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Cornish Metals Releases Unaudited Financial Statements and Management's Discussion and Analysis for the Six Months Ended 30 June 2025
GlobeNewswire News Room· 2025-08-14 06:00
Core Points - Cornish Metals Inc. has released its unaudited financial statements and management discussion for the six months ended June 30, 2025, highlighting significant progress in advancing the South Crofty tin project [1][3] Financial Highlights - Total operating expenses for the six months ended June 30, 2025, were CAD 7,618,614, an increase from CAD 4,561,792 in the same period of 2024 [18] - The loss for the period was CAD 6,331,711, compared to CAD 4,126,256 in the previous year [18] - Net cash used in operating activities was CAD 6,275,976, up from CAD 2,281,351 in 2024 [18] - Cash at the end of the period increased to CAD 73,777,481 from CAD 6,048,987 in the previous year [18] Strategic Investment and Fundraise - A strategic fundraise totaling £57.4 million was completed, anchored by National Wealth Fund Limited and Vision Blue Resources Limited, with additional contributions from existing shareholders and new investors [2][4] - The fundraise is expected to provide financial runway through to the end of Q1 2026, allowing the company to further de-risk the South Crofty project [5] Grant Funding Investment - The Bartles Foundry project received grant funding of up to £4.2 million from the Cornwall and Isles of Scilly Good Growth Programme, covering approximately 62% of the total project cost estimated at £6.8 million [5][21] Key Long-Lead Item Orders - Orders have been placed with Qualter Hall for the design and manufacture of production and service winders for the South Crofty project, which are critical long-lead items [6] Mine Dewatering and Shaft Refurbishment - Mine dewatering has resumed near full capacity, and refurbishment of the New Cook's Kitchen shaft is progressing well, with completion expected by mid-2026 [7][9] Surface Works at South Crofty - The first major phase of surface redevelopment began in early July 2025, including refurbishment of the Mine Dry building and demolition of old structures [11] Senior Management Appointments - The company appointed Dave Howe as General Manager and Guillermo Alcazar as Project Director to strengthen the project and operations teams [12][13] Sale of North American Assets - The company received US$1.5 million from Elemental Altus Royalties Corp. and a final cash payment of $250,000 from Northera Resources Ltd. for the Nickel King property [14][15] Sustainability Report and Rating - Cornish Metals published its inaugural sustainability report for 2024 and received an overall sustainability rating of "A" from Digbee, marking a significant milestone in its commitment to sustainability [16][17]
Rockland Resources Receives Tentative Approval To Drill At The Claybank Beryllium Critical Mineral Project, Utah
Thenewswire· 2025-08-13 08:00
Core Viewpoint - Rockland Resources Ltd. has received tentative approval for drilling at its Claybank Beryllium Project in Utah, which is strategically located near Materion Corp.'s beryllium mines, indicating a significant step forward in the company's exploration and development efforts in the beryllium sector [1][2]. Company Developments - The company plans to file the reclamation surety requirement this week and will be ready to start drilling after a 30-day notice to the State [1]. - Rockland's President expressed satisfaction with the State of Utah's proactive approach in streamlining the permitting process, highlighting Utah's ranking as the number one jurisdiction for mineral exploration and development by the Fraser Institute [2]. - Historical drilling at Claybank in 1987 identified a zone of beryllium mineralization approximately 70 meters long, with drillhole intercepts ranging from ~2,500 to 6,500 ppm Be [2]. - Recent sampling of stockpiles at Claybank returned a weighted average of 1,741 ppm Be, with new sampling results expected in the coming weeks [2][3]. Additional Projects - Rockland is also advancing its Beryllium Butte project, which has shown promising grab sample results with highs of 4,810 ppm Be, and is permitted for drilling later this year [3]. - The Meteor project, located 70 km west of Materion's pits, includes historic mines and prospects focused on tungsten, with plans for additional reconnaissance and sampling [4]. Strategic Partnerships - The company has an informal arrangement with MiRESSO, a fusion-focused company, to provide Be-bearing rock samples for testing, aimed at developing an energy-efficient extraction process for beryllium [6]. - Rockland has engaged in informal discussions with Mithril Mining Corporation to leverage expertise in processing techniques for beryllium and other critical minerals [7]. Industry Context - Beryllium is recognized as a critical and strategic mineral with applications across various sectors, including aerospace, telecommunications, and clean energy, emphasizing the importance of domestic sources for future supply [11][12].
