
A note from Commerzbank stated on Wednesday that oil has been under pressure to high levels of risk aversion. Prices dipped despite an update on the market from the International Energy Agency (IEA) that took into account higher demand and unexpected production outages.
took a downward turn for the latter half of the week, losing 0.84 percent overall to finish at $49.29 per barrel as of 1:37 p.m. EST. Commerzbank suggested that the dip was due to poor market sentiment rather than fundamentals. “The oil market is already balanced, in other words, something the IEA previously only expected to happen during the second half of the year,” the firm wrote.
Easing worries over the Brexit vote also contributed to support for oil on Friday, according to Reuters. Brent crude futures were trading at $48.75 per barrel as of 1:53 p.m. EST, while WTI futures were trading at $47.56.
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Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
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