Nevada Energy Metals (TSXV:BFF) (OTC Pink:SSLMF) announced that the Company will proceed with the subdivision of its outstanding common shares on the basis of one and one-half new shares for every one old share.

As quoted in the press release:

The directors of the Company have set a record date of March 18, 2016 for the subdivision. OnMarch 23, 2016, being the payment and effective date for the subdivision, an aggregate of 24,132,751 additional shares will be issued to shareholders representing the additional shares they are entitled to as a result of the subdivision.  The Company presently has 48,265,502 common shares issued and outstanding, such that there will be 72,398,253 post-subdivided common shares outstanding following the subdivision.  Outstanding incentive stock options and warrants will also be adjusted following completion of the subdivision.  The Company will not be changing its name or trading symbol in conjunction with the subdivision.

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

The post Nevada Energy Metals To Proceed With 1.5-FOR-1 Share Subdivision appeared first on Investing News Network.

Energy Fuels Inc. (TSX:EFR,NYSEMKT:UUUU) announced that it has closed the previously announced public offering (the “Offering”) of Units made pursuant to an underwriting agreement dated March 9, 2016 between the Company and a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation, as sole bookrunner, along with Haywood Securities Inc., Roth Capital Partners, LLC, Dundee Securities Ltd., Raymond James Ltd., and Rodman & Renshaw, a unit of H.C. Wainwright& Co., LLC.

As quoted in the press release:

The current intention is to use the net proceeds of the Offering to: (i) continue to fund wellfield construction at the Company’s Nichols Ranch Project in Wyoming; (ii) continue to finance the previously announced shaft sinking and evaluation at the Company’s high-grade Canyon mine project in Arizona; (iii) fund costs associated with the proposed acquisition of Mesteña Uranium, LLC announced earlier this week; (iv) fund the cash portion of the proposed acquisition of the remaining 40% of the Roca Honda Project announced last week; and (v) use any remaining funds for general corporate needs and working capital requirements.

Energy Fuels President and CEO, Stephen P. Antony, stated:

Following today’s financing, Energy Fuels has the liquidity to execute our business plan in a variety of uranium price environments.  We recently announced two strategic acquisitions.  We are currently under contract to acquire Mesteña Uranium LLC, which is expected to provide the Company with a permitted source of near-term ISR uranium production that is on the lower end of our cost curve.  We have also entered into a letter of intent to boost our interest in the Roca Honda Project to 100%, which is expected to increase Energy Fuels’ large-scale conventional production capabilities, at improved uranium prices.  In addition, Energy Fuels is currently pursuing two major capital initiatives, including continued shaft sinking and resource evaluation at the high-grade Canyon mine in Arizona and expanding the wellfields at the Nichols Ranch Project in Wyoming.  In today’s weak price environment, our ongoing investments and recent corporate initiatives demonstrate Energy Fuels’ focus on our lowest cost sources of uranium production, while at the same time increasing our scalability to improved uranium prices.

Connect with Energy Fuels Inc. (TSX:EFR,NYSEMKT:UUUU) to receive an Investor Presentation.

The post Energy Fuels Announces Closing of Previously Announced US$12.075 Million Offering of Units appeared first on Investing News Network.

Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) announced it has arranged a private placement of an aggregate amount of $13-million, of which $10-million comes from Ressources Quebec Inc., acting as a mandatary for the government of Quebec and $3-million from the Cree community of Nemaska through the Nemaska Development Corp., the whole by the issuance of an aggregate of 38,235,295 units at a price of 34 cents per unit.

The proceeds of the Offering will be used to finance the construction and operation costs of the Phase 1 Plant that will produce lithium hydroxide and for general expenses.

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

The post Nemaska Lithium Arranges $13-million Private Placement appeared first on Investing News Network.

Avalon Advanced Materials Inc. (TSX:AVL,OTCQX:AVLNF) (formerly Avalon Rare Metals Inc.) announced that it has completed a non-brokered private placement today of 13,700,000 units at a price of $0.10 per unit for gross proceeds of $1,370,000.

Proceeds from this private placement will be used for general corporate purposes primarily related to the advancement of the Company’s Separation Rapids Lithium Project.

Avalon Advanced Materials President and CEO, Don Bubar, stated:

We are pleased to have completed this private placement in a challenging equity market environment. The proceeds from this private placement, along with the proceeds from the flow-through financing completed on December 24, 2015, provide the Company with sufficient funding to complete the planned Preliminary Economic Assessment on the Separation Rapids Lithium Project, scheduled for the end of June, 2016.

Connect with Avalon Advanced Materials Inc. (TSX:AVL,OTCQX:AVLNF) to receive an Investor Presentation.

The post Avalon Completes Non-Brokered Private Placement for Gross Proceeds of $1,370,000 appeared first on Investing News Network.

Sociedad Química y Minera de Chile (NYSE:SQM) clarified information with respect to its lithium exports that had been published in the Chilean press. Among other things, the company stated that it maintains clear and complete records of its lithium exports, and that it has not exported lithium products to North Korea.

As quoted in the press release:

It is not true that SQM exported lithium products to North Korea. Two exports to the South Korean port of Busan were erroneously reflected as having been sent to North Korea in the export records (the numerical codes for these two countries are very similar). SQM provided the respective authorities the invoices, shipping information and export instructions that make clear that the effective final destination of these products was South Korea. South Korea is an important market for lithium consumption for batteries, and SQM has a longstanding business relationship with many companies located in that country. SQM and its subsidiaries do not carry out business activities of any kind in North Korea.

Click here for the full press release.

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The post SQM Says it Did Not Export Lithium to North Korea appeared first on Investing News Network.

Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) announced has arranged a non-brokered private placement for 7.2 million units at five cents. Each unit consists of one common share and a share purchase warrant exercisable at 10 cents for a two-year term. The private placement is closed and the foregoing is subject to regulatory approval.

The proceeds of $360,000 will be used for general working capital purposes

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

The post Anfield Resources Arranges $360,000 Private Placement appeared first on Investing News Network.

This week, Avarone Metals (CSE:AVM) announced that it has entered an agreement with an armss length vendor to acquire the Moab lithium project in the Big Smoky Valley, Nevada.

As quoted in the press release:

The Big Smoky Valley is located 25 km immediately north of the Clayton Valley, home to Albemarle’s Silver Peak Lithium Mine, the only producing lithium brine facility in the United States and which has been in continuous operation since 1967. Recently, Esmeralda County Nevada has seen resurgence in exploration activity, culminating with Pure Energy’s identification of a NI 43-101 inferred resource of 816,000 metric tonnes of lithium carbonate equivalent (LCE)* at a cut-off of 20mg/L in brine. (*Technical Report (2015) Spanjers, MS. PG.)

The Moab Lithium Project is located some 225 km SE of the Gigafactory site. Access to the Moab Lithium Project is excellent and lies adjacent to highway 95.

