Nevada Sunrise (TSXV:NEV) announced an update on its six lithium exploration projects located in Esmeralda County, Nevada. Nevada Sunrise holds the rights to 8,980 acres in the Clayton Valley, 7,540 acres in the Lida Valley, and 2,882 acres in the Fish Lake Valley for total acreage under claim of 19,402 acres (7,852 hectares).

As quoted in the press release:

Aquarius Project (“Aquarius”)

• 83 unpatented placer claims totaling 1,660 acres (672 hectares);
• Located in the Clayton Valley, approximately 3 miles (5 kilometres) southwest of the Silver Peak Mine operated by Albemarle Corporation (NYSE: ALB), the only producing lithium mine in North America;
• Nevada Sunrise owns a 100% interest in Aquarius with no applicable royalties;
• Aquarius was staked in January 2016 following a review of the results of proprietary gravity surveys carried out by a geological team led by Dr. John Oldow of the University of Texas, Dallas, which outlined a strong gravity low indicative of a deep, faulted sub-basin;
• A follow-up time domain electromagnetic (“TDEM”) survey carried out by Nevada Sunrise in March 2016 detected conductive horizons at depths ranging between 250 and 450 metres;
• Nevada Sunrise plans to submit a permit application to the U.S. Bureau of Land Management (the “BLM”) for a drill program to test for lithium brines at Aquarius.

Clayton Northeast Project (“Clayton NE”)

• 50 unpatented placer claims totaling 1,000 acres (405 hectares);
• Located in the Clayton Valley contiguous to the eastern boundary of the Silver Peak Mine;
• Several lithium brine production wells are situated within 100 metres west of the Clayton NE claim boundary;
• Nevada Sunrise has an option to earn 100% interest subject to a 3% gross overriding royalty (“GOR”);
• A historical USGS drill hole (CV-5) located on Clayton NE was drilled to a depth of 479 feet (146 metres) and encountered lithium values in ground water ranging from 24 parts per million (“ppm”) to 110 ppm lithium, averaging 69.3 ppm lithium for a group of 11 samples, and averaging 65.75 ppm lithium for another group of 12 samples, analyzed both in the laboratory and in the field;
• Nevada Sunrise plans to submit a drill permit application to the BLM to test for lithium brines with deeper holes than those drilled by the USGS in the 1970s.

Neptune Project (“Neptune”)

• 316 unpatented placer claims totaling approximately 6,320 acres (2,557 hectares);
• Located in the Clayton Valley approximately 10 miles (15 km) south of the Silver Peak Mine;
• Nevada Sunrise has an option to earn a 100% interest, subject to a 3.0% GOR;
• Resolve Ventures Inc. (TSXV: RSV) has earned an initial 25% working interest in Neptune from Nevada Sunrise and can earn up to a 50% working interest after completing certain cash and share payments to Nevada Sunrise, and by incurring up to CDN$1.0 million in exploration expenditures over a 3-year period;
• Nevada Sunrise has completed two exploration holes at Neptune: Hole N-2016-1 was drilled to a total depth of 1,500 feet (457 metres) targeting a conductive horizon detected by a 2011 controlled source audio magneto telluric (“CSAMT”) survey carried out by a previous operator. A second hole, N-2016-6R, was drilled to a total depth of 1,760 feet (537 metres). In each of the completed holes, permeable sedimentary, lacustrine strata interbedded with volcanic ash and ejecta was logged at various levels throughout the holes. A total of 45 water samples and 256 sediment cuttings samples were collected and sent for multi-element analysis. Analytical results will be released after their receipt, compilation and interpretation;
• Nevada Sunrise has completed the construction of two additional drill pads and plans to resume drilling on additional targets at Neptune developed from gravity surveys and TDEM data.

Gemini Project (“Gemini”)

• 247 placer claims totaling 4,940 acres (2,000 hectares)
•  Located in the Lida Valley, a desert basin with a similar geological setting to the established Clayton Valley basin, approximately 6 miles (10 kilometres) east of the town of Lida, Nevada;
• Nevada Sunrise acquired a 100% interest in Gemini by staking, with no applicable royalties;
• Eureka Resources Inc. (“Eureka”) (TSXV: EUK) can acquire a 50% working interest in a joint venture at Gemini by reimbursing Nevada Sunrise approximately $96,800 for Gemini’s acquisition and exploration costs (paid) and by issuing to the Company 300,000 shares of Eureka, such issuance subject to acceptance by the TSX Venture Exchange;
• Dr. John Oldow’s geological research team collected approximately 500 gravity measurements along 7 transects crossing the Lida Valley, which indicated strong gravity lows within two, faulted subbasins approximately 7 kilometres (4.5 miles) apart, each interpreted to be hundreds of metres deep;
• Two separate TDEM surveys over Gemini West and Gemini East carried out in 2016 have each detected conductive zones within the sub-basins interpreted to represent conductive brines at depth located well below the non-conductive sediments at and near surface. • Nevada Sunrise plans to submit a permit application to the BLM for a drill program to test for lithium brines at Gemini.

Jackson Wash Project (“Jackson Wash”)

• 130 unpatented placer claims totaling approximately 2,600 acres (1,052 hectares)
• Located in the Lida Valley on the east side of the Montezuma Range;
• Nevada Sunrise has an option to earn a 100% interest, subject to a 3.0% GOR;
• A previous operator sampled deposits of obsidian fragments on the valley floor, which returned lithium values ranging from 97.3 ppm lithium to 117.0 ppm lithium (R. M. Allender, Jr., 2011);
• Results of a detailed gravity survey and two CSAMT lines surveyed in 2011 by a previous operator were interpreted as a layered sequence of unconsolidated, saturated alluvial sediments filling a deep basin beneath the valley floor;
• Nevada Sunrise is planning the first test of the Jackson Wash basin with a 3 to 4-hole drill program of holes up to 400 metres deep to test specific structural and stratigraphic targets believed prospective for lithium brine deposits;
• A drill permit good for 10 holes over a 2-year period was granted by the BLM in February 2016.

Atlantis Project (“Atlantis”)

• 69 placer claims and 19 association placer claims, comprising a total of 2,882 acres;
• Located in the Fish Lake Valley basin, which exhibits similar geological and geophysical characteristics to the Clayton Valley basin southeast of Atlantis;
• Nevada Sunrise has an option to earn a 100% interest, subject to a 3.0% GO
• American Lithium Corp. (TSXV: LI) has recently acquired an option from a private BC company to earn up to an 80% interest in Atlantis from Nevada Sunrise after completing certain cash and share payments to the Company, and by incurring up to US$1.0 million in exploration expenditures over a 3-year period; • Dr. John Oldow’s detailed gravity survey work at Atlantis has defined a deep, sub-basin;
• USGS historical drill hole FL-11a, located outside the eastern boundary of Atlantis and approximately 3 miles (4.5 kilometres) east of the centre of the interpreted sub-basin, was drilled to a depth of 450 feet (147 metres) and encountered lithium values in sediments ranging from 10 ppm to 115 ppm and averaging 61.7 ppm for 67 samples analyzed.
• Geophysical exploration at Atlantis in the form of additional gravity and electromagnetic surveys would assist in determining if conductive brines might be present at depth, followed by drilling of interpreted geophysical targets.

Connect with Nevada Sunrise (TSXV:NEV) to receive an Investor Presentation.

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The lithium market is booming, and more and more junior mining companies are jumping into the lithium space, staking claims in Nevada, Quebec and Ontario and beyond.

It can be difficult to gain exposure to lithium, since the commodity is not traded on any exchange. Also, larger producers listed in North America are often diversified chemical companies, and lithium only makes up one portion of their business. Case in point, lithium only made up about 15 percent of Albemarle’s (NYSE:ALB) core business revenue in 2014.

Still, for investors looking at the space, there are plenty of options. Beyond the top lithium producers in the world, newcomers such as Galaxy Resources (ASX:GXY) and Orocobre (TSX:ORL,ASX:ORE) have also entered the mix, and are currently ramping up production at their projects in Australia and Argentina.

On the exploration and development side, not all lithium companies have simply staked claims. There are plenty that have conducted drill programs, have completed technical reports, or who even have the permits for their mine in hand.

With that in mind, here’s a list of companies that have completed an Ni 43-101 or JORC compliant resource estimate for their projects.

Some on the list are more advanced, and of course, it’s worth noting that technical reports are not infallible (Tim Oliver has written an excellent piece on the subject, which you can read here). Still, it’s worth taking a look at where some of the companies in the space are at with their lithium properties.

Nemaska Lithium (TSXV:NMX,OTCQX:NMKEF)

Nemaska Lithium holds the Whabouchi lithium project in Quebec. Right now, in-pit measured and indicated resources at Whabouchi stand at 27.991 million tonnes at a grade of 1.57 percent Li2O, with inferred resources of 4.686 million tonnes at a grade of 1.51 percent Li2O.

Nemaska has all necessary permits to develop the Whabouchi project, and is currently in talks with potential funding partners to build the mine. The company recently secured its first commercial offtake agreement with Johnson Matthey Battery Materials (JMBM). It also received $12 million in funding from JMBM, completing the required financing for its Phase 1 hydromet plant.

Pure Energy Minerals (TSXV:PE)

Pure Energy Minerals is advancing the Clayton Valley lithium brine project in Nevada. As of July 2015, the project holds an inferred resource of roughly 816,000 metric tons of lithium carbonate equivalent.

