Precious Metals

(TheNewswire)



Green, Clean, Reduce, Reuse, Recharge!

TheNewswire - May 20th, 2021 - Green Battery Minerals Inc. ( TSXV:GEM ) ( FSE:BK2P ) ( WKN:A2QENP ) ( OTC:GBMIF ) ("Green Battery" or the "Company") is pleased to announce it is moving closer to completing the Company's planned Preliminary Economic Assessment ("PEA") on its road accessible "Berkwood Graphite Project, Northern Quebec," with today's announced plans to issue up to a total of 2,037,000 flow-through units at a price of $0.25 for gross proceeds of $ 509,250 .  Each unit will consist of one flow-through common share and 12 warrant, each whole warrant exercisable for one common share at a price of $0.50 for a period of two years. The Company will apply to the TSX-Venture to close and issue the securities.

Finder fees and commissions may be paid by the Company in accordance with the policies of the TSX-Venture Exchange.

The closing of the private placement is subject to TSX Venture Exchange approval.

The proceeds from the issuance of the flow-through shares will be used for Canadian exploration expenses and will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada), which will be renounced to the subscribers with an effective date no later than Dec. 31, 2022, to the initial purchasers of the offered securities in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares, as applicable, and, if the qualifying expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the qualifying expenditures as agreed.

Net proceeds will be used for costs associated with the continued exploration/drill program and reports for a planned PEA for the Berkwood Graphite project.

The securities to be issued will be legend with the required four months plus one day hold period from issuance.

The goal is to move towards creating a PEA which is in our path forward as laid out in the Company's News Release of April 19 th , 2021.

The Company confirms there is no material fact or material change related to the Company which has not been generally disclosed.

The purpose of a PEA is to evaluate a mineral project's potential economic viability.

A preliminary economic assessment, (PEA), is defined as a study that includes a preliminary economic analysis of the potential viability of a project's mineral resources. Preliminary economic assessments are completed before prefeasibility and feasibility studies and are an important step towards feasibility which helps determine whether a company should consider developing a mineral resource project.

Before a mineral resource project becomes a mine, several technical studies must be completed on a deposit to ensure its economic viability. As mentioned, putting a PEA together is one of the first steps in the evaluation process, with prefeasibility and feasibility studies following.

Generally, PEAs will include base case information on the estimated capital costs associated with bringing a project into production, an estimate of how the mine will operate once it is built, how much metal/minerals it will produce and at what operating cost. The PEA helps the Company understand risks and uncertainties associated with a project. The study can be part of exploration with both open-pit mining and underground mining and should include a mine plan.

More specifically, a PEA tends to have information on pre-production capital costs, life-of-mine sustaining capital, mine life and an estimate of projected cash flow, as well as details on processing and production methods and rates.

PEAs also include information on mineral project economics at various metal/mineral prices.  This will include an estimate NPV (Net Present Value) of the mine and an estimated IRR (Internal Rate of Return).

PEA allows for companies to help predict an estimated potential profit margins, which help determine their NPV.

Tom Yingling, President and CEO state s, "We are very pleased to move closer to the planned PEA.   Neighbouring Graphite companies in Quebec have significantly higher market cap then Green Battery and management feels it is due to a lack of a positive PEA.  By moving forward with the financing, it should allow the Company to proceed with a much larger drill program this Summer which helps move closer to the planned PEA.  The upcoming drill program will consist of infill and step out drilling to potentially expand the already proven resource on Zone 1, which to date has only been drilled approximately 20 percent. In addition, we plan on drilling our separately located Zone 6.  The Company has already confirmed that Zone 6 contains Graphite as it has been channel sampled numerous times at surface and it has produced high grade, large flake graphite.  The Zone 6 Geophysical anomaly, that has been proven ac curate by channel sampling, also implies a large Graphitic body at surface.  This reconfirms our mission to repeat what Mason has done, just on our side of the claim boundary line that we share with Mason."

Qualified Person: Mr. Dave Kelsch, P.Geo. is a Qualified Person as defined by National Instrument 43-101 guidelines, and he has reviewed and approved the technical content of this news release.