The primary target at the Moab Lithium Project is a horseshoe shaped gravity low anomaly that has been interpreted as an in filled basin. Exploration of the Big Smoky Valley by the USGS in the 1970’s culminated in the drilling of two Reverse Circulation holes, both of which encountered anomalous concentrations of lithium that were highly similar to those encountered in the Clayton Valley, just to the south, and where the Silver Peak Mine is located. Hole BS-13, which is located just 2.4 kilometers east of the Moab project border was designed to test the same basin covered by the Moab Project and Ultra Lithium’s Big Smoky Valley Project. Hole BS-13 was terminated at 200 m, and geochemical analysis revealed lithium in sediments ranging from 48ppm to 365ppm and averaging 160ppm. This is considered significant, as the cut-off grade used by Pure Energy for their resource calculation is only 20ppm.

Avarone CEO, Marc Levy, said:

This acquisition is a key milestone as Avarone enters one of the hottest sectors in the resource and energy space: Lithium. The board believes that due to growing world demand for lithium, the Moab brine project located in Nevada near Tesla’s Gigafactory, has the potential to deliver strong returns for our shareholders over the short and long term. We look forward to aggressively advancing work on this exciting project.

Click here for the full press release.

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The post Avarone to Acquire Moab Lithium Brine Project in Nevada appeared first on Investing News Network.

Newly minted US in situ uranium producer Peninsula Energy (ASX:PEN) has been producing better than expected results since it started its operations in Wyoming in December of 2015. Given that the company has been exceeding its own expectations, it should come as no surprise to investors that market participants have notices as well. On March 11, Peninsula announced that it has entered into a long term uranium concentrate sale and purchase agreement with a major European utility and nuclear industry leader. 

The agreement brokered by Peninsula is for the sale and purchase of 4 million pounds of U3O8 from the Lance projects over a 10 year period beginning at the end 2020. The agreement also contemplates increasing the sale amount to 50 percent of annual production from 2026 onwards. And while the price and annual quantities are subject to commercial confidentiality, the company notes that the agreement has provided certainty of sale and a committed revenue stream.

Securing an agreement with a European utility is a substantial achievement for the company.As Managing Director and CEO Gus Simpson said in a company statement, “Peninsula is very pleased to execute this contract as it adds geographical diversity to our sales portfolio.”

In signing the sale agreement Peninsula has reached a major catalyst. The deal underpins stage 2 production levels as well as the company’s long term plan to become a significant and profitable global supplier of uranium.

Indeed, as Simpson highlighted “It is an important vote of confidence in our projects, management and ability to deliver uranium well into the future. In addition we have worked with the utility for several years during the evaluation period and we anticipate a long and mutually beneficial relationship.”

The latest sale and purchase agreement marks the fifth sales contract for uranium produce at the Lance projects that the company has under its belt so far. As Simpson told Investing News Network in a recent interview, “The reality is that production [at Lance] has come about for us because we had contracted this material prior to getting into production.”

Simpson added that the sales agreements have certainly “been a significant contribution to [the company’s] ability to attract the financing to get the development underway.” Clearly, Peninsula the previous sales contracts the company had signed have helped in solidifying the company’s position as a low cost producer, and made it easier for the company to attract other sales partners.

On the back of the news, shares of Peninsula have seen a nominal 3.75 percent increase. The company is currently trading at A$0.83.

 

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

Peninsula Energy is a client of the Investing News Network. This article is not paid-for content

The post Peninsula Energy Inks Sales Agreement with European Utility appeared first on Investing News Network.

It’s been a bumpy week for the gold price, which sank as low as $1,239.40 per ounce on Thursday before spiking to a 13-month high of $1,285. As of 2:00 p.m. EST on Friday, it was changing hands at $1,259. 

As MarketWatch explains, Thursday’s volatility came after the European Central Bank “loosened monetary policy, but backed away from additional easing measures.”

“[T]raders were finding it hard to digest all the news,” Naeem Aslam, chief market analyst at AvaTrade, told the news outlet. “But, as the dust settles, traders do envisage that the ECB’s [decision] could help the eurozone and the economic situations could mend.”

All in all, the yellow metal is now up an impressive 19 percent since the start of 2016, and is enjoying its best start to the year since 1980, according to the Financial Times. The next catalyst to watch for will the US Federal Reserve’s two-day meeting next week. Market watchers believe it will offer key clues about the central bank’s interest rate plans.

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For its part, the silver price peaked this week at $15.71 per ounce on Monday and hit a low of $15.19 on Thursday. As of 2:00 p.m. EST on Friday it was trading at $15.59.

On the base metals side, benchmark copper on the LME closed Friday up 1.6 percent, at $4,970 per tonne. Reuters states that the rise came “as funds reversed bets on lower prices ahead of economic data from top consumer China” — the Asian nation is set to release industrial output and investment data over the weekend.

“Industrial production data will give us a clearer picture of what’s going  on with Chinese demand,” said Macquarie’s Vivienne Lloyd.

Finally, oil prices were up on Friday, with Brent crude changing hands at $40.86 per barrel — that’s up from $28.50 in January. Meanwhile, West Texas Intermediate futures were at $38.59 and above on Friday, as per The Associated Press.

Oil prices have been down and out for the last couple of years, and some investors may be worrying that recent price increases may not last. However, it appears there’s some hope in that regard. The Associated Press also notes that the International Energy Agency has said that “there are signs that prices might have bottomed out.”

 

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

Related reading: 

Weekly Round-Up: Gold Enters Bull Market Territory

Weekly Round-Up: Buy Gold Now, Says Deutsche Bank

Weekly Round-Up: Gold Price Still Has Momentum

Weekly Round-Up: Gold Makes a Comeback

Weekly Round-Up: Gold, Silver Hit Highest in 3.5 Months

The post Weekly Round-Up: 13-month High for Gold Price appeared first on Investing News Network.

A report by Fosters Stockbroking highlighted the recently announced PFS for the Pilbara Minerals Limited (ASX:PLS) Pilgangoora Project in Australia.

As quoted from the report:

Recommendation

• We maintain our Buy recommendation on PLS and increase our price target to $0.76/share (prior $0.47/share based on our risked valuation.
• Catalysts include the DFS, extending the mine life, progress on offtake and financing and continuing positive industry and pricing outlook for lithium.

Connect with Pilbara Minerals Limited (ASX:PLS) to receive an Investor Presentation.

The post Fosters Report: Pilbara Minerals – PFS Outperforms Expectations on Production and Costs appeared first on Investing News Network.

The action in Northern Saskatchewan never seems to let up. Following last week’s big news from NexGen Energy (TSXV:NXE), Denison Mines (TSX:DML,NYSEMKT:DNN) announced Thursday that it’s intersected more high-grade uranium mineralization near the Gryphon zone at its 60-percent-owned Wheeler River property.

Hole WR-641 intersected 3.9 percent eU3O8 over 9.2 meters, including 6.7 percent eU3O8 over 5.3 meters from 721.1 meters in depth. The hole is located 160 meters northwest of Gryphon, and 100 meters northwest and along the same section line as hole WR-633D1, which also contains high-grade mineralization.

The results from hole WR-641 are encouraging for the company because they represent one of the best basement rock intercepts seen at Wheeler River since the discovery of Gryphon in 2014. Overall, results from the company’s winter program suggest that Denison may be looking at the down-plunge extent of a series of lenses found at Gryphon.

