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PureGold Announces Third Quarter 2021 Production Results, Mine Leadership Update

VANCOUVER, British Columbia, Oct. 27, 2021 (GLOBE NEWSWIRE) — Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased…

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VANCOUVER, British Columbia, Oct. 27, 2021 (GLOBE NEWSWIRE) — Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased to provide a third quarter 2021 update for its high-grade PureGold Mine in Red Lake, Ontario.

Production highlights and milestones for the third quarter include:

  • Average daily throughput of 685 tpd for the quarter, a 35% increase compared to the second quarter driven by increased stope access and mill upgrades;
  • Gold production of 9,260 ounces, a 54% increase compared to the second quarter driven by higher grades and increased tonnage;
  • Average mill head grade of 4.8 g/t Au, a 15% increase on the second quarter;
  • Average mill recovery rate of 94.7%, in line with expectations;
  • Completion of mill upgrades to increase processing capacity, 1,000 tpd achieved for a number of days;
  • Continued ramp-up of production from the East Ramp area of the mine, which has become a key production contributor and is expected to grow significantly over the coming quarters;
  • Average ramp development rate 7.4 metres per day, as improving stope access and continuing to accelerate access to deeper, higher-grade zones of the mine, including 8-Zone, remains a top priority.

Mine Leadership Update
Maryse Bélanger, a Director of the Company, has stepped into the role of Mine General Manager at the PureGold Mine effective today and will be based in Madsen on a full time basis. In this role, Ms. Bélanger will oversee all aspects of the day-to-day operations of the PureGold Mine. Maryse is a widely respected senior mining executive with decades of experience and a track-record of successfully leading the construction, commissioning, ramp-up and operation of several mines globally. Her previous roles include President & CEO of Augusta Gold and President, Director & COO of Atlantic Gold, where she successfully guided the company in taking its Touquoy Mine in Nova Scotia from construction to commissioning, ramp-up and full production, through to its eventual acquisition by St. Barbara for $722M. She also served as CEO & Managing Director of Mirabela Nickel Ltd. where she is credited with the successful turnaround of the Santa Rita mine in Brazil during a period of extremely low metal prices. From 2009 to 2014, Maryse was a senior executive with Goldcorp where she was ultimately appointed Senior Vice President, Technical Services.

Darin Labrenz, President & CEO of PureGold, commented, “The third quarter was a strong operational quarter for the PureGold Mine with quarter-over-quarter improvements in ore production, underground development rates, and mill head grades. We expect mill throughput and mill head grades to continue trending positively through the end of 2021 and into 2022 as ongoing accelerated development and definition drilling programs continue to open up access and build inventory in both the East Ramp and Main Ramp areas of the mine. Underground drilling continues to confirm the high-grade nature of this deposit and we are excited by what lies ahead.” He continued, “I am delighted to have Maryse joining our local leadership team in operations on a day-to-day basis. Maryse’s extensive global experience both as a corporate executive and a mine operator, with a focus on streamlining organizations and driving cost performance, will be a great asset to PureGold. Her decades of hands-on global mining experience and a progressive approach to mining placing a high priority on safety, sustainability, and accountability, is an excellent addition to the PureGold team. I am confident that Maryse is the right leader to guide the PureGold Mine through its next phase of growth.”

Milling Update
Several key upgrades were completed at the milling facilities during the third quarter including the installation of interstage screens on each of the six CIP tanks, installation of a trommel screen on the SAG mill discharge, and several pump upgrades. These upgrades have increased the steady-state milling capacity by 25% from 800 tpd to 1,000 tpd. Significant progress was made on permit amendments to increase annual ore production limits from 292,000 tonnes (800 tpd) to 360,000 tonnes (1,000 tpd) in the quarter, and final approval of the amendment is on track to be received well in advance of the current limit becoming a constraint on production.

