Posted by AGORACOM-JC
at 4:35 PM on Tuesday, January 31st, 2017
Received approval to implement its proposed three (3) old for one (1) new share consolidation and name change to New Age Metals Inc.
Effective at the opening of the market on February 1, 2017 the common shares of Pacific North West Capital Corp. will be delisted and the post-consolidated shares of New Age Metals Inc. will begin trading on the TSX Venture Exchange under its new trading symbol “NAM”
Vancouver, British Columbia / January 31, 2017 – Pacific North West Capital Corp. (“PFN”) (TSXV: PFN OTCQB: PAWEF FSE: P7J) announces that further to news release of January 25, 2017, PFN has received approval to implement its proposed three (3) old for one (1) new share consolidation and name change to New Age Metals Inc. (the “Company”). Effective at the opening of the market on February 1, 2017 the common shares of Pacific North West Capital Corp. will be delisted and the post-consolidated shares of New AgeMetals Inc. will begin trading on the TSX Venture Exchange under its new trading symbol “NAM”.
Letters of transmittal will be sent to the registered shareholders providing instructions to surrender the share certificates evidencing their pre-consolidated common shares for replacement certificates of New Age Metals Inc. representing the number of post-consolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the pre-consolidated common shares will be deemed to represent the number of post-consolidated common shares of New Age Metals Inc. that the holder thereof is entitled to as a result of the consolidation. The Company will not be issuing fractional shares as a result of the consolidation. Instead, all fractional shares equal or greater to one-half will be rounded to the next whole share.
The Company’s website, newagemetals.com, is currently under construction and is slated for completion in the upcoming days. During this transition period, please visit pfncapital.com for more information about the Company’s projects.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
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.
Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
Posted by AGORACOM-JC
at 4:25 PM on Wednesday, January 25th, 2017
Made application to the TSX Venture Exchange to implement a name change and share consolidation to better reflect the Company’s business plan and its two mineral divisions
Vancouver, British Columbia / January 25, 2017 –Pacific North West Capital Corp. (“PFN”)(TSXV: PFN OTCQB: PAWEF FSE: P7J)announces it has made application to the TSX Venture Exchange (the “Exchange”) to implement a name change and share consolidation to better reflect the Company’s business plan and its two mineral divisions. The Company’s Board of Directors have approved a name change of the Company from Pacific North West Capital to New Age Metals Inc. In addition, due to market conditions, regulatory minimum pricing requirements for financings and other considerations, the Board of Directors have also authorized a consolidation of the Company’s issued and outstanding shares on the basis of three (3) shares of Pacific North West Capital Corp. for one (1) new share of New Age Metals Inc.
The 100,098,596 common shares currently issued and outstanding will be reduced to approximately 33,366,199 post-consolidated common shares. The Company will not be issuing fractional shares as a result of the consolidation. Instead, all fractional shares equal or greater to one-half will be rounded to the next whole share. The Company’s outstanding stock options and share purchase warrants will be adjusted accordingly upon completion of the consolidation.
Upon receipt of regulatory approval, a letter of transmittal will be sent to the registered shareholders providing instructions to surrender the share certificates evidencing their pre-consolidated common shares for replacement certificates of New Age Metals Inc. representing the number of post-consolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the pre-consolidated common shares will be deemed to represent the number of post-consolidated common shares of New Age Metals Inc. that the holder thereof is entitled to as a result of the consolidation.
The Name Change and Consolidation are subject to regulatory approval. The Company anticipates the transaction to close early February, 2017. Until such regulatory approvals have been received, the pre-consolidated shares will continue to trade on the TSX Venture Exchange under the current trading symbol “PFN”.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
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.
Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
Posted by AGORACOM-JC
at 3:35 PM on Monday, January 23rd, 2017
Closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units at a priceof $0.07 per NFT Unit for gross proceeds of $150,000
Fairmont issued a total of 1,425,000 flow-through units
VANCOUVER, BRITISH COLUMBIA–(Jan. 23, 2017) –Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce that is has closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of $150,000. Under the entire financing, Fairmont issued a total of 1,425,000 flow-through units (the “FT Units”) for gross proceeds of $114,000 and 2,142,857 NFT Units for gross proceeds of $150,000.
