VIDEO — GeoMegA’s Kiril Mugerman: The Time to Invest in Rare Earths is Now

At this year’s Mines and Money Americas conference in Toronto, the Investing News Network had the chance to talk to Kiril Mugerman, president and CEO of GeoMegA Resources (TSXV:GMA), a rare earths-focused company that has created a unique way of recovering rare earths through recycling.

Based in Quebec, GeoMegA is positioning itself as rare earth oxide producer able to supply materials integral to the high-strength magnets used in wind turbines, electric vehicles and refrigeration systems.

The recycling process created by GeoMegA harnesses the small amounts of rare earths left over in the manufacturing process, which means fewer new materials need to be mined.

“They produce waste and we can process that waste,” said Mugerman. “And then the magnet goes through its lifetime and gets recycled.”

Using waste from production reuses valuable materials, and has created an environmentally friendly way to produce rare earths.

Watch the interview above or read the transcript below for more insight from Mugerman, including his outlook on supply and demand dynamics in the rare earths sector. You can also click here to view our full Mines and Money Americas interview playlist on YouTube.

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INN: GeoMegA is a little different than traditional rare earths companies. Could you explain to us a little bit about your company?

KM: GeoMegA started as a traditional exploration company looking for rare earth deposits in Canada. Over the years, let’s say mostly starting from 2013, 2014, we started looking at the main problem of the industry, which is the bottleneck in rare earth processing, rare earth refining. We started looking at innovative technologies — how to get the biggest problem of that industry, which is solvent extraction, solved by bringing a technology here into Canada and being able to process rare earths here without having to send all our concentrates to China.

INN: Now, you mentioned leveraging technology. How is GeoMegA using technology to its advantage?

KM: We started developing the technology here starting from very small scales, and we said, “you need to be very careful, it’s a very difficult task.” I mean, refining rare earth elements, separating them is one of the most complex chemical processes in the world. So our idea was we’ll have our own technology and that will help us build the mine. The current leverage really came from when we started developing this technology, we said, “look, we don’t want to have a black box that nobody knows how it works.” And for that, we’ll need to raise hundreds of millions of dollars to build a mine.

Instead, we started going towards, “let’s prove that it works by processing existing feeds.” And the best existing feed is an industrial residue which is coming from the main application of rare earths, which is permanent magnets. We realized that by doing that we could demonstrate through a full commercial plant that rare earths processing can be done here using our technology, which does not use organic solvents — done in an economic and competitive way to that in China and generate cashflows. And with this then we can build our own mine, we can build a larger plant to process concentrates from other mines. So it’s really — that is our leverage. We’ll have our own processing facility with the technology that works, with a cashflow coming from that facility.

INN: How have you seen demand change since you’ve been in this sector?

KM: I started my career in the sector in 2011, following rare earths. And that was a good time to see the bubble form. It was a very strong geopolitical risk globally. We saw China restricting exports to Japan, and that created an environment where pricing increased significantly. I believe we went from around US$ 40 or US$ 50 per kilogram of neodymium to well over US$ 500 per kilogram, and some elements went to US$ 1,000+ per kilogram.

It was very difficult for end users to start, to continue their development of their products using this pricing, so we saw a lot of engineering applications, engineering developments to engineer out those rare earths. That started hurting some of the demand, but then when we realized that it was a bubble — well not we, but when the market realized it was a bubble and the pricing started dropping — then the traditional usages came back, and the biggest one is magnets. And we see magnets being applied today to everything. I mean, our power tools, if you think about 10 years ago, 2008, we were just starting to use our regular power tools, cordless.

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It came at the same time with our developments to the batteries. Batteries started getting better, as well as the motor within the power tool. But the main applications that we see today that are driving the demand is actually electric vehicles and renewable energies. So the electric vehicle in 2008, we were just starting. We had a bunch of hybrids on the roads. Electric vehicles were still very rare and few. Even Tesla (NASDAQ:TSLA) was operating several electric vehicle models at that time that were running an induction motor. They were not using permanent magnets. But now we have so many companies that are making electric vehicles, more and more hybrid vehicles. In China, just there we have so many companies that are making electric vehicles that we don’t even have access to here. So all that is demand.

Then the renewable energy is a completely different sector. I mean, if we consider the wind turbines that were built 20 years ago, they barely had any rare earths. They were not very economic, they were very big, very expensive to build. Today we build huge farms of wind power and it’s generating a lot of electricity and suddenly it is economic. And we know that demand is real.

INN: Do you see demand growing in Q4 and 2019?

KM: Absolutely. The demand’s been constantly growing, and we are in touch with the magnet manufacturers in China, and we see from their numbers that the demand is actually growing. It’s a cyclical industry like most industries, so there are quiet periods during the year. They saw that this year the price remained very stable throughout the year, which is very positive because usually there is a drop during the year. And this year if you look at NdPr pricing, it stayed very stable around US$ 60 per kilo. So that’s a good indicator for the Chinese magnet manufacturers that the demand is growing.

INN: China produces 90 percent of the world’s rare earths. Do you see another nation stepping up and maybe competing with China in the near future?

KM: China has the biggest capacity for rare earths refining, the solvent extraction capacity, and it’s very hard to compete with that. I mean, we know that Lynas (ASX:LYC) built one facility that became the main source outside of China. We’ve seen some news recently that they are having some permitting issues with the government, so we don’t know exactly what will happen there. So it will be sad to see one of the only facilities that got built outside of China — if they have issues to continue operating there.

It’s hard to say right now at the current pricing environment if any other company will be able to start building a mine and producing rare earths because at the end of the day, if you’re doing that you have to build as well the refining capacity. Now, if you’re making just a concentrate and you’re shipping it to China, even though you’re producing the concentrate the rare earths are still going to China. And that’s what we are trying to change. Our capacity to process rare earths is actually to try and bring the purified refined oxide outside of China.

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INN: Earlier this year, the US government announced that rare earths were going to be added to the critical materials list. Will this benefit your company?

KM: I think it’s — I mean, we’ve seen several governments over the years announce and they put the importance on rare earths. And absolutely, I think it just puts an extra emphasis on the potential increase in pricing that most likely we’ll see over the next few years.

