Visual Capitalist published an infographic that looks at what Tesla Motors Inc.’s (NASDAQ:TSLA) Model S is made of. Put simply, it includes “an extraordinary amount of raw materials.”

View the infographic below, or click here to see it on Visual Capitalist’s website:

The post Infographic: What’s in a Tesla Model S? appeared first on Investing News Network.

This year’s Prospectors & Developers Association of Canada conference, better known as PDAC, is in full swing, and it’s brought the usual onslaught of news from companies attending. 

Monday, the second day of the event, has brought a slew of mergers and acquisitions (M&A), largely in the gold space. Read on to learn which companies are buying (and which companies are being bought) — and be sure to check out the Investing News Network’s guide to events at PDAC.

Silver Standard to buy Claude Resources

First on the list is Silver Standard (TSX:SSO,NASDAQ:SSRI), which has entered into a definitive agreement to buy all of Claude Resources’ (TSX:CRJ) issued and outstanding shares. The implied equity valuation for Claude clocks in at C$337 million, and the deal represents a premium of about 25 percent based on the 20-day volume-weighted average prices of Silver Standard and Claude.

According to the company, the transaction will “create a high-quality intermediate precious metals producer with assets in the Americas.” More specifically, Silver Standard will gain Claude’s Santoy and Seabee gold mine complexes, as well as its Amisk gold project. All are located in Saskatchewan.

Get Our Expert Guide to Uranium Investing FREE!   Download this FREE Special Report, Uranium Future Outlook: Uranium Price Forecasts and Top Uranium Stocks to Watch

At 2:05 p.m. EST on Monday, Silver Standard’s share price was at $7.93 on the TSX, down 11.2 percent; Claude’s was at $1.43 on the exchange, up 12.6 percent. Claude’s share price is up 175 percent in the last year, and it was the top-gaining resource stock on the TSX in 2015.

Energy Fuels to buy Mestena Uranium

Next up is Energy Fuels (TSX:EFR,NYSEMKT:UUUU), which has entered into a definitive agreement to acquire Mestena Uranium by issuing 4,551,284 common shares of Energy Fuels to the owners of Mestena.

Privately owned Mestena Uranium’s key asset is the fully permitted and constructed Alta Mesa ISR operation and processing facility. It is currently on standby and ready to resume production, and has “a well-established track record of lower cost uranium production.” Energy Fuels sees the facility ultimately bumping its licensed processing capacity up to 11.5 million pounds of uranium a year.

As of 2:08 p.m. EST on Monday, Energy Fuels’ share price was sitting at $3.90 on the TSX, up $5.12 percent.

First Mining Finance to buy Pitt gold property

Unlike Silver Standard and Energy Fuels, First Mining Finance (TSXV:FF) is buying a property, not an entire company. The company will pay an aggregate purchase price of C$1.25 million to acquire the Pitt gold property from Brionor Resources (TSXV:BNR). Of that amount, C$1 million will be satisfied through the issuance of 2,535,293 First Mining shares to Brionor; the remainder will be paid in cash.

Pitt is located in Quebec’s Abitibi Region, and is adjacent to Clifton Star Resources’ (TSXV:CFO) Duparquet and Duquesne gold properties. First Mining recently announced plans to acquire Clifton Star, and sees the Pitt deal complementing that purchase.

At 2:09 p.m. EST on Monday, First Mining’s share price was up 3.85 percent on the TSXV, at $0.405; Brionor’s was up 33.33 percent on the exchange, at $0.02.

Did we miss any M&A deals seen at PDAC on Monday? Let us know in the comments!

 

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

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

Related reading: 

PDAC 2016: Here’s What You Need to Know

The post M&A Heats Up at PDAC appeared first on Investing News Network.

Eureka Resources (TSXV:EUK) announced plans to raise up to $400,000 by way of a non-brokered private placement.

The private placement will be comprised of a minimum of 2,666,667 units at $0.075 per unit for gross proceeds of $200,000 and a maximum of 5,333,333 units at $0.075 per unit for gross proceeds of up to $400,000. Each unit will be comprised of one common share and one share purchase warrant entitling the holder to acquire an additional common share at $0.125 per share for two years from closing.

The proceeds from private placement will be used for acquisition and exploration costs on the Company’s Gemini Lithium Project, for costs of the offering and for working capital.

Connect with Eureka Resources (TSXV:EUK) to receive an Investor Presentation.

The post Eureka Resources Arranges $400,000 Private Placement appeared first on Investing News Network.

Reuters reported that oil prices have broken above US$40 to hit their highest in 2016.

As quoted in the market news:

Global crude prices have risen more than 40 per cent since two months ago when they hit 12-year lows. Monday’s gains were helped by data showing a smaller-than-expected build in stockpiles at the Cushing, Oklahoma delivery hub for U.S. crude futures and talk that OPEC was looking at a $50 bottom.

Click here for the full article.

The post Oil Hits Highest Price So Far in 2016 appeared first on Investing News Network.

Natural gas prices were on the rise on Monday on the back of expectations that less drilling would lead to a decline in production, the Wall Street Journal reported.

As quoted in the publication:

Natural gas futures for April delivery recently rose 5.8 cents, or 3.5%, to $1.724 a million British thermal units on the New York Mercantile Exchange.

Prices plunged to 17-year lows last week as the surplus of natural gas grew due to robust production and sluggish demand. Temperatures have been warmer-than-normal across much of the U.S., limiting the use of natural gas as an indoor-heating fuel.

Click here for the full press release.

Get Our Expert Guide to Oil Investing FREE! Download this FREE Special Report, Oil Investing: Oil Price Forecast and Oil Deposits Around the World

The post Natural Gas Prices on the Rise on Monday appeared first on Investing News Network.

Chilean mining minister Aurora Williams has said the country would not block a foreign takeover of SQM (NYSE:SQM), one of the world’s most significant lithium and potash producers. Indirect shareholder Oro Blanco is offering up its entire 88 percent holding in Pampa Calichera, which owns roughly 20 percent of SQM.

As quoted in the press release:

“Those are decisions to be made specifically by the company,” Williams said in an interview through an interpreter in Toronto during the annual Prospectors & Developers Association of Canada (PDAC) convention.

“In no way would we indicate to them or give our intentions as to how the company should be structured.”

The sale process comes after Julio Ponce, a former son-in-law of late dictator Augusto Pinochet, was forced to resign as SQM chairman last year after two separate scandals.

Click here to read the full press release.

Get Our Expert Guide to Potash Investing FREE!   Download this FREE Special Report, What is Potash? From Types of Potash to Potash Stocks

The post Chile Won’t Block Sale of Stake in SQM to Foreign Investors appeared first on Investing News Network.

Neometals (ASX:NMT) has executed a binding termsheet to divest its Forrestania nickel assets via the sale of its subsidiary company to Hannans Reward Limited.

As quoted in the press release:

As part of the divestment, Neometals has also agreed to a placement of $250,000 worth of HNR shares at 0.4c per share (approximately 8% of HNR’s issued capital). The placement subscription will be eligible for a 1 for 2 free attaching option (exercisable at 0.4c within 2 years). Under the terms of the transaction for the sale of REX:

1. Hannans will undertake a capital raising of $1.25 million from its shareholders. In addition to its upfront $250,000 subscription, Neometals has agreed to underwrite the last $250,000 of the Hannans’ capital raising;

2. Neometals is contributing a maximum of $1.25 million cash, through the placement, underwriting and the cash assets of REX at completion;

3. Neometals will hold approximately 40% of the issued capital in Hannans at completion, on an undiluted basis;

4. Hannans will divest its Swedish projects via an in specie distribution of the shares in its subsidiary company Scandinavian Resources Pty Ltd (“Scandinavian Resources”) to shareholders of which Neometals will receive at least 13.5%;

5. Neometals will assist Scandinavian Resources to realise lithium, cobalt and carbon opportunities in Scandinavia through a technical assistance arrangement; and

6. the Hannans board will be re-constituted to comprise of two existing Hannans directors and one director nominated by Neometals

Click here for the full press release.

The post Neometals Divests Non-core Nickel Assets appeared first on Investing News Network.

Energy Fuels Inc. (TSX:EFR,NYSEMKT:UUUU) announced that it has entered into a definitive agreement to acquire Mesteña Uranium, LLC, a well-known, closely-held uranium producer that operates the Alta Mesa ISR Project located in Brooks and Jim Hogg Counties, Texas.

