Base Metals

Los Andes Copper Announces Closing of C$10 Million Bought Deal Financing

Los Andes Copper Announces Closing of C$10 Million Bought Deal Financing

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") has announced today that it has closed its previously announced bought deal offering (the "Offering"). Pursuant to the Offering, Los Andes sold 800,000 common shares ("Common Shares") at a price of $12.55 per Common Share for aggregate gross proceeds of $10 million.

The Company intends to use the net proceeds of the Offering to advance the Vizcachitas Project, cover studies and drilling expenses and for working capital.

The Offering was completed pursuant to an underwriting agreement (the "Underwriting Agreement") dated January 25, 2023 among the Company and BMO Capital Markets (the "Lead Underwriter") and Paradigm Capital Inc. (together with the Lead Underwriter, the "Underwriters"). The Underwriters were paid a cash fee of 6% in respect of Common Shares sold by them in the Offering.

The Common Shares were offered by way of a prospectus supplement dated January 25, 2023 (the "Prospectus Supplement") to the short form base shelf prospectus dated January 9, 2023 (the "Base Shelf Prospectus"), which Prospectus Supplement was filed with the securities regulators in each of the provinces and territories of Canada, other than Quebec, as well as by way of private placement in the United States. Copies of the Prospectus Supplement, accompanying Base Shelf Prospectus and Underwriting Agreement are available under the Company's profile on SEDAR at www.sedar.com.

About Los Andes Copper Ltd.

Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing the Project, which is located along Chile's most prolific copper belt, into production. Vizcachitas is one of the largest copper deposits in the Americas not controlled by the majors and the Company believes it will be Chile's next major copper mine.

The Project is a copper-molybdenum porphyry deposit, located 120 kilometres north of Santiago, in an area of very good infrastructure. The Company's Preliminary Economic Assessment (the "PEA"), delivered in June 2019, highlights that the Project has a post tax NPV of $2.7 billion and an IRR of 26.7%, based on a $3.50 per pound copper price. It also has a Measured Resources of 254.4 million tonnes having a grade of 0.439% copper and Indicated Resource of approximately 1.03 billion tonnes having a grade of 0.385% copper. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to the technical report dated June 13, 2019, with an effective date of May 10, 2019 and titled "Preliminary Economic Assessment of the Vizcachitas Project", prepared by Tetra Tech.

The PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.

Qualified Persons

Antony Amberg CGeol FGS, the Company's Chief Geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release. The QP has validated the data by, supervising the sample collection process, through chain of custody records and inspecting the detailed technical data and quality control and assurance information.

For more information please contact:
Santiago Montt, Interim CEO
santiago.montt@losandescopper.com
Tel: +56 2 2954-0450

Elizabeth Johnson, Investor Relations
Elizabeth.johnson@losandescopper.com

E-Mail: info@losandescopper.comor visit our website at: www.losandescopper.com
Follow us on twitter @LosAndesCopper
Follow us on LinkedIn Los Andes Copper Ltd

Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward- Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward- Looking Information. Such Forward Looking Information includes, without limitation, the proposed use of proceeds of the Offering and the prospects, details related to and timing of the Vizcachitas Project. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.

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.

Not for distribution to U.S. news wire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152905

News Provided by Newsfile via QuoteMedia

LA:CA
The Conversation (0)
magin torres

Los Andes Copper


Keep reading...Show less
Los Andes Copper Announces Positive PFS for Vizcachitas with a US$2.77 Billion Post-Tax NPV and 24% IRR

Los Andes Copper Announces Positive PFS for Vizcachitas with a US$2.77 Billion Post-Tax NPV and 24% IRR

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to announce the results of a positive Pre-Feasibility Study ("PFS") at its 100% owned Vizcachitas Project ("Vizcachitas" or the "Project"), a world class porphyry copper project, located 150 km north of Santiago. The PFS has been prepared by Tetra Tech Sudamérica S.A, a leading international engineering firm. A conference call and webcast to discuss these results will be held on Friday, February 24, 2023, at 12.00 p.m. Eastern Standard Time. To register please contact loasandes@blytheray.com whereafter the webinar details will be sent to you. All values in this release are reported in US dollars.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Los Andes Copper Announces C$10 Million Bought Deal Financing

Los Andes Copper Announces C$10 Million Bought Deal Financing

Not for distribution to U.S. news wire services or dissemination in the United States.

