Canada Cobalt Works Jumps Almost 12% on Back of Positive Assays
Sometimes the market reacts as we think it should and sometimes it doesn’t. The recent market reaction to a Canada Cobalt Works, (TSXV: CCW) (OTC: CCWOF,) press release proves that good news still has the ability to move share prices in the right direction.
According to a November 2, 2018 story in mining.com Canada Cobalt Works shares rose almost 12% after the company hit high grades at its flagship property, the Castle Mine, located in the Cobalt silver/cobalt camp, near Cobalt in Northern Ontario.
Recent drilling at Castle returned high grade vales for cobalt, silver and nickel.
- 2.8% cobalt, 261 g/t silver and 1.65% nickel over 7.00 meters in hole CA18-001
- 1.87% cobalt, 4,763 g/t silver, 1.29% nickel and 1.19 g/t gold over 2.54 m in CA18-002
- 3.16% cobalt and 10,741g/t silver (345 ounces per tonne) over 0.60 meter in hole CA18-003
In the November 2, 2018 press release, president and CEO Frank Basa said: “These cobalt grades are very high in a global context and demonstrate the unique opportunity at the Castle mine, from which we have already created battery grade cobalt sulphate through our proprietary Re-2OX process for evaluation by clients in Asia and Europe,” To put the Castle mine cobalt assays into perspective, most cobalt is a fractional derivative of mining copper, nickel, manganese or arsenic. Low results, such as 0.5%. are considered a high grade for cobalt.
As well as showing cobalt grades at the top of their class, the press release also underlines that Canada Cobalt Works is working on a far sighted strategy that includes capturing as much of the Chinese market as possible.
According to the Cobalt Development Institute, 94% of cobalt is produced as a byproduct of copper and nickel mining. Of that more than 50% comes from the Democratic Republic of the Congo and is usually described as “conflict cobalt.”
Conflict cobalt is just one of the reasons that cobalt mining in North America and other parts of the world is taking off. Just as blood diamonds helped power Canadian diamond exploration, and production, conflict cobalt is driving the search for ethical cobalt in jurisdictions that are politically stable. Tesla, for instance has long been known to be searching out secure North American cobalt for its supply chain.
According to a story in the Financial Post the cost of cobalt has risen from US$22,000 a ton in 2016 to US$90,000 a ton in 2018.
Cobalt is considered a “Critical Raw Material,” because of its use in lithium-ion rechargeable batteries used not only by the military but the general public as well. These are the batteries that power electric cars, (EVs), laptops and cell phones.
While consumer electronics will remain a strong battery metals driver EV demand is expected to multiply. A recent report by McKinsey&Company sates, “The underlying driver for both lithium and cobalt demand is the EV revolution, which is gathering pace. The latest estimates from McKinsey’s Future Mobility Initiative, suggests that global EV production will increase from 3.2 million units in 2017 to 13 to 18 million units to 26-36 million units in 2030.” The report also forecasts that China will account for 50%-60% of EVs by 2030.
Around the turn of the last century Cobalt in Northern Ontario went through a massive silver rush. Mines in the Greater Cobalt Camp produced over 500 million ounces of silver and over 30 million pounds of cobalt. Canada Cobalt Works has established a unique position for itself in the Cobalt Camp. It may also have a first mover advantage because of its advanced status.
Canada Cobalt owns the Castle Mine, which was formerly one of the highest grade silver-cobalt properties in the camp. Castle eventually closed down when silver prices went through a slump. As the price of cobalt began to rise, junior mines started exploring for cobalt in both abandoned mines and in green belts.
Canada Cobalt is the most advanced cobalt mine in development in the Cobalt Camp. It is the only mine that has permitted access to underground workings. Level 1 has now been modernized for safety and efficiency and the company intends to drill through the winter. Once again it is also the first company in the Cobalt Camp to start underground drilling. The company also believes it has found a new discovery 1.5 km east of the mine.
If you put the extremely high cobalt grades to one side, along with the silver, nickel and gold showings, Canada Cobalt also has an advantage that no other producer can offer. President and CEO Frank Basa has developed a proprietary metallurgical process to refine cobalt without the expense and time it would take to build a smelter. Not only is building a smelter expensive but the construction and break-in period would extend the length of time required before the cobalt can be produced and hit the markets.
