IVWFF: Plan of Arrangement. Pursuant to the Arrangement, all of the issued and outstanding LeadFX Shares have been acquired. Under the Arrangement, the LeadFX Shares will be consolidated on a 5,000,000 to one basis and shareholders holding less than one (1) post-consolidated LeadFX Share will receive $1.00 in cash per pre-consolidated LeadFX Share and shareholders holding one or more post-consolidated LeadFX Shares will be entitled to a new post-consolidated LeadFX Share.

FINRA deleted symbol:

https://otce.finra.org/otce/dailyList?viewType=Deletions

LeadFX suitor Sentient files early warning report

2018-07-24 11:52 ET - News Release


An anonymous director reports

SENTIENT IV FILES EARLY WARNING REPORT IN RESPECT OFLEADFX INC.

Sentient Executive GP IV Ltd. (for the general partner of Sentient Global Resource Fund IV LP) has filed an early warning report in connection with the holdings of the following entities in LeadFX Inc., which may, for these purposes, be considered to be acting jointly or in concert with Sentient IV under relevant securities laws: Sentient Executive GP I Ltd., Sentient (Aust.) Pty. Ltd., Sentient Executive GP II Ltd., Sentient Trustees PTC Ltd. and Sentient Executive GP III Ltd. (collectively, with Sentient IV).

The early warning report has been filed following the announcement by LeadFX earlier today of a proposed go-private transaction to be completed by way of a statutory plan of arrangement pursuant to Section 192 of the Canada Business Corporations Act. If the arrangement becomes effective, then Sentient and InCoR (as defined herein) will, together, own or control or have direction over 100 per cent of the common shares of LeadFX. Sentient may also be considered to be acting jointly or in concert with InCoR Energy Materials Ltd. and InCoR Technologies Ltd. in relation to the arrangement.

The arrangement includes, among other things, a consolidation of the LeadFX shares on the basis of five million preconsolidation LeadFX shares for one postconsolidation LeadFX share. Shareholders of LeadFX, other than Sentient and InCoR, who would otherwise receive less than one whole postconsolidation LeadFX share in exchange for their preconsolidation LeadFX shares will be entitled to receive, in lieu of fractional LeadFX shares, cash consideration of $1 for each preconsolidation LeadFX share.

The arrangement also provides for, among other things: (i) the cancellation of all outstanding options to acquire LeadFX shares; (ii) the cancellation of all unexercised common share purchase warrants of LeadFX; and (iii) the cancellation of all performance share units to acquire LeadFX shares then outstanding, provided, however, that (a) if the previously issued stage 3 warrant to acquire 5.75 million LeadFX shares held by InCoR (refer the umbrella agreement dated June 20, 2017, as filed on LeadFX's SEDAR profile) has not previously been exercised in accordance with its terms, then it will deemed to be exercised without any further action by InCoR and InCoR will be issued 5.75 million preconsolidation LeadFX shares, and (b) 269,000 performance share units shall be deemed to be unconditionally vested and exercised, without any further action by the holder(s) thereof, into 269,000 preconsolidation LeadFX shares.

Assuming the completion of the arrangement, the LeadFX shares are expected to be delisted from the Toronto Stock Exchange and LeadFX is expected to make an application to the applicable securities commissions for an order that it is not a reporting issuer (or equivalent) in any jurisdiction of Canada.

The foregoing assumes that the arrangement will be completed on substantially the terms disclosed in LeadFX's press release disseminated on July 23, 2018.

Prior to and after the transaction or occurrence that triggered the requirement to file this report, Sentient had ownership or control over 36,609,182 LeadFX shares, representing approximately 52.6 per cent of the outstanding LeadFX shares on a basic basis and 144,973 LeadFX warrants, representing, together with the existing Sentient holdings, approximately 52.7 per cent of the outstanding LeadFX shares on a partially diluted basis (assuming only the exercise of the LeadFX warrants held by Sentient). In addition, prior to and after the transaction or occurrence that triggered the requirement to file this report, InCoR had ownership or control over 27,306,475 LeadFX shares, representing approximately 39.2 per cent of the outstanding LeadFX shares on a basic basis and 5,879,131 LeadFX warrants, representing, together with the existing InCoR holdings, approximately 44.0 per cent of the outstanding LeadFX shares on a partially diluted basis (assuming only the exercise of the LeadFX warrants held by InCoR).

Prior to and after the transaction or occurrence that triggered the requirement to file this report, Sentient and InCoR had ownership or control over an aggregate of 63,915,657 LeadFX shares, representing approximately 91.8 per cent of the outstanding LeadFX shares on a basic basis and 6,024,104 LeadFX warrants, representing, together with the existing Sentient holdings and existing InCoR holdings, approximately 92.5 per cent of the outstanding LeadFX shares on a partially diluted basis (assuming only the exercise of the LeadFX warrants held by Sentient and InCoR).

LeadFX arranges $2.91-million private placement

2018-07-09 20:30 ET - News Release


Mr. Andrew Worland reports

LEADFX ANNOUNCES PRIVATE PLACEMENT

InCoR Energy Materials Ltd. has signed a term sheet for the issuance of 3,643,008 common shares in LeadFX Inc. at a price of 80 cents per common share.

The placement proceeds of $2,914,406 are expected to be applied toward early engineering works and metallurgical testwork programs for the Paroo Station lead mine, and general corporate and working capital needs of the company. The placement is anticipated to close in two tranches -- 50 per cent of the placement to close after July 13, 2018, but before July 20, 2018, and the remainder to close on or before July 31, 2018.

The placement is subject to: (i) executing definitive documentation; (ii) no order, ruling or decision being issued or granted by a court or regulatory or administrative authority that has the effect of precluding or restricting the issuance or trading of the common shares, or that affects any person or company who engages in such a trade; (iii) the receipt of all regulatory approvals, including, but not limited to, Toronto Stock Exchange approval; and (iv) customary conditions for an offering of this type.

Following the placement, the company's capital structure (excluding "out-of-the-money options" and performance share units) would be as shown in the attached table.

Common shares Placement Common shares Warrants Stage 3 Warrants Fully Interest
at the date common issued after exercised warrants exercisable diluted in fully
hereof shares placement at 61 at $1.75 per equity diluted
cents per common share equity
common share

Sentient 36,609,182 - 36,609,182 - - 114,973 36,724,155 46.3%
InCoR 26,085,728 3,643,008 29,728,736 1,220,747 5,750,000 129,131 36,828,614 46.5%
Other 5,700,056 - 5,700,056 - - - 5,700,056 7.2%
Total 68,394,966 3,643,008 72,037,974 1,220,747 5,750,000 244,104 79,252,825 100.0%

LeadFX cash at $379,000 (U.S.) on March 31

2018-05-15 20:30 ET - News Release


Mr. Andrew Worland reports

LEADFX REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS

LeadFX Inc. has released its first-quarter 2018 financial results (all dollar amounts are in thousands and U.S. dollars unless otherwise indicated).

The Company's principal asset and sole production stage mineral property is the Paroo Station Lead Mine ("Paroo Station" or the "Mine") located 30km west of Wiluna in the mid-west of Western Australia. The Mine was placed in care and maintenance in the first quarter of 2015. The Company also owns an 83.5% interest in Chief Consolidated Mining Company ("Chief"), an Arizona company with interests in mineral properties in Utah ("Chief Properties").

The primary focus of the Company has been examining initiatives to re-start the Mine, most specifically focusing on supporting InCoR's commitment to complete a definitive feasibility study ("DFS") to assess the viability of constructing and operating a Hydrometallurgical Facility on site to produce 70,000 tpa of lead metal in ingot form.

InCoR contracted SNC-Lavalin Australia Pty Ltd ("SNC-Lavalin") to prepare the DFS and it was successfully completed on February 28, 2018. The results of the DFS were outlined in the press release dated February 28, 2018, the Company's Annual Information Form, Annual Financial Statements and Management Discussion and Analysis each dated March 28, 2018 and the Independent National Instrument 43-101 Technical Report, titled, "NI 43-101 Technical Report on the Paroo Station Lead Carbonate Mine, Wiluna, Western Australia" filed on April 12, 2018.

The DFS demonstrated the technical and economic feasibility of constructing and operating a Hydrometallurgical Facility at the Mine. The Hydrometallurgical Facility would involve the leaching and electrowinning of lead concentrates produced by the existing mine and milling operation to produce lead ingots. This would have the effect of eliminating many of the operating and financial risks that have caused the Mine to be placed on care and maintenance in the past, as well as improving the overall project economics.

(in thousands of U.S. dollars, except per share amounts)
3 months ended March 31,
2018 2017
Cashflow used in operations (1,098) (932)
Cashflow from (used in) investing activities - 456
Cash flows from financing activities 465 1,985
Effect of exchange rate changes on cash and cash equivalents(11) 36
Net change in cash (644) 1,545
Cash on hand 379 2,529
Net loss before tax (3,303) (2,871)
The net loss before tax for the Quarter year was $3,303 (2017: $2,871). Operating loss for the Quarter was $2,992 (2017: $1,967) reflecting lower Mine care and maintenance and general administration costs offset by the recording of a $1.5 million expense reflecting the accounting for warrants issued pursuant to the private placement announced on December 14, 2017.

Cash on hand at the end of the Quarter was $379 (2017: $1,023). The Mine remained on care and maintenance during the Quarter. The Company's activities during the Quarter were financed from cash reserves on hand at the start of the Quarter and tranche 2 of the private placement announced on December 14, 2017 ($465). There were no cash flows from investing activities during the Quarter.

Outlook

Additional financing will be required to meet our strategic growth plans, ongoing costs and loan commitments of the Company. Subject to arranging financing , the Company is seeking to move into a an early works program of engineering and design for the Hydrometallurgical Facility as well as undertaking a further closed cycle pilot plant. Discussions with project financiers have been initiated.

Capital Resources, Liquidity and Working Capital Requirements

As at March 31, 2018 the Company has a working capital deficit of $25.3 million (December 31, 2017 - $24.2 million) which includes $16.3 million (December 31, 2017 - $15.9 million) owing to Sentient under the Second Amended and Restated Credit Agreement. Neither the Mine nor the Chief properties are operational or generating revenue.

On February 26, 2018 LeadFX, Rosslyn Hill Mining Pty Ltd, Ivernia Australia Pty Ltd, Redback Pipeline Pty Ltd and Sentient entered into an amendment ("Amendment") to the Second Amended and Restated Credit Agreement to extend the maturity date for re-payment of the indebtedness outstanding to Sentient. In accordance with the Amendment, the indebtedness becomes due and payable on the earlier of March 31, 2019 or financial close being achieved for the financing of the planned Hydrometallurgical Facility at the Mine. Financial close is defined as being the date on which the Company has demonstrated it has fully funded the Hydrometallurgical Facility and conditions to first drawdown on debt facilities, if any, for the construction of the Hydrometallurgical Facility have been met. The indebtedness will continue to incur interest at 10% per annum until its maturity.

Notwithstanding the gross proceeds of the placements described herein received by the Company during 2017 and 2018 or the sale of Mining Data in December 2017, the Company has limited cash available, other than to meet near term obligations, and will require additional funding in the near term.

The Company's ability to continue as a going concern is dependent on a number of factors. The Company will need to raise funds in order to pay for its ongoing costs of operations as well as service its working capital deficiency, meet its commitments to lenders, and meet the costs of care and maintenance. In addition, the Company will require funding for any potential future restart of the Mine, construction of a Hydrometallurgical Facility and development of the Company's mineral project. The amount of funding required is dependent on several factors including, but not limited to, the nature of any refinancing of the Second Amended and Restated Credit Agreement, the nature of any additional transactions undertaken by the Company to realize the value of the Company's assets, the outcome of further negotiations with the Company's lenders, the costs and duration of care and maintenance, any decision to pursue a Hydrometallurgical Facility at the Mine, and the cost of bringing the Company's mineral projects into production.

There is no guarantee or assurance that the Company will be able to (i) refinance the Second Amended and Restated Credit Agreement, (ii) secure sufficient financing to fund its commitments to its lenders, general and administrative costs and the costs of ongoing care and maintenance, the costs of any potential future restart of operations or the costs of bringing its mineral projects into production or (iii) complete any further transactions.

If the Company is unable to obtain sufficient funds and repay debts from either one or more of these actions, it would affect its ability to continue as a going concern. A decision to restart the Mine and construct a Hydrometallurgical Facility will be contingent on several factors including, but not limited to, a review of the outcomes of the DFS, forecast capital and operating costs, the LME lead price, and the USD:AUD foreign exchange rate. A decision to commence development of the Company's mineral projects will be contingent on several factors including, but not limited to, overall project economics, commodity prices, the estimated recoverable minerals from the mineral projects, the projected cost to develop these projects and obtaining funding to finance these costs.

These material uncertainties cast significant doubt as to the Company's ability to continue as a going concern. As at March 31, 2018, the consolidated financial statements do not reflect any adjustments to the carrying values of assets and liabilities and the reported expenses and balance sheet classifications that would be necessary should the going concern assumption be inappropriate. Such adjustments could be material.

Shares issued and outstanding

As at March 31, 2018, there are 66,753,204 Common Shares, no preferred shares, 8,124,301 Warrants and 106,666 options outstanding.

InCoR exercised the first tranche of Warrants totaling 23,000,000 on February 28, 2018 pursuant to the Umbrella Agreement dated June 20, 2017.

LeadFX completes Sentient's 229,946-unit subscription

2018-05-08 18:09 ET - News Release


Mr. Andrew Worland reports

LEADFX ANNOUNCES PART CLOSING OF PRIVATE PLACEMENT

LeadFX Inc. has closed in part the private placement announced April 9, 2018.

Sentient Global Resources Fund IV, LP ("Sentient") has subscribed to 229,946 units of the Company, each unit being comprised of one (1) common share of the Company ("Common Share") and one half Common Share purchase warrant ("Warrant") for each one (1) Common Share issued (hereinafter, a "Unit").

The Company has today closed Sentient's contribution. InCoR Energy Metals Limited's ("InCoR") subscription to 258,262 Units is expected to close in the coming days. The Units have been issued to Sentient, and will be issued to InCoR, at $1.40 per Unit by way of a non-brokered private placement for gross proceeds of approximately $683,491 (the "Offering"). Each whole warrant will entitle the holder thereof to purchase one (1) additional Common Share at a price of $1.75 for a period of 60 months from their respective closing dates of the Offering.


Proceeds from the Units will be applied toward general corporate and working capital needs of the Company.

Annual General Meeting

The Company's Annual and Special Meeting of shareholders is scheduled for May 15, 2018. It has come to the attention of the Company that the Management Information Circular dated April 12, 2018 incorrectly specified the record date as April 12, 2018. The correct record date is April 10 , 2018 and shareholders of record as at 5:00pm (Toronto time) on April 10 , 2018 will be entitled to vote.

LeadFX files technical report on Paroo Station

2018-04-12 17:09 ET - News Release


Mr. Andrew Worland reports

LEADFX ANNOUNCES FILING OF NI43-101 REPORT FOR THE PAROO STATION LEAD MINE IN WESTERN AUSTRALIA

LeadFX Inc. has filed an independent National Instrument 43-101 Technical Report, titled, NI 43-101 Technical Report on the Paroo Station lead carbonate mine in Wiluna, Western Australia. the technical report supports the company's press release dated Feb. 28, 2018.