The applications are growing. I mean, if you look at refrigeration, refrigeration is using more and more magnets. Everywhere where we have an electric motor, they’re using more magnets. And that magnet is actually very important for us because what we are trying to do is we are not starting in mining anytime soon. Our focus is demonstrating the technology works, and as I mentioned to you earlier we want to demonstrate that it works through an industrial residue which comes straight from the magnet.

I’ve got an example here for you here where we literally take a magnet that’s produced as a waste. Sorry, I’ll take that back. The magnet manufacturer produces a waste when they make a magnet and on average we are looking at 10 percent waste, but it can go to much higher than that. So when you take that waste, you can process it and make rare earth oxides out of it. So here we have an example of 99.5-percent neodymium oxide and 99.5-percent dysprosium oxide that is produced from that waste. This is a very important source of material for us. And if in the past you had to start the mine, today to demonstrate that our technology works you don’t need to start the mine.

We are starting to work on this, producing more and more. We scaled up over the last four years, five years, from our initial processing capacity, which was an extremely small separation chamber of 30 milliliters. Then we went to 50, then we went to 2,500 milliliters and today we are 20 liters and we are targeting next year a 200-liter capacity. And the idea is every year we are trying to increase the scale times 10, but at the same time we are as well increasing the concentration that our technology works in. This has been the incredible growth in this technology. The scale and the concentration. Both together we were able to demonstrate and to convince ourselves that this can be economical, and that’s what we are focusing on.

Here, I just have a little bit of waste from the process which is iron ore — not iron ore, iron oxide. And even with this you will produce a little bit of cobalt sulfate because within every magnet, there is a bit of cobalt, which is very important as well to the battery industry.

INN: Are you able to use these again? Can you sell these too?

KM: So there’s definitely a value in cobalt that you can sell. There’s very little value in the iron oxide, just because iron oxide, iron is sold at US$ 60 a tone. So you do have to produce a lot of that to get US$ 60. So the main application of this will be just to pass it on to another company that can use it for something, but without necessarily recovering the cost. For cobalt, you can definitely get some value, but most of the value will be sitting with neodymium and dysprosium or with praseodymium or with terbium. There are usually up to four elements that go to make a magnet. So when we take the waste from the magnet, we’ll have exactly those elements here after it’s separated. Those elements are very important because they’ll go back to the manufacturers of metal, they will go back to into the magnet manufacturer.

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INN: So this is essentially a green process for rare earths?

KM: Absolutely. I mean, some people are asking me the question, “how come it took so long?” Well first of all, it’s a very complex process. To separate rare earths, there aren’t that many alternatives. Second of all, we wanted to make sure we are not using any organic solvents. We want to get rid of that pollutant from this process. The third reason is we actually wanted to make sure that all the reagents that we used we can recover. Because if you constantly have to buy more and more reagents, and it’s all going to the environment. Even though it’s aqueous chemistry we still have to process it and then if we have to process it, there’s an extra cost.

Today, we demonstrated that we can recover well over 90 percent of those reagents. They are very important for us because if we can recover them, we can reuse them again. It’s not only about cutting the cost on disposing. It’s definitely a clean technology. And because it’s clean technology, as well as it’s important for us to focus on the circular industry that we form within rare earths.

And if you’ll look at it, I started technology here and you do have the mining aspect that will be providing concentrates, but as well we work together with the rest of the industry, which is the metal manufacturers. They make a metal that goes to the magnet manufacturers. They produce waste. We can process that waste. They produce waste and we can process that waste. And then the magnet goes through its lifetime and gets recycled. And more and more we see this recycling happening and that final magnet still makes it back to us. So this is the circular industry that we are living in, and we are trying to maximize it without having to always go back to the mine.

INN: Wrapping up, why should investors be excited about rare earths?

KM: Electric vehicles depend on two things: they depend on the battery, they depend on the motor. Without a good electric motor, you won’t have an electric vehicle. We went through the last 10 years of yes, we’ve had a price increase in rare earths, but that was not real at that time. Since then, we had a huge spike in graphite pricing, which was for the battery. We went through a spike in lithium pricing, which is for the battery. We went through a spike in cobalt pricing, which is for the battery. I think the rare earths are coming.

The US government is having a trade dispute with China, which is not helping the industry, but at the same time it is helping the industry because of that criticality of rare earths. We’ll see a price increase. I think it’s only a question of time before we realize that there is just not enough neodymium that we can produce from the existing mines. Or to produce it, we have to mine so much other elements, which there is just not enough demand for them. We will be seeing an increase in pricing for neodymium and dysprosium. I think that’s why the investors should really start paying attention to what is next. I mean, we saw all those other elements, I think the rare earths are next. And I think, really, investors should be starting to take a position in rare earth juniors.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in contributed article. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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Vangold Mining Provides Update on Trading Halt

Vangold Mining Corp. (TSXV:VAN) (“Vangold” or the “Company”) is pleased to announce that further to its news release of earlier today, effective at the open, Thursday, October 25, 2018, shares of the Company will resume trading; transfer agent services have now been reinstated.

About Vangold Mining Corp.

Vangold Mining Corp is a Canadian-based precious metal mining company with a goal to acquire significant exploration opportunities supported by a defined set of geological principals. The Company has a diverse range of quality projects in Mexico and is now expanding with a significant land package in Nevada, USA and near production properties in Guyana, SA. Vangold will continue to expand its portfolio with near production opportunities that bring value to shareholders by providing longer term exploration upside and mineral resource growth potential.

The Company’s Common Shares trade on the TSX Venture Exchange under the symbol “VAN” and on the OTC American Exchange under the symbol “VGLDF”.

ON BEHALF OF THE BOARD OF DIRECTORS
“Cameron S. King”
President, CEO and Director

For further information regarding Vangold Mining Corp, please contact:
Cameron King, +1 (604) 499-6545
Email: cking@vangoldmining.com

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.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

Forward-Looking Statements

This news release contains certain “forward-looking statements”. This forward-looking information includes, or may be based upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of the proposed Transaction, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Vangold’s expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, limited operating history, proposed exploration and/or drill programs and other factors which may cause the actual results, performance or achievements of Vangold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE: Vangold Mining Corp.