As quoted in the press release:

Transaction Highlights

• Acquisition of Mesteña will further cement Energy Fuels’ position as the dominant integrated uranium producer in the U.S.
• Alta Mesa is a fully-permitted and constructed in situ recovery (“ISR”) operation and processing facility, with a well-established track record of lower cost uranium production.
• Alta Mesa will diversify Energy Fuels’ operations into a 3^rd production center, along with the Nichols Ranch ISR Project (Wyoming) and the White Mesa Mill (Utah).
• Fully-licensed and constructed ISR processing facility that has an operating capacity of 1.5 million pounds of uranium per year.
• Alta Mesa is currently on standby and ready to resume production, as market conditions warrant.  It can reach commercial production levels with limited required capital within six months of a production decision.
• Control of a large land package totaling 195,501 contiguous acres, including 4,575-acres currently under a lease and mining permit and 190,926-acres under a lease-option and exploration/testing permit.
• Mesteña has extensive exploration results across the area that have identified significant uranium resources that Energy Fuels expects can be recovered at lower costs, as market conditions warrant.
• Between Alta Mesa, Nichols Ranch, and the White Mesa Mill, Energy Fuels’ licensed processing capacity will exceed 11.5 million pounds of uranium per year.
• Alta Mesa produced a total of 4.6 million pounds of uranium between October 2005 and November 2013, including 1 million pounds of uranium per year over a two year period.
• Mesteña’s operations are located on private land, with 100% of minerals owned in fee, and in a supportive jurisdiction with primary regulatory authority residing with the State of Texas.
• With low holding costs, Mesteña provides fully permitted lower-cost production scalability that can be brought into production as uranium prices improve, thereby improving Energy Fuels’ ability to respond to improvements in market conditions and at lower prices.

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

Since we acquired Uranerz Energy Corporation in June 2015, Energy Fuels has not only added uranium production at the lower end of our cost curve, we’ve also gained valuable experience in the ISR uranium business.  Mesteña is well-known within the U.S. nuclear industry and has an impressive record of recent production.  Most importantly, the Alta Mesa Project is fully-permitted and constructed, and ready to go into production within a short period of time.  We believe this transaction creates significant value for our shareholders, as we are acquiring operational processing facilities and permitted resources, which would otherwise take many years and tens of millions of dollars to permit and construct ourselves.  I should also mention that our current Executive Vice President of ISR Operations in Wyoming, Paul Goranson, oversaw the Alta Mesa Project for several years.  He has intimate knowledge of the operations, including its costs, production profile and in-ground uranium resources.  In my view, Mesteña was the next logical acquisition in growing Energy Fuels’ ISR capability.  We look forward to closing the transaction within the next few months.

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

The post Energy Fuels to Increase Lower-Cost ISR Uranium Production Profile through Acquisition of Mesteña Uranium appeared first on Investing News Network.

Forum Uranium Corp. (TSXV:FDC) announced that drilling has commenced on its 100% owned Highrock project, located approximately 15 km south of the Key Lake mine and mill site.

As quoted in the press release:

An eight hole – 1,500 metre drill program will test several shallow, basement hosted uranium targets. The Highrock claims lie just outside the southern edge of the Athabasca Basin where high grade, basement hosted deposits such as Fission’s Triple R deposit can be found at shallow depths. Infrastructure in the Highrock area is excellent and includes a nearby all-weather road and powerline to the Key Lake mill site, approximately 10km west of the properties.

Positive gravity survey results from earlier programs completed on the Highrock North and Highrock South claims identified a number of gravity lows, which may be indicative of zones of alteration, clay development and uranium mineralization along very strong electromagenetic (EM) conductors on the property (Figure 2). The combination of gravity low anomalies in conjunction with EM anomalies has proven to be a very successful exploration technique on Forum’s Northwest Athabasca Joint Venture and in the discovery of the Arrow deposit by NexGen Energy Ltd.

Forum Uranium Vice President, Exploration, Ken Wheatley, stated:

This strong conductive trend, which we interpret to be the same basal graphitic unit that hosted the 200 million pound Key Lake uranium deposit, coupled with the quality of the gravity lows, make this area a high priority, near surface exploration target.

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

The post Forum Uranium Commences Drilling at Highrock Project appeared first on Investing News Network.

Last week brought a strong performance from the S&P/TSX Venture Composite index (INDEXTSI:JX), which gained 4.52 percent to reach 562.38 points. 

Year-to-date, the Venture is up 7 percent. Some analysts believe that the gold price has entered bull market territory, with silver, copper and oil prices also faring well last week.

Taking a look at the top-gaining stocks from the mining sector, NexGen Energy (TSXV:NXE) was the top stock, and it was followed by Mitra Energy (TSXV:MTE), Focus Graphite (TSXV:FMS), Lupaka Gold (TSXV:LPK) and Largo Resources (TSXV:LGO).

NexGen Energy

Last week, NexGen Energy saw its share price rise 106.67 percent, to $1.28, following the release of a maiden resource estimate for its Arrow deposit in Saskatchewan’s Athabasca Basin. With an inferred resource of 201.9 million pounds of contained uranium in 3.48 million tonnes of mineralization grading 2.63 percent U3O8, Arrow is now the world’s largest undeveloped high-grade uranium deposit.

Who Might Be Tesla’s Graphite Supplier?   Get the professionals’ forecasts for graphite in this exclusive report:  Graphite Mining in the US: Best Graphite Stocks

For his part, Raymond James analyst David Sadowski called Arrow the “best uranium discovery of the past 25 years.”

Mitra Energy

Shares of oil- and gas-focused Mitra Energy gained 83.33 percent last week to close at $0.28. On January 14, the company provided an update on the status of its gas development project in Vietnam, reporting on its steady progress towards the commercialization of its first gas fields in the region. However, there has been no further recent news from the company that would explain last week’s price rise.

Focus Graphite

Focus Graphite was up 71.43 percent last week to end at $0.12. The company is focused on advancing its Lac Knife graphite project in Quebec.

There was no news from Focus that would explain last week’s rise in share price. However, Focus CEO and Director Gary Economo was recently interviewed regarding Focus and the graphite market.

Lupaka Gold

Lupaka is focused on exploring for and developing gold projects in Peru. The company currently has three projects in the country at varying stages of exploration, but earlier this year it said that its priority is the development and commissioning of a contract mining operation at the Invicta project.

On February 22, the company closed a private placement for gross proceeds of $419,500, and reported positive results from a second round of run-of-mine bulk sample testing at Invicta. However, there has been no further news to explain the company’s rise in share price. Lupaka was up 66.67 percent last week to finish at $0.13 per share.

Largo Resources

Rounding out the top five is Brazil-focused vanadium miner Largo Resources, which was able to restructure its debt with a consortium of Brazilian commercial banks. The company also announced last Wednesday that it has closed the second and final tranche of a previously announced private placement for US$26.8 million. Shares of Largo Resources were up 61.76 percent at the end of last week, trading at $0.28.

 

Data for 5 Top TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

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

Related reading:

5 Top TSXV Stocks: Rusoro Mining Gains 40 Percent

5 Top TSXV Stocks: Musgrove Minerals Gains 200 Percent

5 Top TSXV Stocks: Clifton Star Rockets on First Mining Finance Deal

5 Top TSXV Stocks: Energold Drilling Up 62.96 Percent

5 Top TSXV Stocks: Canasil Resources Up 227 Percent on Silver Discovery

The post 5 Top TSXV Stocks: NexGen Energy Rises Over 100 Percent on Arrow News appeared first on Investing News Network.

The gold price climbed this week, peaking Friday at $1,271.76 per ounce. That’s its highest level since February 2015. 

While that’s great news for gold bugs, what’s perhaps more interesting is that it’s not just this week that’s been positive for the yellow metal. In fact, according to the Financial Times, gold is currently enjoying its best start to the year since 1980. What’s more, it’s risen 21.8 percent since its December low, meaning that it’s in bull market territory for the first time since 2013.

In terms of what’s driving the gold price, one analyst aptly told Kitco that an “explosive cocktail” of factors are pushing the metal up. However, at the moment, it seems like investor buying is its main driver — data from Bank of America Merrill Lynch shows that gold funds are seeing their biggest inflows in seven years, with $7.9 billion entering such funds in the last four weeks.

Updated December 2015 Get Our Expert Guide to Copper Investing FREE! Download this FREE Special Report, From LME Copper to Copper ETFs: Understanding Today’s Copper Price for Investing in Copper.

Encouragingly, many market watchers think that gold’s momentum will continue. Notably, Kitco quotes Bart Melek, head of commodity strategy at TD Securities, as saying that gold looks set to hit his firm’s Q1 price target of $1,300. “There are many reasons to think that gold will rally to $1,300,” he said.

For its part, the silver price also climbed this week, and peaked Friday at 11:00 a.m. EST at $15.74 per ounce.

On the base metals side, Reuters states that benchmark LME copper rose 3.5 percent on Friday to close at $5,027 per tonne. Prior to that it hit $5,059, its highest level since last November. Overall, benchmark LME copper has made a weekly gain of 7 percent, its largest since December 2011.

Explaining copper’s positive performance, one trader told Reuters that a lower US dollar (caused by strong US jobs data released Friday) prompted “a scramble by funds to buy copper and triggered pre-set buy orders after copper broke through key levels.” He added, “[u]pside momentum is keeping the buy signal going. It’s nearly all fund buying — both short-covering and fresh longs.”