The purpose of the technical report is to provide a summary of the technical and economic feasibility of constructing and operating a hydrometallurgical facility at the Paroo Station lead mine in Wiluna, Western Australia, that integrates the existing mine and processing facility with a new hydrometallurgical facility to produce lead metal in ingot form, pursuant to NI 43-101 and other rules of the Canadian Securities Administrators.

The technical report can be found on the company's website and at SEDAR.

LeadFX's Paroo mine advances environmental process

2018-04-04 10:37 ET - News Release


Mr. Andrew Worland reports

LEADFX ANNOUNCES PAROO STATION LEAD MINE HYDROMETALLURGICAL FACILITY ON TRACK FOR Q3 APPROVAL

The Western Australia Environmental Protection Authority has set the level of environmental assessment for LeadFX Inc.'s proposed hydrometallurgical facility at the Paroo Station lead mine as referral information under Part IV of the Environmental Protection Act, 1984.

Highlights:

EPA to assess proposed Paroo Station lead mine hydrometallurgical facility as referral information;
Administrative target assessment period of 12 weeks;
Establishes pathway to commencing construction activities in the third quarter of 2018 (1);
Strong community and stakeholder support received.
The EPA's assessment follows review of the company's environmental referral document filed with the EPA and made available to the public on Feb. 5, 2018.

The referral describes the key environmental factors relevant to the construction and operation of the proposed hydrometallurgical facility, including the expansion to the mining footprint. Under the EPA's referral assessment, the company has been requested to provide additional information for the tailings storage facility and management of groundwater mounding, management of lead and the proposed condition-setting framework.

The company will provide information to support the EPA's administrative target of completing their report and recommendations to Western Australia's Minister for Environment in 12 weeks.

The Minister for Environment will consider the EPA's report and any public appeals before determining, in consultation with other state government ministers, whether the proposal should be allowed to proceed and if so, under what conditions. No federal government assessment is required.

The hydrometallurgical facility definitive feasibility study was completed in February, 2018, and demonstrated the technical and financial viability of the construction and operation of the facility, capable of producing approximately 70,000 tone per year of lead ingot (metal). It would be built adjacent to the existing concentrator plant at Paroo Station.

In preparing the referral, management undertook comprehensive stakeholder engagement -- meeting directly with all 20 local government representatives impacted by activities already approved under existing environmental conditions for operations at Paroo Station, various state regulators including the EPA, Department of Water and Environmental Regulation, Department of Mines Industry Regulation and Safety, and community groups.

The EPA assessment process is the Western Australian Government's primary approval requirement for the hydrometallurgical facility. In parallel, secondary licensing approvals with various key decision-making authorities of the state government are also being progressed.

(1) Subject to EPA approval, ministerial approval and financing.

LeadFX Announces Board Changes, Omnibus Plan and Awards

PERTH, AUSTRALIA, March 5, 2018

PERTH, AUSTRALIA, March 5, 2018 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) is pleased to announce the appointments of Mr. Stephen Dennis, Mr. George Molyviatis and Mr. Andrew Worland to the board of directors ("the Board") with immediate effect.

Mr. Dennis has been appointed Chairman of the Company succeeding Mr. David Warner who will remain chairman of the Company's Audit, Compensation and Corporate Governance Committees.

Stephen, who is based in Perth, Western Australia, has been involved in the Australian mining industry for over 35 years, and currently serves as chairman on the board of a number of listed resource companies

Until 2015, Stephen was Managing Director and Chief Executive Officer of CBH Resources Limited, a significant producer of lead and zinc in Australia. His current board appointments include dual TSX/ASX listed Heron Resources Limited, which is developing the Woodlawn zinc/lead/ copper project in New South Wales.

Stephen is uniquely positioned to make a significant contribution to the Company as it enters its next phase of development, having participated in the construction and operation of several major resource projects in Australia, in particular lead and zinc mine developments.

As an independent director, Stephen will also join the Audit, Compensation and Corporate Governance Committees.

Mr. Molyviatis has been appointed as a Director of the Company. George is the Chairman of InCoR Holdings Plc, and has over 25 years of investment banking and project investment and financing experience and served on a number listed public company boards.

The Board is also pleased to announce current Chief Executive Officer Mr. Andrew Worland has been appointed as Managing Director of the Company.

Each of Messer's Dennis, Molyviatis and Worland, together with current members of the Board, will stand for reelection at the Company's 2018 annual general meeting of shareholders to be held before June 30, 2018.

Commenting on the new appointments Mr. David Warner stated "We are very pleased that the Company has been able to attract Stephen and George to the Board. Stephen's appointment reflects the forecast expansion of the Company's activities at the Paroo Station Lead Mine in Western Australia following the release of the definitive feasibility study this week. Stephen has a long history of corporate and mining asset management and has a strong knowledge of the lead and zinc industry. George joins the Board of Directors as the Company moves into a project financing phase for the Hydrometallurgical Facility at Paroo Station and we look forward to his strong contribution."

The Board has resolved to adopt a new omnibus equity incentive plan for the Company ("Omnibus Plan") that will provide the Board with the flexibility of making different forms of equity rewards as part of its need to retain a competitive compensation structure for directors, executives and employees. The Omnibus Plan will be included in the Company's management information circular for the upcoming annual general meeting where shareholder approval will be sought for the plan. The Omnibus Plan and the grants thereunder also remain subject to the approval of the Toronto Stock Exchange ("TSX").

Subject to shareholder approval at the AGM and TSX approval.

Also subject to shareholder and TSX approval of the Omnibus Plan the Board has agreed to issue up to 2,000,000 incentive stock options to purchase 2,000,000 common shares in the Company to Mr. Worland.

LeadFX Announces Extension of Sentient Loan

PERTH, Australia, Feb. 27, 2018 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) is pleased to announce it has entered into an amendment ("Amendment") to the second amended and restated credit agreement with Sentient Global Resources Fund IV, LP ("Sentient") to extend the maturity date for re-payment of the indebtedness outstanding to Sentient ("Sentient Loan").

The Sentient Loan will now mature on the earlier of March 31, 2019 or financial close being achieved for the financing of the planned 70,000 tpa Hydrometallurgical Facility at the Company's 100% owned Paroo Station Lead Mine in Wiluna, Western Australia. It will continue to incur interest at 10% per annum until its maturity. The Amendment is subject to the Company receiving approval from the Toronto Stock Exchange.

Financial close is defined as being the date on which the Company has demonstrated it has fully funded the Hydrometallurgical Facility and conditions to first drawdown on debt facilities, if any, for the construction of the Hydrometallurgical Facility have been met.

Commenting on the extension LeadFX CEO Mr. Andrew Worland stated "Sentient has shown tremendous support to the Company's activities over a considerable period of time and this extension further underlines their commitment to providing the optimal conditions for further equity value to be generated for all shareholders."

As at February 28, 2018 (the previous maturity date) the Sentient Loan would total $16,148,326.

LeadFX's comment period on Paroo lead mine closes

2018-02-12 09:15 ET - News Release


Mr. Andrew Worland reports

LEADFX ANNOUNCES EPA LEVEL OF ASSESSMENT PUBLIC COMMENT PERIOD CLOSES

LeadFX Inc.'s seven-day public comment period on the level of assessment for the proposed 700,000-tonne-per-year lead ingot Paroo Station lead mine hydrometallurgical facility has closed.

The hydrometallurgical facility would be built adjacent to the existing concentrator plant at Paroo Station.

The seven-day public comment period is an important part of the Western Australian Environmental Protection Authority's (EPA) environmental "level of assessment" phase under part 4 of the Environmental Protection Act 1984.

The EPA is expected to set the level of assessment, which guides the hydrometallurgical facility approval timeline, during March, 2018.

In January, 2018, the hydrometallurgical facility environmental referral document (referral) was filed with the EPA and made available to the public on Feb. 5, 2018.

The referral describes the key environmental factors relevant to the construction and operation of the proposed hydrometallurgical facility including the expansion to the mining footprint.

In preparing the referral, management undertook comprehensive stakeholder engagement -- meeting directly with all 20 local government representatives impacted by activities already approved under existing environmental conditions for operations at Paroo Station, various state regulators including the EPA, Department of Water and Environmental Regulation, Department of Mines Industry Regulation and Safety, and community groups.

The EPA assessment process is the Western Australian State governments primary approval for the hydrometallurgical facility. In parallel, secondary licensing approvals with various key decision-making authorities of the state government are also being progressed.

Final definitive feasibility study reports for the hydrometallurgical facility are being collated with the results expected to be published in the coming weeks.

About LeadFX Inc.

LeadFX is a Toronto Stock Exchange-listed, Australian-based mining company focused on the development of its lead and lead-silver projects located in Australia and North America. The company's primary undertaking is the Paroo Station lead mine. The company also owns an 83.5-per-cent interest in the Burin mines and surrounding land claims in the Tintic mining district 60 miles southeast of Salt Lake City, Utah, and exploration interests in the Amber mineral belt in Alaska.

We seek Safe Harbor.

LeadFX closes final tranche of $1.16M private placement

2018-01-12 14:44 ET - News Release


Mr. Andrew Worland reports

LEADFX CLOSES TRANCHE 2 OF PRIVATE PLACEMENT

LeadFX Inc. has closed the second of two tranches of its non-brokered private placement for the issue of up to 2,374,301 units, each unit comprising one common share of the company and one common share purchase warrant for each one common share issued.

Sentient Global Resources Fund IV LP has purchased 576,777 units and InCoR Energy Metals Ltd. has purchased 610,374 units in this second tranche.

The units are being issued at 49 cents per unit for gross proceeds of $1,163,407. Each warrant entitles the holder thereof to purchase one additional common share at a price of 61 cents any time within 60 months of completion of the applicable tranche of the offering.

The common shares sold are subject to a four-month hold period under applicable Canadian securities laws.

Proceeds from the offering will be used for general corporate and working capital purposes.

At the completion of this tranche of the offering, Sentient and InCoR will own 80.5 per cent and 6.5 per cent respectively of the issued and outstanding common shares of LeadFX.

About LeadFX Inc.

LeadFX is a Toronto Stock Exchange-listed, Australian-based mining company focused on the development of its lead and lead-silver projects located in Australia and North America. The company's primary undertaking is the Paroo Station lead mine. The company also owns an 83.5-per-cent interest in the Burin mines and surrounding land claims in the Tintic mining district 60 miles southeast of Salt Lake City, Utah, and exploration interests in the Amber mineral belt in Alaska.

LeadFX does not say why stock is up

2018-01-09 12:13 ET - News Release


Mr. Andrew Worland reports

LEADFX UNAWARE OF ANY MATERIAL CHANGE

At the request of the Investment Industry Regulatory Organization of Canada (IIROC), LeadFX Inc. has confirmed that it is not aware of any material, undisclosed information related to the company that would account for the recent increase in the market price and level of trading volume of its common shares.

About LeadFX Inc.

LeadFX is a Toronto Stock Exchange-listed, Australian-based mining company focused on the development of its lead and lead-silver projects located in Australia and North America. The company's primary undertaking is the Paroo Station lead mine. The company also owns an 83.5-per-cent interest in the Burin mines and surrounding land claims in the Tintic mining district 60 miles southeast of Salt Lake City, Utah, and exploration interests in the Amber mineral belt in Alaska.

LeadFX closes mining data sale to Valhalla

2017-12-19 16:51 ET - News Release


Mr. Andrew Worland reports

LEADFX SELLS NORTH 67 MINERAL CLAIMS MINING DATA

LeadFX Inc. has closed on a transaction to sell its mining data associated with the mineral claims owned by its 100-per-cent-owned subsidiary, North 67 Inc., to Valhalla Mining LLC.

The total consideration for the sale of the data is $2-million, of which $100,000 in cash has been remitted to LeadFX.

A further $400,000 is due and payable on or before June 8, 2018, in cash or shares in a company listed on the Toronto Stock Exchange, the TSX Venture Exchange, or another recognized exchange or quotation system that owns or controls Valhalla, or to which Valhalla has assigned or granted rights in and to the data.

The remaining $1.5-million consideration is payable in cash or shares within 120 days of the date of commencement of commercial production from the area covered by any of the mineral claims from a mine found, explored or developed by Valhalla using the data.

About LeadFX Inc.

LeadFX is a Toronto Stock Exchange-listed, Australian-based mining company focused on the development of its lead and lead-silver projects located in Australia and North America. The company's primary undertaking is the Paroo Station lead mine. The Paroo Station lead mine is located 30 kilometres west of the town of Wiluna in Western Australia. The company also owns an 83.5-per-cent interest in the Burin mines and surrounding land claims in the Tintic mining district 60 miles southeast of Salt Lake City, Utah, and exploration interests in the Amber mineral belt in Alaska.

LeadFX closes first tranche of financing

2017-12-19 16:43 ET - News Release


Mr. Andrew Worland reports

LEADFX CLOSES TRANCHE 1 OF PRIVATE PLACEMENT

Further to the company's news release dated Dec. 14, 2017, LeadFX Inc. has closed the first of two tranches of its non-brokered private placing for the issue of up to 2,374,301 units, each unit comprising one common share of the company and one common share purchase warrant for each one common share issued.

Sentient Global Resources Fund IV LP has purchased 576,777 units and InCoR Energy Metals Ltd. has purchased 610,373 units in this first tranche.

The units are being issued at 49 cents per unit for gross proceeds of $1,163,407. Each warrant entitles the holder thereof to purchase one additional common share at a price of 61 cents any time within 60 months of completion of the offering.

The common shares sold are subject to a four-month hold period, which, under applicable Canadian securities laws, expires on April 20, 2018.

The second tranche of the offering is due to be completed on or before Jan. 12, 2018.

Proceeds from the offering will be used for general corporate and working capital purposes.

At the completion of this tranche of the offering, Sentient and InCoR will own 81.4 per cent and 5.2 per cent, respectively, of the issued and outstanding common shares of LeadFX.

LeadFX Private Placement Offering

Canada NewsWire

PERTH, Australia, Dec. 14, 2017

PERTH, Australia, Dec. 14, 2017 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX ") (TSX: LFX) today announces that it has entered into a binding term sheet with Sentient Global Resources Fund IV, LP ("Sentient") and InCoR Energy Materials Limited ("InCoR") for the issue of up to 2,374,301 units, each unit being comprised of one (1) common share of the Company ("Common Share") and one (1) Common Share purchase warrant for each one (1) Common Share issued (hereinafter, a "Unit").

Subject to TSX approval, the Units shall be issued at $0.49 per Unit by way of non-brokered private placement for gross proceeds of approximately $1,163,407 (the "Offering"), in two separate tranches of approximately 1,187,150 Units each as detailed below. Each warrant will entitle the holder thereof to purchase one (1) additional Common Share at a price of $0.61 any time within 60 months of completion of the Offering.


Proceeds from the Units will be applied toward general corporate and working capital needs of the Company.

Tranche 1 of the Offering is expected to close on or before December 20, 2017 and Tranche 2 of the Offering is expected to close on or before January 12, 2018.

Subscription Agreements for Tranche 1 Units have been executed by Sentient and InCoR. Completion of Tranche 1 is conditional upon no order, ruling or decision being issued or granted by a court or regulatory or administrative authority that has the effect of precluding or restricting the issuance or trading of the Common Shares, or that affects any person or company who engages in such a trade, the receipt of all regulatory approvals including, but not limited to TSX approval and customary conditions for an offering of this type. Completion of Tranche 2 is conditional upon the same conditions as Tranche 1 and negotiating and the execution and delivery of into definitive legal agreements.