Basa’s invention the Re-20X process pushes all the buttons that anyone could want. It reduces the amount of time it will take for CCW to market its cobalt. It is environmentally green, highly efficient and cost effective and scalable.
Tests at CCW’s Castle Mine pilot plant showed recoveries of 99% cobalt, 81% nickel, 84% manganese and it removed 99% of the arsenic.
CCW is a value added company and intends to market its cobalt as battery grade cobalt sulphate. At 22% cobalt sulphate hexahydrate the company’s production exceeds the technical specifications of battery producers in Asia. The company, thanks to its Re-20X process, has a revenue stream that few others produce. It can use Re-20X to reclaim battery and other metals form abandoned consumer electrics, computers, cell phones and laptops.
As matters now stand it looks as Canada Cobalt will be producing at least two out of the four battery metals now in demand, cobalt and nickel and may also be producing manganese, another battery metal. If investing in battery metals is on your radar, Canada Cobalt works may be the best in its class.
On November 12, 2018, Canada Cobalt Works (TSXV: CCW) (OTC: CCWOF,) was trading at $0.62.
This blog is written for educational purposes only. It should not be construed as investment advice. Every investor should perform their own due diligence. In the interests of transparency, Canada Cobalt Works is a client of Momentum Public Relations.
- Published in Blog, Canada Cobalt Works, Mining
SRG Graphite increases resource estimate at Lola by 54%
Momentum Public Relations
Press Release: June 18 2018
SRG Graphite Inc. has provided an updated mineral resource estimate for its 100-per-cent-owned Lola graphite deposit located in the Republic of Guinea. The 2018 mineral resource estimate represents an increase of 54 per cent of in situ graphitic carbon (Cg) at a 3-per-cent cut-off grade since the publication of the maiden resource. In preparation for the next phase of development of the project, several boreholes were completed to increase measured and indicated resources from inferred resources. As such, measured and indicated resources increased from 224,118 tonnes to 676,900 tonnes of Cg content at a 3-per-cent cut-off grade, an increase of 201 per cent.
The 2018 Mineral Resource Estimate, prepared by Montreal-based Met-Chem, a division of DRA Americas Inc. (“Met-Chem/DRA”), includes a pit-constrained measured and indicated resource of 12.2 million tonnes (“Mt”) grading 5.6% Cg and an inferred resource of 2.1 Mt grading 6.1% Cg, using a cut-off grade of 3.0% Cg. Effective date of the estimate is June 14, 2018.
The 2018 Mineral Resource Estimate replaces the maiden mineral resource estimate which was reported by SRG on December 22, 2017, and subsequently included in a Technical Report completed by Met-Chem/DRA with an effective date of September 30, 2017. A NI 43-101 Technical Report will be filed on SEDAR within 45 days of this news release providing the details of this resource update. Figure 1 provides a map of the current drilling program. Completed boreholes, assay results pending and boreholes to be completed can be viewed on the map.
Resource Summary
The mineral resources are based on 395 boreholes for 12,086 meters (“m”) drilled up to April 4, 2018. Since that time, an additional 162 diamond drill holes have been completed, for approximately 5,686 additional meters for a total of 17,954 meters. Assay results for these additional holes are pending. Drilling onsite is ongoing and an additional 3,000 meters of drilling are scheduled to take place in the second half of 2018.
The updated resource is established for the oxide profile of the deposit, from surface to a depth ranging between 20 and 50 meters, with an average thickness of 32 meters. The mineralization continues at depth within the fresh rock material, but drilling is stopped once fresh rock is reached. The area for the resources covers approximately 33% of the deposit’s 3.2-square-kilometer surface area.
The estimate was prepared using a block model constrained with 3D wireframes of the principal mineralized domains. Values for graphitic carbon were interpolated using Ordinary Kriging (OK) interpolation methodologies on 10 * 10 * 2m blocks. As in the previous resource estimate, a preliminary open pit optimization algorithm was run on the estimated grade block model. Only mineralization contained within the preliminary pit shell has been included in the resource estimate.The base case mineral resource estimate is summarized in the following table at a cut-off grade of 3.0% Cg together with estimate sensitivities at 1.64% Cg and 5.0% Cg.
