Nuvau Minerals (TSXV:NMC) revitalizes critical mineral production in Quebec with its flagship project, the Matagami Mining Camp, which represents a premier opportunity in the Abitibi Greenstone Belt.
Quebec's Abitibi Greenstone Belt is renowned for its high-grade deposits and significant production history and is recognized as a Tier 1 jurisdiction with exceptional mining infrastructure and skilled labor. Nuvau Minerals has an agreement to acquire the Matagami Mining Camp from Glencore. The camp has a rich mining history with 60 years of production and nearly 60 million tons mined across 12 past mines.
Aerial view of the Matagami Mining CampThe Matagami Mining Camp covers over 1,300 square kilometers, comprising more than 2,500 claims. The property offers exceptional exploration potential for critical minerals, particularly zinc and copper. The Matagami Mining Camp has produced nearly 60 million tons of ore over 60 years of continuous operation.
The property features a 3,000-ton-per-day concentrator, last operated by Glencore in 2022. This infrastructure not only reduces the capital requirements for reactivation but also accelerates the timeline for potential production. Extensive geological and operational data inherited from Glencore provides a strong foundation for efficient exploration and development.
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Nuvau Minerals offers a compelling investment opportunity with an aggressive strategy to revitalize a prolific, past-producing mining camp in Quebec, a globally recognized Tier 1 jurisdiction.
Nuvau Minerals (TSXV:NMC) is a Canadian metals exploration company focused on revitalizing critical mineral production in Quebec. The company’s flagship project, the Matagami Mining Camp, represents a premier opportunity in the Abitibi Greenstone Belt, which is renowned for its high-grade deposits and significant production history.
Quebec's Abitibi Greenstone Belt is globally recognized as a Tier 1 jurisdiction with exceptional mining infrastructure and skilled labor. Nuvau Minerals has an agreement to acquire the Matagami Mining Camp from Glencore. The camp has a rich mining history with 60 years of production and nearly 60 million tons mined across 12 past mines.
The Matagami Camp spans over 2,500 claims across 1,300 square kilometers. Its strategic location, combined with existing infrastructure, like a 3,000-ton-per-day concentrator, positions Nuvau for cost-efficient reactivation and exploration. The company’s exploration efforts will focus on critical minerals, mainly zinc and copper, to address the growing global demand for these essential resources.
Nuvau Minerals is led by a team of seasoned professionals with extensive experience in the mining industry.
Aerial view of the Matagami Mining Camp
The Matagami Mining Campis Nuvau Minerals’ cornerstone asset and a critical part of the company’s strategy to revitalize mining operations in Quebec’s Abitibi Greenstone Belt. Covering over 1,300 square kilometers and encompassing more than 2,500 claims, the property offers exceptional exploration potential for critical minerals, particularly zinc and copper. Historically, the Matagami Mining Camp has produced nearly 60 million tons of ore over 60 years of continuous operation.
The property features a 3,000-ton-per-day concentrator, last operated by Glencore in 2022. This infrastructure not only reduces the capital requirements for reactivation but also accelerates the timeline for potential production. Extensive geological and operational data inherited from Glencore provides a strong foundation for efficient exploration and development.
Nuvau’s exploration efforts include leveraging advanced geophysical surveys, including MobileMT and drone magnetic surveys, to map conductive anomalies indicative of potential massive sulfide mineralization. Geological mapping, surface sampling and 3D structural modeling have been initiated to delineate priority zones. A robust drilling campaign is planned at the Caber, Caber Nord and PD1 deposits to validate historical data, upgrade resources, and identify new mineralization. Additionally, metallurgical studies and geochemical analysis will be conducted to optimize resource evaluation and processing methodologies.
MobileMT surveys have identified high conductivity anomalies, indicative of potential massive sulfide mineralization, while drone magnetic surveys have refined structural interpretations critical for drill planning. Initial results from drilling programs on some of these targets, confirm the presence of zinc-rich massive sulfides.
Nuvau Minerals has outlined an ambitious exploration and development strategy to maximize the potential of the Matagami Camp. Future work will include the expansion of the ongoing drilling program to test high-priority targets identified. The drilling campaign will incorporate advanced downhole geophysics to refine drill targeting.
Detailed metallurgical testing and ore characterization studies will be conducted to enhance processing efficiency and recoveries for zinc and copper concentrates. Environmental baseline studies will be expanded to support future permitting requirements, ensuring compliance with Quebec’s regulatory standards.