Click here to connect with Vangold Mining Corp. (TSXV:VAN) for an Investor Presentation.

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Jade Leader Closes Final Tranche of Financing

Jade Leader Corp. (TSXV:JADE) (“Jade Leader” or “the Company”) is pleased to announce that it has closed the final tranche of its previously announced non-brokered private placement (the “Offering”) and has issued a total of 4,595,816 Units pursuant to this private placement for gross proceeds of $ 1,148,954.

The final tranche consisted of 730,000 Units at a price of $ 0.25 per Unit for gross proceeds of $ 182,500. Each unit consisted of one common share and one common share purchase warrant. Each common share purchase warrant (a “Warrant”) entitles the holder to purchase one additional common share at a price of $ 0.40 per share until October 23, 2020. The common shares issued pursuant to this private placement are subject to a hold period until February 24, 2019. Insiders of the Company purchased a total of 40,000 Units. In connection with this tranche of the Offering, Jade Leader has agreed to pay finder’s fees of $ 1,250.

The net proceeds from the Offering will be used for working capital, general corporate purposes and property exploration expenditures.

On Behalf of the Board of Directors,

“Jean-Pierre Jutras”

Jean-Pierre Jutras
President/Director

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as “expects”, “projects”, “plans”, “anticipates” and similar expressions, are forward-looking information that represents management of Jade Leader’s internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Jade Leader. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Jade Leader’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Jade Leader’s filings with the Canadian securities authorities. Accordingly, holders of Jade Leader shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Jade Leader disclaims any responsibility to update these forward-looking statements.

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Eureka Completes Private Placement of Subscription Receipts

Eureka Resources, Inc. (“Eureka” or the “Company”) is pleased to announce that the Company has closed its previously announced brokered private placement offering of subscription receipts (each, a “Subscription Receipt”) pursuant to which the Company issued an aggregate of 39,000,000 Subscription Receipts at a price of $ 0.05 per Subscription Receipt for gross proceeds of $ 1,950,000 (the “Offering”), which, when combined with funds advanced to the Company by Kore Mining Inc. (“Kore”), will result in an aggregate of $ 2,200,000 being available to the Company upon completion of the previously announced reverse takeover of the Company by Kore (the “Transaction”), as further described below. PI Financial Corp. (the “Agent”) acted as agent for the Offering.

The Offering is the concurrent financing in connection with the Transaction. As previously announced, prior to the completion of the Transaction, Eureka expects to complete a consolidation of its outstanding common shares (each, a “Share”) pursuant to which it will issue one post-consolidation Share for each ten pre-consolidation Shares (the “Consolidation”). The number of units of the Company (each, a “Unit”) underlying the Subscription Receipts will be adjusted to reflect the Consolidation, such that it is expected that an aggregate of 4,400,000 Units will be issued on conversion of the Subscription Receipts and Debentures (as defined below) at a deemed issuance price of $ 0.50 per Unit.

The gross proceeds of the Offering (the “Escrowed Funds”) have been deposited into escrow with Computershare Trust Company of Canada as escrow agent (the “Escrow Agent”), pursuant to the terms of a subscription receipt agreement dated October 22, 2018 (the “Subscription Receipt Agreement”) among the Company, the Escrow Agent and the Agent, pending satisfaction of the Escrow Release Conditions (as defined in the Subscription Receipt Agreement), which include that all conditions precedent to the closing of the Transaction, other than the filing of articles of amalgamation, be satisfied or waived.

Upon the satisfaction or waiver of the Escrow Release Conditions, each Subscription Receipt will automatically convert, for no additional consideration, into one Unit (on a post-Consolidation basis), provided that the Escrow Release Conditions are satisfied prior to November 1, 2018 (or such later date as may be agreed to by Eureka, Kore and the Agent) (in any case, the “Outside Date”), and provided that the Transaction has not otherwise been terminated. Each Unit will consist of one Share and one-half of one common share purchase warrant (with each whole warrant being, a “Warrant”). Each Warrant will entitle the holder to acquire one Share for a period of 24 months from the date of issuance thereof at a price of $ 0.75 per Share on a post-Consolidation basis.

Expiry of the Warrants will be subject to acceleration if, following the issuance of the Warrants, the closing price of the Shares on the TSX Venture Exchange (the “TSXV”), or such other Canadian stock exchange on which the Shares are then principally traded, equals or exceeds $ 1.00 per Share, on a post-Consolidation basis, for a period of ten consecutive trading days. In that case, the Company may accelerate the expiry date of the Warrants to 30 calendar days from the date notice is given by the Company, by way of dissemination of a news release, to the holders of the Warrants.

The Escrowed Funds are being held in escrow pending satisfaction of the Escrow Release Conditions at which point the net proceeds will be delivered by the Escrow Agent to the Company. If the Escrow Release Conditions are not satisfied by the Outside Date, the Escrowed Funds will be returned to the subscribers.

In connection with the Offering, the Company has agreed to: (i) pay the Agent a cash commission equal to 7% of: (a) the aggregate gross proceeds of the Subscription Receipts sold pursuant to the Offering, and (b) the aggregate gross proceeds from the sale of the Debentures, and (ii) issue the Agent warrants, each of which will entitle the holder to acquire one Unit (on a post-Consolidation basis) at a price of $ 0.50 per Unit, as is equal to 7% of: (a) the total number of Subscription Receipts sold under the Offering, and (b) the total number of Units to be issued on conversion of the Debentures, for a period of 24 months from the date of issuance. The Agent was reimbursed for its reasonable expenses in connection with the Offering.

All securities issued in connection with the Offering (including the Units and underlying Shares and Warrants), are subject to a statutory hold period of four months and one day, and such other hold periods as are required under applicable securities laws.

Concurrent Private Placement by Kore

Kore has completed a private placement of convertible debentures (each, a “Debenture”) in the aggregate principal amount of $ 250,000 that, in accordance with their terms, will convert into Units concurrently with the conversion of the Subscription Receipts, on the basis of one Unit for each $ 0.50 principal amount.The proceeds of the offering of the Debentures have been advanced by Kore to the Company.

About Eureka

Eureka is a mineral exploration company based in Vancouver, British Columbia.