Each NFT Unit is comprised of one non-flow-through common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.
The NFT securities issued under the financing will be subject to resale restrictions expiring May 22, 2017. The previously closed FT securities (See release of December 30, 2016) are subject to resale restrictions expiring May 1, 2017.
No finder’s fees were paid on this financing.
The proceeds from the NFT private placement will be used for general working capital.
Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.
Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have displayed exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.
On behalf of the Board of Directors,
Michael A. Dehn
President and CEO, Fairmont Resources Inc.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE.
Michael A. Dehn
President and CEO
Fairmont Resources Inc.
647-477-2382 [email protected]
www.fairmontresources.ca
Doren Quinton
President
QIS Capital
250-377-1182 [email protected]
www.smallcaps.ca
VANCOUVER, BRITISH COLUMBIA–(Jan. 23, 2017) –Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce that is has closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of $150,000. Under the entire financing, Fairmont issued a total of 1,425,000 flow-through units (the “FT Units”) for gross proceeds of $114,000 and 2,142,857 NFT Units for gross proceeds of $150,000.
Each NFT Unit is comprised of one non-flow-through common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.
The NFT securities issued under the financing will be subject to resale restrictions expiring May 22, 2017. The previously closed FT securities (See release of December 30, 2016) are subject to resale restrictions expiring May 1, 2017.
No finder’s fees were paid on this financing.
The proceeds from the NFT private placement will be used for general working capital.
About Fairmont Resources Inc.
Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.
Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have displayed exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.
On behalf of the Board of Directors,
Michael A. Dehn
President and CEO, Fairmont Resources Inc.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE.
Michael A. Dehn
President and CEO
Fairmont Resources Inc.
647-477-2382 [email protected]
www.fairmontresources.ca
Doren Quinton
President
QIS Capital
250-377-1182 [email protected]
www.smallcaps.ca
Posted by AGORACOM-JC
at 10:30 AM on Wednesday, January 18th, 2017
Planning is underway to drill test its lithium bearing pegmatite zone discovered in the summer 2016 exploration program on ground adjacent to Nemaska Lithium’s (T-NMX) Whabouchi Deposit and the newly discovered Doris zone
Vancouver, BC / January 18, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) announces that planning is underway to drill test its lithium bearing pegmatite zone discovered in the summer 2016 exploration program on ground adjacent to Nemaska Lithium’s (T-NMX) Whabouchi Deposit and the newly discovered Doris zone.
On January 17th, 2017 Nemaska Lithium announced “With the Doris zone discovery in late fall it is prudent to consider the possible impact of its eastward continuance…” In the news release of November 28th, 2016, Nemaska Lithium stated, “the Doris zone, contains 5 interconnected dykes and has now been confirmed on 420m of lateral extension and up to a maximum depth of 440m where it joins the main dyke.” “Doris appears to run parallel to main zone which extends for 1.2km to the northeast.”
Durango’s 100% wholly owned NMX East ground adjoins Nemaska Lithium on the eastern perimeter where Nemaska Lithium’s Doris zone remains open, less than 1.5km from the proposed mining pit. Durango’s geological team confirmed a pegmatitic intrusion running parallel to Nemaska Lithium’s main zone where it tested positive for anomalous Lithium and rubidium as per the news release on September 21, 2016. A map of the zones comparative with Nemaska Lithium Inc. may be viewed on the Durango website.
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Quebec, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
Neither 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.
