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Received a check for $5,000 today.
Glad I finally got something back.
Happy holidays all.
Management buys more - First Mining Completes $27 Million Non-Brokered Private Placement
August 8th, 2016
VANCOUVER, BC, CANADA – First Mining Finance Corp. (“First Mining” or the “Company”) is pleased to announce that it has completed its previously announced non-brokered private placement financing of 33,750,000 units (“Units”) at a price of $0.80 per unit, raising gross proceeds of $27,000,000 (the “Private Placement”).
Each Unit issued under the Private Placement consists of one common share of First Mining and one-half of a common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of First Mining at $1.10 for a period of 36 months from the date of closing of the Private Placement.
All securities issued in connection with the Private Placement are subject to a Canadian statutory hold period of four months and one day from the date of closing of the Private Placement. In addition, securities issued to United States accredited investors in connection with the Private Placement are subject to the applicable hold periods required under United States securities laws. As the Private Placement was conducted on a non-brokered basis, no finders’ fees were paid by the Company in connection with the Private Placement. Certain directors and officers of the Company subscribed for an aggregate of 1,139,659 Units in the Private Placement.
Keith Neumeyer, Chairman of First Mining, states: “We are very pleased with the incredible level of interest we received in this financing which is yet another milestone in the rapid growth of the Company. With this financing, First Mining is now in a very strong financial position, with cash on hand of approximately $37.3 million. We welcome the new shareholders to our Company, including various institutional shareholders. The addition of capital to the Company allows us to generate internal value from our projects while at the same time allows us to pursue additional accretive acquisitions.”
The Company intends to use the proceeds of the Private Placement for potential future property acquisitions, economic studies and resource estimates on the Company’s current projects, and for general working capital and corporate purposes.
Corporate Update
Further to the Company’s news release of July 12, 2016, First Mining has issued 820,437 common shares to First Majestic Silver Corp. (“First Majestic”) in connection with the settlement of the debt owed by a wholly-owned subsidiary of First Mining to First Majestic. The shares issued pursuant to the debt settlement are subject to a four-month hold period which will expire on the date that is four months and one day from the issue date of such shares.
Following this share issuance, the remaining debt of approximately US$675,000 will be paid in cash by First Mining to First Majestic in twelve equal monthly installments in accordance with the terms of the debt settlement agreement. The first of these payments was made at the end of July 2016, and the last payment will be made at the end of June 2017.
In addition, First Mining has issued an aggregate of 973,996 common shares and paid approximately $230,000 in cash to Haywood Securities Inc. as payment of a finder’s fee due in connection with its recent acquisition of Tamaka Gold Corporation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT FIRST MINING FINANCE CORP.
First Mining is a mineral property holding company whose principal business activity is to acquire high quality mineral assets with a focus in the Americas. The Company currently holds a portfolio of 28 mineral assets in Canada, Mexico and the United States with a focus on gold. Ultimately, the goal is to continue to increase its portfolio of mineral assets through acquisitions that are expected to be comprised of gold, silver, copper, lead, zinc and nickel.
For further information, please contact Patrick Donnelly, President at 604-639-8854, or Derek Iwanaka, Vice President, Investor Relations at 604-639-8824, or visit our website at www.firstminingfinance.com.
Pat interview at sprott July 30th.
Segment #5 http://www.kereport.com/2016/07/30/sprott-natural-resource-symposium/
Agreed. All numbers reported from the company are in CAD$ as its a Canadian company, so keep that in mind.
I hold my shares in a CAD$ account as I'm Canadian.
Quite the benefit for us as USD>CAD is 1:1.32 right now. Makes the gold cheaper to produce, I expect upcoming PEA to be very favorable.
Thanks for the link. Might have some more buyers again today. Volume weak past few days.
Financing is at 0.80CAD which is about 0.62USD.
First Mining Increases Private Placement From $16 Million To $27 Million
https://www.firstminingfinance.com/news-room/first-mining-increases-private-placement-from-usd16-million-to-usd27-million
VANCOUVER, BC, CANADA – First Mining Finance Corp. (“First Mining” or the “Company”) is pleased to announce that, due to significant interest from investors, including institutional investors, the Company has decided to increase its previously announced non-brokered private placement financing to 33,750,000 units (“Units”) at a price of $0.80 per unit to raise gross proceeds of up to $27,000,000 (the “Private Placement”).
