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Right on Bobwins ..... Been patiently waiting for this quarter to just as you said, be the first quarter with a solid 3 months of substantially better gold prices. This should fall to the bottom line of the Mids and produce the first measurable real results that the market can extrapolate successive quarters positively. The banks and unrest should support this thesis as well.
If the general market gets dicy, newly deployed funds into the gold sector looking for security, could get the herd following.
In particular for me, GORO SP underperforming and ORV.t Orvanas near silence hold a lot of leverage to the bump in Au.....
Hoping GORO proves some future CF that says the divvy is increasing soon and ORV, its possible to have an annualized CF based off last quarter that rivals its market cap and a cash position well over half its market cap.
GWA Gowest gold. Should have derisking news next day or 2 that puts them back in play with catalyst to move towards a more fair value as they move their development forward after a 2 year hibernation.
SSKILLS1 Since I replied to you I knew you would get it here.
2) Yes it does. It is the current share price time the # of average shares. Hope this helps.
Does the $7500 volume have to compute for that day we try to make the trade? I figured it was going to be a 5 day average or diff formula
ORV.TO qualify for pic 10 yet?
B) Minimum Dollar Volume: $7,500.00
Also how is this computated?
Thanks
Orvana ORV.T Trading at 1 x EBITDA - One of the best values out there, Cleaner balance sheet on the way. 100K oz production at $1100 AISC will provide some stacking cash coming quarters. Investors will eventually notice Orvana has reduced risk and big leverage.
100K+ profitable production, 2 mines, large resource and $20M market Cap - Show me a better leverage play.
I tried picking ORV in Pic 10 contest but not enough volume to qualify. Go figure. Probably still no one will buy it, since there must be some reason its trading so low LOL!
since CAPEX and debt are on the way down. Investors will notice the increasing cash balance coming quarters.
https://www.orvana.com/English/news/news-details/2019/Orvana-reports-improved-second-quarter-financial-results/default.aspx
ORVANA REPORTS IMPROVED SECOND QUARTER FINANCIAL RESULTS
05/14/2019
HIGHER GOLD PRODUCTION AND LOWERED CONSOLIDATED UNITARY COSTS
ON TRACK TO DELIVER 2019 PRODUCTION GUIDANCE
PURCHASE AGREEMENT TO ACQUIRE
TAGUAS GOLD PROPERTY, SAN JUAN, ARGENTINA (No cash No dilution)
Second Quarter Fiscal 2019 Highlights:
Increased gold production of 27,306 ounces and 1.4 million pounds of copper
Delivered improved COC of $971 and AISC of $1,107
On track to achieve year-end consolidated production guidance and lower cash costs
Revenue of $36 million
EBITDA of $8.3 million
Net Income of $3.3 million
Cash balance of $9.3 million as of March 31, 2019
Increased consolidated gold production of 27,306 ounces compared to 27,272 ounces in Q1 2019 and 24,788 ounces compared to the same quarter in 2018.
FY2019 to date gold production of 54,578 and 2.8 million pounds of copper.
Improved consolidated cash costs:
COC of $971 - 5% lower compared to $1,025 in Q1 2019 and 8% lower compared to $1,055 for the same quarter in 2018.
AISC of $1,107 - 5% lower compared to $1,161 in Q1 2019 and 15% lower compared to $1,309 for the same quarter in 2018.
Increased EBITDA of $8.3 million and $12.7 million for the first half of fiscal 2019 compared to $4,5 million in the same quarter in 2018.
Increased Net income of $3.3 million and $2.3 million for the first half of fiscal 2019 compared to a loss of $3.5 million in the same quarter in 2018.
The development and engineering of a Sulphidization-Acidification-Recycling-Thickening ("SART") circuit, and associated leach pad, continues to advance. This undertaking is designed to add an additional three years of mine life to the Don Mario operations, commencing in FY 2021, subject to completion of technical, economic and funding reviews.
Successful re-financing in 2019: In the second quarter of fiscal 2019 the Company, through its wholly-owned subsidiary OroValle in Spain, closed a €6 million syndicated credit facility with three Spanish Banks. On completion of the credit facility, Orvana repaid the full Samsung C&T Prepayment Facility, originally entered into in August 2016.
Subsequent to March 31, 2019, the syndicated credit facility was increased by €2 million, for a total amount of €8 million.
On track to maintain fiscal 2019 guidance: Based on operating results generated from the first half of fiscal 2019, the Company is confident that it will achieve its stated fiscal 2019 consolidated production of 100,000 - 110,000 ounces of gold and deliver on COC guidance of $950 - $1,050 and AISC of $1,150 - $1,250
Juan Gavidia, CEO of Orvana Minerals stated: "Having already established a track record of consistent operational performance, Orvana is now clearly delivering on unitary costs, and profitability metrics. Once again, we must give recognition to our local teams in Spain and Bolivia for their continued outstanding contribution, while keeping operational safety measures as its overriding principle. We are firmly committed to delivering on our production guidance and ensuring extended mine lives for our assets in Spain and Bolivia. We look forward to updating our shareholders in the near future."
If one of my first pics is a freeze
When I make the choice to replace the freeze, does it use a trade?
Thanks in advance
America is losing battery metals arms race. US Senate Feb 2019
https://www.designnews.com/electronics-test/lack-minerals-threatening-americas-energy-future/177607494160239
https://www.miningnewsnorth.com/story/2019/02/01/news/america-is-losing-battery-metals-arms-race/5611.html
https://www.benchmarkminerals.com/benchmarks-minerals-simon-moores-warns-senate-us-a-bystander-in-battery-raw-materials/
http://www.syrahresources.com.au/application/third_party/ckfinder/userfiles/files/Germany%20and%20France%20Launch%20%242%20Billion%20Kick-Start%20for%20battery%20Cells(1).pdf
GOOD.V Goodlife Networks Conf Call and Numbers tomorrow
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2019) - Good Life Networks Inc. (TSXV: GOOD) (FSE: 4G5) ("GLN", or the "Company"), a Vancouver-based programmatic advertising technology company, will release its fourth quarter audited financial and operating results at 7:50am EST (4:50am PST) Thursday, April 4, 2019. GLN will then host a conference call beginning at 11:00 am EST (8:00 am PST) to discuss the results.
Conference Call Access
To access the conference call by phone, please dial the following numbers.
Canada/USA TF: 1-800-319-4610
International Toll: +1-604-638-5340
Germany TF: 0800-180-1954
UK TF: 0808-101-2791
Sprott Weekly Gold Bulletin. One of the better reads in awhile for me.
Hope you see what I see.
http://sprott.com/insights/gold-bulletin-3-25-2019/?utm_source=Sprott%27s+Thoughts+Newsletter&utm_campaign=90c7ca22ec-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_e797de09c2-90c7ca22ec-211626305
GOOD.v up 13% to .50 today. Getting Gooder Now up about 60% in 6 weeks with no sighs of slowing down. Closed at the latest 52 week high.
Humm the chance of another acquisition or nailing a large contract vs the chance business goes soft? Ill hold for Q1 numbers. Going to get some more attention when it passes a buck.
High fives to anyone else that got in.
Checkmate28
GORO Gold Resource Corp. Last post I called a near term double off the current cheap valuation of GORO shares.
News just out today the Arlington Group Asset Management Limited group put out a report. Analyzed 2 ways at over double the price of todays shares with a prediction for a hefty dividend increase which is what I see coming and inevitable.
The complete report.
http://goldresourcecorp.com/content/arlington-group-20190319.pdf
http://www.agam.co.uk/ Arlington Group Asset Management page
Report Conclusion:
Gold Resource Corp is at a significant stage in its development. The
Oaxaca mining unit in Mexico is a strong cash flow generator in its own
right and looks forward to mining upwards and laterally at Switchback.
Over the years to come, this offers the potential for an increase in
precious metal grades, turning the trend of production back towards gold.
This, we conservatively estimate, will allow Gold Resource Corp to
maintain, at the very least, cash flow from operations at approximately
$30m.
Near-term gold production from Isabella Pearl in Nevada opens up a
new production hub, which we forecast will generate between $20-30mln
in additional cash flow from operations from year two.
With between $50-60mln of annual cash flow from operations once
Isabella Pearl reaches steady state, Gold Resource Corp will soon have to
consider how to allocate the cash flow, after considering sustaining and growth capital needs.
With the company’s strong dividend paying
record and philosophy, the potential for up to $20mln of this cash flow
being set aside for dividends seems high.
When considering Price to Cash Flow multiples (P/CF), Arlington
Group calculate the large-capitalisation, North American precious-metals
sector trades on 11.8 times. If we apply this multiple to our projected
future cash flows in 2021, we generate an equity value of US$671mln, or
US$11.63 per share.
