Amarillo Gold Corp CEO Mike Mutchler said the company “had a good year” as the mining-exploration company announced the financial results for the year ending December 31, 2021. "We had a good year," said Mutchler in a statement. "We continued to develop the Posse Gold Project, which attracted the attention of Hochschild Mining, a leading precious metals company.” He added: “As we said late last year when we announced Hochschild's proposed acquisition of Amarillo, we believe Hochschild is the right company to bring Posse into production, and we're looking forward to applying the same disciplined approach to our Lavras do Sul property, through Lavras Gold Corp." Cash on hand at the end of the year was $26 million, the company noted. Mara Rosa expenditures increased by $2.9 million in the fourth quarter due to $2.2 million continued spending on geotechnical and process plant engineering. Lavras Project costs increased by $1.2 million mostly due to drilling and assay costs, which increased by $0.7 million as drilling continued at the Matilde and Cerrito prospects. Other major expenses in the quarter related to fees associated with the Hochschild transaction.
Vuzix Corporation told investors that FAMUR Group, a global machinery and equipment provider to the energy, mining and bulk material handling industries, has adopted Vuzix M400 smart glasses as its remote support wearable of choice for its SIGMA (Service in Grid Monitoring Area) room. The company said FAMUR is systematically developing training tools using virtual reality, remote diagnostics and field service smart glasses technology to operate equipment for various industry sectors, in line with Industry 4.0 trends. "The use of Vuzix Smart Glasses continues to expand around the world and across an increasing breadth of industry verticals, commensurate with the growing awareness and acceptance of the many benefits our glasses bring to their users," Vuzix president and CEO Paul Travers said in a statement.
Deep-South Resources Inc. has released the voting results from the company's annual general meeting today (February 25). A total of 37,223,708 common shares were represented, or 25.44% of the votes attached to all outstanding shares. All of the matters submitted to the shareholders were approved by 99.97%. The following directors elected are John H Akwenye, Pierre Leveille, Jean-Luc Roy, Ally Angula, Tim Fernback, Thomas Tumoscheit and Pierre Matte. Chad Williams did not renew his Directorship for personal and business reasons. Matte has been appointed a director for the first time. He has over 20 years experience in the mining industry, the majority in Africa.
Boosh Plant-Based Brands Inc has provided updates relating to the distribution of its recently acquired Beanfields brand. "It's been practically a seamless integration between Team Boosh and Team Beanfields. Two major highlights in the integration have been our sales departments' ability to immediately connect with the majority of existing retail buyers, and simultaneously secured new key accounts within the last seven days," commented Jim Pakulis, CEO of Boosh in a statement. "Based on our analysis we anticipate the expansion into new stores including larger channels and box stores to continue," he added.
Falcon Gold Corp told investors it has increased its land position at the Gaspard property in central British Columbia from 3,955 hectares to 7,969 hectares. The explorer noted that the Gaspard property is in the Clinton Mining District near Spences Bridge. It covers similar geology to the Spences Bridge Gold Belt that hosts Westhaven Gold Corp's Shovelnose gold project and the Blackdome Zone gold-silver deposit owned by Tempus Resources. Year-round, all-season roads with a good network of active logging roads provide excellent access, it added.
Lion Copper and Gold Corp revealed that it has filed on SEDAR a National Instrument 43-101 Technical Report (NI 43-101) for the company's flagship MacArthur Copper project in Mason Valley, Nevada. The technical report is titled "Mineral Resource Estimate for the MacArthur Copper Project, Mason Valley, Nevada." The report is available on the company’s website at www.lioncg.com. In addition to the MacArthur Copper project, the Canadian company is advancing its exploration projects, including the Chaco Bear and Ashton properties in highly prospective regions in Canada’s British Columbia, and the Blue Copper project in Montana, in the United States.
Trillion Energy International Inc has updated shareholders on its SASB natural gas project in the southwestern Black Sea in Turkey's territorial waters in light of the Russian invasion of Ukraine and halting of the Nord Stream pipeline. In a statement, the company said it "does not expect to incur any adverse impact from the conflict currently and plans to proceed with its development schedule." Europe imports about 40% of its natural gas from Russia, but on February 22, 2022, Germany announced that it had halted certification of the Russian Nord Stream II natural gas pipeline to Europe.
Mandalay Resources Corporation has reported record fourth-quarter and full-year fiscal 2021 revenue and underlying earnings, which it attributed to the successful execution of its strategy, particularly its Costerfield gold-antimony mine in Australia. The Toronto-based company posted consolidated revenue of $72.9 million for the three months to December 31, 2021, its highest yet for a quarter, resulting in adjusted underlying earnings (EBITDA) of $40.6 million, also a record. It reported net income of $15.3 million, or $0.17 per share. "The main driver behind this is Costerfield's continued operational strength, making it a lynchpin to Mandalay's success today and going forward given its growing mineral reserves and resources,” president and CEO Dominic Duffy said in a statement.
Forward Water Technologies Corp has told investors it is seeing rapidly growing interest in various wastewater sectors for its technology as it reported fiscal third quarter 2021 financial results. The Toronto, Ontario-based company is commercializing its proprietary forward osmosis technology that allows manufacturers to clean their wastewater and reclaim up to 90% of the waste as clean water. “Moreover, the company is seeing the expansion of its business into the resource recovery sector where the concentration of natural occurring and process water streams improves the economic isolation of minerals such as lithium and other key metals, " CEO Howie Honeyman said in a statement accompanying the results.
