The Prospectors & Developers Association of Canada (PDAC) convention 2023 is in full swing in Toronto, with the challenges and opportunities around the decarbonization of mining a key theme at the event.
During her keynote address on Monday morning, Rio Tinto chief executive, minerals Sinead Kaufman spoke about the mining giant’s commitment to decarbonizing its operations.
First Phosphate Corp. (CSE:PHOS) revealed that it has engaged P&E Mining Consultants Inc to complete a Preliminary Economic Assessment (PEA) on its flagship Lac à l'Orignal Phosphate project, in the Saguenay-Lac-Saint-Jean region of Quebec.
The company said it has got P&E to lead the PEA, which will utilize the latest Mineral Resource estimate completed by P&E in November 2022.
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) CEO Kirill Klip told shareholders that the company is pleased with another significant investment into its royalty project Los Azules, which is owned by McEwen Mining Inc (TSX:MUX, NYSE:MUX).
Earlier, McEwen Mining announced another US$30 million investment by Nuton LLC, a Rio Tinto venture.
American Resources Corporation (NASDAQ:AREC) has announced that its subsidiary American Carbon Corporation has commissioned its McCoy Elkhorn processing facilities in Pike County, Kentucky for internal processing, third-party processing, and carbon loading businesses.
The company said commissioning of the processing plant will enable additional growth opportunities and enhance margins from existing production.
BioVie Inc (NASDAQ:BIVI) has announced additional preliminary findings from the Parkinson’s disease Phase 2 trial of its drug NE3107, showing a significant improvement over the current standard of care (SOC).
The preliminary findings show that significantly more patients treated with NE3107 were considered to be in what’s called the “on” state of muscle control in the morning after withholding their usual (SOC) for at least 8 hours before taking their usual morning Parkinson’s medications when compared to a placebo.
Graphene Manufacturing Group Ltd (TSX-V:GMG, OTC:GMGMF) (GMG) has provided an update on its ongoing investment in its Battery Development Centre (BDC).
The Australia-based clean-tech company said critical members of its Battery Team have visited its United Kingdom partners to inspect and test the partially automated cell assembly equipment.
G Mining Ventures Corp (TSX-V:GMIN, OTCQX:GMINF) has updated on the progress at its 100%-owned Tocantinzinho Gold Project (TZ) in Brazil where it recently hosted investor and analyst site visits.
Advancements at TZ include detailed engineering, procurement, equipment delivery, workforce ramp up, construction, and progress on open pit mining, the company said, adding that the project remains on track and on budget for commercial production in the second half of 2024.
Predictmedix Inc. (CSE:PMED, OTCQB:PMEDF) has announced a purchase agreement with Defspace, an India-based global platform for defence, space and aerospace, for the company's Safe Entry's Fit for Duty screening.
The company said Defspace will lease four Safe Entry Stations which will be used by their clients in the defence and aerospace sector to screen their workforce for signs of impairment - an issue that hinders productivity and threatens health and safety across all operations. The total value of the purchase order is approximately $500,000 for the entire term, it added.
Carlyle Commodities Corp (CSE:CCC, OTC:DLRYF) said it has closed a second tranche of its previously announced $250,000 unit offering consisting of 140,000 Units for gross aggregate proceeds of $35,000. Each unit consists of one common share in the capital of the company and one-half of one share purchase warrant, with each full warrant entitling the holder to purchase one additional share at a price of $0.375 each for a period of thirty-six months following issuance. The aggregate proceeds of the first and second tranche of the offering, which are approximately $220,000, are anticipated to be used for general working capital. No finder's fees were paid in connection with the closing of the second tranche. The company anticipates closing a third and final tranche in the coming week. All securities issued in connection with the Second Tranche are subject to a statutory hold period expiring four months and one day after the date of issuance.
Pure Gold Mining Inc (TSX-V:PGM, LSE:PUR, OTC:LRTNF) said it has filed a court application with the Supreme Court of British Columbia, to be heard on March 7, 2023, seeking to extend the stay of proceedings in the company’s ongoing Companies’ Creditors Arrangement Act (CCAA) proceedings up to and including May 8, 2023, and approval of an Amended Interim Financing Term Sheet to provide for an increase to the authorized borrowings under the Interim Facility from US$10 million to US$15 million on substantially the same terms to the previously approved Interim Financing Term Sheet between a fund managed by Sprott Resource Lending Corp as lender and the company as borrower. PureGold said it believes that the duration of the proposed stay extension and associated financing will provide it sufficient time to make necessary decisions on how to advance its restructuring efforts. PureGold intends to continue to engage in discussions with Sprott and interested third parties concerning a possible transaction. The PureGold Mine near Red Lake, Ontario remains in a state of care and maintenance and is expected to remain in such state for the duration of the CCAA proceedings. PureGold also announced that Terry Smith, its chief operating officer and Bryan Wilson, VP Mine General Manager have submitted their resignations, effective March 10, 2023 and March 16, 2023, respectively. Smith and Wilson have each committed to remain with the company until their respective departure dates to support an orderly transition.
