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Minnova Corp. Announces Reinstatement of Trading and Corporate Update
Newsfile· 2025-09-11 21:30
Core Viewpoint - Minnova Corp. has successfully reinstated its common shares on the TSX Venture Exchange following the resolution of a cease trade order by the Ontario Securities Commission, indicating a positive step towards operational stability and future growth [1][2]. Financial Position - As of July 31, 2025, Minnova Corp. reported a working capital deficiency of $544,611, which the company plans to address through a private placement to fund ongoing work programs at the PL Gold Mine [2]. PL Gold Mine Development - The company is advancing plans for an updated Mineral Resource Estimate and preliminary mine design, focusing on a new development plan that includes restarting mining operations from open pits to provide 1,000 tonnes per day of run-of-mine ore before transitioning to underground mining [3]. - The PL Gold Mine has a Positive Feasibility Study completed in 2018, projecting an average annual production rate of 46,493 ounces over a minimum five-year mine life, based on a gold price of US$1,250 per ounce [4]. - The project benefits from a short pre-production timeline of 15 months, an existing underground mining permit, and a processing plant capable of handling 1,000 tonnes per day, with significant existing infrastructure in the Flin Flon Greenstone Belt of Central Manitoba [4].