Each Unit will still consist of one common share of First Mining and one-half of a common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of First Mining at $1.10 for a period of 36 months from the date of closing of the Private Placement.
Keith Neumeyer, Chairman of First Mining, states: “We have received an incredible level of interest in our financing, and as a result, we have decided to increase the size of the financing to cater to orders from institutional and other investors. The response to our financing has been overwhelming, and even with this increase, we are still not able to accommodate all of the orders and interest from investors.”
Completion of the Private Placement remains subject to the approval of the TSX Venture Exchange. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months and one day from the date of closing of the Private Placement. The Company intends to use the proceeds of the Private Placement for potential future property acquisitions, economic studies and resource estimates on the Company’s current projects, and for general working capital and corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT FIRST MINING FINANCE CORP.
First Mining is a mineral property holding company whose principal business activity is to acquire high quality mineral assets with a focus in the Americas. The Company currently holds a portfolio of 28 mineral assets in Canada, Mexico and the United States with a focus on gold. Ultimately, the goal is to continue to increase its portfolio of mineral assets through acquisitions that are expected to be comprised of gold, silver, copper, lead, zinc and nickel.
For further information, please contact Patrick Donnelly, President at 604-639-8854, or Derek Iwanaka, Vice President, Investor Relations at 604-639-8824, or visit our website at www.firstminingfinance.com.
ON BEHALF OF THE BOARD OF
FIRST MINING FINANCE CORP.
“Keith Neumeyer”
Keith Neumeyer
Chairman
Added 60 put contracts @ 216.50 for Aug 5 at $1.45. Maybe I'm crazy :)
Bought PUT SPY 10x 7/29 216 @ $1.39.
Let's see how many more all time high this market can push :)
I didn't mind at the beginning with GCU, PKL and GOD (companies they bought out). I simply swapped my shares from FF -> these other companies that were being bought out, for arbitrage. For GCU, it was as high as 30% discount for me, and a no-brainer. Unfortunately I think the market has figured it out, and won't happen again.
I don't mind them continuing to issue shares IF the # of ounces we get per share is higher than what they dilute in %.
Sold small portion of my position yesterday, missed runup today, but feels like it's too fast too soon. Purchased these shares at $0.30CAD/$0.24USD each last year.
Will continue to sell small chunks when price increases until my cost basis is covered then will ride the rest.
Based on the posts I'm seeing on stockhouse and here now, seems like everyone is expecting the moon today, tmrw, very shortly. Need to level set expectations - this is a long term play, not a short term trade.
First Mining Announces Private Placement Financing
July 11th, 2016
RELEASED JULY 11th, 9am
VANCOUVER, BC, CANADA – First Mining Finance Corp. (“First Mining”) is pleased to announce that it intends to complete a non-brokered private placement financing of up to 20,000,000 units (“Units”) at a price of $0.80 per unit to raise gross proceeds of up to $16,000,000 (the “Private Placement”).
Each Unit will consist of one common share of First Mining and one-half of a common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of First Mining at $1.10 for a period of 36 months from the date of closing of the Private Placement.
Completion of the Private Placement remains subject to the approval of the TSX Venture Exchange. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months and one day from the date of closing of the Private Placement. The Company intends to use the proceeds of the Private Placement for potential future property acquisitions, economic studies and resource estimates on the Company’s current projects, and for general working capital and corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT FIRST MINING FINANCE CORP.
First Mining is a mineral property holding company whose principal business activity is to acquire high quality mineral assets with a focus in the Americas. The Company currently holds a portfolio of 28 mineral assets in Canada, Mexico and the United States with a focus on gold. Ultimately, the goal is to continue to increase its portfolio of mineral assets through acquisitions that are expected to be comprised of gold, silver, copper, lead, zinc and nickel.
For further information, please contact Patrick Donnelly, President at 604-639-8854, or Derek Iwanaka, Vice President, Investor Relations at 604-639-8824, or visit our website at www.firstminingfinance.com.
ON BEHALF OF THE BOARD OF
FIRST MINING FINANCE CORP.
“Keith Neumeyer”
Keith Neumeyer
Chairman
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things completion of the Private Placement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the risk that the Company is not able to find suitable investors for the Private Placement or does not receive the approval of the TSX Venture Exchange. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, First Mining does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Insider sells are reported on SEDAR.com, which you can view @ canadianinsider.com
There have been no insider sells from management. Perhaps those selling from aquistions.
