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Top 5 Canadian Silver Stocks in 2023

Silver has had an exciting 2023, with banking crises and other economic factors driving it to sustained heights.

After starting the year just below the US$24 per ounce mark, the white metal fell through February and early March to US$20. However, in the time since then the metal has been on a run, crossing US$26 on April 14. After a brief dip to US$23 heading into the summer, the silver price revived to the US$25 level in mid-July.

The top silver stocks list below was generated on July 24, 2023, using TradingView’s stock screener, and it contains the five silver-focused companies on the TSX, TSXV and CSE with the biggest share price gains year-to-date. All the silver stocks listed had market caps above C$10 million at that time. Read on to learn more about what they’ve been up to.

1. CMX Gold and Silver (CSE:CXC)

Press ReleasesCompany Profile

Year-to-date gain: 60 percent; market cap: C$11.11 million; current share price: C$0.16

CMX Silver and Gold is an exploration and development company focused on restarting its 100 percent owned, past-producing Clayton silver mine in the mining-friendly jurisdiction of Idaho. The project has historically produced over 2 million metric tons (MT) of ore from a known vein system, and a stockpile of 1 million MT of unprocessed material remains on the property. CMX is working to identify other veins on the property, which includes newly staked lands.

CMX’s share price didn’t see much movement through the first quarter of the year as a result of little material news flow while the company waited for results from a stockpile testing program initiated in Q4 of last year. Under an agreement with Sulphide Remediation, materials were collected from nine areas at the Clayton silver mine stockpile, and about 536 kilograms were shipped to Sydney, Australia, for testing in an ore-sorting laboratory facility operated by TOMRA. The results of the testing program will be used to determine the best ore-sorting process for the Clayton silver mine stockpile.

Shares of CMX rose from C$0.07 on March 27 to C$0.09 at market close on March 29 on news that ore testing at the TOMRA facility had been successfully completed, with the sorted product sent to Bureau Veritas for assaying.

CMX’s next share price jump came this summer, when it reached C$0.11 on June 30 before climbing to a year-to-date high of C$0.16 per share by July 10. This significant increase followed the June 29 release of stockpile assay results confirming the viability of ore sorting at the Clayton silver mine project, including the enhancement of silver and zinc grades by 6.4 and 7 times, respectively.

‘The silver, lead and zinc assay results are robust and ore-sorting returned a high-grade concentrate. This provides CMX with a unique opportunity as a junior mining company to exploit the stockpile, which is estimated to contain 1,000,000 tonnes or more of mineralized material,’ CMX President and CEO Jan Alston stated. Processing of the stockpile is expected to start in 2024.

2. Metallic Minerals (TSXV:MMG)

Company Profile

Year-to-date gain: 47.73 percent; market cap: C$51.68 million; current share price: C$0.36

Metallic Minerals is a silver and gold company operating projects in Canada and the US. The company’s flagship asset is the Keno silver project in Canada’s Yukon. According to Metallic, Keno covers the second largest land position in the Keno Hill silver district. Additionally, Metallic holds the Australia Creek and Dominion Creek gold projects in the territory, as well as the La Plata copper-silver-gold project in Colorado, US.

Metallic released two sets of drill results from Keno in January, one on January 12 and one on January 30; the latter intersected a highlight of 230 grams per metric ton (g/t) silver equivalent over 20.9 meters, including 1,540 g/t silver equivalent over 1.63 meters.

On January 24, the metals company announced a gold production royalty agreement with Little Flake Mining, which is owned and operated by Parker Schnabel, a significant player in the TV show Gold Rush. Little Flake will receive exclusive rights to extract gold from the Australia Creek gold property.

Metallic’s share price performed relatively flatly through late February, but shot up on February 28, when the company revealed that its 2022 exploration program at La Plata intercepted a hole grading 0.41 percent copper equivalent over 816 meters, which is not only the longest and highest-grade interval seen at the project, but “one of the top intersections for any North American copper project in the past several years.”

After cooling from the C$0.37 in the days following that news, Metallic’s share price climbed again from mid-March to early April, reaching a year-to-date peak of C$0.40 on April 4. On April 10, the company released high-grade drill results from the Keno project’s Caribou target, with a highlight of 195.8 g/t silver equivalent over 6.7 meters, including 1,310 g/t over 0.53 meters. Now that it has finished processing the results from its 2022 exploration, Metallic is planning its 2023 drill program with a focus on continued resource expansion and the testing of new targets.

