Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") is pleased to announce that it has entered into binding agreements (the "Purchase Agreements") to acquire seventeen (17) mineral concessions (the "Transaction") between the towns of Prado and Caravelas in the State of Bahia, Brazil totaling 15,089.71 hectares (approximately 37,300 acres or 58.3 square miles) (the "Bahia Project"). Read More >>
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![Release - Energy Fuels Secures Major Rare Earth Land Position in Brazil](https://investingnews.com/media-library/image.jpg?id=27863814&width=1200&height=801)
Release - Energy Fuels Secures Major Rare Earth Land Position in Brazil
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Energy Fuels Announces Q2-2024 Earnings Call Details
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) an industry leader in uranium and rare earth elements production for the energy transition, will hold a conference call on Monday, August 5, 2024, at 10:00 AM Mountain Time to discuss its financial results for the second quarter ended June 30, 2024.
Financial results will be issued in a press release prior to the call.
Energy Fuels Inc.'s management will host the conference call, followed by a question-and-answer session.
Conference call access with the ability to ask questions:
To instantly join the conference call by phone, please use the following link to easily register your name and phone number. After registering, you will receive a call immediately and be placed into the conference call
- Rapid Connect URL: https://emportal.ink/3zGXrxy
or
Alternatively, you may dial in to the conference call where you will be connected to the call by an Operator.
- North American Toll Free: 1-800-836-8184
To view the webcast online:
Audience URL: https://app.webinar.net/ypjlzr0BxKR
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- Conference Replay Toronto: 1-289-819-1450
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- Conference Replay Entry Code: 62571 #
- Conference Replay Expiration Date: 08/19/2024
ABOUT ENERGY FUELS
Energy Fuels is a leading US-based critical minerals company. The Company, as the leading producer of uranium in the United States, mines uranium and produces natural uranium concentrates that are sold to major nuclear utilities for the production of carbon-free nuclear energy. Energy Fuels recently began production of advanced rare earth element ("REE") materials, including mixed REE carbonate, and plans to produce commercial quantities of separated REE oxides in the future. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is evaluating the recovery of radionuclides needed for emerging cancer treatments. Its corporate offices are in Lakewood, Colorado, near Denver, and substantially all its assets and employees are in the United States. Energy Fuels holds two of America's key uranium production centers: the White Mesa Mill in Utah and the Nichols Ranch in-situ recovery ("ISR") Project in Wyoming. The White Mesa Mill is the only conventional uranium mill operating in the US today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant, as well as REE products, from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Company recently acquired the Bahia Project in Brazil, which is believed to have significant quantities of titanium (ilmenite and rutile), zirconium (zircon) and REE (monazite) minerals. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the US and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.
IperionX & Energy Fuels Progress Leading U.S. Rare Earth Collaboration
IperionX Limited (“IperionX” or “Company”)(ASX:IPX)IPX) is pleased to announce that Eneígy Fuels, Inc. (“Eneígy Fuels”) (NYSE: UUUU) (ľSX: EFR) has undeítaken laboíatoíy evaluation of íaíe eaíth mineíal concentíates fíom IperionX’s Titan Píoject in west Tennessee.
- Energy Fuels has completed laboratory evaluation of IperionX’s rare earth minerals, including monazite and xenotime, from the Titan Project in west Tennessee.
- Energy Fuels’ evaluation indicates that IperionX’s rare earth minerals are suitable as a high quality feedstock to supply Energy Fuels’ ongoing commercial production of mixed rare earth carbonate, an advanced material ready for rare earth separation.
- IperionX’s Titan Project contains a large amount of the light rare earths neodymium and praseodymium, as well as a significant distribution of the highly valuable heavy rare earths, terbium and dysprosium.
- The combination of IperionX’s heavy rare earth rich minerals in Tennessee, and Energy Fuels’ operating processing facilities in Utah, provides the potential to rapidly progress a fully integrated rare earth magnet supply chain in the U.S.
IperionX and Energy Fuels previously signed a memorandum of understanding for the supply of natural monazite sands fíom IperionX’s Titan Píoject in Tennessee to Energy Fuels’ White Mesa Mill in Utah (refer ASX announcement dated April 22, 2021). Energy Fuels and IperionX are continuing to evaluate expanding their collaboration to establish a fully integrated permanent rare earth magnet supply chain in the U.S.
Click here for the full ASX Release
This article includes content from IperionX, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Former Critical Minerals Leader from General Motors Joins Energy Fuels to Advance Rare Earth Business; Separated NdPr Now Being Packaged at Energy Fuels' White Mesa Mill
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels" or the "Company"), a leading U.S. producer of uranium, rare earth elements ("REEs"), and vanadium, is pleased to welcome Debra Bennethum to Energy Fuels' Management Team as Director, Critical Minerals & Strategic Supply Chain. Ms. Bennethum is a chemical engineer who previously served as the EV Critical Minerals Manager in the Global Purchasing and Supply Chain Division of General Motors ("GM"), and previously as the Program Purchasing Manager for GM's Battery Electric Vehicles and Crossovers division. At GM, Ms. Bennethum executed supply strategies to ensure resilient EV critical mineral supply chains, which included the REEs for production of permanent magnets as well as battery critical minerals. She also identified innovative suppliers, vetted technical merit, evaluated cost competitiveness, and led negotiations for long-term supply arrangements. She further managed over $1.5 billion in investment projects from conception to execution, collaborating with engineering and internal stakeholders to ensure resilient supply chains for GM.
Energy Fuels believes Ms. Bennethum's experience at General Motors will provide Energy Fuels with invaluable insight and experience to fill a critical role in the Company's REE sales and marketing enterprises, including cultivating relationships with original equipment manufacturer ("OEM") and other customers, negotiating supply, offtake and/or other agreements for the Company's REE products, evaluating REE collaborations in metal-making, alloying, and/or magnet-making, and assisting in evaluating, and potentially pursuing, government funding and other support.