The company also appears undervalued when assessing value on a Net
Asset Value (NAV) basis, trading on only 0.56x. Since Gold Resource
Corp is a high-quality company, with near-term growth and no debt, we
believe a 1.2 times NAV multiple is justified, bringing our fair value
forecast to US$8.47.
GORO Gold Resources Is screaming cheap. The selloff was unwarranted.
Previously a one mine operation, soon June 2019 to be a 2 mine operation with only about $3M debt they took on to build the New Nevada open heap leach operations. Still only 61M OS and CAPEX is on the decrease.
Whats going to happen when the new gold bars start coming off at a rate of 30k - 40k Oz/year this June with cash costs near $675?
No brainer anywhere near $4
I see an easy double from here by June if POG holds
Checkmate28
Q1 Typically the low quarter for advertising.
I like the fact that their tech is not tracking you like Facebook. Should help land business.
The gaming acquisition leads to a 100 billion market. Lot of contracts are north of $1B. They have a chance.
These guys are promoters. They should know how to get the word out. Directors are heavy as well.
Asked if they were looking for money.
Financing opps.
Chuckled, with the bank line were good!
CEO Thinks the 60 Is conservative. Like you said , we'll wait to see but they have been towing the line thus far.
Good Life Networks Inc GOOD/CN GOOLF
MC $25 Million Canadian ... Trading at 3X EBITDA (12mth trail revs)
Guiding for $60M in revs this year.
Growing revenues and CF I had to buy some.
I like the management team and directors.
Let me know if you guys like this as much as me.
Iv'e never seen anything like this - CEO gives presentations like a rock star.
Spartex, I going to tip a cold one for you! Gotta say I didn't see it coming.
PRESS RELEASE ORVANA REPORTS Q1 2019 FINANCIAL RESULTS; CONSISTENT PERFORMANCE IN LINE WITH GUIDANCE; EFFORTS TO IMPROVE UNIT COSTS UNDERWAY
02/12/2019 All Amounts in US Dollars Unless Otherwise Stated
First Quarter of Fiscal 2019 Highlights:
Quarterly gold production of 27,272 ounces and copper production of 1.4 million pounds;
Consolidated COC and AISC of $1,025 and $1,161,
Coming down
EBITDA of $4.4 million; Trading at 1.5 x Annualized
Revenue of $36.3 million; and
Cash balance of $8.3 million as of December 31, 2018.
These results with $1223 gold Another 100/oz going to add $10M in cash
TORONTO, Feb. 12, 2019 /CNW/ - Orvana Minerals Corp. (TSX:ORV) (the "Company" or "Orvana") announced today financial and operational results for the first quarter of fiscal 2019 ("Q1 2019"). The Company is also providing financial and operational updates for its El Valle and Carlés Mines (collectively, "El Valle") operations in northern Spain, and for its Don Mario Mine operations in Bolivia.
The audited consolidated financial statements for Fiscal 2018 ("2018 Financials") and Management's Discussion and Analysis related thereto ("2018 MD&A") are available on SEDAR and on the Company's website at www.orvana.com.
The Company is pleased to report the following positive developments in Q1 2019:
El Valle – Consistent performance :
El Valle delivered 7% higher gold production (16,546 oz) in the first quarter of fiscal 2019 compared to the fourth quarter of fiscal 2018 (15,490 oz), due to 6% grade increase. The ratio of oxides ore processed in the mill was at the level of 41% and mechanical advance rates in oxides areas reached 1,906 meters in the first quarter of fiscal 2019.
Don Mario – Life of mine extension underway :
Don Mario delivered 19% lower gold production (10,726 oz) in the first quarter of fiscal 2019 compared to the fourth quarter of fiscal 2018, due to a lower head-grade area mined, according to plan and is on track to meet fiscal 2019 guidance. Fiscal 2019 ore will continue to be sourced from the Cerro Felix pit and processed at a high recovery rate achieved by the re-commissioned CIL circuit.
The Company is fully committed with the life of mine extension:
• Next focus for life of mine extension is processing the existing oxides stockpile. This undertaking will require the implementation of a SART circuit, subject to the completion of technical reviews supportive of the project and securing the required financing. The SART circuit, together with the existing flotation and CIL-CIC circuits, best positions Don Mario for a longer mine life based on processing flexibility. Easy Breezy low cost couple year operation here
• Brownfield and greenfield exploration continues around Don Mario and Cerro Felix mines, in the Cristal schist belt and in Eastern schist belt.
• An evaluation of re-processing tailings is in progress to determine the viability of recovering gold from material deposited in the tailings impoundment since the commencement of production at Don Mario. Another bonus
Longer term financing structure:
As previously disclosed, in the first quarter of fiscal 2019, the Company obtained approval from three Spanish financial institutions to a syndicated credit facility. Subsequent to December 31, 2018, the Company, through its wholly-owned subsidiary OroValle, closed the facility for a total amount of €6 million. The facility term (four years) is aligned with Orovalle's operational strategy. This aught to help with the 4 year payoff
Concurrent with the closing, Orvana repaid in full the Samsung C&T Prepayment Facility, originally entered into in August 2016.
Juan Gavidia, CEO of Orvana Minerals stated: "I am very satisfied that both operations have reached a level of operational outcomes that achieves quarterly targets, while keeping safety and environmental sustainability first. Operational stability is now allowing us to focus on building shareholder value through unit costs reduction and life of mine extensions."
Selected Operational and Financial Information
Q1 2019
Q4 2018
Q1 2018
FY 2018
Operating Performance
Gold
Grade (g/t)
2.54
2.72
2.57
2.61
Recovery (%)
93.7
92.3
89.8
91.7
Production (oz)
27,272
28,661
23,172
103,384
Sales (oz)
27,466
28,044
21,995
102,018
Average realized price / oz
$1,226
$1,208
$1,269
$1,273
Copper
Grade (%)
0.48
0.51
0.64
0.60
Recovery (%)
75.9
81.6
63.1
65.9
Production ('000 lbs)
1,375
1,291
2,759
8,233
Sales ('000 lbs)
1,400
1,231
2,700
8,687
Average realized price / lb
$2.81
$2.81
$2.82
$2.89
Financial Performance (in 000's, except per share amounts)
Revenue
$36,318
$36,298
$34,170
$145,836
Mining costs
$30,595
$30,632
$28,060
$120,946
Gross margin
$865
$3,019
$458
$3,156
Net loss
($1,060)
($1,231)
($3,379)
($11,097)
Net loss per share (basic/diluted)
($0.01)
($0.01)
($0.02)
($0.08)
EBITDA (1)
$4,449
$1,165
$4,182
$13,750
Operating cash flows before non-cash working capital changes
$4,169
$3,049
$2,086
$11,864
Operating cash flows
$3,366
$1,129
$2,147
$1,800
Ending cash and cash equivalents
$8,325
$11,634
$20,617
$11,634
Capital expenditures (2)
$1,763
$3,051
$6,207
$20,338
Cash operating costs (by-product) ($/oz) gold (1)
$1,025
$1,003
$999
$1,021
All-in sustaining costs (by-product) ($/oz) gold (1)(2)
$1,161
$1,187
$1,253
$1,259
(1)
Earnings before interest, taxes, depreciation and amortization ("EBITDA"), cash operating costs and all-in sustaining costs are non-IFRS performance measures.
(2)
Each reported period excludes capital expenditures incurred in the period which will be paid in subsequent periods, and includes capital expenditures incurred in prior periods and paid for in the applicable reporting period. The calculation of AISC includes capex incurred (paid and unpaid) during the period.
About Orvana Minerals Orvana is a multi-mine gold-copper-silver company. Orvana's operating assets consist of the producing El Valle and Carlés gold-copper-silver mines in northern Spain and the producing Don Mario gold-silver operations in Bolivia. Additional information is available at Orvana's website (www.orvana.com).
Cautionary Statements - Forward-Looking Information
Certain statements in this information constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects", "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might", "will" or "are projected to" be taken or achieved) are not statements of historical fact, but are forward-looking statements.
The forward-looking statements herein relate to, among other things, Orvana's ability to achieve improvement in free cash flow; the potential to extend the mine life of El Valle and Don Mario beyond their current life-of-mine estimates including specifically, but not limited to in the case of Don Mario, the mining of the Cerro Felix deposit, the processing of the mineral stockpiles (including the implementation of the SART circuit) and the reprocessing of the tailings material; Orvana's ability to optimize its assets to deliver shareholder value; the Company's ability to optimize productivity at Don Mario and El Valle; estimates of future production, operating costs and capital expenditures; mineral resource and reserve estimates; statements and information regarding future feasibility studies and their results; future transactions; future metal prices; the ability to achieve additional growth and geographic diversification; future financial performance, including the ability to increase cash flow and profits; future financing requirements; and mine development plans.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of the Company contained or incorporated by reference in this information, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in Orvana's most recently filed Management's Discussion & Analysis and Annual Information Form in respect of the Company's most recently completed fiscal year (the "Company Disclosures") or as otherwise expressly incorporated herein by reference as well as: there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at El Valle and Don Mario being consistent with the Company's current expectations; political developments in any jurisdiction in which the Company operates being consistent with its current expectations; certain price assumptions for gold, copper and silver; prices for key supplies being approximately consistent with current levels; production and cost of sales forecasts meeting expectations; the accuracy of the Company's current mineral reserve and mineral resource estimates; and labour and materials costs increasing on a basis consistent with Orvana's current expectations.