LOLA GRAPHITE PROJECT MINERAL RESOURCES AT A CUT-OFF GRADE OF 3.0% CG AND SENSITIVITIES AT 1.64%CG AND 5.0% CG CUT-OFF GRADES Base case mineral resources Cut-off grade Classification Tonnes Cg In situ Cg Cg % (Mt) (%) (t) 3% Measured 1.40 5.32 74,700 Indicated 10.79 5.58 602,200 Total ind. and meas. 12.20 5.55 676,900 Inferred 2.06 6.07 125,200 Sensitivities Cut-off grade Classification Tonnes Cg In situ Cg Cg % (Mt) (%) (t) 1.64% Measured 2.13 4.31 91,900 Indicated 17.00 4.39 746,400 Total ind. and meas. 19.14 4.38 838,400 Inferred 2.82 5.07 143,000 Cut-off grade Classification Tonnes Cg In situ Cg Cg % (Mt) (%) (t) 5% Measured 0.60 7.14 42,700 Indicated 5.02 7.46 374,800 Total ind. and meas. 5.62 7.43 417,500 Inferred 1.18 7.54 88,700
About Met-Chem/DRA
Met-Chem, a division of DRA Americas Inc., was originally established in 1969 as a consulting engineering company, headquartered in Montreal, and provides a wide range of technical and engineering services. Met-Chem is well recognized for its capabilities in mining, geology and mineral processing and has a talented team of engineering, technical and project management personnel with experience in North America, Latin America, Europe, West Africa and India. DRA is a multidisciplinary global engineering group that originated in South Africa and delivers mining, mineral processing, energy, water treatment and infrastructure services from concept to commissioning, as well as comprehensive operations and maintenance services for the mineral resources, water, agriculture and energy sectors. DRA has offices in Africa, Australia, Canada, China, India and the United States.
Qualified Person
Dr. Marc-Antoine Audet, P.Geo., Lead Geologist, SRG was responsible for estimating the mineral resources and has reviewed and approved the contents of this press release. Dr. Audet is a non-independent Qualified Person (“QP”) within the meaning of NI 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Under subsection 5.3(1) paragraph (c), as the mineral resources have changed by less than 100% from the previous filing, an independent QP is not required for the filing of this mineral resource update.
ABOUT SRG
SRG is a Canadian-based company focused on developing the Lola graphite deposit and the Gogota nickel-cobalt deposit, both located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally and ethically responsible manner.
We seek Safe Harbor.
- Published in SRG Graphite
SRG Graphite Inc. Announces Underwriters’ Full Exercise of Over-Allotment Option
Momentum Public Relations
Press Release: June 15 2018
SRG Graphite Inc. (TSXV:SRG) (“SRG” or the “Company”) is pleased to announce that the syndicate of underwriters co-led by National Bank Financial Inc. and TD Securities Inc. and including Macquarie Capital Markets Canada Ltd., Beacon Securities Limited and Clarksons Platou Securities AS (collectively, the “Underwriters”) for its May 2018 public offering (the “Offering”) of units of the Company (“Units”) has fully exercised the over-allotment option (the “Over-Allotment Option”) granted under the Offering to purchase 800,100 additional Units at a price of $1.50 per Unit (the “Offering Price”) for additional gross proceeds to the Company of $1,200,150. This results in aggregate gross proceeds of the Offering, including the exercise of the Over-Allotment Option on the date hereof, of $9,201,150. In addition to the previously announced concurrent private placement with Coris Capital S.A., this brings the aggregate gross proceeds of the raise to $11,201,150.
Each Unit issued under the Over-Allotment Option is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant of the Company (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Common Share at an exercise price of $2.30 per Common Share at any time for a period of 12 months from the closing of the Offering as press released on May 18, 2018.
The Company intends to use the proceeds from the Offering and the Over-Allotment Option for advancement of the Company’s Lola graphite project, including, in the near term, to further regional exploration and infill resource drilling and to progress towards a feasibility study; for continued exploration of its Gogota cobalt-nickel-scandium project; and for general working capital purposes.