Ramp Development Update
Development of the Main Ramp averaged 4.7 metres per day in the third quarter. The Main Ramp remains the critical path to 8-Zone access and drilling. As of September 30, the Main Ramp was at a depth of approximately 420 metres below surface and is expected to reach approximately 490 metres vertical depth by the end of 2021. The Company is evaluating opportunities to continue developing the Main Ramp at an accelerated rate into 2022 to further expedite 8-Zone access.

East Ramp Update
East Ramp development averaged 2.7 metres per day in the quarter as development activities in the East Ramp area of the mine were split between ramp development and lateral development. The first stopes were mined from the East Ramp area of the mine early in the third quarter. To date, a total of 6,290 tonnes of stope ore has been mined at a grade of 9.0 g/t gold. The next block of stopes to be mined beginning in Q4 2021 is under development with sill development currently underway on three levels. Sill development is showing exceptional continuity of high-grade gold mineralization, with the 1420 sill returning approximately 64 lateral metres grading 7.4 g/t gold, significantly longer and higher grade than what was initially modelled. Recent drilling in the area also indicates strong potential for stope expansion along strike and to depth, beyond the currently defined reserve stopes. These East Ramp area stopes currently under development represent a key growth opportunity for the PureGold Mine in Q4 2021 and into 2022.

8-Zone Drilling Update
The Company has designed a phase one 18-hole drill program to target the high-grade 8-Zone with drills to be positioned in a drill bay off the Main Ramp at a vertical depth of approximately 400 metres. The goal of this initial 8-Zone drilling program is to upgrade 8-Zone mineral resources ahead of planned mining in 2024 and to explore possible extensions of 8-Zone. The Company will provide further updates following commencement of the 8-Zone drilling program.

Mineral Resource Update
An updated Mineral Resource Estimate for the PureGold Mine including satellite deposits Wedge, Russet South and Fork is expected to be completed in Q4 2021. Following completion of the updated resource estimate, an updated Technical Report is expected to be completed including an updated Mineral Reserve. Expected timing for the updated Technical Report is H1 2022.

Updated Production Outlook
For the first three quarters of 2021, accelerated ramp development and definition drilling have been successful in opening up the underground mine which, in turn, has driven steady improvements in throughput and grade year to date. The Company is confident that these programs will continue to deliver steady improvements going forward, though the forecasted pace of ramp-up has been revised based on trends observed to date. As such, the Company is targeting a production rate of approximately 600-700 tpd at an average head grade of 5.5-6.5 g/t Au for the fourth quarter of 2021 and expects to continue ramping up both throughput and mill head grade toward the mine’s full capacity by the end of Q1 2022. The Company now expects to sustain 1,000 tpd by mid-2022.

Financial Update
As of September 30, 2021, the Company held approximately $24 million in cash. The Company has drawn US$85 million to date on its credit facility with Sprott Resource Lending.

Qualified Persons and 43-101 Disclosure
Ken Donner, P. Eng., Vice President, Operations for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

About Pure Gold Mining Inc.
PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold’s multi-million ounce high-grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.

Additional information about the Company and its activities may be found on the Company’s website at www.puregoldmining.ca and under the Company’s profile at www.sedar.com

  1. For further information, see the technical report titled “Madsen Gold Project Technical Report Feasibility Study for the Madsen Deposit Red Lake, Ontario, Canada” with an effective date of February 5, 2019, and dated July 5, 2019 (the “Feasibility Study”), for further information please see www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com

ON BEHALF OF THE BOARD
Darin Labrenz                        
Darin Labrenz, President & CEO

Investor inquiries:
Adrian O’Brien, Director, Marketing and Communications
Tel: 604-809-6890
[email protected]

Non-IFRS Financial Performance Measures

The Company has included certain non-IFRS measures in this new release. Refer to the Company’s MD&A for an explanation of non-IFRS measures. The Company believes that these measures, in addition to measures prepared in accordance with International Financial Reporting Standards (“IFRS”), provide readers with an improved ability to evaluate the underlying performance of the Company and to compare it to information reported by other companies. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to similar measures presented by other issuers.

