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ValOre Metals Corp. ("ValOre", or the "Company") (TSX-V: VO, OTC: KVLQF, Frankfurt: KEQ) today announced the intent to complete a non-brokered private placement financing (the "Offering) of up to 6,250,000 units (the " Units ") at a price of CDN$0.40 per Unit (the " Offering Price ") for gross proceeds of up to CDN$2,500,000. Each Unit will consist of one common share (a " Share ") in the capital of ValOre and one-half of one non-transferable common share purchase warrant (each whole common share purchase warrant being a " Warrant "). Each Warrant will be exercisable to acquire one Share at a price of CDN$0.60 per Share for a period of 24 months from the date of issuance.
ValOre intends to use the net proceeds raised from the Offering for additional exploration work on ValOre's Angilak Property uranium project in Nunavut Territory, Canada and the Company's Pedra Branca palladium platinum project in Brazil, as well as for general working capital.
The Company may pay finder's fees on a portion of the Offering, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation.
Certain insiders of ValOre will acquire Units in the Offering. Any participation by insiders in the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") . However, the Company expects such insider participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would not exceed 25% of the Company's market capitalization.
The closing of the Offering is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. There are no material facts or material changes regarding the Company that have not been generally disclosed.
ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre's team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.
On behalf of the Board of Directors,
For further information about, ValOre Metals Corp. or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at contact@valoremetals.com .
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
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.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Survey Defines Multiple Target Areas for Thompson-Style Nickel-Sulphide Deposits; Focused on Tier 1 High-Grade Nickel Discovery
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) ("CanAlaska or the "Company") is pleased to announce it has received and processed the results of an airborne Versatile Time Domain Electromagnetic ("VTEM Plus") and Horizontal Magnetic Gradiometer geophysical survey on its 100%-owned Hunter project in the Thompson Nickel Belt (Figure 1). Preliminary evaluation of the geophysical survey has identified several target areas within the Hunter Project (Figure 2). The survey was completed by Geotech Ltd. of Aurora, Ontario and consisted of 882 line-kms of surveying.
Figure 1 – Hunter Project Location Map
To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/2864/134175_7cbabfcfd4869b50_002full.jpg
The Hunter project is underlain by Archean rocks and Ospwagan Group metasediments with ultramafic intrusions. The project area was explored by a variety of companies from the 1950's to 2000's, which led to the discovery of the Mel nickel deposit, located immediately to the east of the project. In addition, historical drill intersections on the property and in the surrounding claims have high-grade nickel sulphide mineralization associated with ultramafic rocks within Ospwagan Group metasediments. The Ospwagan Group metasediments, specifically the Pipe Formation, are host to the world-class Thompson Nickel Deposit.
Figure 2 – Hunter Project Geophysical Survey Results and Priority Target Areas
To view an enhanced version of Figure 2, please visit: https://images.newsfilecorp.com/files/2864/134175_7cbabfcfd4869b50_004full.jpg
The Company's newly completed VTEM Plus survey shows a good correlation between the interpreted geology and geophysical survey data, both in the electromagnetic and magnetic responses. The survey highlights NE-SW magnetic lineament trends associated with variably conductive electromagnetic responses, interpreted to represent Ospwagan Group metasediments and associated ultramafics. In addition, the survey identified geophysical signatures that may suggest more Ospwagan Group metasediments (nickel deposit host stratigraphy) in the project area than previously documented. The VTEM Plus survey also confirmed that the modeled conductor interpreted to be the extension of the host geological horizons associated with the Mel nickel deposit to the east of the project area trend onto the Hunter project. The Company has identified three initial high-priority target areas based on the newly acquired survey data and the presence of known mineralized occurrences within and along trend of these targets. The Company is completing a 3D magnetic vector inversion (MVI) of the VTEM Plus survey data and Maxwell Modelling of electromagnetic anomalies to further refine drill targets.