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In a note to clients, Colin Healy, an analyst at Haywood Securities, stated, “[t]his area [north of Gryphon] continues to show potential to evolve into another significant deposit at the Wheeler River project, which is currently the subject of an ongoing Preliminary Economic Assessment (PEA), expected to be published within the next two months.”

Investors will recall that 2015 was a good year for Denison, which achieved a key milestone at Wheeler River with the completion of an initial mineral resource estimate for Gryphon. The deposit is estimated to host an inferred mineral resource of 43 million pounds of U3O8 at an average grade of 2.3 percent U3O8. Combined with the company’s high-grade Phoenix deposit, Wheeler River is estimated to contain an indicated mineral resource of 70.2 million pounds U3O8 at an average grade of 19.1 percent U3O8, as well as an inferred resource totaling 44.1 million pounds U3O8 at an average grade of 2.34 percent U3O8.

The maiden resource for Gryphon includes A, B and C series lenses, which according to the company all occur hanging wall to the basal pegmatite unit. The company is about halfway through its winter drill program, meaning that there are still plenty of opportunities to see further positive results. Denison’s forthcoming PEA will not include any of the current drill work on the new area north of Gryphon, as the study is currently underway and the zone still requires significant follow-up drilling to determine its full potential.

However, as Healy states in his note, “any additional significant resources in close proximity to the Gryphon zone could potentially later serve to enhance the economics of the first iteration of the forthcoming PEA.”

 

Securities Disclosure: I, Vivien Diniz, hold no direct investment interest in any of the companies mentioned in this article.

The post Denison Mines Intersects Additional High-grade Mineralization Near Gryphon appeared first on Investing News Network.

Peninsula Energy (ASX:PEN) announced that it has entered into a long term uranium concentrate sale and purchase agreement with a major European utility and nuclear industry leader.

As quoted in the press release:

The agreement is for the sale and purchase of 4.0 million pounds of U3O8 from the Lance Projects over a 10 year p eriod beginning at the end of 2020 and contemplates increasing this to 50% of annual mine production from 2026 onwards.

Peninsula Energy Managing Director and CEO, Gus Simpson, stated:

Peninsula is very pleased to execute this contract as it adds geographical diversity to our sales portfolio. It is an important vote of confidence in our projects, management and ability to deliver uranium well into the future. In addition we have worked with the utility for several years during the evaluation period and we anticipa te a long and mutually beneficial relationship.

Connect with Peninsula Energy (ASX:PEN) to receive an Investor Presentation.

The post Peninsula Energy Completes Sale Agreement with Major European Utility appeared first on Investing News Network.

Pilbara Minerals (ASX:PLS) has released results of a pre-feasibility study for its Pilgangoora lithium-tantalum project in Western Australia, which it expects will produce 330,000 tonnes of 6 percent spodumene concentrate and 274,000 pounds of tantalite per year.

The study considers a 2 million tonne per annum mining and processing operation. Overall, the project has a post-tax net present value (NPV) of A$408 million at a ten percent discount rate, with a 44 percent internal rate of return (IRR) and a two year payback period.

Currently, the mine life for Pilgangoora sits at 15 years, but Pilbara expects to increase this, with drilling currently underway as part of its definitive feasibility study.

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“The strong technical fundamentals and excellent financial returns of the project are underpinned by a relatively modest capital cost estimate together with low forecast cash operating costs, which reflects the inclusion of significant tantalite by-product credits,” said Pilbara Minerals CEO Ken Brinsden in a statement.

“This means that the project will be capable of generating very strong operating margins and cash flows, producing a high-quality product that we expect will be in high demand as evidenced by the very high level of interest already displayed by our customer base.”

Pilbara states that the current spot price for spodumene concentrates is roughly US$600 per tonne, Cost and Freight (CFR), but that it used a more conservative US$456 per tonne CFR price estimate for its study. Overall, Pilgangoora is expected to garner operating costs of US$205 per tonne of spodumene concentrate, freight on board (FOB), including tantalum byproduct credits.

Initial metallurgical testwork anticipates lithia recovery rates of 77 percent, and the company is aiming to further improve flotation recoveries for the project.

Furthermore, Pilbara has released its maiden ore reserve for Pilgangoora as part of the PFS, which comes in at 29.5 million tonnes at 1.31 percent LiO2 and 134 ppm Ta2O5 and 1.18 percent Fe2O5.

While lithium brine operations in Chile and Argentina account for a significant share of global production, it’s worth noting that Australia is actually the world’s top lithium producing country. As Joe Lowry of Global Lithium has noted (and as we’ve discussed here previously), Australian hard rock projects are getting more and more attention from Chinese lithium producers.

China in partnership with Australian hard rock – the new leader of the #lithium universe. #talison $GXY $NMT $PLS pic.twitter.com/pZBzZl9jiJ

— Joe Lowry (@globallithium) March 10, 2016

China in partnership with Australian hard rock – the new leader of the #lithium universe. #talison $GXY $NMT $PLS pic.twitter.com/pZBzZl9jiJ

— Joe Lowry (@globallithium) March 10, 2016

China in partnership with Australian hard rock – the new leader of the #lithium universe. #talison $GXY $NMT $PLS pic.twitter.com/pZBzZl9jiJ

— Joe Lowry (@globallithium) March 10, 2016

It’s not surprising, then, that Pilbara has signed no less than eight memorandums of understanding (MOUs) regarding offtake agreements for production from Pilgangoora, accounting for 100 percent of what the project is expected to put out. Potential partners include North American, Japanese and International groups.

In any case, investors will certainly be keeping an eye on Pilbara, and on other lithium explorers and developers in Australia. Moving forward, Pilbara expects to complete a definitive feasibility study for Pilgangoora by the third quarter of this year, and will aim to begin commissioning at the project by the fourth quarter of 2017.

Shares of Pilbara initially spiked on Thursday, but closed down 8 percent at $0.345. The company has seen its share price gain 43.75 percent in the past three months and 702.33 percent over the past year.

 

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

Editorial Disclosure: Pilbara Minerals is a client of the Investing News Network. This article is not paid-for content.

The post Pilbara Minerals Releases Pre-feasibility for Pilgangoora appeared first on Investing News Network.

Reuters reported that a number of the world’s biggest uranium miners “are taking a cautious approach to building new mines.” They would rather cut costs and wait for higher uranium prices than get into production right now.

As quoted in the market news:

France’s state-owned Areva SA will trim 100 to 200 more jobs this year and stay out of the hunt for new mine exploration projects, Jacques Peythieu, Areva senior executive vice president of mining business, said in an interview from Paris on Tuesday.

“We are very focused to reduce our cost and to reduce our investment, to be able to manage this period of low price,” he said.

Cameco Corp, the second-largest producer, is slowly expanding the world’s biggest uranium mine, but its CEO said on Monday the company is holding off on expanding to full capacity.

Russian-controlled Uranium One and partner Kazatomprom are ramping up uranium production in Kazakhstan during the next three years, adding 1.5-million to two-million pounds. But Uranium One will delay building a new mine in Tanzania until prices rise more than 70% from current levels, Chief Executive Officer Feroz Ashraf said on Tuesday.

