Resource News

Los Andes Copper Ltd. (TSXV: LA) ("Los Andes" or the "Company") is pleased to report the closing and funding of the US$5,000,000Convertible Debenture issued to Queen's Road Capital Investment Ltd. (TSX: QRC) ("Queen's Road Capital") announced on August 25, 2022.

The Convertible Debenture has a five-year term, carries an eight per cent coupon and is convertible into common shares in the capital of the Company ("Common Shares") at a share price of C$16.75. The interest is payable quarterly, five per cent in cash and three per cent in shares (at the election of Los Andes), at the 20-day volume weighted average price prior to the interest payment date.

The proceeds received from this investment will be allocated towards, expansion drilling at the Vizcachitas copper project in Chile which is expected to commence soon, completion of the Vizcachitas project ("Vizcachitas" or the "Vizcachitas Project") pre-feasibility study, underway and for general corporate purposes.

The Convertible Debentures is subject to a four month hold period under Canadian securities laws expiring on January 3, 2023.

R. Michael Jones, CEO of Los Andes, commented: "Closing this financing allows us to immediately progress the project and target resource growth while completing our Pre-Feasibility Study, (PFS) which is anticipated in Q4 this year. Drilling will commence in the weeks ahead."

Warren Gilman, Chairman and CEO of Queen's Road Capital, said: "Queen's Road Capital sees Los Andes Copper as a rare opportunity with 100% owned world class copper asset. We look forward to the next steps in demonstrating the Company value."

The Company paid an establishment fee equal to 3% of the principal amount of the Convertible Debenture to Queen's Road Capital at closing of the investment. Following closing, the total investment in convertible debentures by Queens Road Capital into Los Andes Copper totals US$14,000,000, representing a total number of Common Shares, if converted, of 1,250,462 Common Shares.

About Queen's Road Capital Investment Ltd.

Queen's Road Capital is a leading financier to the global resource sector. The Company is a resource-focused investment company, making investments in privately held and publicly traded resource companies.

It is intended that the Queen's Road Capital will acquire and hold securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions.

Queen's Road Capital Investment Ltd. is listed on the TSX under the ticker: QRC.

About Los Andes Copper Ltd.

Los Andes Copper Ltd. is a development company with a 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing the Vizcachitas Project, which is located along Chile's most prolific copper belt, into production.

Vizcachitas is a copper-molybdenum porphyry deposit, located 120 km north of Santiago, Chile, in an area of good infrastructure. The National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") compliant report titled "Preliminary Economic Assessment of the Vizcachitas Project" (the "PEA"), dated June 13, 2019, prepared by Tetra Tech, highlights that the Vizcachitas Project has a post-tax NPV (8% discount rate) of approximately USD$1.8 billion and an IRR of 20.77%, based on a USD$3 per pound copper price. The Vizcachitas Project has a Measured Resource of 254.4 million tonnes at a grade of 0.439% copper and an Indicated Resource of approximately 1.03 billion tonnes at a grade of 0.385% copper. The PEA can be found on the Company's SEDAR profile at www.sedar.com.

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 President and CEO, is the qualified person under NI 43-101 who has reviewed and approved the scientific and technical information contained in this news release.

For more information please contact:

R. Michael Jones , P.Eng CEO
rmj@losandescopper.com
Tel: +44 203 4407982

BlytheRay, Financial PR
Megan Ray
Rachael Brooks
Tel: +44 207 138 3203

E-Mail: info@losandescopper.com or 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 use of proceeds from the issuance of the Convertible Debenture. 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135822

News Provided by Newsfile via QuoteMedia

LA:CA
magin torres

Los Andes Copper


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
Los Andes Copper Announces Election to Issue Common Shares in Satisfaction of US$9 Million Convertible Debenture Interest Payment Obligations

Los Andes Copper Announces Election to Issue Common Shares in Satisfaction of US$9 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 and US$4,000,000 eight per cent convertible debentures issued to Queen's Road Capital Investment Ltd. ("Queen's Road Capital") on June 2, 2021 and April 4, 2022 (the "Convertible Debentures") the Company has elected to issue 7,743 common shares in the capital of the Company ("Common Shares") at a deemed price of US$11.17 (C$14.39) to Queen's Road Capital as payment for US$86,489 (C$111,422) 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 Announces Further US$ 5 million Investment by Queen's Road Capital

Los Andes Copper Announces Further US$ 5 million Investment by Queen's Road Capital

Los Andes Copper Ltd. (TSXV: LA) ("Los Andes" or the "Company") is pleased to announce that it has entered into an agreement with Queen's Road Capital Investment Ltd. (TSX: QRC) ("Queen's Road Capital") whereby Queen's Road Capital will invest a further US$5,000,000 in Los Andes by way of an additional convertible debenture (the "Convertible Debenture").

