Global Energy Metals Corp (TSX-V:GEMC) (GEMC) told investors it will undertake a strategic review of its Lovelock Mine and Treasure Box projects in Nevada after taking full ownership of the projects.
The company said owning 100% of the projects simplifies decision-making and provides the optimal structure to oversee the rapid exploration and development of key US-based battery minerals projects at a time when securing the future supply of critical minerals required for a North American battery supply chain is a top priority.
The projects have the potential to play a role in the growing battery metals market, GEMC added.
“Lovelock Mine and Treasure Box are highly prospective, drill-ready, copper, nickel, cobalt exploration projects, positioning these assets as a high-priority for future development to potentially benefit from the near to mid-term expected supply shortages with battery minerals,” Global Energy Metals’ CEO Mitchell Smith said in a statement.
“Additionally, the projects are located in Nevada, a strong mining jurisdiction with a history of support for the development and operation of base-metal projects.”
As part of the review, the company said it has engaged Dahrouge Geological Consulting USA to undertake a detailed evaluation of the projects and prepare a National Instrument 43-101 compliant technical report for one or both of the projects.
It noted that it has previously engaged Dahrouge Geological for mineral exploration activities at the projects.
GEMC said the strategic review could involve a potential sale of all or part of the projects, a merger or other business combination with another party, or forming a separate company to hold the mining assets.
“We will consider all potential options that result from this tactical review and see this well-timed calculated undertaking as a way to maximize value for shareholders,” Smith added.
GEMC offers investment exposure to the growing rechargeable battery and electric vehicle (EV) market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.
Contact the author at stephen.gunnion@proactiveinvestors.com