Additionally, modern data integration techniques, such as machine learning applied to geochemical and geophysical datasets, will aid in refining exploration targets across the broader property. These efforts will be supported by ongoing community engagement initiatives to secure stakeholder support and address social and environmental considerations.
Christina McCarthy is a geologist with over 15 years of experience in the resource capital markets. She is the former president and CEO of Paycore Minerals, which was acquired by i-80 Gold Corp for a $90 million valuation. Previously, she was vice-president of corporate development for New Oroperu Resources, acquired by Anacortes Mining in 2021. McCarthy also served as director of corporate development for McEwen Mining from 2014 to 2019. She has held various management and board roles, including positions in equity research at Euro Pacific and institutional sales at Haywood Securities. Prior to entering the resource capital markets, she managed exploration programs in Scandinavia for a junior exploration company. McCarthy holds a Bachelor of Science in geology.
Peter van Alphen has over 25 years of experience in leadership roles within the mining industry, encompassing all aspects from construction projects to production. Most recently, he served as the chief operating officer at Premier Gold Mines, managing the company’s mining and development endeavors. Prior roles include country manager for Canada at Pan American Silver, vice-president of operations at Tahoe Resources and Lake Shore Gold, and various management positions at FNX Mining in Sudbury, Ontario. Van Alphen holds a Bachelor of Science in mining engineering from the University of the Witwatersrand.
Steve Filipovic is a chartered professional accountant with more than 23 years of financial management and oversight experience. He was a founding executive team member and chief financial officer at Premier Gold Mines, playing an integral role in transitioning the company from explorer to producer until its acquisition by Equinox Gold in 2021. Prior to that, he served as chief financial officer of Zinifex Canada and was vice-president, finance of Wolfden Resources, until its acquisition by Zinifex in 2007. Filipovic holds an Honours Bachelor of Commerce Degree from Lakehead University and is an ICD.D designated member of the Institute of Corporate Directors.
Gilles Roy is a highly skilled geologist with over 30 years of experience in mineral exploration across various countries, including Canada, Peru, Chile, Kazakhstan, Australia and Burkina Faso. Specializing in base metal deposits in volcanic host rocks, he spent much of his career at Glencore, leading exploration programs that resulted in the discovery of the McLeod deposit in 2004 and the Bracemac deposit in 2006. Roy holds a Bachelor of Science in geology from Université du Québec à Montréal and is a member of the Ordre des géologues du Québec.
Ewan Downie is a successful company builder and entrepreneur with over 25 years of experience in the mining industry. He currently serves as the chief executive officer of i-80 Gold. Previously, he was the president and CEO of Premier Gold Mines, and is now serving as non-executive chairman and director of Wolfden Resources, as well as a director of Clean Air Metals. Throughout his career, Downie has been part of several gold and base metal discoveries, earning recognition for his achievements, including being awarded the 2003 Prospectors and Developers Association of Canada’s “Bill Dennis Prospector of The Year.”
Michael Vitton served as the executive managing director and head of US equity at BMO Capital Markets, where he was instrumental in originating and executing over US$200 billion worth of public and secondary offerings and M&A transactions across all sectors. In the metals and mining sector, he has been involved in numerous significant deals as a seed investor, lead/co-lead underwriter, or in an M&A capacity. Vitton holds a degree from the University of Michigan Business School and has served as a seat holder on the NYSE, and president of the New York Society of Metals Analysts.
More than 2,000 gold grains per 10kg of material
Nuvau Minerals Inc. (TSXV: NMC) (the "Company" or "Nuvau"), is pleased to share a highlight from its fall 2023 sonic drilling program at the Matagami Mining Camp that has delineated an exciting new gold target on the Company's large-scale property.
"This anomaly is of prime significance as potential evidence of an eroded gold occurrence, likely located within a kilometre north-east of the hole collar," said Peter van Alphen, President and CEO. "The Matagami camp has a long history of base metal mining, and yet the property's location in the Abitibi also makes it a prime location for gold mineralisation. At over 2,000 grains of gold per 10kg of material, this is an anomaly of regional significance, likely higher than any previous results known in the Abitibi. The Borden Gold Mine in Chapleau was discovered through the same means of mapping overburden till anomalies, and the highest concentration seen in that case was only about 800 grains per 10kg."
About the 2023 Sonic Drill Program at the Matagami Property
Following a successful proof-of-concept survey conducted in spring 2023, a first phase of a property scale overburden drilling program was conducted on the Matagami property, approximately 30 kilometres to the west of the Matagami Mill complex, in late 2023. The sonic drill program consisted of 24 holes totaling 726 metres of core and was conducted to evaluate the potential dispersion of gold and base metal minerals in glacial sediments buried underneath the Ojibway clay belt. Part of the survey was aimed at confirming a gold-in-till anomaly first detected by Newmont Mining in 1987.
