Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Uranium Energy Corp’s Executive VP Scott Melbye Testifies before the U.S. Senate Committee on Energy & Natural Resources
Corpus Christi, TX, April 6, 2021 - Uranium Energy Corp (NYSE American: UEC, the “Company” or “UEC”) is pleased to report that Scott Melbye, our Executive Vice President and current President of the Uranium Producers of America, presented testimony to the Senate Committee on Energy and Natural Resources before the Full Committee Hearing on Opportunities and Challenges Facing Domestic Critical Mineral Mining, Processing, Refining, and Reprocessing, on March 31, 2022.
In his testimony, Mr. Melbye stated: ”It is an honor to testify once again before the Senate Energy and Natural Resources Committee today on an urgent subject with grave implications for our national and energy security – the U.S.’s current reliance on our strategic competitors for critical minerals like uranium…. The continued reliable operation of the U.S. nuclear fleet requires a secure supply of uranium and nuclear fuel. Unfortunately, Russia and its allies have in recent years employed predatory market practices to cultivate America’s dangerous reliance on the Kremlin and its allies for uranium and nuclear fuel. Almost none of the fuel needed to power America’s nuclear fleet today comes from domestic producers, while U.S. nuclear utilities purchase nearly half of the of the uranium they consume from state-owned entities (SEO) in Russia, Kazakhstan, and Uzbekistan.”
Read read or watch the complete testimony at:
https://www.uraniumenergy.com/news/releases/index.php?content_id=891
Constantine Karayannopoulos, Jack Lifton and Byron W. King on the synergies between the global rare earths’ supply and the real-world markets
In this episode of Critical Materials Corner, Jack Lifton and Critical Materials Corner Co-Host & InvestorIntel Columnist Byron W. King are joined by Constantine Karayannopoulos, President, CEO and Director of Neo Performance Materials Inc. (TSX: NEO).
[[ Neo Performance Materials Inc. operates a REE processing plant in Estonia ]]
Constantine describes the real state of the rare earth mining, refining, and end-use product industry, outside of China, as it exists and operates today, from the perspective of the largest non-Chinese owned vertically integrated, beyond the mine, rare earth products producer in the world. Questions from Jack and Byron lead Constantine to describe and differentiate today’s European and North American markets with regard to their sizes, existing supplies and suppliers, and their futures as he sees them.
Although Neo Performance Materials is a Canadian company, headquartered in Toronto, it produces and sells rare earth product lines within China, Europe, SE Asia, and North America. Jack points out that this makes Constantine Karayannopoulos a uniquely qualified expert to analyze the global rare earths’ products’ markets. And surmises that those watching may learn a great deal in this conversation about the synergies between rare earths’ supply and the real-world markets.
Read more and get link to the video at:
https://investorintel.com/investorintel-video/critical-materials-corner-on-the-synergies-between-rare-earths-supply-and-the-real-world-markets/?utm_source=rss&utm_medium=rss&utm_campaign=critical-materials-corner-on-the-synergies-between-rare-earths-supply-and-the-real-world-markets
Eco (Atlantic) Oil & Gas
April 6, 2022
[[ Thanks to Malcy's Blog ]]
https://www.malcysblog.com/2022/04/flash-blog-wentworth-chariot-igas-eco-atlantic/
Eco has announced, further to the Company’s announcement of 5 April 2022, the successful completion of an oversubscribed Equity Fundraise. A total of 64,885,496 new Common Shares in the capital of the Company have been conditionally placed with, or subscribed for by, new and existing institutional investors at a price of £0.30 per Placing Share (or, for Placees in Canada, CAN$0.50). On settlement, the Equity Fundraise will raise gross proceeds of approximately £19.5 million (approximately US$25.5 million) for the Company before expenses consisting of:
· 48,040,714 new Common Shares pursuant to the Placing, raising gross proceeds of approximately £14.4 million (approximately US$18.9 million);
· 10,178,116 new Common Shares pursuant to the Subscription, raising gross proceeds of approximately £3.1 million (approximately US$4.0 million); and
· 6,666,666 new Common Shares pursuant to the Retail Offer on the PrimaryBid platform, raising gross proceeds of approximately £2.0 million (approximately US$2.6 million).
In aggregate, the new Common Shares to be issued pursuant to the Equity Fundraise represent 28.8% of the issued share capital of the Company prior to the Equity Fundraise and 22.4% of the Company’s issued share capital as enlarged by the Equity Fundraise.
In connection with the Placing, Berenberg, SpareBank 1 Markets and Echelon acted as Joint Bookrunners and the brokered private placement element of the Placing was conducted by Echelon acting as Canadian agents.
The Equity Fundraise Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Common Shares of the Company, including, without limitation, the right to receive all dividends and other distributions declared, made or paid after the date of issue.
Application has been made to the London Stock Exchange for admission of the Placing Shares, the Subscription Shares and the Retail Offer Shares to trading on AIM. The issuance of the Equity Fundraise Shares is subject to conditional approval by the TSX Venture Exchange. It is expected that AIM Admission will take place on or around 8.00 a.m. BST on 11 April 2022 and that dealings in the Placing Shares, the Subscription Shares and the Retail Offer Shares on AIM will commence at the same time.
Following AIM Admission, the enlarged issued share capital of the Company will be 289,875,431 Common Shares. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.
The Equity Fundraise is conditional upon, amongst other things, AIM Admission becoming effective and upon the Placing Agreement not being terminated in accordance with its terms.
Gil Holzman, Co-Founder and CEO of Eco Atlantic, commented:
“We are delighted with the result of this oversubscribed placing and grateful for the strong demand and support from investors, in particular our existing shareholders and our strategic alliance partners Africa Oil Corp.
“The capital raised will support the upcoming drilling of the Gazania-1 well on Block 2B, offshore South Africa, further G&G work across the entire portfolio and will also ensure that we maintain a strong balance sheet to continue executing on our consolidation strategy aimed at becoming the most exciting exploration company in the E&P Sector with multiple drilling catalysts.”