Cornish Metals Provides an Update on Dewatering and Shaft Refurbishment
GlobeNewswire News Room· 2025-08-13 06:00
Core Viewpoint - Cornish Metals Inc. is making significant progress in the refurbishment of the New Cook's Kitchen shaft and mine dewatering at its South Crofty tin project, with work expected to continue into mid-2026 [1][3]. Group 1: Project Progress - Mine dewatering and refurbishment have reached the mid-shaft pump station at approximately 360 meters below the surface, with the installation of new permanent pumps underway [2]. - The completion of work on the pump station is anticipated in Q4 2025, after which dewatering and refurbishment will resume down to approximately 730 meters below the surface [3]. Group 2: Project Significance - The South Crofty tin project is a high-grade underground tin mine in Cornwall, UK, with existing infrastructure that supports future operations [5]. - The project is permitted for underground mining until 2071 and aims to be the only primary tin producer in Europe or North America, addressing the critical mineral demand as two-thirds of current tin production comes from China, Myanmar, and Indonesia [5]. - The project is expected to generate over 300 direct jobs, benefiting from strong local and governmental support [5].
Cornish Metals Announces Inaugural Digbee ESG Rating of A
Globenewswire· 2025-08-12 06:00
Core Viewpoint - Cornish Metals Inc. has received an inaugural overall sustainability rating of A from an independent panel of sustainability experts, reflecting the company's commitment to responsible mining practices and transparency [1][4][5]. Company Performance - The A rating from Digbee is an average score derived from a range of evaluations, indicating significant achievements in transparency, environmental stewardship, and community engagement [2][5]. - The company has embedded ESG (Environmental, Social, and Governance) priorities into its strategic planning and governance structures, including a formal sustainability strategy and linking ESG KPIs to executive remuneration [8]. Project Details - The South Crofty tin project is fully permitted for underground mining and is positioned to be the only primary producer of tin in Europe or North America, which is classified as a Critical Mineral [12]. - The project incorporates sustainable practices such as the reuse of existing infrastructure, backfilling of tailings, and the use of renewable electricity, aimed at reducing greenhouse gas emissions and water pollution [8]. Investment and Market Confidence - Cornish Metals has attracted significant investment from Vision Blue Resources and the UK National Wealth Fund, collectively holding over 55% of the company, indicating strong market and public-sector confidence in its responsible production model [8].
VIZSLA SILVER ANNOUNCES CHANGE OF TRANSFER AGENT
Prnewswire· 2025-08-11 13:00
Core Viewpoint - Vizsla Silver Corp. has announced the replacement of Computershare Trust Company with Odyssey Trust Company as its transfer agent effective August 11, 2025, with no action required from shareholders [1]. Company Overview - Vizsla Silver is a Canadian mineral exploration and development company based in Vancouver, BC, focusing on its flagship Panuco silver-gold project in Sinaloa, Mexico [3]. - The company completed a Preliminary Economic Study for the Panuco project in July 2024, indicating an annual production of 15.2 million ounces of silver equivalent (AgEq) over an initial mine life of 10.6 years, with an after-tax NPV5% of US$1.1 billion, an internal rate of return (IRR) of 86%, and a payback period of 9 months at silver and gold prices of US$26 per ounce and US$1,975 per ounce, respectively [3]. Contact Information - Shareholders and interested parties can contact Odyssey Trust Company for inquiries related to shareholder records and share transfers [2]. - For further information about Vizsla Silver, Michael Konnert, the President and CEO, can be reached at the provided contact details [4].
High Tide Resources Announces Non-Brokered Private Placement
Globenewswire· 2025-08-06 11:00
The net proceeds from the issue and sale of the Common Shares will be used for metallurgical testwork of the Labrador West Iron Project and for general corporate and working capital purposes. It is expected that the Offering will close on or about August 22, 2025 (the "Closing Date") or such other date or dates that the Company may determine, subject to the receipt of all required approvals, including acceptance of the Canadian Securities Exchange (the "CSE"). All securities issued and issuable in connectio ...
Sanatana Announces Market Making Services Agreement with Independent Trading Group
Newsfile· 2025-08-01 20:45
Core Viewpoint - Sanatana Resources Inc. has entered into a market-making services agreement with Independent Trading Group, effective August 1, 2025, aimed at improving the liquidity of the Company's shares on the TSX Venture Exchange [1][2]. Group 1: Agreement Details - The agreement has an initial term of one month and will automatically renew for additional one-month terms unless terminated by either party with a 30-day written notice [2]. - Sanatana will pay ITG a cash fee of $5,000 per month for the services provided, plus applicable taxes [2]. - There are no performance obligations in the agreement, and ITG will not receive any equity compensation from Sanatana [3]. Group 2: Company and ITG Background - Sanatana Resources Inc. is a mineral exploration and development company focused on high-impact properties in Canada, based in Vancouver and listed on the TSX Venture Exchange [5]. - Independent Trading Group, established in 1992 and based in Toronto, specializes in market making, liquidity provision, and algorithmic trading solutions [4].