On May 11, Pure Energy announced it had commenced mini-pilot plant work with Tenova Bateman Technologies at its research and development center in Katzrin, Israel. Meanwhile, the company is conducting additional drill work at Clayton Valley in support of a preliminary economic assessment set to be completed in summer 2016. It is also the second company to sign a conditional lithium supply agreement with Tesla Motors (NASDAQ:TSLA).

Bacanora (TSXV:BCN)

In November 2015, Bacanora Minerals reported a 337 percent increase in indicated mineral resources for its Sonora lithium project. The clay-based lithium project is located in Mexico, and is owned through a joint venture between Bacanora and Rare Earth Minerals (LSE:REM).

Bacanora and Rare Earth Minerals haven gotten plenty of attention for signing the first, albeit conditional, lithium supply agreement with Tesla. The company completed a prefeasibility study for Sonora in March 2016, indicating a post-tax NPV of $542 million, initial capital costs of $240 million, and a post tax IRR of 25 percent.

Houston Lake Mining (TSXV:HLM)

Houston Lake holds the PAK lithium project in Ontario, Canada. The company announced an updated resource estimate for the project in March 2016; PAK currently holds 7.89 million tonnes in measured and indicated resources grading 1.73 percent Li2O equivalent, in addition to 295,600 tonnes in inferred mineral resources grading 1.69 percent Li2O equivalent.

Pilbara Minerals (ASX:PLS)

Pilbara’s Pilgangoora project in Western Australia holds the world’s second largest spodumene resource. It currently holds indicated an inferred resources of 80.2 million tonnes grading 1.26 percent Li2O, containing roughly 1 million tonnes of lithium oxide.

Critical Elements (TSXV:CRE)

Critical Elements is currently advancing the Rose lithium-tantalum project in Quebec. The deposit consists of 26.5 million tonnes of indicated resources containing 1.3 percent Li2O equivalent, and 10.7 million tonnes of inferred resources containing 1.14 percent Li2O equivalent.

Lithium Americas (TSX:LAC)

Lithium Americas’s Cauchari-Olaroz lithium project holds the third largest known lithium brine resource in the world. It holds an estimated 37,000 tonnes of lithium in proven reserves, 477,000 tonnes of lithium in probable reserves, 576,000 tonnes of lithium in measured resources and 1.65 million tonnes of lithium in indicated resources, as per a June 2015 press release from the company.

The company also holds the clay-based Kings Valley lithium project in Nevada. Lithium Americas merged with Western Lithium in June 2015.

Altura Mining (ASX:AJM)

As with Pilbara, Altura’s Western Australian lithium property is also called the Pilgangoora project. The company signed its first binding offtake agreement for the hard-rock lithium project on April 26.

Currently, Pilgangoora has a JORC resource estimate of 25.157 million tonnes at a grade of 1.23 percent Li2O.

Neometals (ASX:NMT)

Neometals is advancing the Mt Marion lithium project in Western Australia. The project is owned 26.9 percent by Neometals, 30 percent by Mineral Resources (ASX:MIN), and 43.1 percent by China’s Jiangxi Ganfeng Lithium.

Mt Marion holds a JORC-compliant resource of 23.24 million tonnes grading 1.39 percent Li2O. Mining of Pit 1 at Mount Marion commenced in Q1 2016.

Lithium X (TSXV:LIX)

Lithium X only recently came onto the lithium scene, but one of its projects already holds a resource estimate. The company’s Sal de los Angeles project in Argentina was previously owned by Rodina Lithium, and as per a 2011 preliminary economic assessment, the project holds an inferred brine resource of 2.8 million tonnes of lithium carbonate equivalent grading 556 milligrams per liter of Li2O, and an inferred brine resource of 11.2 million tonnes of potassium chloride equivalent grading 6,206 milligrams per litre of potassium chloride.

Galaxy Resources

As mentioned above, Galaxy recently restarted production at its Mt Cattlin lithium mine in Western Australia. However, the company also holds a development stage project in Canada. The James Bay project in Quebec holds indicated resources of 11.75 million tonnes grading 1.30 percent Li2O and inferred resources of 10.47 million tonnes grading 1.20 percent Li2O.

Li3 Energy (OTCMKTS:LIEG)

Li3 is advancing its Maricunga lithium project in Argentina, which consists of the adjacent Litio and Cocina properties. As per a 2012 technical report, Maricunga holds an estimated 603,960 tonnes of lithium carbonate in measured resources and 59,304 tonnes of the material in inferred resources. The project area also contains significant amounts of potash.

 

Anyone we missed? Let us know in the comments. And don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Nemaska Lithium, Houston Lake Mining, Pilbara Minerals, Critical Elements, Galaxy Resources and Avalon Advanced Materials are clients of the Investing News Network. This article is not paid for content.

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CEO interviews are part of investor education campaigns for clients advertising on the Investing News Network. Important news is contextualized by CEOs, and the resulting interviews are disseminated to the Investing News Network audience because they have value to market watchers.

The Investing News Network interviews a CEO for an understanding of their perspective on the company, the investment potential of the company and market news related to the company. The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities.

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Stria Lithium Inc. (TXV:SRA) is a Canadian junior mining company and sole owner of the Pontax Lithium Project in Northern Quebec. Stria is unique among junior miners because of its twin-track operating agenda. The company is focused on the staged development of its lithium mining project, while it aims to generate early revenues from the manufacture of in-demand lithium products intended for next generation lithium-ion battery applications.

Trends in lithium markets are pointing to sustainable high growth over the next decade and beyond fueled in large part by demand from the electric vehicle and renewable energy storage sectors. Lithium has indeed become the darling of the commodities investment sector as production attempts to maintain pace with demand.

The Investing News Network recently spoke with Stria Lithium President and COO Iain Todd who explained why exploiting the company’s in-house developed, proprietary processing technologies and manufacturing capabilities leave it well-positioned to succeed in a commodity sector now in the green energy investment spotlight.

Investing News Network: Dr. Todd, your appointment to lead Stria’s operations comes at a time of burgeoning market interest in the lithium sector. You hold a PhD in Mineral Processing and a Master of Engineering Degree in Extractive Metallurgy. You also have an extensive management and consulting background in the material sciences and lithium project development, in particular.

Stria’s Pontax Project is in the early stages of development and funding for junior miners remains a challenge in today’s commodities markets. Against this backdrop, are you planning to break the mold on traditional mining, and if so, how do you propose to succeed and what do you see as the barriers to success?

Iain Todd: Thank you. Yes, my appointment comes at a very interesting time. The world is transitioning to a low carbon economy and lithium, of course, is the critical metal essential to current and next generation renewable energy production and storage.

My mandate, simply put, is to create operational solutions that provide Stria with a competitive market advantage from technology innovation in tandem with the development of our Pontax project. So, overcoming obstacles goes to the core of my management responsibilities.

Our immediate challenge, however, is to secure a level of investment that meets both our short and longer-term operating requirements. I truly believe we have the ability, and the capabilities to position ourselves in a way that sets us apart from any other junior mining developer.

INN: That’s a very bold and ambitious statement. Would you care to elaborate?

IT: Of course. We’re taking a twin track approach. As we continue the years-long development of the Pontax property, our intent is to build shareholder value sooner from the production and sale of lithium metal in parallel with our mining related operations.

As an emerging junior company, a key element to achieving success in both our mining and manufacturing enterprises is our partnership in a collaborative, technology innovation cluster.

On May 18, 2016, we announced our participation in a collaborative technology relationship with Grafoid Inc., Focus Graphite Inc., and Braille Battery Inc. to form “2GL Platform” — a relationship that gives Stria access to the knowledge and the technologies to make high purity lithium metal and products, including lithium foil, which are important components for the next generation of lithium batteries.

When you combine Stria’s lithium technology experience with those of our 2GL partners, we have nearly 400 man-years of technology development experience in similar technologies to lithium metal production, including lithium mine development. I should add that David Johnson, our Chief Technology Officer has also developed a proprietary, environmentally sustainable and scalable chlorination process for treating lithium mineral concentrates that has been validated and is ready to move to pilot plant stage testing.

This technology consortium is a first in our industry, not only from a product innovation perspective, but as a tactical extension of our marketing and sales approach to global markets.

The singular thread that binds each 2GL partner is a common goal of creating a competitive advantage that meets customers’ demands for high quality, low-cost materials and products. Each partner is an essential contributor to the sustainable, green energy technologies transition.

INN: That’s a very high-sounding approach in theory, but how does it work in practice?

IT: We’ve gone well beyond the theoretical and we’ve positioned ourselves in fact to walk the talk. For example, Grafoid’s next generation graphene battery applications are under development with various JV partners. Focus Graphite’s high purity spherical and expanded graphite are demonstrating world leading conductive capabilities; and Braille Battery has established its sales leadership globally from its lightweight, high power lithium batteries. And, as I mentioned, Stria’s proprietary chlorination process reduces operating costs from a compact design that requires fewer controls, consumes less energy and reduces overall capital costs.

Against that background, we see Stria’s near-term lithium fabrication and production plans as a potentially viable business proposition. Our business plan anticipates revenues generated from the sale of lithium metal and metal products will support the further development of our proprietary lithium ore processing technologies and our Pontax mining development.

INN: That is a very ambitious agenda. Where do you see risk and how would you overcome investor objections?

IT: We feel the only serious obstacle in our path is financial. By refocusing our operations on a parallel mine and lithium production course that’s weighted towards the last steps of our technology chain, we see the early stage generation of cash flow and market penetration versus the more costly early stage mine development. The revenue potential from manufactured lithium metal and low-cost, high-margin lithium foil for niche markets could well serve to mitigate much of the risk associated with our novel approach. The 2GL Platform enables us to draw down immediately our lithium manufacturing and production expertise and house it in Grafoid’s world-class R&D facility in Kingston, Ontario.

