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Surge Copper Announces Closing of Strategic Private Placement with African Rainbow Minerals Limited
Globenewswire· 2025-09-18 15:01
Core Viewpoint - Surge Copper Corp. has successfully closed a strategic private placement with African Rainbow Minerals Limited, raising approximately C$4.5 million, which will be used to advance its Berg Project and support exploration activities [1][2]. Group 1: Strategic Placement Details - African Rainbow Minerals Limited purchased 25,781,715 common shares at a price of $0.175 per share, increasing its ownership in Surge to 19.9% [1]. - The total funds raised from this strategic placement and other financing efforts amount to approximately C$10.4 million [2]. - The net proceeds will be allocated to the Berg Project, exploration activities, and general working capital [2]. Group 2: Project Information - Surge Copper Corp. owns a 100% interest in the Berg Project, which has a Preliminary Economic Assessment (PEA) indicating an NPV8% of C$2.1 billion and an IRR of 20% based on long-term commodity prices [5]. - The Berg Project is located in a safe jurisdiction with access to road, power, and port infrastructure, and contains NI 43-101 compliant resources of copper, molybdenum, silver, and gold [5]. - The company also owns the Ootsa Property, which contains advanced-stage exploration projects with compliant resources of copper, gold, molybdenum, and silver [6]. Group 3: Regulatory and Compliance - The participation of ARM in the strategic placement is classified as a "related party transaction" under TSXV Policy 5.9 and MI 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements [3]. - The company did not file a material change report at least 21 days before the closing of the strategic placement, which it deemed reasonable to expedite the process [3]. Group 4: Company Overview - Surge Copper Corp. is advancing a critical metals district in British Columbia, Canada, with a large mineral claim package hosting multiple advanced porphyry deposits [4]. - The company focuses on critical metals essential for modern energy infrastructure and electrification technologies [4].
Canadian Critical Minerals Announces $600,000 Flow-Through Financing
Newsfile· 2025-09-17 21:05
Group 1 - Canadian Critical Minerals Inc. (CCMI) announces a flow-through financing for gross proceeds of $600,000, consisting of 17,142,858 flow-through units priced at $0.035 per unit [1][2] - Each unit includes one flow-through share and one-half of a common share purchase warrant, exercisable at $0.05 per share for three years [1][2] - The financing proceeds will be allocated for exploration and development activities at the Bull River Mine project located near Cranbrook, B.C. [2] Group 2 - CCMI is primarily focused on copper production assets in Canada, with its main asset being the 100% owned Bull River Mine project, which contains 150 million lbs of copper [3] - The company also holds a 9% interest in XXIX Metal Corp., which owns the Thierry copper project in Ontario and the Opemiska copper project in Quebec [3]
Search Minerals Announces Convertible Loan and Convertible Loan for Debt Conversion Transactions
Newsfile· 2025-09-17 13:15
Core Viewpoint - Search Minerals Inc. has announced a $3,000,000 unsecured convertible revolving loan from Petra Holdings Company Inc. to support the development of its mining projects and improve its financial structure [1][2][3]. Financing Details - The loan proceeds will be allocated for the development of the Foxtrot and Deep Fox mining projects, including equipment acquisition, site operations, infrastructure, technical assessments, environmental compliance, and general working capital [2]. - The loan will bear an interest rate of 15% per annum, payable quarterly, and the principal amount is due three years from the initial drawdown [4]. - The loan is convertible into common shares at a price of $0.50 per share for the first year, with subsequent conversions based on the average closing price on the TSX Venture Exchange [5]. Corporate Governance and Information Rights - Petra will have the right to nominate a director to the Company’s board as long as it holds at least 5% of the outstanding shares or has $500,000 principal amount outstanding under the loan [6]. - The Company is required to provide Petra with copies of all continuous disclosure documents filed on SEDAR+ [7]. Conditions Precedent - The closing of the loan is contingent upon the execution of a definitive loan agreement, approval from the Company’s Board of Directors, and approval from the TSX Venture Exchange [8]. Additional Debt Conversion - Search Minerals has also entered into an agreement with LeadFX Inc. to convert $404,053.73 of debt into a fixed-term unsecured convertible loan to assist in reorganizing its debt structure [9][10]. - Similar to the Petra loan, the LeadFX Loan will bear a 15% interest rate and is convertible into common shares at a price of $0.50 per share for the first year [11][12]. Company Overview - Search Minerals focuses on exploring and developing Critical Rare Earth Elements (CREE) and transition metals in the Port Hope Simpson - St. Lewis CREE District of South-East Labrador, controlling two primary deposits and several other prospects [14][15].
Casa Minerals Inc Announces Advanced Ground IP Survey at the Arsenault Project
Newsfile· 2025-09-17 10:00
Core Insights - Casa Minerals Inc. has announced partial results from a 3D ground-based Induced Polarization (IP) survey at the Arsenault property, which is located in northern British Columbia and is prospective for copper-silver-lead-zinc deposits [1][2]. Survey Details - The geophysical contractor utilized advanced instruments with dipoles at 100m station spacing, covering 60 km of parallel lines with 200m line spacing over approximately 12 square kilometers of the 96.5 square kilometer Arsenault property [2]. - The survey is part of a larger geological investigation in the "Big Salmon" terrain, known for hosting significant VMS and precious metals deposits [2]. Data Processing and Interpretation - Data from the survey is being processed to create two-dimensional drawings that illustrate ground mass resistivity and chargeability, with survey lines controlled by GPS [3]. - The results indicate strong geophysical signatures that align with previous data, including findings from a 2017 Airborne Electromagnetic survey, showing a pattern of high to very high chargeability responses [5]. Future Exploration Plans - Casa's management is finalizing plans to advance the Arsenault property, aiming to enter the drilling phase, focusing on areas with particularly strong technical signatures [6][7]. - The company has consulted with the Teslin-Taku First Nation and obtained a drill permit from the provincial government of British Columbia, ensuring adherence to environmental and social protocols [7]. Company Background - Casa Minerals Inc. is engaged in gold exploration in Arizona and British Columbia, with a commitment to creating shareholder value through the discovery and development of economic mineral deposits [24].