Toronto-based Uranium One, the world’s fourth-largest uranium producer, looks to start construction of the Mkuju River mine in Tanzania once spot uranium prices stick above $55 per pound.

Uranium currently trades around $32.15 per pound.

Click here to read the full Reuters report.

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The post Major Uranium Producers Hesitant to Build New Mines appeared first on Investing News Network.

Pilbara Minerals Limited (ASX:PLS) announced that the PreFeasibility Study on its 100%-owned Pilgangoora Lithium-Tantalite Project in WA has delivered outstanding results, confirming that the project is on track to become a globally significant new mining centre for lithium concentrates for many decades to come.

As quoted in the press release:

The PFS – which has been completed to a high standard with the assistance of a group of highly experienced independent consultants and contractors – has outlined an extremely robust development with low operating costs, capable of generating exceptional returns for Pilbara shareholders.

The PFS includes an initial maiden Ore Reserve for Pilgangoora of 29.5Mt @ 1.31% Li2O, 134ppm Ta2O5 and 1.18% Fe2O3, underpinning a 2Mtpa standalone mining and processing operation over an initial 15-year mine life. There is considerable potential to extend the mine life and/or increase the production rate in the future, by including additional pit inventory not currently included in the PFS Ore Reserve. Drilling currently underway is expected to further increase the resource and reserve inventory across the project, most importantly within the existing defined reserve pit limits.

These outcomes are based on a conservative life-of-mine average spodumene price of US$456/tonne CFR (well below the current spot price of approximately US$600/tonne). An AUD/USD exchange rate of 0.75c has been applied over the LOM.

The highly successful PFS adds significant momentum to the ongoing Definitive Feasibility Study (DFS) for Pilgangoora, which commenced in January and is on track for delivery in Q3 2016.

Pilbara Minerals CEO, Ken Brinsden, stated:

This is an outstanding result for the Company, with the PFS clearly showing that Pilgangoora is a robust, long-life project based on a world-class resource. The strong technical fundamentals and excellent financial returns of the project are underpinned by a relatively modest capital cost estimate together with low forecast cash operating costs, which reflects the inclusion of significant tantalite by-product credits.

This means that the project will be capable of generating very strong operating margins and cash flows, producing a high-quality product that we expect will be in high demand as evidenced by the very high level of interest already displayed by our customer base. Based on these results, Pilgangoora is now firmly established as the world’s leading lithium development project – a premier mid-tier mining asset which is already attracting strong interest from prospective project financiers and cornerstone investors based on its potential to transform Pilbara into a leading player in the rapidly growing lithium industry.

While the PFS – which is an interim document designed to assist us with ongoing financing and offtake discussions while we complete the DFS – is based on an initial mine life of 15 years, we are confident that the mine life will be further extended with additional drilling of the current Inferred Resource base as well as exploration drilling outside of the known Resource envelope. Drilling has already commenced and any additions to the resource inventory will be incorporated into the ongoing Definitive Feasibility Study, further enhancing the key financial outcomes of the project.

The Pilbara Minerals team, together with our key consultants and contractors, have worked extremely hard in delivering this result for shareholders, and I would like to sincerely thank them for the outstanding financial and technical outcomes they have achieved. We will now focus on the completion of the Definitive Feasibility Study by Q3 of this year, with the overall aim of commencing commissioning at the Pilgangoora Project during Q4 2017.

Connect with Pilbara Minerals Limited (ASX:PLS) to receive an Investor Presentation.

The post Pilbara Minerals Announce Pilgangoora Lithium-Tantalum Project PFS Has Deliver Outstanding Results appeared first on Investing News Network.

While a number of metals and energy commodities have seen a change in fortune in 2016, the same can’t be said for natural gas prices.

On March 1, natural gas prices dropped to their lowest level in 18 years, with spot Henry Hub prices hitting $1.57 per million Btu. According to the Financial Post, Canadian natural gas prices are at risk of dropping below $1 by the end of March.

“With too much gas in Western Canada, we believe prices will deteriorate further to under C$1.00 per mcf and could well persist near this level for a few months,” the news outlet quotes Martin King, analyst at FirstCapital Energy, as saying. “Such prices may also be required to force some wellhead shut-ins.”

Prices have gained back some ground since King made that statement — as of March 9, natural gas prices were sitting at $1.77. However, they’re still down a fair bit since the start of this year, as the following price chart shows:

According to FocusEconomics, natural gas prices are trending downward due to strong reserves and forecasts for warmer-than-normal seasonal temperatures. Indeed, as of February, prices were down 27.9 percent relative to the same time in 2015.

“Blizzard conditions that kept many Americans homebound in January increased demand for the heating fuel, which caused prices to spike late in the month,” the firm explains in its February commodities consensus forecast. “However, overall demand for heating is still expected to be lower than normal this winter and inventories are currently 20% higher than they were this time last year.”

And natural gas stockpiles are only growing. The latest weekly natural gas storage report from the US Energy Information Administration states that as of February 26, natural gas stocks were sitting at 2,536 billion cubic feet (Bcf). That’s 794 Bcf higher than the same time in 2015, and 666 Bcf higher than the five-year average; it’s also above the five-year historical range for natural gas prices.

On a brighter note, as already mentioned, natural gas prices have gained back some ground recently, and FocusEconomics states that in a survey it completed for its report, many firms said they expect prices to recover as the market adjusts to oversupply.

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Still, it’s worth noting that four of the analysts surveyed revised down their Q4 2016 projections, while 10 left their predictions unchanged. None increased their forecasts.

On average, the firms surveyed see natural gas prices at US$2.85 in the fourth quarter of this year. Societe Generale (EPA:GLE) gave the highest prediction, at US$3.45, while Economist Intelligence Unit gave the lowest prediction, at US$2.41. Overall, the firms see natural gas prices at US$2.60 for the full 2016 year.

“Fourth quarter forecasts, which coincide with winter months in the U.S., generally have a larger spread as heating needs tend to be more volatile,” FocusEconomics states. Certainly, natural gas investors will be keeping an eye on the weather over the coming months.

 

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

The post Natural Gas Prices Under Pressure, but Could Recover Later This Year appeared first on Investing News Network.

Lithium Australia NL (ASX:LIT) announced it has expedited the Program of Works for the extraction of a trial sample for pilot testing of Lepidolite Hill lithium micas.

As quoted in the press release:

Highlights

• Testing will advance the versatile, 100% owned Sileach™ process towards commercialization
• Pilot testing of the Sileach ™ process will be undertaken in an independent laboratory
• Independent laboratory to provide pilot plant equipment reducing capital requirement
• The program will not only advance Sileach™ process development but also the Coolgardie Rare Metals Venture, established with Focus Minerals Limited (ASX:FML) in September 2014

Sileach™ process commercialization 

The Sileach™ process has been developed by LIT as an alternative to roasting silicates for the recovery of lithium. The process is:

• Energy efficient;
• Undertaken at atmospheric pressure; and
• Very versatile (applicable to all silicates).

The Sileach™ process offers a real alternative for hard rock lithium producers, in particular those producing spodumene. The process can produce lithium carbonate, hydroxide, or higher-level lithium chemicals.