A technical feasibility study is currently underway to be completed in the next three months. In parallel to this we’re focused on doing the required process and development testing work, in Kingston, compiling the required engineering data that will permit the preliminary engineering of a full scale testing plant for potential feedstocks for our future lithium metal production facility. We expect this study to be completed within the next ten to twelve months.

INN: And on the mining exploration and development side?

IT: The Pontax Lithium Project is considered an early stage project. The property contains a hard-rock spodumene resource and our approach therefore is conventional in terms of defining the extent of our resource, exploration drilling, metallurgical testing through to a resource calculation, an eventual Preliminary Economic Assessment, environmental and social impact studies and then permitting and mine production.

2016 will see the continuation of development work at Pontax. Our initial 43-101 report published in May 2013 recommended a complete metallurgical study on bulk samples to establish whether the deposit was amenable to conventional ore beneficiation and to further define the ore body. A process flowsheet was developed and tested at the pilot plant level at SGS Minerals at the end of 2015 and a final report is pending, but preliminary results indicate that the ore body behaves positively to conventional up­grading and is not unsimilar to other lithium deposits in the area.

The next step would be to complete our drilling program. We intend a two-stage process scheduled for initiation by the end of this year. Stage 1 will make sure we understand the breadth of the deposit with an extended surface geophysical survey, and then in Stage 2 the following year, we will execute a drilling program to confirm the surface survey and/or get a reportable reserves estimate.

INN: Will the market see you as putting the cart before the horse, so-to-speak, and a renegade among junior miners?

IT: Extracting lithium from hard rock, clays or from brine is relatively well understood. Stria is focused on the most technologically demanding downstream component —producing high quality lithium products to gain a competitive edge in the global lithium market.

As I mentioned earlier, Stria has already developed a proprietary, environmentally sustainable and scalable process that cuts time and costs for producing high purity lithium metal from mined concentrate; and we’re pioneering a fabrication unit to produce in-demand, niche components for next generation lithium batteries because of our partnership in 2GL.

From a business or investment perspective, our counter argument would be that holding stock in a start-up junior mining development company with the ability to move to profitability sooner than later is an attractive incentive for a long-term investment. You might say we’re a renegade, but one supported by innovative production technologies and focused commercial aspirations.

INN: Would you describe your company as a lithium mining development company or a manufacturer of technology lithium products?

IT: Both, actually. We’re simply planning to build our manufacturing facilities in advance of Pontax production so we’ll be ready to receive its output. Our client base, presumably, will have been established long before the demand curve puts upward pressure on supply.

INN: You appear to have strong, compelling arguments and a novel rationale for investing in Stria. Are there any other factors that support your enterprise ambitions?

IT: Yes, the key factor is timing. Economies are focusing now on developing clean energy technologies for a sustainable future driven in part by the need to abate global warming. With implementation of the UN sponsored agreement on Climate Change in 2020, Canada becoming a signatory on April 22, 2016, it gives us a short time to bring our mine into production as global demand peaks for highly purified, technology grade lithium.

Given the realities of the mining sector, a lithium company already in production of fabricated, in demand battery components built from any base lithium feedstock would be on the leading edge of market penetration. I believe we are the company to watch and follow over the coming months and years.

The post Stria Lithium: A Junior Mining Company in a Technology League of its Own appeared first on Investing News Network.

Shares of Forum Uranium (TSXV:FDC) were up 10 percent on Wednesday following news that Rio Tinto Exploration (RTX) had discovered new zones of uranium mineralization at the Henday property.

The Henday property is owned 40 percent by Forum and 60 percent by RTX, a subsidiary of Rio Tinto (NYSE:RIO,LSE:RIO). It is located in Saskatchewan’s Athabasca Basin, northeast of Rio Tinto’s Roughrider deposit.

RTX recently completed a 15 hole 5,340 meter drill program on three target areas at the property, Five out of six holes drilled at the Hollow Lake target intersected significant alteration, with one hole intersecting anomalous uranium mineralization at two discrete 0.3 meter uranium-bearing fractures. Results of exploration work have made the Hollow Lake area a priority target for follow up work. Follow up drilling at the Epitaph and Elephant target areas was also recommended.

“The size and strength of the alteration intersected at the Hollow Lake target suggest that uranium bearing fluids have migrated through significant structures in the area. Further work is required to determine the control of uranium mineralization and the potential areas for where it may have been deposited,” said Forum VP of Exploration, Ken Wheatley, in Wednesday’s release. “We are very pleased with the positive results and quality of work from this first pass drill campaign by our partner on this project.”

See more detailed drill results and cross sections in Forum’s press release here.

Shares of Forum have gained 135 percent so far this year and 175 percent in the past year.

Don’t forget to follow us @INN_Resource for real-time news updates!

 

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Forum Uranium is a client of the Investing News Network.

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Peyto Exploration & Development (TSX:PEY) has announced that it has closed its previously announced bought deal offering of common shares. The company issued 5,390,625 common shares at a price of $32 per common share, for total gross proceeds of approximately $172.5 million.

As quoted in the press release:

The syndicate of underwriters was co-led by BMO Capital Markets and FirstEnergy Capital Corp., and included RBC Dominion Securities Inc., Peters & Co. Limited, Scotia Capital Inc., TD Securities Inc., CIBC World Markets Inc., Raymond James Ltd., Canaccord Genuity Corp. and Haywood Securities Inc.

Net proceeds from the offering will initially be used to partially repay outstanding bank indebtedness, thereby freeing up borrowing capacity which may be used to fund a portion of the Corporation’s 2016 capital program and for general corporate purposes.

Click here for the full press release.

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UEX Corporation (TSX:UEX) has closed two of its previously announced private placements for proceeds of $7.25 million. One of the private placements was a placement of flow-through shares, the proceeds of which will be used for exploration at the company’s uranium properties.

As quoted in the press release:

The Company has also closed its additional private placement with Primary and Clarus Securities Inc. (the “Agents”) for 9,523,810 units of the Company at a price of $0.21 per unit (the “Hard Dollar Offering”). Each unit consists of one common share of the Company and one-half common share purchase warrant. Each whole warrant gives the holder the right to purchase a common share of the Company at a price of $0.30 for a period of two years from the closing of the Hard Dollar Offering. The aggregate gross proceeds of the Flow-Through Offering and the Hard Dollar Offering totalled $7.25 million.

The Agents received a cash commission on the sale of the Flow-Through Offering and Hard Dollar Offering equal to 5% of the gross proceeds raised.

UEX intends to use the proceeds of the Flow-Through Offering to fund exploration of the Company’s uranium properties and proceeds from the Hard Dollar Offering are to be put towards general working capital.

The securities issued by UEX in connection with the Flow-Through Offering and Hard Dollar Offering are subject to a four month plus one day “hold period” as prescribed by the Toronto Stock Exchange and applicable securities laws.

Click here for the full press release.

The post UEX Closes $7.25 Million Private Placement appeared first on Investing News Network.

Grafoid Inc. a privately held developer of industrial scale graphene applications is pleased to announce the formalization of a strategic green energy business alliance branded as the 2GL Platform with Stria Lithium Inc. (TSXV:SRA), Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) and Braille Battery.

As quoted in the press release:

The collaborative agreement, executed in late March, 2016 unifies for the first time, the development of materials, technologies and processes critical for next generation energy applications under a shared vision and direction.

Grafoid Inc. is a world-leading graphene research, development and investment company that invests in, manages and develops markets for processes that produce economically scalable graphene for use in graphene applications. (www.grafoid.com)

Focus GraphiteInc. is an emerging graphite mining development company with the objective of producing value-added products for the lithium-ion battery market and graphite for graphene enhanced applications and products. (www.focusgraphite.com)

Stria Lithium Inc. is a junior mining exploration company with an expanding technology focus in lithium metal and foil. (www.strialithium.com)

Braille BatteryInc. is a leading manufacturer and seller of ultra-lightweight high performance AGM and lithium-ion batteries. (www.braillebattery.com)

2GL Platform’s website can be found at: www.2GLPlatform.com

The alliance incorporates a mine-to-market next generation energy production and storage supply chain whereby: High performing graphene will be supplied by Grafoid; battery grade graphite will be supplied by Focus Graphite; lithium metal and lithium foil will be supplied by Stria Lithium; while battery production and sales will be through Braille Battery.

Grafoid Founding Partner and CEO, Gary Economo, stated:

2GL Platform is an alliance for future growth. It benefits from the integration of battery innovation from four leading critical materials development companies. The establishment of 2GL is the affirmation of our vision that integrating innovation from a strategic alliance provides us with a competitive advantage from a joint marketing platform. The potential from next generation green energy markets is enormous. By pushing the boundaries of battery technologies, we aim to supply both materials and the know-how that create better energy storage applications at a cost acceptable for widespread adoption.

Connect with Grafoid Inc. to receive an Investor Presentation.

Connect with  Stria Lithium Inc. (TSXV:SRA) to receive an Investor Presentation.

Connect with Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) to receive an Investor Presentation.

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Critical Elements (TSXV:CRE,OTCQX:CRECF,FWB:F12) announced it has entered into an agreement with Canaccord Genuity Corp. to sell 14 million common shares on a bought-deal private-placement basis at a price of 37 cents per share for gross proceeds of $5.18-million.

The company intends to use the net proceeds for exploration and development of the company’s projects, and for general working capital purposes.