The Offering was made pursuant to a short form prospectus dated May 11, 2018 (the “Prospectus”), filed in each of the Provinces of Canada and available on SEDAR at www.sedar.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT SRG
SRG is a Canadian-based company focused on developing the Lola graphite deposit and the Gogota cobalt-nickel-scandium deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally and ethically responsible manner.
For additional information, please visit SRG’s website at www.srggraphite.com.
For more information contact: | |
Ugo Landry-Tolszczuk | Benoit La Salle, FCPA FCA |
Tel: +1 (514) 679-4196 | Tel: +1 (514) 951-4411 |
Email: ultolszczuk@srggraphite.com | Email: benoit.lasalle@srggraphite.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “reduce”, “suggest”, “opportunity”, “demonstrate”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would” or “might” occur. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) the Company’s use of proceeds of the Offering and the Over-Allotment Option may differ from those indicated; (ii) volatile stock price; (iii) the general global markets and economic conditions; (iv) the possibility of write-downs and impairments; (v) the risk associated with exploration, development and operations of mineral deposits; (vi) the risk associated with establishing title to mineral properties and assets; (vii) fluctuations in commodity prices and other risks and factors described or referred to in the sections entitled “Risk Factors” in the Annual Information Form of the Company and the Prospectus available at www.sedar.com, all of which should be reviewed in conjunction with the information found in this news release.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities and no material adverse change in mineral prices. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
- Published in SRG Graphite, Uncategorized
King’s Bay Commences Exploration Program at Trump Island Copper-Cobalt Project
King’s Bay Commences Exploration Program at Trump Island Copper-Cobalt Project
Momentum Public Relations
Press Release: July 26, 2017
Vancouver, British Columbia (FSCwire) – King’s Bay Resources Corporation (TSX.V: KBG), (FSE: KGB1), a mineral exploration and development company based in Vancouver Canada, is pleased to announce that it has received exploration permit approval and will commence an exploration program on its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned, Trump Island Copper-Cobalt Project on the northern coast of Newfoundland.
King’s Bay has assembled a technical field team to immediately investigate the historical geologic data from the past producing copper-cobalt mine at North Trump Island. Phase 1 of the program will include a localized geophysical survey, grab sampling in existing mine shaft and reconnaissance of the remainder of the island for new showings. Pending positive results, Phase 2 of the exploration program will potentially include a drilling program.
Property Overview
The North Trump Island Property consists of 8 mineral claims encompassing an area of 2 square kilometers and is located 7 kilometers south of town of Twillingate, Newfoundland and Labrador. The property is accessible by boat 1.5 kilometers east from the nearest boat launch at Tizzard’s Harbour on NL Hwy 345.
The property’s history dates back to the mid 1860’s when a 20-foot (6.1 m) shaft was sunk on a mineralized zone of massive chalcopyrite. At the bottom of the shaft, it was reported that the mineralized zone expanded with depth but, due to limited technology, no further excavation could be safely continued. Follow up grab sampling in 1999 by G. Lewis, an experienced local prospector, revealed mineralization assaying up to 3.80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 2.90 g/t Au and 10.9 g/t Ag near the old Clymo mine shaft. The property has not been drilled to date. The compilation of the recent 1998-99 field work done by Lewis suggests that a more detailed exploration program is warranted.
Exploration History
In 1863 Nicholas Clymo, a miner of Cornwall, United Kingdom visited the area and sunk a pit to a depth of 20 feet (6.1 m) which followed a 3 feet (0.9 m) wide mineralized zone that was said to increase in thickness with depth. He reported that a shipment of high grade copper-cobalt ore was shipped to Swansea, England as documented in the Newfoundland Provincial Mineral Rights Database. This shipment was said to be worth “40 pounds per fathom” (Clymo, 1863). In 1953, J. Kalliokoski of the Newfoundland Geologic Survey headed up a mapping and prospecting program for Newmont Mining Company in the area but no sample assays were reported. In the 1990s, G. Lewis conducted prospecting and limited rock and soil grab samples and filed a first-year assessment report in 1999 with the Newfoundland and Labrador Mineral Titles Branch.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America. The Company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as “King’s Bay”.
On Behalf of the Board
Kevin Bottomley CEO, President
For Investment Inquiries please contact:
Brad Hoeppner, Director
O: 604 681 1568
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kingsbay07262017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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Copyright © 2017 Filing Services Canada Inc.