The proceeds received from this capital raise will be allocated towards, expansion drilling at the Vizcachitas copper project in Chile which is expected to commence soon, completion of the Vizcachitas project ("Vizcachitas" or the "Vizcachitas Project") pre-feasibility study, underway and for general corporate purposes.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Los Andes Copper Announces Decision by the Environmental Court Reinstating Drilling Permit

Los Andes Copper Announces Decision by the Environmental Court Reinstating Drilling Permit

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to report that on July 20, 2022, the Second Environmental Court in Chile revised the preliminary injunction issued on March 18, 2022 that suspended drilling. The Court decided that drilling can continue, with certain restrictions, at the Vizcachitas Copper Project under the Company's environmental license.

Following the injunction, the Company prepared and filed with the Environmental Court several scientific reports, technical studies and legal opinions showing that the drilling program is compatible with the protection of the Andean Cat and the overall environment.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Los Andes Copper Announces Passing of Former Chairman

Los Andes Copper Announces Passing of Former Chairman

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") announces the passing of former Executive Chairman, Fernando Porcile. The Directors and employees of Los Andes Copper would like to extend their sincerest condolences to Fernando's family and friends.

Fernando's integrity and character were an example to many. His uncompromised commitment to doing the right thing, compassion and dedication represent an example to follow.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
World Copper Reports Annual General and Special Meeting Results

World Copper Reports Annual General and Special Meeting Results

Cancels and Grants Incentive Stock Options

World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0 ("World Copper") reports that its shareholders have approved all matters voted on at the annual general and special meeting held on September 27, 2022 (the "AGSM").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Emerita Intersects 14.0 Meters Grading 4.3% Copper Included Within 26.8 Meters Grading 2.6% Copper at La Romanera Deposit, Increases Number of Drills at IBW Project to Thirteen

Emerita Intersects 14.0 Meters Grading 4.3% Copper Included Within 26.8 Meters Grading 2.6% Copper at La Romanera Deposit, Increases Number of Drills at IBW Project to Thirteen

Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") is pleased to announce additional assay results from the 2022 delineation drilling at the La Romanera Deposit at its wholly owned Iberian Belt West project ("IBW" or the "Project"). IBW hosts three previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura. All deposits are open for expansion along strike and at depth. The Company also announces that it continues to accelerate drilling at IBW where it has increased the number of drill rigs from 10 to 13. Presently, there are 12 drills on La Romanera deposit delineation and 1 rig continues to drill at La Infanta. Six drilling companies are engaged in the program.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Romios Gold Completes IP-MT Survey on Trek South Target and Reports on 2022 Exploration Programs in The Golden Triangle, BC

Romios Gold Completes IP-MT Survey on Trek South Target and Reports on 2022 Exploration Programs in The Golden Triangle, BC

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that it has completed an extensive exploration program on six of the company's projects in the Golden Triangle of northwestern British Columbia (see Map 1). Field work by Romios' crew began in early July and continued until mid-September. Assay results are now being received and compiled, and will be reported on when complete. Field observations on some of the claim blocks are very encouraging, particularly those from the Trek South Porphyry Cu-Au-Ag prospect. Many of Romios' projects in the Golden Triangle are close to the giant Galore Creek porphyry Cu-Au-Ag project held by a Teck-Newmont JV (GCMC) and currently in the final stages of a pre-feasibility study.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Canada Nickel Provides Project Update and Announces US$10 Million Loan Facility

Canada Nickel Provides Project Update and Announces US$10 Million Loan Facility

Canada Nickel Company Inc. ("Canada Nickel" or "The Company") (TSXV: CNC) (OTCQB: CNIKF) is pleased to provide an update on the Crawford project and its financing activities.

Canada-Nickel-Company-Logo (CNW Group/Canada Nickel Company Inc.)