Oil prices were also pushed up by Friday’s US jobs data, with Brent futures rising $1.58 to reach $38.65 per barrel at 1:49 p.m. EST. According to another Reuters article, Brent futures are set to make an impressive weekly gain of about 10 percent. Meanwhile, US crude futures were up $1.29, at $35.88; similarly, they’re set to make a weekly gain of about 9 percent.

 

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

Related reading: 

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

Weekly Round-Up: Gold to Make Biggest Monthly Gain in a Year?

The post Weekly Round-Up: Gold Enters Bull Market Territory appeared first on Investing News Network.

Orocobre (ASX:ORE) produced 761 tonnes of lithium carbonate in February at its Olaroz lithium facility in Argentina. The company’s internal target had been set at 725 tonnes for the month. Orocobre’s quarterly production target of 2,400 tonnes remains unchanged.

As quoted in the press release, Orocobre managing director Richard Seville said:

We are pleased with the continued improvement and above target performance for February and we look forward to achieving our quarterly production target.

Click here for the full press release.

Get Our Expert Guide to Lithium Investing FREE! Download this FREE Special Report, Investing in Lithium Stocks Post Rockwood Lithium Sponsored by Dajin Resources Corp.

 

The post Orocobre Produces 761 Tonnes of Lithium Carbonate at Olaroz in February appeared first on Investing News Network.

Nevada Sunrise Gold Corporation (TSXV:NEV) announced it has entered into an interim agreement with Resolve Ventures Inc. of Vancouver, BC, Canada, for Resolve to earn up to a 50% working interest in the Neptune lithium property. Neptune consists of a block of 316 unpatented placer claims totaling approximately 6,320 acres (2,557 hectares) located in the Clayton Valley, Esmeralda County, Nevada, USA, approximately 10 miles (15 kilometres) south of the Silver Peak lithium mine, operated by Albemarle Corp.

As quoted in the press release:

The Agreement with Nevada Sunrise grants Resolve the right to earn up to a 50% interest in the Company’s interest in Neptune. Nevada Sunrise holds an option to acquire a 100% interest in the Property pursuant to an option agreement with the property owners. Neptune is subject to a 3% gross overriding royalty (the “Royalty”) in favour of the current owners of the Property. The parties expect to negotiate a more comprehensive “definitive agreement”, which will supersede the Agreement.

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

The post Nevada Sunrise Options Neptune Lithium Property in Nevada appeared first on Investing News Network.

Denison Mines Corp.(TSX:DML, NYSE MKT:DNN) announced that its wholly owned subsidiary, Denison Mines Inc., has entered into a new three year agreement to provide management services to Uranium Participation Corporation (TSX:U). The MSA will take effect on April 1, 2016, at the conclusion of the current MSA between UPC and Denison.

Under the terms of the MSA:

UPC appoints Denison to act as the manager of the Corporation and grants the Manager the authority and responsibility to manage and administer the business and affairs of UPC, subject to the oversight and applicable approvals from the Board of Directors. The Manager is responsible for providing the Corporation with a Chief Executive Officer (“CEO”), Chief Financial Officer (“CFO”) and Corporate Secretary, as well as any other position necessary to carry out its responsibilities for the administration and oversight of UPC’s uranium inventories, as well as UPC’s financial reporting, investor relations and marketing activities.

According to David Cates, CEO of Denison:

Denison is very pleased to have reached an agreement with UPC to continue as the company’s Manager for another three years. We are proud of the relationship that Denison has nurtured with UPC, since UPC’s inception, and we look forward to continuing to represent UPC and the entire uranium industry in the coming years. We believe there is a bright future for nuclear energy and the uranium industry and we are honoured to act as a steward for both UPC and the industry.

Click here to view the full press release. 

The post Denison Announces Execution of Three Year Management Services Agreement With Uranium Participation Corporation appeared first on Investing News Network.

Lithium Australia NL (ASX:LIT) announced that recent fieldwork has identified an Exploration Target*1 of 525,00t to 1,281,000t and grade range of 0.8% – 1.2%) at the southern end of the Company’s 100%-owned Ravensthorpe lithium project, west of Esperance in southern Western Australia.

As quoted in the press release:

HIGHLIGHTS:

• Lithium Australia defines two key areas for first drilling on southern portion of its lithium prospective Ravensthorpe tenements, west of Esperance in Western Australia
• LIT defines an exploration target* of lithium mineralisation at a minimum grade of 1% Li₂O (with a size range from 525,00t to 1,281,000t and grade range of 0.8% – 1.2%)
• Main focus is the Horseshoe #1 and Horseshoe #2 pegmatites (the primary source rock for lithium)
• Maiden drill program of up to 35 drill-holes scheduled once approvals confirmed
• Horseshoe is just kilometres from Galaxy-General Mining’s commissioning Mt Cattlin lithium mine

PLANNED DRILLING

A maiden drilling program of up to 35 holes has been scheduled for Horseshoe and is expected to commence by October once work permits have been approved.

Recent field work has confirmed the significance of the size of the Horseshoe prospect, its numerous lepidolite outcrops (lithium hosting micas), and its shallow dip with minimal overburden overlying the zone of lithium mineralisation.

The focus of the maiden drilling will be an area 650 metres long (Figure 2) containing the northern part of the large 950 metres long and 25 metres thick Horseshoe #1 pegmatite and the adjacent 250 metres long, 25-35 metres thick Horseshoe #2 pegmatite.

Figure 2: Plan-view of LIT’s Horseshoe Prospect. Note that the areas of lepidolite-rich rock depicted are only those of the Horseshoe Prospect, as they are the ones to be tested by drilling.

Lithium Australia Managing Director, Adrian Griffin, stated:

It is indeed significant that so much un-touched lithium mineralization is sitting on the surface, within kilometres of the Galaxy-General Mining lithium operations. The more we look, the more of these less-common lithium minerals we find, and what has been the constraint to adding them to inventory? It has been the cost of processing. The Sileach™ process puts an end to the energy intensive process of roasting to recover lithium from silicates. Lithium Australia can used its 100% owned Sileach™ process to recover lithium from all lithium silicates, including spodumene.

Lithium Australia plans to use the Sileach™ process to unlock stranded lithium deposits on a global basis. Sileach™ is the start of a processing revolution that will lower the cost curve for the production of lithium chemicals from spodumene, and open the door for the less conventional mica deposits. We see the cost of hard rock lithium chemical production rivalling that of the low-cost the brine producers and we have the technology to make that happen. The Horseshoe Pegmatite is a great example and I look forward to the forthcoming exploration campaign.

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

The post Lithium Australia Announce Exploration Target and Drill Schedule for Ravensthorpe appeared first on Investing News Network.

Houston Lake Mining Inc. (TSXV:HLM) announced a Canadian National Instrument (N.I.) 43-101 mineral resource estimate for the PAK Lithium Project, located in northwestern, Ontario. The resource estimation has been prepared by WSP Canada Inc., a Montreal-based firm. WSP is one of the largest engineering firms in Canada and has a mining division maintaining independent consulting geologists and engineers.

As quoted in the press release:

Highlights:

• Measured and Indicated mineral resource of 7.89 million tonnes grading at 1.73% Li2O equivalent (eq)., including 6.87 million tonnes grading 1.96% Li2O eq. in high quality technical grade lithium zones with a low inherent iron spodumene;
• Inferred mineral resource of 295,600 tonnes grading at 1.35% Li2O (eq.), including 228,700 tonnes grading 1.69% Li2O eq. in technical grade lithium zones with a low inherent iron spodumene;
• A 206% change increase in measured and indicated Li20 eq. contained tonnes from the 2015 Resource Estimate;
• The Pakeagama Lake pegmatite has a 500m strike length with an estimated true width varying from 10 to 125m with a sub-vertical orientation of the pegmatite, and;
• Resource remains open to depth and along strike to the northwest and southeast.
  Based on exploration costs, the PAK deposit exhibits a low Measured and Indicated lithium acquisition cost at $21.66/contained Li2O eq. tonne for exploration.

Houston Lake Mining President ,Trevor R. Waker, stated:

We are extremely pleased with the results of our upgraded resource estimate since there are definitely analogous features to the high grade, multi-element, and large tonnage of the prolific Tanco pegmatite in southeastern Manitoba. With the deposit exposed at surface, this report also confirms with confidence that the Pakeagama Lake pegmatite’s lithium mineralization is wide, high grade, continuous and consistent, persisting at depth, and with tantalum and possibly rubidium and cesium byproducts. Furthermore, we are happy to report that development work, including metallurgical and environmental baseline studies have been underway for the preparation of pre-feasibility to be conducted in 2016.

The post Houston Lake Mining Announces an Upgraded NI 43-101 Resource Estimate for the PAK Lithium Project appeared first on Investing News Network.

Huston Lake Mining Inc. (TSXV:HLM) announced a Canadian National Instrument (N.I.) 43-101 mineral resource estimate for the PAK Lithium Project, located in northwestern, Ontario. The resource estimation has been prepared by WSP Canada Inc., a Montreal-based firm. WSP is one of the largest engineering firms in Canada and has a mining division maintaining independent consulting geologists and engineers.