I've only posted the 'facts' available from the video.
My opinion is that if they want to raise some $ at $0.67 (small amount only) for increasing resources n their existing properties - that's fine.
The warrants to me also look fine. It's pretty much more financing at $0.95 for extra cash.
Small juniors, including First Majestic and First Quantum back in the day also did raises at very low prices < $0.25 and $0.50, and their stocks are doing just fine today.
This company is a great opportunity - and Keith himself owns 10 million in shares and options. He won't be shooting himself in the foot.
If you watch this video, details are about 45minutes in.
Fi Tuesday, 06/28/16 09:55:27 PM
Re: None
Post # of 1440
Found this on stockhouse board... look like private placement is happening. Question is how much and for what:
http://pro.moneymappress.com/RGDFM4/ERGDS612/?email=BAZRADWAN%40gmail.com&src=b1&a=8&o=14104&s=19342&u=4036208&l=614909&r=MC2&vid=z6l6bg&g=0&h=true
To save some time for people... here's what the offering will be:
- Independent analyst report, available for their subscribers
- Guaranteed price @ $0.67CAD per share
- Selling in units of 20,000 shares required
- Warrants:
o Every 2 shares purchased -> 1 warrant received
o 3 year warrants @ $0.95 each.
- Claim that moneymappress does not get any compensation for advertising FF, rather from subscriber fees.
Not sure of quantity being offered.
Found this on stockhouse board... look like private placement is happening. Question is how much and for what:
http://pro.moneymappress.com/RGDFM4/ERGDS612/?email=BAZRADWAN%40gmail.com&src=b1&a=8&o=14104&s=19342&u=4036208&l=614909&r=MC2&vid=z6l6bg&g=0&h=true
Some reason for decent declines (apart from today's move).
http://www.financialpost.com/markets/data/market-short_pos.html
Short interest up to 3.8 million shares from 0.8 million shares on June 25th.
First Mining Finance Corp com FF 3,883,438 876,116 3,007,322
Let the short squeeze begin.
New options granted to mgmt.
Strike price is reasonable - incentive for mgmt to get high returns for shareholders. Surprised to not see Keith on this list though...
These options expire in 5 years.
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction Volume or Value Price
Jun 22/16 Jun 16/16 Osterman, Christopher Direct Ownership Options 50 - Grant of options 2,500,000 $0.750
Jun 22/16 Jun 16/16 Polman, Raymond L. Direct Ownership Options 50 - Grant of options 300,000 $0.750
Jun 22/16 Jun 16/16 Shaw, David Andrew Direct Ownership Options 50 - Grant of options 250,000 $0.750
Jun 21/16 Jun 16/16 Poon, Andrew Winston Direct Ownership Options 50 - Grant of options 350,000 $0.750
Jun 21/16 Jun 16/16 Iwanaka, Derek Direct Ownership Options 50 - Grant of options 350,000 $0.750
Jun 21/16 Jun 16/16 Donnelly, Patrick Michael Direct Ownership Options 50 - Grant of options 2,500,000 $0.750
Another new interview, from this weekend:
http://www.tfmetalsreport.com/podcast/7683/update-keith-neumeyer
Enjoy.
Keith doing a lot of interviews to get the word out.
New interview Keith Neumeyer for FF/FFMGF -
Still waiting here too. No $$ back yet.
Canadian markets are closed today on Monday May 23rd
http://www.firstminingfinance.com/assets/docs/first_mining_presentation_april-8_2016-%28cdn%29.pdf
Actually... :) a bit more than that.
Major Shareholders
Haywood Securities and Clients 4.5%
Management/Directors 4.3%
FirstMajestic Silver Corp. 4.0%
Global X Gold Explorers ETF 3.4%
Sprott Group and Clients 1.4%
According to SEDI filings, Keith Neumeyer owns a total of 9.925 million shares of FF, plus he owns options in addition.
2824745 2016-04-11 2016-04-12 Direct Ownership : 22 - Acquisition or disposition pursuant to a take-over bid, merger or acquisition +125,000 9,925,000
Vote to be held April 25, 2016 at 10:00 a.m.
Copy paste didn't work so well, but here's the filing:
Toronto,
April 1
, 2016.