- Published in King's Bay, Mining, News Home
King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
Momentum Public Relations
Press Release: July 6, 2017
Vancouver BC. (FSCwire) – King’s Bay Gold Corporation (TSX.V: KBG) (FSE: KGB1), operating as “King’s Bay”, a mineral exploration company based in Vancouver submits application to Newfoundland and Labrador Government, Department of Natural Resources for the commencement of phase 2 of the exploration program in south eastern Labrador.
Phase 2 of the Lynx Lake exploration program will involve ground truthing for the recently flown VTEM survey, which highlighted an area of low resistivity in the western pit of mineralization. The size of the anomaly is anticipated to be ranging in depth from 50-300meters and estimated to be approximately 400 meters in diameter. The “west pit” has been historically sampled yielding assays of up to 1.03{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Copper, 0.56{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cobalt, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Vanadium, 0.10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nickel and 5.0g/t Silver.
The exploration program will consist of a localized ground electromagnetic survey over the anomaly at 20-meter line spacing. It will also include reconnaissance for bedrock exposure in the underexplored anomalous area that runs south of the west pit.
About Lynx Lake
The Lynx lake Project has returned historical grab samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic unit surveys done by local prospectors have shown strong conductors beneath the overburden, and provide incentive to explore the area further for additional subsurface mineralization. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America. The company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as King’s Bay.
On Behalf of the Board,
Kevin Bottomley
CEO, President
Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/King’sBay07062017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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Copyright © 2017 Filing Services Canada Inc.
- Published in King's Bay, Mining, News Home
King’s Bay Announces $750,000 Non-Brokered Private Placements Financing
King’s Bay Announces $750,000 Non-Brokered Private Placements Financing
Momentum Public Relations
Press Release: June 26, 2017
Winnipeg, Manitoba (FSCwire) – King’s Bay Gold Corporation (the “Company”) (TSXV: KBG) (FSE: KGB1) (the “Company” or “King’s Bay”) is pleased to announce a non-brokered, non-flow through private placement financing for gross proceeds of $500,000 (the “NFT Private Placement”) and a non-brokered, flow-through private placement financing for gross proceeds of $250,000 (the “FT Private Placement”) (collectively, the “Private Placements”).
The NFT Private Placement will consist of the issuance of 5,000,000 units of the Company (each, a “Unit”), at $0.10 per Unit for gross proceeds of $500,000, with each Unit consisting of one common share of the Company and one non-transferable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.15 for a period of 24 months following the closing date.
The FT Private Placement will consist of the issuance of 2,000,000 flow-through shares of the Company (each, a “FT Share”), at $0.125 per FT Share for gross proceeds of $250,000. The private placement is subject to the approval of the TSX Venture Exchange. All the securities issued pursuant to the Private Placements will be subject to a restricted period of four-month and one day from the date of closing. There may be finder’s fee payable in connection with this placement.
All or a portion of the Offering may be completed pursuant to Multilateral CSA Notice 45-318 Prospectus Exemption for Certain Distributions through an Investment Dealer (“CSA 45-318”) and the corresponding instruments, orders and rules implementing CSA 45-318 in the participating jurisdictions (collectively with CSA 45-318, the “Investment Dealer Exemption”).
In order for the Company to be able to rely on the Investment Dealer Exemption, each subscriber must purchase the shares as principal and obtain advice regarding the suitability of the investment from a person that is registered as an investment dealer in the jurisdiction in which the subscriber is resident.
The Company intends to use the proceeds of the Private Placements as follows: $450,000 exploration expenditures, $100,000 salaries, $50,000 legal, accounting and regulatory fees, $100,000 unallocated working capital and $50,000 travel and promotion.