MARK S. CHALMERS, PRESIDENT AND CEO OF ENERGY FUELS STATED:
"I would like to personally welcome Debra Bennethum to the Energy Fuels team. Ms. Bennethum brings a wealth of knowledge and relationships in EV and automotive supply chains to advance Energy Fuels' U.S.-leading, integrated rare earth business, which recently began commercial production of 'on spec' separated rare earths at our White Mesa Mill in Utah, USA. Ms. Bennethum will be based in Detroit, Michigan, which is the hub of the U.S. automotive industry. Having worked at GM for over 12 years, including key roles in EV, hybrid and critical mineral supply chains, we believe Ms. Bennethum is the ideal person to lead Energy Fuels' rare earth marketing efforts and collaborations, including the sale of our products to metal-makers, magnet-makers, EV and automotive OEMs, renewable energy companies, rare earth recycling companies, U.S. defense suppliers, and other customers. Ms. Bennethum is well-known throughout the rare earth industry, and we believe her decision to join Energy Fuels is a significant 'vote of confidence' in our rare earth plans going forward."
FINISHED AND PACKAGED SEPARATED NDPR AT ENERGY FUELS' WHITE MESA MILL
As previously announced on June 10, 2024, Energy Fuels has achieved commercial production of 'on spec' separated rare earth elements at its 100%-owned White Mesa Mill in Utah (the "Mill"), while simultaneously advancing uranium production. The Company's new "Phase 1" REE separation circuit has the capacity to produce roughly 850 to 1,000 metric tons ("tonnes") of separated neodymium-praseodymium ("NdPr") per year. It is the Company's belief that this is one of the largest commercial REE separation circuits in the World, ex China.
The Mill has begun drying and packaging separated NdPr, which is expected to continue through the end of the quarter. As previously announced, the Company expects to produce roughly 25 to 35 tonnes of 'on spec' separated NdPr in Q2-2024, before shifting operations to processing inventoried uranium ores and alternate feed materials for the remainder of the year. During the current REE campaign, the Mill will also produce a "heavy" REE concentrate, containing roughly 1,500 kilograms of dysprosium ("Dy") and 400 kilograms of terbium ("Tb"). The Company plans to utilize all or a portion of this "heavy" REE concentrate for pilot-scale test work to design, permit and construct commercial Dy, Tb and potentially other REE separation at the Mill in the coming years.
ABOUT ENERGY FUELS
Energy Fuels is a leading US-based uranium and critical minerals company. The Company, as a leading producer of uranium in the United States, mines uranium and produces natural uranium concentrates that are sold to major nuclear utilities for the production of carbon-free nuclear energy. Energy Fuels recently began production of advanced REE materials, including mixed REE carbonate in 2021, and commenced production of commercial quantities of separated REEs in 2024. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is evaluating the recovery of radionuclides needed for emerging cancer treatments. Its corporate offices are in Lakewood, Colorado, near Denver, and substantially all its assets and employees are in the United States. Energy Fuels holds two of America's key uranium production centers: the White Mesa Mill in Utah and the Nichols Ranch in-situ recovery ("ISR") Project in Wyoming. The White Mesa Mill is the only conventional uranium mill operating in the US today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant, as well as REE products, from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Company recently acquired the Bahia Project in Braziland entered into a joint venture agreement to develop the Donald Project in Australia, each of which is believed to have significant quantities of titanium (ilmenite and rutile), zirconium (zircon) and REE (monazite) minerals. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the US and several uranium and uranium/vanadium mining projects in production, on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.
Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based uranium and critical minerals company or as the leading producer of uranium in the U.S.; any expectation that the Company will be successful in cultivating relationships with OEM and other customers; any expectation that the Company will be successful in negotiating satisfactory supply, offtake and/or other agreements for the Company's REE products with metal-makers, magnet-makers, EV and automotive OEMs, renewable energy companies, rare earth recycling companies, U.S. defense suppliers, or other customers; any expectation that the Company will be successful in entering the REE metal, alloy, and magnet-making space; any expectation that the Company will be successful in obtaining government funding and other support for any of its activities; any expectation that the Company has one of the largest commercial REE separation circuits in the World, ex China; any expectation that the Company will be successful in designing, permitting and constructing commercial Dy, Tb and potentially other REE separation at the Mill in the coming years; any expectation as to production levels or timing or duration of production from any of the Company's mines, facilities or projects; any expectation as to costs of production at any of the Company's mines, facilities or other projects; any expectation that the Bahia and Donald Projects have significant quantities of titanium (ilmenite and rutile), zirconium (zircon) and REE (monazite) minerals; any expectation that the Company will be successful in advancing its REE initiatives or that it will be successful in installing REE production capacity at the Mill and the timing of installation of any such production capacity; and any expectation as to the success of the Company's permitting programs. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be 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 the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of feed sources for the Mill; competition from other producers; public opinion; government and political actions; the failure of the Company to provide or obtain the necessary financing required to develop any of its projects or initiatives; available supplies of monazite; the ability of the Mill to produce rare earth carbonate, rare earth element oxides or other rare earth element products to meet commercial specifications on a commercial scale at acceptable costs or at all; market factors, including future demand for uranium, rare earth elements and heavy mineral sand concentrates; the ability of the Mill to be able to separate radium or other radioisotopes at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company's website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.
Energy Fuels Announces Election of Directors
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") a leading U.S.-based critical minerals company, announces the results of the election of directors at its annual and special meeting of shareholders (the " Meeting ") held virtually on June 11, 2024 .