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.

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to PureGold within the meaning of applicable securities laws, including, but not limited to statements with respect to those that address proposed timing of development plans for the PureGold Mine complex, timing of expected production, potential for accelerating development of the two main ramps, potential for advancing the amount and timing for higher grade ore, potential for additional resources and expansion of known deposits and potential for making new discoveries and the focus of the Company in the coming months . Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of PureGold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results at the Pure Gold Red Lake Mine complex; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration and development activities generally; delays in permitting; possible claims against the Company; the timing of future economic studies; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 31, 2021 in the section entitled “Risk Factors”, under PureGold’s SEDAR profile at www.sedar.com.

Although PureGold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. PureGold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law. 









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Today’s News

Horizonte Minerals PLC Announces Posting of Circular and Notice of General Meeting

THIS ANNOUNCEMENT (INCLUDING THE APPENDICES) AND THE TERMS AND CONDITIONS SET OUT HEREIN (TOGETHER, THIS "ANNOUNCEMENT") IS FOR INFORMATION PURPOSES ONLY…

THIS ANNOUNCEMENT (INCLUDING THE APPENDICES) AND THE TERMS AND CONDITIONS SET OUT HEREIN (TOGETHER, THIS “ANNOUNCEMENT”) IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM ANY PART OF AN OFFER TO SELL OR ISSUE, OR A SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION. NO PUBLIC OFFERING OF THE FUNDRAISE SHARES IS BEING MADE IN ANY SUCH JURISDICTION OTHER THAN IN CANADA ON THE TERMS AND CONDITIONS SET OUT IN A PROSPECTUS SUPPLEMENT TO, AND INCLUDING, THE FINAL SHORT FORM BASE SHELF PROSPECTUS OF THE COMPANY DATED 29 OCTOBER 2021, FILED IN ALL PROVINCES AND TERRITORIES OF CANADA, EXCEPT QUÉBEC. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.

THIS ANNOUNCEMENT IS NOT FOR PUBLIC RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

LONDON, UK / ACCESSWIRE / November 29, 2021 / Horizonte (AIM:HZM)(TSX:HZM), announces that, further to the announcement made on 23 November 2021 (the “Equity Fundraise Announcement“) in relation to the proposed fundraise of approximately US$197 million (the “Equity Fundraise“) and the proposed admission of the Company’s enlarged share capital to AIM and the Toronto Stock Exchange (the “TSX”), a shareholder circular (the “Circular“) relating to the Equity Fundraise will be published today and will be filed on the Company’s profile on SEDAR and mailed to shareholders on or before 29 November 2021. The Company has applied to list the New Ordinary Shares on the TSX and application will be made for the New Ordinary Shares to also be admitted to trading on AIM. Listing will be subject to approval by the TSX and the Company fulfilling all of the requirements of the TSX. It is expected that TSX and AIM Admission will become effective on or around 22 December 2021.

The Circular contains details of the Open Offer which provides existing holders of ordinary shares in the Company whose names appear on the register of members of the Company on a specified record date (the “Qualifying Shareholders“) with the opportunity to subscribe for Open Offer Shares on the basis of 1 Open Offer Share for every 20 Ordinary Shares held on the Record Date, at the Issue Price.

Full details of the Open Offer, including terms and conditions and details of how to accept the Open Offer, are set out in the Circular. The Circular is also available via the Company’s website: https://horizonteminerals.com/uk/en/, and will be filed and available on the Company’s profile on SEDAR at www.SEDAR.com.

The Company advises shareholders that there is a typographical error on page 36 of the Circular concerning the timing for applications under the Open Offer. Shareholders (in particular Qualifying CREST Shareholders) should note that in order for an application under the Open Offer to be valid the USE instruction must comply with the requirements as to authentication and contents set out in the Circular and must settle on or before 11.00 a.m. on 17 December 2021, and not 8:00 a.m. on 22 December 2021 as stated on page 36.