Dear shareholder,
We are
sending you the attached notice of meeting along with the management information circular
(the
“
Information
Circular
”) with regard to the special meeting of shareholders (the
“
Meeting
”)
of Brionor Resources Inc. (the “
Corporation
”) that will be held on Apr
il 25, 2016 at 10:00 a.m.
at 150 York Street, Suite 410, Toronto, Ontario, M5H 3S5.
One of the purposes of the Meeting is to obtain your approval regarding the sale of the
Corporation’s interest in the Pitt Gold Project (as defined herein) in favour of Fir
st Mining Finance
Corp. (“
First Mining
”).
A property purchase agreement dated March 4, 2016 (the “
Agreement
”) was concluded between
the Corporation and First Mining pursuant to which First Mining will purchase from the
Corporation a 100% interest in the Pi
tt Gold Project (the “
Transaction
”). The aggregate purchase
price payable by First Mining to the Corporation is $1,250,000, to be satisfied by First Mining at
closing by delivery to the Corporation of a certificate representing 2,535,293 common shares of
F
irst Mining at a deemed issuance price of $0.3944 per common share
(being the 20 day volume
weighted average trading price of the First Mining common shares prior to the date of the
Agreement)
and by a cash payment of $250,000.
This Agreement is subject to
the following principal conditions:
1.
The approval of the Transaction by the Corporation’s shareholders; and
2.
The approval of the TSX Venture Exchange.
We believe this Transaction is favourable for the Corporation and its shareholders as it will allow
us to
discharge our current liabilities, enhance our working capital and allow us to participate
meaningfully in a new “mineral bank” business model through our holdings of First Mining
common shares. Since inception in March 2015, First Mining has acquired a po
rtfolio of 20+
mineral assets in Canada, United States, and Mexico, with an aim to hold them until the capital
markets for commodities and mining markets improves. At which point,
First Mining aims to enter
into
third party agreements to advance each proje
ct through exploration and development. The
management of First Mining has decades of experience in evaluating, exploring and developing
mineral assets and continues to review opportunities for strategic acquisition(s).
The Information Circular describes
the Transaction in detail and the procedures to be followed
preceding the Meeting. Please review the Information Circular carefully, as it has been prepared
to help you make an informed decision.
The board of directors of the Corporation has
unanimously ap
proved this Transaction and determined that it is in the best interest of the
Corporation, and recommends that all shareholders vote FOR the Transaction Resolution
(as defined herein).
In accordance with the requirements of the
C
anada Business Corporations
Act (the “
CBCA
”)
,
the
Transaction Resolution must be approved by not less than two
-
thirds (66
?
%) of the votes cast at
the Meeting by the shareholders of the Corporation (in person or by proxy). Without the required
level of shareholder approval, the propo
sed Transaction cannot be completed.
This is an important matter affecting the future of the Corporation, and it is important that
your common shares be represented at the Meeting, regardless of how many common shares
of the Corporation you own. Whether o
r not you are able to attend in person, we urge you
to complete, sign and date the enclosed proxy form and return the enclosed proxy form
following the instructions therein.
On behalf the Corporation, we would like to thank you for your past and ongoing su
pport, and
look forward to working with all of the Corporation’s shareholders to ensure the approval process
runs as smoothly as possible.
Best regard
Received this message in my inbox from Yahoo groups.
Does anyone know if we need to do anything to be included in the settlement? I have large losses from this holding like many others.
Really cheap shares today. Went ahead and purchased some more. Looks like some scare is spilling over from BAJ.
American Manganese Inc. Receives Draft Pre-Feasibility Study Sections
April 13, 2012 - Vancouver, British Columbia
American Manganese Inc. (“American Manganese” or the “Company”), (TSX.V: AMY; Pink Sheets: AMYZF; Frankfurt: 2AM), reports the Company has received summarized sections of the first draft of the Preliminary Feasibility from Tetra Tech Wardrop (“Tetra Tech”). Distribution to the directors and management will be completed in the next 48 hours and the Company will be reviewing the preliminary documents over the next several days.
That was compared to the PEA which had production costs at around $0.44. He has always said that the costs would be expected to be higher than $0.44 due to rising costs during his interviews for as long as I've been following the company.