The ten (10) nominees proposed by management for election as directors were elected by the shareholders of the Company, through a combination of votes by proxy and electronic poll, as follows:
Nominee | Votes For | % For | Votes Withheld or | % Withheld or |
J. Birks Bovaird | 45,321,752 | 91.23 % | 4,358,256 | 8.77 % |
Mark S. Chalmers | 47,226,027 | 95.06 % | 2,453,981 | 4.94 % |
Benjamin Eshleman III | 47,674,386 | 95.96 % | 2,005,622 | 4.04 % |
Ivy V. Estabrooke | 47,119,198 | 94.85 % | 2,560,810 | 5.15 % |
Barbara A. Filas | 46,967,300 | 94.54 % | 2,712,708 | 5.46 % |
Bruce D. Hansen | 47,922,396 | 96.46 % | 1,757,612 | 3.54 % |
Jaqueline Herrera | 46,948,646 | 94.50 % | 2,731,362 | 5.50 % |
Dennis L. Higgs | 48,312,025 | 97.25 % | 1,367,983 | 2.75 % |
Robert W. Kirkwood | 47,763,461 | 96.14 % | 1,916,547 | 3.86 % |
Alexander G. Morrison | 48,511,981 | 97.65 % | 1,168,027 | 2.35 % |
About Energy Fuels : Energy Fuels is a leading U.S.-based uranium and critical minerals company. The Company, as a leading producer of uranium in the United States , mines uranium and produces natural uranium concentrates that are sold to major nuclear utilities for the production of carbon-free nuclear energy. Energy Fuels recently began production of advanced rare earth element (" REE ") materials, including mixed REE carbonate in 2021, and commenced production of commercial quantities of separated REEs in 2024. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is evaluating the recovery of radionuclides needed for emerging cancer treatments. Its corporate offices are in Lakewood, Colorado , near Denver , and substantially all its assets and employees are in the United States . Energy Fuels holds two of America's key uranium production centers: the White Mesa Mill in Utah and the Nichols Ranch in-situ recovery (" ISR ") Project in Wyoming . The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U 3 O 8 per year and has the ability to produce vanadium when market conditions warrant, as well as REE products, from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U 3 O 8 per year. The Company recently acquired the Bahia Project in Brazil and entered into a joint venture agreement to develop the Donald Project in Australia , each of which is believed to have significant quantities of titanium (ilmenite and rutile), zirconium (zircon) and REE (monazite) minerals. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects in production, on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com .
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Energy Fuels Achieves Commercial Production of 'On-Spec' Separated Rare Earths at its White Mesa Mill in Utah, While Simultaneously Advancing Uranium Production
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ( "Energy Fuels" or the "Company" ), a leading U.S. producer of uranium, rare earth elements (" REEs "), and vanadium, is pleased to announce that it has achieved commercial production of separated neodymium-praseodymium (" NdPr ") at its White Mesa Mill in Utah (the " Mill "). Critically, the NdPr produced by Energy Fuels' meets the applicable product specifications of REE metal-makers, who specialize in the manufacture of REE-based alloys required for the permanent magnets widely used for electric motors in both battery powered electric vehicles (" EVs ") and dual power hybrids. Further, this 'on-spec' NdPr is now able to be produced by Energy Fuels at the full design capacity of its new Phase 1 REE separation circuit (850 to 1,000 metric tons (" tonnes ") of NdPr per year). The Company expects to have commercial quantities of separated NdPr available for shipment by the end of June 2024 . Energy Fuels believes this is the first time in several decades that a U.S. company has produced on-spec separated REE's from monazite on a commercial scale.
The Company is extracting, refining and separating the NdPr from monazite produced by The Chemours Company (" Chemours ") at its heavy mineral sand (" HMS ") operations in Florida and Georgia . Energy Fuels began piloting REE separations in 2021, and later performed partial REE separations in 2022 and 2023. The Company used this experience, having compiled several years of real-time data, to custom design and construct its new Phase 1 REE separation circuit at the Mill, which is now operating as designed. The Company would also like to highlight both the speed at which the circuit has reached full design capacity, and the fact that it has not experienced complications with start-up, which are so typical with the commissioning of new equipment and processes. Energy Fuels also completed construction of its Phase 1 REE Separation Circuit in Q1-2024 for a total cost of only about $16 million, which was significantly under the original budget of $25 million and a further testament to the capabilities of the Mill and the years of solvent extraction (" SX ") experience and technical expertise of Mill personnel. Also of note, the addition of REE separation processes has not hindered the ability or capacity of the Company to produce uranium at the Mill, and preparations are being made to commence a uranium ore and alternate feed uranium-bearing material processing campaign in Q3-2024.
During Q2-2024, the Company expects to produce about 25 to 35 tonnes of on-spec, separated NdPr from the monazite Energy Fuels has in inventory at this time. From the new circuit, Energy Fuels also expects to produce a samarium-plus (" Sm+ "), "heavy" REE concentrate, while also recovering the contained uranium from the monazite feed stocks. The Company expects to utilize this Sm+ concentrate to continue pilot-scale dysprosium (" Dy ") and terbium (" Tb ") separation and to design SX circuits at the Mill able to produce these "heavy" REE products in separated individual forms at the specifications required for metal and alloy making. Currently, there is no company in the Western Hemisphere capable of commercially producing separated, on-spec Dy, Tb, or other "heavy" REE products. NdPr, Dy, and Tb are known as the "magnet" REE's, as they are key and necessary ingredients in the powerful magnets used in the most efficient EVs, dual power hybrid vehicles, direct-drive wind energy, military and defense technologies, and other clean energy applications.
Following completion of NdPr production at the Mill in Q2-2004, the Company expects to begin processing uranium ore and alternate feed materials from our current stockpiles, resulting in the expected production of 150,000 to 500,000 pounds of U 3 O 8 during 2024, with production ramping up further in 2025. As previously announced, Energy Fuels has also acquired, or is in the process of acquiring, several HMS projects to secure monazite, which we believe will be globally cost-competitive, to supply future REE separation at the Mill. This includes the Bahia Project in Brazil that the Company acquired in February 2023 , the Donald Project joint venture that the Company announced on June 3, 2024 , and the pending acquisition of Base Resources and the Toliara Project in Madagascar , which in aggregate have the potential to make Energy Fuels one of the largest separated REE producers in the world. The Company expects to receive material quantities of monazite from these projects commencing as early as 2026. In the meantime, the Company plans to focus operations on an aggressive campaign of uranium production during the second half of 2024, all of 2025, and thereafter to supply U.S. uranium into the Company's portfolio of uranium contracts with U.S. nuclear utilities, in addition to additional spot and contract sales into uranium market strength.