When integrated with primary hard-rock lithium production, the application of the Sileach™ process will provide the opportunity for lithium producers to bypass third party refiners, which are presently the bottleneck in the lithium production chain.

Program acceleration

LIT is accelerating the commercialization of the Sileach™ process. An integral part of the commercialization process is pilot testing. To provide the first plant feed LIT will recover high- grade ore from Lepidolite Hill, near Coolgardie in Western Australia (Figure 1). The Western Australian Department of Mines and Petroleum has approved the Program of Works to recover up to 1,500 tonnes of Lepidolite ore. LIT has entered into discussions with mining contractor to recover the test parcels.

Connect with Lithium Australia NL (ASX:LIT) to receive an Investor Presentation.

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The Associated Press reported that a natural gas explosion took place in Seattle early Wednesday morning.

As quoted in the publication:

Crews were responding to reports of a natural gas leak when the explosion happened along the main thoroughfare of the city’s Greenwood neighbourhood, just north of downtown, Seattle Fire Department spokeswoman Corey Orvold said.

As the neighbourhood hummed to life Wednesday morning, crews were still dousing an active flame with foam. Residents were checking out the damage and the rubble and glass that littered the streets was being swept up. Employees from one cafe damaged in the blast were pouring coffee for firefighters.

Click here for the full article.

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Reuters reported that oil prices were up as much as four percent on Wednesday. A drawdown on US gasoline inventories has helped to convince the market that energy demand is improving in the US.

As quoted in the publication:

U.S. crude futures were up $1.44 at $37.94 by 11:49 a.m. ET (1649 GMT).Brent crude futures rose $1.19 to $40.84 a barrel, having touched three-month highs on Tuesday above $41.

The U.S. Energy Information Administration said crude stockpiles rose 3.9 million barrels to nearly 522 million barrels, as predicted by analysts in a Reuters poll.

Click here for the full article.

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Nano One Materials (TSXV:NNO) has been approved for a $2.08 million technology commercialization grant from Sustainable Development Technology Canada (SDTC).

As quoted in the press release:

The proceeds will be non-dilutive and non-repayable and they will help fund the design, construction, optimization and demonstration of Nano One’s Demonstration Pilot Plant for the production of lithium ion battery cathode materials.

The pilot plant will be used to showcase Nano One’s patented technology and demonstrate cost, scalability and performance to third party strategic interests. The pilot plant is being designed to produce approximately ten (10) kilogram batches of various lithium ion cathode materials that are strategically important to electric vehicle, grid storage and consumer electronic batteries.

Nano One President and CEO, Leah Lawrence, said:

Sustainable Development Technology Canada is incredibly proud to support Nano One. Our mission is to help Canadian cleantech entrepreneurs move their ground-breaking technologies to commercialization by bridging the funding gap between research and market entry. Nano One’s battery materials pilot plant is the kind of technology that has the potential to generate jobs, growth and export opportunities, and to bring lasting economic, environmental and health benefits to Canadians and the world.

Click here for the full press release.

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Energy Fuels Inc. (TSX:EFR,NYSEMKT:UUUU) announced that it has entered into an Underwriting Agreement with a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation, Haywood Securities Inc. and Roth Capital Partners, LLC, under which the underwriters have agreed to buy on an underwritten basis 4,375,000 units, each Unit consisting of one common share and one half of one common share purchase warrant, at a price of US$2.40 per Unit for gross proceeds of US$10.5 million.

As quoted in the press release:

The current intention is to use the net proceeds of the Offering to:  (i) continue to fund wellfield construction at the Company’s Nichols Ranch Project in Wyoming; (ii) continue to finance the previously announced shaft sinking and evaluation at the Company’s high-grade Canyon mine project in Arizona; (iii) fund costs associated with the proposed acquisition of Mesteña Uranium, LLC announced earlier this week; (iv) fund the cash portion of the proposed acquisition of the remaining 40% of the Roca Honda Project announced last week; and (v) use any remaining funds for general corporate needs and working capital requirements.

Connect with Energy Fuels Inc. (TSX:EFR,NYSEMKT:UUUU) to receive an Investor Presentation.

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On Monday, Galaxy Resources (ASX:GXY) and its partner General Mining (ASX:GMM) announced a binding spodumene concentrate supply agreement with two Chinese buyers.

The companies have forward sold 60,000 tonnes of concentrate to be delivered in 2016 from the Mt Cattlin project in Western Australia. The concentrate has been priced at US$600 per tonne, freight on board, for a minimum of 5.5 percent lithium oxide. The sale, worth $36 million, includes a US$18-million prepayment due by March 31.

In total, Galaxy expects to produce 65,000 tonnes of lithium concentrate at Mt Cattlin this year.

On top of that, the Galaxy and General Mining will deliver a further 120,000 tonnes of lithium concentrate to the same buyers, with the sale price to be determined in Q4 2016.

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“These sales represent a tremendous step forward for the Mt Cattlin operation, and validate the work General Mining has done to re‐optimise the process flow sheet,” said General Mining Executive Chairman Michael Fotios in a statement. “The Company is very pleased that it has been rewarded for a careful and prudent approach to agreeing its maiden concentrate sales, and we look forward to long and successful relationships with our new customers.”

General Mining has an option to earn a 50-percent interest in the Mt Cattlin project. The company provided the capital for the restart capex and ramp up of operations at Mt Cattlin.

To be sure, analysts and market watchers are pleased with the news:

$GXY off-take agreements at significant premium to current spod pice plus advance payments. #benefittingfromshortage. #lithium

— Joe Lowry (@globallithium) March 8, 2016

Galaxy / General Mining agree at 60,000 tonne sale of 5.5% lithium spodumene concentrate at $600/tonne. 25% above market price. #China

— Simon Moores (@sdmoores) March 8, 2016

Galaxy / General Mining deal: 50% to be paid up front by two Chinese buyers. A further 120,000 tonne deal in the pipeline for Q4. #lithium

— Simon Moores (@sdmoores) March 8, 2016

Joe Lowry of Global Lithium has written extensively about the shortage of raw materials for lithium producers in China. Galaxy notes that increased demand from the electric vehicle sector and a push to combat pollution in China are expected to push lithium demand even higher. Meanwhile, demand growth from the battery sector for more traditional market segments, such as consumer electronics, also remains strong.

“We expect to continue to see strong growth in end user demand from a diverse range of end user applications,” said Galaxy Resources’ managing director, Anthony Tse, in a release. “[A]nd coupled with an ongoing limited response on the supply side for the near term, lithium feedstock will remain in very high demand, and as such pricing will also continue to be very robust going into 2017.”

The companies expect to make their maiden concentrate shipment in July or August of 2016. Shares of Galaxy have risen 32 percent, to $0.225, in the past five days, and are up 95.65 percent so far in 2016. General Mining has seen its share price gain 22 percent, to $0.35, in the past five days, and is up 37.25 percent so far this year.

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

Editorial Disclosure: Galaxy Resources is a client of the Investing News Network. This article is not paid-for content.

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Energy Fuels Inc. (TSX:EFR,NYSEMKT:UUUU) announced that it intends to file tonight a preliminary prospectus supplement in both Canada and the United States to its Canadian short form base shelf prospectus and its U.S. registration statement on Form F-10, both of which were filed on April 9, 2014, in connection with an overnight marketed public offering of units of the Company, with each Unit comprised of one common share of the Company and one-half of one common share purchase warrant.