As quoted in the press release:

Highlights:

• Measured and Indicated mineral resource of 7.89 million tonnes grading at 1.73% Li2O equivalent (eq)., including 6.87 million tonnes grading 1.96% Li2O eq. in high quality technical grade lithium zones with a low inherent iron spodumene;
• Inferred mineral resource of 295,600 tonnes grading at 1.35% Li2O (eq.), including 228,700 tonnes grading 1.69% Li2O eq. in technical grade lithium zones with a low inherent iron spodumene;
• A 206% change increase in measured and indicated Li20 eq. contained tonnes from the 2015 Resource Estimate;
• The Pakeagama Lake pegmatite has a 500m strike length with an estimated true width varying from 10 to 125m with a sub-vertical orientation of the pegmatite, and;
• Resource remains open to depth and along strike to the northwest and southeast.
  Based on exploration costs, the PAK deposit exhibits a low Measured and Indicated lithium acquisition cost at $21.66/contained Li2O eq. tonne for exploration.

Huston Lake Mining President ,Trevor R. Waker, stated:

We are extremely pleased with the results of our upgraded resource estimate since there are definitely analogous features to the high grade, multi-element, and large tonnage of the prolific Tanco pegmatite in southeastern Manitoba. With the deposit exposed at surface, this report also confirms with confidence that the Pakeagama Lake pegmatite’s lithium mineralization is wide, high grade, continuous and consistent, persisting at depth, and with tantalum and possibly rubidium and cesium byproducts. Furthermore, we are happy to report that development work, including metallurgical and environmental baseline studies have been underway for the preparation of pre-feasibility to be conducted in 2016.

The post Huston Lake Mining Announces an Upgraded NI 43-101 Resource Estimate for the PAK Lithium Project appeared first on Investing News Network.

NexGen Energy Ltd. (TSXV:NXE, OTCQX:NXGEF) announced the results of its maiden independent Mineral Resource estimate for the Arrow uranium deposit on the Company’s 100% owned Rook I property in Saskatchewan’s Athabasca basin. Based on holes drilled and assayed to the end of October 2015 (AR-14-01 to AR-15-62), the estimate is an Inferred Mineral Resource of 201.9 M lbs of U₃O₈ contained in 3.48 M tonnes of mineralization grading 2.63% U₃O₈.

Garrett Ainsworth, Vice-President, Exploration and Development, commented:

Arrow is now officially a world class high grade uranium deposit containing 201.9 M lbs at 2.63% U₃O₈ of Inferred Mineral Resources. This maiden resource is based on 59,796 m of drilling where 80 out of 82 holes hit disseminated to massive uranium mineralization associated with four stacked sub-vertical shear zones starting from 100m below surface. Arrow is uniquely 100% land based with mineralization entirely basement-hosted with very low concentrations of deleterious elements associated with the uraninite-dominated mineralization presenting straightforward geochemistry with respect to processing.  The Arrow deposit’s maiden resource is an incredible milestone for NexGen and its shareholders, and showcases the southwest Athabasca Basin as one of the most important districts globally.

Leigh Curyer, Chief Executive Officer commented:

Arrow has developed into the largest undeveloped uranium asset in the AthabascaBasin. It has been achieved at an unprecedented speed and truly sets one for the record books in terms of cost of discovery at approximately $0.13 per pound U₃O₈. An achievement reflecting the technical expertise, commercial management and disciplines of the entire NexGen team. Arrow is in its infancy and the NexGen team is looking forward to continued resource and project development to achieve its goal of becoming a major global supplier of nuclear fuel.

Click here to view the full press release.

The post NexGen Announces Maiden Mineral Resource Estimate for the Arrow Deposit of 201.9 M lbs at 2.63% U3O8 appeared first on Investing News Network.

NexGen Energy’s (TSXV:NXE) Arrow deposit at the company’s wholly owned Rook 1 property in the Athabasca Basin is being heralded as the “best uranium discovery of the past 25 years” by investment firm Raymond James.

While some investors may have previously clued into Arrow’s potential given its recent slew of positive drill results, it wasn’t until the company released the maiden resource that the claims were substantiated. It shows an inferred resource of 201.9 million pounds of contained uranium in 3.48 million tonnes of mineralization grading 2.63 percent U3O8. In layman’s terms, that means Arrow is the world’s largest undeveloped high-grade uranium deposit.

In a company statement, Leigh Curyer, CEO of NexGen, praised the project’s recent numbers, noting that Arrow’s success “has been achieved at an unprecedented speed and truly sets one for the record books in terms of cost of discovery at approximately $0.13 per pound U3O8.”

Get Our Expert Guide to Uranium Investing FREE!   Download this FREE Special Report, Uranium Future Outlook: Uranium Price Forecasts and Top Uranium Stocks to Watch

As Raymond James analyst David Sadowski states in a note to clients, using the average grade highlighted in the resource — 2.63 percent U3O8 — “equates to an in-situ rock value of US$1,855/t based on current spot prices.” That means that in relation to gold grades, NexGen’s figures are equivalent to an impressive 1.5-ounce-per-tonne deposit.

Given the recent numbers, there is no doubt that the Arrow deposit has robust potential. Sadowski also notes that the resource has an expected very high-grade core at the A2 sub-zone. That has been “demonstrated by only modestly lower contained metal values at progressively higher cut-off grades.” Indeed, at a 0.5-percent cut off, resources are 194.3 million pounds grading 3.51 percent. Meanwhile, at a 2.5-percent cut off, the resource stands at 150.1 million pounds.

Remaining potential of Arrow

The project’s maiden resource encompasses only 82 holes drilled to the end of October 2015. The company is expecting to provide an updated mineral resource in the latter half of 2016 that will incorporate winter 2016 infill drilling.

NexGen notes that mineralization is still open in all directions, and that the company’s winter program will be testing for extensions of the Arrow zone and additional zones of mineralization along strike from Arrow.

Sadowski also points in his report to the potential for further growth and successful conversion to the indicated category in the future. “Critically, in-fill holes within the A2 Sub-zone have been just as, if not more prolific than those included in the resource; these include hole 64c2 which cut 26.2 m of off-scale radioactivity, 63c3 which cut 21.3 m off-scale and the incredible 63c2 which cut 40.9 m off-scale and is likely the best hole drilled at the project (and the best surface hole ever cut in the Athabasca Basin of which we are aware),” the analyst states.

For investors still skeptical on the project’s potential, Sadowski notes that the significance of a resource at Arrow this large should not be disregarded. The analyst compares it to Cameco’s (TSX:CCO,NYSE:CCK) McArthur River and Cigar Lake mines, which, as uranium market watchers are well aware, are ranked as the world’s top two mines.

Get Our Expert Guide to Uranium Investing FREE!   Download this FREE Special Report, Uranium Future Outlook: Uranium Price Forecasts and Top Uranium Stocks to Watch

What next?

Fully funded into 2017 with $31 million in the coffers, NexGen will be busy moving onto the next phase of project development.

“Arrow is in its infancy,” Curyer said in a statement, adding, “the NexGen team is looking forward to continued resource and project development to achieve its goal of becoming a major global supplier of nuclear fuel.”

For his part, Sadowski expects to see the company “continue to grow its aggressive pace of exploration throughout 2016.” The analyst also notes that metallurgical, geotechnical and hydrogeological testwork is slated to start in the short term, as well as other environmental baseline testing and other pre-permitting work. From here, Sadowski expects to see NexGen push forward into the preliminary economic assessment phase sometime in 2017.

On the back of the news, NexGen was trading up 21.65 percent, at $1.18.

 

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

Related reading:

The ‘Nex’ Big Thing? NexGen Energy’s Assay Results Point to World-class Resource

The post NexGen Energy’s Arrow is World’s Largest Undeveloped High-grade Uranium Deposit appeared first on Investing News Network.

Renew Economy reported that Germany’s Daimler will begin building its own US$544 million lithium-ion battery manufacturing facility, through its battery arm, in the third quarter of 2016.

As quoted in the publication:

The factory will produce batteries for electric and hybrid Mercedes-Benz and smart cars, along with stationary storage products for commercial and residential customers.

Daimler subsidiary Deutsche ACCUmotive will lead its battery storage activities, and it reports that Mercedes-Benz storage systems for residential customers can already be ordered and will “soon” be installed by sales and service partners.

Deutsche ACCUmotive is introducing both a 2.5 kWh and 5.9 kWh battery units to residential customers. The systems can be combined into a larger 20 kWh storage system.

Click here for the full article.

Get Our Expert Guide to Lithium Investing FREE! Download this FREE Special Report, Investing in Lithium Stocks Post Rockwood Lithium Sponsored by Dajin Resources Corp.

The post Germany’s Daimler to Build US$544 Million Lithium-ion Battery Megafactory appeared first on Investing News Network.

Zadar Ventures (TSXV:ZAD) has entered an option agreement with GeoXplor to acquire two prospective lithium projects near Silver Peak, Nevada.