After a short slide to the C$0.35 level, the company’s share price got another boost back up to C$0.40 with news in mid-May of a C$6.3 million equity investment by major miner Newcrest Mining (TSX:NCM,ASX:NCM,OTC Pink:NCMGF) for a 9.5 percent interest in Metallic.

At the top of Q3, Metallic shares had dropped as low as C$0.28; they then rose more than 25 percent to reach C$0.36 following the launch of the company’s first phase drill program at La Plata.

3. Hercules Silver (TSXV:BIG)

Company Profile

Year-to-date gain: 46.88 percent; market cap: C$40.65 million; current share price: C$0.23

Hercules Silver is an exploration and development company focused on its Hercules silver project in Idaho, US. The company spent much of 2022 exploring the 100 percent owned property, and is continuing to do so in 2023.

Hercules’ first news of the year came on January 24, when it announced that its 2022 rock chip sampling program, which was made up of over 800 samples at its Hercules property, showed the presence of a large mineralized system. The company’s share price trended upward through February, during which time it unveiled and outlined its 3,000 meter Phase 2 drilling plan; it reached a year-to-date high of C$0.28 on February 28, when it announced drill results from Phase 1 drilling at Hercules, including a drill core with highlights of 353 g/t silver over 38 meters and 791 g/t silver over 4.57 meters.

In March, Hercules announced the addition of Kelly Malcolm, a geologist with significant precious metals exploration experience, as an independent director on the company’s board. The company finished the month with the commencement of a brokered private placement, which it closed on April 20 for C$5.75 million, with its share price trading at C$0.25 in the days after; however, Hercules stumbled over the next month to hit a low of C$0.17 on May 16.

Hercules’ May 31 launch of a 6,000 meter Phase 2 drill program and the anticipation of positive news flow in the coming months helped push the stock’s per share value back up to C$0.23 as of July 25. The campaign is aimed at testing ‘extensions of historical mineralization, verify previous historical drilling and test a series of new targets generated by greenfields exploration,’ as per a news release.

4. Silver One Resources (TSXV:SVE)

Company Profile

Year-to-date gain: 42.31 percent; market cap: C$81.66 million; current share price: C$0.37

Exploration and development company Silver One Resources is building a portfolio of quality silver projects. The company’s wholly owned flagship project is the past-producing Candelaria silver mine, located in Nevada, US. Silver One has also staked 636 lode claims and entered into a lease/purchase agreement to acquire five patented claims on its Cherokee silver-copper-gold project, also in Nevada, and holds an option to acquire a 100 percent interest in the high-grade Phoenix silver project in Arizona, US.

News in early March that Silver One had obtained a permit to drill the Phoenix silver project gave the company’s share price a boost, and it rose from C$0.21 on February 28 to C$0.28 on March 3. Those gains didn’t stop there, with Silver One reaching its year-to-date high of C$0.43 by April 10; however, the stock fell back to the C$0.30 level in early June.

On April 24, Silver One completed a C$5 million private placement, followed the next month with the announcement that it had acquired a 100 percent stake in Nevada’s Candelaria silver mine. More recently, the company reported on positive metallurgical results out of Candelaria, and announced in July that further testing results are expected in Q3.

Silver One believes the metallurgical results suggest that the existing mineral resource at Candelaria may be processed by low-cost open-pit, heap-leach methods, similar to those used in the past, but with much improved silver recoveries and the potential to improve the economics of the project. The company plans to complete a preliminary economic assessment following its update to Candelaria’s historic resource estimate.

Shares of Silver One rose from C$0.30 on July 10 to C$0.41 on July 18.

5. Arizona Silver Exploration (TSXV:AZS)

Press ReleasesCompany Profile

Year-to-date gain: 39.29 percent; market cap: C$28.2 million; current share price: C$0.39

Arizona Silver Exploration has a portfolio of early stage projects in the tier-one mining jurisdictions of Arizona and Nevada. The company’s flagship property is the Philadelphia project in Mohave County, Arizona, which hosts high-grade gold and silver vein targets. The project is located near the Oatman mining district; the region has produced 2 million ounces of gold from high-grade epithermal veins. Arizona Silver’s other assets include the Ramsey silver and Sycamore Canyon gold-silver projects in Arizona and the Silverton gold project in Nevada.

In the first half of 2023, the company was highly active at its Philadelphia gold-silver property, generating a rolling series of press releases that helped boost its share price. The stock started the year at a price per share of C$0.28, and hit a year-to-date high of C$0.59 on May 4.