Connect with Critical Elements (TSXV:CRE,OTCQX:CRECF,FWB:F12) to receive an Investor Presentation.

The post Critical Elements Arranges $5.18-million Financing appeared first on Investing News Network.

Galaxy Resources Limited (ASX:GXY) along with its project partner General Mining Corporation Ltd (ASX:GMM) (GXY and GMM, together the “ JV Partners”) are pleased to announce that a final binding tri-party definitive documentation has been signed with one customer, and Mitsubishi Corporation and GMM. The final offtake agreement terms are consistent with the terms of the binding Term Sheet announced 8 March 2016. The JV Partners have now banked the US$9 million prepayment from this customer.

As quoted in the press release:

Offtake Agreement Details

On 8 March 2016, Galaxy and GMM announced the signing of two binding term sheets with Chinese customers for the sale of 60kt of spodumene concentrate at US$600/mt for 2016, and 120kt in 2017, subject to final pricing to be agreed in Q4 of 2016.

Discussions continue with the other Chinese customer who requested a visit to Mt Cattlin before completing the final offtake documentation. A team from that customer, visited Mt Cattlin last week.

Operational Update

Activity at Mt Cattlin continues to progress with first tantalum production achieved on 16 May 2016, fed from existing crushed ore stockpiles. The course rejects from this process (containing Lithium) are being stockpiled ready for activation of the DMS circuit next month.

Connect with Galaxy Resources Limited (ASX:GXY) to receive an Investor Presentation.

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Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) announced it has been approved to upgrade its common stock from the Pink® Open Market to the OTCQB® Venture Market under the trading symbol “SSMLF”, effective today, May 18, 2016.

Nevada Energy Metals CEO, Richard Wilson, stated:

The upgrade of our common stock to the OTCQB Venture Market strengthens our commitment to building a strong, profitable business which will broaden our shareholder base, improve liquidity and increase the visibility for our achievements going forward.

Connect with Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) to receive an Investor Presentation.

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MGX Minerals (CSE:XMG) announced it now controls 14 of the top 25 historical high grade lithium properties (>=90mg/L, up to 140mg/L) as reported by the Alberta Geological Service.

As quoted in the press release:

The dataset comprises lithium geochemical data from ground and formation water in Alberta and near the Alberta border. The data was captured from several databases, including the Alberta Geological Survey (oil and gas wells database, AERI and Beaver River Basin projects), and the Alberta Research Council. In total there are 1,511 records, of which 48 records have >75 mg/L lithium. Nineteen analyses have >100 mg/L lithium (up to 140 mg/L) and occur within the Middle to Upper Devonian Beaverhill Lake Formation and Woodbend and Winterburn groups of west-central to northwestern Alberta.

The Company believes that completion of a N.I. 43-101 compliant technical report is an important first step towards potentially developing future mineral resources for the Properties. The technical report will include detailed geological and historical information on the Properties and is expected to be completed in one month.

Connect with MGX Minerals (CSE:XMG) to receive an Investor Presentation.

The post MGX Minerals Reports Control Over Majority of High Grade Lithium in Alberta appeared first on Investing News Network.

Forum Uranium Corp. (TSXV:FDC) announces that Rio Tinto Exploration (“RTX”) has completed a 15 hole, 5,340 metre drill program on three target areas at its 40% owned Henday Property, located northeast of Rio Tinto’s Roughrider uranium deposit nearby the AREVA/Denison McClean Lake mill in Saskatchewan’s Athabasca Basin. Six holes were drilled in the Hollow Lake target area, 6 holes in the Elephant target area, and 3 holes in the Epitaph target area.

As quoted in the press release:

Hollow Lake: five out of six holes intersected significant alteration. One hole, 16HDY007 intersected anomalous uranium mineralization in two discrete 0.3m uraniumbearing fractures at 177.4m and 182.4m, respectively (Figure 2). Assay results indicate the fracture at 177.4m contains 523 parts per million (ppm) uranium total digestion (UTD), whereas the fracture at 182.4m contains 469ppm UTD. Both intervals are hosted in pelitic gneiss within a 20m interval of pervasive argillization, strong illite, weak hematite, and moderate to strong black chlorite alteration as well as 2.2m of elevated uranium (187–275ppm UTD, Table 2). Four holes drilled within a 200m zone of 16HDY007 have rotated bedding, quartz dissolution, and local silicification of Athabasca sandstone along with moderate to strong argillization, moderate hematite alteration and moderate to strong black chlorite alteration. These factors make the Hollow Lake area a priority target for follow-up work.

Hole ID	From (m)	To (m)	U	B	As	Cu	Mo	Ni	Pb
16HDY013	153.5	154.0	0.52	946	1.27	2.13	2.92	0.65	3.92
16HDY013	154.0	154.5	0.76	1000	2.33	3.23	6.23	1.03	6.6
16HDY013	154.5	155.0	0.44	254	4.3	3.5	2.56	1.89	4.1
16HDY013	155.0	155.5	1.04	56	4.34	15.9	2.8	1.59	2.74
Sandstone results above basement results below.
16HDY007	175.2	176.2	187	6.6	20.4	12.4	0.78	57.4	17
16HDY007	176.2	177.4	275	9.19	32	19.4	0.92	62.5	23.8
16HDY007	177.4	177.7	523	3.91	28	35.7	0.65	92.4	40.1
16HDY007	182.43	182.73	469	34.8	55.2	731	5.23	248	56.4
16HDY007	188	189	69.6	53.2	286	2160	52.2	174	612
16HDY007	191	192	102	39.2	95.6	163	6.79	103	70.3
16HDY011	260	261	48.2	1310	2210	330	240	2270	76.5
16HDY011	261	262	69.3	1190	2380	320	339	2480	112
16HDY013	198	198.5	10.2	31.5	50.7	766	18.3	49	1310
16HDY013	198.5	199	81.9	265	431	3340	442	464	1640
16HDY013	199.49	200	98	588	1180	1680	501	1320	171
16HDY013	211	212	20.4	292	1100	369	114	1170	44.9
16HDY015	322.8	323.3	150	0.82	7.57	66.1	0.78	14.8	79.2

Table 1: Highlights from the Hollow Lake target winter 2016 sandstone and basement assays. All results are reported in ppm. All elements except Boron (B) reported as partial digestion; boron reported as near total digestion.

Epitaph: all three holes contained significant faulting, illitic clay, quartz dissolution, minor red hematite alteration, and rotated bedding in the sandstone, coupled with pervasive clay with weak hematite, limonite, and black chlorite alteration in the basement. A 1.0m interval at 286.8m in hole 16HDY002 returned 214ppm UTD in graphitic pelitic gneiss. Follow-up hole 16HDY004 intersected 131ppm UTD at 256.9m in pelitic gneiss. Structural disruption and alteration of this type is favourable for uranium mineralization, and follow-up drilling is recommended. 

Hole ID	From (m)	To (m)	U	B	As	Cu	Mo	Ni	Pb
16HDY002	149.25	149.5	2.82	24	1.02	0.29	0.08	2.92	1.2
16HDY002	286.8	287.8	214	78.6	47.4	158	2.83	55.2	37.1
16HDY004	256.9	257.4	131	10.9	20	11.9	1.77	26.5	34.5

Table 2: Highlights from the Epitaph target winter 2016 sandstone and basement assays. All results are reported in ppm. All elements except Boron (B) reported as partial digestion; boron reported as near total digestion. Sandstone results are above the space in the table, basement results are below.

Elephant: four out of the six holes drilled contained structurally disrupted sandstone with illitic clay, local minor red hematite alteration, and quartz dissolution. Basement alteration consisted of pervasive, red hematized clay near the unconformity along with black chlorite alteration in shear zones below. Further drilling to follow up areas with uranium-associated alteration and structural disruption is also recommended.

Hole ID	From (m)	To (m)	U	B	As	Cu	Mo	Ni	Pb
16HDY001	160.15	160.65	2.54	161	5.41	0.6	0.12	2.9	2.59
16HDY003	101.6	102.6	1.2	25	11.6	9.14	1.14	0.28	1.91
16HDY003	102.6	103.1	4.55	16	11.9	13.3	1.3	5.25	1.36
16HDY005	148.5	149.0	3.48	11	1.86	0.98	0.11	1.4	1.18
16HDY005	149.0	149.5	3.64	10	1.98	0.88	0.12	1.37	1.65
16HDY005	150.4	150.88	1.99	15	2.07	1.07	0.4	1.04	1.81
16HDY006	154.0	154.73	1.37	382	1.75	0.56	0.22	1.57	2.62
16HDY012	149.0	149.5	1	469	1.53	1.42	0.04	1.18	3.54
16HDY006	249.18	250.31	6.13	514	1170	11	3.98	664	9.86

Table 3: Highlights from the Elephant target winter 2016 sandstone and basement assays. All results are reported in ppm. All elements except Boron (B) reported as partial digestion; boron reported as near total digestion.

Forum Uranium VP of Exploration, Ken Wheatley, stated:

The size and strength of the alteration intersected at the Hollow Lake target suggest that uranium bearing fluids have migrated through significant structures in the area. Further work is required to determine the control of uranium mineralization and the potential areas for where it may have been deposited. We are very pleased with the positive results and quality of work from this first pass drill campaign by our partner on this project.

Connect with Forum Uranium Corp. (TSXV:FDC) to receive an Investor Presentation.

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American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM) announced that further to its news release dated April 20, 2016, the Company has closed its oversubscribed private placement raising $200,500.