General Meeting

The Circular includes a Notice of General Meeting convening an general meeting to be held at the offices of Horizonte Minerals plc, Rex House, 4-12 Regent St, London, SW1Y 4RG, United Kingdom at 1.00 p.m. on 20 December 2021 (the ” General Meeting“).

The Company continues to monitor the COVID-19 situation, including UK Government legislation and guidance, and will continue to do so in the lead up to the General Meeting. The health of our Shareholders, employees and stakeholders is extremely important to us. Whilst as at the date of this document all restrictions on public meetings have been lifted, there is no guarantee that things will not change between this date and the date of the General Meeting.

In the event that the Company is forced, due to the reimplementation of COVID-19 restrictions, to hold the meeting as a closed meeting, or limit the numbers of people able to attend, a further announcement will be made as to how members will be able to ask questions which they may have otherwise asked at the General Meeting regarding the resolutions.

For further information, visit www.horizonteminerals.com or contact:

Horizonte Minerals plc
Jeremy Martin (CEO)
Anna Legge (Corporate Communications)

[email protected]

+44 (0) 203 356 2901

Peel Hunt LLP (NOMAD & Joint Broker)
Ross Allister
David McKeown

+44 (0)20 7418 8900

BMO Capital Markets (Joint Broker)
Thomas Rider
Pascal Lussier Duquette
Andrew Cameron
Muhammad Musa

+44 (0) 20 7236 1010

Appendix

This Announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This Announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or with any securities regulatory authority of any state or jurisdiction of the United States, and may not be offered or sold in the United States, except pursuant to an applicable exemption from the registration requirements of the U.S. Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. No public offering of the Placing Shares is being made in the United States.

IMPORTANT NOTICES

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM ANY PART OF AN OFFER TO SELL OR ISSUE, OR A SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION. NO PUBLIC OFFERING OF THE FUNDRAISE SHARES IS BEING MADE IN ANY SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.

This Announcement is not for public release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, the Republic of South Africa, Japan or any other jurisdiction in which such release, publication or distribution would be unlawful.

No action has been taken by the Company, the Joint UK Bookrunners, the Canadian Agents or any of their respective affiliates, or any of its or their respective directors, officers, partners, employees, advisers and/or agents (collectively, “Representatives”) that would permit an offer of the Placing Shares or possession or distribution of this Announcement or any other publicity material relating to such Placing Shares in any jurisdiction where action for that purpose is required. Persons receiving this Announcement are required to inform themselves about and to observe any restrictions contained in this Announcement. Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this Announcement should seek appropriate advice before taking any action. Persons distributing any part of this Announcement must satisfy themselves that it is lawful to do so.

Investors Resident in the United Kingdom and the EEA

This Announcement is directed at and is only being distributed to: (a) persons in member states of the European Economic Area (the “EEA“) who are “qualified investors”, as defined in Article 2(e) of the Prospectus Regulation (Regulation (EU) 2017/1129) (the “Prospectus Regulation”) (“EEA Qualified Investors”), (b) persons in the United Kingdom, who are qualified investors, being persons falling within the meaning of Article 2(e) of Prospectus Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the “UK Prospectus Regulation”), and who (i) have professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”); or (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations, etc”) of the Order; or (c) persons to whom it may otherwise be lawfully communicated (each such person in (a), (b) and (c), a “Relevant Person”). This Announcement and the information in it must not be acted on or relied on by persons who are not Relevant Persons. Persons distributing this Announcement must satisfy themselves that it is lawful to do so. Any investment or investment activity to which this Announcement or the Placing relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This Announcement does not itself constitute an offer for sale or subscription of any securities in the Company.

This Announcement is not being distributed by, nor has it been approved for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended (“FSMA“) by, a person authorised under FSMA. This Announcement is being distributed and communicated to persons in the United Kingdom only in circumstances in which section 21(1) of FSMA does not apply.