MARK S. CHALMERS , PRESIDENT AND CEO OF ENERGY FUELS STATED:
"We have achieved a significant milestone for the Energy Fuels, for Utah , and for the United States : the commercial production of separated rare earths that meet applicable product specifications, while simultaneously ramping up domestic uranium production aggressively. I wish to congratulate the entire team at the White Mesa Mill for bringing commercial rare earth separation capabilities and expertise back to the United States , and for achieving this major accomplishment ahead of schedule and under budget. With this announcement, Energy Fuels can confirm the return of separated rare earth production from monazite back to the United States after a multi-decade absence, in addition to the return of technological know-how and expertise in this extremely important field that is critical to national and economic security.
"Due to the overwhelming success of Energy Fuels' Phase 1 REE separation project, Energy Fuels can now continue to advance its rare earth initiatives with an extremely high degree of confidence. This includes a potential expansion of standalone rare earth separation capabilities at the Mill to 4,000 to 6,000 tonnes of NdPr per year, along with 150 to 225 tonnes of Dy, and 50 to 75 tonnes of Tb, through development of our planned Phase 2 and Phase 3 REE separation circuits. While our recently commissioned Phase 1 Separation circuit is globally significant and would rank the Company as one of the leading producers of separated REEs in the world outside of China , our planned Phase 2 and Phase 3 Separation Circuits would truly be world-class. In addition, we are building a world-class portfolio of heavy mineral sand assets to control our supply of low-cost monazite. We are also ramping-up pilot testing on 'heavy' rare earth separation, with a focus on Dy and Tb. Due to knowledge gained from NdPr, we are confident we will be able to produce on-spec Dy, Tb, and any other separated rare earth products and to design, engineer, permit, construct and commission our Phase 2 and Phase 3 REE separation circuits within budget and time-frame expectations. Our capital investments in the planned Phase 2 and Phase 3 REE separation circuits will be conditional on receipt of suitable customer and/or government backing in the form of supply agreements, offtake agreements and/or financial support. We believe we are in an enviable position to secure this support, based on our proven rare earth processing, refining and separation capabilities and the world-class monazite supply chain we have secured and are securing. I am very pleased that all things are coming together and that we are emerging as a leading U.S. rare earth producer, in addition to advancing our position as a U.S-leading producer of uranium and vanadium.
"Once we conclude this run of separated NdPr, we plan to focus on the processing of our substantial stockpiled uranium ore and alternate feed material inventories at the Mill and the continued ramp-up of our uranium mining, production and sales. At the same time, we plan to design and permit a world-class expansion of REE separation at the Mill -- which is only about four to six times greater than what we have already achieved. Importantly, we will also continue to market our REE products to customers and evaluate government funding collaborations."
Energy Fuels is a leading US-based uranium and critical minerals company. The Company, as a leading producer of uranium in the United States , mines uranium and produces natural uranium concentrates that are sold to major nuclear utilities for the production of carbon-free nuclear energy. Energy Fuels recently began production of advanced REE materials, including mixed REE carbonate in 2021, and commenced production of commercial quantities of separated REEs in 2024. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is evaluating the recovery of radionuclides needed for emerging cancer treatments. Its corporate offices are in Lakewood, Colorado , near Denver , and substantially all its assets and employees are in the United States . Energy Fuels holds two of America's key uranium production centers: the White Mesa Mill in Utah and the Nichols Ranch in-situ recovery (" ISR ") Project in Wyoming . The White Mesa Mill is the only conventional uranium mill operating in the US today, has a licensed capacity of over 8 million pounds of U 3 O 8 per year, and has the ability to produce vanadium when market conditions warrant, as well as REE products, from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U 3 O 8 per year. The Company recently acquired the Bahia Project in Brazil and entered into a joint venture agreement to develop the Donald Project in Australia , each of which is believed to have significant quantities of titanium (ilmenite and rutile), zirconium (zircon) and REE (monazite) minerals. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the US and several uranium and uranium/vanadium mining projects in production, on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com .
Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based uranium and critical minerals company or as the leading producer of uranium in the U.S.; any expectation as to production levels or timing or duration of production from the Bahia Project, the Donald Project, the Toliara Project or any of the Company's other mines or projects; any expectation as to costs of production at the Bahia Project, the Donald Project, the Toliara Project or any of the Company's other mines or projects, or that the Company will secure monazite at globally competitive costs; any expectation that the Company may be successful in entering the REE metal, alloy, and/or magnet-making space; any expectation that the addition of REE production will not diminish in any way the Company's U.S. leading uranium production capabilities; any expectation that any ore reserves estimated to date will accurately reflect actual reserves or resources; any expectation that the Company will be successful in advancing its REE initiatives or that it will be successful in installing REE production capacity at the Mill and the timing of installation of any such production capacity; any expectation that the Company's REE and other products will and will continue to meet commercial specifications; any expectation as to when the Company will have commercial quantities of separated NdPr available for shipment; any expectation that the Company's planned Phase 2 and Phase 3 separation circuits will be developed and if developed would be world-class; any expectation that the Company's planned Phase 2 and Phase 3 separation circuits if developed, would be developed within budget and time-frame expectations; any expectation as to the success of the Company's permitting programs; any expectation that the Company's proposed acquisition of Base Resources and the Toliara project will be completed or if completed, completed on the terms and time proposed; any expectation that the Company will be able to secure commitments for satisfactory offtake and/or sales agreements for REEs produced from monazite at the Mill; any expectation that Energy Fuels will be successful in obtaining suitable supply agreements, offtake agreements and/or financial support from customers and/or governments, to justify development of the planned Phase 2 and Phase 3 separation circuits, or at all; any expectation that the Company is emerging as a leading U.S. rare earth producer, in addition to advancing its position as a U.S-leading producer of uranium and vanadium; any expectation that the Bahia Project and Donald Project will be developed and proceed to production; and any expectation that the Company will be successful in acquiring Base Resources or that the Toliara Project will be developed and proceed to production. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be 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 the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of feed sources for the Mill; competition from other producers; public opinion; government and political actions; the failure of the Company to provide or obtain the necessary financing required to develop the Bahia Project, the Donald Project, the Toliara project or any of the Company's other projects or initiatives; available supplies of monazite; the ability of the Mill to produce rare earth carbonate, rare earth elements or other rare earth element products to meet commercial specifications on a commercial scale at acceptable costs or at all; market factors, including future demand for uranium, rare earth elements and heavy mineral sands; the ability of the Mill to be able to separate radium or other radioisotopes for cancer treatments at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml , on SEDAR at www.sedar.com , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.