The proceeds will be primarily used to conduct “proof of concept” testing of the Company’s proprietary hydrometallurgical process for large-scale recycling of lithium-ion vehicle batteries.

Connect with American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM)  to receive an Investor Presentation.

 

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Nevada Energy Metals (TSXV:BFF) (OTC Pink:SSLMF) announce that it has agreed to grant 1074654 Nevada Ltd an Option to acquire a seventy percent interest in the BFF-1 Clayton Valley Property by making certain Cash Payments, issuing Shares upon completion of a “Going Public Transaction”, and completing Exploration Expenditures on its property at Silver Peak, Clayton Valley, Nevada.

As quoted in the press release:

Cash Payments: US$300,000 to the Optionor as follows: (i) US$100,000 on the Closing Date; (ii) US$100,000 on or before the one (1) year anniversary of the Closing Date; and (iii) US$100,000 on or before the two (2) year anniversary of the Closing Date.

Expenditures: US$1,000,000 on the exploration and development of the Property as follows: (i) US$100,000 on or before the one (1) year anniversary of the Closing Date; (ii) US$300,000 on or before the two (2) year anniversary of the Closing Date; and (iii) US$600,000 on or before the three (3) year anniversary of the Closing Date.

Nevada Energy Metals CEO, Rick Wilson, stated:

We are excited about having a partner with which to advance our Clayton Valley property. This agreement is a first step in fulfilling our promise as an asset builder and project generator. The BFF-1 Project covers an area similar to the structural and geologic settings at Albemarle’s Silver Peak lithium-brine operation and lies only two hundred meters to the north west side of their property. We look forward to an exciting exploration program being carried out in the months ahead.

Connect with Nevada Energy Metals (TSXV:BFF) (OTC Pink:SSLMF) to receive an Investor Presentation.

The post Nevada Energy Metals Agrees to Joint Venture on Clayton Valley Project, Nevada appeared first on Investing News Network.

Macarthur Minerals (TSXV:MMS) announced that it has applied for an additional exploration licence in the Pilbara region of Western Australia to expand its total tenement acreage under application in the region to 1,379 square kilometres (341,000 acres) and a total of 1,505 square kilometres (371,893 acres) in Western Australia.

The Company continues to expand its acreage under application and has one of the largest acreages prospective for ‘hard rock’ lithium of any junior exploration company globally and is one of a few TSX-V listed companies to have projects acquired specifically for lithium in Australia. The expansion of the Company’s acreage package is consistent with the Company’s focus on exploration for lithium.

Connect with Macarthur Minerals (TSXV:MMS) to receive an Investor Presentation.

 

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Last week, Nemaska Lithium (TSXV:NMX,OTCQX:NMKEF) reported that it had signed its final agreements with Johnson Matthey Battery Materials (JMBM), a subsidiary of Johnson Matthey (LSE:JMAT). Nemaska signed an MOU with JMBM back in November.

Under the terms of the agreement, Nemaska will receive an upfront payment of $12 million upon closing, completing financing for its Phase 1 lithium processing plant. Perhaps more importantly, a second agreement marked Nemaska’s first commercial offtake agreement with JMBM.

“We are delighted to have signed these agreements today with Nemaska Lithium; securing the long term supply of lithium salts is an important part of our strategy as we continue to grow our Battery Materials business,” said Neil Collins, Managing Director of Johnson Matthey’s global Battery Materials business, in a statement.

Shares of Nemaska were up 5.22 percent to $1.21, and the company has gained approximately 175 percent year-to-date.

To get a bit more insight into the news, the Investing News Network spoke with Nemaska Lithium CEO, Guy Bourassa, to speak about the agreement and what’s next for Nemaska. Here’s what he had to say:

INN: Congratulations on completing your agreement with JMBM. What about this would you highlight for investors?

GB: The most significant thing about this transaction is that it is the first time a transaction like this one has been completed in the lithium space. Never before have we seen a credible end user forward pay for products and services from a facility that has not yet been built. It speaks to just how tight the lithium supply market is right now and to how much new suppliers are needed.

INN: Part of the agreement was a commercial offtake agreement with JMBM. What do you think this says about the project?

GB: I believe it shows that JMBM are serious players in the lithium battery cathode industry and that they are also very serious about securing long term supply. I think it is in the best interest of  everyone that new suppliers come on stream to meet the rising demand for lithium compounds.

INN: One important point about the plant is that it will produce lithium hydroxide directly from spodumene concentrate. Can you explain the significance of this?

GB: We took the decision a couple of years ago to focus on lithium hydroxide instead of lithium carbonate. This decision was based on our market research and talking to end users about where they saw the battery market moving. The decision to produce lithium hydroxide directly has given us an excellent cost competitive advantage over our peers as everyone else is producing lithium carbonate first and then transforming it into hydroxide. This obviously adds cost. From the end users perspective many customers are moving to chemistries which use hydroxide over carbonate. Tesla (NASDAQ:TSLA) is an example of such a customer.

INN: Who are you sending commercial samples to?

GB: There are about 50 potential end users that we have identified to receive samples. The reality is that we will likely end up supplying four or five clients with material to fulfill large offtake agreements and the rest will be smaller contracts or sold on spot terms.

INN: How are financing discussions for the Whabouchi mine progressing?

GB: We have spoken to potential investors around the globe making them aware of our project. At the moment we have not launched any project financing discussions

INN: What are the next steps for Nemaska after the Phase 1 plant is built and samples are sent?

GB: We will be looking to build the mine and commercial hydromet plant, and we are targeting to be in production by Q2 2018. We will have a number of milestones that we can report on between now and then both from the Phase 1 Plant as well as the commercial project. It is a very exciting time in the company’s history as we are looking to come to market with lithium products in a time when demand has never been higher.

Don’t forget to follow us @INN_Lithium for more updates!

Editorial Disclosure: Nemaska Lithium is a client of the Investing News Network.

Related reading:

Nemaska Lithium Up 18 Percent on Updated Whabouchi Feasibility

Nemaska Lithium Snags Potential Partnership with Johnson Matthey Subsidiary

The post Nemaska Lithium Secures First Commercial Offtake With Johnson Matthey appeared first on Investing News Network.

Back in December, global oil prices collapsed which resulted in fewer oilsands projects planned for construction over the coming years, as written in the National Post. The Post reported that by November, the Canadian Estate Association data showed that homes in Fort McMurray dipped by 19 percent, to an average of $519,000, and that the forecast didn’t offer much hope for oil prices rebounding.

Five months later, oil prices are being affected due to the Fort McMurray fire, with two of the major benchmarks, Brent and West Texas Intermediate, dropping approximately three percent on May 9.

Brent was trading as high as $46.48 a barrel,while West Texas Intermediate was at $46.49, but the gains faltered as the fires moved away from oil production facilities, and the US currency strengthened.

On May 10, Brent jumped more than four percent, with US crude up more than two percent after a late burst of buying. This was driven partially due to expectations that record US crude inventories would not do as well as they have recently.

Oil prices have risen as the wildfire has shut more than one million barrels per day of production from Alberta’s oil sands region.

This Monday, prices hit a six month high as supply outages elsewhere in the world helped to pressure the energy commodity. Brent crude futures rose as much as 2.2 percent on Monday to $48.86 per barrel, while West Texas Intermediate (WTI) futures were up 2.8 percent to $47.49.

The fire’s effect on other supply chains

Gasoline prices in Alberta have not changed, at least not yet. Roger McKnight, a petroleum analyst, expects prices to fall this week, but that they could potentially move higher in the days and weeks to come.

“Gasoline prices will go up relatively soon, I would imagine, because the key refinery hubs are the U.S. Midwest and Gulf Coast, and the U.S. Midwest uses almost exclusively Western Canadian select that comes from Alberta,” McKnight told CBC.

CBC reported the Fort McMurray fire will cost all Canadians, and that analysts estimate the fire could cost insurers at least $9 billion.

One way it will be paid for, analysts say, is by increasing the cost of gas.

Atif Kubursi, a professor at McMaster told CBC that Canadians can expect to see higher gas prices.

“People at the pump are going to pay for it, and not in Alberta, but in Canada and broadly in the rest of the world,” he told CBC.

On May 9 it was reported that price for regular fuel varied from 88.9 cents per litre in Edmonton to a high of $1.19 in Vancouver.

Another petroleum analyst, Dan McTeague, told Global that it’s too early to tell how the fire will affect the gas price.

“If we’re losing between a million to a million and a half [barrels of oil] a day, it would take about 10 days before we start to have problems that would materialize into a problem at the pumps,” he said.

How it will impact the Canadian economy

CTV News reported that the economic fallout of the oil-production shutdowns will likely be felt across the country, according to Todd Hirsch, chief ATB Financial economist.

“I think a lot of people outside of Alberta don’t always recognize the size and scope of Canada’s oil industry. When it is not operating, and when its players are being hit this severely, this is a national issue,” Hirsch told CTV.

He added the extent of economic impact will depend on how soon oil companies are able to resume operations.

Hirsch also said the fire will impact local businesses, especially those in Fort McMurray, after the city rebuilds itself. He said that with every additional day of lost revenue, the businesses will see significant challenges, exampling the flood that impacted Calgary in 2013.

Many businesses in the city will be damaged or destroyed, adding the cost of rebuilding, Hirsch added.

However, it is reported analysts are slashing their projections for Canada’s near-term economic growth, in the wake of the fire, and raising them for later in the year after the city has had time to rebuild.

The article states analysts expect slow to no growth in the second quarter, but that it’s too early to gauge final impact, although the second quarter projections have been drastically scaled back.