The Matagami Property is located in a part of the northern Abitibi greenstone belt that is host to numerous gold and base metal mines, however, very little effort was previously focused on the gold potential of this large property. Canada's largest producing gold mine, Agnico's Detour Mine, is located on-trend to the west (see figure 2). The Casa Berardi Mine is located to the southwest of the Matagami Property and was discovered through a combination of geological exploration techniques, including prospecting based on regional geological mapping, airborne geophysical surveys, and subsequent ground-based exploration including soil and till sampling.
A total of 151 samples of glacial sediments were collected and submitted for gold grains and indicator mineral counting with the use of automated ARTGold technology by IOS Geosciences from Saguenay, QC, plus multi-element chemical analysis of the fine fraction (-170 um) of the sediments. A total of 9 samples are deemed anomalous, with gold grain counts in excess of 30 grains per 10kg of material.
Hole PD-23-030s - Of these, one sample from hole PD-23-030s produced a notable gold grain anomaly. The anomaly was detected at depth between 29.26 to 29.87 metres in the overburden (sample 155320186), and featured more than 2,000 gold grains per 10 kg of material. In addition, a near-contiguous sample with 295 gold grains per 10 kg of material between 31.12 to 32.00 metres (sample 155320187) was also encountered. The interval between these two samples consisted of a large locally derived boulder.
The bulk of these gold grains bear very delicate (pristine) form, with enshrined silicate minerals, suggestive of minimal glacial transport. No chemical anomalies and no abnormal abundance of indicator minerals were detected.
Pebbles in these samples consist uniquely of andesitic basalts, along with a significant proportion of quartz veins fragments. This suggests the presence of an auriferous quartz vein system invading the meta-andesite, believed to possibly be within a kilometre to the north-east of the collar.
This anomaly is located approximately 5 metres above the bedrock, meaning it has been displaced by glacial movement. Since no previous drilling or outcrop is available in the north-east up-ice direction, displacement cannot be accurately estimated.
Additional analysis is still required to understand the follow-up action required, however; a second-order structure highlighted by a VTEM geophysical anomaly beside a high-gravity distinct anomaly is present 2 kilometres in this direction, which is tentatively suggested as potential source and is currently considered as a priority diamond drill target.
Figure 1 : Nuvau's Matagami property, General Location
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Figure 2: Matagami Property Location relative to the gold producers of the region. Results from adjacent property(ies) are not necessarily indicative of the mineralization on Nuvau's property.
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Figure 3: Location of hole PD-23-030s with airborne gravity map (color) and VTEM pick (black dots)
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Figure 4: Mosaic of backscattered electron images of gold grain. Notice the delicate textures and silicate attachments. LEFT: Image of 230 gold grains found in sample 155320186, hole PD-23-030s, RIGHT: Image of 112 gold grains found in adjacent sample 155320187.
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Figure 5: (Left) Pebble composition of sample 155320186 showing 2,000 grains of gold per 10kg, and (right) section of Hole PD-23-030s indicating samples 155320186 and 155320187 (shown as 20186 and 20187 for brevity).
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About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
Qualified Person and Quality Assurance
Gilles Roy, P. Geo. (Qc), Director of Exploration of Nuvau and a "qualified person" as is defined by National Instrument 43-101, has verified the scientific and technical data disclosed in this news release, and has otherwise reviewed and approved the scientific and technical information in this news release.
Core has been quicklogged on drilling site and shipped by truck to IOS facilities in Saguenay for detailed logging and sampling by a qualitifed quartenary geologist. Hole core from selected intervals has been bagged and queued for processing in the same facility, where samples were sifted and gold grain concentrated with a proprietary fluidized bed. Concentrates were then dry sifted at 50 μm, the +50 μm being examined under optical microscope while -50 μm being scanned by automated electron microscope. Every suspected gold grain has been analysed by Energy Dispersive X-Ray Spectrometer (EDS) and high magnification back-scattered images have been acquired in order to classify morphology. Quality control is ensured via various mass balance calculations and EDS analysis of all grains of interest, prior to results being cross-examined by experienced geologists. In the course of sifting, an aliquot of the sample has been saved and shipped for analysis to Activation Laboratories in Ancaster, Ontario, for ICP-MS-QQQ ultra-trace analyses after aqua-regia digestion. Quality control has been conducted by a certified chemist and includes approximately 15% blanks, certified reference materials and internal reference materials.