Following completion of the Offering Sentient and InCoR will hold approximately 80.5% and 6.5% of the issued and outstanding Common Shares, respectively.

LeadFX to complete Paroo Station DFS in December

2017-11-20 19:30 ET - News Release


Mr. Andrew Worland reports

PAROO STATION LEAD MINE AND CORPORATE AFFAIRS UPDATE

LeadFX Inc. has provided an update on the status of the definitive feasibility study for a proposed hydrometallurgical facility at the company's 100-per-cent-owned Paroo Station lead mine in Western Australia and its corporate affairs. (All dollar amounts are in U.S. dollars unless otherwise indicated )

Paroo Station Lead Mine - 70,000tpa Hydrometallurgical Facility Definitive Feasibility Study

InCoR Energy Materials Limited is financing the completion of a definitive feasibility study into the technical and financial viability of producing up to 70,000 tonnes per annum of lead ingots from the Paroo Station lead mine ("DFS"). Lead ingots would be produced from a special purpose hydrometallurgical facility to be built on site, adjacent to the existing concentrator facility, treating the flotation concentrate to produce lead ingot.

The DFS is being prepared by global engineering and construction firm SNC-Lavalin (TSX: SNC) out of their Perth office. The preparation of the DFS has advanced with DFS-level engineering, design and estimation nearing completion, subject to the remaining test work programs.

A variability test work program designed to simulate the life of mine concentrate feed to the hydrometallurgical facility has commenced. A hydrometallurgical pilot plant has been assembled at ALS Metallurgy laboratory premises in Balcatta, Perth to simulate the ore to finished product flowsheet. A 20t bulk ore sample has been delivered from site and a pilot flotation circuit has been used to prepare concentrates for the pilot plant. The pilot plant will treat these concentrates to produce lead cathode over a period of up to two weeks, expected to commence on or around November 23, 2017. Accordingly, management expects the DFS to be completed later in December 2017.

The existing mine is fully permitted to mine and produce lead concentrates and to transport those concentrates to the port of Fremantle, Western Australia for export. LeadFX management has met with representatives from the Office of Environmental Protection Authority ("EPA") to discuss the permitting process for the hydrometallurgical facility and proposed mine expansion, and plan to submit referral documentation in January 2018 to allow the EPA and other regulatory agencies to commence their assessment process.

Corporate Affairs

In August 2017 LeadFX announced that each of Enirgi Group Corporation ("Enirgi Group") and Enirgi Group Services Australasia Pty Ltd, a wholly owned subsidiary of Enirgi Group, had provided the Company and Rosslyn Hill Mining Pty Ltd ("RHM) - owner of the Paroo Station lead mine - respectively notice to terminate their respective management services agreements following a transition period of up to 90 days. The transitional period concludes today November 20, 2017.

The management of LeadFX has now been relocated to Perth to reflect the increasing focus of the Company on the re-start process for the Paroo Station lead mine. All corporate, finance, investor relations, regulatory affairs and administration functions are based out of Perth. Moreover, each of the Company's key technical service contributors to the Paroo Station lead mine DFS and its operations are within short distance of key management. LeadFX's head office and mailing address is now: Suite 1D, 21 Teddington Street, Burswood, Perth, Western Australia 6100.

A number of office holders of LeadFX have either ended or end their association with LeadFX today including the Company's Chief Financial Officer Mr. Lincoln Greenidge. The position of Chief Financial Officer will be filled on an interim basis by Mr. Michael Roach who is expected to commence with LeadFX on 18 December 2017. Michael is a CPA with a Bachelor of Commerce degree from Curtin University in Perth. Michael has worked for RHM on two previous occasions and understands the Company's finance and accounting systems well. We look forward to Michael joining the Company. The Board of Directors thanks Lincoln for his dedicated service to LeadFX and wishes him every success for the future.

Commenting on the transition Chief Executive Officer Andrew Worland stated "I would like to thank the Enirgi Toronto and Melbourne teams, in particular my predecessor Rob Scargill, for the highly professional way in which they have undertaken the transition of management services and handover of corporate, financial, investor and regulatory affairs knowledge. Without exception staff have been very gracious with their time and I wish each of them well.

North American lead assets

The Company has a majority ownership position in Chief Consolidated Mining Company ("Chief"), and Chief owns mining properties in the State of Utah, United States. Chief has entered into an agreement with the Utah Division of Oil, Gas and Mining to extend the mining permits on properties owned by Chief and associated with the historic Burgin mines in the Tintic District in Utah. The Company is considering ways to monetize or divest its investments in the region. LeadFX has received expressions of interest from a number of parties to participate in the future development plans for the properties. In the week beginning November 6, 2017 the Company hosted some of these parties on site as they undertook initial due diligence.

Strategic Focus

Management's focus is geared toward bringing the Paroo Station lead mine into production as a lead ingot producer in the shortest possible timeframe. Key tasks required to achieve this include, but are not limited to:

Completing and release the results of the hydrometallurgical facility DFS and a new life of mine economic model for the Paroo Station lead mine;
Initiate value engineering on improvement opportunities identified in the DFS;
Expedite the approvals process for the hydrometallurgical facility;
Manage and secure the Company's working capital position through June 2018 and beyond, including refinancing of the existing secured debt due to Sentient on 28 February 2018;
Subject to the outcomes of the DFS and working capital availability, commence early works and procurement of long lead items;
Securing full project financing for the hydrometallurgical facility.
About LeadFX

LeadFX is a Toronto Stock Exchange listed ("LFX"), Australian based, mining company focused on the development of its lead and lead-silver projects located in Australia and North America. The Company's primary undertaking is the Paroo Station lead mine. The Paroo Station lead mine is located 30km west of the town of Wiluna in Western Australia (refer Figure 1). The Company also owns an 83.5% interest in the Burin mines and surrounding land claims in the Tintic mining district 60 miles south-east of Salt Lake City, Utah and exploration interests in the Amber Mineral belt in Alaska.

The Paroo Station lead mine has been on care and maintenance since January 2015 (refer Figure 2). A dedicated staff of plant operators and technicians have undertaken consistent structural and integrity checks of plant and equipment, run mills at regular intervals and maintained the flotation tanks ensuring the plant can be re-started and brought back to pre-closure production levels within months.

We refer readers to the Company's Annual Information Form dated February 23, 2017 as filed on SEDAR (wwww.sedar.com) and the Company's website www.leadfxinc.com for details of historical production performance for the Paroo Station mine and the NI43-101 Technical Report on the Paroo Station Lead Carbonate Mine, Wiluna, Western Australia dated March 10, 2015 for prepared by SRK Consulting (Australasia) Pty Ltd for details on Mineral Resources.

LeadFx investor InCoR acquires 964,031 shares

2017-10-27 18:42 ET - News Release


Mr. Kyler Wells of InCoR Energy reports

INCOR ENERGY MATERIALS LIMITED: EARLY WARNING REPORTFILED PURSUANT TO NATIONAL INSTRUMENT 62-103

This press release is being disseminated as required by National Instrument 62-103, The Early Warning System and Related Take Over Bids and Insider Reporting Issues, in connection with the acquisition of securities of LeadFX Inc. by InCoR Energy Materials Ltd. (the acquiror, together with InCoR Technologies Ltd.).

The acquiror announces that, on Oct. 27, 2017, LeadFX issued to the acquiror 964,031 common shares, representing approximately 2.4 per cent of the issued and outstanding common shares. The common shares were acquired on a private placement basis at a price of 80 cents per common share for gross cash consideration of $771,225. Prior to the transaction, InCoR held 642,688 common shares and warrants to acquire up to 28.75 million common shares of the company, representing approximately 43.1 per cent of the issued and outstanding common shares (assuming full exercise of the warrants). After giving effect to the acquisition of the securities under this placement, and assuming the full exercise of the warrants and no additional issuances of common shares, InCoR would own an aggregate of 30,356,719 common shares of the issuer, representing approximately 43.3 per cent of the outstanding common shares, expressed on a non-diluted basis. The securities were acquired on a private placement basis by InCoR for investment purposes, and InCoR may, depending on market and other conditions, increase or change its beneficial ownership over the common shares or other securities of the company through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. A copy of the early warning report filed under applicable securities laws is available under the company's profile on SEDAR. A copy of such report may also be obtained by contacting DS Lawyers Canada LLP, the acquiror's Canadian legal counsel, at kwells@dsavocats.ca. As disclosed on its SEDAR profile, LeadFX's head office is located at 1 Adelaide St. E, Suite 3001, Toronto, Ont., M5C 2V9. The name and address of the acquiror filing the report is InCoR Energy Materials Ltd., Jocelyn Bennett, 12 Upper Berkeley St., London, W1H 7QD, United Kingdom.

LeadFX loses $2.93-million (U.S.) in Q3

017-10-24 19:04 ET - News Release

Ms. Jessica Helm reports
LEADFX REPORTS THIRD QUARTER 2017 RESULTS
LeadFX Inc. has released its results for the third quarter ended Sept. 30, 2017. (All dollar amounts are in U.S. dollars unless otherwise indicated . This release should be read in conjunction with the company's unaudited financial statements for the quarter ended Sept. 30, 2017, and management's discussion and analysis found on the company's website or on SEDAR.) In the third quarter, the company incurred a net loss of $2.9-million, or eight cents per share, which is 2 per cent higher compared with the same period in 2016.
As the Paroo Station mine was in care and maintenance in both periods, costs were broadly comparable in both periods except for a lower impairment of inventory, net of reversals related to gas stocks, which were no longer held in the third quarter, and lower management services fees. Foreign exchange is principally incurred on accounts payable balances denominated in Canadian and Australian dollars. Prior to July 19, 2016, borrowings were also denominated in Canadian dollars. Refer to the borrowings section of the corresponding management's discussion and analysis of results of operations and financial condition for the quarter ended Sept. 30, 2017, for further information.

During the third quarter, Sentient Executive GP IV Ltd. (for Sentient Global Resources Fund IV LP) agreed to refinance its outstanding secured and unsecured debt obligations under the bridging facility (as defined below) and notes (as defined below), and extend the maturity date for repayment of the outstanding indebtedness owing to Sentient IV to Feb. 28, 2018, pursuant to the amended and restated bridging facility (as defined below).
On Aug. 29, 2017, LeadFX entered into a binding term sheet (as defined below) with Sentient IV and InCoR Technologies Ltd. and InCoR Energy Materials Ltd. for the issue of up to 3,125,000 common shares of the corporation at 80 Canadian cents per common share by way of a non-brokered private placement for gross proceeds of approximately $2.5-million (Canadian) to close in two separate tranches. On Aug. 31, 2017, the company closed the first tranche of the offering whereby Sentient IV purchased 607,312 common shares and InCoR purchased 642,688 common shares for gross proceeds of $1-million (Canadian). The company anticipates closing tranche 2 of the offering on or before Oct. 31, 2017.
Paroo Station is on full care and maintenance, and, as a result, additional financing will be required to meet the company's strategic growth plans, continuing costs and loan commitments.

Operational
During the third quarter of 2017, the company underwent management and board changes. Robert Metcalfe, Peter Robson, David Ming Qi and Wayne Richardson resigned from the board of directors of the company. The board is currently composed of David Warner (chairman), Michel Marier and David Dreisinger. In addition, on Aug. 18, 2017, Enirgi Group Corp. and Enirgi Group Services Australasia Pty. Ltd., formerly Enirgi Metals Group Pty. Ltd. (EGS), a wholly owned subsidiary of Enirgi Group, provided LeadFX and Rosslyn Hill, respectively, notice to terminate their respective management services agreement, following a transition period of up to 90 days. The transition process is under way and expected to be completed by no later than Nov. 20, 2017. As part of that process, effective Oct. 1, 2017, Andrew Worland was appointed the new chief executive officer and corporate secretary of LeadFX. The company will consolidate its project management, finance, corporate and administrative functions out of its Perth office.
As a result of efforts made in the first quarter, on May 12, 2017, and subsequently updated on June 19, 2017, the company announced that the board approved entering into an arm's-length transaction with InCoR related to the transfer of lead hydrometallurgical processing technologies to LeadFX for the initial development of a lead hydrometallurgical processing facility at Paroo Station pursuant to the terms and conditions of a definitive umbrella agreement dated June 20, 2017, between InCoR and the Sentient group of global resource funds.
The new lead processing technology has the potential to transform Paroo Station from a relatively short-life, moderate-risk lead concentrate operation to a longer-life, lower-cost, lower-risk lead metal producer. This in turn will provide a significant production platform on which to build a world-class lead resources business through the application of InCoR's oxide and sulphide technology at other mining projects and further development for application for other purposes including lead recycling.
Highlights of the transaction include:

SNC-Lavalin Australia Pty. Ltd. been contracted by InCoR to prepare a definitive feasibility study (DFS) on a lead hydrometallurgical processing facility at Paroo Station at InCoR's sole cost.
Success criteria for the DFS include a near tripling of Paroo Station gross operating cash flow after capital expenditure to $450-million and a mine life of 10 years or more.
There is no cost or dilution to LeadFX if DFS fails to meet the success criteria.
LeadFX will have exclusive right to use and sublicense InCoR's lead processing technologies worldwide.
Following finalization of definitive documentation, on Aug. 14, 2017, InCoR was issued two separate common share purchase warrants to acquire (in the aggregate) up to 28.75 million common shares in the capital of LeadFX with 80 per cent exercisable only on delivery of a successful DFS and 20 per cent exercisable only on securing environmental approvals to construct a hydrometallurgical processing facility at Paroo Station.

InCoR transaction and Paroo Station
Lead hydrometallurgical technology
InCoR holds: (i) an exclusive licence from BASF SE related to patented hydrometallurgical technology for recovering lead from a mixed oxide material; and (ii) an exclusive licence from the University of British Columbia related to patented hydrometallurgical technology for recovering lead from a lead material including lead sulphide, both of which utilize methane sulphonic acid as a leaching agent.
Terms of the transaction
Pursuant to the terms of the agreement, InCoR will undertake and pay for a DFS for the development of a lead hydrometallurgical processing facility at Paroo Station using the oxide technology. SNC-Lavalin will be contracted by InCoR to perform the DFS. The estimated cost of the DFS and associated works is $5-million, which will be financed solely at InCoR's cost.
Pursuant to the agreement, on Aug. 14, 2017, LeadFX issued the warrants to InCoR to acquire (in the aggregate) up to 28.75 million common shares, which, on a pro forma transaction basis, represent approximately 42.9 per cent of the outstanding common shares, expressed on a non-diluted basis. The warrants will be exercisable for no additional consideration, on and subject to the occurrence of the following triggering events:

Eighty per cent of the warrants (23 million common shares) are to be exercisable only on completion of the independent DFS (as described below) fully financed by InCoR. The DFS will be deemed to be completed and successful if, and only if, it meets strict criteria, including: (i) a demonstrable Paroo Station life of mine of no less than 10 years, and (ii) Paroo Station life-of-mine gross operating cash flows minus facility capital expenditures of no less than $450-million. Upon the successful completion of the DFS and the exercise of 80 per cent of the warrants, InCoR will transfer the technology and the rights thereto to LeadFX.
The remaining 20 per cent of the warrants (5.75 million common shares) are to be exercisable only upon receipt of definitive environmental approvals by LeadFX to construct a lead hydrometallurgical processing facility at Paroo Station.