As quoted in the press release:

In order to exercise the option to earn 100% in the 42 unpatented placer claims that comprise the two lithium projects, Zadar will issue 5,000,000 of its common shares and pay US$450,000 in cash payments to GeoXplor as follows:

• US$50,000 on the effective date (paid);
• 1,000,000 common shares on TSX.V approval;
• US$50,000 on or before March 25, 2016;
• 1,000,000 common shares on each of the first four anniversaries of the effective date;
• US$75,000 on each of the first and second anniversaries of the effective date; and
• US$100,000 on each of the third and fourth anniversaries of the effective date.

Zadar will be required to make exploration expenditures of US$200,000 in year one, a further US$300,000 in year two, a further US$1,000,000 in year three and a further US$1,000,000 in year four. On the fifth anniversary of the Effective Date, and annually thereafter, Zadar shall pay minimum advanced annual royalties payments of US$100,000.

Upon completion of an inferred resource calculation that confirms either of the properties having a minimum presence of 100,000 tons lithium carbonate equivalent grading at no lower than 28 parts per million lithium grade average, the Company shall pay GeoXplor US$1,000,000 in cash or Zadar Shares, or a combination thereof at Zadar’s election.

Click here for the full press release.

Get Our Expert Guide to Lithium Investing FREE! Download this FREE Special Report, Investing in Lithium Stocks Post Rockwood Lithium Sponsored by Dajin Resources Corp.

The post Zadar Ventures Signs Option to Acquire Lithium Properties in Nevada appeared first on Investing News Network.

Tethys Petroleum (TSX:TPL) has signed a legally binding amendment to its US$15 million debt facility with Oilsol Investments.

Tethy’s Petroleum Executive Chairman, John Bell, said:

Tethys now has a strong in-country strategic partner which has committed to becoming a minority shareholder and who will help the Company in its objective to supply the growing energy demand in China. I will shortly step down as Executive Chairman, into a non-executive co-Chairman role. Upon completion of the transactions under the Facility Amendment Agreement, David Henderson, David Roberts, Jim Rawls and myself will all step down from the Board. During our tenure we have reduced G&A from US$19.5 million in 2014 to US$9.5million in 2015 and to a target of $6 million on an annualised basis. We have closed seven offices, achieved certain vital Exploration & Production licence extensions, as well as overseen an increase in production. We leave the Board having steered Tethys into a Company focused on capital efficiency and cost discipline, well placed to become a strong platform for future growth.

As quoted in the press release, key terms of the amendment included:

• Olisol to convert all but US$1,000,000 of the outstanding amount of principal and accrued interest under the Interim Facility (approximately US$6.25 million) into ordinary shares (“Interim Facility Conversion”).
  • The conversion will take place at a price of USD$0.10 per share and the shares will represent approximately 15.6% of the enlarged undiluted share capital of the Company.
  • This conversion will take place as soon as all approvals are obtained from the Toronto Stock Exchange (“TSX”), which will likely include the approval by the TSX of a Personal Information Form (“PIF”) to be submitted by, or on behalf of, Olisol.
  • The Facility Amendment Agreement provides that Olisol is to submit the PIF within seven business days and Olisol irrevocably commits to the conversion described above.
• Olisol will work with a bank in Kazakhstan acceptable to Tethys (“Kazakh Bank”) to secure a loan for Tethys Aral Gas LLP, in the amount of US$10,000,000 (the “Kazakh Loan”), within 60 days.
  • Principals at one potential Kazakh Bank have already provisionally approved offering the Kazakh Loan, subject to satisfactory due diligence refreshment.
  • The Kazakh Loan, together with the Interim Facility Conversion, would satisfy the outstanding obligations of Olisol under the Interim Facility.
  • Olisol agree to pay any ordinary interest costs on the Kazakh Loan that are greater than 11%.
• Olisol to provide additional working capital reasonably required by Tethys, if necessary, to ensure the Company is able to continue to operate until completion of a placement under an amended Investment Agreement. Any amounts provided by Olisol will convert to ordinary shares on completion of the placement under the amended Investment Agreement.
• The Facility Amendment Agreement amends certain terms and definitions of the Interim Facility in order to facilitate and give effect to the Interim Facility Conversion and the other terms of the Facility Amendment Agreement.
• Olisol has committed to purchasing 181,240,793 new shares at a price to be agreed by Tethys and Olisol (acting reasonably).
  • This purchase will be subject to TSX approval, and would replace the previously announced placing of 150,000,000 shares and the backstopped further offering of 50,000,000 shares under the Investment Agreement announced by the Company on December 8, 2015.
  • This purchase, together with the Interim Facility Conversion of the amounts outstanding under the Interim Facility would result in Olisol owning approximately 42% of the enlarged undiluted share capital of the Company.
  • The shareholder approval for this placing will include an approval to reduce the par value of the shares of Tethys.
  • The 20 largest shareholders will be offered a right to acquire additional shares to maintain their pro-rata stake following this placing.
• Once certain conditions precedent are satisfied, which are expected in the near future, the previously announced initial changes to the board of directors of the Company (“Board”) will come into effect.
• Upon successful first draw down of the Kazakh Loan and conversion of the circa US$6.25 million under the Interim Facility into equity, the Board will be comprised of the following five directors.
  • Adeola Ogunsemi, non-executive director and Chairman of the Audit Committee;
  • Williams Paul Wells, non-executive director;
  • Alexander Abramov, non-executive director;
  • One additional non-executive independent director designated by Olisol; and
  • The one remaining Board seat to be filled by a candidate who satisfies the legal and regulatory requirements of the Company and whose appointment is agreed by Tethys and Olisol.

At that time, as required under the agreement, John Bell, David Henderson, David Roberts and Jim Rawls will step down from the Board;

Click here for the full press release.

Get Our Expert Guide to Oil Investing FREE! Download this FREE Special Report, Oil Investing: Oil Price Forecast and Oil Deposits Around the World

The post Tethys Petroleum Signs Deal With Olisol appeared first on Investing News Network.

After market close on Wednesday, Bacanora Minerals (TSXV:BCN,LSE:BCN) released results of a prefeasibility study for its Sonora lithium project in Mexico. 

Highlights of results included an after-tax net present value (NPV) of US$542 million at an 8 percent discount rate and an after-tax internal rate of return (IRR) of 25 percent.

The project is slated to produce 17,5000 tonnes per year of battery-grade lithium carbonate for its first two years, before expanding to 35,000 tonnes per year of production. There’s also potential for Sonora to produce up to 50,000 tonnes per year of potassium sulphate for the fertilizer industry.

As announced previously, the company intends to immediately commence a definitive feasibility study for the project. The company is fully funded through to completion of the study.

Get Our Expert Guide to Lithium Investing FREE! Download this FREE Special Report, Investing in Lithium Stocks Post Rockwood Lithium Sponsored by Dajin Resources Corp.

“With a Pre-Tax NPV of US$776M and an IRR of 29%, the PFS supports that Sonora is well placed to become one of the next major lithium producers, supplying fast growing industries, such as electric vehicles, smartphones, and energy storage,” said Bacanora CEO Peter Secker in a statement. “The next key step in the development of Sonora is a Feasibility Study, which is fully funded and expected to be completed in Q1 2017.”

Parts of the Sonora project, including the El Sauz, El Fleur and Megalit concessions, are 30 percent owned by Rare Earth Minerals Plc (LSE:REM). Last August, the companies were center stage in the lithium space after announcing the first – albeit conditional and light on detail – supply agreement with Tesla Motors (NASDAQ:TSLA) for its lithium-ion battery gigafactory in Nevada.

That’s generated plenty of excitement, but it’s worth noting that a number of analysts have been exercising a bit more caution with regards to the deal (see here and here) and with regards to the project (see here).

In any case, Bacanora’s story is certainly one to watch for lithium investors. In addition to commencing a definitive feasibility study, the company says it’s planning to seek out additional offtake partners. “With recent lithium price increases in the Asian market we believe that Sonora is a highly compelling project with which to generate value for shareholders,” Secker added.

At close of day on Wednesday, shares of Bacanora were up 4.55 percent to $1.38 per share on the Toronto Venture Exchange. In London, shares of the company were up 3.64 percent to GBX74.62.

 

Securities Disclosure: I, Teresa Matich, hold no investment interest in any of the securities mentioned in this article.

The post Bacanora Minerals: Sonora Prefeasibility Considers Up to 35,000 Tpa of Lithium Carbonate Production appeared first on Investing News Network.

Ariana Resources (LSE:AAU) reported that it has signed a memorandum of understanding (MOU) with Metal Tiger (LSE:MTR) for the review, exploration and development of lithium-tantalum opportunities in the Malay Peninsula.