Nothing to add here, this was expected and why the shares have been waiting for today’s news. I would think that now this is behind them the company should power on with its activities in Guyana and Africa. More when I have had a chance to chat to Gil.
Chariot
April 6, 2022
[[ Thanks to Malcy's Blog ]]
https://www.malcysblog.com/2022/04/flash-blog-wentworth-chariot-igas-eco-atlantic/
Further to the Company’s announcement on 27 September 2021, relating to the green hydrogen project in Mauritania, Chariot, the Africa focused transitional energy company, is pleased to announce that it has signed a Memorandum of Understanding with the Port of Rotterdam International, a global energy hub and Europe’s largest seaport which handles a significant portion of Europe’s total energy demand.
The MoU represents a first step towards establishing supply chains to import green hydrogen and ammonia to meet expected demand in the Netherlands and other countries in Northwest Europe. The two parties will work together to connect with off-takers and secure contracts for specific volumes.
René van der Plas, Director of Port of Rotterdam International, stated:
“We are excited to be teaming up with Chariot, to help with the distribution element of their green hydrogen project in Mauritania. The project could turn Mauritania into a leading supplier of green hydrogen to Europe, making it one of the largest energy projects of its kind in the world.”
Benoit Garrivier, Chariot Transitional Power CEO, commented:
“This MoU is a considerable step forward for us on our green hydrogen project and we are delighted to be working with the Port of Rotterdam, as they look to continue to cement their position as one of the leading energy hubs in Europe. Our green hydrogen project in Mauritania has the potential to establish the country as one of the cheapest producers of green hydrogen. Our ambition is to help the nation become one of the world’s main producers and exporters of green hydrogen. We look forward to announcing further developments with this project in due course.”
Nothing more to add here save that Chariot are motoring ahead with their green hydrogen projects and I expect much more of the same to come. Even at 21.55p as this morning the upside is really substantial.
Metals Creek Receives Deepest Results to Date from Dona Lake Drilling.
Deepest Drill Intercept to date extending gold mineralization 85m down plunge
High Grade Intercept of 8.82 g/t Gold over 3.90m
Thunder Bay Ontario, March 24, 2022 - Metals Creek Resources Corp. (the “Company” or Metals Creek, TSXV: MEK, OTCQB: MCREF, FRA:M1C1) is pleased to announce diamond drill results for drill hole DL22-024 from the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).
Results from drill hole DL22-024 is the deepest intercept to date from Dona Lake drilling. This hole intersected the Main Zone stratigraphy at approximately 675 meters below surface and 220 meters below the lowermost mine working (455 Level) returning a core length intercept of 8.82 grammes per ton (g/t) gold (Au) over 3.90 meters (m) (723.00 – 726.90m).
Read more at:
https://www.metalscreek.com/april-5-2022
Thanks Landmark for posting a link to the March 14, 2022 announcement. I certainly missed it when i first came out. Reading the full announcement is interesting.
If we are paying L3 for this work I wonder if we are part holders of any patents the may come from it. If it has promise for other entities that are processing REEs I wonder if we may earn licensing fees/royalties?
Hmmmm with 14,000 readers/lurkers when something very positive occurs the SP might really pop.
Hmmmm on 3/31/22 at 10:23 my AOIFF dividends hit my TD Ameritrade account.
I would expect that the NI-43-101 REE report would be announced with a PR at the time they get it , it is material subject matter.
I really find it very difficult to comprehend why some entity bank - company - investment group has not stepped up and commit, even TechMet what with US govt behind it.
Sarcasm is totally acceptable here.
It would have been nice to award $0.05 in January to reward the long termers and then start the $0.025/share paid semi-annually.
Chico thanks for all the VERY HELPFUL DD that you do and freely share on this board.
The part of Jim Sims response in your post #79143 that unfortunately resonated with me is:
" ... a good deal of additional work will need to be done in order to update all necessary parts of our 2019 Feasibility Study to integrate rare earths into the Project, including a new economic model detailing the expected financial performance of the Project.
"
With the L3 processing steps, if included, the CAPEX and OPEX will probably change, as well as change when inflation is added into the mix. I fear that it may take 6 months or maybe even longer.
However, I firmly believe that the REVENUE figures will be much higher because of current prices and price trends. Even more important I believe that we will be producing a much higher percentage of "Specialty Chemical" materials versus "Commodity" materials which means higher margins.
Chariot
[[ Thanks to Malcy's Blog ]]
March 31, 2022
Chariot has provided an update on the post-well analysis of the successful Anchois-2 gas appraisal and exploration well, completed in January 2022, on the Anchois gas project within the Lixus licence, offshore Morocco. Chariot has a 75% interest and operatorship of Lixus in partnership with the Office National des Hydrocarbures et des Mines which holds a 25% interest.
· Net gas pay estimates for Anchois-2 well, based on further interpretation of the well data, have been upgraded to approximately 150m from the previously announced preliminary analysis of greater than 100m, compared to the 55m in the original Anchois-1 discovery well.
· Excellent quality dry gas confirmed, with greater than 96% methane, in all seven discovered gas reservoirs, without detrimental impurities such as H2S or CO2, supporting minimal gas processing required in the development.
· Highly consistent gas composition potentially allows all gas produced from the different reservoirs to be processed through a single gas processing facility, enabling a simple development.
· Further analysis is ongoing on the well data to understand the positive implications on gas resources, and scale and economics of the development.
Adonis Pouroulis, Acting CEO of Chariot, commented:
“I am delighted to announce this very positive update on the analysis of the well data obtained from our successful gas drilling campaign on the Anchois project, offshore Morocco, including a significant increase in net gas pay to approximately 150m. This increase combined with the confirmation of excellent quality dry gas consistently across all the discovered gas reservoirs is extremely encouraging, as it will help enable a simple and standard development.
Our ambition is to bring the Anchois gas development online quickly, to fuel Morocco’s economic growth, but also to deliver near-term cash flows to our shareholders. We will continue to work on an accelerated field development plan, for the benefit of all stakeholders.”