In connection with the transaction, the company nominated an InCoR representative to the LeadFX board, Dr. David Dreisinger, who was elected at the annual meeting of shareholders on June 28, 2017. Following the delivery of a successful DFS, the company will nominate a second InCoR representative to the LeadFX board.
Definitive feasibility study
The DFS is being prepared by SNC-Lavalin, a world-renowned engineering and construction firm independent of the company and InCoR.
As part of the work being performed for the DFS, a drill sampling program has been completed at Paroo Station to test the oxide technology on various ore types. With the drill sampling complete, InCoR also completed variability testing of the oxide technology on the various ore types. InCoR anticipates that the DFS will be completed in the fourth quarter. Until the DFS is complete, the company cannot provide any assurances with respect to the outcomes of the DFS, including whether the construction of a hydrometallurgical processing facility at Paroo Station would be technically or economically feasible or would increase the mine life.
While InCoR is undertaking the DFS, InCoR has convened a committee which includes a representative of LeadFX to meet monthly and hear reports from InCoR on the progress of the DFS and provides other representatives with the opportunity to ask questions about its progress.
Rationale and background to the transaction
The transaction is anticipated to benefit all LeadFX shareholders. If the DFS is positive, LeadFX will hold a significantly more attractive project at Paroo Station, with the opportunity to increase the mineral reserves, extend Paroo Station's operating life, reduce the cost structure, eliminate the sensitivities associated with transporting lead concentrate and reduce the risk of future shutdowns. Additionally, following InCoR's transfer of technology to LeadFX, LeadFX will also hold lead technology rights (through the technology) that have the potential to be deployed on a range of future projects and strategic endeavours, including lead recycling. InCoR is expected to contribute significant expertise in mineral processing that will support the value to be created at Paroo Station and the deployment of the transferred technology for other purposes.
As of the date hereof, Paroo Station remains in care and maintenance. The transaction offers an opportunity to fundamentally alter Paroo Station's life of mine and economics, which, in management's view, would increase the likelihood of a successful and profitable restart and improve the financing options in respect of Paroo Station. Accordingly, a decision on a mine restart using the existing concentrate production technology is expected to be deferred until completion of the DFS.
InCoR shall receive no consideration from LeadFX if the DFS is unsuccessful.
Burgin mine
The company secured a five-year extension to the mining permit at the Burgin mine. The company owns approximately 83 per cent of Chief Consolidated Mining Company, which owns the historical Burgin lead-silver-zinc underground mine near Eureka, Utah. The company considers the Burgin mine to be a potential brownfield development opportunity in the future.
North 67 Alaskan mining claims
The company has undertaken a review of the mining tenements held by North 67 in light of its current financial condition and its priority of supporting the completion of the DFS for Paroo Station as part of the transaction with InCoR. In particular, North 67 is required to pay rental and other prescribed fees by Nov. 30, 2017, to maintain the mining claims for the coming year; otherwise, the claims will be deemed abandoned by operation of law.
Liquidity and financial condition
Operating activities
Cash used in operating activities in the current period was $200,000 (16 per cent) lower than in the third quarter of 2016, primarily due to lower care and maintenance costs.
Investing activities
There have been no investing activities during the third quarter. There were no investing activities during the same period in the prior year, apart from interest received on restricted cash pertaining to bank guarantees for gas supply contracts.
Financing activities
Financing activities were $798 in the current period compared with $986 in the same period in 2016. The 2016 amount pertains to the $1.0 from the notes in the third quarter, partially offset by finance lease payments.
Private placement
On Aug. 29, 2017, LeadFX entered into a binding term sheet with Sentient IV and InCoR for the issue of up to 3,125,000 common shares of the company at 80 Canadian cents per common share by way of a non-brokered private placement for gross proceeds of approximately $2.5-million (Canadian), to close in two separate tranches. Pursuant to the binding term sheet, Sentient IV and InCoR have agreed to purchase no fewer than 607,312 and 642,688 common shares, respectively, under the first tranche of the offering and no fewer than 910,969 and 964,031 common shares, respectively, under the second tranche of the offering.
The first tranche of the offering closed on Aug. 31, 2017, for gross proceeds of $1-million (Canadian), with the second tranche of the offering expected to close on or before Oct. 31, 2017. Proceeds of the first tranche were used for general corporate purposes and working capital needs of the company based on an agreed schedule of budgeted expenditure, and proceeds of the second tranche will be determined by InCoR and Sentient IV pursuant to the budgeted expenditure needs of the company closer to the time of the second tranche closing. The closing of the offering is subject to certain conditions, including receipt of final approval of the Toronto Stock Exchange, and subject to certain exceptions, LeadFX not to issuing any additional common shares for a period of four months after the closing date of the offering without the prior written consent of Sentient IV and InCoR.
Following completion of the offering, Sentient IV and InCoR will hold approximately 82.3 per cent and 3.9 per cent of the issued and outstanding common shares of LeadFX, respectively.
Borrowings
Amended and restated bridging facility
On Jan. 29, 2013, the company entered into a $20-million (Canadian) secured loan facility with Sprott Resources Lending Partnership, bearing interest at 12 per cent per annum secured by the assets of Paroo Station.
On Dec. 18, 2015, Enirgi Group, Sprott and the company entered into an agreement pursuant to which Enirgi Group paid Sprott the outstanding balance owed by the company to Sprott under the Sprott facility resulting in the company owing Enirgi Group $9.6-million (Canadian) ($7.0-million). Pursuant to the agreement, all of the company's obligations to Sprott were extinguished, and Enirgi Group assumed all of Sprott's rights including Sprott's security over Paroo Station. Effective July 19, 2016, Enirgi Group assigned the bridging facility to Sentient IV. The bridging facility was further amended on July 19, 2016, to convert the outstanding principal and accrued interest payable from $10.3-million (Canadian) to $7.9-million (U.S.).
As a result of the decision to place Paroo Station on care and maintenance on Jan. 16, 2015, events of default were triggered under the bridging facility. On June 21, 2016, Sentient IV agreed to forbear from enforcing its rights under the bridging facility until June 30, 2017, and on June 29, 2017, Sentient IV agreed to forbear from demanding repayment of: (i) the principal and accrued interest under the bridging facility, and (ii) the principal amount of $6.5-million under four non-interest-bearing unsecured promissory notes issued by the company to Sentient IV, until July 31, 2017.
On Aug. 1, 2017, Sentient IV entered into an amendment and restatement of the bridging facility with the company, which, among other things: (i) cancelled the notes and added the principal amount of the notes to the outstanding balance owed under the bridging facility with interest accruing on the new principal amount at the pre-existing interest rate of 10 per cent per annum; and (ii) extends the forbearance period and maturity date for repayment of principal and accrued interest to Feb. 28, 2018.
As at Sept. 30, 2017, the company owed $15.5-million under the amended and restated bridging facility to Sentient IV. The amended and restated bridging facility, which is secured against the assets of Paroo Station, bears interest at the rate of 10 per cent with a maturity date of Feb. 28, 2018.
A copy of the amended and restated bridging facility has been filed at SEDAR and is available at SEDAR.
Capital resources, liquidity and working capital requirements
As at Sept. 30, 2017, the company had a working capital deficit of $24.6-million, which included $15.5-million owing to Sentient IV under the amended and restated bridging facility, with a maturity date of Feb. 28, 2018. Neither Paroo Station nor the Chief properties are operational or generating revenue.
Notwithstanding the gross proceeds of the offering received by the company during the third quarter of 2017, the company has limited cash available, other than to meet near-term obligations, and will require additional financing in the near term. The company's ability to continue as a going concern is dependent on a number of factors, including, but not limited to, the company's ability to either: (i) refinance the amended and restated bridging facility, (ii) raise additional funds to meet its debts and obligations as they fall due, or (iii) undertake further transactions which may realize the value of the company and its assets. The company will need to raise funds to pay for its continuing costs of operations and undertake at least one of these aforementioned actions to service its working capital deficiency, meet its commitments to lenders, meet the costs of care and maintenance, meet the costs of any potential future restart of Paroo Station, and meet the costs of bringing the company's mineral projects into production. The amount of any financing requirement will be dependent on several factors, including, but not limited to: the nature of any refinancing of the amended and restated bridging facility, the nature of any additional transactions undertaken by the company, the outcome of further negotiations with the company's lenders, the costs and duration of care and maintenance, the timing and cost of any potential future restart of operations at Paroo Station (subject to a successful DFS), any decision to pursue a hydrometallurgical processing facility at Paroo Station, and the cost of bringing the company's mineral projects into production.

LeadFX appoints Worland as CEO, corporate secretary

2017-09-29 17:07 ET - News Release


Mr. David Warner reports

LEADFX ANNOUNCES THE APPOINTMENT OF ANDREW WORLAND AS CEO

LeadFX Inc. has appointed Andrew Worland as chief executive officer and corporate secretary, replacing Rob Scargill as part of the transition changes resulting from the termination of the management services agreement with Enirgi Group Corp. announced on Aug. 18, 2017.

Mr. Worland is a seasoned mining executive based in Perth, Western Australia, and has over two decades of experience working in senior finance, corporate and project management and marketing roles in the Western Australian mining sector for Australian Securities Exchange- and Toronto Stock Exchange-listed companies. Most recently, he has held the role as general manager and company secretary of ASX-listed Toro Energy Ltd., whose main undertaking is the Wiluna project, located approximately 50 kilometres from LeadFX's flagship Paroo Station mine in Western Australia. In that role, Mr. Worland has overseen the Wiluna project's successful state and federal environmental permitting efforts, and managed Toro Energy's project development team, and corporate, financial and business development activities. Prior to Toro Energy, Mr. Worland was part of the executive team of Moly Mines Ltd., which successfully completed a dual listing on the ASX and TSX in 2006. His commodity experience includes nickel, cobalt, gold and iron ore operations, and marketing molybdenum and uranium. Mr. Worland's appointment will be effective Oct. 1, 2017.

David Warner, chairman of the board, comments: "I would like to thank Rob for all of his hard work and commitment over his tenure with the company. His experience and expertise in the Australian mining industry has been invaluable. I would also like to welcome Andrew as the new CEO. With his extensive background in finance, and mine development and management, he will be an asset to the company as we move forward with our strategic partner, InCoR."

Further to LeadFX's news release dated Aug. 18, 2017, as part of the changes effected by the termination of the management services agreement, the company will consolidate its project management, finance, corporate and administrative functions, and will operate out of its Perth office. The hyrdometallurgical refinery definitive feasibility study (DFS) being undertaken by SNC Lavalin Perth is progressing well and is expected to be completed in the fourth quarter of 2017. Permitting consultation and planning activities with respect to the potential refining operations are under way, and economic evaluations of the most attractive mine restart propositions are being analyzed in conjunction with the DFS and permitting programs.

The LeadFX board is confident that the company is positioning itself well to capitalize on the strengthening base metals sector for all its shareholders and community stakeholders. LeadFX is well supported by its majority shareholder, the Sentient Global Resources Funds, along with its technology and financing partners, InCoR Technologies Ltd. and InCoR Energy Materials Ltd., and a driven project and finance management team in Western Australia.

About LeadFX Inc.

LeadFX is a mining company focused on the development of lead projects located in stable jurisdictions. The company's current portfolio includes a restart-ready lead operation in Western Australia and a development project in Utah. LeadFX trades under the symbol LFX on the Toronto Stock Exchange.

LeadFX closes $1-million first tranche of placement

2017-08-31 18:50 ET - News Release


Mr. Rob Scargill reports

LEADFX ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT OFFERING

Further to the news release dated Aug. 29, 2017, LeadFX Inc. has closed the first tranche of its non-brokered private placement financing for the issue of up to 3,125,000 common shares of the company at 80 cents per common share for gross proceeds of approximately $2.5-million.

The common shares sold under the first tranche are subject to a four-month hold period, which, under applicable Canadian securities laws, expires on Jan. 1, 2018.

Under the first tranche, Sentient Global Resources Fund IV LP has purchased 607,312 common shares, and InCoR Energy Materials Ltd. (InCoR) has purchased 642,688 common shares for gross proceeds of $1-million. Proceeds of the first tranche will be used for general corporate purposes and working capital needs of the company based on an agreed schedule of budgeted expenditure.

The second and final tranche of the offering is expected to close on or before Oct. 31, 2017.

In addition, the company is also pleased to announce the appointment of David Warner as chairman of the board of directors, effective immediately. Mr. Warner is an accomplished and experienced professional accountant and former partner at KPMG LLP, having retired in September, 2010, after 36 years of service. During this time, Mr. Warner worked primarily with public companies in the areas of mining, oil and gas, regulated industries, and real estate. Mr. Warner has extensive board and audit committee experience as an executive and as a director of numerous public and private companies.

"The board and management team are delighted that David has accepted the role of chairman, and we wish him much success in this new role," said Rob Scargill, president and chief executive officer. "David's background in finance and audit and his thorough understanding of the company will provide a steady hand as we transition into the next phase of the company's development."

About LeadFX Inc.

LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Its current portfolio includes a restart-ready lead operation in Western Australia and a development project in Utah, United States. The company continues to seek opportunities at its new properties in North America to underpin future cash flow and growth.

LeadFX arranges $2.5M financing with Sentient, InCoR

2017-08-29 17:37 ET - News Release


Mr. Rob Scargill reports

LEADFX ANNOUNCES PRIVATE PLACEMENT OFFERING

LeadFX Inc. has entered into a binding term sheet with Sentient Global Resources Fund IV LP and InCoR Energy Materials Ltd. for the issue of up to 3,125,000 common shares of the corporation at 80 cents per common share by way of a non-brokered private placement for gross proceeds of approximately $2.5-million, to close in two separate tranches.

Pursuant to the binding term sheet, Sentient and InCoR have agreed to purchase no fewer than 607,312 and 642,688 common shares, respectively, under the first tranche of the offering and no fewer than 910,969 and 964,031 common shares, respectively, under the second tranche of the offering. Proceeds of the first tranche will be used for general corporate purposes and working capital needs of the company based on an agreed schedule of budgeted expenditure, and proceeds of the second tranche will be determined by InCoR and Sentient pursuant to the budgeted expenditure needs of the company closer to the time of the second tranche closing.

"We are pleased to have the ongoing support of our technology partner InCoR and our major shareholder Sentient, as InCoR works towards completing a definitive feasibility study on their innovative hydrometallurgical process," said Rob Scargill, president and chief executive officer. "If the current study work is successful, we believe that the technology has the potential to transform Paroo Station from a relatively short-life lead concentrate operation to a longer-life, lower-cost lead metal producer."

The first tranche of the offering is expected to close on or about Aug. 31, 2017, with the second tranche of the offering expected to close on or before Oct. 31, 2017. The binding term sheet and the closing of the offering are subject to certain conditions, including the negotiation, execution and delivery of definitive legal documents and the receipt of the approval of the Toronto Stock Exchange. As a further condition of the offering, subject to certain exceptions, LeadFX has agreed not to issue any additional common shares for a period of four months after the closing date of the offering without the prior written consent of Sentient and InCoR.

Following the completion of the offering, Sentient and InCoR will hold approximately 82.3 per cent and 3.9 per cent of the issued and outstanding common shares of LeadFX, respectively.

About LeadFX Inc.

LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Its current portfolio includes a restart-ready lead operation in Western Australia and a development project in Utah, United States.