British Columbia, Canada

Eureka’s 100% owned FG Gold property is an advanced-stage gold project located in the Cariboo Mining Division. Historical exploration has established a Measured and Indicated (376,000 ounces) gold resource at an average grade of 0.776 g/t gold, using a cut-off grade of 0.5 g/t, and an Inferred gold resource (634,900 ounces) at an average grade of 0.718 g/t gold, using a cut-off grade of 0.5 g/t. Details of the gold resource can be found in “NI 43-101 Technical Report, Frasergold Exploration Project, Cariboo Mining Division, dated July 27, 2015” available under the Company’s profile on SEDAR or on the Company’s website.

Eureka has a 100% interest in the Gold Creek property located in the Cariboo Mining Division. Gold Creek is a grassroots gold project neighbouring, and with similar geology to the Spanish Mountain deposit owned by Spanish Mountain Gold Ltd.

Yukon Territory, Canada

Eureka’s 100% owned Luxor property consists of three non-contiguous claim blocks totalling 360 mining claims.Luxor is located in the Dawson Range Gold Belt, a district of major porphyry, breccia and vein occurrences. Eureka’s 100% owned TAK property is also located in the Dawson Range Gold Belt and consists of 82 mining claims.

Neighbouring projects include Goldcorp’s Coffee project and White Gold’s White Gold project.

Nevada, USA

Eureka owns a 50% interest in the Gemini lithium brine project located approximately 40 kilometres (26 miles) south of North America’s only producing lithium mine at Silver Peak, Nevada.

Technical information with respect to Eureka contained in this news release has been reviewed and approved by Kristian Whitehead, P.Geo., the Company’s designated Qualified Person within the meaning of National Instrument 43-101.

About KORE

KORE is a development stage company that offers exposure to precious metals exploration and development in North America, with a corporate strategy focused on the advancement of its California development and British Columbia advanced exploration stage projects.

California, USA

KORE, indirectly through wholly-owned subsidiaries, owns 100% interests in the Imperial and Long Valley gold development projects, located in California, USA (together, the “Projects”). Combined, most recent current and historical estimates of resources specify a total of 2,126,000 measured and indicated and 1,784,000 inferred gold ounces. A Qualified Person has not done sufficient work to classify the historical estimates as current resources and KORE is not treating the historical estimates as current resources. Significant data compilation, re-drilling, re-sampling and data verification may be required by a Qualified Person before the historical estimates at the Projects can be classified as current resources. KORE has no other material financial assets or liabilities.

Each of the Projects has the potential to host near-surface, open pit, heap leachable gold deposits. The Projects combine low technical risk, high advancement potential and a low initial cost.

Kore was incorporated under the provisions of the Business Corporations Act (British Columbia) on February 22, 2016. There are currently 18,707,202 Kore common shares issued and outstanding.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any Eureka common shares in the United States. The Eureka common shares to be issued in connection with the Transaction have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Further information on Eureka can be found on the Company’s website at www.eurekaresourcesinc.com and at www.sedar.com, or by contacting Michael Sweatman, President and CEO, by email at info@eurekaresourcesinc.com or by telephone at (604) 449-2273.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.

Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.

All information contained in this news release with respect to Eureka and Kore was supplied by the parties, respectively, for inclusion herein, and Eureka and its directors and officers have relied on Kore for any information concerning such party, including information concerning the Projects.

This news release contains forward-looking statements relating to the timing and completion of the Transaction, the future operations of the Company, Kore, and the issuer resulting from the Transaction (the “Resulting Issuer”) and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Transaction and the future plans and objectives of the Company, Kore, and the Resulting Issuer are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s, Kore’s, and the Resulting Issuer’s expectations include the failure to satisfy the conditions to completion of the Transaction set forth above and other risks detailed from time to time in the filings made by the Company, Kore, and the Resulting Issuer with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, Kore, and the Resulting Issuer. As a result, the Company, Kore, and the Resulting Issuer cannot guarantee that the Transaction will be completed on the terms and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company, Kore, and the Resulting Issuer will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

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Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63382.html
The Market Oracle – Financial Markets Analysis and Forecasts – CLICK TO READ ARTICLE

Would you buy the Trump, the Obama, or the whole set?

Wouldn’t you like to finish your Presidential dollar set?

It ended with Ronald Reagan in 2016.

By law, it was incomplete. It was mandated that way from the very beginning.

Only deceased Presidents could be honored.

I have written that this was silly.

A Presidential set should feature all Presidents, not just those who are deceased.

But I did not expect my view to change anything.

It didn’t.

This morning, I thought of a new angle.

I was looking at the one-ounce George Washington silver medal that is being sold by the U.S. Mint.

Sales so far are roughly 13,000, which is not that many, but certainly it would beat a silver Martin Van Buren medal should one ever be offered.

Only the silver John Adams medal is currently available.

Buyers have taken roughly 10,000 of these.

Thinking about them gave me an idea.

How about if the Mint creates special medals made of base metal for inclusion in the Presidential dollar set?

These would be promoted as the official way to complete it.

Private industry is already selling its own versions to achieve completeness.

There is clearly a demand for them in the marketplace.

Since they would be medals and not coins, the Treasury secretary could order these to be made.

Since they would be an adjunct to the coin set, new designs of the living Presidents could be created and reviewed by the Citizens Coinage Advisory Committee and the Fine Arts Commission.

Jimmy Carter, George H.W. Bush, Bill Clinton, George W. Bush, Barack Obama, and Donald Trump could take their place on dollar-sized medals.

These new medals could be the same diameter but not have the same composition as the Presidential dollar coins.

We would not want these medals clogging the vending machines of the nation.

But they should look similar enough to fit into the Presidential dollar set.

Coin collectors value completeness.

At last they could add the final six individuals to their Presidential set.

The partisan crowd also might join in to purchase images of their favorites.

Having the opportunity to buy a Donald Trump medal, or a Barack Obama medal, might appeal to people from their respective parties.

This would reach far beyond the numismatic audience.

If these medals catch on with the public, some buyers would stick around after discovering that they want to be coin collectors, too.

New dollar-sized Presidential medals have much to commend them, and the Federal Reserve would not have to worry about building bigger dollar coin warehouses.