Hercules Metals Announces C$15 Million Financing
GlobeNewswire News Room· 2025-07-28 23:35
Core Viewpoint - Hercules Metals Corp. has announced a private placement offering of up to 21,430,000 common shares at a price of C$0.70 per share, aiming to raise gross proceeds of up to C$15,001,000 for exploration and development of its Hercules property in Idaho [1][3]. Group 1: Offering Details - The offering will be conducted by Canaccord Genuity Corp. and BMO Capital Markets as co-lead agents, with an option to sell an additional 3,214,500 shares for up to C$2,250,150 in gross proceeds [1]. - The shares will be offered under the Listed Issuer Financing Exemption, allowing for sales in Canada (excluding Quebec) and the United States without the need for a prospectus [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for exploration and development of the Hercules property and for general working capital purposes [3]. Group 3: Company Overview - Hercules Metals Corp. is focused on developing a new porphyry copper district in Idaho, with its 100% owned Hercules property hosting the newly discovered Leviathan porphyry copper system [7]. - The company is positioned for growth through continued drilling and has received strategic investment support from Barrick Mining Corporation [7][8].
Nova Minerals Advises Permitting for the West Susitna Access Road to the Estelle Project Site has been Submitted
Globenewswire· 2025-07-28 10:30
Core Viewpoint - Nova Minerals Limited is advancing the West Susitna Access Road project, which is crucial for enhancing infrastructure and resource development in Alaska, particularly for the Estelle Project [1][8][19] Group 1: Project Overview - The West Susitna Access Road will be a 78.5-mile all-weather road, starting approximately 1.4 miles west of Alexander Creek and extending to the Whiskey Bravo airstrip and mineral exploration camp [2][8] - The road aims to improve year-round public access to currently hard-to-reach lands, facilitating logistics and resource development [2][3] Group 2: Economic and Community Impact - The project is expected to unlock significant economic opportunities, enhance local access, and create jobs, benefiting Alaskan families, local businesses, and resource developers [3][5] - Government officials, including Alaska Governor Mike Dunleavy, have expressed strong support, highlighting the road's potential to boost economic development and provide better access to recreational activities [6][9] Group 3: Regulatory and Funding Aspects - AIDEA has submitted the permit application to the U.S. Army Corps of Engineers, with the permitting process scheduled for 2025-2026 [1][8] - Funding for the road is anticipated to follow a public-private partnership model, similar to previous successful infrastructure projects in Alaska [6][8] Group 4: Political and Community Support - The project has garnered bipartisan support from state lawmakers and local stakeholders, emphasizing its importance for unlocking Alaska's resource potential and improving public land access [9][10][11] - Local business owners have welcomed the permit application as a significant milestone, expressing optimism about the project's positive impact on the community [12]
Electrum Discovery Reports Results of its Annual and Special Meetings of Shareholders and Welcomes Michael Williams and John Anderson to the Board of Directors
Thenewswire· 2025-07-28 06:00
Core Viewpoint - Electrum Discovery Corp. successfully held its Annual General and Special Meeting, with shareholders approving all items proposed by the Board of Directors and management [1]. Board of Directors - Michael Williams and John Anderson were elected to the Board, replacing Eric Rasmussen and R. Michael Jones [2]. - Michael Williams brings 29 years of mining industry experience and has held leadership roles in several public companies, including serving as Executive Chairman of Aftermath Silver [3]. - John Anderson has over 20 years of capital markets experience in the resource sector and has been involved in founding multiple start-up companies [4]. Voting Results - The voting results showed overwhelming support for the number of directors, with 99.99% voting in favor [5]. - Specific votes included: - Appointment of Smythe LLP as auditors received 100% approval [5]. - The Stock Option Plan received 92.02% approval, while the Equity Incentive Compensation Plan received 90.32% approval [5]. - The proposal for corporate jurisdiction continuance to the Abu Dhabi Global Market received 99.60% approval [5][6]. Corporate Strategy - The decision to continue the corporate jurisdiction to the Abu Dhabi Global Market was made for strategic reasons, with the timing subject to Board discretion and regulatory approvals [6][7]. - Electrum Discovery Corp. focuses on mineral exploration and development in the Western Tethyan Belt, with significant projects in Serbia [7]. Project Details - The Timok East project covers 123 square kilometers in the Timok copper-gold region, located near the Bor Mining Complex [7]. - The Novo Tlamino project has an inferred mineral resource estimate of 670,000 oz AuEq, with a Preliminary Economic Assessment conducted in January 2021 [8].