LeadFX issues 28.75 million warrants to InCoR



2017-08-15 18:12 ET - News Release


Ms. Jessica Helm reports

LEADFX ANNOUNCES ISSUANCE OF WARRANTS IN CONNECTION WITH INCOR TRANSACTION

LeadFX Inc. has issued 28.75 million common share purchase warrants following the finalization of definitive documentation and receipt of regulatory approvals relating to the previously announced arm's-length transaction with InCoR Technologies Ltd. and InCoR Energy Materials Ltd.

Pursuant to the transaction, among other things, (a) the company has now issued the warrants to InCoR, and (b) upon completion of a successful definitive feasibility study (DFS) with respect to the initial development of a hydrometallurgical refinery at the company's Paroo Station mine, InCoR will sublicense the technology (defined below) to LeadFX for no additional consideration pursuant to an agreed form of technology transfer agreement.

Warrants

The warrants were issued pursuant to two warrant certificates and will be exercisable, for no additional cash consideration, on the following terms:

80 per cent of the warrants (23 million common shares) are to be exercisable only upon completion of a successful DFS and have an outside expiry date of Aug. 14, 2019. The DFS will be deemed to be completed and successful if and only if it meets strict criteria, and delivers a superior economic outcome for LeadFX, including (i) a demonstrable Paroo Station life of mine of no less than 10 years, and (ii) Paroo Station life-of-mine gross operating cash flows minus refinery capital expenditures of no less than $450-million (U.S.);
The remaining 20 per cent of the warrants (5.75 million common shares) are to be exercisable only upon receipt of definitive environmental approvals by LeadFX to construct a hydrometallurgical refinery at Paroo Station and have an expiry date that is the earlier of (y) the date the DFS warrants expire unexercised and (z) March 20, 2027.
Technology transfer agreement

If the conditions precedent to the exercise of the DFS warrants are satisfied and as consideration for the exercise of the DFS warrants, InCoR shall execute the technology transfer agreement with LeadFX in order to sublicense the Technology to LeadFX. The technology comprise (i) an exclusive licence from BASF SE related to patented hydrometallurgical technology for "recovering lead from a mixed oxide material," which is subject to a granted U.S. patent, and pending applications in Australia, Canada, China, Europe, Japan and Mexico; and (ii) a licence from the University of British Columbia related to patented hydrometallurgical technology for "recovering lead from a lead material including lead sulphide," which is subject to a granted U.S. patent, both of which utilize methane sulphonic acid (MSA) as a leaching agent. Under the terms of the technology transfer agreement, LeadFX will receive an exclusive sublicence of the technology from InCoR and shall be entitled to a further assignment of InCoR's rights in the technology, subject to meeting certain conditions relating to refinancing its current indebtedness and receipt of consent of an assignment from the technology owners. Following execution of the technology transfer agreement, LeadFX will have certain rights and obligations with respect to the use of the technology, which will include, among other things, assuming successful application of the technology to a future LeadFX hydrometallurgical refinery, payment of a technical services fee and payment of a 1-per-cent royalty on all the invoiced sales of MSA to a LeadFX facility. Once executed, the technology transfer agreement will be effective until the last of the technology patents expire, lapse, are abandoned or are held to be invalid subject to certain limited termination rights for InCoR, including failure to make a first commercial shipment using the technology within 10 years, uncured material breach of conditions, or the bankruptcy or insolvency of the company.

Assuming the full exercise of the warrants and no additional issuances of common shares, InCoR would own approximately 42.9 per cent of LeadFX's issued and outstanding common shares, expressed on a non-diluted basis.

DFS update

The DFS is being prepared by SNC-Lavalin Australia Pty. Ltd., at InCoR's cost, to apply the oxide technology to a hydrometallurgical refinery at the Paroo Station mine. Management of the company has been engaged in the past couple of months with InCoR and SNC-Lavalin to assist completion of the DFS. As part of the work being performed for the DFS, a drill sampling program has been completed at the Paroo Station mine to test the oxide technology on various ore types. With the drill sampling complete, InCoR expects to commence variability testing of the oxide technology on the various ore types by the end of August. InCoR anticipates that the DFS will be completed in the fourth quarter.

The oxide technology has the potential to transform the Paroo Station mine from a relatively short-life, moderate-risk lead concentrate operation to a longer-life, lower-cost, lower-risk lead metal producer. This, in turn, will provide a significant production platform on which to build a world-class lead resources business through the application of the technology at other mining projects and further development for application for other purposes including lead recycling. Until the DFS is complete, however, the company cannot provide any assurances with respect to the outcomes of the DFS, including whether the construction of a refinery at Paroo Station would be technically or economically feasible, or would increase the mine life.

A copy of the definitive agreements will be filed with the company's continuous disclosure documents on SEDAR.

About LeadFX Inc.

LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Its current portfolio includes a restart-ready lead operation in Western Australia and a development project in Utah, United States. The company continues to seek opportunities at its new properties in North America to underpin future cash flow and growth.

LeadFX loses $2.7-million in Q2 2017



2017-07-25 17:16 ET - News Release


Ms. Jessica Helm reports

LEADFX REPORTS SECOND QUARTER 2017 RESULTS

LeadFX Inc. has released its results for the second quarter ended June 30, 2017. In the second quarter, we incurred a net loss of $2.7 million, or $0.07 per share, compared to a net loss of $2.5 million, or $0.06 per share, for the second quarter of 2016. (All dollar amounts are in U.S. dollars unless otherwise indicated

As the Paroo Station mine ("Paroo Station") was in care and maintenance in both periods, costs were broadly comparable in both periods except for lower management services fees and foreign exchange fluctuations, which resulted in a $0.1 million loss in the second quarter compared to a $0.2 million gain in the same period of 2016. Foreign exchange is principally incurred on accounts payable balances denominated in Canadian and Australian dollars. Prior to July 19, 2016, borrowings were also denominated in Canadian dollars. Refer to the Borrowings section of the corresponding Management's Discussion and Analysis of Results of Operations and Financial Condition for the quarter ended June 30, 2017 (the "MD&A") for further information.

SECOND QUARTER FINANCIAL AND OPERATING HIGHLIGHTS

During the second quarter, Sentient Executive GP IV Limited (for Sentient Global Resources Fund IV, L.P.) ("Sentient IV") agreed to, among other things, forbear from demanding payment under the Bridging Facility and the Notes (defined below) to July 31, 2017. For further information on the Bridging Facility (defined below) and the Notes, please refer to the MD&A.

Paroo Station is on full care and maintenance and, as a result, additional financing will be required to meet our strategic growth plans, ongoing costs and loan commitments.

Operational

InCoR Transaction and the Paroo Station mine

As a result of efforts made during the quarter, on May 12, 2017, and subsequently updated on June 19, 2017, the Company announced that the Board of Directors of the Company ("the Board") approved entering into an arm's length transaction ("Transaction") with InCoR Technologies Limited and InCoR Energy Materials Limited (together "InCoR") related to the transfer of lead hydrometallurgical processing technologies to LeadFX for the initial development of a lead hydrometallurgical processing facility at Paroo Station pursuant to the terms and conditions of a definitive umbrella agreement dated June 20, 2017 between InCoR and Sentient Group of Global Resource Funds ("Sentient").

Lead Hydrometallurgical Technology:

InCoR holds (i) an exclusive license from BASF SE related to patented hydrometallurgical technology for 'recovering lead from a mixed oxide material' (the "Oxide Technology"), and (ii) an exclusive license from the University of British Columbia related to patented hydrometallurgical technology for 'recovering lead from a lead material including lead sulphide' (the "Sulphide Technology" and together with the Oxide Technology, the "Technology"), both of which utilize methane sulfonic acid as a leaching agent.

The Technology has the potential to transform Paroo Station from a relatively short-life, moderate-risk lead concentrate operation to a longer-life, lower-cost, lower-risk lead metal producer. This in turn will provide a significant production platform on which to build a world-class lead resources business through the application of InCoR's oxide and sulphide technology at other mining projects and further development for application for other purposes including lead recycling.

The Board-approved Transaction is subject to final TSX approval and the negotiation and approval of definitive documentation.

Potential cobalt joint venture

The Company terminated negotiations with Riva Resources Ltd. regarding a farm-in agreement for cobalt exploration on the Company's tenements.

Burgin mine

The Company secured a five-year extension to the mining permit at the Burgin mine. The Company owns approximately 83% of Chief Consolidated Mining Company which owns the historic Burgin lead-silver-zinc underground mine near Eureka, Utah. The Company considers the Burgin mine to be a potential brownfield development opportunity in the future.

LIQUIDITY AND FINANCIAL CONDITION

Operating activities

Cash used in operating activities in the current period was $0.4 million (33%) higher than in the second quarter of 2016, primarily due to an unfavourable foreign exchange rate and higher financing costs.

Investing activities

There have been no investing activities during the second quarter, apart from the release of funds from restricted cash balances upon the expiration of certain gas supply contracts and nominal interest income. There were no investing activities in the same period in 2016 as the Paroo Station Mine was in care and maintenance, other than nominal interest income.

Financing activities

Financing activities for the quarter decreased by $2.5 million when compared to the same period in 2016. The 2016 amount pertains to the $2.5 million unsecured promissory grid note dated April 22, 2016 issued by LeadFX to Sentient IV.

Borrowings

Bridging Facility

On January 29, 2013, the Company entered into a C$20 million secured loan facility (the "Sprott Facility") with Sprott Resources Lending Partnership ("Sprott") bearing interest at 12% per annum secured by the assets of the Paroo Station mine.

On December 18, 2015, Enirgi Group Corporation ("Enirgi Group"), Sprott and the Company entered into an agreement pursuant to which Enirgi Group paid Sprott the outstanding balance owed by the Company to Sprott under the Sprott Facility resulting in the Company owing Enirgi Group C$9.6 million ($7.0 million) (the "Bridging Facility"). Pursuant to the agreement, all of the Company's obligations to Sprott were extinguished and Enirgi Group assumed all of Sprott's rights including Sprott's security over the Paroo Station mine. Effective July 19, 2016, Enirgi Group assigned the Bridging Facility to Sentient Executive GP IV Limited (for Sentient Global Resources Fund IV, L.P.) ("Sentient IV"). The Bridging Facility was further amended on July 19, 2016 to convert the outstanding principal and accrued interest payable from CAD $10.3 million to USD $7.9 million.

As at June 30, 2017, the Company owed $8.5 million under the Bridging Facility to Sentient IV. The Bridging Facility, which is secured against the assets of the Paroo Station mine, bears interest at the rate of 10% with a maturity date of July 31, 2017.

As a result of the decision to place the Paroo Station mine on care and maintenance on January 16, 2015, events of default were triggered under the Bridging Facility. Sentient IV has agreed to forbear from enforcing its rights under the Bridging Facility until July 31, 2017. A copy of the Bridging Facility has been filed at SEDAR and available at www.sedar.com.

Sentient Promissory Notes

On April 22, 2016, the Company issued an unsecured promissory grid note with Sentient IV (the "Promissory Note") for $2.5 million, which at June 30, 2017 is fully drawn down. No interest is payable on the principal amount of the Promissory Note, which must be repaid on July 31, 2017. Sentient IV advanced an additional $1.0 million on August 25, 2016, $1.0 million on November 21, 2016 and $2.0 million on February 21, 2017 pursuant to additional unsecured promissory notes (together with the Promissory Note, the "Notes") with the same terms and maturity as the Promissory Note. Sentient IV has agreed to forbear from enforcing its rights under the the Promissory Note until July 31, 2017.

Capital Resources, Liquidity and Working Capital Requirements

As at June 30, 2017, the Company had a working capital deficit of $23.1 million, which included $15.2 million owing to Sentient IV under the Bridging Facility and Notes, all with a maturity date of July 31, 2017. Neither the Paroo Station mine, the Chief properties nor the North 67 properties are operational or generating revenue.

The Company's ability to continue as a going concern is dependent on a number of factors including, but not limited to, the Company's ability to either (i) refinance the Bridging Facility and Notes, (ii) raise additional funds to meet its debts and obligations as they fall due, or (iii) undertake further transactions which may realize the value of the Company and its assets. The Company will need to raise funds to pay for its ongoing costs of operations and undertake at least one of these aforementioned actions in order to service its working capital deficiency, meet its commitments to lenders, meet the costs of care and maintenance, meet the costs of any potential future restart of the Paroo Station mine and meet the costs of bringing the Company's mineral projects into production. The amount of any funding requirement will be dependent on several factors including, but not limited to, the nature of any refinancing of the Bridging Facility and Notes, the nature of any additional transactions undertaken by the Company, the outcome of further negotiations with the Company's lenders, the costs and duration of care and maintenance, the timing and cost of any potential future restart of operations at the Paroo Station mine and the cost of bringing the Company's mineral projects into production.

There is no guarantee or assurance that the Company will be able to (i) refinance the Bridging Facility and Notes, (ii) secure sufficient financing to fund its commitments to its lenders, the costs of ongoing care and maintenance, the costs of any potential future restart of operations or the costs of bringing its mineral projects into production or (iii) complete any further transactions. If the Company is unable to obtain sufficient funds or repay debts from either one or more of these actions, it would affect its ability to continue as a going concern. A decision to restart the Paroo Station mine will be contingent on several factors including, but not limited to, a sustained recovery in the LME lead price, a reduction in treatment charges and a favorable USD:AUD foreign exchange rate. A decision to commence development of the Company's mineral projects will be contingent on several factors including, but not limited to, commodity prices, the estimated recoverable minerals on the projects, the projected cost to develop these projects and obtaining funding to finance these costs.

These material uncertainties create significant doubt as to the Company's ability to continue as a going concern. The Second Quarter 2017 Financial Statements do not reflect any adjustments to carrying values of assets and liabilities and the reported expenses and balance sheet classifications that would be necessary should the going concern assumption be inappropriate. Such adjustments could be material.

Shares issued and outstanding

As of the date hereof, there were approximately 38.3 million common shares of LeadFX issued and outstanding. In addition, options exercisable for a maximum aggregate of approximately 0.1 million common shares were outstanding.

Management's Discussion and Analysis and Consolidated Financial Statements

LeadFX's unaudited financial statements and MD&A for the three and six months ended June 30, 2017 will be filed today and will be available on SEDAR at www.sedar.com and on the Company's website at www.leadfxinc.com.

About LeadFX

LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Our current portfolio includes a restart-ready lead operation in Western Australia and exploration and development projects in Alaska and Utah, USA. The Company continues to seek opportunities at its new properties in North America to underpin future cash flow and growth. LeadFX trades under the symbol "LFX" on the Toronto Stock Exchange.

We seek Safe Harbor.

LeadFX provides additional details on InCor deal

2017-06-19 17:17 ET - News Release


Ms. Jessica Helm reports

LEADFX ANNOUNCES ADDITIONAL DETAILS REGARDING TRANSACTION WITH INCOR

Further to the announcement of May 12, 2017, LeadFX Inc. has provided additional details regarding its previously announced arm's-length transaction with InCoR Technologies Ltd. and InCoR Energy Materials Ltd., related to the transfer of lead-refining technologies to LeadFX for the initial development of a lead refinery at the company's Paroo Station mine. Except as described herein, the terms of the Transaction remain unchanged from the previous announcement.

Terms of the transaction:

As previously disclosed, pursuant to the terms of a definitive umbrella agreement (the "Agreement"), InCoR will undertake and pay for a Definitive Feasibility Study ("DFS") for the development of a lead refinery at the Paroo Station mine. Upon the successful completion of the DFS, LeadFX will have exclusive rights to use and sub-license InCoR's lead refining technologies worldwide.