You don’t need me to tell you that this is an exceptional result from Chariot, every which way the news couldn’t be much better and the Anchois gas project goes from strength to strength. With better than expected volumes of better quality gas confirmed, even the treatment of the gas will be minimal and development relatively simple.
It is also good to hear CEO Adonis Pouroulis saying that he wants to bring this development on quickly which will not only satisfy local demand but repay Chariot shareholders. Indeed with current European gas prices and no sign of any demand waning I’m sure that the Moroccan authorities will create perfect conditions for a speedy move to first gas.
As I write the shares are up some 16% at 16.15p which is fine but in no way recognises the potential value being created at Chariot at the moment. I would go so far to say that the Anchois development on its own can be valued at a minimum of three times the current share price. If you add on the transitional power business which assists mining companies in Africa transition to renewable energy sources for their operations, then as already mentioned here before now the upside is a matter of a multiple the current share price.
Thanks for the link to the video.
Tudor Gold non-Treaty Creek properties
As I read the below announcement this is a way for Tudor Gold to move its 6 non-Treaty Creek properties off into a separate company. American Creek and Teuton do not participate in this spinoff and their joint venture rights in the Treaty Creek property remain the same.
The company (Tudor Gold) plans to spin-out the 'Crown' project in the next few months: Shareholders should get for every 1 Tudor in ownership approx. 0.253 in the new established Goldstorm Metals Corp.
https://tudor-gold.com/press-release-july-13-2021/
July 13, 2021
Vancouver, B.C.
TUDOR GOLD ANNOUNCES PROPOSED SPIN-OFF OF CROWN PROPERTY
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC, July 13, 2021 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the "Company" or "Tudor Gold") is pleased to announce the proposed spin-off of its six contiguous mineral properties located in the Golden Triangle Area in northwestern British Columbia by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).
In furtherance thereof, the Company has entered into an arrangement agreement (the "Agreement") with Goldstorm Metals Corp. ("Goldstorm"), a wholly-owned subsidiary of the Company. Pursuant to the Arrangement, among other things:
Tudor Gold shareholders will receive approximately 0.253 of a common share of Goldstorm (each whole common share, a "Goldstorm Share") for every one common share of Tudor Gold held; and
Goldstorm will acquire the Company’s six contiguous Golden Triangle Area mineral properties, being the Mackie East, Mackie West, Fairweather, High North, Delta and Orion and Electrum properties (collectively, the "Crown Property") in consideration for Goldstorm issuing 44,999,999 Goldstorm Shares to Tudor Gold.
The Agreement also contemplates the completion of an additional non-brokered private placement of Goldstorm Shares for gross proceeds of at least $3 million. The board of directors of Tudor Gold has determined that the Arrangement is in the best interests of the Company. Among other things, the separation of the Crown Property into a separate public company will position such assets to be valued on a standalone basis. In addition, the transaction will allow Tudor Gold management to focus their efforts on the development of its flagship Treaty Creek property with Goldstorm’s management to focus on exploring and developing the Crown Property.
Walter Storm, President and Chief Executive Officer of Tudor Gold stated: "We are pleased to announce the Arrangement, which we believe will help unlock and maximize value for our shareholders. On completion, Goldstorm will be positioned well to advance our efforts in the Golden Triangle Area, with a strong balance sheet and experienced management team. We look forward to updating shareholders on this transaction as it progresses.”
The Company intends to apply for a listing of the Goldstorm Shares on the TSX Venture Exchange (the "TSX-V"). Any such listing will be subject to Goldstorm fulfilling all of the requirements of the TSX-V.
It is currently expected that the directors of Goldstorm on completion of the Arrangement, will consist of Walter Storm, Sean Pownall, Ken Konkin, Helmut Finger and Ronald-Peter Stöferle, with Mr. Konkin acting as President and Chief Executive Officer and Scott Davis acting as Chief Financial Officer.
In addition, pursuant to the Arrangement, holders of Tudor Gold options will exchange such securities for new options of Tudor Gold. The Arrangement is expected to be effected by way of a plan of arrangement under the Business Corporations Act (British Columbia) and remains subject to customary conditions, including, among other things, the approval by the TSX-V, approval by an affirmative vote of 66 2/3% of shareholders of the Company in attendance at a meeting of Tudor Gold’s shareholders (the "Meeting"), and approval of the Supreme Court of British Columbia.
Additional details of the Arrangement will be included in the information circular to be mailed to shareholders of Tudor Gold in connection with the Meeting referred to above.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
"Walter Storm"
Walter Storm
President and Chief Executive Officer
As I read the below announcement this is a way for Tudor Gold to move its 6 non-Treaty Creek properties off into a separate company. American Creek and Teuton do not participate in this spinoff and their joint venture rights in the Treaty Creek property remain the same.
The company (Tudor Gold) plans to spin-out the 'Crown' project in the next few months: Shareholders should get for every 1 Tudor in ownership approx. 0.253 in the new established Goldstorm Metals Corp.
https://tudor-gold.com/press-release-july-13-2021/
July 13, 2021
Vancouver, B.C.
TUDOR GOLD ANNOUNCES PROPOSED SPIN-OFF OF CROWN PROPERTY
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC, July 13, 2021 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the "Company" or "Tudor Gold") is pleased to announce the proposed spin-off of its six contiguous mineral properties located in the Golden Triangle Area in northwestern British Columbia by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).
In furtherance thereof, the Company has entered into an arrangement agreement (the "Agreement") with Goldstorm Metals Corp. ("Goldstorm"), a wholly-owned subsidiary of the Company. Pursuant to the Arrangement, among other things:
Tudor Gold shareholders will receive approximately 0.253 of a common share of Goldstorm (each whole common share, a "Goldstorm Share") for every one common share of Tudor Gold held; and
Goldstorm will acquire the Company’s six contiguous Golden Triangle Area mineral properties, being the Mackie East, Mackie West, Fairweather, High North, Delta and Orion and Electrum properties (collectively, the "Crown Property") in consideration for Goldstorm issuing 44,999,999 Goldstorm Shares to Tudor Gold.
