Copper

Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) ("Lion CG" or the "Company") issues an update to prior news releases dated October 21, 2021 and January 31, 2022 to confirm the final terms of its previously announced option agreement (the "Agreement") with Houston Minerals Ltd. to acquire a 100% interest in the Chaco Bear Property and the Ashton Property located in British Columbia, Canada (collectively, the "Properties").

The term of the Agreement has been extended from a four year period to a ten year period, and the annual advance royalty payments in the amounts of C$250,000 on the Chaco Bear Property and C$150,000 on the Ashton Property are to be paid starting on the fifth year from closing through to the ninth year, rather than in the fourth and fifth year only. All other terms, as disclosed in the news release dated October 21, 2021 are unchanged.

The Properties are subject to a 2.5% net smelter returns royalty (the "NSR"), which may be bought-down as follows: (a) for the Chaco Bear Property, 1.5% NSR may be bought down in consideration for a cash payment of C$6,000,000 on or before the date that the Company publicly files a National Instrument 43-101 compliant technical report that qualifies as a "feasibility study" (the "Feasibility Date") in respect of the Chaco Bear Property, or a cash payment of $12,000,000 after the Feasibility Date in respect of the Chaco Bear Property; and (b) for the Ashton Property, 1.5% NSR may be bought down in consideration for a cash payment of $3,000,000 on or before the Feasibility Date in respect of the Ashton Property, or a cash payment of $6,000,000 after the Feasibility Date in respect of the Ashton Property.

The Chaco Bear Property is located in northern British Columbia, within the Stikine Terrane and hosted in similar rock formations as the Eskay Creek deposit, a precious metals volcanogenic massive sulphide (VMS) deposit in the Golden Triangle of British Columbia that was in production from 1994 to 2008.

The Ashton Property is located within the Spences Bridge Group, a narrow, northwest-trending belt of early cretaceous volcanic rocks covering nearly 3,200 square kilometers from Princeton to Lillooet in British Columbia that are highly prospective for epithermal style gold mineralization.

About Lion CG

Lion Copper and Gold Corp. is a Canadian-based company advancing its flagship MacArthur Copper Project in Mason Valley, Nevada, in addition to advancing its exploration projects including the Chaco Bear and Ashton properties in highly prospective regions in British Columbia, Canada, and the Blue Copper Project in Montana, USA.

Further information can be found at www.lioncg.com.

On behalf of the Board of Directors,
Stephen Goodman
President

For more information, please contact
Karen Robertson
Corporate Communications
778-898-0057

Email: info@lioncg.com
Website: www.lioncg.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117103

News Provided by Newsfile via QuoteMedia

LEO:CA
Lion Copper and Gold Company Logo

Lion Copper and Gold


Keep reading...Show less
Lion Copper and Gold Corp. Closes Convertible Debenture Financing

Lion Copper and Gold Corp. Closes Convertible Debenture Financing

Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) ("Lion CG", or the "Company") is pleased to announce that it has completed the first tranche of its previously announced non-brokered private placement of unsecured convertible debentures ("Debentures") for gross proceeds of US$1,075,000.

The Debentures bear interest at the rate of 14% per annum and mature on February 17, 2024. The Debentures may be converted into shares of the Company at US$0.067 per share until June 17, 2023 and thereafter at US$0.078 per share. The holder has the option to elect to be repaid in kind at any time prior to maturity of the Debentures by way of shares the Company owns of 1301666 BC Ltd., or its successor, (the "BC Ltd. Shares") at the rate of US$0.25 per BC Ltd. Share, provided that any Debenture held by an insider of the Company requires prior stock exchange approval prior to being repaid in kind.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lion Copper and Gold Corp. Announces Termination of Water Rights Sale, Debt Settlement, Grant of Stock Options, and Financing

Lion Copper and Gold Corp. Announces Termination of Water Rights Sale, Debt Settlement, Grant of Stock Options, and Financing

Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) ("Lion CG" or the "Company") is pleased to announce that it has reached an amicable agreement with Desert Pearl Farms to terminate the contract on the sale of the Company's water rights (as previously announced in a news release dated February 21, 2021). In light of the Company's agreement with Rio Tinto, the return of these water rights to the Company are expected to play a critical role in the reclamation and development of the MacArthur and Yerington projects.

As a consequence of the termination, the Company will recover the water permit designated for mining and milling use and will return the US$1,000,000 deposit to Desert Pearl Farms. This water permit is currently subject to court proceedings and settlement discussions between the Company and the State of Nevada.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lion Copper and Gold Announces Agreement for Stage One Work Program with Rio Tinto and Commencement of Permitting Process

Lion Copper and Gold Announces Agreement for Stage One Work Program with Rio Tinto and Commencement of Permitting Process

Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) ("Lion CG" or the "Company") is pleased to announce it has reached final agreement with Rio Tinto America Inc. ("Rio Tinto") on the scope of the Stage 1 Program of Work referenced in the Parties' March 18, 2022 Option Agreement. See news release dated March 21, 2022 for details.