As quoted in the press release:

The current intention is to use the net proceeds of the Offering to:  (i) continue to fund wellfield construction at the Company’s Nichols Ranch Project in Wyoming; (ii) continue to finance the previously announced shaft sinking and evaluation at the Company’s high-grade Canyon mine project in Arizona; (iii) fund costs associated with the proposed acquisition of Mesteña Uranium, LLC announced earlier this week; (iv) fund the cash portion of the proposed acquisition of the remaining 40% of the Roca Honda Project announced last week; and (v) use any remaining funds for general corporate needs and working capital requirements.

Connect with  Energy Fuels Inc. (TSX:EFR,NYSEMKT:UUUU) to receive an Investor Presentation.

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Nevada Sunrise Gold Corporation (TSXV:NEV) announced that it has arranged a non-brokered private placement of up to 2,500,000 units at a price of $0.20 per Unit for gross proceeds of up to $500,000.

Proceeds from the Offering will be used to fund the exploration of the Company’s Nevada lithium and precious metals properties, and as general working capital.

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

 

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Blackbird Energy Inc. (TSXV:BBI) announced a 522-percent increase in proven and probable reserves. They now stand at 6,484 MBOE (37 percent natural gas liquids).

Results are accurate as of January 31, 2016, and other highlights are as follows:

• Total proved plus probable reserves net present value increased 120% to $38.5 million before tax using forecast prices and costs, discounted at 10%. This significant increase in NPV10% is despite a material reduction in GLJ’s January 1, 2016 price forecast compared to their July 1, 2015 forecast.
• Total proved reserves increased 313% to 3,021 MBOE (38% NGLs).

Click here to read the full Blackbird Energy Inc. (TSXV:BBI) press release.

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NexGen Energy Ltd. (TSXV:NXE) released assay results for five angled holes completed as part of a winter 2016 drill program at its Athabasca Basin-based Rook 1 property.

Highlights include:

• AR-16-63c2 (19 m up-dip and to the southwest from AR-15-44b) intersected 42.0 m at 15.20% U3O8 (458.0 to 500.0 m) including 7.0 m at 52.91% U3O8 (488.5 to 495.5 m) and an additional 46.5 m at 12.99% U3O8 (503.5 to 550.0 m) including 4.0 m at 53.48% U3O8 (530.0 to 534.0 m).
• AR-16-64c2 (30 m up-dip and to the northeast from AR-15-44b) intersected 48.5 m at 11.15% U3O8 (491.0 to 539.5 m) including 3.0 m at 52.35% U3O8 (498.5 to 501.5 m).
• AR-16-64c1 (21 m up-dip and to the southwest from AR-15-49c2) intersected 48.5 m at 6.97% U3O8 (433.5 to 482.0 m) including 3.0 m at 52.13% U3O8 (469.0 to 472.0).
• AR-16-63c1 (7 m up-dip and to the northeast from AR-15-58c1) intersected 45.0 m at 4.51% U3O8 (432.5 to 477.5 m) including 8.0 m at 20.15% U3O8 (464.5 to 472.5 m).

Garrett Ainsworth, vice president, exploration and development at NexGen, commented:

The commencement of infill drilling of the higher grade A2 sub-zone has immediately returned five continuous GT’s ranging from 203 to 638 in four holes. These high grade assay intervals from holes AR-16-63c2 and -64c2 extend outside the current A2 high grade shell, on which the maiden NI43-101 inferred mineral resource was estimated as it only incorporates up to hole AR-15-62. Denser spaced drilling of the A2 sub-zone continues.

Click here to read the full NexGen Energy Ltd. (TSXV:NXE) press release.

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ALX Uranium Corp. (TSXV:AL,OTCQX:ALXEF) announced that it’s entered into an agreement with Holystone Energy Company Ltd. regarding a three-year strategic partnership.

As quoted in the press release:

This partnership will be the foundation for ALX to pursue a three year exploration strategy in the Athabasca Basin based on its current portfolio of properties, including its position in the Patterson Lake South district. It will also be the foundation to pursue new opportunities.

Under the terms of the agreement, Holystone will:

• subscribe to 12,500,000 common shares of ALX for a price of $0.06 per share for gross proceeds of $750,000. No Warrants.
• be granted by the Company the right for three years from closing of the private placement to participate in future financings for the next three years to maintain their pro-rata ownership interest in ALX.
• Appoint one representative to the Board of Directors of ALX, based on its intent to form a strategic funding partnership with ALX going forward.

Click here to read the full ALX Uranium Corp. (TSXV:AL,OTCQX:ALXEF) press release.

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Fission Uranium (TSX:FCU) announced drill results from a further 11 holes at its Triple R deposit, reporting that the strike length at the deposit has now increased to 2.53 kilometers.

As quoted in the press release:

Of key importance, hole PLS16-476 (line 915W), a 60m step out to the west of the recently-discovered high-grade R840W zone, has hit 38.8m mineralization and 1.44m of >10,000 cps. In addition, hole PLS16-462 (line 840W), also drilled on the new R840W zone, has intercepted71.5m total composite mineralization, including 3.44m of >10,000 cps.

PLS16-476 (line 915W) was a successful follow-up to a new exploration drilling approach using RC (reverse circulation) drills to allow for potentially low cost, high-efficiency exploration to evaluate, on a first pass basis, high-priority areas. PLS16-476 was testing such an area on the PLG-3B conductor.

Of further importance, hole PLS16-464 (line 1485E) has intercepted 53.0m total composite mineralization, including 11.31m of >10,000 cps. This is the strongest hole drilled to date on the expanding R1620E zone. With the intersection of anomalous radioactivity in PLS16-474 (line 1395E) the gap between The Triple R deposit and the R1620E zone has now narrowed to approximately 195m.

Nine holes were mineralized, with eight returning high-grade intervals. The high-grade R600W zone, the high-grade R1620E zone and the newly discovered High-Grade R840W zone have yet to be added to the Triple R deposit resource estimate. The mineralized trend at PLS, including the Triple R deposit, has now reached a total of 2.53km in length.

Fission President, COO and Chief Geologist, Ross McElroy, said:

This superb batch of drill results has delivered two major achievements: it substantially expands R840W – a high-grade zone we discovered last month at the westernmost end of the 2.53km mineralized trend – and it represents further high-grade growth of the R1620E zone towards the eastern end of the trend – a trend that is one of the longest lateral footprints in the Athabasca Basin region. This really is exceptional progress and our team is excited by the potential of both zones as we continue to move PLS forward.

Click here for the full press release.

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Toro Energy Limited (ASX:TOE) announced has received highly encouraging results from the geological modelling and mine planning studies currently underway at its 100% owned Wiluna Uranium Project.

As quoted in the press release:

Early results have shown that Wiluna, Australia’s most advanced uranium development project, can deliver an improved mining grade at significantly lower unit mining costs, leading to an improved set of project economics that could potentially accelerate mine development.