Posted by AGORACOM-JC
at 12:31 PM on Friday, January 6th, 2017
Pursuant to an Option Agreement dated November 10, 2016 (the “Agreement”) between the Company and LiCo Energy Metals Inc. (“LiCo”), whereby LiCo can earn an undivided 70% interest, subject to a 3% net smelter return royalty (“NSR”), in 199 placer claims located in southwest Black Rock Desert, Nevada
January 6, 2017 / Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company” (TSX-V: BFF; OTCQB: SSMLF) (Frankfurt: A2AFBV) announces that further to its news releases dated November 11, 2016 and December 15, 2016 and further to the conditional acceptance from the TSX Venture Exchange (the “Exchange”) dated January 5, 2017 pursuant to an Option Agreement dated November 10, 2016 (the “Agreement”) between the Company and LiCo Energy Metals Inc. (“LiCo”), whereby LiCo can earn an undivided 70% interest, subject to a 3% net smelter return royalty (“NSR”), in 199 placer claims located in southwest Black Rock Desert, Nevada, the transaction has now closed, subject to final acceptance of from the Exchange.
As consideration for the transaction the Company will receive from LiCo :
-US$170,000 cash;-4,500,000 shares over two years; and-US $1,250,000 in exploration commitment within three years.
Nevada Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has 100% ownership in 78 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America (under option to Lithium America who can earn a 70% interest); 100% interest in the 100 claim Teels Marsh West Project covering 2000 acres (809 hectares) in Mineral County, Nevada; 100% interest in the San Emidio Desert Project consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada; 100% interest in the 710 claim Dixie Valley Project covering about 5746 hectares (22 square miles) of playa and alluvial fan; 100% interest in the BSV Lithium Project – 160 claims, with an area of 3,200 acres/1,295 hectares, located in northern Big Smokey Valley, Nye County, Nevada; 100% interest in the Black Rock Desert Property – 199 claims (3,980 acres/ 1,610 hectares) located in southwest Black Rock Desert, Washoe County, Nevada (now optioned 70% interest to LiCo Energy Metals Inc.).
On Behalf of the Board of Directors
Rick Wilson, President & CEO
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 contents of this news release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as Exchange approval of the Option Agreement and the Financing and the Company’s ability to exercise the Option or close the Financing, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. Availability of financing, and general business conditions are all factors that could cause actual results to vary materially from forward-looking statements.
Posted by AGORACOM-JC
at 10:49 AM on Friday, January 6th, 2017
Entered into a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa, of Santiago, Chile whereby LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation ConcessionÂ
Located within Chile’s Salar de Atacama, the world’s largest and purest active source of lithium
Jan 6, 2017 Vancouver, British Columbia; – LiCo Energy Metals Inc. (“the Company” or “LiCo”) TSX-V: LIC,OTCQB: WCTXF would like to provide shareholders with an update to the announcement from Tuesday, January 3, 2017 wherein the Company entered into a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa (“Durus Copper”), of Santiago, Chile whereby LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation Concession (the “Purickuta Project”) located within Chile’s Salar de Atacama, the world’s largest and purest active source of lithium. The LOI, when superseded by a definitive option agreement, will require LiCo to make cash payments totalling USD$8.4 million, issuing 5 million shares and making work and development commitments during the term of the option agreement.
The Company’s shares were halted from trading after the announcement on January 3, 2017 as the TSX Venture Exchange (“Exchange”) deemed the transaction to be a fundamental acquisition pursuant to Exchange Policy 5.3 (“the Policy”). In accordance with the Policy, the Company has now filed the required documents and trading has resumed. The transaction is subject to Exchange approval.
The Purickuta Project exhibits many highly desirable and key acquisition attributes, including:
1) the appearance of both a low-cost resource definition opportunity and a near term production opportunity;
2) the overall project size fits well within the capability of a junior company seeking to quickly define reserves and establish production facilities;
3) the property is well situated within the Salar de Atacama, the highest-grade lithium salar in the world;
4) within the Salar de Atacama, lithium brines exist within 140 feet of surface resulting in low costs of exploration and extraction;
5) the Purickuta Concession lies relatively near existing pumping and solar evaporation installations;
6) the Purickuta Concession is close to power, labour, communications, transportation and other infrastructure.