Buzz blogger Dave Harper won the Numismatic Literary Guild Award for Best Blog for the third time in 2017. He is editor of the weekly newspaper “Numismatic News.”

 

The post Would you buy the Trump, the Obama, or the whole set? appeared first on Numismatic News.

Buzz – Numismatic News

Noram Provides Corporate Update

Noram Ventures Inc. (TSXV:NRM) (OTCBB:NRVTF:US) has provided a corporate update. After a highly successful phase 2 drill program, the company plans to proceed with phase 3 drilling once permitted.

Phase 2 drill program, Zeus property, Clayton Valley, Nevada

The phase 2 drill program comprised new core from the deepening of nine core drill holes within the area of Noram’s previously announced inferred resource of 17 million tonnes at a grade of 1,060 parts per million lithium (which equates to 96,476 metric tonnes of LCE). The complete technical report disclosing the resource is available under Noram’s profile on SEDAR.

The previous drilling on which the inferred resource was based reached an average depth of 14.3 metres. The nine holes were deepened to an average depth of 82.2 meters, which is 5.75 times the previous average depth used in the resource estimate.

Data from the phase 2 drilling were summarized in the attached table of the news release dated Aug. 13, 2018, and available through SEDAR. The mineralization remains open in all directions and at depth. The area of the deeper drilling has tested only a small fraction of the area covered by Noram’s claim holdings.

Based on the continued success of this area, the company has chosen to maximize value by focusing its efforts on the expansion of the existing resource. The company has maintained the entirety of the Zeus area, including both placer and lode claims, while allowing the ancillary claims comprising the extensions to lapse. All three drill programs to date have been conducted on the Zeus property, which covers an area of approximately 3,000 acres in the Clayton Valley. This area is comparable in size with the area held by Cypress Development Corp., which is composed of 4,220 acres located immediately adjacent to the Zeus property. Cypress recently released a preliminary economic assessment on its project available for review on SEDAR or alternatively at the Cypress Development website.

Phase 3 drill program, Zeus property, Clayton Valley, Nevada

The company also intends to expand the phase 3 drill program, which is designed to develop the existing resource. The company previously announced that 11 holes would be drilled to an approximately 100-metre depth to extend the mineralization to the south and the east of the current resource area. The company has increased this to 17 holes drilled to this depth. Following this new drilling, it is expected that a new resource estimate will be determined, with a goal of completing an updated estimate by the end of first quarter 2019.

Legal update

In an effort to expedite the current legal proceedings involving trespassing on the Zeus property, the company has filed a notice of motion for preliminary injunction in the state of Nevada. If granted, the injunctive relief requires Centrestone Resources LLC to refrain from: (a) entering onto or upon the area delineated by the exterior boundaries of the claims for the purpose of exploring for minerals, mining, excavating, extracting, removing or carrying away any earth, rock or minerals from within the vertical planes formed by the boundaries of the claims; and (b) from constructing on the claims any equipment, improvements, infrastructure or other installations, which might delay, hinder, interfere with or otherwise obstruct the mineral exploration, development and mining operations of Noram. A hearing time and date will be set by the Fifth Judicial District Court of the State of Nevada in and for the county of Esmeralda. The company expects that the injunction will be granted and intends to move forward aggressively and pro-actively to bring this issue to a close.

The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc, certified professional geologist, who is a qualified person with respect to Noram’s Clayton Valley lithium project as defined under National Instrument 43-101.

About Noram Ventures Inc.

Noram Ventures is a Canadian-based junior exploration company, with a goal of becoming a force in the green energy revolution through the development of lithium deposits and becoming a low-cost supplier for the burgeoning lithium battery industry. The company’s primary business focus since formation has been the exploration of mineral projects. Noram’s long-term strategy is to build a multinational lithium mineral company to produce and sell lithium into the markets of Europe, North America and Asia.

We seek Safe Harbor.

Click here to connect with Noram Ventures Inc. (TSXV:NRM) (OTCBB:NRVTF:US) for an Investor Presentation. 

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Weekend Unlimited “LIVE” Goes Hollywood

Weekend Unlimited USA’s “LIVE” Division is the Life of the Party In Hollywood for the Month of October

Weekend Unlimited (CSE:YOLO) a lifestyle cannabis company, has launched its “Weekend Unlimited LIVE” program for October, aimed at building brand awareness and creating relationships in the entertainment community in the United States and internationally.

Introducing Weekend Unlimited LIVE:

Weekend Unlimited LIVE is designed to engage audiences in the lifestyle brand through events and experiences. Experiences and engagement range from Jerome Baker glass blowing events, to club events, concerts, destination travel, social media interaction, fashion & accessories and cause relationships in its communities. Weekend Unlimited LIVE will work to raise the profile of Weekend Unlimited USA’s product brands in markets throughout the legal US States and legal jurisdictions internationally.

“Weekend Unlimited LIVE goes Hollywood! By establishing a Weekend Unlimited LIVE house in Hollywood for the month of October, we are inviting the entertainment community to engage with our brand and help to shape the lifestyle epitomized by the slogan, ‘Life’s Highs. Anytime. Anywhere,’” said Mr. Cody Corrubia, Weekend Unlimited USA President and CEO.

Weekend Unlimited LIVE events will feature:

  • Emily Ratajkowski and Travis Scott on Halloween
  • Machine Gun Kelly
  • Nas
  • Paul Pierce’s Vesper Release Party
  • 2 Chainz
  • Madeintyo

“Weekend Unlimited LIVE will be at the center of a month of events, including live music, parties and celebrity functions, highlighted by celebrities including the ‘Weekend Unlimited LIVE Halloween Party’ at Poppy Nightclub hosted by Emily Ratajkowski and featuring performer Travis Scott,” added Mr. Corrubia.

“We aim to be a top of mind lifestyle brand in the US, and it is important to connect directly and create long term relationships with tastemakers who believe in this early stage cannabis industry and most importantly want to be a part of shaping its direction,” noted Mr. Corrubia.

For further information, please contact:

Mr. Cody Corrubia, President and CEO
Telephone: 1 (236) 317-2812
E-mail: IR@weekendunlimited.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

Click here to connect with Weekend Unlimited (CSE:YOLO) for an Investor Presentation. 