None of the securities issued in connection with the Private Placements will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there by any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
ON BEHALF OF THE BOARD OF DIRECTORS
King’s Bay Gold Corporation operating as King’s Bay
“Kevin Bottomley”
Kevin Bottomley
President and Chief Executive Officer
Tel: (604) 681-1568
Email: Kevin@kingsbayres.com
For investment inquiries please contact
Brad Hoeppner
Director
Tel: (604) 681-1568
Email: Brad@kingsbayres.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future planned exploration expenditures or acquisitions and closing on the $750,000 proposed financing are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that references to mineral resources that are not mineral reserves do not have demonstrated economic viability and assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kingsbaygold06262017_0.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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Not For Distribution to United States Newswire Services nor For Dissemination in the United States
- Published in King's Bay, Mining, News Home
King’s Bay Identifies VTEM Target at Lynx Lake Copper-Cobalt Project, Southeastern Labrador
King’s Bay Identifies VTEM Target at Lynx Lake Copper-Cobalt Project, Southeastern Labrador
Momentum Public Relations
Press Release: June 19, 2017
Vancouver. British Columbia (FSCwire) – King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1), operating as “King’s Bay”, a mining exploration and development company based in Vancouver Canada, is pleased to announce that after an in depth analysis of Geotech Ltd.’s VTEM geophysical survey, a high priority electromagnetic target has been located at King’s Bay’s 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx Lake Copper-Cobalt Project in southeastern Labrador.
After the data compilation and analysis of Geotech Ltd.’s. helicopter-borne Versatile Time Domain Electromagnetic System (VTEM), King’s Bay’s technical team has identified a shallow anomaly of high resistivity in what is known as the “west pit” which is directly adjacent to the Trans-Labrador Highway. The size of the anomaly is anticipated to be ranging in depth from 50-300 meters and estimated to be approximately 400 meters in diameter. The “west pit” has been historically sampled yielding assays of up to 1.03{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Copper, 0.56{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cobalt, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Vanadium, 0.10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nickel and 5.0g/t Silver.
Exploration Program
King’s Bay plans to assemble a technical field team immediately to investigate the VTEM anomaly. This summer’s program will be completed by executing a more local, higher resolution ground geophysical survey followed by potential stripping of overburden to the south of the pit so bedrock can be exposed. In addition to this, a reconnaissance team will begin to investigate the southeastern portion of the property to follow up on the anomalous historical soil samples. Detailed mapping and sampling in the two pits will aid in understanding of mineralization controls.
Kevin Bottomley states “The positive identification of an anomaly in the west pit will allow King’s Bay to initiate a highly focused exploration program at Lynx Lake with a relatively low cost. This is exactly what we were hoping for when we initiated the VTEM program with Geotech”.
About VTEM
The helicopter-borne Versatile Time Domain Electromagnetic System (VTEM) has a penetration depth of over 800 m, with a low Base Frequency (30Hz) for penetration through conductive overburden cover, coupled with a 2-3 meters High Spatial Resolution. This system is advertised to be able to delineate potential drill hole targets from the airborne results. In addition, it also has excellent resistivity discrimination to enable the detection of weak anomalies.
Lynx Lake Project
The Lynx Lake Copper-Cobalt Property consists of 959 mineral claims encompassing a land area of approximately 240 square kilometers, located 100 kilometers southeast of Happy Valley Goose Bay, Newfoundland and Labrador. Historic grab sampling on the property has returned samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic surveys done by local prospectors have shown strong conductors beneath the overburden, and provide incentive to explore the area further for additional subsurface mineralization. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway.
NI 43‐101 Disclosure
Edward Lyons, P. Geo. supervised the preparation of the technical information in this news release and is a qualified person as defined by National Instrument 43‐101.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America. The Company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as “King’s Bay”.
On Behalf of the Board
Kevin Bottomley CEO, President
For Investment Inquiries please contact:
Brad Hoeppner Director
O: 604 681 1568
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kingsbay06192017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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- Published in King's Bay, Mining, News Home
The Tesla Gigafactory: A Clean Energy Planet
The Tesla Gigafactory: A Clean Energy Planet
Tesla Motors is currently building a gigafactory. Some of you may be confused about what that is exactly, and why Tesla may need such a huge facility. When finished, the gigafactory will be the largest building in the world in terms of footprint, with 5.5 Million square feet. This will be second only to Boeing’s Everett factory (4.3 Million square feet). The endeavour is also very expensive, with an estimated cost of US$5 Billion. In line with Elon Musk’s goal to transition the world to renewable energy, the gigafactory will be entirely self-sufficient and powered by solar panels. The entire roof of the factory will be covered with solar cells, which are expected to produce 70MW of power. To give you an idea, the largest rooftop array in the world right now produces 11.5MW (in India).