The Agreement provides that LeadFX will issue two separate common share purchase warrants (the "Warrants") to InCoR to acquire (in the aggregate) up to 28,750,000 common shares in the capital of LeadFX ("Common Shares"). The Warrants will be exercisable, for no additional consideration, on and subject to the occurrence of the following triggering events:

(a) 80% of the Warrants (23,000,000 Common Shares) (the "Stage 2 Warrant") are to be exercisable only on completion of a successful DFS. The DFS will be deemed to be completed and successful if and only if it meets strict criteria and delivers a superior economic outcome for LeadFX, including (i) a demonstrable Paroo Station life of mine of no less than 10 years, and (ii) Paroo Station life of mine gross operating cash flows minus refinery capital expenditures of no less than US$450 million; and
(b) the remaining 20% of the Warrants (5,750,000 Common Shares) (the "Stage 3 Warrant") are to be exercisable only upon receipt of definitive environmental approvals by LeadFX to construct a lead refinery at Paroo Station.
The aggregate number of Common Shares to be issued after giving effect to the exercise of the Warrants represents approximately 75.2% of the Common Shares currently issued and outstanding (on a non-diluted basis) prior to giving effect to the Transaction. As of the date hereof, InCoR holds nil Common Shares in the Company.

The percentages noted above are subject to change as the Agreement also provides for certain adjustment and anti-dilution provisions in favour of InCoR in the event the Company issues additional Common Shares (or obligations convertible into Common Shares). In particular, unless InCoR elects to participate in any issue by LeadFX of Common Shares or obligations convertible into Common Shares during the term of the Stage 2 Warrant, any such issuance shall result in a further warrant being issued to InCoR at no additional cost, at an effective exercise price of nil, such that InCoR can continue to maintain its pro rata ownership percentage in the Company as described above. In the case of a convertible obligation, the additional warrant would only be exercisable by InCoR if and when such convertible obligation is exercised by the holder(s) thereof. Further details in respect of any additional dilution are provided below.

In respect of the Stage 2 Warrant and the Stage 3 Warrant, no such adjustment will be required for Common Share issuances in aggregate up to a maximum of CAD$2,500,000 (excluding any debt obligations convertible into Common Shares) occurring before the exercise of the Stage 2 Warrant, where InCoR is given the option (whether exercised or not) to participate on the same terms and conditions in such issuance.

In respect of the Stage 3 Warrant, no such adjustment will be required for Common Share issuances (including any debt obligations convertible into Common Shares) occurring after the exercise of the Stage 2 Warrant, where InCoR is given the option (whether exercised or not) to participate on the same terms and conditions in such issuance.

Assuming the full exercise of both the Stage 2 Warrant and the Stage 3 Warrant and no additional issuances of Common Shares, InCoR would own approximately 42.9% of the outstanding Common Shares, expressed on a non-diluted basis. The Company's majority shareholder, Sentient Group of Global Resource Funds ("Sentient") would own approximately 48.6% and the minority shareholders would own approximately 8.5% of the issued and outstanding Common Shares, respectively.

If, during the term of the Stage 2 Warrant, LeadFX either (i) effects an offering of Common Shares for gross proceeds in excess of $2,500,000; (ii) effects an offering of Common Shares for gross proceeds of less than $2,500,000 but does not provide InCoR with a pro rata participation right, or (iii) issues securities convertible into Common Shares in which InCoR chooses not to participate in and which are ultimately converted into Common Shares, then the anti-dilution provisions described above will operate to ensure that, on full exercise of the Warrants, InCoR continues to own approximately 42.9% of the issued and outstanding Common Shares.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aLFX-2481160&symbol=LFX®ion=C

LeadFX announces nominees to the board of directors and details of its annual general meeting of shareholders

06/01/2017
TORONTO, June 1, 2017 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) is pleased to announce its slate of nominees to the board of directors (the "Board") for election at the June 28, 2017 annual general meeting of shareholders (the "Meeting"). The slate is comprised of six current directors and one new nominee.

Messrs. Robert Metcalfe, J. Trevor Eyton, Wayne Richardson, Peter Robson, David Warner and Michel Marier are standing for re-election at the Meeting. Mr. David Ming Qi has decided to retire from the Board and is not seeking re-election at the Meeting. Dr. David Dreisinger is the sole new nominee being proposed for election to the Board at the Meeting.

Dr. David Dreisinger has been a member of the faculty of the Department of Materials Engineering since 1988 and is currently Professor and Chairholder of the Industrial Research and Chair in Hydrometallurgy at the University of British Columbia. He has published over 280 papers and has been extensively involved as a process consultant in industrial research programs with metallurgical companies. Dr. Dreisinger has participated in 21 U.S. patents for work in areas such as lead concentrate processing, pressure leaching, ion exchange removal of impurities from process solutions, use of thiosulfate as an alternative to cyanide in gold leaching, and the Sepon Copper Process for copper recovery from sulfidic-clayey ores. Dr. Dreisinger serves as President and Chief Executive Officer of InCoR Technologies Limited, a director of Search Minerals, Inc. and PolyMet Mining Inc. and as Vice President – Metallurgy for each of Camrova Resources, Inc., Search Minerals Inc., and TriMetals Mining Inc.

Mr. Robert Metcalfe, Chairman of the Board of LeadFX commented: "On behalf of the Board, I would like to thank David Ming Qi for his many contributions and his dedication to the Company during his tenure. His diverse experience across several different industries proved to be a great asset to the Company and we wish him success in his future endeavours. Additionally, I would like to welcome Dr. David Dreisinger to the Board. His extensive metallurgical expertise will be invaluable to LeadFX, particularly in light of the previously announced arm's length transaction with InCoR Technologies Limited and InCoR Energy Materials Limited."

LeadFX's Annual General Meeting of Shareholders

The Meeting is scheduled for 4:00 p.m. (Eastern Time) on Wednesday, June 28, 2017 at:

Offices of Stikeman Elliott LLP
Suite 5300, Commerce Court West
199 Bay Street, Toronto, Ontario M5L 1B9

At the Meeting, shareholders of LeadFX will also be asked to vote on resolutions re-appointing the auditors and authorizing the Board to fix their remuneration.

Management will host a webcast at the Meeting commencing at 4:00 p.m. (Eastern Time) which will include a management presentation. The Meeting will be webcast live on the LeadFX website at www.leadfxinc.com. Webcast dial-in details will be made available on the LeadFX website prior to the Meeting. A webcast replay will remain available after the meeting on the homepage of the LeadFX website at www.leadfxinc.com for approximately 90 days.

The management information circular and other proxy materials for the Meeting will be mailed to shareholders and will be available on SEDAR, www.sedar.com, and under the "Investor Centre" section on the LeadFX website, www.leadfxinc.com, today.

About LeadFX

LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Our current portfolio includes a restart-ready lead operation in Western Australia and exploration and development projects in Alaska and Utah, USA. The Company continues to seek opportunities at its new properties in North America to underpin future cash flow and growth. LeadFX trades under the symbol "LFX" on the Toronto Stock Exchange.

Additional information on LeadFX is available on at SEDAR at www.sedar.com and the Company's website at www.leadfxinc.com

SOURCE LeadFX

LeadFX Inc., Jessica Helm, VP, Corporate Communications, Suite 3001, 1 Adelaide Street East, Toronto, Ontario M5C 2V9, (416) 867 9298, Email: info@leadfxinc.com

Riva Resources updates on drilling, maintains healthy cash balance

Riva Resources (ASX:RIR) has today said that it is disappointed to report that the recently completed drill holes TDD001 and 002 at the Tabac Cobalt–Gold Project failed to return any significant assay results for the range of elements tested.

Jonathan King, managing director, commented: "Riva shares in this disappointment with all shareholders.


"The company perceives laboratory error as the likely source of the elevated results reported from the original ACM drilling.

"However the company has achieved the task it set out to do by definitively answering the validity of the preceding analytical work as best and cost effectively as possible.

"The company retains $2.48 million cash with a portfolio of assets which will continue to be assessed in addition to other investment opportunities as they come to hand.

"We look forward to updating the market of further developments in this regard.

Riva Resources to reveal cobalt assays

Riva Resources (ASX:RIR) has some interesting news pending in the form of results from the drill program at the company’s wholly-owned Tabac Cobalt Gold
Project.

The ASX has granted Riva a trading halt to prepare.


The halt will remain in place until the opening of trade on Friday 2nd June 2017, or earlier if an announcement is made to the market.

Riva Resources sees evidence of cobalt in second hole

Riva Resources (ASX:RIR) has completed its second hole as part of its proof-of-concept drilling at the 100%-owned Tabac Cobalt-Gold Project in Western Australia.

The hole, TDD002, intersected a 102-metre width of the target bubble well member from 192 metres depth.

This hole differs from the earlier hole, TDD001, where Riva’s geologists noted a regional scale hydrothermal alteration and mineralising system.

TDD001 was a twin hole that aimed to confirm a historical intersection at Tabac measuring 80 metres at 0.77% cobalt from 170 metres including 10 metres at 1.47% cobalt.

In hole TDD002, a pink coloured dolomite was observed thought to possibly contain cobalt and/or manganese.

The completed drill holes are in Perth, where they are in the process of being cut and sampled.

The samples are anticipated to be delivered on Friday to the laboratory for expedited analysis.

Riva Resources drills second hole of highly prospective campaign

Riva Resources (ASX:RIR) now has commenced the second diamond hole known as TDD002, which is testing for cobalt mineralisation at the wholly-owned Tabac Cobalt-Gold Project in Western Australia.

The location is 1.75 kilometres west of the first hole TDD001, which aims to confirm a historical intersection at Tabac measuring: 80 metres at 0.77% cobalt from 170 metres, including 10 metres at 1.47% cobalt.

So far TDD001 has intersected similar stratigraphy to the historic hit.

Assays from hole TDD002 and TDD001 will be highly anticipated.

Riva has also mobilsed a reverse circulation rig to site to expedite drilling of pre-collars of additional infill and extensional drill holes.

Riva Resources to update on drilling from Tabac Cobalt-Gold Project

10:30 01 May 2017


Riva Resources (ASX:RIR) has been granted a trading halt by the ASX, pending details regarding the current drill program at the company’s wholly-owned Tabac Cobalt-Gold Project.

The halt will remain in place until the opening of trade on Wednesday 3rd May 2017, or earlier if an announcement is made to the market.

Riva Resources reveals similarities to broad cobalt hit at Tabac

Riva Resources (ASX:RIR) is currently drilling a significant twin diamond hole at its 100%-owned Tabac Cobalt-Gold Project, located in Western Australia.

The twin-hole aims to confirm a historical intersection at Tabac measuring 80 metres at 0.77% cobalt from 170 metres including 10 metres at 1.47% cobalt.

Riva has now intersected similar stratigraphy to that documented in the historical hole, which is on-track to be completed early next week.

The hole is planned to extend through the target carbonate unit, anticipated to be near 150 metres thick.

The entire carbonate interval will be delivered to Perth for petrology and analysis with first assay results expected in mid-May.


Drill program details

After the twin hole is complete, drilling will move to the neighbouring Paroo Station lead mine which is owned by Rosslyn Hill Mining Pty Ltd (RHM).

Riva is close to finalising documentation for an exploration farm-in with RHM.

It will provide access to RHM’s project database and infrastructure and the right to earn 75% of the cobalt, gold and copper mineral rights on RHM’s tenements.

After drilling of the RHM approved program has complete, the rigs will move back to Tabac.


Analysis

The twin hole will conclusively address the historical assays and in turn begin to carve out what could be a new cobalt province.

Assays from the twin hole will be highly anticipated by the market.

Riva’s share price is up 35% in 2017 to $0.023.

Riva Resources commences drilling at cobalt project

11:00 13 Apr 2017

Riva Resources (ASX:RIR) has commenced exploration drilling on its 100%-owned Tabac Cobalt-Gold Project located in Western Australia.

A diamond hole will be drilled adjacent to the historical drill hole PP011 that recorded 80 metres at 0.77% cobalt from 170 metres depth.

The twin hole will be drilled to a depth of 350 metres and will take 7 to 10 days to complete.

Jonathan King, managing director, commented: “The company is well prepared for, and excited by the prospect of twinning hole PP011.

“The results are eagerly awaited for what is perhaps the most anticipated cobalt drill hole in Australia.”


Drill program details

After the twin hole is complete, drilling will move to the neighbouring Paroo Station lead mine which is owned by Rosslyn Hill Mining Pty Ltd (RHM).

Riva is close to finalising documentation for an exploration farm-in with RHM.

It will provide access to RHM’s project database and infrastructure and the right to earn 75% of the cobalt, gold and copper mineral rights on RHM’s tenements.

After drilling of the RHM approved program has complete, the rigs will move back to Tabac.


Analysis

The twin hole will conclusively address the historical assays and in turn begin to carve out what could be a new cobalt province.

Assays from the twin hole will be highly anticipated by the market.

Riva’s share price is up 40% in 2017 to $0.025.

Another turn of the screw for the London lead market:


08:28 EDT, 27 March 2017

By Andy Home
LONDON, March 27 (Reuters) - What you see is not what you get.
This is a truism for any metal stored in London Metal Exchange (LME) warehouses but it is particularly relevant in the lead market right now.
At a headline level there is plenty of metal in the LME storage system, 190,200 tonnes of it. The year-to-date change has been a marginal decline of 4,700 tonnes.
Scratch beneath the surface, though, and things look very different.
After a second major raid on LME lead stocks last week, only 77,925 tonnes of that headline figure are in the form of "live" warrants, available for contract settlement.
All the rest of it, 112,275 tonnes, or 59 percent of the total, are now in the form of cancelled warrants, available for physical load-out but not for LME trading purposes.
This scramble for units leaves the London contract vulnerable to cash-date tightness.
But will paper market tightness be accompanied by physical market tightness? Because that seems to be the rationale for the double-wave of LME stocks grabs this year.