About the Company: Green Battery Minerals is managed by a team with over 150 years collectively with a proven track record of not just finding numerous mines but building and operating them too. The Green Battery Mineral management team's most recent success is the discovery of the Berkwood Graphite resource in Northern Quebec. Green Battery Mineral owns this asset 100 percent and the Company's shareholders should benefit from this asset as the demand for Graphite for electric vehicles increases significantly.

On Behalf of the Board of Directors

Green Battery Minerals Inc.

‘Thomas Yingling'

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:

Investor Relations:

or 1-604-343-7740

info@greenbatteryminerals.com www.greenbatteryminerals.com

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management.  Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.

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

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

Yamana Gold Provides Notice of Second Quarter 2022 Results

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or "the Company") will release its second quarter 2022 operational and financial results after the market closes on Thursday, July 28, 2022, Eastern Daylight Time ("EDT"). The Company will then host a conference call and webcast to review the results on Friday, July 29, 2022 at 9:00 a.m. EDT.

The Company also plans to provide a pre-release of production for the second quarter with a further update on certain optimizations and project advancements on or around Thursday, July 7, 2022.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
gold coins and us money

VIDEO — Will Rhind: Upside Favors Gold; Strong US Dollar Checking Gains for Now

Will Rhind: Upside Favors Gold; Strong US Dollar Checking Gains for Nowyoutu.be

Strength in the US dollar is keeping the gold price in check right now, but that won't last forever.

Speaking to the Investing News Network, Will Rhind, CEO of GraniteShares, said the yellow metal is in a good position given market conditions and looks set to strengthen moving forward.

"(Gold has) really managed to shrug off a lot of the negatives around rising rates and a strong dollar, and I think people have got to ask themselves, 'How much more can the dollar strengthen from here? ... Realistically is there more upside for the dollar here, or for gold?' I think clearly I'm in the camp of favoring gold on that one," he said.

Keep reading...Show less
12 Largest Producers of Gold by Country (Updated 2022)

12 Largest Producers of Gold by Country (Updated 2022)

The gold price has tracked higher in the past few years, sparking interest in the biggest producers.

The precious metal’s price gains have come along with the uncertainty born from the global economic impact of the COVID-19 outbreak, as well as geopolitical turmoil.

These circumstances have left investors seeking safe-haven assets like gold. So far gold production levels have seemed to defy pandemic disruptions, but rising inflation is likely to push up costs for miners.

Keep reading...Show less

AGNICO EAGLE PROVIDES NOTICE OF RELEASE OF SECOND QUARTER 2022 RESULTS AND CONFERENCE CALL

Stock Symbol: AEM (NYSE and TSX)

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (" Agnico Eagle " or the " Company ") today announced that it will release its second quarter 2022 results on Wednesday, July 27, 2022 after normal trading hours.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
gold bars

VIDEO — Kal Kotecha: Gold Price Holding Up Well, Time to Watch for Buying Opportunities

Kal Kotecha: Gold Price Holding Up Well, Time to Watch for Buying Opportunitiesyoutu.be

Gold's performance has disappointed some market participants this year, but according to Dr. Kal Kotecha of Junior Gold Report, the yellow metal is holding up well compared to other assets.

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Kotecha said that looking back over the last 20 years, gold has outperformed major indexes like the S&P 500 (INDEXDJX:.DJI).

"A lot of people want to see gold at US$5,000 and US$10,000 (per ounce), kind of like how bitcoin rose quite a bit. But gold is a different beast in itself," he said. "So in my opinion gold is doing well."

Keep reading...Show less

Kinross provides update on Great Bear project and U.S. projects

(All dollar amounts are expressed in U.S. dollars, unless otherwise noted.)

Kinross Gold Corporation (TSX:K; NYSE:KGC) ("Kinross" or the "Company") is pleased to provide an update on its Red Lake, Ontario-based Great Bear project, as well as its Manh Choh project in Alaska and Curlew exploration project in Washington State.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×