Toronto-Dominion Bank economist Diana Petramala, echoed that the economy may be hard pressed to grow in the second quarter of the year.

The fire could reportedly disrupt Alberta’s labour market for months, as displaced workers add to the province’s unemployment rate.

With 88,000 people displaced, and no word yet on when they can return, economists are bracing to see a significant increase in the province’s unemployment rate next month.  It’s reported that Alberta’s unemployment rate is at 7.2 percent, which is up from 5.6 percent last year.

The Financial Post wrote that Statistics Canada recently reported employment in Alberta dropped by 20,800 from March, with about 40 per cent of the losses coming in the resource sector.

Still, there could be hope on the horizon as producers start to recover. “As production ramps back up again and reconstruction efforts begin we could see economic growth could jump back to three per cent in the third quarter of the year,” she told the Globe.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 

The post How the Fort McMurray Fire Has Impacted the Price of Oil and the Canadian Economy appeared first on Investing News Network.

Sanchez Production (NYSE:SP) has reported its first quarter 2016 results.

As quoted in the press release:

Highlights from the report include:

• A cash distribution to common unitholders of $0.4121 per common unit ($1.6484 per unit annualized) related to first quarter 2016 activity, which represents the second consecutive increase of 1.5% over the Partnership’s initial distribution in the third quarter 2015;

• Distribution coverage of 2.65x excluding the Mid-Continent assets, which have been targeted for divestiture, and 1.95x including the Mid-Continent assets (in each case after the effect of the March 31, 2016 conversion of the Class A preferred units to common units);

• Total revenue of $23.2 million and Adjusted EBITDA of $13.5 million during the first quarter 2016;

• Throughput volumes for the Western Catarina Midstream system during the first quarter 2016 of 136% and 132% of the Minimum Quarterly Quantity for oil and natural gas, respectively; and

• A strong liquidity position of approximately $97 million, with a pro forma leverage ratio of 1.9x for the first quarter 2016.

Gerald F. Willinger, CEO, said:

During the first quarter 2016, we demonstrated the capability of both our unique structure and relationships. To that end, we exceeded our volume and revenue expectations on the Western Catarina Midstream system for the quarter, with throughput at 136% and 132% of the Minimum Quarterly Quantity for oil and natural gas, respectively, and began to realize the benefits of continuing Catarina development, which includes further delineation of the South-Central region of the lease by Sanchez Energy Corporation.

Click here for the full press release.

The post Sanchez Production Partners Reports First Quarter 2016 Results appeared first on Investing News Network.

Western Uranium (CSE:WUC) announces that it has closed a third and final tranche of its previously announced non-brokered private placement.

As quoted in the press release:

At this closing, the Company raised gross proceeds of Cdn$34,000 through the issuance of 20,000 units at a price of Cdn$1.70 per unit. The total raised under the three tranches of this non-brokered private placement (the “Offering”) of 465,347 units at a price of Cdn$1.70 per unit (the “Units”) is therefore Cdn$791,090, subject to regulatory compliance.

Each Unit consists of one common share of the Company (a “Share”) plus one (1) common share purchase warrant of the Company (each whole such warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Share at a price of Cdn$2.60 for a period of 5 years.

All the securities issued under the Offering were issued in a private placement in Canada under an exemption from the prospectus requirement. No commission was paid in connection with any of the three tranches of private placement.

Click here for the full press release.

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Western Uranium Corporation (CSNX:WUC) (OTC PINK:WSTRF) announced it has closed a third and final tranche of its previously announced non-brokered private placement. At this closing, the company raised gross proceeds of $34,000 through the issuance of 20,000 units at a price of $1.70 per unit. The total raised under the three tranches of this non-brokered private placement of 465,347 units at a price of $1.70 per unit is therefore $791,090, subject to regulatory compliance.

Connect with Western Uranium Corporation (CSNX:WUC) (OTC PINK:WSTRF) to receive an Investor Presentation.

 

The post Western Uranium Closes Final Tranche of Financing appeared first on Investing News Network.

This week, Gold prices were up 0.55 percent to $1,272.30 per ounce. It was a tumultuous week for gold, but the yellow metal has continued its uptrend since the start of the year.

Analysts at JP Morgan recommended that its clients get read for a “new and very long bull market for gold” in a note to clients this week. The firm’s Solita Marcelli told CNBC’s Futures Now that with a 20 percent rally so far in 2016, gold looks to be gearing up for higher prices. “$1,400 is very much in the cards this year.” Marcelli said.

Goldman Sachs also raised its gold price forecasts this week, according to Reuters, but the firm doesn’t see prices moving quite as highly as predicted by JP Morgan. “Looking ahead, we see limited upside for gold pricing given the limited room for the Fed to surprise to the downside, limited room for the dollar to depreciate, and limited room for China to drive (emerging market) currency strength to contribute to dollar weakness,” it said in a note.

The silver price got a bump as well this week, rising 0.26 percent to $17.04 per ounce. As with gold, silver is now up over 20 percent year-to-date. Erica Rannestad of Thomson Reuters GFMS recently told the Investing News Network that a reemergence in safe haven demand has in part been driving silver’s rise this year.

On the base metals side of things, comex copper prices dropped again this week, losing 1.18 percent to reach $2.11. Prices for the red metal fell on weaker than expected manufacturing data from China and the US, according to Bloomberg.

Furthermore, efforts to put a damper on speculation in commodities trading in China were also weighing on copper prices.

Finally, spot oil prices fell slightly on Friday, but gained 7.17 percent for the week overall to reach $46.21 per barrel. A report from the International Energy Agency (IEA) stated that the world’s oil stocks would see a “dramatic reduction” in the latter half of 2016, the Wall Street Journal reported, which helped to give oil a boost.

As per MarketWatch, West Texas Intermediate (WTI) crude contracts for deliver in June finished the week up 1 percent at $46.22 per barrel, while July contracts for Brent Crude lost 0.5 percent to $47.83 per barrel.

Don’t forget to follow us @INN_Resource for real-time news updates.

 

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article. 

Related reading: 

Weekly Round-Up: Gold Rises on US Jobs Data

Weekly Round-Up: Gold, Silver, Copper Gain on Weaker US Dollar

Weekly Round-Up: Oil Prices Gain for Third Straight Week

Weekly Round-Up: Copper Rises on Record China Imports

Weekly Round-Up: Copper Posts Worst Weekly Loss Since January

Weekly Round-Up: Best Quarter for Gold in Decades

Weekly Round-Up: Gold Price Dampened by Fed Worries

Weekly Round-Up: Silver Outperforming Gold

Weekly Round-Up: 13-month High for Gold Price

The post Weekly Round-Up: Gold and Silver Keep Rising appeared first on Investing News Network.

Sienna Resources Inc. (TSXV:SIE) announced it has engaged Equity Exploration Consultants Ltd. to undertake the 2016 Yukon work program. Sienna Resources still maintains its Yukon property that lies directly west of the Golden Saddle Discovery that Kinross (K-TSX) previously acquired from Underworld and directly north of Kaminak Gold Corporation’s (KAM—TSX.v) Coffee discovery. Goldcorp Inc. (G-TSX) has just announced a proposed acquisition of Kaminak for approximately $520 million.

As quoted in the press release:

Sienna has also just recently acquired the “Esmeralda Project” which is prospective for lithium. This new prospect lies within the USA’s primary lithium address in the Clayton Valley of Nevada. The Clayton Valley hosts Albemarle’s (ALB-NYSE) Silver Peak mine which is the only operating brine based lithium mine in North America. The Clayton Valley is one of the few locations on earth to contain commercial-grade lithium-enriched brine and recently Pure Energy Minerals Limited (PE—TSX.v) signed a supply agreement with Tesla Motors Inc (TSLA-Nasdaq) to potentially supply lithium hydroxide from its Clayton Valley deposit. Management is currently formulating plans to commence operations on this new prospect.

Management will also be presenting at the 8^th annual Industrial Mineral Events Lithium Supply and Market Conference in Las Vegas May 24-26.   “As an exclusive and one-of-its-kind gathering within the lithium industry, running for the eighth time, Lithium Supply & Markets will once again welcome global industry players from throughout the lithium value chain. The chosen city, Las Vegas, will prove the best location as it is close to Tesla’s highly anticipated Gigafactory as well as numerous lithium mine projects in Nevada. Despite falling prices for a range of commodities in 2015, the lithium market has stayed positive. Moving into 2016, upward price pressure is expected to continue with supplies looking tight and demand set to keep increasing.” Management is looking forward to attending the world’s preeminent lithium conference. This forum will bring together the majority of the global industry leaders in the space and we are pleased to be able to properly position the Sienna story within this fast growing sector of the resource world. Management will be able to sit down directly with fund managers, individual investors, regional geological and hydrological experts and other like-minded company managers.

Sienna Resources President, Jason Gigliotti, stated:

While we are focused on growing and developing our lithium assets in the Clayton Valley of Nevada, it would be imprudent to not continue to investigate our properties in the Yukon. Clearly with this proposed $520 million acquisition of our neighbour Kaminak by Goldcorp, the interest in the Yukon is only getting stronger. Management looks forward to a very active 2016 work season on multiple fronts.

Connect with Sienna Resources Inc. (TSXV:SIE) to receive an Investor Presentation.

The post Sienna Resources Inc. Engages Equity Exploration Consultants For 2016 Yukon Season appeared first on Investing News Network.