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-Looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning drill results relating to the Matagami Property, the results of the PEA, the potential of the Matagami Property, the timing and commencement of any production, the restart of the Bracemac-McLeod Mine, the completion of the earn-in of the Matagami Property and the timing and completion of any technical studies, feasibility studies or economic analyses. Forward-Looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Matagami Property. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.com
Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243224
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Nuvau Minerals Inc. (TSXV: NMC) (" Nuvau " or the " Company ") is pleased to announce that it has changed its financial year-end from September 30 to December 31 . The change in financial year-end has been made to align the financial year-end of the Company with that of its operating subsidiary following completion of the reverse takeover transaction with Nuvau Minerals Corp. on December 12, 2024 . With this change, the Company's current financial year will end December 31, 2025 .
Further details regarding the change in year-end, including the Company's interim reporting periods, will be available in the Company's notice of change in year-end (the " Notice of Change ") required under Section 4.8 of National Instrument 51-102 – Continuous Disclosure Obligations , which will be filed under the Company's SEDAR+ profile at www.sedarplus.ca .
About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
For more information go to our website www.nuvauminerals.com .
Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Disclaimer & Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, " forward-looking statements ") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the Notice of Change. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Nuvau Minerals Inc.
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Visit Nuvau Minerals Corp. (TSXV: NMC) at Booth #2349 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025.
About Nuvau Minerals Corp.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.For more information go to our website www.nuvauminerals.com.
About PDAC
The World's Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 26,000 attendees in person in 2024, participants could also attend programming, courses and networking events.
The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world's mineral industry.
For more information and/or to register for the conference please visit: https://www.pdac.ca/convention.
We look forward to seeing you there.
For further information:
Nuvau Minerals Corp.
Kimberly Darlington
514-771-3398
kimberly@refinedsubstance.com
https://nuvauminerals.com/
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Nuvau Minerals Inc. (TSXV: NMC) ("Nuvau" or the "Company") is pleased to announce that the Company will be participating in two conferences over the next month: the BMO Global Metals, Mining, and Critical Metals Conference and the Prospectors and Developers of Canada Conference (PDAC). The focus at both will be meeting with existing shareholders and new investors to talk about progress at Nuvau's Matagami Project in Québec.
"Nuvau is participating in these conferences to share our story with a broader audience," said Peter van Alphen, the Company's Chief Executive Officer. "We are looking forward to providing current and new investors with a deeper insight into the Matagami opportunity, including the exploration potential for base metals and gold on this large land package in the Northern Abitibi, as well as the rare opportunity to bring this property back into production in the near term. If you are attending either of these events, please schedule a one-on-one meeting with us or stop at our booth to speak with our team."
The Matagami Opportunity
The Matagami Mining Camp represents a compelling investment opportunity. Located in the northern Abitibi Greenstone belt in the province of Québec, the Matagami property is in the heart of a region that boasts a history of significant mineral endowment. The exploration potential of the Matagami property is substantial, with over 1,300 km² of highly prospective ground in a region renowned for its base and precious metal deposits.
In addition to the exploration potential, mineral resources have been identified on the property including three deposits collectively referred to as the Caber Complex. These resources represent a potential mine life of nearly 10 years as determined in the PEA prepared by Nuvau.
The property is also unique in the region as it includes extensive existing infrastructure including a permitted, 3,000 tonne per day, processing plant, and the permitted past-producing Bracemac McLeod Mine. This infrastructure will significantly reduce initial capital requirements if the Company reaches the point of restarting production.
About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
For more information go to our website www.nuvauminerals.com.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.com
Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Disclaimer & Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-Looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the Agreement. Forward-Looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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Nuvau Minerals Inc. (TSXV: NMC) ("Nuvau" or the "Company") is pleased to announce that it has entered into a market maker agreement dated January 9, 2025 (the "Agreement") to retain Ventum Financial Corp. ("Ventum"), at its principal offices in Vancouver, British Columbia to provide market making services (the "Services") in accordance with Policy 3.4 - Investor Relations, Promotional and Market-Making Activities of TSX Venture Exchange (the "Exchange").
Ventum is a full-service registered investment dealer head-quartered in Vancouver, British Columbia and Toronto, Ontario, with offices across Canada. Ventum will trade the securities of Nuvau on the Exchange for the purposes of maintaining an orderly market. In consideration of the Services provided by Ventum, the Company will pay Ventum a monthly cash fee of $5,000, to be pro-rated for any period that is less than one full month, plus any applicable taxes. It is anticipated that the total costs of the Services to the Company for the Term will be approximately $60,000, plus applicable taxes. Ventum will not receive common shares or options as compensation pursuant to providing the Services. The capital used for market making will be provided by Ventum.
