Top-News of the Week:
Uranium Energy secures top-class titanium project!
Uranium Energy recently announced, that the Company has exercised its previously disclosed option to acquire all of the issued and outstanding shares of CIC Resources (Paraguay) Inc. With the acquisition of CIC, Uranium Energy secures a timely and strategic opportunity to consolidate over 70,000 hectares making up the Alto Parana titanium project and its pilot plant for the benefit of UEC shareholders. Approximately US$25 million has been invested in this project to date by CIC Resources and its former JV partner, Tronox.
The real clou is, that in accordance with the terms of the Share Purchase and Option Agreement, the Company has to issue to the Vendor only 664,879 restricted common shares of the Company, at a deemed issuance price of US$1.5363 per Share, for aggregate consideration of US$1,021,453! In addition to the Consideration, the Company has also granted the Vendor a 1.5% net smelter returns royalty on the Property. Uranium Energy has the right to acquire one-half percent of the Royalty at a purchase price of US$500,000. The Company previously acquired all of the issued and outstanding shares of JDL Resources Inc., in exchange for a cash payment of US$50,000 and the issuance of 1,333,360 Shares to the Vendor. JDR holds additional titanium mineral property concessions that lie adjacent to and contiguous with the Property.
The Alto Paraná Titanium Project is an advanced exploration stage project located in eastern Paraguay, within the department of Alto Paraná, approximately 100 km north of Ciudad del Este. The Property covers an area of 70,498 ha of land under five mining permits granted by the Ministry of Public Works and Communications, Paraguay. The project is near Itaipu, the second largest hydro-electric dam in the world and a source of cost-effective power. Work to date on the Property has included an extensive program of pitting and auger drilling, development of a small test mine, construction of a pilot plant to evaluate the proposed beneficiation flow sheet, bench scale smelting tests, production of approximately 110 tons of concentrate for a large-scale smelting tests and associated engineering, marketing, logistical and environmental work.
UEC will now be working on preparing a proposed NI 43-101 Technical Report for the Property which will be released before the end of 2017 and is continuing to evaluate options to further unlock the potential value of these acquisitions.
News: Uranium Energy Corp Exercises Option to Acquire the Alto Paraná Titanium Project in Paraguay
Gold: fundamentally top, chart-technically a flop!
Gold shows two faces furthermore. While it doesn’t look not that bad from a fundamentally basis, at the chart-technical side there has been a double-top, which causes a drop of the gold-price.
But from the beginning: Fundamentally it didn’t look that good for a long time. India imported more than 520 tons of gold in the first half of 2017, which was 10 tons more than in the entire year 2016. Should India continue with this amount of imports, it may even reach the record import level of 2011, as it imported 1,079 tons.
Chart-technically, we saw a double-top, which sent the gold-price straight to the 1,200 US$ mark, where a four-month-low waits. At the moment, everything seems to be dependent from this week’s semiannual hearing of US federal bank president Janet Yellen at the US congress. Many market watchers await new knowledge regarding further interest rates adaptions. Whereupon the majority of the awaited interest increase(s) shall already been factored in.
Edison Research publishes spectacular course aim for Alabama Graphite!
Rye Patch Gold: commercial production in sight!
Edison Research, a leading independent investment research company, generating and distributing research to a global audience, including, investment banks, institutional investors, as well as professional investors and relevant members of the global investment community — has recently published an equity analyst Initiation of Coverage report on Alabama Graphite. In this context, the analysts set a spectacular course aim of CA$1.01, which is around seven times higher, than the current share price level.
News: Edison Research: Alabama Graphite price target 1,01 CAD
US Gold Corp. acquires Gold Bar North mining claims
A couple of days ago, Rye Patch Gold reported June and second quarter production results for the Florida Canyon mining operation.
Gold production began from the new South Heap Leach Pad of the Florida Canyon Mine in April 2017. The new pad has completed its first full cycle of leaching of 45 days. Secondary leaching and new placement of ore is continuing on the Phase 1A portion of the pad. Since April, a total of 12,678 ounces of gold and silver dore have been poured. The dore is comprised of 7,075 ounces of gold and 5,603 ounces of silver.
Therewith, the team around CEO Bill Howald continued to successfully ramp-up mine operations. Gold production in the second quarter exceeded the ramp-up plan by more than 1,500 ounces of gold and the mine is on track for third quarter 2017 commercial production.
News: Florida Canyon Mine On-Track for Q3
Fission Uranium starts summer drill campaign
Fission Uranium reported a couple of days ago, that preparations have begun for a CA$6.59 million summer work program at its PLS project in Canada's Athabasca Basin. The program will focus on two core goals: growing the recently-discovered, high-grade R1515W zone and accelerating progress towards pre-feasibility stage – a key milestone for eventual production at PLS.
Growing New Westernmost Zone: Seven holes (2,380m) will focus on expansion of the recently discovered high-grade, shallow and land-based R1515W zone. The R1515W is the westernmost zone on the 3.17km trend outlined by Fission as the Company pushes west from the Triple R deposit, towards the large, high-grade boulder field. To date, a total of eight holes have been drilled in the R1515W zone area, including results such as 12.0m @ 3.16% U3O8 (PLS17-553) followed by 14.5m @ 0.82% U3O8. The current mineralized strike length of the zone is 60m and this summer will seek to expand the strike length and width.
PLS has the potential to be the first open pit uranium operation in the Athabasca Basin in decades and, with mineralization at such a shallow depth, Fission Uranium is able to simultaneously accelerate its progress towards PFS stage – a key step on the road to possible future production – whilst continuing to expand the known mineralization at PLS.
News: Fission Accelerates Pre-Feasibility Work; Targets New Western Mineralization
Sierra Metals now trading at NYSE MKT!
Sierra Metals recently announced, that its common shares have been approved for listing on the NYSE MKT, and they are tradeable under the symbol “SMTS” since July 11, 2017. The Common Shares will continue to trade on the Toronto Stock Exchange and the Lima Stock Exchange (Bolsa de Valores de Lima).
The listing of the common shares on the NYSE MKT represents an important corporate milestone for Sierra Metals and another step in its plan to enhance shareholder value by increasing stock liquidity and exposure to institutional investors.
News: Sierra Metals to commence trading on NYSE MKT
Aguia Resources: private placement closed
Aguia Resources recently announced, that the Company has completed the final tranche of its previously announced brokered private placement offering. The private placement was closed in three tranches between June 30 and July 6, and consisted of the sale of an aggregate of 26,360,835 units of the Company at a price of $0.40 per unit for gross proceeds of $10,544,334.
The Company intends to use the net proceeds of the private placement to fund exploration at its Três Estradas Project, advance a bankable feasibility study at the Três Estradas Project, and fund corporate expenses.
News: Aguia Resources Limited Announces Final Closing of Private Placement
Video: Feed The World With Fertilizer
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