Investors Resident in the United States

This Announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This Announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or with any securities regulatory authority of any state or jurisdiction of the United States, and may not be offered or sold in the United States, except pursuant to an applicable exemption from the registration requirements of the U.S. Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. No public offering of the Placing Shares is being made in the United States or elsewhere.

Investors Resident in Canada

This Announcement is not an offer of securities in Canada. The Canadian Agents have been retained to act as agents in connection with the Canadian Offering to conditionally offer Placing Shares for sale if, as and when issued by the Company and accepted by the Canadian Agents on a “best efforts” basis in accordance with the terms and conditions contained in the Agency Agreement. The Canadian Offering is being made in each of the provinces and territories of Canada, except Québec. Placing Shares will be offered in such provinces and territories through those Canadian Agents or their affiliates who are registered to offer Placing Shares for sale in such provinces and territories and such other registered dealers as may be designated by the Canadian Agents. Prospective investors in the Canadian Offering should rely only on the information contained or incorporated by reference in the Canadian Prospectus. The Company and the Canadian Agents have not authorised anyone to provide purchasers with information different from that contained or incorporated by reference in the Canadian Prospectus.

No Prospectus Outside Canada

Other than in Canada as contemplated pursuant to the terms of the Agency Agreement, no public offering of the Placing Shares is being made in the United States, United Kingdom or elsewhere. No prospectus will be made available in the United Kingdom, the United States or elsewhere (other than in Canada) in connection with the matters contained in this Announcement and all offers of the Equity Fundraise Shares, Glencore Subscription Shares and the Open Offer Shares will be made pursuant to an exemption from the requirement to produce a prospectus under the Prospectus Regulation (EU) 2017/1129 (as supplemented by Commission Delegated Regulation (EU) 2019/980 and Commission Delegated Regulation (EU) 2019/979), as amended from time to time and including any relevant implementing measure in any member state and / or as transposed into the laws of the United Kingdom pursuant to the European Union (Withdrawal) Act 2018.

Cautionary Statements Regarding Forward-Looking Information

This Announcement contains “forward-looking information” including as that term is defined under applicable Canadian securities legislation. Such information includes but is not limited to, the intended use of proceeds, the launch and closing of the anticipated Bookbuild; and the receipt of required approvals, including the approval of the shareholders of the Company and the TSX. Generally, forward-looking information can be identified by the use of words such as “plans”, “expects” or “is expected”, “scheduled”, “estimates” “intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such information. These risks include, without limitation, risks related to AIM Admission and the approval of the TSX and other applicable securities regulatory authorities, a failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for nickel and cobalt products, other risks and uncertainties related to the Company’s prospects, properties and business as well as those risk factors discussed or referred to herein and in the Company’s disclosure record, including in its annual information form for the year ended December 31, 2020 filed with the securities regulatory authorities in all territories and provinces of Canada, other than Quebec, and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. 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 information. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information. The information in this Announcement is subject to change.

Other Cautions

BMO Capital Markets Limited, which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company and for no one else in connection with the UK Placing and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the UK Placing or any other matter referred to in this Announcement and will not be responsible to anyone other than the Company in connection with the UK Placing or for providing the protections afforded to their respective clients or for giving advice in relation to the UK Placing or any other matter referred to in this Announcement.

Peel Hunt LLP, which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company and for no one else in connection with the UK Placing and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the UK Placing or any other matter referred to in this Announcement and will not be responsible to anyone other than the Company in connection with the UK Placing or for providing the protections afforded to their respective clients or for giving advice in relation to the UK Placing or any other matter referred to in this Announcement. Peel Hunt LLP’s responsibilities as the Company’s nominated adviser under the AIM Rules for Nominated Advisers are owed solely to the London Stock Exchange and are not owed to the Company or to any Director or to any other person.

H&P Advisory Ltd, which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company and for no one else in connection with the UK Placing and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the UK Placing or any other matter referred to in this Announcement and will not be responsible to anyone other than the Company in connection with the UK Placing or for providing the protections afforded to their respective clients or for giving advice in relation to the UK Placing or any other matter referred to in this Announcement.