A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include fluctuations in the price of gold, silver and copper; the need to recalculate estimates of resources based on actual production experience; the failure to achieve production estimates; variations in the grade of ore mined; variations in the cost of operations; the availability of qualified personnel; the Company's ability to obtain and maintain all necessary regulatory approvals and licenses; the Company's ability to use cyanide in its mining operations; risks generally associated with mineral exploration and development, including the Company's ability to continue to operate the El Valle and/or Don Mario and/or ability to resume long-term operations at the Carlés Mine; the Company's ability to successfully implement the SART circuit to process the current oxides stockpiles at Don Mario; the Company's ability to acquire and develop mineral properties and to successfully integrate such acquisitions; the Company's ability to execute on its strategy; the Company's ability to obtain financing when required on terms that are acceptable to the Company; challenges to the Company's interests in its property and mineral rights; current, pending and proposed legislative or regulatory developments or changes in political, social or economic conditions in the countries in which the Company operates; general economic conditions worldwide; and the risks identified in the Company's disclosures. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Disclosures for a description of additional risk factors.
Any forward-looking statements made in this information with respect to the anticipated development and exploration of the Company's mineral projects are intended to provide an overview of management's expectations with respect to certain future activities of the Company and may not be appropriate for other purposes.
Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements.
The forward-looking statements made in this information are intended to provide an overview of management's expectations with respect to certain future operating activities of the Company and may not be appropriate for other purposes.
Cision View original content:http://www.prnewswire.com/news-releases/orvana-reports-q1-2019-financial-results-consistent-performance-in-line-with-guidance-efforts-to-improve-unit-costs-underway-300794607.html
Dr Air https://cambridgehouse.com/vancouver-resource-investment-conference/exhibitor/minera-alamos-inc
Minera Alamos Darren Koningen or Doug Ramshaw.
For Castle Gold, Darrin was brought in to fix and commission the El Castillo mine currently owned and run by Argonaut after the purchase. The sale of Castillo to AR made investors a mint. Also Chester Miller is involved as well. He knows what hes doing. Great team. Their well supported by Osisko and ready for break ground. Their planning on producing about 150,000 os in a couple years. I think they can do it.
DNI Interview Out Couple things we missed.
DNI gets a carried interest until Investco carries the project to full feasibility study. That a lot of work and cash outlay. If Investco takes it that far, this would mean the project has a good chance at producing something and DNI could opt to be part of that or take the 2% royalty. 2nd their is the 1st nations interested in one of the zones. This would be purchased with cash.
In the mean time DNI gets some cash up front and can produce graphite.
Nsomniyak Thank You. Just getting back to the computer and was going to answer Trader with the $ 1Million spending info.
The asset was written off. Far to much CAPEX and lower grades previously. DNI doesnt have the resources or man power to go it alone. If DNI chose to push vanadium in lieu of graphite I would probably bail because of the risk and long wait. Im still convinced DNI has one of the best graphite properties on the planet, graphite is and will be in high demand for at least several years, its an easy, economically feasible project that will go together quick and cheap to just make cash. That scenario is going to change the Market cap/price quickest.
This Bucton deal is just a vehicle to help get the to graphite producer. If it turns into something, it should be large. DNI has an option to participate in the future or at least a future royalty. Thinking about that, this deposit is huge and 2% off the top would be a large asset for DNI.
Now if it Bucton were worth a whole lot more, than someone would have offered a whole lot more esp with battery metals in the light. Or maybe it Is worth more, but the cash is worth more now to DNI than later?
What DNI needs now is some confidence from the market and a little promotion. With the right people promoting and a couple more steps forward from DNI, they should be back in a good spot.
Checkmate28
DNI Cashing its Bucton lotto ticket. Posted and copied from Stockhouse.
I've been waiting for this day and it couldn't come at a better time. This news is no fluff. Going to get some traction when its digested and tested. Plus a little cash for DNI
DNI has had this Bucton asset on the shelf since current CEO Dan Weir and team took control. The PEA was developed a predecessor team with positive IRR in 2013 The deposit is a huge bulk poly metallic open pit mining project with many Rare Earths. In 2013 when they developed the resource, falling commodities caused the market to shun the high CAPEX needed to move anything. I always knew that at some point something in that asset would go up in price and become a hot ticket for somebody..
That time is now. Many investors have been trading their expensive paper in Marijuana companies for cheap battery metals paper. Vanadium is especially hot right now.
If you look into the DNI Vanadium resource and PEA study, then compare this to the Prophecy Development Group PCY You'll see they have a black shale deposit as well with PEA study completed. There are sensitivity charts where you can see the Financial numbers were worked with much lower (50% less) Vanadium pricing and still show a 50% IRR. The sensitivities also show numbers for the Buctons lower bulk deposit grade. With the size of the Bucton deposit, If it were me, with the higher V205 pricing, I would raise the cutoff grade, thereby raising the grade to the pit and still have a large enough deposit to make sence. Since Vanadium has gone up 500%, plus the Cobalt and Lithium increases, DNI's Bucton deposit is now worth a lot of money to DNI esp at a time when they need cash.
Early in 2018 China ruled that all Chinese steel producers had to double the Vanadium added to their steels. This plus the coming increase in VRB Vanadium Redox Batteries are responsible for the increase in pricing.
This Press Release is going to get some traction when it gets fully digested.
One thing to note is DNI is not planning to produce anything other than Graphite. Current mgt has no obligation to spend time or $ here. They have one of the best low cost graphite deposits on the planet, almost have their green light licence to mine and could finance/develop and produce graphite as early as June 2019 since they have a current offtake agreement with Korean Graphite requiring this.
Vanadium or any other non graphite deposit they have, are going to be JVd. If anything becomes of the asset, DNI can decide to participate or take the Royalty and move on. This asset is developed enough that I believe there will be some that argue DNI should follow a new path to produce Vanadium or Cobalt. Also really good to hear about Cobalt and Vanadium assets in a safe jurisdiction. I believe a coming increased valuation and interest is going to help DNI to cheaply and profitably develop its Vohitsara and Marafody graphite deposits.
Imagine if the planets align in the next 6 mths with DNI getting their licence to produce graphite within short weeks, then raises a few million to purchase their 6000tpy plant from China, has it delivered in 90 days.
It should soon be clear why DNI decided to settle with CGM and move forward with the business plan.
Ill say this again. This press release is going to get some traction when the market figures out, what it means and that the Bucton Deposit has some value.
Checkmate28 Onwards and upwards JMHO
DNI Metals - Signs LOI to further develop its Vanadium / Polymetallic Alberta Black Shales deposit
ACCESSWIRE ACCESSWIRE•December 18, 2018
TORONTO, ONTARIO / ACCESSWIRE / December 18, 2018 / DNI Metals Inc. (DNI: CSE; DNMKF: OTC) ("DNI" or the "Company")
DNI's focus is Graphite in Madagascar, but due to the increase in certain battery metals pricing including the value of Vanadium, V2O5, from $5.89*per pound, in 2014, to over U$27.50 the increase of Cobalt, Co, from U$14.38* per pound, in 2013, to over U$25.06, the increase in Lithium, Li2CO3, from U$ 2.82* per pound to over U$30.00, DNI Metals Inc, is pleased to announce that a number of parties have shown renewed interest in its Black Shales Polymetallic deposit in Alberta.
Note: All the mineral prices have changed, the $Can/US exchange rate has changed, and input costs may have changed .*Prices as well used in DNI's resource report dated August 27, 2013.
Dan Weir, CEO, commented, "I want to emphasize that DNI is focused on developing its Graphite deposits in Madagascar. The previous management team and board of DNI did an amazing job, developing the Alberta Black Shales deposits. Over $6.7 million was spent on developing the deposits. The new team and I were treating the Black shales as a non-core asset. It is great to see the renewed interest in the project, and the worldwide demand for Vanadium."
Highlights of DNI's Vanadium and Polymetallic Resource in Alberta.
Several studies on the resources and economic significance of the deposits have been completed and a summary of selected results is presented below. Further details can be found on SEDAR”
Vanadium - Buckton South- Inferred Resource - Lower Portion - Second White Speckled Shale Formation
Vanadium - Buckton – Inferred Resource - Lower Portion - in Second White Speckled Shale Formation
Six Mineralized zones
DNI's Polymetallic Deposits – Battery and Electric car Metals
Letter of Intent
DNI has signed a Letter of Intent ("LOI") granting a private company ("Privateco") an option to earn up to a 51% interest in DNI's Alberta Black Shales Deposit. The LOI is generally non- binding, except for matters related to, among others, exclusive dealing and confidentiality.