"The Company remains on track to deliver the feasibility study for Crawford by year-end. The study work is approximately 85% complete and the company is confident in its outcome.  This financing will allow us to execute post feasibility study work on permitting and detailed engineering that is advantageous for us to complete during the coming winter months and allows us to remain well-funded as we continue to aggressively advance the project" said Mark Selby , Chair and CEO of Canada Nickel.

Loan Facility

The Company has arranged a US$10 million loan facility with Auramet which is expected to close on or before October 14 , 2022.  The loan will be due January 14, 2023 , will carry an interest rate of 1.00% per month, and be subject to a 2% arrangement fee. At closing, Auramet will also receive 325,000 1-year warrants with a strike price of $1.52 per share.   The warrants and the underlying shares will be subject to a four month hold period under applicable Canadian securities laws.  The closing of the loan facility is subject to customary conditions including the approval of the TSX Venture Exchange.

About Auramet

Auramet is one of the largest physical precious metals merchants in the world with over $20 billion in annual revenues and provides a full range of services to all participants in the precious metals chain, from extraction and production to manufacturing and consumption. Auramet is a private company established in 2004 by a team who had worked previously together since 1989. Their business is comprised of three main activities: physical metals trading, metals merchant banking and advisory. Auramet has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector.   Auramet purchases tens of millions of ounces of gold, silver and PGMs sourced from a diversified base of mining companies, recycling companies and refineries/smelters.  Auramet has also provided term financing facilities in excess of $900 million to date in the mining sector and is looking to grow its capital investment business in the precious metals and battery-related metals mining space.  In 2022, Auramet received a Gold Metal Sustainability Rating from Ecovadis, a global leader in business sustainability ratings.

Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has successfully registered and applied for trademarks in various jurisdictions for NetZeroNickel™, NetZero Cobalt™ and NetZero Iron™ and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel and cobalt in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins - Cochrane mining camp. For more information, please visit www.canadanickel.com .

Contact:
Mark Selby , Chair and CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the metallurgical results, the timing and results of the feasibility study and the timing and completion of the loan facility. Readers should not place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The PEA results are estimates only and are based on a number of assumptions, any of which, if incorrect, could materially change the projected outcome. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable.

Although Canada Nickel has attempted to identify important factors that could cause actual actions,events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/canada-nickel-provides-project-update-and-announces-us10-million-loan-facility-301636152.html

SOURCE Canada Nickel Company Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/29/c2107.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Copper Fox Announces 2022 Third Quarter Operating and Financial Results

Copper Fox Announces 2022 Third Quarter Operating and Financial Results

Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") is pleased to announce that its unaudited interim consolidated July 31, 2022, financial statements have been filed on SEDAR.

For the nine months ended July 31, 2022, Copper Fox had a net loss of $889,829 (July 31, 2021 - $747,620) which equated to $0.00 loss per share (July 31, 2021 - $0.00 loss per share).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Pan Global Announces Drill Program on Eight Copper Targets in the Escacena Project, Spain

Pan Global Announces Drill Program on Eight Copper Targets in the Escacena Project, Spain

Pan Global Resources Inc. (TSXV: PGZ) (OTC Pink: PGNRF) ("Pan Global" or the "Company") is pleased to announce that drilling is underway at the Hornitos and La Jarosa targets and that multiple new targets have been identified for drill testing at the Company's 100%-owned Escacena Project in the Iberian Pyrite Belt, southern Spain.

Tim Moody, Pan Global President and CEO states: "Drilling has continued at Escacena with up to four drill rigs operating since January. The current plan includes testing at least six new targets in the Escacena Project in addition to continuing to expand the copper and tin mineralization at La Romana. We are excited at the potential to make further copper discoveries with drilling now initiated on several new targets, all within 5km of our near-surface La Romana copper-tin discovery. Ongoing exploration continues to generate multiple high-priority drill targets. Drilling is underway at the Hornitos and La Jarosa targets and is due to commence shortly at the Pilar, Zarcita and La Romana Deep targets. This is the first time most of the new targets will be drill tested. The fact that we are already seeing evidence of copper, lead and zinc mineralization in some of our first holes on new targets at Hornitos and La Jarosa is very encouraging with assay results awaited. Assay results are also pending for 14 drill holes at the La Romana discovery."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×