Arizona Silver kicked off its 2023 exploration program in February, targeting the GAP zone with the first reverse-circulation drilling on the property. A total of 12 holes covering 1,256 meters were completed during the campaign. In April, the company commenced core drilling to test the western edge of the recently identified Red Hill CSAMT geophysical anomaly at the project.

In early May, results from 2023 exploration started coming in, with highlights from the drill program including 51 g/t gold and 16.1 g/t silver in the FW vein from 54.88 meters to 56.4 meters, and 18.2 g/t gold and 46.6 g/t silver in the HW vein from 13.72 meters to 15.24 meters. Later in June, the company reported that the assay results for hole PC23-111 “confirm the down-dip and eastward continuation of the mineral system.’

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

This post appeared first on investingnews.com
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5 Top Weekly TSXV Stocks: Juggernaut Exploration Leads with Gain of 35 Percent

The S&P/TSX Venture Composite Index (INDEXTSI:JX) moved up last week, increasing 1.75 percent to close at 625.47.

The US Federal Reserve was in focus during the period as its latest two day meeting took place. The central bank hiked interest rates by 25 basis points to a range of 5.25 to 5.5 percent, the highest level seen in 22 years. Although the gold price rose as high as US$1,980 per ounce after the Fed’s move was announced, it closed last week just below US$1,955.

Against that backdrop, a variety of TSXV-listed resource stocks made moves over the last five days. Read on to find out which companies rose the most during the period and what was affecting their share prices.

1. Juggernaut Exploration (TSXV:JUGR)

Weekly gain: 35.48 percent; market cap: C$13.43 million; current share price: C$0.21

Juggernaut Exploration is an exploration company with three projects in the Golden Triangle of BC, Canada: the Midas gold property, the Bingo gold property and the Empire polymetallic property.

On July 18, Juggernaut announced the beginning of a 4,500 meter drill campaign at Midas. Additionally, President and CEO Dan Stuart said exploration at drilling at Bingo and Empire were imminent. Grab samples from outcropping at Empire previously returned grades of up to 36,875 grams per metric ton (g/t) silver and 16.4 g/t gold.

While the company didn’t release news last week, its share price climbed throughout the period to reach a weekly peak of C$0.225 during trading hours on Friday (July 28).

2. Visionary Metals (TSXV:VIZ)

Company Profile

Weekly gain: 35.29 percent; market cap: C$15.78 million; current share price: C$0.115

Visionary Metals changed its name from Visionary Gold on July 10 to reflect its new focus on battery metals following a nickel-cobalt discovery at its King Solomon project in Wyoming, US.

Visionary’s most recent news came on July 19, when it announced a Q4 4,500 meter drilling program at King Solomon to expand on the nickel sulfide discovery, which the company said may be “the first new nickel sulfide discovery in the continental western United States since the early 1940s.” It also staked new claims at King Solomon and the nearby Tin Cup prospect.

The company’s share price climbed to a high of C$0.145 during trading last Thursday (July 27).

3. Omineca Mining and Metals (TSXV:OMM)

Company Profile

Weekly gain: 33.33 percent; market cap: C$14.24 million; current share price: C$0.08

Gold company Omineca Mining and Metals is exploring and mining underground placer gold at its Wingdam project in BC’s Lightning Creek area alongside its joint venture partner Hamilton Gold Royalties. Wingdam encompasses over 600 square kilometers and more than 15 linear kilometers of placer claims.

Underground mine haulage drifts are currently being developed to allow for access to the placer gold deposits. In March, Hamilton Gold Royalties and mining contractor Fortis Mining Engineering and Manufacturing “successfully entered the placer gold bearing paleochannel at the Wingdam underground project.”

The company’s most recent news came on July 21, when Omineca provided an update on the work at Wingdam, including the successful extension of the haulage drift and completion of an access drift. Additionally, Hamilton processed waste rock material from the haulage drifts and recovered 11 ounces of coarse placer gold flakes and a 1.13 ounce gold nugget.

Omineca’s share price rose to a weekly high of C$0.085 last Wednesday (July 26).

4. Founders Metals (TSXV:FDR)

Company Profile

Weekly gain: 33.33 percent; market cap: C$13.61 million; current share price: C$0.06

Founders Metals is focused on its gold projects in South America’s Guiana Shield, particularly its Antino project in Suriname. The company is currently in the middle of its 2023 exploration program at Antino, which is aimed at expanding high-grade historical gold zones within the Main Antino shear corridor and nearby high-priority targets.