As quoted in the press release:

• Initial work undertaken by both the Metal Tiger’s Thai JV operating partners and Ariana Resources technical teams indicate substantial lithium-tantalum prospectivity in the Malay Peninsula.
• Metal Tiger and Ariana Resources to collaborate on lithium-tantalum projects specifically in Thailand and Myanmar under an MoU and informal 50:50 Joint Venture (“JV”).
• A formal lithium JV structure will be adopted once specific projects are secured, although both companies have the right to assign their interests in the MoU to other group companies or to third parties at any time.
• Metal Tiger’s Thai JV operating partners are undertaking a detailed review of Thailand lithium prospectivity and have identified numerous targets for further investigation.
• Licence applications over suitable targets will be submitted by Metal Tiger’s Thai JV operating partners and notified to the market when granted.
• Subject to licencing, the market will be notified of planned work programmes and the outcome of material work undertaken.

Ariana Resources Managing Director, Dr. Kerim Sener, said:

We are very pleased to enter this collaborative framework with Metal Tiger on lithium-tantalum opportunities in the Malay Peninsula.  Following on from the significant momentum we have attained through the focus of our technology-metals subsidiary, Asgard Metals, and specifically the successful completion of our recent deal with Dakota Minerals Limited (ASX:DKO), we are keen to build on our strategy to identify similar project opportunities worldwide.

The Malay Peninsula is significantly prospective for lithium-tantalum mineralisation associated with the pegmatite vein systems that once supported an extensive tin mining industry.  Through this agreement, we now have a partnership with a trusted local operator, with which we are aiming to secure several high-quality exploration projects.  We look forward to working with the Metal Tiger Thai JV operating team in this strategic collaboration between the companies.

Click here for the full press release.

There Is No Guide to Critical Metals Investing That is More Concise, Clear and Authoritative.   Download this FREE Special Report, Investing in Today’s Critical Metals – Context for Lynas News and Molycorp News.

 

The post Ariana Resources, Metal Tiger Sign MOU For Lithium-Tantalum Opportunities appeared first on Investing News Network.

In its fourth quarter and full-year results for the twelve months ended December 31 2015, Sociedad Química y Minera de Chile S.A. (NYSE:SQM), reported a 7.8 percent increase in revenues from its lithium business in 2015. Still, the company saw its overall revenues decrease from US$296.4 million in 2014 to US$213.2 million in 2015, partly due to low prices for some of its other commodities, including potash.

As quoted in the press release:

Revenues from lithium and derivatives totaled US$223.0 million during the twelve months ended December 31, 2015, an increase of 7.8% compared to the US$206.8 million for the twelve months ended December 31, 2014.

Lithium and derivatives revenues increased 20.1% during the fourth quarter of 2015 compared to the fourth quarter of 2014. Total revenues amounted to US$63.0 million during the fourth quarter of 2015, compared to US$52.4 million in the fourth quarter of 2014.

The company also added some of its insights into the lithium market:

World demand in the lithium market continued to grow at robust levels in 2015, around 5%, and we believe demand growth in 2016 could be significantly higher. This demand growth is led by uses related to batteries. In 2015, batteries accounted for almost 50% of the total lithium market, including electric cars. New lithium supply was delayed in 2015, and only a minimal amount was brought to the market; we expect new supply from other players during 2016.

Prices in this business line increased significantly in 2015, when average prices were just over 10% higher than average prices seen in 2014. In the near term, we expect this pricing trend to continue. Our sales volumes in 2015 decreased a slight 2.1% compared to sales volumes seen in 2014, but we expect higher sales volumes in 2016.

Click here for the full press release.

Get Our Expert Guide to Lithium Investing FREE! Download this FREE Special Report, Investing in Lithium Stocks Post Rockwood Lithium Sponsored by Dajin Resources Corp.

 

The post SQM Sees Lithium Revenues Up 7.8 Percent in 2015 appeared first on Investing News Network.

International SoftRock Oil Company (TSXV:SOF) reported that, together with its partners in the Bakassi West block in Cameroon, it has commenced drilling operations for an exploration well. The group has accepted delivery of a drilling rig at the site.

As quoted in the press release:

Named the Manatee-1 well, this is  the first high impact exploration well to be drilled by the partners in this shallow water region of the prolific Niger Delta Basin, offshore Cameroon, and will be drilled over approximately 30 days using the Paragon M825 jack-up rig to a depth of 1,550 meters.  The well is being operated by Dana Petroleum and SoftRock’s 10% working interest participation is fully carried by the partners Dana Petroleum and SDX Energy Inc.

The Bakassi West block, which contains a number of discoveries, was the subject of the recently completed 350 km 2D seismic program undertaken by SoftRock and its partners.  The Manatee-1 well is located in the south western corner of the block and is expected to be a stacked 4-way dip closure.  Significantly, the play type is analogous to the Abana field, which is located approximately 7 kms to the southwest, just offsetting the Bakassi West block.  The Abana field had reported recoverable reserves of 85 million barrels of high quality light crude oil which produced at a plateau rate of 30kbopd when it came on stream in 1999.

Don Vandergrift, President and Chief Executive of SoftRock, said:

SoftRock’s vision is to create a material portfolio of near development and producing assets by, in particular, capitalising on the Company’s relationships in West Africa.  Having originally sourced the Bakassi West opportunity, we are very pleased to have attracted a high quality operator in the form of Dana Petroleum and partner SDX Energy Inc, following its merger with Madison Petrogas Ltd..

We are delighted to be drilling our first exploration well, the Manatee-1 well, offshore Niger Delta in Cameroon.  The SoftRock team has significant West African technical experience, including discovery and development of the nearby Abana field.  Like the Abana field, a discovery on Manatee-1 has the potential to be fast-tracked through development into production and given its location it is likely to be a low-cost development.  In addition, a discovery on Manatee-1 will significantly contribute to the validation of other nearby opportunities which we currently view optimistically.

Click here for the full press release.

Get Our Expert Guide to Oil Investing FREE! Download this FREE Special Report, Oil Investing: Oil Price Forecast and Oil Deposits Around the World

The post International SoftRock Oil Company Begins Drilling Operations at Bakassi West Exploration Well appeared first on Investing News Network.

Saturn Minerals (TSXV:SMI) has begun completions at its Bannock Creek project in northeastern Saskatchewan. In this area, the company intersected three potential reservoirs within the Red River Formations.

As quoted in the press release:

A work over rig has been mobilized to the well site and operations are expected to begin today. The completions program is being run in conjunction with Axiom Explorations Ltd. of Saskatoon, Saskatchewan.

The completions program will perforate all three potential oil pay zones intersected in well 9B-5. The pay zones represent a total cumulative thickness of 8 meters and are situated within the Herald, Upper Yeoman and Lower Yeoman formations, all well-known historic oil producers throughout the Williston Basin.

Click here for the full press release.

Get Our Expert Guide to Oil Investing FREE! Download this FREE Special Report, Oil Investing: Oil Price Forecast and Oil Deposits Around the World

The post Saturn Minerals Starts Completions Test at Bannock Creek appeared first on Investing News Network.

European Uranium Resources Ltd. (TSXV:EUU) announced that it’s agreed to acquire an initial 60-percent stake in the Unkur silver-copper project in Russia.

As quoted in the press release:

In connection with the Unkur Acquisition, EUU intends to raise C$2.0 million through a private placement of common shares (the “Private Placement“) and consolidate its shares on an up to 10:1 basis (the “Share Consolidation“). The Company has entered into subscription agreements with cornerstone investors for C$1.5 million of the planned Private Placement. Following the closing of the Unkur Acquisition and ancillary transactions, EUU intends to change its name to Azarga Metals Corp.

Dorian (Dusty) Nicol, president and CEO of European Uranium, commented:

This acquisition will allow the Company to proceed with exploration of an exciting new copper and silver project in a favourable location. We are preparing to conduct our first drilling program at Unkur in the fall of this year. With our low overhead cost and current low cost of drilling in Russia, we currently anticipate the fundraising to sustain active exploration at the project for a period in excess of two-years.

Click here to read the full European Uranium Resources Ltd. (TSXV:EUU) press release.

Updated December 2015 Get Our Expert Guide to Copper Investing FREE! Download this FREE Special Report, From LME Copper to Copper ETFs: Understanding Today’s Copper Price for Investing in Copper.

The post European Uranium to Acquire Stake in Unkur Silver-Copper Project appeared first on Investing News Network.

Nevada Sunrise Gold Corporation (TSXV:NEV) announced it has commenced mobilization of a drilling program to explore for lithium brines on the Neptune property located in the Clayton Valley of Nevada, USA.

As quoted in the press release:

The U.S. Bureau of Land Management has approved 10 exploration drill hole locations at Neptune, and Nevada Sunrise plans to drill up to three vertical holes to depths ranging from approximately 380 to 480 metres as an initial test of the interpreted Neptune sub-basin. A member of the Company’s geological team is on site to supervise final preparations for the drilling program. Access roads and drill pads for the first two holes have been constructed in the past few days and a third site is under construction. Drilling is expected to begin on or about March 6, 2016.

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

 

The post Nevada Sunrise Drill Program Mobilization Underway At Neptune Lithium Property appeared first on Investing News Network.

Nevada Energy Metals (TSXV:BFF) announced that it has formed an advisory board.

