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Taseko up 10% on Copper Permit News

Taseko Mines Ltd. [TKO-TSE] shares rallied in active trading Monday after the company said it…

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This article was originally published by Resource World

Taseko Mines Ltd. [TKO-TSE] shares rallied in active trading Monday after the company said it has reached a key milestone at its Florence Copper Project in Arizona.

The company said the U.S. Environmental Protection Agency (EPA) has provided the company with an initial draft of the underground injection control permit for the Florence project.

Taseko’s project technical team will complete a review of the permit wording for within the two-week allotted time frame. After that, the EPA is expected to commence a public comment period.

“Detailed engineering and procurement activities are well advanced, and we will be ready for construction of the commercial facility immediately upon issuance of the final UIC permit,’’ said Taseko Stuart McDonald.

“The Florence copper project will have one of the smallest environmental footprints of any copper mine in the world.’’

Florence Copper is an in-situ copper recovery project located midway between Pheonix and Tucson, near the community of Florence, Arizona. Development is being performed in two phases, including a phase one production test facility and a second phase commercial facility.

Taseko is a Vancouver-based company with a portfolio that includes the Gibraltar mine in British Columbia, the Florence Copper Project, and the New Prosperity copper-gold project, which is located near Williams Lake, B.C.

When in production, Florence Copper is expected to produce 85 million pounds of copper annually at a cash cost of US$1.13 per pound over a 20-year lifespan. Based on the company’s latest technical report and supported by nearly two years of successful operation of the test facility, the project has an after-tax NPV (8%) of US$680 million at a copper price of US$3.00 per pound.

On Monday, Taseko shares advanced on the news, rising 10% or 25 cents to $2.75 on volume of 541,730. The shares trade in a 52-week range of $3.22 and $1.035.

Taseko was in the news recently when it agreed to sell a gold project located off the coast of British Columbia, to JDS Gold Inc., a newly incorporated company controlled by JDS Energy & Mining Inc. and affiliates.

Under the agreement, JDS became the owner and operator of the Harmony Gold Project, a high-grade development-stage property, which covers 177 square kilometres and is estimated to host a historical resource of over 3.0 million ounces of gold. The project is located on Graham Island, Haida Gwaii.

The company said that material is contained within 22 million tonnes of measured and 42 million tonnes of indicated resources grading 1.77 and 1.41 g/t gold respectively at a 0.60 gold cut-off grade.

Taseko retains a 15% carried interest in JDS and a 2% net smelter return royalty on the project.

 

Author: Staff Writer

Energy & Critical Metals

Northern Graphite Snaps Up 2 Mines for US$40M

Northern Graphite Corp. [NGC-TSXV; NGPHF-OTCQB] has agreed to acquire a 100% interest in two graphite…

Northern Graphite Corp. [NGC-TSXV; NGPHF-OTCQB] has agreed to acquire a 100% interest in two graphite mines from French industrial minerals company Imerys Group for US$40 million, a move that CEO Greg Bowes described as “transformational” for the company.

The assets being acquired include the producing Lac des Iles graphite mine in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia. The Namibian project is held by Imerys and a joint venture partner.

Closing of the transaction is subject to a number of conditions, including the approval of the TSX Venture Exchange. The transaction is considered a “fundamental acquisition” under TSX Venture Exchange policies. As a result, trading in the company’s shares has been halted pending a satisfactory review by the TSX-V or closing of the transaction, whichever occurs firs.

Northern Graphite said it intends to raise US$55 million in financing to complete the transaction, which includes payment of the purchase price, capital improvements, reclamation bonding, working capital and transaction expenses.

The company has signed a term sheet with Sprott Resource Streaming and Royalty Corp. for US$40 million in debt/royalty/stream financing and an engagement letter with Sprott Capital Partners LP to act as lead agent with respect to an equity offering of US$15 million.

The Sprott Group intends to participate in the equity offering with an investment of US$3 million, and Imerys will receive US$3 million in equity on the same terms as the offering, as partial payment for the purchase price. Imerys is also providing other support for the transaction.

Northern Graphite is a mineral development and technology company that has been working to develop its flagship Bissett Creek graphite deposit in northern Ontario.

The company is also focused on upgrading mine concentrates into high value components used in lithium-ion batteries, electric vehicles, fuel cells, graphene and other advanced technologies.

Its aim has been to become a leading supplier of graphite, an industrial mineral that has long been associated with steel manufacturing, lead pencils and golf clubs, but is now a key ingredient used in the production of electric vehicles.

Speaking about the acquisition of the Imerys assets, Bowes said: “This is a truly transformational deal that will elevate Northern from one of over 20 junior graphite companies looking for project financing to being the only North American and the world’s third largest non-Chinese graphite-producing company.”

In addition, he said Northern will have two large-scale development projects in stable jurisdictions that will enable the company to significantly expand production to meet growing demands from the [electric vehicle]/battery markets,’’ Bowes said.

Transaction highlights include the acquisition of 40,000 to 50,000 tonnes per year of graphite concentrate production capacity. The Namibian operation will be brought back on line, enabling Northern Graphte to expand its market share in North America and Europe.

Terms of the deal were announced just before the market close on December 2, 2021, when Northern Graphite shares were priced at 83 cents and trade in a 52-week range of 92 cents and 23 cents.

 

Author: Staff Writer

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Toyota Taps BYD To Launch Mid-Range Electric Vehicle In China

A month after launching its first all-electric car, Toyota Motor Corp. (TYO: 7203) seems to be working on adding a
The post Toyota Taps BYD To Launch Mid-Range…

A month after launching its first all-electric car, Toyota Motor Corp. (TYO: 7203) seems to be working on adding a second electric vehicle to its lineup. The Japanese automaker is reportedly tapping Chinese manufacturer BYD Co. Ltd. (SHE: 002594) to work on a more affordable model set to take a slice of the Chinese electric vehicle market.

Reuters reported that sources relayed Toyota will be partnering with BYD for its lithium-iron-phosphate (LFP) Blade batteries and engineering expertise.

The new electric vehicle is anticipated to be priced at US$30,000, below the premium lines like Tesla Model Y or Nio ES6 but above China’s best-selling electric vehicle Hong Guang Mini which starts at US$4,500.

A Toyota spokesperson did not confirm the news when sought for comment while BYD declined to comment, according to Reuters.

It is expected that the electric car model will be unveiled at the next Beijing auto show, slated to be the second model in the carmaker’s BZ electric vehicle line.


Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Toyota Taps BYD To Launch Mid-Range Electric Vehicle In China appeared first on the deep dive.

Author: ER Velasco

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Energy & Critical Metals

American Manganese Files National Phase Patent For Its Battery Recycling Process

American Manganese Inc. (TSXV: AMY) announced this morning that it has filed National Phase Patent Applications concerning its battery recycling
The post…

American Manganese Inc. (TSXV: AMY) announced this morning that it has filed National Phase Patent Applications concerning its battery recycling process, RecycLiCo. The patent pertains to a second invention related to the proprietary battery recycling process.

The patent contains new process functions that “enhance the RecycLiCo process” of recycling lithium-ion end-of-life batteries, including recovery of graphite and treatment of black mass, treatment of fluoride, and separation of aluminum from cathode active material.

The original application was filed with the World Intellectual Property Organization and is now filed into the national phase for Europe, South Korea, Canada, India, Australia, Japan, and China.

American Manganese last traded at $0.50 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post American Manganese Files National Phase Patent For Its Battery Recycling Process appeared first on the deep dive.







Author: ER Velasco

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