The Agreement also contemplates the completion of an additional non-brokered private placement of Goldstorm Shares for gross proceeds of at least $3 million. The board of directors of Tudor Gold has determined that the Arrangement is in the best interests of the Company. Among other things, the separation of the Crown Property into a separate public company will position such assets to be valued on a standalone basis. In addition, the transaction will allow Tudor Gold management to focus their efforts on the development of its flagship Treaty Creek property with Goldstorm’s management to focus on exploring and developing the Crown Property.
Walter Storm, President and Chief Executive Officer of Tudor Gold stated: "We are pleased to announce the Arrangement, which we believe will help unlock and maximize value for our shareholders. On completion, Goldstorm will be positioned well to advance our efforts in the Golden Triangle Area, with a strong balance sheet and experienced management team. We look forward to updating shareholders on this transaction as it progresses.”
The Company intends to apply for a listing of the Goldstorm Shares on the TSX Venture Exchange (the "TSX-V"). Any such listing will be subject to Goldstorm fulfilling all of the requirements of the TSX-V.
It is currently expected that the directors of Goldstorm on completion of the Arrangement, will consist of Walter Storm, Sean Pownall, Ken Konkin, Helmut Finger and Ronald-Peter Stöferle, with Mr. Konkin acting as President and Chief Executive Officer and Scott Davis acting as Chief Financial Officer.
In addition, pursuant to the Arrangement, holders of Tudor Gold options will exchange such securities for new options of Tudor Gold. The Arrangement is expected to be effected by way of a plan of arrangement under the Business Corporations Act (British Columbia) and remains subject to customary conditions, including, among other things, the approval by the TSX-V, approval by an affirmative vote of 66 2/3% of shareholders of the Company in attendance at a meeting of Tudor Gold’s shareholders (the "Meeting"), and approval of the Supreme Court of British Columbia.
Additional details of the Arrangement will be included in the information circular to be mailed to shareholders of Tudor Gold in connection with the Meeting referred to above.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
"Walter Storm"
Walter Storm
President and Chief Executive Officer
One hopes that Mr. Putin stops with Ukraine. I suspect the Neo plant in Estonia would be captured before NATO would have time to answer the phone.
Interesting article, thanks
Treaty Creek - Tudor Gold - American Creek
One of the world's largest gold mines can be built on 'Treaty Creek' in a mining-friendly region.
This gold company is a prime takeover target! Analyst price targets show upside potential of up to 167%.
That is the headline from the latest JS Research report concerning Treaty Creek. Even though the project is not at that stage yet, the report attempts to show its potential, including an upside of up to 167% for Tudor shares in the near future.
Given American Creek's stock is currently trading at over *40% discount to Tudor's stock per ounce of gold, it speculatively offers investors an opportunity to see even greater upside in what we, and many others consider a steeply undervalued Treaty Creek.
Read more and get link to the referenced report at:
https://mailchi.mp/f9ac045b0fb0/new-treaty-creek-report-4754501?e=6f11d69fd1
Thanks for posting that link
AFRICA OIL ANNOUNCES THE RECEIPT OF PRIME DIVIDEND
VANCOUVER, BC, March 28, 2022 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") is pleased to announce that it has received a dividend from Prime Oil and Gas Cooperatief UA ("Prime"). The Company has a 50% shareholding in Prime. View PDF
Prime has distributed a $200 million dividend with a net payment to Africa Oil of $100 million related to its shareholding. Since acquiring its 50% interest in Prime for a cash consideration of $520 million in January 2020, Africa Oil has received 11 dividends from Prime for a total amount of $500 million, representing 96% of the cash consideration paid.
At year-end 2021, Prime's cash and debt positions net to Africa Oil's 50% shareholding were $258.9 million and $508.4 million respectively. These compare with corresponding cash of approximately $70 million and debt of $912.5 million at the time of Prime deal closing in January 2020.
The Company's year-end 2021 working interest (W.I.) Proved plus Probable ("2P") reserves of 72.8 million barrels of oil equivalent ("MMboe") compare to its year-end 2019 2P reserves of 70.9 MMboe1,2,3. These reserves are all attributed to Africa Oil's 50% shareholding in Prime. The Company achieved 2P reserves replacement ratios of 114% and 102% in 2020 and 2021 respectively.
Keith Hill, Africa Oil's President and CEO, commented: "We have made a strong start to this year with a debt-free corporate balance sheet, the implementation of a base dividend policy for Africa Oil's shareholders and the announcement of a significant light oil discovery, offshore Namibia. I am also pleased that after two strong years of production performance and receiving $500 million in dividends from Prime, our year-end 2021 2P reserves are higher than the 2P reserves base at the time of our Prime acquisition. This underscores the excellent quality of these assets."
I think the time yet required may be more than just "Tweeking" the existing numbers.
- The whole area of the REE analysis of the elements and tons is not a tivial processs.
- In my mind all of the CAPEX and OPEX to build the mine and get the ore above ground and into solution probably will not change much except for inflation.
I agree with Boilermaker
"
I get the impression that with L3 involved we may be looking at revising the process for all the potential products. JMHO, but seems that takes more time. However, if we get higher yields and higher purities, it could be very worthwhile.
"
Changing from the tried and true traditional process of SX (solvent extraction) already in the FS will probably impact the CAPEX and OPEX. However the " higher yields and higher purities" and possibly a more highly desired physical form will move all of the products, Nb-Sc-Ti, further from the "Commodity" materials into more "Specialty Chemicals" materials catergory. I believe that will result in higher revenues and margins.
Of course since the market price for "commodity" materials is often readily quoted on various public pricing boards and pricing of "Specialty Chemical" materials are negotiated between the seller and buyer and not often publicly known there may be some hesitation by the financiers.