SOURCE Energy Fuels Inc.
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GMV Minerals Inc. Reaffirms Commitment to Mexican Hat Gold Project - Drill Permit Received for Nevada Project
GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce the following update
The Company continues to be highly encouraged by its primary core project known as the Mexican Hat gold deposit located in SE Arizona. The Company's Preliminary Economic Assessment" PEA" reports 36.7 million tonnes grading 0.58 gpt gold in a 688,000 ounce Inferred Mineral Resource. An open pit with a 1.87:1 strip ratio was modeled to extract 32.6 million tonnes of this deposit recovering 525,000 ounces of gold over a 10-year mine life. This is a low capital cost operation, total cost of US$67.8 million, which includes US$12 million in contingency and US$13 million in sustaining capital. Heap leach testing demonstrates an exceptional recovery of 88% of the gold from a two-stage crushing circuit.
Partial economics of the base case gold price variance is shown in an excerpt from the PEA (below). For ease of reference, please review the entire PEA by visiting the Company's website at www.gmvminerals.com.
Gold price Base Case Variance | Base | +40% |
US$/troy oz Gold | 1,600.00 | 2,240.00 |
IRR (Pre-Tax) | 39.3% | 77.4% |
NPV @ 5% (Pre-Tax) US$M | 150.6 | 395.0 |
All technical detail is drawn from "NI 43-101 Technical Report Updated Preliminary Economic Assessment, Mexican Hat Project" by Kuestermeyer, A., Pozder, S., Webb, D., Barr, J., Dyer, T., Barrios, F., Garcia, D., 2020.
As a result of the recent and steady increase in the price of gold, well beyond numbers that were conceived in the PEA, the Company is now advancing upon its intention to continue developmental drilling at the project while remaining focused on the share structure of the company.
A drill program will twin approximately thirty-five shallow holes drilled by past operators (approximately 90% completed by Placer Dome USA). This wide diameter diamond drill program intends to refine the internal boundaries of the mineralization and provide geomechanical parameters which cannot be obtained from reverse circulation drilling.
The result from this work is expected to:
Upgrade the mineral resource to higher categories within the Measure, Indicated and Inferred resources classification.
Provide geotechnical data for engineering designs geared to maximize the pit slope and potentially increase recoverable gold ounces.
Provide opportunities to confirm hydrogeological properties of the rock.
Provide samples for environmental testing to characterize both the ore and waste materials for permitting requirements.
In addition, this phase of the drilling will be completed in parallel with a resumption of hydrogeological and atmospheric testing being conducted by SRK Consulting (U.S.) Inc. and Westland Engineering & Environmental Services, Inc. This work will enable the company to identify pertinent data to allow for the Company to advance the project towards production.
The Company also confirms that it has received the approval of the Notice of Intent ("NOI") for the Company's Daisy Creek Project in Lander County, Nevada.
The U.S. Department of the Interior's Bureau of Land Management ("BLM") has reviewed the NOI and determined it is complete, containing all the information required by the surface management regulations at 43 CFR 3809.30. The BLM has reviewed the proposed operation and determined that it is appropriate to proceed to a drill phase.
Dr. D.R. Webb, Ph.D., P.Geo., P.Eng. is the Q.P. for this release within the meaning of NI 43-101 and has reviewed the technical content of this release and has approved its content.
About the Daisy Creek project:
The Daisy Creek project is in Lander County, Nevada where GMV now controls or owns a total of 165 lode claims covering 3,408 acres. An initial 6-hole drill program been established based upon recent sampling, historical data, and the high-resolution aeromagnetic survey completed by Precision GeoSurveys in late 2023. The program is designed to test the Daisy Property for prospective Lithium Claystone (LC) mineralization. The property was explored in the past because of the prospectivity for uranium when the unexpected discovery of high-grade lithium was found. After field evaluation and analyses of past data and a helicopter geophysical survey and the recent approval of the NOI, the Company intends to proceed and commence drill-testing. The Company has engaged Nevada based Harris Exploration to conduct the program.
About GMV Minerals Inc.
GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as the Mexican Hat Property, located in Cochise County, Arizona, USA. The project was initially explored by Placer Dome (USA) in the late 1980's to early 1990's. GMV is focused on developing the asset and realizing the full mineral potential of the property through near term gold production. GMV. Recently updated its National Instrument inferred mineral resource to 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold.
ON BEHALF OF THE BOARD OF DIRECTORS
________________________________________
Ian Klassen, President
For further information please contact:
GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: info@gmvminerals.com
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.
SOURCE: GMV Minerals, Inc.
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Victory Updates Management
Victory Battery Metals CORP. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) is pleased to announce that its board of directors now consist of Gerald Tritt, David Stadnyk and George Tsafalas, all of Vancouver, BC. David Stadnyk has assumed the role of president and CEO. The Company intends to close its recently announced Yellow Chief Uranium acquisition in the next 10 days
The Company wishes to thank Mark Ireton for his service to the company and wishes him well in his future endeavors.
About Victory Battery Metals Corp.