Ventum's engagement will be for a minimum term of twelve months commencing on January 9, 2025 (the "Term"). After the first three months of the Term, the Company will have the right to terminate the Agreement for Services on seven days' written notice. Nuvau and Ventum are unrelated and unaffiliated entities. Ventum is the registered and beneficial holder of 237,740 compensation options of the Company. Ventum is the registered holder of 447,780 common shares and 223,890 warrants for the benefit of parties that are unrelated and unaffiliated with the Company.
About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
For more information go to our website www.nuvauminerals.com.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.com
Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Disclaimer & Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the Agreement. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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What other factors impacted the zinc market last year? Read on to find out.
In the first half of 2024, the zinc market reacted to fallout from Q4 2023 production cuts.
An oversupply situation that drove prices down at the end of 2023 forced operators to curtail output, as high costs made production unsustainable. However, these cuts had little effect, and by the end of the first quarter, aboveground supplies at London Metal Exchange (LME) warehouses had surged to over 270,000 MT.
That supply/demand backdrop provided opportunities for some companies — in early April, Canada's Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK) was able to strike a deal with Korea Zinc (KRX:010130) that will see Teck pay US$165 per MT for treatment charges — that's the lowest amount since 2021 and a 40 percent discount over 2023.
In Q2, a price run failed to maintain momentum, as the market lacked the fundamentals to sustain its rise.
“Risk-on investor buying led to a sharp rally in zinc prices in April and May, as bullish sentiment on future copper demand related to the energy transition and AI data centres boosted the LME basket of metals,” Helen O’Cleary, zinc market specialist with CRU Group, wrote to the Investing News Network at the time.
Higher zinc prices came alongside speculation of a US Federal Reserve interest rate cut and renewed hope that rule changes for the Chinese housing markets would boost zinc’s fortunes.
However, by the end of Q2, the Chinese housing market had failed to improve — in fact, the slowdown in the sector had accelerated, with the value of new home sales in July slipping 19.7 percent from the same period one year earlier.
A Fed rate cut also didn’t materialize, with the expectation of when it would happen pushed back to July and then September, when the central bank ultimately made a jumbo-sized 50 basis point cut.
Zinc price, H2 2024.
Chart via Trading Economics.
As H2 began, the price of zinc was US$2,928.50, slightly off its first-half high of US$3,139.50 set on May 21. The metal continued to decline as July wore, falling to its H2 low of US$2,581.50 on August 7.
The next two months saw zinc experience significant volatility. It reached a peak of US$2,943 on August 27, slipped back to US$2,712 on September 10 and then rebounded to a yearly high of US$3,198 on October 2.
Zinc remained rangebound above US$3,000 for much of Q4. It fell below that mark on November 8, but by November 25 it was once again trading above that level. Zinc ended the year at US$2,978.50 on December 31.
The most significant contributor to zinc's price rise in H2 was the lack of concentrate available to Chinese refiners, which are responsible for more than half the global supply of refined zinc. This resulted in increased competition, with some smelting operations reducing their treatment charges to under US$0 per MT.
Ultimately, 14 processors agreed to curtailments that would reduce their 2024 ore demand by nearly 1 million MT.
Despite the cuts, Reuters columnist Andy Home wrote at the end of August that the global refined zinc market was in surplus by 228,000 MT during H1, with much of that material finding its way to LME warehouses.
Also important in H2 were several large purchases of refined zinc from LME warehouses. Gains were fueled after 106,775 MT were removed from the LME network, leaving just 154,125 MT available, the lowest since November 2023.
At least some of the metal seemed destined for Trafigura, a leading trader and refiner of the metal, but the company declined to comment on the purchase. The move is reminiscent of Citi's (NYSE:C) zinc purchases from LME stockpiles during the second half of 2023 — the firm requested delivery of 40,000 MT of zinc at the time.
For now, the market remains weak on the demand side. More than half of refined zinc is used in the production of galvanized steel destined for the construction sector, which has been weak in China and Europe.
A raft of new stimulus measures in China have yet to affect the broader economy, and the country’s real estate sector is still reeling from the collapse of top construction firms.
Meanwhile, in Europe, the construction sector has been affected by the dual impact of high inflation and high interest rates. With the post-pandemic outlook coming into better balance, the industry is expected to rebound in 2025.
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Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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