DNI will grant to Privateco the option to earn an initial 51% interest in the Black Shales Property as follows:
upon execution of the LOI, Privateco is paying ONE HUNDRED THOUSAND dollars (Cdn$100,000) to DNI;
on or before the date which is the earlier of 6 months from the date of the Definitive Agreement or 15 days after the date that Privateco completes an RTO/IPO transaction, Privateco would pay an additional ONE HUNDRED FIFTY THOUSAND dollars (Cdn$150,000) to DNI; and
by incurring exploration and development expenditures on the Property of at least ONE MILLION dollars (Cdn$1,000,000) on or before March 31, 2021.
Privateco is controlled by Jim Atkinson in trust and without personal liability for a corporation to be incorporated. This is an arm's length transaction.
Dan Weir, CEO, commented, "Completing a deal with Privateco, will allow further development of its Vanadium / polymetallic assets, without sacrificing its Graphite Assets. We look forward to working with Privateco' s professional team."
DNI has also received interest from a First Nation group to purchase one claim of its eight claims of the Alberta properties and make the area into a provincial park. This could possibly include the area where DNI has its indicated resources, the Buckton zone.
Note: DNI is aware of six mineralization zones, 3 that have been drilled, and that the 3 stretch over 30 kms apart. The 6 form an even bigger area.
Black Shales – Vanadium
DNI Metals owns a Polymetallic black shales deposit in Alberta.
Mineral resources are hosted in two near-surface stacked black shale horizons which are mineralized with recoverable Mo-Ni-U-V-Zn-Co-Cu-Li-REEs-Y-Th-Sc and are partly exposed on surface. Six mineralized systems, or zones, have been identified on DNI's Property in northeast Alberta.
Two zones, the Buckton and the Buckton South zones have inferred resources and the Buckton has in addition indicated resources.
Asphalt Mineralized Zone. Three holes were drilled over the Asphalt Mineralized Zone, in 2011. It is located approximately 30 kilometres to the south of the Buckton Mineralized Zone.
Buckton South - March 1, 2013 Technical Report
The Maiden Resource Estimate for the Buckton South Zone, SBH Property Northeast Alberta prepared by APEX Geoscience Ltd. classified an inferred resource consisting of 548 million short tons (497 million metric tonnes) of mineralized black shale extending over 3.3 square kilometres beneath less than 75m of overburden cover. This resource is hosted in the Labiche Formation and underlying Second White Speckled Shale Formation, which are two flat-lying Formations that are stacked to comprise a continuous thick zone of mineralized shale. The inferred resource is mineralized with recoverable Molybdenum (Mo), Nickel (Ni), Uranium (U), Vanadium (V), Zinc (Zn), Copper (Cu), Cobalt (Co), Lithium (Li), Scandium (Sc), Thorium (Th) and Rare Earth Elements Lanthanum (La), Cerium (Ce), Praseodymium (Pr), Neodymium (Nd), Samarium (Sm), Europium (Eu), Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy) and Yttrium (Y). The Resource Study estimates that the maiden inferred resource is overlain by 122 million short tons (110 million metric tonnes) of glacial till overburden cover.
Buckton - September 9, 2013 Technical Report
The Updated and Expanded Resource Estimate for the Buckton Zone SBH Property Northeast Alberta, prepared by APEX Geoscience Ltd. expanded the inferred resource at the Buckton Zone from 3.5 billion short tons to 4.9 billion short tons, in addition to upgrading a portion of it to the indicated resource class by delineating a 300 million short ton indicated mineral resource. The inferred and indicated resources together extend over 21.9 square kilometres (approximately a 3kmx8km area), 20.4 square kilometres of which represents the aerial extent of the inferred resource.
Asphalt Mineralized Zone – Exploration Target
Three holes were drilled over the Asphalt Mineralized Zone*, located approximately 30 kilometres to the south of the Buckton Mineralized Zone*. A number of additional planned drill holes were deferred, including holes intended to upgrade a portion of the Asphalt Mineralized Zone* (previously named the Asphalt Potential Mineral Deposit*) into an inferred resource, and holes intended to verify projected extensions of the Zone* which is open in three directions.
As outlined in the SBH Technical Report, the Asphalt Potential Mineral Deposit* holds potential for hosting 109-132 million short tons of polymetallic mineralization extending over 4.5 square kilometers and is open in three directions. The Asphalt Potential Mineral Deposit* was recently renamed as the Asphalt Mineralized Zone* to harmonize nomenclature with Jun30/2011 amendments to NI-43-101. Although based on drilling and nearby outcrop exposures, the Asphalt Mineralized Zone*, as better outlined in the SBH Technical Report, is a target for further ongoing exploration, it is conceptual in nature as there has been insufficient drilling conducted over the Zone* to define a mineral resource, and it is uncertain whether further drilling will define a mineral resource over the Zone*.
DNI’s current drilling reinforces geological extrapolations which suggest good continuity of mineralization within the Asphalt Mineralized Zone*.
Details of the drilling completed over the Asphalt Mineralized Zone* (holes 11AS01-11AS03) are tabulated below, showing analytical results, as well as comparative grades from adjacent historic holes 7AS01 and 7AS02.
Hole
Depth
Zone Width** (m)
Weighted Average Grade (ppm) ***
Specific
#
(m)
From-To
Width
Mo
Ni
U
V
Zn
Cu
Co
Ag
Li
Gravity
11AS01
51.0
26.8-37.9
11.1
116
203
47
786
352
88
30
1.0
75
2.38
11AS02
106.5
95.5-106.5
11.0
65
137
30
682
281
89
23
0.9
85
2.48
11AS03
32.5
Hole Lost in overburden in bad ground @ 32.5m depth
7AS01
76.3
7.1-18.5
11.4
73
144
47
690
376
89
20
0.3
na
na
historic
7AS02
89.8
21.6-33.2
11.4
63
122
31
664
282
89
20
0.3
na
na
historic
Hole
Depth
Zone Width** (m)
Weighted Average Grade (lb/st) ***
#
(m)
From-To
Width
Mo
Ni
U
V
Zn
Cu
Co
Li
[MoO3]
[U3O8]
[V2O5]
11AS01
51.0
26.8-37.9
11.1
0.23
0.41
0.09
1.57
0.70
0.18
0.06
0.15
[0.35]
[0.11]
[2.80]
11AS02
106.5
95.5-106.5
11.0
0.13
0.27
0.06
1.36
0.56
0.18
0.05
0.17
[0.20]
[0.07]
[2.43]
11AS03
32.5
Hole Lost in overburden in bad ground @ 32.5m depth
7AS01
76.3
7.1-18.5
11.4
0.15
0.29
0.09
1.38
0.75
0.18
0.04
na
historic
[0.22]
[0.11]
[2.46]
7AS02
89.8
21.6-33.2
11.4
0.13
0.24
0.06
1.33
0.56
0.18
0.04
na
historic
[0.19]
[0.07]
[2.37]
Note: See notes attached to information tabulated above for the Buckton Mineralized Zone*.
The drilling over the Asphalt Mineralized Zone* serves to confirm historic drilling results. The results reiterate uniformity of grades between the Asphalt and Buckton Mineralized Zones* which are located some 30km apart, and continuity of bulk average grades over distances ranging 300m-760m between holes.
In addition, the recent drill results indicate that tonnages previously estimated for the Asphalt Mineralized Zone* in the SBH Technical Report, relying on historic information, are understated. While an estimated specific gravity of 2.1, per historic work records, was relied upon by the SBH Technical Report to estimate potential tonnages which might be hosted in the Asphalt Mineralized Zone*, specific gravity of the Speckled Shale as measured from the above drill core samples averages approximately 2.4 and, accordingly, revises potential tonnages estimated for the Asphalt Mineralized Zone* from 109-132 million short tons of polymetallic mineralization to 125-151 million short tons. The above specific gravity figures are consistent with results from surface sampling completed by DNI during the past two years.
NI 43-101 Disclosure
The information in this press release was taken from previous press releases and technical reports filed on Sedar between the years 2010-2014.
In 2013, the technical information had been prepared in accordance with Canadian regulatory requirements by, or under the supervision of, the following independent Qualified Persons: Mr. Eugene Puritch P.Eng. (per P&E Mining Consultants Inc.), Mr. Michael Dufresne P.Geol. (per APEX Geoscience Ltd.) and Mr. Bruce Cron P.Eng. (per Cron Metallurgical Ltd.) DNI's previous Qualified Person in respect of its Alberta polymetallic black shale project is Mr. Shahé F.Sabag P.Geo., former President and CEO of DNI.