Vantage Drilling (OTCMKTS:VTGDF) has reported a net loss of $471 million or the period between January 1, 2016 and February 10, 2016 for the Predecessor Company, and a net loss of $29 million for the Successor for the period, including February 10, 2016 through March 31, 2016.

As quoted in the press release:

Upon emergence from Chapter 11 bankruptcy on February 10, 2016, Vantage adopted fresh-start accounting, which resulted in the Company becoming a new entity for financial reporting purposes. References to “Successor” relate to the financial position and results of operations of the reorganized Vantage as of and subsequent to February 10, 2016. References to “Predecessor” refer to the financial position of Vantage as of and prior to February 10, 2016 and the results of operations prior to February 10, 2016. As a result of the application of fresh-start accounting and the effects of the implementation of our Plan of Reorganization, the financial statements on or after February 10, 2016 are not comparable with the financial statements prior to that date.

The Predecessor’s operating results for the period from January 1, 2016 to February 10, 2016, include approximately $452.9 million of Reorganization Items. The Successor’s operating results for the period from February 10, 2016 through March 31, 2016 include Reorganization Items of approximately $154,000.

For the three month period ended March 31, 2015, the Predecessor reported net income of approximately $22.6 million.

Click here for the full press release.

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Serinus Energy (TSX:SEN) has announced its financial and operating results for the quarter ended March 31, 2016.

As quoted in the press release:

First Quarter Highlights

• In early February, Serinus closed the sale of all its interests in Ukraine. Total final consideration was $33.2 million including the previously disclosed $32.9 million plus subsequent working capital and inter-company adjustments.  The Company purchased its position in Ukraine in 2010 for $45 million, and received aggregate dividends and other payments in the amount of $41.5 million which, when combined with the sales proceeds, resulted in a 12.5% annual rate of return over the life of the project.
• From the proceeds of the Ukraine sale, the Company repaid a total of $19.2 million of debt and accrued interest to the European Bank for Reconstruction and Development (“EBRD”). Subsequent to quarter end, a further repayment of $3.4 million was made, reducing corporate debt plus accrued interest to $31.0 million.
• Production for Q1 2016 averaged 2,213 boe/d, down 44% and 50% vs. Q4 2015 and Q1 2015 respectively. The major causes of the drop were the sale of the Ukraine assets, lost time to workovers and testing and natural declines manifesting themselves in Tunisia.
• Tunisian netbacks rose from $4.55/boe in Q4 2015 to $11.44/boe in Q1 2016, with the Company’s ongoing cost reduction efforts more than offsetting lower commodity prices.
• Funds from Operations in the first quarter were down 35% to $2.7 million vs. $4.3 million in Q1 2015, and down 24% compared to Q4 2015, due primarily to the sale of the Ukraine assets and lower production rates. The amount allocable to SEN shareholders was $1.8 million.

Click here for the full press release.

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Nevada Energy Metals (TSXV:BFF) (OTC Pink:SSLMF) announce that it has increased its lithium brine exploration assets through the 100% acquisition of 128 placer claims (2,560 acres/ 1,036 hectares) located in southwest Black Rock Desert, Washoe County, Nevada. The major population center is the town of Gerlach, which lies 177 kilometres north of Reno.

As quoted in the press release:

The western arm of the Black Rock Desert covers an area of about 2,000 square kilometers and contains 5 of the 30 currently listed Known Geothermal Resource Areas in Nevada. The property covers an area of playa underlain by a moderately deep basin interpreted from gravity and seismic surveys indicating a maximum thickness of valley-fill deposits of about 1,200 m/ 3,600 ft. A high salt content prevents any significant vegetation from growing on the playa surface. Locally, the basin is being fed in part by boiling springs and siliceous sinter containing strongly anomalous Lithium values (up to 3.5 ppm) that flank the property on the west side. (U.S. GEOLOGICAL SURVEY Open-File Report 81-918.) While these lithium values are well below those of producing lithium bines, they do represent a significant source of metal available for evaporative concentration within the playa basin.

The company plans to carry out an exploration program this summer to determine the potential for a lithium brine deposit. The exploration program will consist of shallow sampling followed by a high resolution geophysical program to define potential drill targets.

Connect with Nevada Energy Metals (TSXV:BFF) (OTC Pink:SSLMF) to receive an Investor Presentation.

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The uranium spot price has declined in the past year, but higher nuclear demand from China, India and the United Arab Emirates (UAE) is expected to give the metal a boost in price.

The price of uranium was under pressure over the course of the last month, trading at $29.10 per pound on April 15, which was 1.4 percent higher than in March.

Overall, uranium is down 14.9 percent on a year-to-date basis, with its current price at $27.60 as of May 9.

Impact on the uranium spot price

The April edition of the FocusEconomics Consensus Forecast Commodities report indicated that even though Japan has been able to restart some of its nuclear facilities after the Fukushima disaster in 2011, uranium remains oversupplied due to secondary sources, such as excess inventories and nuclear reprocessing.

However, in addition to high nuclear demand, a drying up of secondary supply sources should help tighten up the market. Panelists surveyed in the report expect the price of uranium to average $40.20 per pound in the fourth quarter of 2016, and steadily increasing through 2017 to an average of $45.50 in the fourth quarter.

Of course, this doesn’t quite fall in line with uranium predictions made for 2016. In September 2015, Dundee Capital Markets predicted that uranium prices would reach $55, which it hasn’t been able to reach to date.

Uranium industry update

Platts recently wrote that uranium miners and traders are suffering from oversupply, low prices, lack of liquidity and low demand from utilities. There’s little expectation that market conditions will improve in the short-to-medium term.

At a conference in Abu Dhabi last month, Nick Carter, executive vice president with Ux Consulting said the spot uranium price could stay in the low $30 per pound for quite some time. This is because of an expected excess in near-term supply of approximately 25 million to 30 million pounds of U308 between 2016 and 2019.

Carter reportedly does not see a supply deficit in the market until the late 2020s, due to the current supply gut.

Meanwhile, one of the world’s biggest uranium mining companies, Cameco (TSX:CCO), took a hit in April when it announced its plans to shutter operations at its Rabbit Lake, Saskatchewan operation— eliminating 500 jobs in Canada. The company also announced that it would reduce its production in the US.

This comes after the company reported an unexpected first-quarter adjusted loss due to soft uranium prices and low demand, forcing Cameco to lower its uranium production forecast for the year. The company’s production for 2016 was cut to 25.7 million pounds from 30 million, down from 28.4 million pounds in 2015.

How are junior mining companies doing?

Despite weaker uranium prices, several junior mining companies have been keeping busy with exploration work.

Forum Uranium (TSXV:FDC) announced in April that it had completed eight widely-spaced diamond drill holes, totalling 1,362 metres along a 10-kilometer long electromagnetic conductor on its Highrock Property. This first pass drill program successfully identified several areas of interest for further drilling, with geochemical results expected this month.

Last week, NexGen Energy (TSXV:NXE) announced assay results for 13 angled holes from its winter 2016 drilling program on its Rook I property in the Athabasca Basin of Saskatchewan.

Garrett Ainsworth, vice president of exploration, commented in the release, “Hole AR-16-76c1 takes its place as one of the best drill holes on public record in the Athabasca Basin with a continuous GT of 762. The expansion potential at Arrow is evident as we continue to observe drill holes with substantial high grade intervals located outside of the A2 high grade domain.”

Finally, Fission Uranium (TSX:FCU) announced in April that it had hit new intercepts of high grade mineralization at its PLS property, host to the Triple R deposit, also in the Athabasca Basin.

Ross McElory, president, said, “These results show it’s still very early days here at PLS. Fission’s exploration drilling has delivered high-grade, near-surface assays 2.34km apart on a 2.58km mineralized trend that is already the largest footprint in the Athabasca Basin region. In other words, exploration growth has been strong this winter and we have a number of exciting exploration targets on our hit list for this summer.”

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Forum Uranium is a client of the Investing News Network. This article is not paid for content.

The post Uranium Spot Price Update appeared first on Investing News Network.

Oil production has slowed in Alberta as a result of the wildfire in Fort McMurray, which has forced the shutdown of more than one million barrels a day of production, impacting the price of oil, and remains unclear as to when some companies can restore business operations.

How long until oilsands operations resume production?

Suncor Energy (TSX:SU) announced on May 8 their plan to implement a return to operations in the Regional Municipality of Wood Buffalo, although it still isn’t clear when it will return to operations. They said in the press release, in connection with third-party pipeline providers, that they are conducting a thorough assessment to ensure the critical infrastructure required to support the start-up is available and can safely move people back into the region.

On May 9, Royal Dutch Shell (NYSE:RDS.A), announced it had been able to safely restart production at its Shell Albian Sands mining operations, making it the first company to resume operations at the centre of Canada’s oil sands region.

Enbridge Inc. (TSX:ENB) began inspecting its facilities and prepared for plans to restart operations, according to the Calgary Times.

Zoe Yujnovich, executive vice president, said in the press release, “Safe restart is important to our company and staff to allow us to contribute to the recovery efforts of the Fort McMurray area. Safely resuming some of our operations will help us continue to provide fuel to the firefighters, ambulances, planes and others dedicated to the response efforts.”

It is estimated the minimum to restore oilsands mines and steam-driven projects and pipelines is about a week,  assuming there’s no damage to crucial equipment.

Alberta Premier Rachel Notley met with oilsands executives on May 10, including members from Suncor, ConocoPhillips Canada (NYSE:COP) and the Canadian Association of Petroleum producers to discuss their plans.