X1 Entertainment Group Inc. (CSE:XONE, OTC:XOEEF) said that Mark Elfenbein has resigned as chief executive officer and a director of the company. It further announced that Adam Giddens has been appointed to the board of directors of the company, and has been appointed as chief executive officer. Giddens, a past CEO and director of the company, is a skilled capital markets professional with several years of experience in the industry. He has worked in a range of different positions from investor relations to business development and has helped raise money for both private and public companies across a wide range of industries.
Marble Financial Inc. (CSE:MRBL, OTC:MRBLF) has said it will issue an aggregate of $814,440.01 in principal amount of new unsecured convertible debentures in exchange for the full settlement and discharge of $814,440.01 in principal and interest owing on its Series 2021-04.PP-CD30-A unsecured convertible debentures. The new debentures will be subject to a hold period of four months and one day following the date of issue. The new debentures will mature on July 31, 2023, and will bear simple interest at a rate of 10% per annum payable on the maturity date.
Western Magnesium Corp. (TSX-V:WMG, OTCQB:MLYF) said it has closed a first tranche of the non-brokered private placement previously announced on February 10, 2023, issuing 4,852,174 units for gross proceeds of US$320,884. The total unit offering is for gross proceeds of US$1,500,000. Proceeds of the private placement will be used for working capital. Each unit in the offering consists of one common share in the capital of the company at a price of US$0.07 and one common share purchase warrant at a price of US$0.19. Each warrant will be exercisable into one common share for a period of one year. The securities to be issued will be subject to a statutory hold period in Canada for a period of four months and one day from the closing date.
Appia Rare Earths & Uranium Corp. (CSE:API, OTCQB:APAAF) has announced that it will be exhibiting at the annual 2023 Prospectors & Development Association of Canada Convention (PDAC), the world's premier mineral exploration & mining event. The company invited all its shareholders and conference delegates to visit it at booth #2715 in the Investors Exchange, South Building. The in-person event will be held at the Metro Toronto Convention Centre (MTCC) from Sunday, March 5 to Wednesday, March 8, 2023
OTC Markets Group Inc. (OTCQX:OTCM), the operator of regulated markets for 12,000 US and international securities, has announced that Aker BP ASA, a Norwegian oil and gas company with an $18.5 billion market cap, has qualified to trade on the OTCQX Best Market asnd has today upgraded from the Pink market under the symbols AKRBF and AKRBY. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the US. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. “Aker BP is the leading independent oil and gas producer in Norway, producing above 400,000 barrels oil equivalent from a diversified asset base at low cost and with the lowest emission intensity in the industry. We plan for significant growth through several new, profitable field developments over the coming years which will drive further value creation for our shareholders. By joining the OTCQX Best Market, our goal is to generate a broader recognition and improve the attractiveness and availability of Aker BP as an investment opportunity for investors in the United States,” said David Tonne, CFO of Aker BP.
Nextech AR Solutions Corp. (CSE:NTAR, OTCQX:NEXCF) has announced that its CEO Evan Gappelberg will present at the Emerging Growth Conference on Wednesday, March 8, 2023 from 10.15am to 10.45am. After the presentation, Gappelberg may subsequently open the floor for an investor question and answer period. Questions may be submitted in advance to questions@EmergingGrowth.com or asked questions during the event. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available to registered attendees on EmergingGrowth.com and on the Emerging Growth YouTube Channel.
Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) announced that Steve Saviuk, CEO, will present live at the Life Science Investor Forum, hosted by VirtualInvestorConferences.com, on March 9th, 2023 at 11:30am. Register here: https://bit.ly/3IoXpvP. Saviuk will be available for 1x1 meetings between March 9-10, 13-14.
Africa Oil Corp (TSX:AOI) said it has repurchased a total of 344,300 Africa Oil common shares during the period of February 27, 2023 to March 3, 2023 under the previously-announced share buyback program. The company noted that all common shares repurchased under the share buyback program will be cancelled. Since September 27, 2022, up to an including March 3, 2023, a total of 20,512,373 Africa Oil common shares have been repurchased under the share repurchase program through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems, with a maximum of 40,482,356 Africa Oil common shares permitted to be repurchased over the period of 12 months beginning September 27, 2022 and ending September 26, 2023, or until such earlier date as the share repurchase program is completed or terminated by the company.