Victory Battery Metals CORP. (CSE:VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.
For further information, please contact:
David Stadnyk, President
Telephone: TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: info@victorybatterymetals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Victory Battery Metals Corp.
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CENTURY LITHIUM CHANGES PROJECT NAME TO ANGEL ISLAND MINE
Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or the Company) announces it has changed the name of its 100%-owned Clayton Valley Lithium Project in Nevada, USA to the Angel Island Mine (the Project). In April 2024 the Company announced a positive Feasibility Study for the Project, making it one of the few advanced lithium projects being developed in the United States . As the Company now continues to work towards permitting the Project, regulators encouraged a name change for clarity in the permitting process. The Angel Island name distinguishes it from other mining and energy projects in the area by using the name of a topographical feature from the Project.
ABOUT ANGEL ISLAND
Angel Island is named for the ridge of older metavolcanic and clastic rocks bordering the west side of Century's lithium clay deposit. The name itself dates to the 1800's, one of three landforms in Clayton Valley named for islands in San Francisco Bay (Alcatraz and Goat islands being the other two). Of the three landforms, Angel Island is the largest, rising to a height 400 meters above the valley floor. Its presence on the east side of the valley, separating Century's lithium clay deposit from the lithium brine operation of Albemarle Corp., is owed to uplift along a major northeast trending normal fault located along the western base of the ridge. Although not directly related to the formation of Century's deposit, uplift of Angel Island along this fault was responsible for elevating the clay deposits east of the fault and bringing them to the surface where they are now accessible for mining. The harder rocks in the ridge also likely acted as a physical barrier protecting Century's lithium clay deposit from erosion.
ABOUT Century Lithium CORP.
Century Lithium Corp. is an advanced stage lithium company, focused on developing its 100%-owned Angel Island Mine in west-central Nevada, USA . Century Lithium recently completed a Feasibility Study on the Project and is currently in the permitting stage, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.
ON BEHALF OF Century Lithium CORP.
WILLIAM WILLOUGHBY , PhD., PE
President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking Statements
This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" and similar expressions suggesting future outcomes or statements regarding an outlook.
Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company's future development plans.
These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. These risks include those described under the heading "Risk Factors" in the Company's most recent annual information form and its other public filings, copies of which can be under the Company's profile at www.sedarplus.com . The Company expressly disclaims any obligation to update-forward-looking information except as required by applicable law. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place reliance on forward-looking statements or information. Furthermore, Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
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SOURCE Century Lithium Corp.
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Brunswick Exploration Outlines New Spodumene Rich Boulder Trains at Mirage and Launches Summer Drill Campaign
Brunswick Exploration Inc. (" BRW " or the " Company ") is pleased to announce the completion of the 2024 prospecting program and start of a 5,000-metre summer drill program at the Mirage Project, located in the Eeyou Istchee-James Bay region of Quebec. To date, 71 drill holes and more than12,000 meters have been drilled on the Mirage project which have delineated nine near-surface spodumene-bearing pegmatite dykes, all of which remain open at depth and along strike. Approximately two dozen additional dykes, with widths ranging from 8 metres to approximately 20 metres, have also been intercepted in the two previous campaigns with minimal to no follow-up work. The proposed program will focus on MR-6, MR-3 and MR-4 as well as new targets that were delineated using drilling, geophysics, till mineralogy and prospecting.
Mr. Killian Charles, President and CEO of BRW, commented: "With a shortened 2023 exploration campaign due to forest fires, we were eager to complete our ground exploration work at Mirage. The program was highly successful and outlined four new high priority areas of interest within the trend of mineralization at Mirage. These targets are hosted along favorable structural environments and will be drill tested during the forthcoming drilling campaign. Alongside the major pegmatitic dykes already outlined, Mirage remains a target-rich project with multiple avenues of exploration growth."
Overview of Prospecting Program at Mirage
Prospecting and detailed mapping were carried out by the BRW exploration team in June (Figure 1). This effort was supplemented by a till survey performed in the spodumene-bearing boulder train and in its vicinity to better delineate potential sources and drilling targets. Some samples returned coarse spodumene crystals in till (Figure 2). Interestingly, some samples outside of the main boulder trend also returned significant spodumene grain count, indicating the potential for new sources. The till survey will be expanded to the entire project in the fall to continue expanding the trend of mineralization at Mirage.
The prospecting campaign also outlined numerous new spodumene-bearing boulders. Significantly, these boulders were found to the W and SW of the main spodumene boulder train previously identified in 2023. The size (up to 200 cubic meters) and angularity of the boulders (Figure 3 and Figure 4) indicate their sources lie close-by, likely outside of the known mineralization in the Central and South zone. Combined with the till surveys and geophysics completed to date, BRW strongly believes significant mineralization remains to be found at Mirage.
Figure 1 : Surface map of the till program and location of new spodumene boulders
Figure 2 : Photo of orange-fluorescent spodumene grains in till lighted by UV lamp
Figure 3 : New angular boulder discovered in latest prospecting program
Figure 4 : Large off-white spodumene crystal in one of several new boulder discoveries
QAQC
Tills were collected by BRW staff. The 10 kg samples were sieved directly on site to two different size fractions: 8mm and 2mm. Pegmatite clasts were counted in the 8 mm fraction and the presence of spodumene mineralization was confirmed through UV light.
Qualified Person
The scientific and technical information contained in this press release has been reviewed and approved by Mr. Simon T. Hébert, VP Development. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by National Instrument 43-101.
About Brunswick Exploration
Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing one of the extensive grassroots lithium property portfolios in Canada and Greenland.
Investor Relations/information
Mr. Killian Charles, President and CEO ( info@BRWexplo.com )
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. 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.