The LME's daily stocks report released last Tuesday (March 21) showed total lead cancellations of 43,625 tonnes, split across the Dutch ports of Vlissingen (33,150 tonnes) and Rotterdam (5,600 tonnes) and the Belgian port of Antwerp (4,875 tonnes).
It followed a similar-sized raid in January with the South Korean port of Busan accounting for the bulk of that month's cancellations.
LME lead stocks have seen this sort of mass cancellation before. Metal departed one location only to reappear in another location a month or so later, a sure sign that warehousing storage costs rather than a physical shortage of units was the primary driver.
This time appears to be different with all the market chatter suggesting that metal is being hoarded in expectation of a tightening physical market.
And, perhaps tellingly, while the January stocks raid was laid at the door of the "usual suspects", namely the handful of trading houses that are involved in physical lead merchanting, the most recent was attributed to a new face on the lead block.
The lead story, it seems, is starting to attract a wider audience.
TIGHTNESS TOMORROW...
LME open tonnage is now at its lowest level since May 2013, when it touched 52,600 tonnes, itself the lowest level since 2009.
This shrinkage in liquid stocks promises more tension across the front part of the LME lead curve.
The benchmark cash-to-three-months spread flexed out to a $25.25 per tonne backwardation at one stage in January.
It ended last week valued at a relatively benign $10.50 contango but further tightness looks to be a question only of time unless exchange stocks rebuild soon.
But what of the physical market?
Lead bulls argue that this too will tighten up later this year, following a similar trajectory to that mapped out for sister metal zinc.
As with zinc, there is already tangible evidence of tightness in the raw materials supply chain. Treatment charges for lead concentrate are currently at multi-year lows of around $20 per tonne, meaning smelters are having to accept wafer-thin conversion margins simply to get in enough material.
And as with zinc, the betting is that this scarcity will translate into a similar shortage of units in the refined lead market.
...BUT NOT TODAY?
Quite evidently, it's not happened yet. If it had, the metal that was cancelled in January would already have been loaded out of the LME system. But it has largely stayed in place, biding its time.
This unfolding bull lead story, mirroring that in zinc, is all about timing. But is it a fast-fuse narrative or a slow burner?
Bulls hoping for the former will take heart from a surprise in the most recent Chinese trade figures for the month of February.
Imports of lead concentrate continued declining over the first two months of the year, attesting to those stresses in the raw materials part of the supply chain
But imports of refined lead also jumped to 9,500 tonnes in February. That may not sound like much but the last time China imported so much refined lead in a single month was in June 2009.
The country has tended to be a small net exporter in the intervening period.
Since China is particularly exposed to any concentrates tightness due to the size of its smelting-refining sector, it's tempting to see this jump in metal imports as a sign that tightness is already being transmitted into the refined market.
One month's data, however, does not a trend make.
There are no obvious red flags that China is running short of lead metal.
Stocks of lead registered with the Shanghai Futures Exchange (ShFE) have risen by 45,450 tonnes since the start of January to a current 74,176 tonnes.
The structure of the Shanghai contract is one of contango through August this year, implying no pressure on spot availability.
And the arbitrage with London which briefly opened to imports prior to the end of 2016 has closed again.
A QUESTION OF SCRAP
The next few months' trade figures out of China will bear close scrutiny.
But there is little to suggest right now that February's import spike is anything other than a fleeting arbitrage-driven phenomenon.
The pressures building in the mine concentrates supply are expected to take longer to feed through into the refined metal market.
As ever with lead, though, bullish expectations could yet be undone by what happens in the secondary (scrap) part of the market.
Scrap metal supply is one of the least visible parts of any industrial metal market. And lead is no exception. The problem with lead, though, is that scrap is such a large component of total supply.
The world's mines produced 4.7 million tonnes of contained lead last year, representing around 42 percent of total usage, according to figures from the International Lead and Zinc Study Group. The gap was filled by secondary lead.
To what extent scrap supply can flex to offset any tightness in the rest of the lead supply chain is perhaps the biggest "known unknown" in the market.
But quite evidently there are several players prepared to bet it can't.

Anglo's Billionaire Investor Puts Mining on Cusp of M&A Era

March 17, 2017, 6:12 AM PDT

Anil Agarwal’s surprise move into Anglo American Plc suggests the mining industry may be on the cusp of a new wave of deals.

For years, Anglo has been the subject of takeover speculation and during the worst of the commodities crisis it seemed on the verge of a breakup. It spent last year getting back on firmer footing, but the 2 billion pound ($2.4 billion) investment by one-time Anglo suitor Agarwal has sparked the return of speculation about the company’s future.

“I’m pretty sure every investment banker in London is running around, dusting off old pitch books and going to every major in town,” Paul Gait, an analyst at Sanford C. Bernstein Ltd. in London, said by phone. “This feels to me a little like the last cycle, when the first mover precipitated a round of consolidation.”

Agarwal’s strategy is still unclear, but $21 billion Anglo has a vast collection of some of the best mining assets in the world. If the assets are split, it would represent the most significant change to the mining industry in years and likely attract rivals including Rio Tinto Group and Glencore Plc.

Anglo shares slipped 0.5 percent to 1,291 pence on Friday, paring yesterday’s 8.6 percent advance.

After a failed approach to merge Hindustan Zinc Ltd. with Anglo last year, Agarwal said the combination was a “good match” and that “one and one wasn’t going to be two, but 11.” The Indian billionaire is known for running a complex web of commodity producers through a holding company, Volcan. It has a controlling stake in Vedanta Resources Plc, which in turn controls Vedanta Ltd. and Hindustan Zinc.

The unusual deal that Agarwal structured to become Anglo’s second-biggest shareholder means the Indian mining tycoon is probably more interested in the assets, than betting on the share price, according to analysts including Amos Fletcher at Barclays Plc.

Agarwal isn’t using his fortune to buy the shares. He’s borrowing from bond investors through a three-year note paying a coupon of 4.125 percent. The structure means he effectively rents the shares until the bond matures, with little benefit from a rising stock price.

“Agarwal is anticipating some sort of action,” said Jeremy Wrathall, head of mining research at Investec Plc. “We’re certainly going to see a new M&A phase in the industry.”

Anglo’s Chief Executive Officer Mark Cutifani told analysts that Anglo hasn’t spoken with Volcan, and would expect to interact with them as any other shareholder, according to a person present at a meeting on Thursday.

“Things are starting to turn and this will be a step in a medium-term play, which others are going to be watching very carefully,” said Raj Khatri, head of metals and mining for Europe at Macquarie Group Ltd. in London.

Among the big miners, there’s a lot of appetite for high quality assets. Rio Tinto and BHP Billiton Ltd. have publicly said they want more world-class copper mines. Rio CEO Jean-Sebastien Jacques said in December that he’d be interested in diamond assets. Anglo American owns an 85 percent stake in De Beers.

Still, there are obvious hurdles to more consolidation. The mining industry is still recovering from a commodities crash of 2015, and investors may be unwilling to support any increase in debt needed for blockbuster deals. Another complication is that Anglo, Rio and BHP are all transitioning to their next chairmen over the next year.

Any takeover or breakup of Anglo would also be politically sensitive across Southern Africa. The biggest shareholder, South Africa’s Public Investment Corp. has repeatedly disagreed with plans to sell assets in the country piecemeal. Botswana, the source of two-thirds of De Beers diamonds, can renegotiate its agreement with the company if ownership changes.

Still, Agarwal’s move is a “fascinating development,” Michael Rawlinson, global co-head of mining and metals at Barclays, said from London. “It’s too early to say whether this move will add to a flurry of potential deals, but this does give the sector some impetus.”

Lead Prices Will Trade At $2,800 By Year’s End

Feb 21, 2017 06:49AM ET

The 3-month London Metal Exchange lead price is still climbing. Source: Fastmarkets.com.
Lead has had a pretty wild ride over the past few months. After a big run in 2016, prices sold off in December, offering buyers a great opportunity to buy the metal as prices pulled back.
Prices are now back near new highs as bulls seem to be taking control again. For reasons we’ll see below, we expect momentum to pick up again on the upside.

According to the International Lead and Zinc Study Group, in 2016 refined lead supply exceeded demand by 11,000 metric tons in the global market.
The refined market is now near balance after seen a 32,000 mt surplus in 2015. In addition, a supply shortfall narrative is developing for this year.

Mine Output Continues to Decline

World lead mine production steadily declines. Source: MetalMiner analysis of ILZSG data.
Although a deficit is still not visible in the refined market, global lead mine output continued to decline last year. In 2016, there was a sharp decrease in Australian lead mine output mainly as a consequence of the closure of the Century mine in 2015 and a 100,000 mt cutback in lead output at some Glencore (LON:GLEN) operations. These reductions were partially balanced by a rise in China resulting in an overall global decline of 1.3%.
Treatment charges, which is what smelters charge miners for transforming raw material into refined metal, are a good indicator of what is happening in the concentrates part of the supply chain. Lead treatment charges have plummeted over the past few months. They are currently below $20 per mt, from $80 just three months ago. In this respect, lead is playing catch-up with its cousin zinc, in which the deficit for refined metal is more obvious.
In 2017 investors will be closely monitoring China’s numbers. The slump in treatment charges and the fact that China must get serious about controlling industrial metals output to solve its pollution problem could result in lower lead refined output this year.
What This Means For Metal Buyers
As with zinc, it might only be a matter of time before the squeeze on raw materials translates into a squeeze on refined metal.
Prices are currently holding well and could be setting up for another rally after digesting last year’s gains. Given the ongoing bullishness across industrial metals, we could see lead hitting $2,800/mt by year-end.

looks like things are starting to happen... news on opening of paroo maybe? or the JV with Riva Resources Ltd.? maybe news on the utah properties? or maybe news on the alaskan mining properties?? not sure what we will hear about first but something soon should be happening.

LEAD TODAY: Forming potential double bottom support

9th March, 2017 10:34 AM by


Analysis

So far, lead is undergoing a pullback after the strong rebound from the December 2016 low at $1,959.00 per tonne to the February 13 high at $2,458.50.
It just broke below the 100 DMA but the 50% Fibo of the December 2016 low–February 2017 high at $2,208 per tonne is acting as nearby support for now.
Should lead prices close higher today, it has the potential to form a rather bullish double bottom formation.
Nearby overhead resistance resides at the 50 and 20 DMAs which are about to complete a cross-over. A break above is likely to relieve some of the selling pressure but should further downside materialise, lead is likely to test the next technical support at the 61.8% Fibo at $2,149.81 per tonne which will coincide with May 2016 low UTL(see chart above).
The daily RSI remains weak and is treading lower at 41.95. Meanwhile, the stochastic fast line has completed a bearish cross-over which indicates decent selling interest.
Against such a technical backdrop, we remain cautiously bearish towards lead prices.
Macro drivers

Risk-off sentiment continues to plague the base metals complex. Prices are off to a weak start due to follow-up selling activity in the early Asian trading session. Lead stands out because it suffered the biggest decline, down 1.6% as of the time of writing and trading as low as $2,203.00 per tonne.

Lead’s net long fund position (NLFP) declined for the third consecutive week. It now stands at 19,132 lots as of March 3 after fresh selling of 1,019 lots which was offset by 406 lots of buying. Given the already low level of gross short positions, money managers may have found value in actively increasing their bearish exposure and this should keep sellers in control. There was buying but the fresh addition reflects the lack of conviction among money managers and it is likely to put lead prices under selling pressure again, we feel.

Tightness has returned to nearby spreads as the previous contango in the cash/three-month has reverted to backwardation of $1.25. The presence of a dominant warrant holder, holding 30-39% of the available warrants, suggests that the metal is held in tight hands. As well, the March contract remains dominated by shorts that collectively hold 50% of open interest. With only four entities and collectively holding just 40%, there are insufficient longs in the market to cover shorts that wish to roll-over their positions.

Premiums were stable but heavily bias to the downside due to the strong LME price which discouraged spot demand. High levels of domestic inventory and the recent ramification of currency demonetisation in India have resulted in weak demand for the metals despite being the busiest month for restocking. Elsewhere in Southeast Asia, things are relatively quiet too with average premiums at $50-90 per tonne for 99.97% and $90-110 for 99.99% lead material.

Other development

Tightness in the concentrate market is rather apparent as Chinese trade data alone showed a 25% decline in concentrate imports in 2016. Shuttered key zinc mines are taking a toll on the overall global output of lead concentrate. TCs remain on low levels and some smelters are processing more scrap as a substitute to concentrates which are becoming scarcer. Higher LME prices have made secondary metals production viable and this is likely to increase supply into the market. But in the event that there are little to no concentrates, the already low TCs are likely to force smelters to reduce production of refined metals and that could be quite constructive for lead prices.
Conclusion

Should lead break below psychological support at $2,200 per tonne, the price action is likely to encourage additional selling momentum which could push the metal lower to test the next support level that sits at the 61.8% Fibo or the May 2016 low UTL (see chart above). At this technical juncture, dip-buyers will need to prove that they have the ability to absorb late selling, consolidate and build support to test higher again.

The short-term fundamental conditions are not supportive either. Total LME stocks saw a sizeable inflow of 675 tonnes in Antwerp and the recent backwardation is likely to encourage more metals into LME-bonded warehouses.

LeadFX Secures $2M in Funding From Majority Shareholder
Canada NewsWire

TORONTO, Feb. 21, 2017

All dollar amounts are in U.S. dollars unless otherwise indicated.

TORONTO, Feb. 21, 2017 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) announced today that it has received a $2 million unsecured, interest-free loan from Sentient Global Resource Fund IV, LP ("Sentient") to help meet its working capital needs.

Unsecured Promissory Note

Sentient has advanced LeadFX $2 million pursuant to an unsecured, interest-free, promissory note (the "Note"), repayable on June 30, 2017 and on the same terms as the prior promissory notes issued by the Company to Sentient. The interest-free advance by Sentient will enable the Paroo Station Mine ("Paroo Station") to remain in a restart-ready state while the Company works through an appropriate financing solution.

Rob Scargill, President and CEO said, "We have made significant progress in the past several months with the positive changes to Paroo Station's key operating conditions and we continue to build on that positive momentum. The additional $2M Note from our supportive majority shareholder provides a significant boost to the Company's working capital position and affords additional time to develop a restart strategy that meets the needs of all our stakeholders."

About LeadFX

LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Our current portfolio includes a restart-ready lead operation in Western Australia and exploration and development projects in Alaska and Utah, USA. The Company continues to seek opportunities at its new properties in North America to underpin future cash flow and growth. LeadFX trades under the symbol "LFX" on the Toronto Stock Exchange.

Forward-Looking Statements

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Examples of forward-looking information in this news release includes but is not limited to statements and information concerning the closing of the loan with Sentient, receipt of necessary approvals for the issuance of the Note, the intended use of proceeds of the Note, the timing for a decision on restart of the Mine, a potential restart of the Mine, the period of time to ramp-up operations at the Mine following any restart decision, the ability to secure restart financing and future LME lead price outlook. Forward-looking statements are often, but not always, identified by the use of words such as ''seek'', ''anticipate'', ''contemplate'', ''target'', ''believe'', ''plan'', ''estimate'', ''expect'', and ''intend'' and statements that an event or result ''may'', ''will'', ''can'', ''should'', ''could'' or ''might'' occur or be achieved and other similar expressions. Forward-looking information by its nature requires assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, and readers are cautioned not to place undue reliance on such information. These statements are based upon certain reasonable factors, assumptions and analyses made by management in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. However, whether actual results and developments will conform with management's expectations is subject to a number of risks and uncertainties, including, uneconomic LME lead prices, treatment charges and/or exchange rates; the inability to meet or refinance our commitments to our current lenders; the inability to meet ongoing costs of care and maintenance and other working capital requirements; the inability to secure restart financing; lack of sufficient demand for our lead carbonate concentrate by an offtake party or other customers; and the inability to secure employees and contractors in a timely manner for a restart. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. These risk factors should be carefully considered and readers are cautioned not to place undue reliance on forward-looking information, which is current only as of the date of this news release. All subsequent forward-looking information attributable to LeadFX herein is expressly qualified in its entirety by the cautionary statements contained in or referred to herein. LeadFX does not undertake any obligation to release publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

SOURCE LeadFX Inc.

LeadFX welcomes Michel Marier to the Board of Directors
Canada NewsWire

TORONTO, Jan. 24, 2017

TORONTO, Jan. 24, 2017 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) is pleased to announce the appointment of Michel Marier as a Director of the Company's Board of Directors, effective immediately. Mr. Marier is an investment manager with The Sentient Group Limited, an independent private equity investment firm which manages over US$2.7 billion in the global resources industry through the Sentient Global Resource Funds ("Sentient").

"We are delighted to welcome Michel as a Director of LeadFX," said Robert Metcalfe, Chairman of the Board of Directors. "Michel brings a wealth of knowledge to the Company as an investment manager for Sentient, the Company's majority shareholder. In addition, his experience overseeing strategic mining investments and his financial acumen will be key assets as we set our focus on a possible restart of the Paroo Station Mine."