Please follow the link below to listen to the April 10, 2012 interview of Larry Reaugh, President & CEO of American Manganese Inc.(TSX.V: AMY; Pink Sheets: AMYZF; Frankfurt: 2AM), on Jay Taylor's radio program.
www.webeatthestreet.com/media/archives/AmericanManganese20120410.mp3
American Manganese Inc is featured as \"Miner of the Week\" in this weeks Trader Tracks from Roger Wiegand
To view this weeks Trader Tracks from Roger Wiegand featuring American Manganese Inc as "Miner of the Week", please click this link:
http://www.amydata.com/data/TT_03262012.pdf
We invite you to view the MANGANESE INVESTING NEWS article featuring American Manganese Inc.:
GREEN ENERGY MAY SPUR US-MADE ELECTROLYTIC MANGANESE DEMAND
Advancements and innovations in green energy technologies could lead to a surge in demand for electrolytic manganese metal. With 98 percent of the global manganese output coming from China, demand for electrolytic manganese may in turn lead to a renaissance in the metal’s production in North America.
http://manganeseinvestingnews.com/2141/green-energy-may-spur-us-made-electrolytic-manganese-demand/
Information Contact
Connie Fischer, Investor Relations
Head Office: 2A 15782 Marine Drive, White Rock, B.C. V4B 1E6
Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: connieir@amymn.com or info@amymn.com
www.americanmanganeseinc.com
Dear Shareholders and Friends,
In a recent interview with Streetwise Reports, Dr. Michael Berry, publisher of Morning Notes, and Chris Berry, founder of House Mountain Partners, commented on American Manganese Inc. Years of supply mismanagement have left the U.S. dependent on foreign sources for critical metals like graphite, vanadium and manganese. In this exclusive interview with The Critical Metals Report, the Berrys discuss what early-stage mines close to home could be the first to bolster supply in the U.S.
Dr. Michael Berry served as a professor of investments at the Colgate Darden Graduate School of Business Administration at the University of Virginia from 1982-1990, during which time he published a book, Managing Investments: A Case Approach. His publication, Morning Notes, analyzes emerging geopolitical, technological and economic trends. He travels the world with his son, Chris, looking for discovery opportunities for his readers.
Chris Berry founded House Mountain Partners in 2010. The firm focuses on the evolving geopolitical relationship between emerging and developed economies, the commodity space and junior mining and resource stocks positioned to benefit from this phenomenon. Widely quoted in the press and a frequent speaker at conferences throughout the world, Berry holds a MBA in finance with an international focus from Fordham University.
We thought you'd be interested in reading their comments on American Manganese Inc. Scroll Down to see these comments.
Regards,
Larry W. Reaugh
President and Chief Executive Officer
Michael Berry & Chris Berry's Comments:
"American Manganese Inc. is trying to position itself to be the first producer of electrolytic manganese outside of China and South Africa by 2014. It is developing the Artillery Peak deposit in northwest Arizona, which is 13.8 Blb low-grade (2.84%) manganese in the indicated category and about 3.5 Blb in the inferred category (also at 2.84%). American Manganese is aiming to institute a patent-pending process that it developed with Kemetco Research Inc. where it will produce electrolytic manganese for about $0.70/lb. Electrolytic manganese sells on world markets right now from between $1.80 and $1.50, which creates about a $1 margin. Given that China produces roughly 98% of world Electrolytic Manganese Metal (EMM) supply and costs of production appear to be increasing there, American Manganese is well positioned to compete in this market. . .
One of the themes I think you'll see in mining is the drive for sustainability and efficiency. The lowest cost producer almost always wins and these two factors can lead to attaining lowest cost status. This is what American Manganese is aiming for in instituting this process. The process the company proposes to use will use less water and electricity in the production of EMM. Recycling factors prominently here. Also, the low cost of electricity in Arizona adds to the strong economics of the project. The biggest win for the company has been that it was able to produce EMM with this process on a pilot scale." View Article
Information Contact:
Connie Fischer, Investor Relations
2A - 15782 Marine Drive, White Rock, BC Canada V4B 1E6
Phone: 604-531-9639 Fax: 604-531-9634
Email: connieir@amymn.com or info@amymn.com
aneseinc.com
http://www.kereport.com/2011/11/26/companies-macroeconomic-issues/
Section 6
Larry Reigh says Wardrop has 3 weeks shutdown period in December. So don't expect prefeas until late Jan/Feb. Remaining balance of pilot plant testing coming 'soon'
Current price is $1.83/$1.84 US price. Already down 10% from 6-8 weeks ago, but price holding better than other resources.