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Lithium Universe Ltd Becancour Lithium Refinery Project Update
Highlights
- Project is advancing well and remains on track
- Engineering milestones include plant layout, equipment packages, datasheets, scopes of work, and specifications
- Procurement priority one packages for quotes about 60% complete
- Early contractor engagement and strategic risk assignment
- Environmental work is progressing with no show-stoppers identified to date
- Strong engagement from Federal, Provincial and Local Government
- Becancour Lithium Refinery well aligned with Provincial strategy
- Mature local government support and project understanding
Procurement
Procurement activities include sending technical specifications to suppliers for detailed quotations to build the capex estimation. For priority one mechanical equipment, nine packages have been issued, with seven offers received and evaluations currently underway. Five priority one electrical equipment supply packages will be issued for inquiry within the next week. The goal is to evaluate all priority one packages by the end of September.
Due to potential lead times for electrical transformers, the tenderer list will be expanded to reduce these lead times.
Engineering
The major engineering activities include finalizing the plant layout and preparing documentation for equipment packages, such as datasheets, scopes of work, and specifications. Key tasks also involve creating the main power distribution single line diagram and providing clarifications during the tender period. Additionally, proposals received are being thoroughly reviewed to ensure they meet project requirements. Effective handling of process effluent and site runoff is another critical focus area. The development of the package register, material take-offs (MTOs), and comprehensive equipment lists are ongoing, ensuring all necessary components and details are accurately documented and organized for the project's successful execution.
Plant Layout
The first release of the plant layout has been published, with several features still under development. These include new plant areas such as the boiler plant and process effluent treatment. Structural framing of buildings and HVAC systems are in progress, along with civil works encompassing drainage, road pavements, vehicle paths, sedimentation ponds, and car parking. The location and number of plant switch rooms is being optimised.
Efforts are being made to enhance spodumene and residue storage, focusing on materials handling and capacity. Additionally, the routing of major pipe and cable racks is being planned. The layout on-site is being designed with consideration of likely environmental constraints to ensure compliance and sustainability. These developments aim to enhance the overall efficiency and effectiveness of the project.
Environmental Work
The team is actively involved in field inventories to develop knowledge of the biodiversity present on site. Four field campaigns have been carried-out to survey the presence of short-eared owls, breeding birds, fish and fish habitat, and wetlands. Based on preliminary results, no species at risk nor species of concern as listed under the Canadian Species at Risk Act (SARA) have been identified so far. The project team is also engaged in activities to optimize the site layout and reduce encroachment on wetlands identified on the property. Surveys are expected to be completed during the Canadian Summer. Field inventory results will be used to support environmental permitting activities and discussions with the Regulators to ensure site layout and the design of the industrial facility are developed in full compliance with the environmental regulatory framework.
A Phase I study to understand previous uses of the site is progressing and no potential environmental liability has been identified based on preliminary results. The Phase I Study is expected to be completed by the end of July. Over the coming months, the team is expected to initiate the preparation of permitting documents to ensure the Project follows formal approval lines.
Priorities
The highest priorities for the next few months include finalising the environmental permitting and approvals program, which entails completing the initial field survey, briefing with the Ministry, finalising the Phase 1 Report, and preparing the first application. Engineering work necessary for the environmental permit application is also a top priority, focusing on civil design, updated plant layout, and water management strategy. In parallel, equipment procurement will involve preliminary engineering, securing vendor proposals, and establishing schedules. Confirming the treatment of process effluent and site runoff is crucial for environmental compliance.
Additionally, commencing civil and structural engineering work is essential to maintain project momentum.
Finalising the plant layout will ensure all components are correctly positioned and integrated. Lastly, execution phase planning will be progressed, contingent on the monthly budget, to ensure that all activities are appropriately funded and scheduled for efficient project advancement.
Government and Community Engagement
A trip by key leadership members to Eastern Canada. The delegation, led by CEO Alex Hanly and including Chairman Iggy Tan, Board Directors Patrick Scallan and Dr. Jingyuan Liu, and Canadian Director, Victoria Vargas, engaged with government stakeholders, community partners, and industry peers. The meetings in Montreal, Becancour, Quebec City, and Ottawa reinforced the Company's strategy to address the Lithium Conversion Gap in North America and provided updates on our engineering progress and commercial discussions.
Ministry of Economics, Innovation, and Energy
A meeting was held in Quebec City with the Honourable Minister Pierre Fitzgibbon, Minister of Economics, Innovation, and Energy. This follows the Company's initial presentation of the Company's unique strategy in November 2023 in Dubai. Once again, Minister Fitzgibbon expressed enthusiasm for our engineering progress, the acquisition of the Option agreement within the Becancour Industrial Park, and the Hydro-Quebec application for an estimated 22.5MW energy allocation for our Becancour Lithium Refinery.
Lithium Universe emphasized Quebec's strategic benefits, including hydroelectric power, proximity to the James Bay region, and logistic advantages with port access to the transatlantic region. The Minister reiterated his support for our vision of transforming Quebec into the Centre of Lithium Conversion for the transatlantic region.
The Company is impressed with the forward-thinking provincial government of Quebec and the progress of the Strategic Innovation Zone under the pragmatic guidance of Minister Fitzgibbon.
Becancour Lithium Refinery Site
In February 2024, the Company successfully executed an option agreement to acquire a refinery site strategically located within the Becancour Waterfront Industrial Park (BWIP). The site in Becancour, close to Trois-Rivieres, lies between Montreal and Quebec City and is near major highways and railways. The Port of Becancour supports year-round operations with deep-water access. The site offers low-cost hydroelectric power, robust infrastructure, and comprehensive water and waste facilities, ideal for the proposed Lithium Refinery.
The Company once again met with key executives from the BWIP in Becancour. The meeting focused on the Company's progress in site evaluation activities and included a presentation on the process design, featuring pictures from a reference lithium carbonate refinery. The port was confirmed to have the capacity to manage 50,000-ton bulk shipments, exceeding the Company's initial requirements. The Company had the opportunity to inspect Lot 22, encompassing an area of 27-hectare, and view the proximity to infrastructure and immediate tiein to existing BWIP utilities. The SPIPB team provided an overview of planned expansions and facility upgrades to the onsite infrastructure, positioning Becancour as a leader in offering prime industrial real estate in Quebec.