Nevada Energy Metals Chairman and CEO, Harry Barr, stated:

As our company becomes more active with the aggressive acquisition plans for additional lithium exploration targets in Nevada, we are now shortlisting suitable candidates to better assist in the selection, management and development of our projects. Further announcements will be forthcoming in regards to our advisory board.

The post Nevada Energy Metals Forms Advisory Board appeared first on Investing News Network.

Oakridge Global Energy Solutions (OTCMKTS:OGES) announced the commercial introduction of its groundbreaking Liberty Series lithium ion motorcycle batteries at the 75^th anniversary of the iconic Daytona Beach Bikefest.  The Daytona Beach Bikefest runs from March 4 through the 14^th and Oakridge will be promoting and selling its Liberty Series motorcycle batteries at the Company’s booth at Daytona Beach’s Rossmeyer Harley Davidson right off of highway I-95.

As quoted in the press release:

Oakridge’s Liberty Series provides a uniquely “Made-in-the-USA” lithium ion, long-life, high reliability battery solution for all models of the iconic “Made-in-the USA” Harley Davidson, Indian and Victory motorcycles.  These are larger bikes with larger engines that require a powerful battery in order to start.  Historically owners of motorcycles who did not ride at least every 7 to 14 days were forced to purchase a battery trickle charger, or tender, along with somewhat frequent purchases of replacement AGM or Lead Acid batteries, due to their propensity to go flat and not start their bikes.

In addition, the powerful Oakridge Liberty Series lithium ion batteries remove as much as 17 pounds from the weight of the largest bikes as the Oakridge high-tech lithium batteries are significantly lighter than their lead acid predecessors due to the inherent lightness of lithium, which is the lightest metal in existence with an atomic weight of only 3, whereas lead has an atomic weight more than 27 times heavier.

Oakridge Global Energy Solutions Executive Chairman and CEO, Steve Barber, stated:

Our senior management team at Oakridge owns more than 15 American motorbikes here in the US and we all agreed early on that one of our key products would be motorbike batteries because we were all fed up with the standard lead acid batteries always going flat. With my travel schedule over the past 30+ years, I have been a frequent owner of flat batteries when I wanted to have a nice relaxing ride.  We have spent the past 12 months refining and finalizing this product and are excited to announce that we are delivering the Liberty Series product line to the public at the iconic Daytona Beach Bikefest. And the fact that this year is the famous event’s 75^thanniversary makes it that much better for us to have the commercial release of the Liberty Series at this year’s Bikefest.

With the commercial production release of the “Made in USA” Liberty Series batteries, Oakridge is continuing our fundamental mission to onshore manufacturing back to the US and we will continue to introduce new and exciting products.  As avid motorbike enthusiasts, our team at Oakridge is very excited to be commercially shipping our Liberty Series batteries beginning this week. We are also excited to announce that we will also be gradually extending our Liberty Series batteries to all other brands of motorcycles, jet skis, snowmobiles and boats as well.

Connect with Oakridge Global Energy Solutions (OTCMKTS:OGES) to receive an Investor Presentation.

The post Oakridge Global Energy Commercial Introduction of Lithium-ion Motorcycle Batteries at Daytona Beach Bikefest appeared first on Investing News Network.

Uranium market watchers and proponents of nuclear power have undoubtedly encountered thorium, the unicorn in the room when it comes to clean energy. As the world’s nuclear energy consumption increases and future supply of uranium remains uncertain, thorium is being looked into as a possible alternative to uranium to provide safe and abundant nuclear power at a reasonable cost.

But what is thorium and how can it play into the global energy future?

Get Our Expert Guide to Uranium Investing FREE!   Download this FREE Special Report, Uranium Future Outlook: Uranium Price Forecasts and Top Uranium Stocks to Watch

Thorium, a slightly radioactive metal that occurs in rocks and soils. It is more abundant in nature than uranium and is fertile rather than fissile. When placed into nuclear applications, thorium can be used in conjunction with a fissile material like recycled plutonium.

The use of thorium as a primary source of energy is still in the works. As World Nuclear Association (WNA) notes, extracting the latent energy value of thorium in a cost-effective manner is still challenging. This means that before the the energy sector can turn to thorium as a viable option, there is still a lot of research and development that needs to go into refining the technology.

Thorium in the works

The question of whether thorium works for energy production was answered in 2013, when privately owned Norwegian company Thor Energy began to produce power at its Halden test reactor in Norway using thorium. “It is the fundamental first step in the thorium evolution,” Thor Energy’s CEO, Oystein Asphjell, told Reuters at the time.

Nuclear giant Westinghouse, a unit of Toshiba (TSE:6502), is part of an international consortium that Thor Energy established to fund and manage the experiments. An established player in nuclear energy, Westinghouse provides viewpoints on the research.

Thor Energy is not the only company engaged in researching whether or not thorium is a viable alternative to uranium in nuclear energy. In fact, firms from the US, Australia and the Czech Republic have also been working on thorium reactor designs and other elements of fuel technology using the metal. However, Thor was the first to begin energy production using the radioactive metal.

But the Norwegian company is not the only one making strides in the thorium space. In fact, India has been interested in thorium-based nuclear energy for decades, according to the US Geological Survey (USGS). The country’s nuclear developers have designed an advanced heavy water reactor that is specifically aimed at using thorium as a fuel.

Also looking at the prospect of thorium as a fuel source is China, who signed a phase two agreement in 2009 to study the commercial and technical feasibility of its full-scale use in the Candu power system, a heavy water reactor that uses thorium-based fuels.

How thorium energy works

Unlike uranium, thorium can’t split to make a nuclear chain reaction — in scientific terms, it isn’t fissile. However, if it is bombarded by neutrons from a fuel that is fissile, like uranium-235 or plutonium-239, it’s converted to uranium-233, itself an excellent nuclear fuel. After the process begins, it’s self-sustaining — fission of uranium-233 turns more thorium nearby into the same nuclear fuel.

WNA highlights that an “important principle in the design of thorium fuel systems is that of heterogeneous fuel arrangement in which a high fissile (and therefore high power) fuel zone called the seed region is physically separated from the fertile (low or zero power) thorium part of the fuel – often called a blanket. This serves to better supply extra neutrons with thorium nuclei, enabling them to convert to fissile U-233.

There are complexities beyond the scope of this article, including the mechanics of molten-salt versus pressurized-water reactors in burning thorium, but the reaction described above is the main appeal of thorium, and its principal promise.

Thorium vs. uranium

Thorium is an appealing alternative to uranium to many countries as it is both cheaper and more abundant than uranium.  Furthermore, during a thorium-powered nuclear reaction, most of the thorium itself is consumed, which leads to less waste, most of which is rendered non-hazardous in 30 years. The most dangerous nuclear waste material currently in use must be stored for 10,000 years, by way of contrast. Furthermore, 1 metric ton of thorium is equal to 250 metric tons in terms of efficiency in a water reactor.

Extraction of thorium would be less expensive per unit of energy than extraction of uranium as well, because it is present in higher concentrations by weight than the other metal, according to Dauvergne. The source also mentions another peculiar trait of thorium: it is nearly impossible to weaponize, as it contains no fissile isotopes. That in itself has slowed uranium research, according to a 1997 international scientific symposium on nuclear fuel cycles.

The dangers of uranium —widely publicized in the wake of the Fukushima disaster — often lead analysts and others to consider thorium more seriously. As thorium is not fissile on its own, reactions could be stopped in case of emergency, according to Forbes. What’s more, the publication suggests thorium could allow countries like Iran and North Korea to benefit from nuclear power without causing concern that they are secretly developing nuclear weapons.

Thorium can also be used together with conventional uranium-based nuclear power generation, meaning a thriving thorium industry would not necessarily make uranium obsolete.

Interestingly, the idea of using thorium as an alternative to coal in the US came up recently following the release of President Barack Obama’s final version of the Clean Power Plan. During a talk at the Harvard iLab, Harvard Business School Professor Joe Lassiter discussed why he believes nuclear power is an essential ingredient in fighting the worldwide threat of coal-fired power plant emissions, noting both uranium and thorium as viable alternatives.

Get Our Expert Guide to Uranium Investing FREE!   Download this FREE Special Report, Uranium Future Outlook: Uranium Price Forecasts and Top Uranium Stocks to Watch

Where thorium is found

Thorium is present in small quantities in soils and rocks everywhere, and it’s estimated to be about four times more plentiful than uranium. Large reserves, rather than the trace amounts of the metal in the average backyard, exist in China, Australia, the US, Turkey, India and Norway, according to Reuters.

The USGS compiled a document listing its domestic thorium resources. The metal is found in epigenetic vein deposits, low-grade deposits and black sand placer deposits. In its many locations, thorium can be found in Montana, Idaho, Colorado, the Carolinas, Florida and Georgia. This is a huge range of locations for possible thorium exploration, development and production.

The US isn’t the only place that contains thorium resources. According to the USGS, in 2014 exploration and development of rare earths projects associated with thorium were underway in Australia, Brazil, Canada, Greenland, India, Russia, South Africa, the United States and Vietnam.