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 800,000 common shares (the "Common Shares"), at a price of $12.55 per Common Share for gross proceeds of $10 million (the "Offering"). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The offering is expected to close on or about January 30, 2023 and is subject to Los Andes receiving all necessary regulatory approvals.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Los Andes Copper Announces Election to Issue Common Shares in Satisfaction of US$14 Million Convertible Debenture Interest Payment Obligations

Los Andes Copper Announces Election to Issue Common Shares in Satisfaction of US$14 Million Convertible Debenture Interest Payment Obligations

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") announces that in accordance with the terms of the US$5,000,000, US$4,000,000 and US$5,000,000 eight per cent convertible debentures issued to Queen's Road Capital Investment Ltd. ("Queen's Road Capital") on June 2, 2021, April 4, 2022 and September 2, 2022 (the "Convertible Debentures") the Company has elected to issue 10,172 common shares in the capital of the Company ("Common Shares") at a deemed price of US$10.28 (C$13.80) to Queen's Road Capital as payment for US$104,568 (C$140,304) in interest owing on the Convertible Debentures.

Under the terms of the Convertible Debentures, interest is payable quarterly, five per cent in cash and three per cent in shares, at the greater of: (i) the 20-day volume weighted average price prior to the interest payment date; or (ii) the Discounted Market Price (as such term is defined in the policies of the TSX Venture Exchange (the "TSX-V")).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Los Andes Copper Appoints Santiago Montt as Interim Chief Executive Officer

Los Andes Copper Appoints Santiago Montt as Interim Chief Executive Officer

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") advises that Santiago Montt has been appointed as the Interim CEO of the Company, effective November 1, 2022.

Mr. Montt previously served the Company as its COO, in which position he has been responsible for the Company's operations in Chile. Mr. Montt is a global mining executive with vast experience in leading teams in multinational mining companies. Prior to joining Los Andes, he spent over a decade at BHP overseeing corporate and legal affairs in the Americas, serving in different roles in Chile, Brazil, and Australia. His passion for the development of successful and responsible mining will continue to drive the Company's mission to maximize the value of the Vizcachitas Project for all its stakeholders.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Los Andes Copper Project Update

Los Andes Copper Project Update

Desalinated Water Agreement Advanced as Part of Pre-Feasibility Planning

 Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to report on progress on its Vizcachitas large-scale copper project in Chile. A letter of intent has been signed with Desala Petorca SPA to work on the project option to use desalinated seawater for the project ("Desala"). Desala is a firm dedicated to the development of water desalinization for water consumption and irrigation under a multi-purpose and multi-client scale. Desala is developing plans for a desalinated plant in the coast of Papudo, V Region, with a capacity of approximately 2,050 ltssec. The agreement with Desala advances an important option for the project consistent with sustainable mining for copper which is an essential metal for electrification.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heritage Mining Announces Early Issuance of Exploration Permit for Flagship Project Drayton Black Lake

Heritage Mining Announces Early Issuance of Exploration Permit for Flagship Project Drayton Black Lake

(TheNewswire)

Heritage Mining Ltd.

VANCOUVER, BC TheNewswire - March 24, 2023 Heritage Mining Ltd. (CSE:HML ) ( FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that the Ontario Ministry of Mines has issued the exploration permit required in connection with its 2023 drilling and additional exploration program on its flagship Drayton-Black Lake Project ("DBL") ahead of schedule. The program's primary focus will be to drill three priority targets at DBL.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD FILES FORM 40-F AND ANNUAL FILINGS

WESTERN COPPER AND GOLD FILES FORM 40-F AND ANNUAL FILINGS

Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) has filed its Annual Report on Form 40-F for the year ended December 31, 2022 with the U.S. Securities and Exchange Commission (the "SEC").