James Atkinson P.Geo, and Qualified person, has reviewed and approved the information contained in this press release. The reports prepared by the previous consultants were completed by competent, Qualified Persons and the present QP believes the information to be accurate.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource reported herein will be converted into a mineral reserve. An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The metal recoveries reported represent preliminary mineral recovery testing results collated from the collective bench scale laboratory testwork completed by DNI to date and may not reflect actual process recoverability that might be achieved in a mineral production operation, all of which is the subject of ongoing studies.
DNI – CSE
DMNKF - OTC
Issued: 122,098,403
For further information, contact:
DNI Metals Inc. – Dan Weir, CEO 416-595-1195
DanWeir@dnimetals.com
Also visit www.dnimetals.com
Forward-looking Statements
DNI Metals - Signs LOI to further develop its Vanadium / Polymetallic Alberta Black Shales deposit
ACCESSWIRE ACCESSWIRE•December 18, 2018
TORONTO, ONTARIO / ACCESSWIRE / December 18, 2018 / DNI Metals Inc. (DNI: CSE; DNMKF: OTC) ("DNI" or the "Company")
DNI's focus is Graphite in Madagascar, but due to the increase in certain battery metals pricing including the value of Vanadium, V2O5, from $5.89*per pound, in 2014, to over U$27.50 the increase of Cobalt, Co, from U$14.38* per pound, in 2013, to over U$25.06, the increase in Lithium, Li2CO3, from U$ 2.82* per pound to over U$30.00, DNI Metals Inc, is pleased to announce that a number of parties have shown renewed interest in its Black Shales Polymetallic deposit in Alberta.
Note: All the mineral prices have changed, the $Can/US exchange rate has changed, and input costs may have changed .*Prices as well used in DNI's resource report dated August 27, 2013.
Dan Weir, CEO, commented, "I want to emphasize that DNI is focused on developing its Graphite deposits in Madagascar. The previous management team and board of DNI did an amazing job, developing the Alberta Black Shales deposits. Over $6.7 million was spent on developing the deposits. The new team and I were treating the Black shales as a non-core asset. It is great to see the renewed interest in the project, and the worldwide demand for Vanadium."
Highlights of DNI's Vanadium and Polymetallic Resource in Alberta.
Several studies on the resources and economic significance of the deposits have been completed and a summary of selected results is presented below. Further details can be found on SEDAR”
Vanadium - Buckton South- Inferred Resource - Lower Portion - Second White Speckled Shale Formation
Vanadium - Buckton – Inferred Resource - Lower Portion - in Second White Speckled Shale Formation
Six Mineralized zones
DNI's Polymetallic Deposits – Battery and Electric car Metals
Letter of Intent
DNI has signed a Letter of Intent ("LOI") granting a private company ("Privateco") an option to earn up to a 51% interest in DNI's Alberta Black Shales Deposit. The LOI is generally non- binding, except for matters related to, among others, exclusive dealing and confidentiality.
DNI will grant to Privateco the option to earn an initial 51% interest in the Black Shales Property as follows:
upon execution of the LOI, Privateco is paying ONE HUNDRED THOUSAND dollars (Cdn$100,000) to DNI;
on or before the date which is the earlier of 6 months from the date of the Definitive Agreement or 15 days after the date that Privateco completes an RTO/IPO transaction, Privateco would pay an additional ONE HUNDRED FIFTY THOUSAND dollars (Cdn$150,000) to DNI; and
by incurring exploration and development expenditures on the Property of at least ONE MILLION dollars (Cdn$1,000,000) on or before March 31, 2021.
Privateco is controlled by Jim Atkinson in trust and without personal liability for a corporation to be incorporated. This is an arm's length transaction.
Dan Weir, CEO, commented, "Completing a deal with Privateco, will allow further development of its Vanadium / polymetallic assets, without sacrificing its Graphite Assets. We look forward to working with Privateco' s professional team."
DNI has also received interest from a First Nation group to purchase one claim of its eight claims of the Alberta properties and make the area into a provincial park. This could possibly include the area where DNI has its indicated resources, the Buckton zone.
Note: DNI is aware of six mineralization zones, 3 that have been drilled, and that the 3 stretch over 30 kms apart. The 6 form an even bigger area.
Black Shales – Vanadium
DNI Metals owns a Polymetallic black shales deposit in Alberta.
Mineral resources are hosted in two near-surface stacked black shale horizons which are mineralized with recoverable Mo-Ni-U-V-Zn-Co-Cu-Li-REEs-Y-Th-Sc and are partly exposed on surface. Six mineralized systems, or zones, have been identified on DNI's Property in northeast Alberta.
Two zones, the Buckton and the Buckton South zones have inferred resources and the Buckton has in addition indicated resources.
Asphalt Mineralized Zone. Three holes were drilled over the Asphalt Mineralized Zone, in 2011. It is located approximately 30 kilometres to the south of the Buckton Mineralized Zone.
Buckton South - March 1, 2013 Technical Report
The Maiden Resource Estimate for the Buckton South Zone, SBH Property Northeast Alberta prepared by APEX Geoscience Ltd. classified an inferred resource consisting of 548 million short tons (497 million metric tonnes) of mineralized black shale extending over 3.3 square kilometres beneath less than 75m of overburden cover. This resource is hosted in the Labiche Formation and underlying Second White Speckled Shale Formation, which are two flat-lying Formations that are stacked to comprise a continuous thick zone of mineralized shale. The inferred resource is mineralized with recoverable Molybdenum (Mo), Nickel (Ni), Uranium (U), Vanadium (V), Zinc (Zn), Copper (Cu), Cobalt (Co), Lithium (Li), Scandium (Sc), Thorium (Th) and Rare Earth Elements Lanthanum (La), Cerium (Ce), Praseodymium (Pr), Neodymium (Nd), Samarium (Sm), Europium (Eu), Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy) and Yttrium (Y). The Resource Study estimates that the maiden inferred resource is overlain by 122 million short tons (110 million metric tonnes) of glacial till overburden cover.
Buckton - September 9, 2013 Technical Report
The Updated and Expanded Resource Estimate for the Buckton Zone SBH Property Northeast Alberta, prepared by APEX Geoscience Ltd. expanded the inferred resource at the Buckton Zone from 3.5 billion short tons to 4.9 billion short tons, in addition to upgrading a portion of it to the indicated resource class by delineating a 300 million short ton indicated mineral resource. The inferred and indicated resources together extend over 21.9 square kilometres (approximately a 3kmx8km area), 20.4 square kilometres of which represents the aerial extent of the inferred resource.
Asphalt Mineralized Zone – Exploration Target
Three holes were drilled over the Asphalt Mineralized Zone*, located approximately 30 kilometres to the south of the Buckton Mineralized Zone*. A number of additional planned drill holes were deferred, including holes intended to upgrade a portion of the Asphalt Mineralized Zone* (previously named the Asphalt Potential Mineral Deposit*) into an inferred resource, and holes intended to verify projected extensions of the Zone* which is open in three directions.
As outlined in the SBH Technical Report, the Asphalt Potential Mineral Deposit* holds potential for hosting 109-132 million short tons of polymetallic mineralization extending over 4.5 square kilometers and is open in three directions. The Asphalt Potential Mineral Deposit* was recently renamed as the Asphalt Mineralized Zone* to harmonize nomenclature with Jun30/2011 amendments to NI-43-101. Although based on drilling and nearby outcrop exposures, the Asphalt Mineralized Zone*, as better outlined in the SBH Technical Report, is a target for further ongoing exploration, it is conceptual in nature as there has been insufficient drilling conducted over the Zone* to define a mineral resource, and it is uncertain whether further drilling will define a mineral resource over the Zone*.
DNI’s current drilling reinforces geological extrapolations which suggest good continuity of mineralization within the Asphalt Mineralized Zone*.
Details of the drilling completed over the Asphalt Mineralized Zone* (holes 11AS01-11AS03) are tabulated below, showing analytical results, as well as comparative grades from adjacent historic holes 7AS01 and 7AS02.