CanAlaska CEO, Cory Belyk, comments, "This airborne survey has provided a significant amount of new detail to the Hunter project target inventory. The possible identification of additional host stratigraphy than was previously known highlights the value-add of this new survey to prioritize areas for future drilling campaigns. The Hunter project is just one piece of the Company's extensive land holdings in this prolific and world-class nickel belt that provides our shareholders with discovery opportunity of a critical metal for a clean energy future. CanAlaska is actively seeking joint venture partners to help move these nickel projects toward discovery."
CanAlaska's Hunter project encompasses 8,232 hectares within the world-class Thompson Nickel Belt. The Project is located 20 km north of Thompson, Manitoba, which has significant infrastructure and capacity that has supported previous exploration programs and mine development, including year-round highway access.
The Company is actively advancing a new uranium discovery on its West McArthur uranium project in the eastern Athabasca Basin. As part of the summer program, the Company reported a 6.3 metre long interval of elevated radioactivity in the basement of WMA067, 100 m below the unconformity. WMA067 is located along a newly defined exploration trend, approximately 6 kilometres along strike to the southwest of the Company's 42 Zone mineralization. The summer drilling program is part of a $5 million program operated by CanAlaska, which holds a 77.13% ownership in the project.
CanAlaska's latest on-site videos for the West McArthur project can be viewed at www.canalaska.com.
Metal Energy has acquired a 70% interest in the Manibridge nickel project, effective August 16, 2022, as a result of recent work programs. In addition, the Company has received notice from Metal Energy of their intention to acquire 100% ownership in the Manibridge project based on positive results from the phase 1 and phase 2 drilling programs. The Company has received a total of 5,000,000 Common Shares of Metal Energy (TSX:V MERG) and $100,000 cash as part of the notification of intent to achieve 100% ownership.
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska's Vice President, Exploration.
On behalf of the Board of Directors "Peter Dasler" Peter Dasler, M.Sc. President CanAlaska Uranium Ltd.
Cory Belyk, Executive VP and CEO Tel: +1.604.688.3211 x 306 Email: cbelyk@canalaska.com
Peter Dasler, President Tel: +1.604.688.3211 x 138 Email: info@canalaska.com
Neither 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.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134175
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Purepoint Uranium Group Inc. (TSXV: PTU) ("Purepoint" or the "Company") today provided an update on the broad array of geophysical programs underway this summer. This week the company commenced a helicopter-borne versatile time domain electromagnetic (VTEM) survey across four of its projects, collectively referred to as the Tabbernor Block, all of which lie on the eastern edge of the Athabasca Basin, Saskatchewan Canada.
"Our summer programs have focused on the advancement of seven projects within our portfolio," said Chris Frostad, Purepoint's President and CEO. "In combination with existing exploration data, these surveys will advance our entire pipeline of highly prospective projects to a drill ready state."
The Tabbernor Fault System (TFS) is a wide, >1500 km geophysical, topographic and geological structural zone that trends approximately northward along Saskatchewan's eastern boundary. Purepoint's research has shown that although none of the province's currently known uranium deposits have been directly linked to the north-south trending TFS, localized shear zones hosting uranium mineralization may have an associated north-south structural component.
Reactivation of the TFS may have coincided with the age of formation of large uranium deposits in the Athabasca Basin (Davies, 1998). Davies also concluded that structural similarities between the TFS and mineralized areas suggest that the fault system may have had a control on the location of mineralization. More specifically, he considered that several deposits, such as the Sue, Midwest, Dawn Lake and Rabbit Lake all demonstrate a north-south control and strong Tabbernor-like characteristics.
Purepoint has now staked claims to the south of the Athabasca Basin based on interpreted north-south lineaments linking the Key Lake and Millennium deposits, the Midwest and West Bear deposits, the Jeb and Raven deposits, and the Collins Bay and Eagle Point deposits.
Davies, J.R. (1998): The origin, structural style, and reactivation history of the Tabbernor fault zone, Saskatchewan, Canada; Masters thesis, McGill University, Montreal, Quebec, 105p.