The Company intends to undertake a preliminary resource definition program upon receipt of the National Instrument 43-101 report, which is expected to be completed in February, 2017.
“We are excited about the opportunity to earn a significant interest in a lithium concession located in the world’s most prolific lithium brine deposit, Chile’s Salar de Atacama. Having two lithium giants, SQM and Albemarle, as neighbours in the salar gives us confidence that we will be able to develop this concession alongside our Chilean partner, Durus Copper, for the benefit of our shareholders.” says Tim Fernback, LiCo’s Chief Operating Officer.
The Purickuta Project consist of 160 hectares and is one of a few “exploitation concessions” granted within the Salar de Atacama, home to approximately 37% of the worlds Lithium production. The property is contained within an existing exploitation concession owned by Sociedad Quimica y Minera (“SQM”), and lies approximately 3 km north of the exploitation concession of CORFO (the Chilean Economic Development Agency). About 22 km south-east from the Purickuta Concession, both SQM and Albemarle Corp. have large-scale production facilities within the CORFO concession mentioned above. These two facilities collectively produce over 62,000 tonnes of Lithium Carbonate Equivalent annually and account for 100% of Chile’s current lithium output.
Salar de Atacama is a salt flat encompassing 3,000 km2 being about 100 km long and 80 km wide. The salar possesses a very high grade of both lithium (1,840mg/l) and potassium (22,630mg/l). It has a high rate of evaporation (3,200 mm per year) and extremely low annual rainfall (15mm average per year). These characteristics make Atacama’s finished lithium carbonate easier and cheaper to produce than its peer group globally.
Structure of the LOI and subsequent Agreement:
The proposed transaction to acquire an interest in the Project up to 60%, shall be effected by payment of the amounts described below:
(a) payment of US$100,000 in cash by the Company to be paid to Durus Copper on the date that the Company receives a title opinion acceptable to LiCo, and in any event no later than December 31, 2016 (paid).
(b) the Company shall pay the sum of US$300,000 in cash and issue an aggregate of 5,000,000 common shares of the Company to Durus Copper within five (5) business days of date of TSX Venture Exchange approval (the “Effective Date”);
(c) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper no later than six (6) months from the Effective Date;
(d) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper on the earliest date that is 12 months from the Effective Date or the date of the receipt of a positive preliminary economic assessment on the Property;
(e) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper upon the completion of a positive feasibility report on the Property and at the latest 18 months from the Effective Date;
(f) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper upon receipt of a special lithium operation contract (the “CEOL”) regarding the Property; and
(g) the Company shall have the exclusive right to accelerate all payments due under this agreement.
Once LiCo has completed the foregoing conditions and as a result has exercised the option to acquire an initial 50% interest in the Purickuta Project (including the completion of the Work Commitment described below), and during a period not to exceed 12 months from the date the CEOL is executed, LiCo has an option to commence construction of a plant to achieve production at a minimum rate of 2,000 TPA or up to a maximum rate of 4,000 TPA. The Parties may agree to increase the production rate by mutual consent.
For the first US$10 million invested by LiCo in plant construction, LiCo will acquire an additional 10% interest in the Property from Durus Copper, to complete the acquisition of the 60% interest in the Purickuta Project.
Work Commitments:
LiCo shall be required to complete the following under its “Work Commitment” obligations as follows:
(a) the receipt of an acceptable title opinion in regards to the Purickuta Project, as required for the first US$100,000 payment;
(b) the completion of a NI 43-101 compliant report;
(c) the Preliminary Economic Assessment;
(d) the Project Feasibility Study; and
(e) the procedure and application for the execution of the CEOL.
The transaction will be subject to TSX-Venture approval. Finders fees are payable in connection with the sourcing and negotiation of the potential acquisition of the Purickuta Project.
Qualified Person: The technical content of this news release has been reviewed and approved by Alan Morris CPG.