Hole
Depth
Zone Width** (m)
Weighted Average Grade (ppm) ***
Specific
#
(m)
From-To
Width
Mo
Ni
U
V
Zn
Cu
Co
Ag
Li
Gravity
11AS01
51.0
26.8-37.9
11.1
116
203
47
786
352
88
30
1.0
75
2.38
11AS02
106.5
95.5-106.5
11.0
65
137
30
682
281
89
23
0.9
85
2.48
11AS03
32.5
Hole Lost in overburden in bad ground @ 32.5m depth
7AS01
76.3
7.1-18.5
11.4
73
144
47
690
376
89
20
0.3
na
na
historic
7AS02
89.8
21.6-33.2
11.4
63
122
31
664
282
89
20
0.3
na
na
historic
Hole
Depth
Zone Width** (m)
Weighted Average Grade (lb/st) ***
#
(m)
From-To
Width
Mo
Ni
U
V
Zn
Cu
Co
Li
[MoO3]
[U3O8]
[V2O5]
11AS01
51.0
26.8-37.9
11.1
0.23
0.41
0.09
1.57
0.70
0.18
0.06
0.15
[0.35]
[0.11]
[2.80]
11AS02
106.5
95.5-106.5
11.0
0.13
0.27
0.06
1.36
0.56
0.18
0.05
0.17
[0.20]
[0.07]
[2.43]
11AS03
32.5
Hole Lost in overburden in bad ground @ 32.5m depth
7AS01
76.3
7.1-18.5
11.4
0.15
0.29
0.09
1.38
0.75
0.18
0.04
na
historic
[0.22]
[0.11]
[2.46]
7AS02
89.8
21.6-33.2
11.4
0.13
0.24
0.06
1.33
0.56
0.18
0.04
na
historic
[0.19]
[0.07]
[2.37]
Note: See notes attached to information tabulated above for the Buckton Mineralized Zone*.
The drilling over the Asphalt Mineralized Zone* serves to confirm historic drilling results. The results reiterate uniformity of grades between the Asphalt and Buckton Mineralized Zones* which are located some 30km apart, and continuity of bulk average grades over distances ranging 300m-760m between holes.
In addition, the recent drill results indicate that tonnages previously estimated for the Asphalt Mineralized Zone* in the SBH Technical Report, relying on historic information, are understated. While an estimated specific gravity of 2.1, per historic work records, was relied upon by the SBH Technical Report to estimate potential tonnages which might be hosted in the Asphalt Mineralized Zone*, specific gravity of the Speckled Shale as measured from the above drill core samples averages approximately 2.4 and, accordingly, revises potential tonnages estimated for the Asphalt Mineralized Zone* from 109-132 million short tons of polymetallic mineralization to 125-151 million short tons. The above specific gravity figures are consistent with results from surface sampling completed by DNI during the past two years.
NI 43-101 Disclosure
The information in this press release was taken from previous press releases and technical reports filed on Sedar between the years 2010-2014.
In 2013, the technical information had been prepared in accordance with Canadian regulatory requirements by, or under the supervision of, the following independent Qualified Persons: Mr. Eugene Puritch P.Eng. (per P&E Mining Consultants Inc.), Mr. Michael Dufresne P.Geol. (per APEX Geoscience Ltd.) and Mr. Bruce Cron P.Eng. (per Cron Metallurgical Ltd.) DNI's previous Qualified Person in respect of its Alberta polymetallic black shale project is Mr. Shahé F.Sabag P.Geo., former President and CEO of DNI.
James Atkinson P.Geo, and Qualified person, has reviewed and approved the information contained in this press release. The reports prepared by the previous consultants were completed by competent, Qualified Persons and the present QP believes the information to be accurate.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource reported herein will be converted into a mineral reserve. An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The metal recoveries reported represent preliminary mineral recovery testing results collated from the collective bench scale laboratory testwork completed by DNI to date and may not reflect actual process recoverability that might be achieved in a mineral production operation, all of which is the subject of ongoing studies.
DNI – CSE
DMNKF - OTC
Issued: 122,098,403
For further information, contact:
DNI Metals Inc. – Dan Weir, CEO 416-595-1195
DanWeir@dnimetals.com
Also visit www.dnimetals.com
Forward-looking Statements
https://finance.yahoo.com/news/dni-metals-signs-loi-further-113800297.html
DNI Metals - Signs LOI to further develop its Vanadium / Polymetallic Alberta Black Shales deposit
ACCESSWIRE ACCESSWIRE•December 18, 2018
TORONTO, ONTARIO / ACCESSWIRE / December 18, 2018 / DNI Metals Inc. (DNI: CSE; DNMKF: OTC) ("DNI" or the "Company")
DNI's focus is Graphite in Madagascar, but due to the increase in certain battery metals pricing including the value of Vanadium, V2O5, from $5.89*per pound, in 2014, to over U$27.50 the increase of Cobalt, Co, from U$14.38* per pound, in 2013, to over U$25.06, the increase in Lithium, Li2CO3, from U$ 2.82* per pound to over U$30.00, DNI Metals Inc, is pleased to announce that a number of parties have shown renewed interest in its Black Shales Polymetallic deposit in Alberta.
Note: All the mineral prices have changed, the $Can/US exchange rate has changed, and input costs may have changed .*Prices as well used in DNI's resource report dated August 27, 2013.
Dan Weir, CEO, commented, "I want to emphasize that DNI is focused on developing its Graphite deposits in Madagascar. The previous management team and board of DNI did an amazing job, developing the Alberta Black Shales deposits. Over $6.7 million was spent on developing the deposits. The new team and I were treating the Black shales as a non-core asset. It is great to see the renewed interest in the project, and the worldwide demand for Vanadium."
Highlights of DNI's Vanadium and Polymetallic Resource in Alberta.
Several studies on the resources and economic significance of the deposits have been completed and a summary of selected results is presented below. Further details can be found on SEDAR”
Vanadium - Buckton South- Inferred Resource - Lower Portion - Second White Speckled Shale Formation
Vanadium - Buckton – Inferred Resource - Lower Portion - in Second White Speckled Shale Formation
Six Mineralized zones
DNI's Polymetallic Deposits – Battery and Electric car Metals
Letter of Intent
DNI has signed a Letter of Intent ("LOI") granting a private company ("Privateco") an option to earn up to a 51% interest in DNI's Alberta Black Shales Deposit. The LOI is generally non- binding, except for matters related to, among others, exclusive dealing and confidentiality.
DNI will grant to Privateco the option to earn an initial 51% interest in the Black Shales Property as follows:
upon execution of the LOI, Privateco is paying ONE HUNDRED THOUSAND dollars (Cdn$100,000) to DNI;
on or before the date which is the earlier of 6 months from the date of the Definitive Agreement or 15 days after the date that Privateco completes an RTO/IPO transaction, Privateco would pay an additional ONE HUNDRED FIFTY THOUSAND dollars (Cdn$150,000) to DNI; and
by incurring exploration and development expenditures on the Property of at least ONE MILLION dollars (Cdn$1,000,000) on or before March 31, 2021.
Privateco is controlled by Jim Atkinson in trust and without personal liability for a corporation to be incorporated. This is an arm's length transaction.
Dan Weir, CEO, commented, "Completing a deal with Privateco, will allow further development of its Vanadium / polymetallic assets, without sacrificing its Graphite Assets. We look forward to working with Privateco' s professional team."
DNI has also received interest from a First Nation group to purchase one claim of its eight claims of the Alberta properties and make the area into a provincial park. This could possibly include the area where DNI has its indicated resources, the Buckton zone.
Note: DNI is aware of six mineralization zones, 3 that have been drilled, and that the 3 stretch over 30 kms apart. The 6 form an even bigger area.
Black Shales – Vanadium
DNI Metals owns a Polymetallic black shales deposit in Alberta.
Mineral resources are hosted in two near-surface stacked black shale horizons which are mineralized with recoverable Mo-Ni-U-V-Zn-Co-Cu-Li-REEs-Y-Th-Sc and are partly exposed on surface. Six mineralized systems, or zones, have been identified on DNI's Property in northeast Alberta.
Two zones, the Buckton and the Buckton South zones have inferred resources and the Buckton has in addition indicated resources.
Asphalt Mineralized Zone. Three holes were drilled over the Asphalt Mineralized Zone, in 2011. It is located approximately 30 kilometres to the south of the Buckton Mineralized Zone.
Buckton South - March 1, 2013 Technical Report
The Maiden Resource Estimate for the Buckton South Zone, SBH Property Northeast Alberta prepared by APEX Geoscience Ltd. classified an inferred resource consisting of 548 million short tons (497 million metric tonnes) of mineralized black shale extending over 3.3 square kilometres beneath less than 75m of overburden cover. This resource is hosted in the Labiche Formation and underlying Second White Speckled Shale Formation, which are two flat-lying Formations that are stacked to comprise a continuous thick zone of mineralized shale. The inferred resource is mineralized with recoverable Molybdenum (Mo), Nickel (Ni), Uranium (U), Vanadium (V), Zinc (Zn), Copper (Cu), Cobalt (Co), Lithium (Li), Scandium (Sc), Thorium (Th) and Rare Earth Elements Lanthanum (La), Cerium (Ce), Praseodymium (Pr), Neodymium (Nd), Samarium (Sm), Europium (Eu), Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy) and Yttrium (Y). The Resource Study estimates that the maiden inferred resource is overlain by 122 million short tons (110 million metric tonnes) of glacial till overburden cover.