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FXOpen AU Launches Cryptocurrency Trading

FXOpen AU

Perth, Australia – October 2018.

Responding to the wishes of their traders and following the latest trends, FXOpen AU Forex broker launches cryptocurrency accounts that allow users to trade 15 cryptocurrencies (including Bitcoin, Ethereum, Dash, Monero, NEO, EOS and other cryptocurrencies) as CFDs direct from FXOpen accounts.

To start trading in the Cryptocurrency market with FXOpen AU you need to log into your eWallet, select add account – Crypto, fill in the account opening form, open MT and use your new Crypto Account details to log in. The minimum deposit is just AUD 10 …

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Vanadium Prices to Stay High on “Fundamental Tightness”

While popular commodities like gold and silver have struggled to retain any price growth in 2018, one resource in particular has experienced steady upward momentum all year and is expected to keep moving higher.

Vanadium, a metal that many outside of the mining sector have never heard of, is quickly asserting itself as one of the energy storage metals to watch. Aside from that, vanadium is also instrumental to the construction industry for its use in steel production.

In January, the gray-toned metal continued its positive pace after a brief plateau period in mid-2017. The price of vanadium pentoxide flake sat at roughly US$ 12 per pound at the beginning of 2018; today the price is US$ 29.90 and growing.

What Do You Know About The Industrial Metals Market?

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“We expect prices to remain at elevated levels for some months to come,” said Jack Bedder, division manager at Roskill. “There is a fundamental tightness in the market keeping prices high, although speculative activities have also helped drive prices higher.”

Valuable vanadium flake is a key component in the energy storage systems now being used in electric vehicles, residential units and even at the grid scale to safely store and then deliver green energy. Growing demand from this sector has contributed to the gains the vanadium price has made — as much as US$ 10 in just one three-month period.

While vanadium flake prices have experienced an immense uptick, prices for ferrovanadium, which is used to harden and strengthen steel, have also steadily increased for much of the year. They were sitting at US$ 58 per kilogram in January, but have shot up to US$ 133.50 currently.

Demand is also the motivation behind ferrovanadium’s price surge, and it is being spurred on by infrastructure growth and the implementation of new rebar guidelines in China.

“As China’s economy transitions, Roskill forecasts steady growth in demand for vanadium in steel, benefiting not only from volume growth in the market, but also from an increasing intensity of use in vanadium,” added Bedder.

He continued, “while usage in China has declined in the past owing to less stringent enforcement and control of building regulations, over the outlook period stricter guidelines are expected to provide a boost to consumption.”

Of course, as vanadium demand from the energy storage industry and the construction sector skyrockets, concerns over supply shortages are being raised.

“The market is very tight at the moment,” Bedder said. “There have been some key supply-side changes to the market in recent times.”

The division manager at Roskill pointed to the closure of Evraz Highveld and the associated Mapochs mine in South Africa in 2015 as a catalyst for impending supply concerns. The Mapochs mine had a total capacity of around 13 kilotonnes per year, accounting for a considerable amount of global feedstock.

However, as prices for both flake and ferrovanadium continue to skyrocket, developers are becoming increasingly enticed to explore, advance and grow vanadium projects.

“High prices should see some more vanadium units come out of the woodwork — there has been a flurry of new announcements regarding projects, both in China and elsewhere,” pointed out Bedder.

What Do You Know About The Industrial Metals Market?

Find market data and industry insights in your free report

“While some projects are relatively advanced in their development, many are years away from producing and face the numerous obstacles associated with project development.”

Uranium producer Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) is one of the companies looking to benefit from the stable growth in the vanadium market. In fact, when the energy-focused company restarts production at its White Mesa mill, it will be the only North American vanadium producer.

“We believe we are the best-positioned vanadium company in North America, because we think we will beat everyone else to production, and we are building our longer-term vanadium production profile,” said Curtis Moore, the company’s vice president, marketing and corporate development.

“Over the past several months, we have been working on refurbishing and upgrading the vanadium circuit at the White Mesa mill, and we plan to resume vanadium production from our ponds beginning in November 2018 at a rate we estimate at 200,000 to 225,000 pounds of V2O5 per month, subject to V2O5 prices remaining strong and technical success.”

There is no doubt that increased production anywhere around the globe will be a welcome addition to a market that could see a shortage with the current pace of demand.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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VIDEO — Financing is the Biggest Question in Lithium Right Now

In a conversation with the Investing News Network at Toronto’s Mines and Money Americas event, M.Plan International Managing Director David Anonychuk explained how the electric vehicle revolution will see several different battery metals find their place in the spotlight.

“I think the story is quite interesting for all of them because they’re all going to move together based on the demand that we’re going to see from electric vehicles, as well as the energy storage space,” he said.

“I think one thing to put this all in perspective is we probably hear the most about lithium right now, and that’s probably one that’s most well known in terms of what people talk about demand,” Anonychuk added — though he noted that financing remains a key issue in the space, with lack of technical knowledge keeping away “some of the financial community.”

As Anonychuk further discussed the hype surrounding lithium, he touched on how cobalt will also see major growth in terms of demand, albeit a little bit later on.

“People are forecasting somewhere around quadrupling demand around 2025. If we compare that to cobalt, looking at cobalt demand today of somewhere between 110,000, 120,000 tonnes … it’s going to double sometime around 2027/2028 based on some of the leading third-party forecasts, and then quadrupling somewhere around 2035,” he explained.

While he had plenty of praise for the big battery metals, Anonychuk believes vanadium deserves more attention than it’s currently receiving, and feels the energy storage space is a place to keep an eye on.

“A lot of the focus out there, especially because of the automotive side, is all electric vehicles, but we should also be cognizant and talk about the wider energy storage space because there are a lot of competing technologies of which lithium-ion battery is one of the competing technologies. And I think vanadium definitely deserves its place,” he concluded.

Lithium in 2018

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INN: Since it’s the first time that we’re speaking, can you let our audience know what your role is right now?

DA: I’m the managing director for an independent consultancy. We do resource estimates and studies for junior mining companies, as well as due diligence for the financial community and the specialty minerals and metal space. So namely lithium, cobalt, graphite, rare earth and high-value industrial minerals.

INN: We’re here at Mines and Money Toronto, and yesterday you were part of a panel discussing battery metals. What was your main takeaway from the panel?