In connection with the Placing, the Joint UK Bookrunners, the Canadian Agents and any of their respective affiliates, acting as investors for their own account, may take up a portion of the shares in the Placing as a principal position and in that capacity may retain, purchase, sell, offer to sell for the own accounts or otherwise deal for their own account in such shares and other securities of the Company or related investments in connection with the Placing or otherwise. Accordingly, references to Placing Shares being offered, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or acquisition, placing or dealing by, the Joint UK Bookrunners, the Canadian Agents and any of their respective affiliates acting in such capacity. In addition, the Joint UK Bookrunners, the Canadian Agents and any of their respective affiliates may enter into financing arrangements (including swaps) with investors in connection with which the Joint UK Bookrunners, the Canadian Agents and any of their respective affiliates may from time to time acquire, hold or dispose of shares. None of the Joint UK Bookrunners nor any of the Canadian Agents intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

This Announcement is being issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by or on behalf of any of the Joint UK Bookrunners or any of the Canadian Agents (apart from, in the case of the Joint UK Bookrunners, the responsibilities or liabilities that may be imposed by the Financial Services and Markets Act 2000, as amended (“FSMA”) or the regulatory regime established thereunder) and/or by any of their respective affiliates and/or any of their respective Representatives as to, or in relation to, the accuracy, adequacy, fairness or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or their respective advisers or any other statement made or purported to be made by or on behalf of any of the Joint UK Bookrunners, any of the Canadian Agents and/or any of their respective affiliates and/or by any of their respective Representatives in connection with the Company, the Equity Fundraise Shares, the Glencore Subscription Shares, the Open Offer Shares, the Proposed Funding Package or the Open Offer and any responsibility and liability whether arising in tort, contract or otherwise therefor is expressly disclaimed. No representation or warranty, express or implied, is made by any of the Joint UK Bookrunners, any of the Canadian Agents and/or any of their respective affiliates and/or any of their respective Representatives as to the accuracy, fairness, verification, completeness or sufficiency of the information or opinions contained in this Announcement or any other written or oral information made available to or publicly available to any interested party or their respective advisers, and any liability therefor is expressly disclaimed.

The information in this Announcement may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, reproduction or disclosure of this Announcement, in whole or in part, is unauthorised. Failure to comply with this directive may result in a violation of the U.S. Securities Act or the applicable laws of other jurisdictions.

This Announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the Placing Shares. Any investment decision to buy Placing Shares must be made solely on the basis of publicly available information. This Announcement does not constitute a recommendation concerning any investor’s options with respect to the Placing. Recipients of this Announcement should conduct their own investigation, evaluation and analysis of the business, data and other information described in this Announcement. The price and value of securities can go down as well as up and investors may not get back the full amount invested upon the disposal of the shares. Past performance is not a guide to future performance. The contents of this Announcement are not to be construed as legal, business, financial or tax advice. Each investor or prospective investor should consult his or her or its own legal adviser, business adviser, financial adviser or tax adviser for legal, business, financial or tax advice.

Any indication in this Announcement of the price at which the Company’s shares have been bought or sold in the past cannot be relied upon as a guide to future performance. Persons needing advice should consult an independent financial adviser. No statement in this Announcement is intended to be a profit forecast or profit estimate for any period and no statement in this Announcement should be interpreted to mean that earnings, earnings per share or income, cash flow from operations or free cash flow for the Company for the current or future financial periods would necessarily match or exceed the historical published earnings, earnings per share or income, cash flow from operations or free cash flow for the Company.

The Equity Fundraise Shares and the Glencore Subscription Shares to be issued pursuant to the Proposed Funding Package will not be admitted to trading on any stock exchange other than AIM and the TSX. The Equity Fundraise Shares will, when issued in accordance with the rules of the TSX, form part of the Ordinary Shares of the Company currently listed for trading on the TSX.