Just remember the controversy we had about the Sc pricing. REE pricing could be just as, if not more, controversial. Factor in the propensity for China to manipulate the REE pricing to protect their world dominance of the REE market (I believe a major reason for Molycorp’s demise) and REE processing into elemental materials and the financiers may turn/remain cautious and may say “... well I don’t know, Sc and REE pricing is very volatile, this project still seems pretty risky”
This will be the time for the govt and/or TechMet to establish the cornerstone investment and get this project moving.
Still waiting for our cornerstone financing. Considering Mark's relationship and that the US govt is a major owner I would think TechMet would be the entity to step up. It would be a way for the govt to provide funds without all of the paperwork and strings attached.
Thanks
Any chance you could post a link?
I have been to the company website and can't find the MD&A.
That Elk Creek Water Ingredients mix looks like something I would have mixed up at our St. Patrick' Day party back in my Missouri School of Mines days.
Africa Oil - Eco (Atlantic) Oil & Gas
[[ Thanks to Malcy's Blog ]]
https://www.malcysblog.com/2022/03/oil-price-chariot-eco-atlantic-and-finally/
March 21, 2022
Eco has announced the publication of an updated NI 51-101 compliant Competent Person’s Report on its assets Offshore Guyana, Offshore Namibia and Offshore South Africa. The CPR was compiled by WSP USA Inc., of Boulder Colorado, USA, an independent third-party auditor and can be found on the Company’s website.
The new CPR incorporates the increased interests in its Namibian assets and the additional two blocks offshore South Africa resulting from the acquisition of Azinam Group Limited as announced on 11 March 2022. All contractual and legal conditions required for completion have occurred save for final approval from the TSX Venture Exchange, which is expected to be received imminently. The CPR has been prepared on the basis that the acquisition of Azinam has completed.
Summary of Unrisked Prospective Resource Estimates
[[ Goto Malcy's Blog or the company website for the tables ]]
· Guyana (Orinduik Block) – Net to Eco 681 mmbbls Oil and 544 BCF Gas
· South Africa (Blocks 2B & 3B/4B) – Net to Eco 864 mmbbls Oil and 309 BCF Gas
· Namibia (4 Blocks) – Net to Eco 6,705 mmbbls Oil and 6,565 BCF Gas
Colin Kinley, Co-Founder and COO of Eco Atlantic commented:
“With our current strategy for increasing our stakeholder asset base, we have focused solely on strategic acquisitions that can add material and near-term growth and catalysts for the company. The addition of the Azinam assets in Namibia and South Africa have quickly added prospective resources to our portfolio. As we work towards the completion of our recently announced binding term sheet to acquire JHI’s 17.5% interest in the Canje Block offshore Guyana plus the maturation of additional resources currently being interpreted from ongoing 3D processing in Block 3B/4B we expect to see even further growth of the portfolio from here in the coming months”.
Importantly our acquisitions and strategy to deliver mature drillable prospects in the near term is driven in part by the current heated energy market, the reduction in worldwide exploration, and the marked cycling we anticipate through energy transition in the coming years. Eco has the capacity to participate and provide strategic value accretion through the drill bit. Our planned well for Q3 this year on Block 2B in South Africa is being quickly followed by work on the potential to drill on Block 3B/4B in the Orange Basin, directly adjacent to the recent discoveries announced by TotalEnergies and Shell. We are also confidently progressing towards drilling in Orinduik block offshore Guyana, subject to available funding, and look forward to confirming a drill target and timing with our partners in the coming months. Assuming the acquisition of JHI completes as planned in the coming months, this acquisition will also provide us with the opportunity to participate in a number of targets on the Canje Block as prospects are matured by ExxonMobil and ourselves in the Guyana basin.”
Eco are powering ahead with this CPR in which the numbers are truly stupendous, even shareholders may have blinked when they saw best estimate prospective resources of some 8.2bn barrels of oil and 7,417 BCF of gas. The report has everything in it except the recent JHI deal which includes the Canje block in Guyana which would provide icing on the top of this exceedingly good cake.
Clearly Namibia takes the kudos with its huge structures containing massive potential but actually if you look at existing portfolio it is carefully assembled with differing profiles and geographies. Recent drilling in every single area that Eco can be found has already started the de-risking programme and Gil and Colin have put together what is rightly been described as ‘the biggest small cap in the E&P world’. Indeed normally if you saw such a sizeable portfolio you wouldnt expect it to be in a company with a market cap of only £70m.
Last time I wrote about Eco I suggested that it might even be the ‘go-to’ exploration company in the energy mix, this CPR only confirms what a gem this is in the E&P sector, with funding available through canny deals, enormous strength from partner companies and investors who know a good thing when they see one. As they say on the stage, this one will run and run…
Yes the possible changes in processing could move NioCorp further out of just being a "commodity" producer into the "specialty chemical" producer category, which IMHO is a much better selling price and margin.
yeah!!!
Proactive Investor Newsmaker Interview with NioCorp COO Scott Honan
London (March 16, 2022) -- Proactive Investor's London team just released a newsmaker interview with Scott Honan, Chief Operating Officer of NioCorp (TSX:NB; OTCQX: NIOBF) who was in London last week with NioCorp CEO Mark Smith meeting with prospective project finance investors.
In the interview with Proactive's Katie Pilbeam, Mr. Honan discusses NioCorp's prospective production of rare earth elements in its Elk Creek Superalloy Materials Project, in addition to the Company's Environmental, Social, and Governance program.
The interview can be seen here:
https://www.proactiveinvestors.co.uk/companies/news/976963/niocorp-developments-chief-operating-officer-scott-honan-presents-esg-credentials-976963.html
Get link to the previous MS video at:
https://mailchi.mp/niocorp.com/new-video-newsmaker-interview-with-scott-honan-in-london?e=a994b680bf
Agreed chico
Agreed. Based on the volume of shares being traded there does not seem to be a race to harvest the dividend.
I agree ...