DA: There is a lot of excitement if you look at even some of the other talks that happened during the day. They had a competition, they had a gold project, they had a zinc project and a graphite project, and the panel voted on the one that was more interesting and they chose the graphite one. It’s obviously very topical today in terms of what we hear on the battery metal space, so I think there’s a lot of interest in the room just to hear what people have to say.

INN: Alright. And there’s been a lot of talk about  battery metals — as you said we have lithium, cobalt, nickel, maybe to a lesser extent graphite. But what would you say you’ve seen as the most interesting battery metal this year. Do you have a pick? A top pick from those?

DA: It’s hard to say, to pick one. I think the story is quite interesting for all of them because they’re all going to move together based on the demand that we’re going to see from electric vehicles, as well as the energy storage space. I think one thing to put this all in perspective is we probably hear the most about lithium right now, and that’s probably one that’s most well known in terms of what people talk about demand.

Looking at today, people are forecasting somewhere around quadrupling demand around 2025. If we compare that to cobalt, looking at cobalt demand today of somewhere between 110,000, 120,000 tonnes … it’s going to double sometime around 2027/2028 based on some of the leading third-party forecasts, and then quadrupling somewhere around 2035.

So cobalt is going to lag a little bit from lithium from the demand point of view, but that’s where in the cobalt space it gets quite interesting from some of these primary mines that are going to have to fill the gap. Because cobalt, for example, it’s a by-product of either copper or nickel from that point of view. But … between both I think the highest interest that we see is definitely on the lithium and the cobalt space right now.

INN: Let’s talk then specifically about lithium. We know you have a background in base and precious metals. Can you let our audience know briefly what are the main differences that you see when looking at a lithium project compared to those metals?

DA: What’s interesting on any of these specialty metals and minerals in terms of the development risk phase, if we look typically at precious metals or base metals, it’s more linear in their approach between exploration, the metallurgy, looking at the market … whether it’s a gold or copper project, there’s not a lot of question on the marketing side. Those terminal markets are quite well known.

If we look at lithium, for example, it really doesn’t have its own terminal market. But even in the development risk side, when you go between exploration and even the next step, metallurgy, there’s a lot of test work that needs to be done to understand and unlock what are those minerals and how are you going to economically process them and what are the end-use markets. So there’s a lot of iterative work when we … work on studies to try to unlock value for those projects. It’s definitely lot more iterative that way and that’s where the value creation happens, way early on in the process.

INN: Looking ahead to next year, what do you think can be some of the factors that could impact the market and maybe the ramp up of these projects in the lithium sector?

DA: Right now the biggest question I think everyone asks is on the financing side. I think there’s a lot of interest out there, but the other thing is maybe what’s keeping away some of the financial community is having that deep technical understanding behind these projects. That’s obviously the service that we provide under M.Plan International, is to be able to work with as well the financial community to do due diligence and look at some of these projects and help evaluate and understand what is behind them.

But I think it’s quite interesting because the geographies are quite diverse. We see new entrants, a good example I think is Peru, you have … a company like Plateau Energy Metals (TSXV:PLU) now that’s out there. It’s not just the brines in South America, now you have new entrants.

Lithium in 2018

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You have confidence now in Quebec, for example, with Nemaska Lithium (TSX:NMX) that raised $ 1.1 billion, which is a fantastic example. And a few weeks ago in Toronto at a luncheon, Guy Bourassa, the CEO of Nemaska Lithium, gave a presentation and he talked about how challenging it was to raise his $ 1.1 billion, and in order to get there he had to raise first approximately about $ 70 million with the demonstration plant, then convince the investors to get to that $ 1.1 billion. So there was a lot of work that needed to be done.

Specifically in lithium he mentioned that based on forecast demand, there’s another $ 15 billion that needs to be raised to meet that demand by the mid-2020s. So I think that’s the interesting part, but I think you need to really know what you’re doing on the technical side. And of course we’re happy to have a role in that and as this industry develops.

INN: Then my last question for you today — what would you say is the next battery metal to watch? Is there any of them that you find interesting?

DA: Definitely. I think the one that we didn’t talk a lot about on the panel yesterday was vanadium, and it does deserve a place in terms of the discussion. A lot of the focus out there, especially because of the automotive side, is all electric vehicles, but we should also be cognizant and talk about the wider energy storage space because there are a lot of competing technologies of which lithium-ion battery is one of the competing technologies, and I think vanadium definitely deserves its place.

People are talking about … what percent of demand could they take up. I’ve heard numbers as high as 20 percent, and some people say that’s high. But there’s definitely a core of what vanadium can do in terms of servicing that type of market, and we’re definitely seeing activity on our side in terms of looking at different projects and doing due diligence and studies from that point of view.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Nemaska Lithium and Plateau Energy Metals are clients of the Investing News Network. This article is not paid-for content.

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

The post VIDEO — Financing is the Biggest Question in Lithium Right Now appeared first on Investing News Network.

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Blockchain and Shipping: Samsung SDS Signs Deal with Largest Port in Europe

Blockchain and Shipping

Samsung SDS, the blockchain subsidiary of the tech giant Samsung, has just announced its partnership with Europe’s largest port, the Port of Rotterdam. In addition to this agreement, the Major Dutch bank, ABN AMRO, will also be in on the blockchain and shipping deal.

Samsung SDS: Blockchain and Shipping

The Samsung subsidiary released the news via a press release this morning. According to Samsung SDS, its trial will focus on shipping containers from an unnamed factory in Asia to the port of Rotterdam.

The Port of Rotterdam is located in the SouthWest corner of …

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Banking on Batteries, Western Areas Sets Out on Odysseus

Western Areas (ASX:WSAannounced that its board has decided to go ahead with the Cosmos Odysseus nickel project after encouraging results from a recently completed definitive feasibility study.

The approval of a decision to mine should not come as a huge surprise; Western Areas went ahead with early works at the project in April, well before the definitive feasibility study was near completion, saying then that it was confident Odysseus would become the company’s third operating mine and second production center.

Located near the Western Australian Goldfields community of Leonora, Cosmos is a mined-out open pit, while Odysseus refers to orebodies that will be access through underground mining operations.