Buckton - September 9, 2013 Technical Report
The Updated and Expanded Resource Estimate for the Buckton Zone SBH Property Northeast Alberta, prepared by APEX Geoscience Ltd. expanded the inferred resource at the Buckton Zone from 3.5 billion short tons to 4.9 billion short tons, in addition to upgrading a portion of it to the indicated resource class by delineating a 300 million short ton indicated mineral resource. The inferred and indicated resources together extend over 21.9 square kilometres (approximately a 3kmx8km area), 20.4 square kilometres of which represents the aerial extent of the inferred resource.
Asphalt Mineralized Zone – Exploration Target
Three holes were drilled over the Asphalt Mineralized Zone*, located approximately 30 kilometres to the south of the Buckton Mineralized Zone*. A number of additional planned drill holes were deferred, including holes intended to upgrade a portion of the Asphalt Mineralized Zone* (previously named the Asphalt Potential Mineral Deposit*) into an inferred resource, and holes intended to verify projected extensions of the Zone* which is open in three directions.
As outlined in the SBH Technical Report, the Asphalt Potential Mineral Deposit* holds potential for hosting 109-132 million short tons of polymetallic mineralization extending over 4.5 square kilometers and is open in three directions. The Asphalt Potential Mineral Deposit* was recently renamed as the Asphalt Mineralized Zone* to harmonize nomenclature with Jun30/2011 amendments to NI-43-101. Although based on drilling and nearby outcrop exposures, the Asphalt Mineralized Zone*, as better outlined in the SBH Technical Report, is a target for further ongoing exploration, it is conceptual in nature as there has been insufficient drilling conducted over the Zone* to define a mineral resource, and it is uncertain whether further drilling will define a mineral resource over the Zone*.
DNI’s current drilling reinforces geological extrapolations which suggest good continuity of mineralization within the Asphalt Mineralized Zone*.
Details of the drilling completed over the Asphalt Mineralized Zone* (holes 11AS01-11AS03) are tabulated below, showing analytical results, as well as comparative grades from adjacent historic holes 7AS01 and 7AS02.
Hole
Depth
Zone Width** (m)
Weighted Average Grade (ppm) ***
Specific
#
(m)
From-To
Width
Mo
Ni
U
V
Zn
Cu
Co
Ag
Li
Gravity
11AS01
51.0
26.8-37.9
11.1
116
203
47
786
352
88
30
1.0
75
2.38
11AS02
106.5
95.5-106.5
11.0
65
137
30
682
281
89
23
0.9
85
2.48
11AS03
32.5
Hole Lost in overburden in bad ground @ 32.5m depth
7AS01
76.3
7.1-18.5
11.4
73
144
47
690
376
89
20
0.3
na
na
historic
7AS02
89.8
21.6-33.2
11.4
63
122
31
664
282
89
20
0.3
na
na
historic
Hole
Depth
Zone Width** (m)
Weighted Average Grade (lb/st) ***
#
(m)
From-To
Width
Mo
Ni
U
V
Zn
Cu
Co
Li
[MoO3]
[U3O8]
[V2O5]
11AS01
51.0
26.8-37.9
11.1
0.23
0.41
0.09
1.57
0.70
0.18
0.06
0.15
[0.35]
[0.11]
[2.80]
11AS02
106.5
95.5-106.5
11.0
0.13
0.27
0.06
1.36
0.56
0.18
0.05
0.17
[0.20]
[0.07]
[2.43]
11AS03
32.5
Hole Lost in overburden in bad ground @ 32.5m depth
7AS01
76.3
7.1-18.5
11.4
0.15
0.29
0.09
1.38
0.75
0.18
0.04
na
historic
[0.22]
[0.11]
[2.46]
7AS02
89.8
21.6-33.2
11.4
0.13
0.24
0.06
1.33
0.56
0.18
0.04
na
historic
[0.19]
[0.07]
[2.37]
Note: See notes attached to information tabulated above for the Buckton Mineralized Zone*.
The drilling over the Asphalt Mineralized Zone* serves to confirm historic drilling results. The results reiterate uniformity of grades between the Asphalt and Buckton Mineralized Zones* which are located some 30km apart, and continuity of bulk average grades over distances ranging 300m-760m between holes.
In addition, the recent drill results indicate that tonnages previously estimated for the Asphalt Mineralized Zone* in the SBH Technical Report, relying on historic information, are understated. While an estimated specific gravity of 2.1, per historic work records, was relied upon by the SBH Technical Report to estimate potential tonnages which might be hosted in the Asphalt Mineralized Zone*, specific gravity of the Speckled Shale as measured from the above drill core samples averages approximately 2.4 and, accordingly, revises potential tonnages estimated for the Asphalt Mineralized Zone* from 109-132 million short tons of polymetallic mineralization to 125-151 million short tons. The above specific gravity figures are consistent with results from surface sampling completed by DNI during the past two years.
NI 43-101 Disclosure
The information in this press release was taken from previous press releases and technical reports filed on Sedar between the years 2010-2014.
In 2013, the technical information had been prepared in accordance with Canadian regulatory requirements by, or under the supervision of, the following independent Qualified Persons: Mr. Eugene Puritch P.Eng. (per P&E Mining Consultants Inc.), Mr. Michael Dufresne P.Geol. (per APEX Geoscience Ltd.) and Mr. Bruce Cron P.Eng. (per Cron Metallurgical Ltd.) DNI's previous Qualified Person in respect of its Alberta polymetallic black shale project is Mr. Shahé F.Sabag P.Geo., former President and CEO of DNI.
James Atkinson P.Geo, and Qualified person, has reviewed and approved the information contained in this press release. The reports prepared by the previous consultants were completed by competent, Qualified Persons and the present QP believes the information to be accurate.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource reported herein will be converted into a mineral reserve. An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The metal recoveries reported represent preliminary mineral recovery testing results collated from the collective bench scale laboratory testwork completed by DNI to date and may not reflect actual process recoverability that might be achieved in a mineral production operation, all of which is the subject of ongoing studies.
DNI – CSE
DMNKF - OTC
Issued: 122,098,403
For further information, contact:
DNI Metals Inc. – Dan Weir, CEO 416-595-1195
DanWeir@dnimetals.com
Also visit www.dnimetals.com
Forward-looking Statements
BryanC We know from previous press release the Processing plant is already fully engineered with drawings and quotes. The CAPEX totals were filed with the current EIS as these totals were needed to compute the filings fees to the ONE.
My estimates are that they will need upwards of $2.5Mill and 6mths to get plant built shipped from China and set up.
Thats the beauty. If things go as planned and Dan can coax the final approval of the licence in the next 60 day period, DNI will be a total different company.
Just some examples of what a financing might look like
$3million dollars at .08 is 36 Million new shares
$3million dollars at .12 is 25 Million new shares
Another possibility for financing would be an off take partner who prepays for a portion the offtake and gets paid in product over time.
It seems a sure thing to me that with the Env licence in hand, DNI has the green lights. Financing the low CAPEX should not be a problem.
With the 6000tpa up and running, we should be comparable to the market cap of BASS Metals down the road from DNI. Bass just finished their 6000tpa plant this summer.
Currently Bass MC stands near $45 million but was $90 million in May
To throw a high number out there, Lets say DNIs share count goes to 150M and they can
garner a $50M market cap.
$50M/150m Shares = .33/share about a 6 Bagger from here.
This is why IMO it was worth it to get free and settle with Cougar
Checkmate28 JMHO
New Interview Proven and Probable
My Bad. My post from yesterday did not get sent therefore not deleted. I think I rushed off to work without sending. But please if you have the answers as to the Env licence
SPartex Riverrock Again I ask since you are long term posters here. Any mining of Graphite will require a mining licence from the Madagascar ONE environment department.
This licence requires the filing by the company of the EIS Environmental Impact Statement and the SR Social Responsibility.
I looked on the company website, the presentations, the press releases for both Energizer and Nextsource and could not find this info anywhere?
You have all the answers to everything else yet No one has come forth with this information. My last post on this issue was deleted. Isnt it odd that we cannot find this information?
Another question I think I read the answer somewhere. Nextsorce does have a Vanadium rosource ready to go. With the price of Vanadium up so high and the scarcity of Vanadium, why do they not move forward there?
Spartex I believe you are mistaken. I dont see anywhere where NEXT or Energizer filed the EIS and Social Responsibility.
Riverrock or anyone?? Has NEXT or Energizer filed the EIS and Social Responsibility with the Madagascar Environment department.
Since the EIS environmental Impact Statement is a costly time consuming document that is usually 300 pages or more, the filing of the document would have caused a news release for sure.
Nice press release for NEXT. If they could get to fulfilling that, NEXT would be in good shape.
Can Someone help me out here? I was on the Nestsource website looking to see if they filed their EIS & CSR with the ONE (Madagascar Environmental Office). I checked the presentation, the fact sheet, the press releases but could not find this information.
NEXT Filing The Environmental Impact Statement and Social Responsibility should be a seperate PR and a big event for the company since its a requirement by the ONE to get the licence to produce. Can anyone help me to find this information. ??