With this key milestone achieved, Rio Tinto will provide funding to the Company in the amount of US$3,750,000 for Mason Valley project development, exploration efforts and other agreed-upon corporate purposes, including without limitation:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lion Copper and Gold Corp. to Hold Annual General Meeting Virtually

Lion Copper and Gold Corp. to Hold Annual General Meeting Virtually

Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) ("Lion CG", or the "Company") announces that its annual general meeting of shareholders (the "AGM") will be held May 18, 2022 at 10:00 a.m. (PST). This year the Company will provide shareholders with the option to attend the AGM virtually by video conference. Shareholders attending virtually will not have the ability to vote in person and must submit their form of proxy in order to have their shares counted and voted at the meeting. Shareholders wishing to attend the meeting virtually should contact the Company's Corporate Communications representative at krobertson@lioncg.com or 778-898-0057 to obtain a conference link.

About Lion CG

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lion Copper and Gold Receives Exchange Approval of Option to Earn-In Agreement with Rio Tinto

Lion Copper and Gold Receives Exchange Approval of Option to Earn-In Agreement with Rio Tinto

Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) ("Lion CG", or the "Company") is pleased to announce that further to its March 21, 2022 news release, the TSX Venture Exchange has approved the Company's Option to Earn-in Agreement (the "Agreement") with Rio Tinto America Inc. ("Rio Tinto") dated March 18, 2022.

Under the Agreement, Rio Tinto has the option to earn up to a 75% interest in the Company's Mason Valley, NV assets, including the historic Yerington mine, greenfield MacArthur Project, Wassuk property, the Bear deposit, and associated water rights (the "Mining Assets"). In addition, Rio Tinto will evaluate the potential commercial deployment of its NutonTM technologies at the site. NutonTM offers copper heap leaching technologies developed by Rio Tinto to deliver greater copper recovery from mined ore and access new sources of copper such as low-grade sulphide resources and reprocessing of stockpiles and mineralised waste. The technologies have the potential to deliver leading environmental performance through more efficient water usage, lower carbon emissions, and the ability to reclaim mine sites by reprocessing waste.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
floating us money

VIDEO — Joe Mazumdar: Good vs. Bad Financings — What to Look for When Juniors Raise Money

Joe Mazumdar: Good vs. Bad Financings — What to Look for When Juniors Raise Moneyyoutu.be

Raising money is a key challenge for juniors in today's markets — and even when companies are able to secure funds, it's key to remember that not all financings are equal.

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Joe Mazumdar, editor of Exploration Insights, shared his thoughts on how investors can differentiate between good and bad financings.

Along with considerations like warrants, he told the Investing News Network that before buying shares of an exploration company it's a good idea to look at when it last went to market.

Keep reading...Show less

Teck Named to 2022 Best 50 Corporate Citizens in Canada

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") has been named to the Best 50 Corporate Citizens in Canada ranking as one of the top 50 companies in Canada for corporate citizenship. This marks the 16th consecutive year Teck has been named to the Best 50 by Corporate Knights.

"This acknowledgment is really a reflection of the dedication and passion of Teck's employees, who are focused on caring for people, communities and the environment in every aspect of their work," said Don Lindsay, President and CEO. "Teck is committed to being a positive corporate citizen while responsibly producing the materials needed to build a better quality of life for people around the world and support the low-carbon transition."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Cyprium Metals Ltd $16m Placement and $10m Non-renounceable Entitlement Offer

Perth, Australia (ABN Newswire) - Cyprium Metals Ltd (ASX:CYM) is pleased to announce a capital raising via a placement and a pro rata non-renounceable rights issue to raise up to approximately $26 million before costs.

HIGHLIGHTS

- Firm commitments received for a Placement to raise $16M at 11.5 cents per share

- Additional pro rata non-renounceable entitlement offer to raise up to $10M

o 1 new share for every 8 held on the record date at 11.5 cents per share
o Offer will be open to all eligible Cyprium shareholders

- Funds raised will place Cyprium in a strong financial position to continue progressing the development of the Nifty Copper Project

- Equity raise supports recently announced $50M Offtake Prepayment Facility with Glencore

- Advanced discussions are continuing with Senior Debt counterparties

Managing Director Barry Cahill commented:

"The Board is very appreciative of the strong support shown from current shareholders and is pleased to welcome a number of new investors to the register.

Cyprium has made significant advances in the past 15 months both in terms of increasing the mineral resource estimate but also particularly in the areas of SX/EW and infrastructure refurbishment, government approvals and metallurgical optimisation.

With the completion of this capital raising, Cyprium will be able to continue to advance the senior debt financing, with the finalisation of the funding package enabling our construction plans and the production of copper metal plate on site in the second half of 2023."