Western Copper And Gold logo (CNW Group/Western Copper and Gold Corporation)

The Company filed Form 40-F for the year ended December 31, 2022 with the SEC on March 23, 2023 . The Form 40-F includes Western's Annual Information Form ("AIF"), audited consolidated financial statements and management's discussion and analysis ("MD&A"). The Form 40-F is available for viewing and retrieval through EDGAR at www.sec.gov/edgar.shtml .

The Company has also filed its AIF, audited consolidated financial statements, and MD&A for the year ended December 31, 2022 with the appropriate Canadian regulatory bodies. These filings are available for viewing on SEDAR at www.sedar.com .

The filings described above are also available on the Company's website: westerncopperandgold.com/investors/forms . Western will also provide a copy of the filings to any shareholder, without charge, upon request. Requests may be made by email, telephone, or regular mail.

ABOUT Western Copper and Gold Corporation

Western Copper and Gold Corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Paul West-Sells"

Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. In making the forward-looking statements herein, the Company has applied certain material assumptions including, but not limited to, the assumption that general business conditions will not change in a materially adverse manner.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

SOURCE Western Copper and Gold Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2023/23/c4875.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Fabled Copper Announces Correction to News Release Dated March 22, 2023

Fabled Copper Announces Correction to News Release Dated March 22, 2023

Fabled Copper Corp. ("Fabled" or the "Company") (CSE:FABL)(FSE:XZ7) advises that the location of the VOLT 1 Property and VOLT 2 Property, referred to in its news release dated March 22, 2023 (the "News Release") was incorrect

The VOLT 1 Property and VOLT 2 Property are not located in the James Bay Lithium District and are not less than 4 kilometers to the west of Patriot Battery Metals (PMET.V) Corvette lithium project.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Green River Gold Corp. Announces Non-Brokered Private Placement Offering of Units Consisting of Flow-Through Shares and Warrants

Green River Gold Corp. Announces Non-Brokered Private Placement Offering of Units Consisting of Flow-Through Shares and Warrants

Green River Gold Corp. (CSX: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that it plans to undertake a non-brokered private placement of up to 3,600,000 units ("Units") to raise gross proceeds of up to $252,000.00 (the "Offering"). The Units will be offered at a price of $0.07, with each Unit consisting of one flow-through common share and one-half common share purchase warrant (each such whole warrant a "Warrant"). Each Warrant will be exercisable to acquire one common share (a "Warrant Share") for a period of 2 years following the closing of the Offering at an exercise price of $0.12 per Warrant Share, subject to the acceleration provisions set out below.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
FPX Nickel Announces Inclusion in New Sprott Asset Management Nickel Miners ETF

FPX Nickel Announces Inclusion in New Sprott Asset Management Nickel Miners ETF

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has been included in the newly launched Sprott Asset Management LP Nickel Miners ETF (" NIKL "), a U.S.-listed ETF focused on nickel companies that are providing a critical mineral necessary for the clean energy transition.

FPX Nickel Corp. Logo (CNW Group/FPX Nickel Corp.)

"We are very pleased to have met the requirements for inclusion in the new Sprott Nickel Miners ETF, representing validation of our success in advancing our PFS-stage Baptiste Nickel Project in central British Columbia ," commented Martin Turenne , FPX's President and CEO. "Inclusion in this new nickel ETF has the potential to attract additional institutional investment into FPX and increase liquidity, as the ETF is expected to be an important benchmark for investors focused on nickel."

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia . Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling.  Since 2010, approximately US $28 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project. The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territory of Tl'azt'en Nation and Binche Whut'en First Nation, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of our agreements with the Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2023/23/c5433.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Aranjin Resources Provides Shareholder Update

Aranjin Resources Provides Shareholder Update

Aranjin Resources Ltd. (TSXV: ARJN) ("Aranjin") provides a shareholder update on its Mongolian projects.

The Company had a relatively quiet fourth quarter in 2022 as it considered plans for an active drilling campaign in 2023 and it has been speaking to existing shareholders and strategic investors concerning potential capital solutions for the upcoming year.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×