LiCo Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s focus is directed towards exploration for high value metals integral to the manufacture of lithium ion batteries.
The Company has an option to earn 100% ownership, subject to a royalty, in the Teledyne Project located near Cobalt. Ontario. The Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine. From 1905 through to 1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt and 980,000 oz. of silver. A significant portion of the cobalt that was produced at the Agaunico Mine located along structures that extended southward onto property currently under option to LiCo Energy Metals.
The Company has an option to acquire a 100% interest, subject to a 3% NSR, on a large lithium exploration project at the Humboldt Salt Marsh in Dixie Valley, Nevada. The geologic setting and presence of lithium in active geothermal fluids and surface salts in Dixie Valley match characteristics of producing lithium brine deposits at Clayton Valley, Nevada and in South America.
The Company has entered into an option agreement whereby the Company may earn an undivided 70% interest, subject to a 3% Net Smelter Return Royalty, in the Black Rock Desert Lithium Project that consists of 199 placer claims (3,980 acres, or 1,610 hectares) in southwest Black Rock Desert, Washoe County, Nevada.
The Company has signed a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa, of Santiago, Chile whereby LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation Concession located within Chile’s Salar de Atacama, the world’s largest and purest active source of lithium.
The Company is planning an exploration programs for all its properties over the next several months.
On Behalf of the Board of Directors
Rick Wilson, President & CEO
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.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as TSX Venture Exchange approval of any Option Agreement for the acquisition of an interest in the Purickuta Project, the satisfaction of any obligations and conditions that may be contained in such Option Agreement, and the Company’s ability to exercise the Option, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
Tags: #mining, #smallcapstocks, $TSXV Posted in Featured, Small Cap Lithium Stocks | Comments Off on Company Provides Update to “LiCo Energy Metals Enters into Letter of Intent to Acquire Lithium Exploitation Concession, Salar de Atacama in Chile’s Lithium Triangle” Press Release $LIC.ca
Posted by AGORACOM-JC
at 10:39 AM on Thursday, January 5th, 2017
Image: Tesla Motors chief executive Elon Musk jumps out of one of his electric vehicles. Picture: NEWZULU.
Elon Musk’s Tesla Motors says it has started producing lithium-ion battery cells at its $5 billion factory in Nevada.
The company says it began making high-performance cells in December and production started overnight for cells used in Powerwall energy-storage products.
Tesla plans to start making batteries for its Model 3 sedans later this year.
The massive Gigafactory outside Sparks is coming online in phases, with a goal of full operation in 2018.
Officials say it could almost double the world’s production of lithium-ion batteries, making them more affordable as the company looks beyond the luxury niche market.
The electric carmaker says it has more than 850 full-time employees, plus more than 1700 construction workers.
Nevada has promised Tesla $1.3 billion in state tax incentives based on projections that it’ll employ 6500 people at full production.
Posted by AGORACOM-JC
at 4:46 PM on Friday, December 30th, 2016
A Tesla electric car at a charging station.
onus is now on rechargeable batteries – rather than petrol – to propel the automotive industry into its proposed greener future, with lithium ion cells being the prevailing form of this technology.
The automotive industry’s focus on electrification has accelerated in 2016.
Volkswagen Chairman Herbert Deiss told CNBC at the Paris Motor Show in November that “electric mobility will take off by 2020,” while Tesla CEO Elon Musk announced in May his aim for annual production to be at 1 million vehicles by this same year.
The onus is now on rechargeable batteries – rather than petrol – to propel the automotive industry into its proposed greener future, with lithium ion cells being the prevailing form of this technology.
“Lithium is a pretty abundant element naturally,” Jamie Speirs, a fellow in energy analysis and policy at Imperial College London, told CNBC via telephone. But, though worldwide production of the metal is increasing year on year, he detailed that “the current supply chain will not match up with lithium demand by, say, 2040.”
Unsurprisingly, as automakers gear up to sell more electric vehicles, prices for lithium have also risen.