In a Monday (October 22) release, Western Areas says the definitive feasibility study shows Odysseus would have a “robust 10-year operation producing 130,000 tonnes of contained nickel in concentrate.”

The company says that the definitive study “demonstrates a larger, longer life project with improved economics” over the prefeasibility study, and that Odysseus does not require any additional capital outlay for years, “therefore providing optionality arounds funding future commitments.”

It continues,  “[w]ith first nickel concentrate scheduled for the December 2022 quarter, Odysseus will be one of the few nickel sulfide mines coming online just as forecast demand for class one nickel is expected to substantially increase in the electric vehicle sector.”

Western Areas says it is receiving significant interest in offtake agreements for Odysseus, though it has yet to enter into any agreements.

The economics of the Odysseus project are robust, says Western Areas, noting that it will have a short 3.5-year payback from production start, according to the definitive study. It will be a low-cost operation with a life-of-mine cash cost of AU$ 2.65 per pound with cobalt by-products.

The definitive feasibility study also gives the project breathing room, with a life-of-mine breakeven price of AU$ 6.10 per pound (or US$ 4.58 per pound), while the current spot price is around AU$ 7.92 per pound (or US$ 5.64 per pound).

With the company betting on electric vehicle demand going up, it is clearly hoping there will be even more breathing room in the near to medium-term future.

The study envisages that Odysseus would produce an average of 13,000 tonnes of nickel annually, and over 14,000 tonnes per year between 2024 and 2031.

Dan Lougher, managing director of Western Areas, said the definitive feasibility study was a great result on “many fronts.”

“The Odysseus Ore Reserve is now 164,500 tonnes of nickel, with the life of mine nickel concentrate production increasing by 42,700 tonnes to 130,100 tonnes compared to the pre-feasibility study,” he added.

Additionally, Lougher said that capital expenditure for the project is minor for the next 12 to 24 months given the company can fund the works from its own cash reserves.

“In fact, the major pre-production expenditure, totalling AU$ 162m, is not required until FY22 and FY23,” he noted.

Cosmos Odysseus was acquired from Glencore (LSE:GLEN) in 2015 for AU$ 24.5 million, and is located in the same region of Western Australia as major nickel-producing assets in BHP Billiton’s (ASX:BHP,NYSE:BHP,LSE:BLT) Nickel West portfolio, which is set for a major expansion in coming years.

On the ASX, Western Areas’ share value increased by 3.43 percent on Monday, closing at AU$ 2.41.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

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How to Lose Money Quickly Crypto Day Trading

Crypto Day Trading

Over the past few years the idea of becoming a ‘crypto day trader’ has gained in popularity.

There are countless YouTube videos all claiming to teach viewers the “real secret” to the high-flying, trading lifestyle. How you can spend an hour or two in front of your laptop every day and pocket upwards of $ 500 in profit on a daily basis.

Before we look at the validity of such a claim, let us look at the facts.

Cryptocurrency is a tradable asset, and it shares a lot of its characteristics with traditional …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

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Salt Over Iron: BCI Sells Kumina Project to Mineral Resources

Australia’s Mineral Resources (ASX:MIN) has announced a binding agreement to purchase the Kumina iron ore project in the Pilbara from BCI Minerals (ASX:BCI), which has been working to divest its iron ore assets since August to focus on salt and potash.

The AU$ 35-million transaction will see Mineral Resources acquire the Kumina part of BCI’s Buckland project in the iron-rich Pilbara region of Western Australia.

Kumina is described by BCI as having an inferred mineral resource of 78.3 million tonnes of iron ore graded at 59.1 percent, with “potential to upgrade ore above 60 percent iron and for lump ore production” — as per the current owner’s maiden mineral resource estimate, released in June.

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Chris Ellison, Mineral Resources’ managing director, said that his company was “very selective” in its decision to only acquire part of BCI’s iron ore portfolio.

“An opportunity arose late in BCI’s divestment process for MRL to acquire Kumina Project on itsown, and I am very pleased with the agreement we have announced today,” said Ellison.

“The Kumina Project transaction builds on our successful relationship with BCI, our partner in the Iron Valley Iron Ore Project,” which is also in the Pilbara.

Ellison added, “the location of the Kumina project will enable [Mineral Resources] to leverage its existing workforce and logistics supply chain in the Pilbara, with the ore to be exported out of Port Hedland.”

BCI’s managing director, Alwyn Vorster, said that the sale of Kumina was a positive return as the company had acquired the tenement for AU$ 9 million in 2017.

In August, after the release of the maiden resource estimate for Kumina, BCI announced it was getting out of the iron ore business (though it will stay on as a partner with Mineral Resources in the Iron Valley project). It said that interest in its iron ore assets and its stated intent to become a salt- and potash-focused miner were behind the decision.

Besides Kumina and Iron Valley, BCI’s iron ore portfolio consists of Bungaroo South (part of the Buckland project with Kumina) and Cape Preston East port rights on the Western Australian coast west of Karratha. It also has a number of exploration tenements.

Funds from the sale of the assets will go towards the Mardie salt and potash project’s definitive feasibility study, and will ensure the company can maintain 100-percent ownership through to a final investment decision due in late 2019.

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BCI says discussions to sell its other iron ore assets are ongoing.

Mineral Resources says it expects the agreement for Kumina to be completed by the end of this year following third-party agreements and consent. As it stands, the transaction will take place in three parts: AU$ 27 million up front, AU$ 4 million after first export and AU$ 4 million 12 months after first export.

Mineral Resources made the news earlier this year when it seemingly kickstarted a tussle between mining magnates Gina Rinehart and Andrew Forrest — and their companies Hancock Prospecting and Fortescue Metals (ASX:FMG) — over its plans to merge with Atlas Iron (ASX:AGO) for its iron ore assets.

Mineral Resources eventually bowed out after both Rinehart and Forrest made moves to block the merger and try to take over the smaller company themselves, leaving Mineral Resources empty handed while Gina Rinehart’s company got the prize.

On the ASX, Mineral Resources was trading up 1.19 percent on Monday (October 10) at market, sitting at AU$ 15.27. BCI also got a boost from the announcement, rising 7.41 percent to AU$ 0.145.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

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