The 100% owned Russell Lake Project is located near the south-central edge of the Athabasca Basin covering an area of 13,320 hectares. The project adjoins the Moore Lake Project, owned by Skyharbour Resources Ltd., with their high-grade Maverick Zone that returned 6.0% U3O8 over 5.9 metres from hole ML-199 (Skyharbour PR, Feb. 27, 2017). Also located near the southern edge of the Athabasca Basin is the Key Lake Mine, 22 km WSW, that produced over 200 million pounds of uranium at a grade averaging 2.3% U3O8 between 1983 and 1997.
The 100% owned Carson Lake Project is located near the north-eastern edge of the Athabasca Basin and covers an area of 4,972 hectares. Exploration is focused on basement-hosted uranium mineralization targets similar to the Eagle Point deposit situated 50 kilometers south-southwest of Carson Lake.
The Hook Lake JV Project is owned jointly by Cameco Corp. (39.5%), Orano Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%) as operator and consists of nine claims totaling 28,598 hectares situated in the southwestern Athabasca Basin. The Hook Lake JV Project is considered one of the highest quality uranium exploration projects in the Athabasca Basin due to its location along the prospective Patterson Lake trend and the relatively shallow depth to the unconformity.
Current exploration is targeting the Carter Corridor and the Patterson Lake Corridor that hosts Fission's Triple R Deposit (indicated mineral resource of 87,760,000 lbs U3O8 based on 2,186,000 tonnes at an average grade of 1.82% U3O8 - www.fissionuranium.com), NexGen Energy's Arrow Deposit (indicated mineral resource of 256,600,000 lbs U3O8 based on 2,890,000 tonnes at an average grade of 4.03% - www.nexgenenergy.ca) and the Spitfire discovery by the Hook Lake JV. The foregoing mineral resource disclosure is information about the properties adjacent to the Company's property and does not imply that the Company will obtain similar results from its own property.
Purepoint Uranium Group Inc. (TSXV: PTU) actively operates an exploration pipeline of 12 advanced projects in Canada's Athabasca Basin, the world's richest uranium region. Purepoint's flagship project is the Hook Lake Project, a joint venture with two of the largest uranium suppliers in the world, Cameco Corporation and Orano Canada Inc. The Hook Lake JV Project is on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit and encompasses its own Spitfire discovery (53.3% U3O8 over 1.3m including 10m interval of 10.3% U3O8). Together with its flagship project, the Company's projects stretch across approximately 185,000 hectares of claims throughout the Athabasca Basin. These claims host over 20 distinct and well-defined drill target areas with advanced geophysical surveys completed, and in some cases, have had first pass drilling performed.
Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.
For more information, please contact:
Chris Frostad, President & CEO Phone: (416) 603-8368 Email: cfrostad@purepoint.ca
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133874
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CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) ("CAT" or the "Company") reports that, further to its news release of July 5, 2022, announcing the completion of a detailed airborne geophysical survey on the South Preston Uranium Project in Canada's prolific Athabasca Basin, the Company has deployed an exploration team to the property in order to begin a highly anticipated exploration program
Two field crews will be conducting a variety of activities; including prospecting with gamma-ray spectrometers for radioactive bedrock and boulders in the areas over, and adjacent to, conductors identified by the recently completed airborne EM-magnetometer survey. The crews will map and sample any bedrock encountered in the target areas.
The team will also attempt to confirm the location of radioactive boulders and bedrock reported in historical records that are part of the Company's extensive database. The goal is to characterize these historical occurrences in terms that may provide a better understanding of the vectors toward mineralization, i.e., type of rock, size and angularity of boulders.
Additionally, bio-geochemical sampling of black spruce in the above-mentioned areas will occur using a grid approach, with profiles on a 150 metre spacing and 25 metre sample site spacing.