Thanks in advance Checkmate28
Hamvestor Re PCY Thanks Thats crazy. Id seen all the buys August thru Sept then all the sells through October and figured I at least needed to get to the bottom of that. What was odd, was the sells were for smaller pricings then the current price range for those days.
AR.T Argonaut Gold is deep cheap right now. Quality value miner thats going to bounce. Not much room below.
LC PCY I did have a look since I like the battery metals and Vanadium has been on a tear. Saw the chart and thought I should wait for a pull back only to watch it pull up, LOL.
Whats the story on this
https://www.canadianinsider.com/node/7?menu_tickersearch=PCY+%7C+Prophecy+Development
LC DNI Metals LOL Cant put a good spin on this, but how were they supposed to handle the News? As to the details, if your a shareholder you'll read the PR all of it. If your interested in the company or graphite investments, you'll probably read the PR, all of it. Would you falt a company for putting out bad news on Friday?
Madagascar is a third world country that carries risks and one should know this up front. Surprisingly Madagascar carry a BBB rating on the World Risk report from Mining Journal 2018
http://investorshub.advfn.com/uimage/uploads/2018/10/25/TPQGGVAUVTAMWV.jpg">http://investorshub.advfn.com/uimage/uploads/2018/10/25/TPQGGVAUVTAMWV.jpg" />[/img]
Through an ongoing investigation, the Office National pour l'Environnement Madagascar, ONE, has determined and informed DNI that the many of the receipts and documents were falsified, and that the fee payments had not been paid. In fact the cahier d’charge and the environmental impact study for Marofody(2nd property) had not been filed with the ONE.
DNI was given signed official docs that led them to believe things were well. The country manager, his staff, the Madi officials, Not sure if the fraud was coming from one or all.
The CEO knowing things weren't right stepped up, went to the ONE mining office looking for answers. With the resultant information/investigation, formed and implemented a solution, then reported the information to shareholders.
While not happy, Im relieved to know the CEO is now there day to day with an office near the property and vowed to be the only one in charge of these details moving forward. Previously the CEO was in Madi for a period nearly every month.
In the larger scope of things, I think the ONE environmental office in interested in promoting business. Outside of the investigation, things should move forward. DNI with the environmental licence will have a green light to develop and provide a value proposition. Lets wait and see.
Checkmate28
Orvana ORV.T At .15 Nowhere to go but up. 125K Oz yearly AuEq production at a $20M market cap. 2 mines 2 mills. They continue to increase production, increase grades/recoveries and decrease costs. They have spent about $25M CAPEX in each of the last 2 years and are now benefiting. Orvana provides lots of leverage to the price of gold. Another $100 in the price of gold adds another $12M in yearly cash flow. They dont dilute and looks like they have plans for more expansion and dollars for exploration. The Denver gold forum link below is very good.
News out. Orvana Announces Record Year End Gold Production
COMPLETES SUCCESSFUL TWO-YEAR RAMP-UP & PROVIDES 2019 PRODUCTION GUIDANCE
TSX:ORV TORONTO, Oct. 17, 2018 /PRNewswire/ -4th quarter production results
Production Highlights
Record consolidated gold production of 103,384 oz, an increase of 14% over YE 2017 (90,292 oz) and a 57% increase over YE 2016 (65,784 oz);
Consolidated gold equivalent production of 126,017 ounces;
Record consolidated quarter gold production of 28,661 ounces, an increase of 7% compared to Q3 2018;
FY 2019 production guidance of 100,000 to 110,000 ounces of gold, aligns with successful completion of two-year ramp-up effort
Orvana will continue to drive productivity improvements and reduction of unitary costs at both sites through the continued transition of higher grade oxides at El Valle and the opening up of new areas at Don Mario.
https://web.tmxmoney.com/article.php?newsid=5689420320918189&qm_symbol=ORV
Denver gold forum presentation
https://wsw.com/webcast/xpl18/orv.to/?lobby=true&day=3
Traderfan I apologize if you or anyone bought GWA based off my continued positive updates. Its been a big disappointment thats cost us for sure plus mgt was slow with the updates. There is no sector hated more than the gold sector lately and Im sure you noticed most good name, value minors are down 40 - 75%
Dont know why you mention DNI headed to zero. DNI's going to make it and's been trading just below its 6 mths avg. Newsflow little quiet lately.
As to Gowest, they lost their initial mill deal causing a chain of problems thats set them back a year and some cash. This no doubt permanently affected the potential. Can we blame the CEO? not sure.
Im still a believer in the project for the following reasons:
The 1.2 million oz high grade Au & 120km land package still there
They have a pile of ore sitting above ground ready to be processed
The ore sorter is going to surprise
They still have financial backing,
Company Insiders most have purchased shares lately
PFS says the operation is very profitable at $1200 gold.
Neighbor Harte Gold processed their bulk sample stil trading at $220M MC.
I believe GWA has the new milling site approved and are ready to move forward. I as well as friends added many shares last week. I got the .04s Friday and still have a sizeable bid. Trader, keep belly aching over there so I can fill the rest.
My favorite pics are usually turn around plays in the penalty box. Rehabs in progress. I look for a huge gap between current price and perceived future value. I have to see a clear path and a management I believe will drive the cart.
The thing is, these type of investments dont perform well in poor markets but move hard when the markets makes a move up. Smart money coming in sees the same value I did and this brings the bid. This is proved by my many pics that beat anyone's success list I could find anywhere in 2016 and early 2017. The last 1.5 years have been terrible and I havent been confident in this environment therefore I havent suggested anyone buy anything lately for the most part. If you remember, on the positive, I picked Kirkland Lake (maybe #1 best mining performer last 2 yrs) and GORO doing nicely.
It was 2015 I chipped away, with egg on my face, picking up the biggest loser/highest value shrs knowing I was buying the bottom. Then like magic, my best barometers (Contrarian Moriarty and Avi Gilbert) came out with the bottom near calls during worst pessimism. I knew it was just a question of when. 10 bagged EXN right here and dollar cost averaged Gowest from as low as .035 to run to .28 , plus others all in little time. Im still way up on a 3 year average and I think Im set up nice for next round.
Gold Shares are cheap. Im not confident were at bottom, but Im getting ready to be confident. Not sure what the best strategy might be? cash up to buy tax loss shares to make a run into 2019 hummm
Trust me EXN GWA, ORV, GORO, KLG, AR AND DNI wont miss the party.
For the DD list, NXS MAI CGLD WGO
Bob Moriarty
http://energyandgold.com/2018/08/16/bob-moriarty-were-in-the-exact-same-spot-we-were-in-august-2008/
http://energyandgold.com/2018/07/05/bob-moriarty-tradable-bottom-in-precious-metals-liquidity-crunch-looms-in-september-october/
Avi Gilbert
The bullish sentiment in the gold market is the lowest we have seen in years if not rivaling the same levels as the lows we have seen over decades.
https://seekingalpha.com/article/4206484-sentiment-speaks-trade-wars-going-crash-market
https://seekingalpha.com/article/4203788-sentiment-speaks-even-think-buying-gold
Adam Hamilton
https://seekingalpha.com/article/4206462-gold-stock-forced-capitulation?ifp=0
OMI Orasur Mining! 5 Bagger this week on the Newmont buy in. I own it and Mentioned it a few times here as a hot value.
I bought it for the Columbia property they were getting ready to explore. Esp interesting for me, was it came permitted and with infrastructure since there is an operating granite mine on the property. Property has a hot address in Columbia near all the big projects.
Dont know where it goes from here but Newmont has agreed to spend $30 Million developing. Orasur gets some cash to further explore their Uruguay property that was a cash cow until they ran low on resources while switching zones. They know what they are doing and have green and brownfields to explore.
DrAir Were going to give you extra credit for that link. Save me some time esp on the busy days. Im seeing links on there I would have otherwise missed already.
Something I really miss is the old Stockhouse where we could sort the portfolios by market cap in numerical order and show a chart for every member of the portfolio all on the same page. One click would modify the chart length for up to 50 stocks at one time. Very useful for me. I would pay now for that info.
Also unread posts/news showed up in bolded print.
GORO Closed at $7.15 a 4 year high. Close to my 8 buck short term call!
This against the general down trend of gold and the minors in general.
Should be nothing but good news through 2019 at least, with Catalysts being larger production from Switchback and Alta Gracia while they develop Nevada solely from cash flow. All this while Larista carries the company on its shoulders.
New Power grid will hopefully be available by end of year, This will amount to an additional 2M to 6M$ annual savings.
Thats a nice lineup of Catalyst
GORO along with KLG Kirkland Lake Gold offer security and growth in my portfolio.
Have a great weekend
Checkmate28
LC Saw that this week. Was going to high 5 you earlier.
Ive had some Tinka on the Zinc play for a good while
My other Zinc Miner GORO doing well also.