The Company has received firm commitments in respect of a placement to issue approximately 139.1 million new shares (Placement Shares) at 11.5 cents each (Offer Price) to raise $16 million (Placement) from sophisticated and institutional investors.

The Company is also pleased to announce a non-renounceable pro rata entitlement offer at the Offer Price of one (1) new share for every eight (8) shares currently held by eligible shareholders to raise up to $10 million (Entitlement Offer).

The new shares to be issued under the Entitlement Offer will be issued at the same price as the Placement Shares.

Use of Funds

The Placement and Entitlement Offer proceeds will be applied as part of the funding strategy to finance the restart of the Nifty Copper Project which will aim to provide a sustainable, secure, and stable supply of copper metal at 25,000tpa.

As announced on 27 June 2022, Cyprium has entered into an exclusive Letter of Intent (LOI) with Glencore International AG for $50 million in respect of a copper cathode offtake secured prepayment facility, as part of the debt financing package for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs. The LOI is a non-binding term sheet for both offtake arrangement and project funding and is part of the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project. The Company continues to advance discussions with senior debt providers who are undertaking due diligence activities and reviewing financing documentation.

Details of Placement

Pursuant to the terms of the Placement, the Company has agreed to issue approximately 139.1 million Placement Shares in the Company at the Offer Price of 11.5 cents per share to raise $16 million before costs, under the Company's existing placement capacity pursuant to ASX Listing Rule 7.1 (82,648,514 Placement Shares) and 7.1A (56,481,921 Placement Shares).

Subscribers for the Placement Shares will be entitled to participate in the Entitlement Offer.

Entitlement Offer

Under the Entitlement Offer, eligible shareholders will be able to subscribe for one (1) new ordinary share for every eight (8) existing fully paid ordinary shares held as at 5.00 pm (AEST time) on Friday, 8 July 2022 (Record Date) at the Offer Price.

The Offer Price represents a:

- 28.1% discount to last close on 27 June 2022;

- 19.6% discount to the 10-day VWAP up to and including 27 June 2022;

- 23.9% discount to the 15-day VWAP up to an including 27 June 2022; and

- 25.8% discount to the theoretical ex-rights issue price (TERP) to last close on 27 June 2022.

Cyprium will release a prospectus detailing the terms of the Entitlement Offer shortly, including details as to whether shareholders are eligible to participate in the Entitlement Offer and key risks (Prospectus). The Prospectus will include a personalised entitlement and acceptance form which will provide further details of how to participate in the Entitlement Offer.

Entitlements are non-renounceable and will not be tradeable on ASX or otherwise transferable. Shareholders who do not take up their entitlements will not receive any value in respect of those entitlements that they do not take up.

The Entitlement Offer will include a top up facility under which eligible shareholders who take up their full entitlement will have the opportunity to apply for additional shares from a pool of those not taken up by other eligible shareholders (Top Up Facility). In addition to the Top Up Facility, there will also be a general shortfall offer pursuant to which the Company may place any shares to non-eligible shareholders within three (3) months from the closing date of the Entitlement Offer.

Eligible shareholders should read the Prospectus carefully before making any investment decision regarding the Entitlement Offer. If you are in any doubt about the Entitlement Offer, you should consult your financial or other professional adviser.

Canaccord Genuity (Australia) Limited and Euroz Hartleys Limited are acting as Joint Lead Managers to the Placement. The fees payable to the Joint Lead Managers will be set out in further detail in the Prospectus.

Longreach Capital is acting as financial advisor and Steinepreis Paganin is acting as legal advisor to Cyprium.

*To view the capital structure post placement, please visit:
https://abnnewswire.net/lnk/009WA5D2



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

News Provided by ABN Newswire via QuoteMedia

[subscribe_company_profile use_post="101691698"]

Keep reading...Show less

Teck to Release Second Quarter 2022 Results on July 27, 2022

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") will release its second quarter 2022 earnings results before market open on Wednesday, July 27, 2022.

A webcast to review the results will be held as follows:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

First Quantum Provides Notice Of Second Quarter 2022 Results

First Quantum Minerals Ltd. ("First Quantum" or "the Company") (TSX: FM) will release second quarter 2022 financial and operating results on Tuesday, July 26, 2022 after the close of the Toronto Stock Exchange. The Company will host a conference call and webcast to discuss the results on Wednesday, July 27, 2022 at 9:00 am (EDT).

Conference call and webcast details:
Toll-free North America: 1-800-319-4610
Toll-free International: +1-604-638-5340
Webcast: www.first-quantum.com

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Teck Announces Carbon Capture Utilization and Storage Plant Pilot

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") today announced a Carbon Capture Utilization and Storage (CCUS) pilot project at its Trail Operations metallurgical complex in southern British Columbia. The CCUS pilot is expected to begin operation in the second half of 2023.

The CCUS pilot supports Teck's Net-Zero Climate Change Strategy including our goal to reduce the carbon intensity of our operations by 33% by 2030 and achieve net-zero emissions by 2050.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×