CAT's South Preston Uranium Project comprises 29,395 hectares, and shares ~50km of contiguous claim border with Azincourt Energy Corp. ("Azincourt" or "AAZ") which reported uranium enrichment within previously identified alteration zones. Azincourt recently reported the results of their 2022 Winter drill program and CAT is particularly encouraged by the results of the drilling that occurred in Azincourt's G-Zone, which is quite close to the border of CAT's claim block.
According to CAT CEO, Robert Rosner, "Our neighbour to the north, Azincourt Energy, recently reported highly encouraging results from its Winter drill program, and we are particularly interested in the drilling they did in the G-Zone. 9 holes were drilled in this zone that appear to be following a trend of hydrothermal alteration with each subsequent new drill hole getting closer and closer to CAT's Claim. This suggests to us that whatever system they are encountering on their property could very well extend onto our property as well. Now that we have a crew in the field at South Preston, we are quite excited to add new information to the data-set that will be intrinsic to our future exploration activities"
As a result of the ongoing success of Azincourt's exploration and drilling activities in the area, CAT's management and consulting group held an informal first meeting with Azincourt's team to discuss in general terms the potential of the area and the various exploration activities conducted in the past and present, and what the most logical next step work programs might look like on both sides of the property line.
Alex Klenman, CEO of Azincourt Energy, stated; "We are quite pleased to collaborate with the team from CAT". Both of our companies obviously share an interest in regional exploration efforts and we feel that both companies can benefit from an ongoing, open dialogue that may be advantageous to both of our exploration plans. We are following CAT closely, as they are with us, so we're going to develop a good working relationship that helps both CAT and Azincourt vector towards meaningful and impactful discovery."
About CAT Strategic Metals Corporation (CAT)
CAT Strategic Metals' corporate strategy, as reflected in its overall Mission Statement, is to source, identify, acquire and advance property interests located in mineral districts proven to have world-class potential, primarily for gold and copper. In addition to the priority South Preston Uranium Project, CAT' is focused on advancing the Burntland Project located northeast of St. Quentin in the Restigouche County, New Brunswick, Canada, directed at the exploration and development of several Skarn-hosted copper-silver, gold targets and the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper trend with multiple targets for gold-silver, copper, and tellurium. CAT's shares trade on the Canadian Securities Exchange (CSE) under the trading symbol "CAT", on OTCMarkets.com under the trading symbol "CATTF", and on the Frankfurt Stock Exchange under the symbol "8CH".
ON BEHALF OF THE BOARD Robert Rosner Chairman, President & CEO
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, by visiting the Company's website www.catstrategic.com or by contacting the Company directly at (604) 674-3145.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with planned production, including the ability of the company to achieve its targeted exploration outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will be found or have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: CAT Strategic Metals Corporation
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18 ZBM batteries to supply power for critical infrastructure
Redflow Limited, a publicly-listed Australian company (ASX: RFX), produces zinc-bromine flow batteries that tolerate daily hard work in harsh conditions. Redflow batteries are designed for high cycle-rate, long time-base stationary energy storage applications and are scalable from small systems through to grid-scale deployments. Redflow’s smart, self-protecting batteries offer unique advantages including secure remote management, 100 per cent daily depth of discharge, tolerance of high ambient temperatures, a simple recycling path, no propensity for thermal runaway and sustained energy delivery throughout their operating life.
Redflow has been selected as the energy storage solution supplier for The Australian Government Bureau of Meteorology (BoM) Renewable Hybrid Power Supply (RHPS) project.
The 180 kWh of Redflow energy storage is part of the BoM’s hybrid solar, battery, diesel solution to provide improved solar utilization as well as backup power for extended operation of the sites in the event of a power failure.
Redflow will supply 18 zinc bromine flow batteries to three weather radar locations in regional NSW - Yeoval, Hillston and Brewarrina. Redflow’s long standing integration partner, Seven20 Electrical, has been awarded the public tender to build the full solution for the Bureau of Meteorology with preparations for deployment planned to commence this month.
Redflow CEO and Managing Director Tim Harris said that by installing Redflow ZBM flow batteries the BoM can be confident of their ongoing operational resilience at their radar sites.