Neither the content of the Company’s website (or any other website) nor the content of any website accessible from hyperlinks on the Company’s website (or any other website) is incorporated into, or forms part of, this Announcement.

This Announcement has been prepared for the purposes of complying with applicable law and regulation in the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside the United Kingdom.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: Horizonte Minerals PLC

View source version on accesswire.com:
https://www.accesswire.com/675044/Horizonte-Minerals-PLC-Announces-Posting-of-Circular-and-Notice-of-General-Meeting







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Today’s News

Huntsman Closes $2.1 Million Private Placement

VANCOUVER, BC / ACCESSWIRE / November 29, 2021 / Huntsman Exploration Inc. (TSXV:HMAN)(OTC PINK:BBBMF) (the "Company" or "Huntsman") is pleased to announce…

VANCOUVER, BC / ACCESSWIRE / November 29, 2021 / Huntsman Exploration Inc. (TSXV:HMAN)(OTC PINK:BBBMF) (the “Company” or “Huntsman“) is pleased to announce that it has closed a private placement of 31,027,529 shares of the Company at $0.07 per share for total gross proceeds of $2,171,927.

For its efforts in finding certain placees, the Company paid a total of $114,092.81 in finder’s fees to an arm’s length party.

Two insiders of the Company participated in the private placement for aggregate subscriptions of 882,857 shares. Participation of insiders of the Company in the private placement constitutes a related party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company has relied on the exemption from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(a) of MI 61-101 and the exemption from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI 61-101.

Proceeds of the private placement will be used for exploration on the Company’s Canegrass property, acquisition costs relating to the final payment and exploration work on the Baxter Spring property, and general working capital. All securities issued under the placement will be subject to regulatory hold periods expiring four months and one day from the date of issue..

Canegrass Property Update

With funding for future exploration work now secured, the Company looks forward to providing a further detailed update with respect to the planned exploration program at Canegrass once it is finalized in the coming weeks.

The Company also wishes to advise that as part of the Western Australian Mining Act, the Company is required to surrender 40% of its tenement tenure on the sixth anniversary of the tenements grant date which has since passed. The original tenure consisted of 14 exploration blocks and as such, the Company was required to surrender 6 of the existing exploration blocks.

A comprehensive review of the exploration potential for nickel and base metals was conducted by the Company together with its consultants, and it was concluded that the tenure surrendered was deemed the least prospective given the levels of historical exploration conducted and would not in any way hinder the Company’s exploration efforts at the Canegrass Project on a go forward basis.

A map of the new tenement outline is included in Figure 1.

Figure 1: Updated Tenure at Canegrass

On Behalf of the Board of Huntsman Exploration Inc.

Scott Patrizi
President and Chief Executive Officer

For more information, please contact 1-855-584-0160 or [email protected].

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.

Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

SOURCE: Huntsman Exploration Inc.

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https://www.accesswire.com/674945/Huntsman-Closes-21-Million-Private-Placement






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Today’s News

Nexa Resources Provides Update on Voluntarily Delist of Its Shares at the Toronto Stock Exchange

LUXEMBOURG / ACCESSWIRE / November 29, 2021 / Nexa Resources S.A. ("Nexa Resources" or "Nexa" or the "Company") (NYSE:NEXA)(TSX:NEXA) announces that the…

LUXEMBOURG / ACCESSWIRE / November 29, 2021 / Nexa Resources S.A. (“Nexa Resources” or “Nexa” or the “Company”) (NYSE:NEXA)(TSX:NEXA) announces that the Company has received approval for a voluntarily delisting of its common shares (“Common Shares”) from the Toronto Stock Exchange (“TSX”) in Canada.

According to TSX information, the last trading for the Common Shares in Toronto will take place on November 30, 2021. As previously disclosed, the Company’s Common Shares will continue to be listed and trade on the New York Stock Exchange (“NYSE”) under the symbol “NEXA”.