Pit design and inventory improvements have been driven by the 20% increase in mineral resources reported in October 2015 for Centipede and Millipede, the first two deposits to be mined at Wiluna. Encouraging results from the first phase of detailed optimisation studies at Centipede/Millipede include:

• A 12% increase in the grade of mining inventory material to above 1000ppm;
• A 31% decrease in the waste-to-ore strip ratio; and
• A 43% reduction in waste tonnes mined.

The mining inventory, including grades and contained U3O8, as well as volumes of material moved, are presented in Table 1. The increases to average mining grades, together with reductions in strip ratio and waste mined may have a material positive impact on the economics of Wiluna.

Toro Energy Managing Director, Dr Vanessa Guthrie, stated:

We know that Wiluna is one of the best and most advanced uranium developments in Australia, and this current phase of optimisation has shown us that there are significant opportunities to reduce the Wiluna cost base, bringing development closer as the current market recovery emerges.

These results show that Wiluna can produce uranium concentrate at lower overall costs. Based on these highly encouraging results we anticipate improvements in the head grade for the processing circuit leading to improved project economics. Having these results at Centipede/Millipede is particularly beneficial as these deposits are the basis of mining in the early years, which could make Wiluna even more attractive for development.

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Dajin Resources Corp. (TSXV:DJI,OTCMKTS:DJIFF) announced and update on the San Jose Project in Argentina.

As quoted in the press release:

Dajin Canada director Dr. Catherine Hickson and Dajin Argentina president Cosme Beccar-Varela recently completed a visit to Jujuy province in northwestern Argentina.

During Dr. Hickson’s visit to Argentina, meetings were held with several senior Argentine government officials including Daniel Meilan, Secretary of Mining, Ministry of Energy and Mining for Argentina, and Dr. Miguel Soler, Secretary of Mining, Ministry of Energy and Mining for Jujuy province. Dr. Hickson also met with the indigenous community of Inti Killa, Tres Morros, which is located on the Salinas Grandes in Jujuy province.

Dajin signed a co-operation agreement with the community of Tres Morros, represented by Andres Castillo, to provide support during the exploration phase of the San Jose project. All parties present were satisfied with the results of this meeting and look optimistically to advancing the exploration program.

Dr. Hickson wishes to announce that Dr. Beatriz Coira, a respected geologist with international experience and based in Jujuy, has agreed to join Dajin’s technical advisory board. Dr. Coira has been studying tectonics, volcanology, geothermal and mining resources in the Puna region of Argentina for many years. She will provide Dajin with a valuable and important link to historical work in the Puna region in addition to her continuing research with the National Science and Technical Research Council of Argentina.

Connect with Dajin Resources Corp. (TSXV:DJI,OTCMKTS:DJIFF) to receive an Investor Presentation.

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Nevada Energy Metals (TSXV:BFF) announced their common shares are accepted for continuous trading on the electronic trading platform Xetra on the Frankfurt Stock Exchange under the ticker symbol 2AFBV with ISIN CA64130N1087.

BankM helped facilitate the Xetra listing and will also act as Nevada Energy Metals’ designated sponsor on the electronic trading platform. Designated sponsors secure higher liquidity and a better pricing by quoting binding bid/offer prices with a tight spread, and enable the trading on the electronic platform Xetra of Deutsche Borse AG.

Nevada Energy Metals CEO, Harry Bar, stated:

We are pleased to have our company accepted for trading on the Xetra electronic platform. Germany has been a robust market for retail and institutional investors who follow the mining and exploration industry. Our objective is to continue to broaden our shareholder base in Europe.

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

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On February 22, Lithium Australia (ASX:LIT) reported that it had achieved a significant breakthrough in the development of its Sileach process for the recovery of lithium from spodumene.

The company stated that independent laboratory tests of its hydrometallurgical process had achieved lithium extractions of 92 percent in four hours from alpha spodumene. That’s key, since the process cuts out the need for roasting spodumene, one of the highest cost and most energy intensive parts of the process.

Lithium Australia anticipates that the process may also be used for other lithium silicate ores.

To get a bit more insight into the process, the Investing News Network got in touch with Adrian Griffin, managing director of Lithium Australia. Below, he speaks about how the Sileach process works, about what Tuesday’s announcement means for the company and about what the next steps will be in the development of Sileach.

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INN: What is most important for investors to note about the Sileach process?

AG: The process has broad applicability to all silicates and consequently can recover lithium from micas, clays, spodumene, and some of the more exotic minerals such as jadarite. The ability to do this without roasting, is a first for most of these mineral species, and has the potential to significantly reduce the cost of producing lithium chemicals, from spodumene in particular.

INN: What is the estimated cost of extraction? How does that compare to other lithium extraction methods from spodumene?

AG: The biggest cost of recovering lithium chemicals from spodumene, by conventional means, is the energy required for roasting. This requires very high temperatures, that need to be maintained for long periods of time to make the spodumene reactive. We have removed all of the energy requirements from the process, which is done in aqueous solution, at low temperature, and atmospheric pressure. We can also recover some of the other chemical components of the spodumene as by-products creating addition operating cost credits. Our aim is to halve the operating cost of producing lithium carbonate from spodumene.

The reduction of costs, makes material available for processing, that in the past may not have been considered ore. This includes lower grade and contaminated spodumene that may be in dumps and tailings dams and it includes all silicates, not just spodumene.

INN: Sileach achieves lithium extraction of up to 92 percent in four hours from alpha spodumene. How does that compare to other lithium extraction methods from Spodumene?

AG: Extraction of lithium with conventional [methods] is comparable to Sileach. However the conventional process is complicated, requiring roasting at over 1000 degrees Celsius to convert alpha spodumene to beta spodumene, making it susceptible to acid attack. The product is then cooled to a few hundred degrees and leached with sulphuric acid. This complicated flowsheet has a long total residence time. With Sileach, the dissolution of alpha spodumene is complete in a few hours, and that is the rate determining step for the whole process.

INN: What does this mean for Lithium Australia?

AG: This provides Lithium Australia with access to technology capable of recovering lithium from conventional sources (spodumene) far more cheaply than its competitors. It will give access to waste streams and lower grade materials not previously considered ore. We had previously done a lot of work on the recovery of lithium from micas to achieve a similar outcome, but this adds another dimension to the processing of lithium silicates. It will provide Lithium Australia with first mover advantage, and reduce our reliance on third party technologies.

INN: How have your shareholders reacted to the news?

AG: The shareholders are ecstatic and can now see our bigger plan unfolding. It is not only shareholders that have reacted, but we have had a strong response from companies with access to spodumene occurrences that may otherwise stay in the ground, and also from operators with previously uneconomic material locked up in tailings dams. The Sileach™ process provides the ability to capitalize on stranded lithium feed sources, turning waste into ore.

INN: What steps will Lithium Australia take next with regards to the development of the Sileach process?

AG: We will be testing a range of ores with a variety of mineralogy, primarily focused on lithium however we will look at a number of other valuable metals as well. Our main near term goal is piloting at a reasonable scale, using commercial equipment, to prove the veracity of the process and this is likely to be done on both spodumene and lithium micas.

INN: Anything else you would like to add?