Spark Energy Minerals Validates Priority Lithium and Gallium-REE Drill Targets at Arapaima Project in Brazil's Lithium Valley
Newsfile· 2025-09-17 07:10
Core Insights - Spark Energy Minerals Inc. has made significant progress at its Arapaima Project in Brazil's Lithium Valley, confirming high-priority lithium and gallium-rare earth element (REE) drill targets through recent exploration work [2][5][6] Exploration Progress - The company is advancing logistics, surface access agreements, and permitting for aggressive diamond drilling at three lithium targets: Cruzeta, Água Branca, and Grota do Maquém, as well as air-core and/or reverse circulation drilling at the emerging gallium-REE Caladão Target [3][6] - Exploration activities have identified three high-priority lithium targets where lithium is strongly correlated with pathfinder elements such as cesium, tin, and rubidium, typical of fertile lithium-cesium-tantalum pegmatites [6][9] - Surface sampling has outlined a 4,500-hectare zone over the Caladão Granite with anomalous gallium and REE values, adjacent to Axel REE's recently reported discovery [9][29] Geochemical Analysis - Lithium shows a strong association with manganese and has been remobilized from primary sources, indicating potential for lithium mineralization at depth [7][11] - Recent rock-chip samples from the Cruzeta target have returned cesium values above 50 ppm, with some reaching 267 ppm, reinforcing the focus on these targets [17][19] - All three priority targets returned K/Rb ratios under 150, with Cruzeta showing a notably low ratio below 20, indicating strong lithium prospectivity [25][27] Future Plans - The exploration team is preparing logistics and permitting to begin drilling at priority lithium and rare earth targets, marking a transformative step toward unlocking the full potential of the Arapaima Project [33]
American Critical Minerals Raises $1 Million in Private Placement
Accessnewswire· 2025-09-16 21:00
Core Viewpoint - American Critical Minerals Corp. has successfully closed a non-brokered private placement, raising $1,000,000 through the issuance of 5,000,000 units at a price of $0.20 per unit [1] Group 1: Financial Details - The private placement consists of 5,000,000 units, each priced at $0.20, resulting in gross proceeds of $1,000,000 [1] - Each unit includes one common share and one-half of a share purchase warrant, with each whole warrant exercisable at $0.30 until September 16, 2027 [1]
Showcase Minerals Announces Results of 2025 Shareholders' Meeting
Newsfile· 2025-09-15 20:46
Company Overview - Showcase Minerals Inc. is a Canadian mineral exploration company with an option to acquire a 100% interest in 60 mineral claims comprising the Pontiac Uranium Project located near Fort Coulange in southwestern Québec, subject to a 2% net smelter returns royalty [3]. Annual Shareholders' Meeting - All items were approved at the 2025 annual shareholders' meeting held on September 3, 2025, and adjourned to September 10, 2025 [1]. - The number of directors was set at five, with Kirk Reed, Bruno Fruscalzo, Christopher Paterson, Jenela Bugarin, and Rene Bernard elected to the board of directors [1]. - K.R. Margetson Ltd., Chartered Professional Accountant, was re-appointed as the auditor of the Company [1]. Leadership - Mr. Reed continues as the Company's President and CEO [2]. - Mr. Fruscalzo continues as the Company's CFO [2].
Cordoba Minerals Announces Voting Results from Special Meeting of Shareholders
Newsfile· 2025-09-15 20:30
Core Points - Cordoba Minerals Corp. announced that all resolutions were overwhelmingly approved by shareholders at a special meeting held on September 15, 2025, including the sale of the remaining 50% interest in the Alacrán Project and other exploration assets in Colombia [1][3] - The company plans to make a cash distribution to shareholders as part of the approved plan of arrangement under the Business Corporations Act (British Columbia) [2][3] - The transaction is expected to close in the fourth quarter of 2025, pending the approval of the Environmental Impact Assessment by Colombia's environmental authority and the final approval from the TSX Venture Exchange [3] Voting Results - 100% of votes cast by shareholders present at the meeting approved the transaction, exceeding the required two-thirds majority [5] - 99.99% of votes cast, excluding those required to be excluded under specific policies, also exceeded the required simple majority [5] Company Focus - Following the approval, the company aims to sharpen its focus on the Perseverance Project, where it is well-positioned to advance key exploration opportunities [3][4]
Stillwater Critical Minerals Provides Update on Corporate, Exploration, and Development Activities
Accessnewswire· 2025-09-15 11:00
Corporate Highlights - Stillwater Critical Minerals Corp. is advancing its flagship Stillwater West Ni-PGE-Cu-Co + Au critical minerals project, which is 100% owned by the company [1] - The Stillwater West project is recognized as a significant large-scale potential source of ten minerals that are currently listed as critical by the U.S. government [1]
Happy Creek Minerals CEO discusses drill program at Fox Tungsten project - ICYMI
Proactiveinvestors NA· 2025-09-13 15:25
Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive has bureaus and studios in key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Group 2 - The company is committed to using technology to enhance workflows and has a team with decades of expertise [4] - Proactive occasionally employs automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]