ECO Atlantic - Africa Oil
[[ Thanks to Malcy's Blog ]]
March 14, 2022
https://www.malcysblog.com/2022/03/oil-price-iog-eco-atlantic-and-finally/
Eco (Atlantic Oil & Gas)
Further consolidating Eco’s position as an exploration business of scale
Eco has announced today that it has signed a Commercially Binding Term Sheet to acquire 100% of JHI Associates Inc., including JHI’s 17.5% Working Interest in the Canje Block offshore Guyana.
Highlights
· A proposed cashless acquisition, with a value of approximately US$52 million at the Company’s current share price, which would make Eco the sole owner of JHI’s cash balance and its 17.5% WI in the Canje Block
· The Canje Block, offshore Guyana, is directly adjacent to the prolific Stabroek Block where ExxonMobil has discovered in excess of 10 Billion Barrels of Oil
· Eco will acquire JHI’s capital balance, which is expected to be a minimum of US$15 million upon completion of the Acquisition
· Consideration in the form of new common shares issued to JHI’s shareholders based on an exchange ratio of 1.1994 new Eco common shares and convertible securities leading to JHI shareholders holding approximately 34% of Eco post Acquisition at current share count
· The Acquisition adds to Eco’s strategic acreage position in Guyana and paves the way for further drilling activity on the Company’s blocks over the coming years
· The Acquisition is currently expected to close in Q2 2022 subject, inter alia, to the signing of an Arrangement Agreement and satisfactory completion of due diligence by Eco and any requisite Government of Guyana, Canje Block partners, and stock exchange approvals
· On closing, JHI has the right to appoint two non-executive Directors to Eco’s eight-member Board of the enlarged Group, bringing further exploration expertise to the Company
Information on the Acquisition
JHI is a private company incorporated in Ontario and headquartered in Toronto, Canada. If and once completed the Acquisition provides the enlarged Eco Group with ownership of 17.5% PI in the Canje Block offshore Guyana. The Canje Block is Operated by Esso Exploration & Production Guyana Limited (35%), a subsidiary of ExxonMobil Corporation, with the remaining partners including TotalEnergies E&P Guyana B.V. (35%), JHI Associates (BVI) Inc. (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%). On closing of the Acquisition, JHI is to have a minimum cash balance of $USD 15 million, acquired as part of the transaction with Eco. The Canje Block is approximately 4,800km2, located approximately 180 to 300 kilometres offshore Guyana in water depths ranging between 1700 and 3000 meters.
The Canje Block is a large and significant license which captures the lower slope and base of slope play fairways, channels and fans outboard of multiple ExxonMobil discoveries in the adjacent Stabroek Block which is immediately up-dip of Canje. Canje is covered with 6,100km2 of 3D seismic and holds over three dozen prospects in four proven plays in the Lower Tertiary and Upper Cretaceous confined channels, Lower Cretaceous Carbonate structures and, with recent drilling of Sapote-1 well and Stabroek discoveries, now offers the opportunity of yet deeper horizons.
Pursuant to the Term Sheet and subject, inter alia, to the signing of a binding Arrangement Agreement and completion of the Acquisition, Eco Atlantic will issue to JHI’s shareholders, along with the holders of any JHI options and warrants, such number of new common shares in Eco that at the above-stated exchange ratio and current share count (post the issue of the Azinam Group Limited acquisition consideration shares) will provide JHI’s shareholders with 34.1% of Eco’s issued share capital as enlarged by such issue (“Enlarged Share Capital”), or approximately 127 million new common shares of Eco, providing for a cashless acquisition, with a value of approximately US$52 million at the Company’s current share price, to become the sole owner of JHI’s cash balance and its 17.5% PI in the Canje Block. The Term Sheet provides Eco with a 90-day exclusivity period and terminates, or may be terminated, upon the occurrence of certain events.
Completion of the Acquisition is subject, inter alia, to the signing of an Arrangement Agreement and satisfactory completion of due diligence by Eco and any requisite approvals from the Government of Guyana, the Canje Block partners, and the TSX Venture and AIM exchanges. In addition, certain shareholders of JHI will enter into a lock-up agreements to restrict the sale of the consideration shares.
As of 31 December 2021, JHI’s audited financial statements provides that it had total gross assets of approximately US$30.7 million, of which approximately US$19.7 million is cash and cash equivalents and US$3.5 million is the book value of its interest in the Canje Block. These financial statements also provide that JHI had total liabilities to third parties of approximately US$500,000.
A further announcement will be issued on the execution of the binding Arrangement Agreement.
John Cullen, Founder and CEO of JHI commented:
“This transaction provides JHI’s shareholders access to Eco’s exciting portfolio of exploration opportunities in the emerging oil basins of Namibia and South Africa, and in Guyana with their Orinduik block, while maintaining their exposure to the Canje Block, where we have been working steadily with our partners to identify the next prospect to drill. It also represents the culmination of a tremendous amount of work from JHI’s technical team which, over the last six years, saw two supermajors join the Canje Block, and three wells drilled providing valuable information towards unlocking the potential of the deeper water portions of the Guyana-Suriname Basin.
“JHI’s team has come to work well with Eco’s team since they became shareholders last year, and we know that they will continue to be good stewards of the Canje Block as they add it into their impressive and expanding exploration portfolio.”
Gil Holzman, Co-Founder and CEO of Eco Atlantic commented:
“Being a shareholder of JHI since last year has given us a deep understanding of the Canje Block and its prospectivity. It has also given us the opportunity to get to know the great management team at JHI and their technical and business achievements to date. Because of these facts, we believe that there is considerable strategic rationale in acquiring JHI. Eco’s ambition is to become the “go-to” small-cap exploration vehicle for investors seeking exposure to high-impact drilling programs in three of the world’s most exciting hydrocarbon provinces in Guyana, Namibia and South Africa. This acquisition gets us another step closer to that goal and builds on the Azinam acquisition we announced earlier this year.