American Eagle Gold Corp (TSX-V:AE) revealed that it has contracted leading exploration consultants CJ Greig and Associates to continue advancing its Nakinilerak (NAK) Copper-Gold Porphyry project in the Babine copper district of British Columbia. The Toronto, Ontario-based company said it is “fully funded” for its 2022 exploration program and is waiting for its permit to kick off drilling. American Eagle Gold has locked in CJ Greig and Associates to advise and execute the company’s exploration program on its NAK property. Well-known award-winning geologist Charlie Greig is the president of CJ Greig and Associates.
Great Panther Mining Limited has announced the appointment of its chairman, Alan Hair, as the company’s new interim CEO, effective immediately, following the resignation of Rob Henderson for personal reasons. Great Panther said it will develop, in due course, a transition plan for the appointment of a permanent CEO. “As Chair and Interim CEO, I look forward to working more closely with the senior executive team and the Board to continue to realize the potential of Tucano by returning it to steady-state production and advancing the exploration of our highly prospective land package in Brazil, including the development of our Urucum North underground project,” Hair said in a statement.
FSD Pharma Inc said it has entered into a “firm” agreement to sell its former cannabis processing facility located in Cobourg, Ontario, as well as the 64.4 acre property on which the facility is located. The company said the purchaser has agreed to pay C$16.5 million in cash for the facility and property, which includes a deposit of C$660,000. FSD noted the deposit was received on February 24, 2022, and the transaction is expected to close on May 31, 2022.
Esports Entertainment Group Inc has highlighted a strong start to calendar year 2022 for its iGaming division. The Hoboken, New Jersey-based full stack esports and online gambling company said its iGaming division, which holds five Tier-1 gaming licenses across Europe and the US, has delivered seven consecutive weeks of net gaming revenue more than $1 million to begin the quarter and 10 straight weeks in total dating back to December. In January, the iGaming division achieved its highest revenue month by reporting more than $6 million in revenue. In February, the company's casino brands reported record levels of first-time depositing users since the acquisition of Lucky Dino a year ago.
Silvercorp Metals Corp has provided updates on the construction plan and highlighted steady progress on its new flotation mill and tailings storage facility (TSF) at Henan Province in China. On November 16, 2021, the Vancouver, British Columbia-based mining company unveiled plans which showed it had started the process to build a 3,000-tonne per day flotation mill and tailings storage facility beside an existing mill presently operating at the Ying Mining District. Silvercorp has since made progress in several areas. The company said agreements to lease 123.46 hectares of land have been negotiated with the local community; the environmental assessment report and safety assessment report for the TSF have been completed and filed with the local county government, and the reports for the new mill have been drafted and are to be finalized pending completion of the preliminary engineering design of the new mill.
Progressive Planet Solutions Inc (TSX-V:PLAN) said the TSX Venture Exchange has accepted for filing the share purchase agreement dated December 17, 2021, among the company, the shareholders of Absorbent Products Ltd. (APL), 1111157 B.C. Ltd. and 0820443 B.C. Ltd. (collectively, the numbered companies). Under the agreement, the company is to purchase all of the shares of APL and the numbered companies in the business of processing industrial minerals based in British Columbia. In consideration, the company will pay cash payments of $11.3 million and issue 3,428,571 common shares at closing. Further consideration includes the issuance of shares up to 2,571,428 in each of year 1 and year 2 post-closing.
Lucky Minerals (TSX-V:LKY, OTC:LKMNF) Inc said the TSX Venture Exchange has accepted for filing the company's proposal to issue 1.5 million shares at a deemed price of 10 cents in consideration of certain services provided to the company pursuant to agreements dated March 22, 2021, and September 15, 2021.
Group Eleven Resources Corp said the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced February 3, 2022, and February 4, 2022, which will see the issue of 20,831,666 shares at a purchase price of 12 cents per share, together with :10,415,833 share purchase warrants with an exercise price of 18 cents for a two-year period with 39 placees.
ESE Entertainment Inc said the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced February 16, 2022, which will see the issue of debentures for a $1,575,000 principal amount: convertible, at the option of the holders, into 984,375 common shares at $1.60 per share until a maturity date two years from issuance, together with 393,750 share purchase warrants with an exercise price of $1.60 for a two-year period, subject to an acceleration right, at an Interest rate of 10.0% with 15 placees.
OTC Markets Group Inc, the operator of financial markets for over 11,000 US and global securities, has announced that American Pacific Mining Corp, a precious metals explorer, has qualified to trade on the OTCQX and has today upgraded from the OTCQB Venture Market. The OTCQX Market is designed for established, investor-focused US and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. "Moving from OTCQB to OTCQX is another great achievement for the Company as we strive to increase shareholder value," said Warwick Smith, CEO of American Pacific. "Upgrading to the OTCQX Best Market will provide the Company with greater exposure and access to the US markets while improving liquidity for the investment community both in Canada and the United States. We firmly believe that our clear global strategy, strong management team, operational infrastructure, global network, consumer messaging, and financial results will continue to drive shareholder value."