A clean planet
Elon Musk recently stated in a Ted Talk that his ultimate goal is to make the world run entirely on renewable energy. To make this happen, he aims to produce 500,000 electric vehicles per year. This cannot be done economically if the parts have to be transported halfway across the world several times before the product is finished. Thus the need for a centralized facility, where the materials come in one end, and the finished vehicle comes out the other.
The gigafactory has already started producing the most innovative and crucial element of these cars: their lithium-ion batteries. And Tesla’s new 2170 battery cell is not only more efficient, but also cheaper than most on the market. The 2170 is around 10 per cent larger than its predecessor (the 18650 cell), but can store up to double the charge. It will also drop battery production cost by 25 per cent.
The essential element
In these super-powerful batteries is a crucial element: cobalt. For example, there is approximately 22.5 kilograms of it in Tesla’s Model S. The metal is currently mostly mined in the Democratic Republic of the Congo (DRC); where labour conditions are generally problematic and child labour is frequent. Consequently, Elon Musk has stated that all cobalt used by Tesla will only come from North America. Some have pointed out that it may be difficult to find enough ethical cobalt at feasible prices. But there is cobalt in North America, and King’s Bay (TSV:KBG, FSE:KGB1) is looking for it at the Lynx Lake Property in Labrador (Canada). The company is confident in the preliminary samples from the asset: “Grab samples from gossanous areas of the eastern rock pit have yielded assays up to 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co”. For the preliminary Versatile Time Domain Electromagnetic (VTEM) results, have a look at King’s Bay’s latest news release.
About King’s Bay
King’s Bay is a Vancouver based company focused on the exploration of cobalt, and other high-tech metals in North America. The company believes in this emerging fast-growth sector, and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as “King’s Bay”.
Juliette Benard
Media Relations Director
- Published in Blog, Energy, King's Bay, Mining, Technology
Lithium supply to outweigh demand by 2018, cobalt to remain tight: CRU
Lithium supply to outweigh demand by 2018, cobalt to remain tight: CRU
Dublin (Platts)–26 Apr 2017 952 am EDT/1352 GMT
Lithium supply was expected to outweigh demand as early as next year, UK-based consultancy CRU’s Rebecca Gordon said Wednesday, while the cobalt market should remain tight well into the next decade on continued supply shortness.
While massive growth in battery demand was set to see consumption of both metals soar in coming years, new lithium supply was expected to match demand by 2018, reaching a peak of 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of total supply by 2022, Gordon told a Minor Metals Trade Association meeting in Dublin.
“The 2016 lithium cost curve shows why prices had to rise so sharply,” Gordon said, referring to lithium carbonate and hydroxide spot prices of over $10,000/mt in 2017, having doubled in less than 12 months on rising expectations of a demand boom from battery metals and tightness in supply.
“By 2020, the picture has changed, with brine expansions and new hard rock production keep prices in check and $6,500-7,000 the new cost level.”
By that time, China’s brine resources in Tibet and Qinghai were expected to come online, reducing unit costs, while spodumene resources in Sichuan and lepidolite resources in Jianxi were “committed and probable”, Gordon said.
Even modest demand forecasts see annual lithium output growing to 500,000 mt by 2020 from around 200,000 mt currently.
BENCHMARK BATTERY PRODUCTION
According to Benchmark Mineral Intelligence’s Andy Miller, also speaking in Dublin, lithium-ion batteries developed in “gigafactories” around the world, such as Tesla’s in the US, were expected to top 175 GWh by 2020, up from around 30 GWh now.
Tesla has recently said it will reach total production by 2018, in which time it will produce more lithium-ion batteries than were produced worldwide in 2013.
With electric vehicle production expected to be around 500,000 cars per year by the end of the decade, Tesla alone will require all of current lithium production.
But the story is bigger than Tesla. Over 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of battery production in 2020 was expected in China, compared with around 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the US, Miller said.
“The lithium-ion industry is a China story,” Miller said, with Europe far behind.
Unlike CRU, Miller did not foresee supply outpacing demand in coming years and although he expected new spodumene supply to fill any deficit in the short term, prices should remain high on tightness.