“This transaction adds to Eco’s strategic acreage position in Guyana and ensures that there will be a number of drilling catalysts over the next couple of years on Eco’s eight offshore blocks. In addition, the enlarged Group will benefit from JHI’s current cash position, adding US$15million to Eco’s balance sheet, further strengthening the Company’s liquidity position.
Given Eco’s strategic investor base and proven access to the public capital markets, the anticipated addition of JHI’s interest in the Canje Block and its working capital, will further augment the enlarged Group cash position for its share of all near term exploration programs on its current blocks including: 2B in South Africa where drilling preparations for a late Q3 spud are underway and the Eco Orinduik Block offshore Guyana to follow, Block 3B/4B in Orange basin South Africa and elsewhere in the current and future portfolio of the enlarged entity.
“Ahead of our planned drilling campaign on Block 2B offshore South Africa in late Q3 2022, we are also looking to finalise drilling targets in Eco’s Orinduik Block, offshore Guyana. Demonstrating that, as ever, the Eco team are head down and focused on delivering value for shareholders. We look forward to providing further corporate updates as appropriate.”
Could Eco Atlantic really be now placed to be the ‘go-to’ exploration company in the energy mix? As I see it this company has in the last few months partnered up with key companies in some of the world’s most exciting and promising basins, in addition it is financed, particularly with this last deal, and can cover all its ‘near term’ exploration commitments.
Add to that the quality of the basins they are operating in and the quality of their partners and you do get a very warm feeling about the company going forward. The Orange Basin in South Africa has been massively re-risked in recent weeks and of course in Guyana Orinduik looks promising and now with the Canje block could be huge.
Partner wise they have been pretty smart too, in Guyana they have Total and now Exxon whilst in South Africa and Namibia they are working with Africa Oil, Africa Energy and Panoro. This means that in my view success with the drill bit, any finds will be sure to be developed by the big boys in the partnership.
So, all being well Eco are in the process of becoming a very exciting oil company, with the current penchant for exploration drilling they have built a portfolio that will be the envy of companies a great deal bigger than themselves. Any success across the board will leave them strategically well placed, maybe even the go-to exploration company in the world…
Treaty Creek - American Creek
Can block caving tap the immense deep resources in the Golden Triangle?
Resource World - March 7, 2022
By Ellsworth Dickson
As exploration and mining companies in northwestern British Columbia’s prolific Golden Triangle region advance their mining projects to the point where orebodies are being delineated, thoughts are turning to the best mining methods to monetize their huge copper, copper-gold and gold-copper-silver deposits.
By its nature, mining is capital intensive so it is crucial to choose a mining method that is suitable for a deposit’s particular geometry and grade that will generate a profit. There are several common mining methods available, including room and pillar, shrinkage stoping, cut and fill, sublevel caving, longwall mining and block caving.
However, it is block caving that offers some real mining cost savings – in the right circumstances – and which is being given increasing consideration.
Basically, block caving is a way to mine large, fairly low-grade ore deposits at depth utilizing gravity. For block caving to work, the orebody needs to have large dimensions in all three directions – width, length and the vertical extent – with a relatively homogenous grade. Block caving is not suitable for vein deposits, although it’s OK to have mineralized veins within a large homogenous mineral deposit.
...
...
...
Finally, the Treaty Creek project of American Creek Resources Ltd. [AMK-TSXV; ACKRF-OTCBB], 20%, Teuton Resources Corp. [TUO-TSXV; TEUTF-OTC; TFE-FSE], 20%, and Tudor Resources Corp. [TUD-TSXV; TDRRF-OTC; TUC-FSE], 60%, may also fit the bill for block caving. Located 70 km north of Stewart, the current area of focus is on the Goldstorm zone which hosts, in all categories, 24.55 million ounces of gold, 133.98 million ounces of silver, and 1.426 billion pounds of copper and remains open in all directions.
Of note, unlike other Golden Triangle deposits which are copper-dominant, Treaty Creek is gold-dominant. In terms of gold, Treaty Creek is larger than every other Golden Triangle deposit except KSM. A total of 90% of Treaty Creek’s Goldstorm deposit value comes from gold with only 10% from copper and silver. With four known deposits and geophysics indicating total potential resources on a KSM-scale, the current resources are viewed as very expandable.
Treaty Creek drill holes are returning good mineralization down to depths of over 1,200 metres – deeper than any potential open pit mine – so block caving would be a logical consideration.
Read more at:
https://resourceworld.com/can-block-caving-tap-the-immense-deep-resources-in-the-golden-triangle/
Yes Considering MS is an advisor to Techmet, Brian Menell's company, you would think Techmet would pop for the $25 million seed investor position.
Eco (Atlantic) Oil & Gas
Mar 3, 2022
[[ Thanks to Malcy's Blog ]]
Eco has announced that the Joint Venture partnership of Block 2B, offshore South Africa, has entered into a drilling contract for the Island Innovator semi-submersible rig with Island Drilling Company AS for the upcoming drilling of the Gazania-1 well.
The Block 2B JV partners are Africa Energy, with a 27.5% Working Interest (“WI”), a subsidiary of Panoro Energy ASA holds a 12.5% WI and Crown Energy AB indirectly holds the remaining 10%WI. Eco Atlantic will become Operator and hold a 50% WI, subject to near completion of its 100% acquisition of Azinam Group Limited.
The Gazania-1 well is located in the Orange Basin in South Africa. The Orange Basin straddles the offshore waters of Namibia and South Africa, where major discoveries on both the Graff-1 well, drilled by Shell, and the Venus-1 well, drilled by TotalEnergies, have recently been announced.
Colin Kinley Co-Founder and COO of Eco Atlantic commented:
“We are pleased to be making progress in our exploration and drilling plans for 2022. We are planning for mobilization of the rig in late August and to spud shortly after arrival, with the experienced Island Drilling team and the Innovator Semi. We have good support from our partners at Africa Energy, Crown and Panoro and from the engineering advisors at NRG Group. We look forward to a successful, safe and environmentally conscious drilling program in Gazania-1.”