“We are delighted to have been selected for this important project. Redflow batteries are designed for high cycle rate, in medium to long duration applications and with no risk of thermal runaway makes them the perfect solution for the BoM’s regional radar locations.”
“The batteries are ideally suited for extreme conditions with no degradation, coupled with our unique hibernation mode which allows the battery to be left at 100% state of charge for months and then have the ability to rapidly restart makes our batteries the perfect solution,” Mr Harris said.
The Bureau of Meteorology provides a critical service by issuing early warnings of severe weather events to the Australian public and industry. The RHPS at these three sites will improve the reliability of power at these critical infrastructure facilities while simultaneously reducing net emissions and ongoing power costs.
Between 5 and 8 ZBM2 batteries will be deployed per site and will be integrated and controlled using the Redflow Battery Management System which will operate with Victron inverters. A purchase order for the batteries has been received, with delivery planned in the coming weeks and associated earnings recognised shortly afterwards.
Click here for the full ASX Release
This article includes content from Redflow Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Virginia Energy Resources Inc. (TSX.V: VUI) (" Virginia Energy " or the " Company ") is pleased to announce the appointment of Joseph Mullin as President of the Company.
Mr. Mullin was most recently the CEO and Director of QuestEx Gold & Copper, prior to its sale. He has over 20 years of experience in resource investing, corporate finance and private equity. Mr. Mullin began his career as a Financial Analyst in Investment Banking at Goldman Sachs, and subsequently worked at Invesco Ltd. and Millennium Global Investments Ltd. He is currently a Partner and Director of Mount Arvon Partners LLC and serves as an independent Director of Pure Energy Minerals Ltd. and FireFox Gold Corp. Mr. Mullin has a B.A. from Harvard University .
"Virginia Energy is very pleased to welcome Mr. Mullin as its President. Joe's background with resource companies and in particular his experience with mergers and acquisitions are strong assets which will boost the Virginia Energy team as we chart our course," stated Walter Coles Sr. , CEO of Virginia Energy.
Subject to regulatory and shareholder approval, the Company has granted Mr. Mullin 500,000 Restricted Stock Units ("RSUs") vesting if rafter two years, or on a Change of Control ("CoC") transaction.
Virginia Energy Resources Inc. is a uranium development and exploration company. The Company holds a 100% controlling interest in the advanced stage Coles Hill uranium project located in south central Virginia, USA .
On Behalf of the Board of Directors of
"Walter Coles Sr." Walter Coles, Sr. President & CEO
Certain of the statements in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, implications regarding the successful or unsuccessful closing of a private placement financing, or statements relating to filing of a lawsuit in federal court against the Commonwealth of Virginia . Forward-looking statements and forward-looking information generally express predictions, expectations, beliefs, plans, projections, or assumptions regarding future events or performance, they do not constitute historical fact and they are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those anticipated or implied in such information or statements. Forward-looking statements and information contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements or information will prove to be accurate. Actual results may differ materially from those anticipated or projected.
Neither 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.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
SOURCE Virginia Energy Resources Inc.
View original content: http://www.newswire.ca/en/releases/archive/August2022/08/c3909.html
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Energy Fuels reported 2022-2Q results in line with expectations, absent mark-to-market losses. The company reported a loss of $18.1 million or $0.11 per share. However, that included a $13.4 million negative mark to market of the value of investments. Absent that charge, adjusted net income would have been a loss of $4.7 million, or $0.03 per share, vs. our forecast for a loss of $8.6 million, or $0.06 per share. Vanadium and Rare Earth Element (RRE) sales are modest but poised to expand. The company sold 575,000 lbs. of vanadium, almost twice our forecast at an average price of $13.44/lb. Pricing has dropped so the company has discontinued sales. UUUU sold 205 tonnes of RRE, in line with expectations and pricing. Energy Fuels continues to make strides towards assuring RRE supply and developing circuits to separate heavy and light RRE at its White Mesa facilities. Read More >>
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