Al Monaco, Enbridge CEO, said in a statement, “We have a well-trained and experienced team that has developed a detailed logistical plan to enable the safe restart of our pipelines and terminals.”

 Shell said it would fly its staff in and out of the region, while Imperial Oil (TSX:IMO) said its Kearl oil sand mines project will remain shut until the company has worked out how to move people and materials to and from the remote site.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 

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Nevada Energy Metals (TSXV:BFF) (OTC Pink:SSLMF) announced that it has commenced the process to upgrade the Company to the OTCQB® Venture Market.  The Company currently trades on the Pink Open Market.

Nevada Energy Metals CEO, Rick Wilson, stated:

We are excited about submitting the application to upgrade to OTC Markets Group’s OTCQB Venture Market. We expect that, if granted, this designation will facilitate an increased following of shareholders and brokers who are more comfortable with OTCQB market standards.

Connect with Nevada Energy Metals (TSXV:BFF) (OTC Pink:SSLMF) to receive an Investor Presentation.

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Perpetual Energy (TSX:PMT) has announced the signing of a definitive agreement to sell its 30 percent partnership interest in Warwick Gas Storage for $20 million. The transaction includes the disposition of Perpetual’s share of Warick’s approximately $8.3 million of debt net of working capital.

As quoted in the press release:

Perpetual will receive a net dividend of $0.5 million at closing, for effective total value of approximately $23 million. The transaction includes the gas storage reservoir and facility as well as 9,207 net acres of surrounding lands and associated wells and infrastructure with current net production of 470 Mcf/d (the “Buffer Land Assets”, collectively with WGS LP, the ‘Disposed Assets’). Closing is expected to occur on or around May 25, 2016 and is subject to customary closing conditions.

Based on the Company’s third party engineering report prepared by McDaniel and Associates Consultants Ltd. (“McDaniel”), as at December 31, 2015, the Buffer Land Assets include 316 Mboe of recognized proved and probable natural gas reserves valued at $37 thousand.

Estimated 2016 funds flow from the Disposed Assets is forecast to be $2.9 million, virtually all of which is attributable to funds flow from the gas storage business in WGS LP and previously expected to reduce Perpetual’s share of debt within the partnership. As such Perpetual does not anticipate 2016 funds flow to be impacted by the disposition.

Click here for the full press release.

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Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) announced an update on its uranium assets. On September 1, 2015 Anfield announced the acquisition of the Shootaring Canyon Uranium Mill, one of only three licensed, permitted and constructed conventional uranium mills in the United States, and a portfolio of conventional mining assets from Uranium One.

As quoted in the press release:

Since the closing of the Uranium One transaction, Anfield has made significant progress in advancing the project. The Utah Division of Waste Management and Radiation Control (“UDWMRC”), following its extensive review and a public hearing, formally transferred the Shootaring Canyon Uranium Mill’s Radioactive Materials License (“RML”) and the Groundwater Quality Discharge Permit from Uranium One Americas Inc. to Anfield, and Anfield is now preparing an RML renewal application to extend its term. The Company also continues to work with BRS Inc., an engineering firm, to complete a Preliminary Economic Assessment of the Velvet-Wood Mine. In addition, the Company has increased its focus on the acquired Henry Mountains property, an area which includes Anfield’s Frank M mine. Finally, the Company has also initiated a review of a sampling and survey program related to the surface stockpiles acquired in the Uranium One transaction.

Anfield Resources CEO, Corey Dias, stated:

We continue to make progress with advancing our uranium assets. We believe the steps we have taken are providing Anfield with a solid base from which to incorporate the development of the Shootaring Canyon Mill. Overall, we remain positive with regard to the uranium market. Primary production cannot meet present-day consumption. Moreover, only 35% of the uranium consumed over the past three years has been replaced with long-term contracting, which means that uncovered demand is likely to be a significant concern moving forward. We feel that Anfield is well positioned to play a role in addressing the future uranium supply and demand imbalance.

Connect with Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) to receive an Investor Presentation.

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Ikkuma Resources (TSXV:IKM) (the Corporation) has announced its completion of a bought deal private placement offering with a syndicate of underwriters led by Desjardins Securities, including TD Securities, FirstEnergy Capital and Acumen Capital Finance Partners.

As quoted in the press release:

The Corporation issued 14,085,000 common shares of Ikkuma on a “flow‑through” basis pursuant to the Income Tax Act (Canada) (“Flow-Through Shares“) at a price of $0.71 per Flow-Through Share for gross proceeds of $10,000,350.

The gross proceeds from the Offering will be used by Ikkuma to incur eligible Canadian exploration expenses (“Qualifying Expenditures“) prior toDecember 31, 2017 in the aggregate amount of $10,000,350 raised from the issue of Flow-Through Shares.  Ikkuma will renounce the Qualifying Expenditures to subscribers of the Flow-Through Shares for the fiscal year ended December 31, 2016.

The Flow-Through Shares issued pursuant to the Offering are subject to a statutory hold period under applicable securities legislation until September 13, 2016.

Click here for the full press release.

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Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) announced the signing of the final agreements contemplated in the collaboration, financial support and lithium salt supply MOU previously announced in the press release dated November 19, 2015.

As quoted in the press release:

A first agreement (the deposit agreement) contemplates an up-front payment of CDN$12M by JMBM in exchange for services and products of the same value from the Nemaska Lithium Phase 1 Plant. At completion, the total amount of $12M will be deposited in an escrow account and will be disbursed to Nemaska Lithium according to certain milestones.

A second agreement provides for a long term supply relationship for lithium salts between Nemaska Lithium and JMBM. This is Nemaska Lithium’s first commercial offtake agreement.

The closing of the JMBM agreement completes the financing of the Phase 1 Plant. The total budget to build and operate the Phase 1 Plant for two years is $38M, of which $12M comes from JMBM up-front payment, $13M from a grant from Sustainable Development Technologies Canada (SDTC), $3M grant from Technoclimat program through the Bureau de l’efficacité et de l’innovation énergétiques of the Ministère de l’Énergie et des Ressources naturelles and finally a $10M equity investment by Ressources Québec Inc. To date, progress payments have been received from SDTC and Technoclimat for a total of $2.85M. With today’s closing Nemaska Lithium will receive a further installment of $2.1M from SDTC.

Nemaska Lithium President and CEO, Guy Bourassa, stated:

We are very pleased to be moving forward with our Phase 1 Plant and to having negotiated our first commercial offtake agreement with JMBM. To date, we have made significant progress on the detailed engineering of the Phase 1 Plant and have ordered some of the long-lead items, including the core electrolysis stacks and rectifiers. We expect to complete construction of the Phase 1 plant by the end of 2016 and to be engaging potential clients with commercial samples of lithium hydroxide as early as Q2 2017. This strategy of engaging customers with commercial samples from the Phase 1 Plant is intended to save us time and money as we expect to shorten the time it typically takes to qualify lithium products with customers. We are currently in discussions with other potential customers and we will update shareholders on future commercial offtake agreements as they are negotiated and signed.

Connect with Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) to receive an Investor Presentation.

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Bankers Petroleum (TSX:BNK) has announced that the proposed transaction has received necessary approvals from the Albanian Competition Authority, the Chinese National Development and Reform Commission and Ministry of Commerce of the People’s Republic of China through the Shanghai Free Trade Zone Management Committee.

As quoted in the press release:

Benefits of the Arrangement include:

• Cash price of C$2.20 per Bankers common share;
• Bankers debt will be handled separately by the purchasing Company and will not affect the stated purchase price of $2.20 per Bankers common share;
• The Arrangement is an opportunity for shareholders to crystalize value representing a premium of 98% over Bankers’ closing share price on the TSX of C$1.11 on March 18, 2016, and 109% over the 30-trading day volume weighted average trading price of Bankers common shares of C$1.05 per share ending on March 18, 2016; and
• The Arrangement has received the unanimous approval of the Board of Directors of Bankers, who have recommended that shareholders vote in favor of it, and carries the full support of Bankers’ management team.

Click here for the full press release.

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Deutsche Bank expressed its excitement over the lithium market in a recent note, The Australian reported.

As quoted in the publication:

Deutsche Bank has become the latest big investment house to jump on board the lithium bandwagon, although its in-depth analysis of the red-hot market includes some insights that could worry those backing the lithium sector’s less advanced players.

A note from Deutsche Bank, Welcome to the Lithium-ion Age, projects “unprecedented demand growth” for lithium in the years ahead due to the rapid growth in electric vehicles and energy storage using lithium-ion batteries.

Click here for the full article.

 

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Nevada Energy Metals (TSXV:BFF) (OTC Pink:SSLMF) announced that an initial near surface auger sampling program on our 100% owned Teels Marsh West claims which covers approximately 810 hectares (2000 acres) in Mineral County, Nevada has recently been completed.  Samples have been sent to ALS Labs, Reno, Nevada, one of the world’s largest and most diversified testing services providers.

As quoted in the press release:

This orientation phase of the lithium detection sampling consisted of 27 shallow auger holes (up to 1.5 meters). The program was designed to collect playa sediment samples near to a thermal anomaly located on and adjacent to a range front fault system along the west side of Teels Marsh. This thermal anomaly was discovered during research into the relationship between geothermal systems and Quaternary borate deposits previously mined at Teels Marsh (Coolbaugh et al. 2006). Close proximity to a geothermal heat source is believed to be one of the principal requirements for concentrating lithium in the brines at Clayton Valley, home to the first commercial lithium brine operation in North America. 

Connect with Nevada Energy Metals (TSXV:BFF) (OTC Pink:SSLMF) to receive an Investor Presentation.

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