I added a few thousand myself as well, waiting on pending news
From American Manganese IR
We invite you to view the following article by RareMetalblog:
Pacific Northwest National Laboratory, which will work with the Ames Lab to reduce dependence on critical materials like rare earths in wind turbines and electric vehicles by developing a new material based on manganese as a rare-earth free alternative to rare-earth permanent magnets.
These manganese composite magnets hold the potential to double the magnetic strength relative to current magnets while using raw materials that are inexpensive and abundant.
“If this over-the-horizon advanced research effort is successful, the manganese composite magnets could reduce U.S. dependence on expensive rare-earth material imports and reduce the cost and improve the efficiency of green-energy applications, such as wind turbines and electric vehicles,” the release states.
Follow this link to read the full article: http://www.raremetalblog.com/2011/11/looking-to-replace-neodymium-with-cerium-in-the-magnet-world.html
Wednesday, November 09, 2011
Looking to Replace Neodymium with Cerium in the Magnet World
Now we know why Molycorp keeps hanging around the Ames Laboratory down in Iowa – hoped-for new applications for the rare earth element, cerium.
The U.S. Department of Energy’s national lab will receive $4.5 million in DOE funding to advance two more cutting-edge research projects at the Advanced Research Projects Agency-Energy’s Rare Earth Alternatives in Critical Technologies program – in short, the non-descript place with the sign out front that - hopefully - just says ARPA-E/REACT.
“The first of the two projects is for advanced research to develop a new class of high-strength permanent magnets using the rare-earth element cerium…The research will look at combining other metallic elements with cerium to create a new powerful magnet with high-temperature stability for electric vehicle motors. Partners in the project are General Motors, NovaTorque and Molycorp Minerals,” according to a release put out by the folks at DOE/Ames Laboratory and posted on physorg.com
Cerium is four times more abundant than neodymium, which is the critical element used in today's permanent magnets.
Here’s the interesting bit: Molycorp will provide the three-year, $2.2 million project the important materials supply chain and development path for commercialization of these materials, the release says.
Cerium will apparently be one of the top two rare earths produced by Molycorp, in terms of volume, once its Mountain Pass mine cranks up production. Cerium and lanthanum are two of the most common REEs out there.
"If successful in this high-risk, high-reward research project, the Ames led team will blaze a transformational new direction in high-strength magnets, enabling magnet manufacturing from Cerium, a material much more available in the U.S. than today's state-of-the-art approaches," said Mark Johnson, ARPA-E Program Director for REACT.
The second project doesn’t involve Molycorp this time, but Pacific Northwest National Laboratory, which will work with the Ames Lab to reduce dependence on critical materials like rare earths in wind turbines and electric vehicles by developing a new material based on manganese as a rare-earth free alternative to rare-earth permanent magnets.
These manganese composite magnets hold the potential to double the magnetic strength relative to current magnets while using raw materials that are inexpensive and abundant.
“If this over-the-horizon advanced research effort is successful, the manganese composite magnets could reduce U.S. dependence on expensive rare-earth material imports and reduce the cost and improve the efficiency of green-energy applications, such as wind turbines and electric vehicles,” the release states.
In 2011, DOE has awarded $156 million to ARPA-E for 60 different high-risk / high reward research project related to renewable power, energy efficiency, and national energy security. For a complete list of projects visit: http://www.arpa-e.energy.gov.
The plot gets thicker.
Information Contact:
Connie Fischer, Investor Relations
2A - 15782 Marine Drive, White Rock, BC Canada V4B 1E6
Phone: 604-531-9639 Fax: 604-531-9634
Email: connieir@amymn.com or info@amymn.com
Website: www.americanmanganeseinc.com
Got some funds today, happy to add a few thousand more shares at $0.45
If things go as planned, AMY should be releasing several news items in the next few weeks that I expect positively impact SP.
New presentations, dated November 8
http://www.amydata.com/data/Powerpoint/AMY_Nov8_2011ver1.pdf
http://www.amydata.com/data/Factsheets/BatteryFactSheet_Nov8_2011.pdf
http://www.amydata.com/data/Factsheets/amy_FactSheet_Nov8_2011.pdf
Kemetco Research Inc. has completed the NI43-101 compliant PILOT TESTING of the Artillery Manganese Resource. Results were gratifying in which 92.7% recovery was achieved and liquid solid separation operated 4X faster than expected. Filtration, Chilling and Electroplating are ongoing. The process design and research to produce Lithium Manganese Battery Powder is ongoing.