The Company will be looking to commence various community initiatives to integrate the industrial site into the wider community.
Municipality of Becancour
The Company met with the Mayoress of Becancour to discuss the Company's objectives to contribute to the local economy by providing hundreds of employment opportunities and helping to realize its economic potential.
LU7 reaffirmed its commitment to the Becancour and wider Trois-Rivieres region, pledging to support various social, community, and environmental initiatives in the coming years. The Mayoress expressed enthusiasm for the Company's plans within the SPIPB, recognizing the development of a proven and reliable design with internationally aligned process outputs.
Provincial Government - Quebec
The Company also met with key delegates in Montreal from Investissement Quebec (IQ), the Ministry of Natural Resources and Forests (MRNF), Energy Transition Valley Innovation Zone, and the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks. The provincial government has identified a lithium conversion gap within the supply chain, crucial for servicing the expected increase in spodumene supply from the James Bay region in the coming years. Quebec is a North American leader in attracting foreign direct investment, sustainable development, and supporting battery metals projects. The province has a strong history of supporting lithium battery supply chain development, with significant provincial and federal government incentives.
Recent government support includes the General Motors (GM) and Korea-based POSCO Chemicals' US$1 billion cathode active material (CAM) factory, the Ford/EcoPro BM US$800 million cathode factory, and Northvolt's US$7 billion EV Battery Facility at Saint-Basile-le-Grand. This creates a favourable regulatory environment for the Company's project, ensuring robust support throughout the cycle.
Canadian Federal Government - Ottawa
The Company met with various federal government stakeholders from Invest in Canada (IIC), Natural Resources Canada (NRCAN), Innovation, Science and Economic Development (ISED), and Export Development Canada (EDC). Given the lack of refining capacity in Canada, LU7's lithium carbonate plant is an innovative project, as there are no current operating or planned facilities of this kind within the country. Building lithium conversion capacity alongside spodumene mines will enable Canada to become wholly self-sufficient in the lithium chemical supply chain.
Hatch - Montreal
The Company and its engineering partner, Hatch, held a productive meeting at the Montreal office to align their shared culture and fast-track development vision. They reinforced the philosophy of "same process, same equipment, same supplier," which minimizes technical risks, ensures quality, and reduces costs. The operational environments in Australia and Canada share many similarities, facilitating the integration of skills into Quebec.
Hatch's leadership in building lithium conversion facilities and tackling challenging projects validates the decision to partner with them. Through this collaboration, the Company acknowledges Hatch's expertise as the premier lithium refinery engineering expert.
Lithium Universe Chairman, Iggy Tan said, "The project is on track, finalizing plant layout, issuing capex specs, progressing supplier quotes, with smooth office transition, and no environmental issues, ensuring readiness for capex cost estimate. The reception from federal, provincial and local government delegates has left a very positive impression on the LU7 Board of Directors. The region has made strong commitments since releasing the Critical Minerals Strategies four years ago and we have seen that in the significant investments made within the battery supply chain and pragmatic discussions held with key government executives. We look forward to advancing the Company's Becancour Lithium Refinery to contribute in making Quebec the lithium conversion centre within the Transatlantic region."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/82C8D877
About Lithium Universe Ltd:
Lithium Universe Ltd (ASX:LU7) (OTCMKTS:ESMAF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.
Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.
Source:
Lithium Universe Ltd
Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com
Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com
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Victory is Pleased to Announce the Appointment of Gary Musil to the Company's Board of Directors and a Private Placement
Victory Battery Metals Corp. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) welcomes Gary Musil as a director of the Company, effective July 1, 2024. Gary Musil has more than 35 years of management and financial consulting experience and has served as an officer and director on numerous public companies since 1988. This experience has resulted in his overseeing the financial aspects and expenditures on exploration projects in Peru, Chile, Eastern Europe (Slovak Republic), and British Columbia, Ontario, Quebec, Saskatchewan and New Brunswick (Canada). Prior to his public company work, he was employed for 15 years with Dickenson Mines Ltd. and Kam-Kotia Mines Ltd., as the Controller for their producing silverleadzinc mine in the interior of British Columbia
Mr. Musil replaces David Lane, who has resigned from the Company's Board of Directors. Victory Battery Metals would like to thank Mr. Lane for his contribution to the Company and wish him the best in his future endeavors.
The company also announces today that it will undertake a non-brokered private placement of up to $675,000 by the issuance of 20,454,545 units at $0.033, each unit consisting of one share and one half a warrant. Each whole warrant entitles the holder to additional share for 2 years at a price of $0.10.
In connection with the Offering, the Company may pay finder's fees in cash or securities or a combination of both, as permitted by the policies of the Canadian Securities Exchange (the "CSE") and applicable securities laws. The common shares and warrants comprising the Units will be subject to a four-month and one-day hold period.
The Company intends to use the net proceeds of the offering for working capital requirements and other general corporate purposes.
About Victory Battery Metals
Victory is a publicly traded diversified investment corporation with mineral interests in North America. The Company's head office is located at 1780-355 Burrard Street, Vancouver, BC, V6C 2C8, and its Common Shares are currently listed on the CSE.
Cautionary Statement Regarding Forward-Looking Information
Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such forward-looking information can be generally identified by terms such as "may", "expect", "estimate", "anticipate", "intend", "believe", and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future, and readers are cautioned that such forward-looking statements may not be appropriate for other purposes. By its nature, this forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions may not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities may not be achieved. These risks and uncertainties include but are not limited to those identified and reported under the Company's disclosure documents available on its SEDAR+ profile at www.sedarplus.com.
Contact Information
For further information, please contact:
Mark Ireton, President
Phone: +1 (236) 317-2822 or toll-free +1 (855) 665-GOLD (4653)
E-mail: info@victorybatterymetals.com
www.victorybatterymetals.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Victory Battery Metals Corp.
View the original press release on accesswire.com
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