The story for cobalt was similar, he said. Also a component in cathodes for lithium-ion batteries, prices have surged over 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the past 12 months on expectations of increased demand and supply tightness.
But whereas lithium supply has increased markedly in anticipation of greater demand, cobalt supply remained restricted.
Although traded on the London Metal Exchange, it is hard to access supply. Production is largely a byproduct of other metals such as nickel, so it is hard to get financing for projects based on cobalt prices, despite the recent spike.
The metal also comes nearly exclusively from the Democratic Republic of Congo, which brings with it significant supply risk, given issues around mining practice, including child labor.
CRU expected a deficit in both mined and refined cobalt supply this year and next and although stocks should be able to meet much of the increase in demand in the short term, new supply will be needed by 2020.
Artisanal supply was expected to play an important role, especially as a swing producer when supply is tight.
CRU has identified a number of processors located in the DRC around Kolowezi, Likasi and Lubumbashi, that sell concentrates believed to be derived from local small scale and artisanal operations, Gordon said.
Gordon estimated these produced around 10,500 mt of artisanal cobalt in 2015 and around 8,500 mt in 2016. She forecast around 10,000 mt this year.
At the same time, recycling remained a concern for both lithium and cobalt, accounting for a tiny proportion of refined supply currently.
With a 7-8 year life, electric vehicle battery recycling volumes should start to pick up after 2021 and producers such as Apple and Nissan have talked recently about the importance of battery recycling.
Both speakers agreed that more work was needed in terms of regulation or industry best practice in battery recycling to secure supply.
–George King Cassell, george.king.cassell@spglobal.com
–Edited by Dan Lalor, daniel.lalor@spglobal.com
- Published in Blog, King's Bay, Mining, News Home
King’s Bay (KBG:tsxv) Receives Preliminary Geophysical Maps From VTEM Plus Survey over Lynx Lake Copper-Cobalt Project
King’s Bay Receives Preliminary Geophysical Maps From VTEM Plus Survey over Lynx Lake Copper-Cobalt Project, Southern Labrador
King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1), operating as “King’s Bay”, a mining exploration and development company based in Vancouver Canada is pleased to announce that through preliminary assessment, several electromagnetic anomalies have been located across the 382 line kilometer area of interest, using Geotech’s, helicopter-borne Versatile Time Domain Electromagnetic (VTEM) Geophysical Survey over King’s Bay’s 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx Lake Copper-Cobalt Project in southeastern Labrador.
Geotech has provided King’s Bay with preliminary geophysical maps outlining the VTEM data. From the information provided, King’s Bay was able to identify several potential geophysical anomalies, one of which is located in the CA Pit that yielded historic assays of up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. Geotech Ltd. has advised King’s Bay that it expects to have the full report prepared by the end of April. Deliverables include magnetic, electromagnetic, and chargeability components. Once the final data is received, it will allow King’s Bay’s technical team to continue to develop and interpret these anomalies.
The helicopter-borne Versatile Time Domain Electromagnetic System (VTEM) has a penetration depth of over 800 m, with a low Base Frequency (30Hz) for penetration through conductive overburden cover, coupled with a 2-3 meters High Spatial Resolution. This system is able to delineate potential drill hole targets from the airborne results. In addition, it also has excellent resistivity discrimination to enable the detection of weak anomalies.
Lynx Lake Project
The Lynx Lake Copper-Cobalt Property consists of 959 mineral claims encompassing a land area of approximately 240 square kilometers, located 100 kilometers southeast of Happy Valley Goose Bay, Newfoundland and Labrador. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic surveys done by local prospectors have shown strong conductors beneath the overburden, and provide incentive to explore the area further for additional subsurface mineralization. A 3 phase powerline that is under construction from Muskrat Falls and the Trans-Labrador Highway cross the northern part of the Property.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America. The Company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as “King’s Bay”.
NI 43‐101 Disclosure
Edward Lyons, P. Geo. supervised the preparation of the technical information in this news release and is a qualified person as defined by National Instrument 43‐101.
On Behalf of the Board
Kevin Bottomley CEO, President
For Investment Inquiries please contact:
Brad Hoeppner Director
O: 604 681 1568
- Published in King's Bay, Mining, News Home