“Owing to increased worldwide demand, spot lithium carbonate prices (in 2015) increased approximately 10% to 15% from those of 2014,” wrote the United States Geological Survey (USGS) in January of this year. So, which countries are crucial to lithium’s production – and who has the potential to control this market in the future? CNBC investigates.
BSIP | UIG | Getty Images
The Chang Tang plateau in Tibet, China, is known for its lithium resources.
China
Analysts CNBC spoke to concurred that China was ahead of the game in terms of its lithium production.
China’s lithium reserves are an estimated 3.2 million metric tons, according to the USGS in January 2016, meaning that the superpower ranks among those with the largest domestic supply. Most resources are located in its Qinghai and Tibet regions.
Perhaps in response to how much the market has grown – and where it may progress to in coming years – the price of Chinese battery grade lithium is currently well over $20,000/tonne, compared to $7,000/tonne in mid-2015, according to mining analysis firm CRU.
“China has a stranglehold on lithium production,” Speirs said. “Well organised and professionally run mining companies” make this enterprise profitable, he added.
This is bolstered by the convenient fact that China is the world’s largest electric vehicle market. According to the China Association of Automobile Manufacturers, sales of battery electric vehicles reached 258,000 units in the first ten months of 2016, increasing 102.5 percent year on year. In addition, the Chinese government has unveiled several incentives in recent years aimed at addressing the country’s environmental problems.
“In the future, we expect supply from China to increase significantly to meet the domestic demand,” CRU told CNBC via e-mail.
Lithium: powering your electric car? Â
Latin America’s ‘lithium belt’
Argentina, Bolivia and Chile form a troika of lithium producers in Latin America, otherwise known as the “lithium belt” or “lithium triangle.” Could these countries spearhead a second commodity boom in the region?
“Latin American countries once produced lithium from ore, as with other metals, but can now do so from brine, which is cheaper,” Speirs explained. Contributing to the metal’s profitability, CRU added that for Latin America, “industrial-grade lithium carbonate contract prices increased by around 40% in 2016 due to strong demand growth and the ongoing supply deficit. Battery-grade lithium carbonate and lithium hydroxide prices surged higher.”
But, structural problems could hamper this particular market from taking off.
DEA | V. Giannella | De Agostini | Getty Images
The Salar de Atacama salt flats in Chile.
Chile, with its dry climate and lithium-rich Salar de Atacama salt flats, is an ideal production environment. The country is also popular with investors due to its free market economy. In addition, Reuters reported in November that Chilean firm SQM, one of the world’s largest lithium producers, saw 2016 third quarter profits more than quadruple due to rising lithium prices.
But, CRU told CNBC via e-mail that, “the [Chilean] industry is facing serious issues such as [the] imposition of production quota, on-going labour disputes [and] water shortage.”
Bolivia, though boasting 9 million metric tons in lithium resources, has suffered from a lack of exploration, infrastructure and technology, according to CRU. But, the Bolivian government is looking to establish a more foreign investment-friendly environment to encourage the growth of its lithium mining industry.
Unwinding Argentina’s formerly protectionist economy has been a key goal of President Mauricio Macri, which could foreground the country’s role in the lithium supply market. “Abolition of export duty on value-added products and capital controls have encouraged lithium players to consider Argentina for investment destination,” CRU told CNBC via e-mail.
The future benefits of lithium-ion batteries Â
Australia
According to the USGC in January of this year, Australia’s estimated reserves sit at 1.5 million metric tons. By way of contextualizing this figure, CRU said that “in 2015, Australia was the largest producer of lithium and accounted for around 40% of global lithium supply.”
It added that lithium production capacity will increase, meaning that the country is expected to maintain its position as one of the largest lithium producers in the long term.
Location is key for Australia, as CRU explained that the country enjoys investment from “downstream players such as battery manufacturers in Asian countries.” Considering that lithium is not currently traded on any major commodities or futures exchanges, shoring up future supply is crucial.