Skyharbour Resources (TSXV:SYH) is one company with thorium exploration in the works. Its Falcon Point uranium and thorium project is located in the Athabasca Basin in Saskatchewan. And while the project is still in its early stages, the company released assays from a drill program there in June, showing intersections of 0.172 percent U3O8 and 0.112 percent ThO2 over 2.5 meters.

There are also quite a few rare earths companies that have found thorium at their respective properties, in both alkaline rock complexes and vein-type deposits. A few companies that have found thorium resource at their projects in Australia include Arafura Resources (FWB:REB), Northern Minerals (ASX:NTU), Capital Mining (ASX:CMY) and Lynas Corporation (ASX:LYC).

 

Editor’s note: This is an updated version of an article previously published on August 15, 2015. 

The post Does Thorium Play a Role in the Future of Nuclear Energy? appeared first on Investing News Network.

In an interview with Epstein Research Dajin Resources Corp. (TSXV:DJI,OTCMKTS:DJIFF) Director, Dr. Catherine Hickson, discussed the companies lithium interest in Jujuy Province, Argentina.

As quoted in the interview:

What is the Status of Dajin’s mineral concessions? 

It’s an exciting time for Dajin in Argentina. Literally within weeks of Marci’s victory, we were able to convene an essential meeting (a Ugamp), on our San Jose and Navidad concessions located on the Salinas Grandes salar in Jujuy Province. This meeting, which brought together ourselves, government representatives and delegates from local communities, was one we had patiently waited years for. The main goal was to review and ratify proposed exploration plans put forth by the Company. This meeting was an important step towards Dajin being awarded an exploration license.  

Has the management and Board mapped out near-term objectives in Argentina?

Myself and my Jujuy based team of Dr. Beatrice Coira and Ing. Gabriel Blasco are formalizing a surface sampling and drilling program. Work will begin (probably in May/June), subject to obtaining our permit and contingent upon weather conditions. We met with newly appointed provincial Secretary of Mines, Dr. Miguel Solar, and found him to be very interested & motivated in increasing mining investment in Jujuy Province.

From a volcanologist, (exploration & geothermal) geologist’s point of view, what features of Dajin’s concessions in the Salinas Grandes make the property look promising? 

Salinas Grandes, is exactly what the name implies. It’s a huge closed basin full of salt. The surface is white from precipitated NaCl deposits that are actually used for table salt and other applications. There are many thick layers of volcanic rocks in the area and all the water draining into Salinas Grandes stays there and evaporates (the definition of a closed basin or playa in Spanish). This includes Lithium-rich water from Volcan Tugzle along the southern margins of the salar. The playa has existed for several 100,000 years, so there has been plenty of time to concentrate Lithium in the brines.

What are the most important takeaways for readers to consider?

• Argentina is open for business again,
• In Argentina, Dajin has scale (100,000 hectares), close proximity to brine producer Orocrobre and a meaningful head start,
• Like in any foreign countries, new entrants can’t simply stake ground and be off to the races,
• Boots on the ground, time & resources invested, and an understanding of the people, local government / Provinces, and applicable government agencies are vitally important to progressing in a prudent, efficient manner.

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

The post Dajin Resources Director Dr. Catherine Hickson Discusses Lithium in Argentina appeared first on Investing News Network.

In its interim results for the six months ended December 31 2015, Bacanora Minerals (TSXV:BCN,LSE:BCN) stated that it is planning to move directly to a definitive feasibility study once its prefeasibility study is complete for its Sonora lithium project in Mexico.

Peter Secker, CEO of Bacanora, stated that the company is fully funded through to completion of a definitive feasibility study:

“Subject to the results of the PFS, we will look to immediately embark on a Definitive Feasibility Study. Thanks to the successful private placement during the period, which brought our first top tier institutional investor onto our shareholder register, not only is the DFS fully funded, but we are also able to expand and upgrade the Company’s lithium pilot plant in Hermosillo, Mexico. This will allow us to produce battery grade lithium carbonate marketing samples for distribution to potential off-take partners in Europe and Asia later this year. 2016 is shaping up to be a pivotal year in the transformation of Bacanora into a supplier to the rapidly growing lithium market and I look forward to providing further updates on our progress.

As quoted in the press release, other highlights from the company included:

• Excellent progress made with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101″) standard Pre-Feasibility Study (“PFS”) focused on designing a plant potentially capable of delivering up to 35,000 tonnes per annum of lithium carbonate at Sonora Lithium Project – on course to be completed in the near term
• 337% increase in the Indicated portion of the Mineral Resource Estimate (‘MRE’) at Sonora to 5.0 million tonnes (“Mt”) lithium carbonate equivalent (“LCE”)1 contained in 364 Mt of clay, at a Li grade of 2,600 ppm compared to previous Indicated resource of 1.14 Mt LCE contained in 95 Mt of clay, at a Li grade of 2,200 ppm
  • Major positive implications for mine planning and life of mine
  • MRE prepared in accordance with NI 43-101 • Latest MRE upgrade follows a 19 hole infill drilling programme (approximately 4,000 metres) which was completed during the period and forms part of the ongoing PFS
• First long-term lithium hydroxide supply agreement signed – negotiations with a number of additional potential partners are ongoing
• Lithium market dynamic remains highly positive – demand is expected to continue to grow rapidly thanks to lithium’s key role in highly innovative industries such as smartphones, electric vehicles and energy storage
• Completion of a private placement financing of approximately CAD$17.8 million (£8.8 million) via the placing of 11,476,944 new common shares at a price of CAD$1.56 (77.0 pence) per share to fund lithium engineering designs, pilot plant upgrade, definitive feasibility study (“DFS”) (assuming successful completion of the PFS), project work and metallurgical testwork during 2016 o First major institutional shareholder secured through the financing.

Click here for the full press release.

Get Our Expert Guide to Lithium Investing FREE! Download this FREE Special Report, Investing in Lithium Stocks Post Rockwood Lithium Sponsored by Dajin Resources Corp.

The post Bacanora Minerals Planning to Move to Feasibility as Soon as PFS is Complete appeared first on Investing News Network.

Lithium junior Pure Energy Minerals (TSXV:PE) grabbed the attention of market watchers on Tuesday morning after its share price spiked 20 percent on high volume during morning trading hours.

As of 11:22 a.m. EST, shares of Pure Energy were up 20.97 percent to $0.75. Trading volumes were sitting at 957,390, over three and a half times the company’s daily average of 268,706.

It’s unclear what led the spike in trading for the company. Pure Energy hasn’t put out any new news in the past two days, and while there were a few insider transactions filed on SEDI on February 29, those were hardly enough to account for Tuesday’s bump in share price.

Still, the company has seen some positive news as of late. Last Thursday, it was named the top performing mining company on the TSX Venture 50 for 2015. That ranking was based on its market cap growth, share price appreciation and trading volume. On February 18th, Pure Energy announced it had completed the fifth well at its Clayton Valley South project in Nevada.

Get Our Expert Guide to Lithium Investing FREE! Download this FREE Special Report, Investing in Lithium Stocks Post Rockwood Lithium Sponsored by Dajin Resources Corp.

Beyond that, last Wednesday, a press release entitled “This Emerging Lithium Producer Could Disrupt the Entire Industry,” discussing Pure Energy was put out, with the source of the article listed as Street Reports. On Monday, Mineweb republished a piece on lithium written by James Stafford of Oilprice.com. He states that Pure Energy “has the only brine resource in North America, and that it is directly adjacent to Albermarle’s (NYSE:ALB) Silver Peak Mine, the only producing lithium operation in North America. Certainly, there’s no shortage of market watchers who like Pure Energy Minerals.

What’s more, it’s no secret that lithium companies have been all the rage lately. While most metals and resource commodities have seen their prices under pressure in recent months, lithium prices are on the rise due to increasing demand from the battery sector (although, as Chris Berry of the Disruptive Discoveries Journal has explained, it’s probably more useful to pay attention to production costs than to rising lithium prices).

Add to that the unending excitement surrounding Tesla Motors (NASDAQ:TSLA) and the lithium-ion battery gigafactory it’s building in Nevada, and it’s clear why a number of mining companies have begun to stake properties in the state. Last September, Pure Energy became the second junior mining company to secure a conditional lithium supply agreement with Tesla. The agreement was light on detail, and some analysts were hesitant regarding the announcement, but the news generated plenty of attention at the time.

More generally, it’s worth noting that some analysts have stressed the importance of remaining cautious when looking at the junior lithium space. Joe Lowry of Global Lithium has written about this, and when asked whether he had any concerns about the lithium market heading into 2016, Chris Berry stated, “Like moths to a flame, too many juniors in the space can cloud the true potential of the commodity and confuse investors.”

Shares of Pure Energy were up 16.13 percent to $0.72 as of 12:06 p.m. EST. The company’s share price has gained 26.32 percent in the past month and 140 percent in the past year. It has a market capitalization of 35.62 million.

 

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

The post Why Did Pure Energy Minerals Jump 20 Percent? appeared first on Investing News Network.