AG: One of the great evolutions in mineral processing was the advent of froth flotation. That started with a miners wife washing a pair of overalls and watching the sulphides float on the soap suds. Commercialization of the process enabled lead to be separated from zinc, turning the massive waste dumps, which surrounded Broken Hill in the early 1900s, into the world’s most lucrative ore. In a similar manner, Sileach™ can provide a new era of cheap lithium feed stocks, and reduce the processing cost of newly mined ores. Sileach™ may have a similar impact on the lithium industry as froth flotation had on the base metals industry. Commercialization of the process may well see the cost of producing lithium chemicals from hard rock compete on a level playing field with the low-cost brine producers of South America.

INN: Thank you Adrian.

AG: Thank you.

 

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.

Lithium Australia is a client of the Investing News Network. This article is not paid for content

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On Monday, shares of Nemaska Lithium (TSXV:NMX) were up as much as 11 cents on Monday to $0.60 on the Toronto Venture exchange.

The company’s share price closed up 20.83 percent at $0.58. 2.68 million shares of the lithium developer traded hands, compared to the company’s daily average of 597,436.

On the OTC, Nemaska gained 12.84 percent, also on high volume.

It’s unclear what led to the rise in Nemaska’s share price on on Monday. The latest insider filing was from Steve Nadeau, CFO of Nemaska, who acquired 5,568 shares of the company on the open market at $0.375 on February 16. The most recent news from Nemaska came on February 25, when the company was ranked as one of the top companies on the TSX Venture 50.

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Certainly, interest in the lithium space has only been growing, and Nemaska wasn’t the only lithium junior to see a jump in share price on Monday. Stria Lithium (TSXV:SRA) was up 50 percent to $0.045 per share. Pure Energy Minerals (TSXV:PE) also saw its shares spike recently.

Nemaska Lithium is currently developing its Quebec-based Whabouchi lithium project, and ultimately plans to produce spodumene concentrate there, then transform that material into high-purity lithium hydroxide and lithium carbonate that it can sell to lithium-ion battery producers.

Earlier this month, the company released an update on the construction of its Phase 1 lithium hydroxide plant. Construction is expected to start this quarter and finish in Q4 2016; the plant is slated to produce 500 tonnes per year of high-purity lithium hydroxide.

Nemaska is currently exhibiting at this year’s Prospectors & Developers Association of Canada conference (PDAC). Shares of the company have gained 31.82 percent on the TSXV so far in 2015 and 231.43 percent over the past year.

 

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

Editorial Disclosure: Nemaska Lithium is a client of the Investing News Network. This article is not paid-for content.

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Leading US uranium producer, Energy Fuels (TSX:EFR, NYSEMKT:UUUU) kicked off the first full week of March with the announcement of its acquisition of Mesteña, a well-known, closely-held uranium producer that operates the Alta Mesa ISR project in Texas.

For investors unfamiliar with Mesteña’s Alta Mesa project, it is a fully-permitted and constructed in situ recovery operation, complete with processing facility, and a well-established track record of lower cost uranium production. The Alta Mesa operation brings with it a large land package, totaling 195,501 contiguous acres, including 4,575 acres currently under a lease and mining permit. The remaining 190,926 acres are under a lease-option and exploration/testing permit.

Between October 2005 and November 2013, Alta Mesa produced a total of 4.6 million pounds of uranium. As a past producing project, Alta Mesa is currently on standby, ready to be restarted once the uranium market starts moving in a more positive direction.

To facilitate the transaction, Energy Fuels will issue roughly 4.5 million shares to the current owners of Mesteña. The transaction is expected to close on May 4, 2016.

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Adding to the low cost production profile

Energy Fuels has had a long standing position as the only conventional uranium producer in the United States. The company has benefited greatly from a portfolio of conventional uranium projects in  Wyoming, Utah and Arizona. However, given the sluggish nature of the uranium market, the company has turned to diversifying its uranium asset base.

In June of 2015, Energy Fuels made its first acquisition in the ISR uranium space through the purchase of Uranerz. The acquisition provided the company with access to the newly minted producing Nichols Ranch ISR mine. Now with the acquisition of Mesteña, Energy Fuels has created significant value for shareholders.

“Most importantly, the Alta Mesa Project is fully-permitted and constructed, and ready to go into production within a short period of time.” Stephen Antony, CEO of Energy Fuels said in a company statement.

“This mine definitely produced on the lower end of the global cost curve,” the CEO Antony told BNN.

Energy Fuels increases interest in Roca Honda

Apart from the acquisition of Mesteña, Energy Fuels also announced on March 4 that it had entered into a non-binding letter of intent with Sumitomo Corporation to acquire its 40 percent interest in the Roca Honda project.

Roca Honda, as investors may be aware, is one of the largest and highest grade uranium projects in the US. With the increase of 40 percent, the company will become a 100% owner of Roca Honda, which boasts also boasts an attractive cost profile and a total expected production of 25 million pounds of uranium for the project’s 9 year mine life.

“With the expected acquisition of the remaining interest in the Roca Honda Project from Sumitomo, we will have obtained 100% control over a World-class uranium project in the advanced stages of permitting.  This is particularly valuable to us, because we also own the only operating mill that can produce the uranium extracted from the Roca Honda Project.” Antony said in a statement.

Bottom line

“We have an array of projects. And that’s one thing that makes Energy Fuels different.” Antony said on BNN.

Indeed, with the largest 43-101 compliant resource in the US, spread over several production sources, the company is stacking the deck in its favor.

Unfortunately, like many other players in the sector, the depressed uranium price has left many companies’ share price, Energy Fuels included, battered and bruised. However, as the only conventional and ISR producer in the United States, the company is ready for when the market finally does pick up.

On the back of the acquisition news, Energy Fuels saw its share price increase by 4.85 percent to end the day at $3.89.

 

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

Energy Fuels is a client of the Investing News Network. This article is not paid-for content

The post Energy Fuels Increases Stake in Lower-Cost ISR Uranium Production with Mestena Uranium Acquistion appeared first on Investing News Network.

Galaxy Resources Limited (ASX:GXY) announced it has forward sold 60,000 tonnes of lithium concentrate from the Mt Cattlin project in Ravensthorpe, Western Australia, for US$600 per tonne to two China-based buyers.  

As quoted in the press release:

Highlights

• Binding agreements signed with major Chinese customers
• 60,000 tonnes of lithium concentrate sold for 2016 delivery at US$600/t (FOB)
• Prepayment of 50% of total order value (US$18m) to be paid in cash, before 31 March 2016
• Binding commitment to purchase 120,000 tonnes for 2017, delivery subject to final price to be agreed during Q4 2016
• Total expected 2016 production at a minimum of 65,000 tonnes
• Maiden shipment July / August 2016

GXY and GMM have also agreed to deliver 120,000 tonnes of lithium concentrate in 2017 to the same Chinese customers at a sale price to be agreed during Q4 2016, based upon prevailing market conditions at that time.

This sale of 60,000 tonnes of lithium concentrate has been targeted at converters in the lithium carbonate and lithium hydroxide market. It is intended that the balance of any additional and future production will be sold to a range of downstream converters, including lithium carbonate, lithium hydroxide and cathode markets.

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

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