White Cliff Minerals

License Approvals Received from North-West Territories Regulator for Radium Point Project

White Cliff Minerals Limited (White Cliff or the Company) is pleased to advise that applications lodged by the Company in Q4 2023 to the Northwest Territories Mining Recorder Office over the Radium Point exploration areas have now been granted.


Highlights of the Radium Point Project area include:

  • The Eldorado mine was Canadas largest uranium mine between 1930-1960
  • Historical production (pre-1982) within the Project area totalled:
    • 13,700,000lbs Uranium oxide (“U3O8”),
    • 34,200,000oz refined silver,
    • 11,377,040 lbs of copper with gold credits,
    • 104,000kg lead, 127,000kg Nickel & 227,000kg Cobalt.
  • The Radium Point Project area has been identified by the Northwest Territories (“NWT”) Geoscience Office as having the highest potential for large scale Iron Oxide Copper Gold & Uranium style mineralisation in Canada.
  • Mineral exploration in the region has been minimal since uranium production ceased in the 1960s and silver and copper mining halted in the early 1980s.
  • White Cliff is now the single largest holder of mineral exploration claims and licenses in the Northwest Territories.
  • Work will focus on former mined areas for extensions to previously exploited mineral bodies as well as known outcropping prospects throughout the license area through air and ground geophysics, rock chip sampling on previously identified outcropping high-grade uranium mineralisation, and confirmation testing of larger geochemically anomalous areas throughout the broader Project area in preparation for drilling.
  • The Company anticipates being able to update shareholders on these upcoming work programmes that are currently being devised with its consultants over the high priority targets in the near future.
This approval marks another major step in the permitting process and allows the Company to now appoint contractors for 2024 exploration activities and complete the logistical planning phase.

The Company will update shareholders shortly on the appointment of contractors for airborne sensing and data gathering, detailed mapping, and sampling activities to identify areas for further detailed study within the licence area.

Commenting on the licence approvals, White Cliff Chairman, Roderick McIllree said:

"With the granting of these licences, we are now finalising contractor selection and anticipate commencing exploration activities in Q2 2024.

The Radium point programme will run in close collaboration with planned work at Coppermine, the company’s recently granted district scale copper project. In some instances, White Cliff will use the same contractors, with geophysical programmes culminating in extensive drilling on outcropping areas identified throughout this large-scale mineralised area over time.

While focus will move to finalising operational aspects of the upcoming exploration programme the Company will also continue to work closely with local communities, indigenous groups and other stakeholders to ensure activities align with community expectations and these considerations are actively integrated into all activities.”

About The Project1

The Radium Point Project in the Echo Bay district of the northern Great Bear magmatic zone (GBMZ) and comprises an extensively hydrothermally altered and mineralised Proterozoic continental andesitic stratovolcano-plutonic complex.

The known uranium, copper and gold occurrences are associated with epithermal veins, with historical production recorded from multiple historical mines of varying sizes, the two most significant being the Eldorado/Echo Bay mine and the Contact Lake Mine. After Uranium production ended (Contact Lake 1939 and Eldorado/Echo Bay 1960), the area became a silver and copper producer between 1964 and 1982 when processing ceased.

Exploration History and Project Information

Historical work undertaken before 1985 by multiple public institutions and private companies over Radium Point demonstrates widespread undrilled mineralisation expressed at surface.

Various regional airborne surveys have been completed, which will be used to guide initial work on the Project along with the information contained within the mass of historical data containing large amounts of drill, soil, rock chip and trench results.

The Company will now work on assimilating these geological, geochemical & geophysical datasets to prepare a systematic and detailed exploration programme for 2024.


Click here for the full ASX Release

This article includes content from White Cliff Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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White Cliff Minerals Limited (ASX: WCN) – Trading Halt

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The securities of White Cliff Minerals Limited (‘WCN’) will be placed in trading halt at the request of WCN, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 26 November 2024 or when the announcement is released to the market.

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SQM REPORTS EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024

Highlights


  • SQM reported total revenues for the nine months ended September 30, 2024 of US$3,455.0 million compared to total revenues of  US$6,155.9 million for the same period last year.

  • Net loss (1),(2) for the nine months ended September 30, 2024 of (US$524.5) million or (US$1.84) per share, compared to net income (2) of  US$1,809.5 million or US$6.33 per share for the same period last year.

  • Solid sales volumes in lithium, iodine, and fertilizer businesses.

  • SPN and Potassium businesses posted healthy growth showing market recovery.

  • Slight increase in iodine prices, due to strong market demand and limited supply.

  • First lithium sales from the SQM International lithium division.