Furthermore, Nexa intends to apply to cease to be a reporting issuer under applicable Canadian securities laws, subject to the satisfaction of applicable regulatory requirements.

About Nexa

Nexa is a large-scale, low-cost integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America. Nexa currently owns and operates five long-life underground mines – three located in the Central Andes of Peru and two located in the state of Minas Gerais in Brazil – and is developing the Aripuanã Project as its sixth underground mine in Mato Grosso, Brazil. Nexa also currently owns and operates three smelters, two located in Brazil and one in Peru, Cajamarquilla, which is the largest smelter in the Americas. Nexa was among the top five producers of mined zinc globally in 2020 and also one of the top five metallic zinc producers worldwide in 2020, according to Wood Mackenzie.

Cautionary Statement on Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to in this news release as “forward-looking statements”). Forward-looking statements contained in this news release may include, but are not limited to, zinc and other metal prices and exchange rate assumptions, projected operating and capital costs, metal or mineral recoveries, head grades, mine life, production rates, and returns; the Company’s potential plans; the estimation of the tonnage, grade and content of deposits and the extent of the Mineral Resource and Mineral Reserve estimates; timing of commencement of production; exploration potential and results; the timing and receipt of necessary permits for future operations; the impacts of COVID-19 in our operations.

These statements are based on information currently available to the Company and the Company provides no assurance that actual results and future performance and achievements will meet or not differ from the expectations of management or qualified persons. All statements other than statements of historical fact are forward-looking statements. The words “believe,” “will,” “may,” “may have,” “would,” “estimate,” “continues,” “anticipates,” “intends,” “plans,” “expects,” “budget,” “scheduled,” “forecasts” and similar words are intended to identify estimates and forward-looking statements. Forward-looking statements are not guarantees and 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 expressed or implied by the forward-looking statements. Actual results and developments may be substantially different from the expectations described in the forward-looking statements for a number of reasons, many of which are not under our control, among them, the activities of our competition, the future global economic situation, weather conditions, market prices and conditions, exchange rates, and operational and financial risks. The unexpected occurrence of one or more of the abovementioned events may significantly change the results of our operations on which we have based our estimates and forward-looking statements. Our estimates and forward-looking statements may also be influenced by, among others, legal, political, environmental, or other risks that could materially affect the potential development of the Project, including risks related to outbreaks of contagious diseases or health crises impacting overall economic activity regionally or globally.

These forward-looking statements related to future events or future performance and include current estimates, predictions, forecasts, beliefs and statements as to management’s expectations with respect to, but not limited to, the business and operations of the Company and mining production, our growth strategy, the impact of applicable laws and regulations, future zinc and other metal prices, smelting sales, capex, expenses related to exploration and project evaluation, estimation of Mineral Reserves and/or Mineral Resources, mine life and our financial liquidity.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable and appropriate by management and qualified persons considering their experience are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Statements concerning future production costs or volumes are based on numerous assumptions of management regarding operating matters and on assumptions that demand for products develops as anticipated, that customers and other counterparties perform their contractual obligations, full integration of mining and smelting operations, that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labor disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations in metal prices, exchange rates, or the cost of energy, supplies or transportation, among other assumptions.

Estimates and forward-looking statements refer only to the date when they were made, and we do not undertake any obligation to update or revise any estimate or forward-looking statement due to new information, future events or otherwise, except as required by law. Estimates and forward-looking statements involve risks and uncertainties and do not guarantee future performance, as actual results or developments may be substantially different from the expectations described in the forward-looking statements. Further information concerning risks and uncertainties associated with these forward-looking statements and our business can be found in our public disclosures filed under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov).

For further information, please contact:

Roberta Varella – Head of Investor Relations
[email protected]
+55 11 3405-5601

SOURCE: Nexa Resources S.A.

View source version on accesswire.com:
https://www.accesswire.com/675142/Nexa-Resources-Provides-Update-on-Voluntarily-Delist-of-Its-Shares-at-the-Toronto-Stock-Exchange




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