Mr. Marier joined Sentient in 2009 as an investment manager. Prior to joining Sentient, Mr. Marier worked for several years in the Private Equity division of la Caisse de dépôt et placement du Québec. Mr. Marier is on the board of directors of 2 public companies and holds a Master's Degree in Finance from HEC Montreal and is also a CFA charterholder.

LeadFX's Rosslyn signs MOU for Paroo mine farm-in, JV



2016-12-19 09:38 ET - News Release


Mr. Rob Scargill reports

LEADFX ANNOUNCES MEMORANDUM OF UNDERSTANDING COVERING COBALT EXPLORATION

LeadFX Inc. today commented on a proposed farm-in and joint venture arrangement recently announced by Riva Resources Ltd. (formerly, Dragon Energy Pty. Ltd.) relating to the exploration of cobalt, gold and copper on the company's mining tenements that cover its Paroo Station mine in Western Australia.

The company's wholly owned subsidiary, Rosslyn Hill Mining Pty. Ltd., has entered into a non-binding memorandum of understanding (MOU) with Riva relating to a farm-in and joint venture that would grant Riva the right to explore for cobalt, copper and gold on the company's mining leases and exploration licences at the Paroo Station mine. Riva is a mining exploration company that holds pending exploration licences on mining tenements adjacent to the Paroo Station mine. Under the terms of the MOU, Riva may earn up to a 75-per-cent interest in any prospective cobalt, gold and/or copper mineral rights discovered on RHM's mining tenements by incurring exploration expenditures totalling $6-million (Australian) over a four-year period. Riva would also grant the company reciprocal rights to explore for lead, zinc and silver minerals on Riva's neighbouring mining tenements on similar terms. Under the proposed terms, if Riva fails to meet required expenditures in the time required, it would forfeit all interest earned in the mineral rights. The parties anticipate a minimum exploration spend of $500,000 (Australian) by Riva on RHM's tenements during the first year of the farm-in period. Upon reaching a 75-per-cent interest in the mineral rights, Riva and RHM would enter into a formal joint venture agreement with respect to the mineral rights. LeadFX would maintain the exclusive right to mine lead at the Paroo Station mine.

LeadFX's chief executive officer, Rob Scargill, stated: "This MOU opens up a new cobalt exploration opportunity in the short term, whilst we focus on our plans to restart the Paroo Station mine, and, longer term, gives LeadFX a larger potential target area for future lead-zinc discoveries adjacent to our existing operations."

The commencement of the farm-in arrangement with Riva remains subject to the negotiation of definitive documentation by the parties, and the approval of the terms by LeadFX's board of directors and secured lender.

About Riva Resources

Riva Resources is an Australian Stock Exchange-listed exploration company controlling a portfolio of tenements in Western Australia. Riva presently holds three mineral projects that comprise nine tenements, and have exploration targets encompassing cobalt, gold, iron ore and base metals. In September, 2016, Riva announced that it had entered into an agreement to acquire the Tabac cobalt-gold project. The Tabac project consists of two exploration licence applications covering a combined area of 111.5 square kilometres. The Tabac project is located on the Goldfields Highway, 30 kilometres west of Wiluna, in the Northern Goldfields region of Western Australia, and sits adjacent to the Paroo Station mine.

About LeadFX

LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. The company's current portfolio includes a restart-ready lead operation in Western Australia and a development project in Utah, United States.SVI

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

Lead Prices Hit A 3-Year High, Did You Miss It?

Nov 29, 2016 03:43AM ET

Lead prices rose sharply last week, adding to the year’s gains. From its January lows, lead is up 52% on the year to date. Not bad for a metal whose fundamentals looked neutral at best.
The International Lead and Zinc Study Group recently convened in Portugal to deliver its forecast for the coming year. The group anticipates that, through the end of the month and year, supply will exceed demand in the global refined lead metal market by 42,000 metric tons. In 2017, the group predicts a closer balance, but still a surplus of 23,000 mt.
3-Month LME Lead Price Hits A Three-Year High3-Month LME Lead Price Hits A Three-Year High

The 3-Month LME lead price hits a three-year high. Source: MetalMiner analysis of Fastmarkets.com data.
Perhaps if you narrowed your view to lead’s supply/demand fundamentals you missed this rally. However, if you payed attention to the ongoing monster bull market in the metal complex, you shouldn’t have.
On the first of September, we recommended lead buyers to hedge/buy long-term forward when prices were at $1,900. A clear buy signal was given when prices broke above a price consolidation. As we remarked back in July:
Lead prices are being driven by funds’ increasing appetite for industrial metals. This means that even though lead fundamentals don’t look overly bullish, the wind is now blowing at lead’s back. Funds are either seeing a tightening in the fundamentals that we can’t see yet or they are simply buying metals as sentiment in the industrial metals complex has improved. Despite neutral fundamentals, lead prices could keep rising if this broad move continues.
What This Means For Metal Buyers
Lead prices are playing catch-up. They have lagged behind zinc's performance all of the year but, it’s not a surprise that lead prices are also surging. The closure of mines caused zinc prices to rally this year but it seems like the market has ignored the fact that mine closures also affect lead supply.
After this sharp rally, prices might need some time to digest gains but, overall, as long as the industrial metals bull market continues, we can only continue to expect lead prices to work their way higher into 2017.

Zinc Rises to Highest Since 2007 as Metals Rally on China Demand

November 27, 2016 — 6:23 PM PST Updated on November 28, 2016 — 8:49 AM PST

The rally in metals is showing no signs of slowing down.
The Bloomberg Industrial Metals sub-index headed for the biggest five-day gain since 2011, as zinc touched a nine-year high. Prices rallied after China’s top economic commission approved a $36 billion plan on new rail links around Beijing, boosting demand for industrial raw materials.
Zinc for delivery in three months rose 5.2 percent to $2,965 a metric ton at 4:20 p.m. on the London Metal Exchange, after touching $2,985, the highest since October 2007.

Lead is up 19 percent since Nov. 18, set for the biggest six-day advance since June 2009.
On the Shanghai Futures Exchange, both zinc and lead closed limit up.
Zinc is the best performer among 22 raw materials on the Bloomberg Commodity Index this year, with the metal rallying 84 percent this year, poised for the steepest climb since 2009. The metal will be in deficit through 2018, Bloomberg Intelligence analysts Kenneth Hoffman and Zhuo Zhang wrote in a note Monday.

“There seems to be no stopping the juggernaut we are seeing in the LME metals, a move that is not being replicated in the commodity space with the exception of coal and the ferrous group, ” Edward Meir, an analyst for INTL FCStone Inc. in New York, said in a note.
Investors see zinc as the metal with the tightest supply situation “given the multitude of closures that have taken place over the past two years,” Meir wrote.
Industrial metals rallied more than 30 percent in 2016 as demand stabilized in China, U.S. President-elect Donald Trump pledged to invest in infrastructure and revitalize the U.S. economy, while mine closures curbed supply. Chinese investors have added to the speculative binge.

“We’re bullish on zinc and lead given the tightness in ore supply and potential production cuts at smelters in coming months, but the speed of the rally exceeds our expectations,” Dina Yu, an analyst at CRU Group, said by phone from Beijing. “There have been no big changes in fundamentals that can explain such a surge. The market is driven by bullish sentiment in all metals.”
Read more: China’s great ball of money rolls back into commodities

Copper for delivery in three months advanced 0.7 percent to $5,922.50 a ton, after touching $6,045.50, the highest since June 2015. The metal broke through $6,000 during the Asian trading day on Monday, bringing call contracts at that price into the money.

“Copper is moving too fast,” said Christoph Eibl, chief executive officer and co-founder of Tiberius Asset Management, which oversees about $700 million. “It’s not being driven by fundamentals. It’s moving on speculative interest and short-covering in the options market.”

Analysts also cited short covering as a reason why the rally in metals has moved so quickly. When prices were flat, many traders made money by selling options and betting the contracts would expire worthless, according to Guy Wolf, global head of market analytics at Marex Spectron. As prices rally, they’re faced with the prospect of having to pay out on the contracts and need to cover the position by purchasing futures, he said.
“It’s like being in a bushfire and trying to buy fire insurance,” Wolf said. “You have to take any price you can get.”

Zinc Prices Hit An 8-Year High: Did You Miss The Rally?

Remember when Barack Obama defeated republican presidential nominee Senator John McCain? Or Usain Bolt’s first appearance in the Olympic games? Well… that’s how far back you need to go if you want to see zinc prices as high as they are now.
Last week, zinc closed just short of $2,300 per metric ton on the London Metal Exchange, the highest level since early 2008. Zinc is the first industrial metal we can say that about (and possibly not the last one).

Zinc hits an 8-year high. Source: MetalMiner analysis of Fastmarkets.com data.
Zinc markets moved into deficit this year following the shutdown of some big mines. The International Lead and Zinc Study Group (ILZSG) anticipates that global usage in 2016 will exceed production by 349,000 mt. In 2017, the market is expected to remain in deficit with the extent of the shortage forecast at 248,000 mt.

Whether fundamentals justify zinc’s spectacular rally or not is debatable. What’s not debatable is that there is no way you can time your purchases by just looking at the fundamentals. You need to understand how prices move, or have someone do it for you.
The first thing you need to know is what kind of market you are in. Are you in a bear market or a bull market? Industrial metals were in a bear market since 2011 until they hit a floor in January. Since it’s impossible to consistently pick the exact market bottom, we always recommend to hedge when prices are finally showing strength.

That happened back in April, when we saw enough evidence to call a bull market in industrial metals. At the same time, zinc prices were consolidating after rallying in the first quarter. Then, zinc managed to break out of that price consolidation. Given zinc’s bull narrative of supply shortfall, a confirmed bull market in industrial metals and zinc’s strong price action, we recommended our subscribers to buy one year worth of demand on the first of May, when prices were trading at $1,900/mt.
Then, Zinc prices continued to move higher but, since the future is always unpredictable, you can’t just buy at any price. Markets can always turn the other way around and you don’t want to buy large quantities just before markets turn around. Therefore, you need to wait for another strategic point to hedge/buy forward again.
That happened again on the first of November. The bullishness across the metal complex became more and more obvious and zinc prices broke out from another consolidation, confirming that there was a high probability that prices would move higher. On the first of November, we recommended our subscribers to buy six-months forward when prices where at $2,420/mt.

Zinc buyers that followed our strategy will be buying zinc in 2016 at an average price of $1,830/mt. Those that simply bought month by month will pay and average of $2,080/mt, or 13% higher. Moreover, those that followed the strategy will have locked in their purchase requirements for 2017 at an average price of $2,160/mt while the others will enter 2017 with quotes near $2,900/mt.
What This Means For Metal Buyers
Zinc prices might look expensive, but they still look strong and could continue to move higher. Buyers need to pay attention to capitalize on future strategic points to hedge/buy forward. On the other hand, if markets turn around, buyers need to identify those turning points to start buying down the market.

www.leadfxinc.com/home/default.aspx

Paroo Station Mine one step closer to restart


TORONTO, Nov. 21, 2016

All dollar amounts are in U.S. dollars unless otherwise indicated.

TORONTO, Nov. 21, 2016 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) announced today that it has received favourable changes to the Paroo Station Mine's (the "Mine") operating conditions. It has also received a $1 million unsecured, interest-free loan from Sentient Global Resource Fund IV, LP ("Sentient") to help meet its working capital needs.

Paroo Station Mine Update

After an extensive consultation process, LeadFX is pleased to announce that it has received a seven-year extension for access to the Port of Fremantle to export lead concentrate using the Company's best-practice concentrate transportation process. LeadFX exports its concentrate in sealed double-lined bags in locked shipping containers. Securing port access is a critical step in the preparations for a potential restart of the Paroo Station Mine in Western Australia.

Pursuant to an amendment made to Ministerial Statement 905, the Mine's key operating conditions (the "Operating Conditions"), the Company is now permitted to ship through the Port of Fremantle until July 27, 2024. In addition, the Operating Conditions were also amended to reduce the quantum of the financial assurance bond that the Company must have in place during transport operations, from A$5 million to A$2 million, to be in line with the with the worst-case clean-up scenario developed by independent transportation experts. The Company considered the receipt of these amendments to its Operating Conditions as important preconditions to any decision to restart the Mine. With these amendments approved, the Company can now move forward with its Mine restart financing discussions.

In 2014, its last full year of operations, the Mine produced approximately 81,000 tonnes of contained lead in concentrate and employed more than 200 employees and contractors.

Unsecured Promissory Note

Sentient has advanced LeadFX $1 million pursuant to an unsecured, interest-free, promissory note (the "Note"), repayable on June 30, 2017 and on the same terms as the prior promissory notes issued by the Company to Sentient. The interest-free advance by Sentient will enable the Mine to remain in a restart-ready state prior to a decision being made on a restart of the Mine in the coming months.

Rob Scargill, President and CEO said, "Recent LME lead prices are more than 20% higher than such prices when we placed the Paroo Station mine on care and maintenance in January 2015. The extension of the port access removes a significant hurdle to a restart, and with the ongoing support of Sentient we are now focused on securing appropriate restart financing prior to a restart decision."

About LeadFX

LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Our current portfolio includes a restart-ready lead operation in Western Australia and a development project in Utah, USA. The Company is developing opportunities at its new properties in North America to underpin future cash flow and growth. LeadFX trades under the symbol "LFX" on the Toronto Stock Exchange

Ivernia Inc. changed to LeadFX Inc. and a one for 75 reverse split:

http://otce.finra.org/DLSymbolNameChanges

Here we go...new assets and reorg...and God knows what else...

http://www.stockhouse.com/news/press-releases/2015/08/31/ivernia-announces-corporate-acquisition-and-re-capitalization

big volume today...somethings up...keep an eye out...

Global Lead mine supply exceeded demand by 11 kt during Q1 2015


May 19, 2015 09:22 GMT Source:Scrap Monster


Author: Paul Ploumis
19 May 2015 Last updated at 03:26:18 GMT
SEATTLE (Scrap Monster): The International Lead and Zinc Study Group (ILZSG) has released the preliminary data for world lead supply and demand during the first quarter of 2015. The provisional data indicates that the lead mine supply has marginally declined by almost 0.9% year-on-year during the initial three month period of the year.

According to ILZSG, the world supply of refined lead metal exceeded demand by 11kt during the first quarter of the year. The total reported stock levels dropped by 10 kt during the period. Meantime, LME stock levels rose during Jan-Mar ’15.

The overall lead mine supply during Q1 2015 totaled 1.146 million tons, in comparison with 1.156 million tons during Q1 last year. The falling mine output from Australia has contributed to the 0.9% year-on-year decline in global lead mine supply. On the other hand, the mine supply from Peru and the US increased during the quarter.

The global refined lead metal production declined by 2.3% during Q1 this year. This was primarily on account of lowered production from China and disruption of operations at La Oroya plant in Peru during the month of June last year.

The global demand for refined lead metal witnessed a decline of 2.7% during the quarter. The apparent usage of refined metal by China and the US fell by 4.6% and 6.2% respectively. The apparent lead usage by the European region too dropped by 2.5%.

ILZSG statistics indicate that the lead mine supply during the month of March alone totaled 379,300 tonnes. The global refined lead metal production during the month totaled 859,100 tonnes. The apparent lead usage totaled 854,600 tonnes during March this year.

sure looks like this bottomed out at a penny. i think we could see 10 cents before the years out. gla, paydirt