Things are moving apace over at Eco after a barren period in which Guyana waited on operator reluctance and in South Africa the Azinam deal and of course two big finds that somewhat upped the value of the postcode. Readers know that I have kept faith in the Eco team and indeed the shares have doubled since remaining in the Bucket list in early January.
This announcement is therefore very good news indeed, to have hired a rig, completing the Azinam deal and of course a very fine group of partners leaves Eco incredibly well placed right now.
Read at:
https://www.malcysblog.com/2022/03/oil-price-eco-atlantic-hunting-uog/
Thanks for providing the link to the rule
Metals Creek Drill Hole DL21-022 Returns 2.26 g/t Gold Over 22.04 Meters, Including 3.45 g/t Gold Over 10.13 Meters at Dona Lake
Thunder Bay Ontario, March 01, 2022 - Metals Creek Resources Corp. (the “Company” or Metals Creek, TSXV: MEK, OTCQB: MCREF, FRA:M1C1) is pleased to announce diamond drill results for drill holes DL21-022 and DL22-023 from the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).
Drill hole DL21-022 intersected the Main Zone stratigraphy at approximately 518 meters(m) below surface and 68m below the lowermost mine working (455 Level) returning a core length intercept of 3.45 grammes per ton (g/t) gold (Au) over 10.13m (557.00 – 567.13m). This was a part of a broader zone of mineralization of 2.26 g/t Au over 22.04m (549.11 – 571.15m). (See Table 1 Significant Results). Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to disseminated pyrrhotite ranging from 1 to 15% with local pyrite. Alteration consists of moderate to strong hornblende, garnet and grunerite. Primary banding within the iron formation has become more diffuse with an increase in alteration intensity. Visible Gold (VG) was noted in this intercept.
Drill hole DL22-023 intersected the Main Zone stratigraphy at approximately 510m below surface and returned a core length intercept of 4.47 grammes per ton (g/t) gold (Au) over 1.83 meters(m) (586.01-587.84m). Mineralization is hosted within silicate-sulfide iron formation with disseminated to stringer pyrrhotite ranging from 1 to 15% and trace disseminated pyrite. VG was noted in this intercept. DL22-023 was the most northerly hole drilled by the Company to date as shown on the attached longsection in an attempt to further define the northern limit of gold mineralization within Main Zone.
Drilling to date has successfully extended high grade gold mineralization 151m below the lower most mine working, or 596m below surface along with further defining high-grade mineralization 50m south of the Dona Lake mine workings.
Drilling is ongoing and will continue to target the down plunge extension of the mine stratigraphy as well as test peripheral targets which include the North West Zone and the East Iron Formation.
Read more at:
https://www.metalscreek.com/march-1-2022
I had a buy order in on TDameritrade and it was cancelled with this explanation:
AFRICA OIL ANNOUNCES RECORD FINANCIAL RESULTS, SHAREHOLDER DIVIDEND POLICY AND 2022 MANAGEMENT GUIDANCE
February 28, 2022
VANCOUVER, BC, Feb. 28, 2022 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm; AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce its operating and consolidated financial results for the three months and the year ended December 31, 2021, together with its 2022 Management Guidance. The Company is also pleased to announce the introduction of a regular shareholder dividend policy as part of its commitment to returning excess capital to its shareholders. View PDF
Highlights
- Record full-year net income of $190.7 million or $0.40 per share.
- Cash balance at December 31, 2021 of $58.9 million. Our corporate facility has been fully repaid and $100m of the facility remains available for general corporate purposes until December 2022.
- The Company will institute a shareholder dividend policy with an initial 2022 aggregate annual distribution of $0.05 per share (approximately $25 million) to be paid semi-annually, with the first payment payable on March 31, 2022, to shareholders of record at the close of business on March 17, 2022.
- Venus 1-X exploration well results in a major light oil discovery on Block 2913B (the Company has a 6.2% indirect interest through its shareholding in Impact Oil & Gas Limited), offshore Namibia, that together with the nearby Graff-1 discovery on the adjacent Block 2913A (the Company has no interest in this block), herald the opening of a major petroleum province with significant upside potential for the Company.
- Positive year-end 2021 statement of reserves with working interest (W.I.) proved plus probable reserves ("2P") replacement ratio of 102% (year-end 2020: 114%).
- Selected Prime's results net to Africa Oil's 50% shareholding*:
- - full-year W.I. production of 27,300 boepd and economic entitlement production of 29,700 boepd (84% light and medium crude oil and 16% conventional natural gas) are at the top end of 2021 Management Guidance2,3; and
- - In Q4 2021, EBITDAX of $163.4 million (full-year period: $654.5 million)4.
- - In Q4 2021, cash generated from operating activities of $60.6 million (full-year period: $526.7 million, includes $152.5 million of Agbami Security Deposit received).
- - Cash position of $258.9 million and debt balance of $508.4 million at December 31, 2021; Robust Net Debt to EBITDAX of 0.4x in 2021.
- 2022 Management Guidance (refer to page 3 for more details):
- - Average daily W.I. production range of 22,500-25,500 boepd and net entitlement production range of 23,000-27,000 boepd net to the Company's 50% shareholding in Prime, with approximately 84% expected to be light and medium crude oil and 16% conventional natural gas; and
- - Prime's cash flow from operating activities of $300-$400 million net to the Company's 50% shareholding in Prime.
- Inaugural ESG Review published in March 2021, followed by a comprehensive Sustainability Report, including TCFD compliant scenario analysis, published today, 28th February 2022.
- In 2021, the Company set a target to achieve carbon neutrality by 2025. Towards this goal, the Company purchased an initial tranche of offsets covering >20% of Scope 1 and 2 emissions from a Gold Standard certified clean cookstove project in Kenya, and began feasibility studies for direct investment in a proprietary nature-based carbon removal project.
Read at:
https://africaoilcorp.com/news/africa-oil-announces-record-financial-results-sha-122826/