SQM will hold a conference call to discuss these results on Wednesday, November 20, 2024 at 10:00am ET (12:00pm Chile time).

Participant Dial-In (Toll Free): 1-844-282-4852

Participant International Dial-In: 1-412-317-5626

Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=xdNdTppQ

SANTIAGO, Chile , Nov. 20, 2024 /PRNewswire/ -- Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today net loss ( [1] ),(2)   for the nine months ended September 30, 2024 , of (US$524.5) million or (US$1.84) per share, compared to US$1,809.5 million or US$6.33 per share reported for the same period last year.

(PRNewsfoto/Sociedad Quimica y Minera de Chile, S.A. (SQM))

Gross profit (3) reached US$1,033.3 million (29.9% of revenues) for the nine months ended September 30, 2024 , lower than US$2,674.3 million (43.4% of revenues) recorded for the nine months ended September 30, 2023 . Revenues totaled US$3,455.0 million for the nine months ended September 30, 2024 , representing a decrease of 43.9% compared to US$6,155.9 million reported for the nine months ended September 30, 2023 .

The Company also announced net income for the third quarter of 2024 of US$131.4 million or US$0.46 per share, a decrease of 72.6% compared to US$479.4 million or US$1.68 per share for the third quarter of 2023. Gross profit for the third quarter of 2024 reached US$280.8 million , 62.7% lower than the US$753.6 million reported for the third quarter of 2023. Revenues totaled US$1,076.9 million for the third quarter of 2024, a decrease of 41.5% compared to US$1,840.3 million for the third quarter of 2023.

SQM's Chief Executive Officer, Ricardo Ramos , stated, "We are publishing our third quarter 2024 financial results with positive volume growth in almost all of our business lines compared to last year. Fertilizer markets have shown solid market dynamics with a market size recovery. Our Specialty Plant Nutrition volumes grew more than 20% year-on-year while our revenues in this business line increased close to 12%."

He continued, "Iodine demand continued to be strong, leading to an increase in our sales volumes and revenues compared to last year. Prices continued to move up slightly quarter over quarter since the beginning of this year and we have used part of our inventories to answer market needs."

Mr. Ramos further stated, "In lithium, we reported sales volumes of more than 51 thousand metric tons of lithium products, an 18% growth year-on-year, demonstrating strong demand in the market. As anticipated, prices during the third quarter continued their downward trend, with average realized prices 24% lower than the second quarter this year. Although demand continues to grow at a strong pace, mainly driven by strong EV sales growth in China , we continue to see the prices pressured by an oversupply that persists despite the curtailment announcement we have seen over the past few weeks."

Mr. Ramos closed by saying, "Our more than 30-year track record in the lithium market has proved that we have a long-term view in this business. Despite current market prices, we strongly believe in the lithium market and its fundamentals which are highly related to the clean energy transition. SQM is in a strong competitive position and well prepared to continue developing our projects in Chile and abroad to harvest the benefits of this transition."

About SQM

SQM is a global company that is listed on the New York Stock Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A). SQM develops and produces diverse products for several industries essential for human progress, such as health, nutrition, renewable energy and technology through innovation and technological development. We aim to maintain our leading world position in the lithium, potassium nitrate, iodine and thermo-solar salts markets.

For further information, contact:

Gerardo Illanes / gerardo.illanes@sqm.com
Isabel Bendeck / isabel.bendeck@sqm.com

For media inquiries, contact:

Maria Ignacia Lopez / ignacia.lopez@sqm.com
Pablo Pisani / pablo.pisani@sqm.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "plan," "believe," "estimate," "expect," "strategy," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make concerning the completion and implementation of the proposed partnership with Codelco, the development of Salar Futuro Project, Company's capital expenditures, financing sources, Sustainable Development Plan, business and demand outlook, future economic performance, anticipated sales volumes and sales prices, profitability, revenues, expenses, or other financial items, anticipated cost synergies and product or service line growth.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are estimates that reflect the best judgment of SQM management based on currently available information. Because forward-looking statements relate to the future, they involve a number of risks, uncertainties and other factors that are outside of our control and could cause actual results to differ materially from those stated in such statements, including our ability to successfully implement the Sustainable Development Plan. Therefore, you should not rely on any of these forward-looking statements. Readers are referred to the documents filed by SQM with the United States Securities and Exchange Commission, including the most recent annual report on Form 20-F, which identifies other important risk factors that could cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements are based on information available to SQM on the date hereof and SQM assumes no obligation to update such statements, whether as a result of new information, future developments or otherwise, except as required by law.

News Provided by PR Newswire via QuoteMedia

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