Last Thursday, Founders released “exceptional” early results from its drilling at Antino’s Froyo zone. The assays confirm high-grade gold mineralization at Froyo with highlights of 29.9 g/t gold over 3 meters within 19.22 g/t gold over 12 meters. The company’s share price jumped following the news, peaking at C$0.38 early last Friday.

5. Solstice Gold (TSXV:SGC)

Company Profile

Weekly gain: 28.57 percent; market cap: C$10.26 million; current share price: C$0.045

Solstice Gold has a portfolio of projects in Canada, including the Red Lake Extension gold project, the Atikokan gold project and the Stewart Lake lithium project in Ontario, and the Qaiqtuq gold project in Nunavut. The company established Stewart Lake in February through staking and acquiring a 187 square kilometer land position, which it believes is prospective for lithium and rare earths.

Solstice announced a flow-through share and unit financing on July 18 for C$420,000, the majority of which it plans to use for grassroots lithium exploration at Stewart Lake. The company’s share price rose throughout last week to peak at C$0.055 during trading on both Thursday and Friday.

FAQs for TSXV stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, while the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many companies are listed on the TSXV?

As of April 2023, there were 1,713 companies listed on the TSXV, 953 of which were mining companies. Comparatively, the TSX was home to 1,789 companies, with 190 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Data for 5 Top Weekly TSXV Performers articles is retrieved each Friday after market close using TradingView’s stock screener. Only companies with market capitalizations greater than C$10 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

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

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

This post appeared first on investingnews.com
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5 Top Weekly TSX Stocks: Verde Agritech Up 28 Percent on Carbon Credit News

The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed down last Friday (July 28) at 20,520.71.

The index’s biggest decline came on Thursday (July 27), when it sank as low as 20,387.89. On Wednesday (July 26), the US Federal Reserve increased interest rates by a quarter point, sending them to their highest level in 22 years.

Gold rose above US$1,970 per ounce following the news, but was hovering around US$1,955 by the time markets closed on Friday. Silver also fell sharply on Friday and ended the five day trading period at about US$24.25 per ounce.

Despite these price swings, some resource juniors listed on the TSX saw their share prices go up last week. Here’s a look at the five biggest gainers and the factors that moved their share prices during the period.

1. Verde Agritech (TSX:NPK)

Press ReleasesCompany Profile

Leading this week’s top TSX stocks list is Verde Agritech, whose share price rose 28.46 percent to end the week at C$3.34. The company is developing its Cerrado Verde project in Brazil, and says it is the source of a potassium-rich deposit from which it intends to produce solutions for crop nutrition, crop protection, soil improvement and increased sustainability.

Last Thursday, Verde Agritech said it is in advanced negotiations to sell carbon credits to major international corporations that are established purchasers of permanent carbon offsets.

2. Northern Dynasty Minerals (TSX:NDM)

Press ReleasesCompany Profile

Northern Dynasty Minerals is focused on developing the Pebble project in Alaska, where, according to the company, one of the world’s largest undeveloped copper-gold-molybdenum-silver resources is located.

On Wednesday, the company announced that the State of Alaska has filed a motion in the US Supreme Court, arguing that the US Environmental Protection Agency’s veto of the Pebble project breaches a contract involving Alaska and the US. Northern Dynasty also says that it violates the federal statutory recognition and implementation of that land exchange.

Following the news, shares of Northern Dynasty increased 25.37 percent to end the week at C$0.42.

3. Condor Energies (TSX:CDR)

Press ReleasesCompany Profile

Condor Energies is an internationally focused energy company with producing gas assets, an ongoing initiative to construct and operate Central Asia’s first liquefied natural gas facility and another initiative focused on gas field redevelopment.

The company did not release any news last week, but its share price jumped 24.17 percent to finish at C$1.49.

4. Excelsior Mining (TSX:MIN)

Press ReleasesCompany Profile

Excelsior Mining is a copper-producing company that owns and operates the Gunnison copper project in Cochise County, Arizona.

Shares of Excelsior Mining rose 15.22 percent last week to hit C$0.26, although the company didn’t release fresh news.

5. Forza Petroleum (TSX:FORZ)

Last but not least this week is Forza Petroleum, an international oil exploration, development and production company. Forza Petroleum has a 65 percent participating interest in and operates the Hawler license area in Iraq’s Kurdistan region.

Last Tuesday (July 25), the company published its Q2 financial and operational results. Shares of Forza Petroleum increased 8.33 percent on the news to end the five day period at C$0.13.

FAQs for TSX stocks

How big is the TSX?

The TSX is Canada’s biggest stock exchange, and as of June 16, 2023, it had 1,789 listed stocks for a total market value of more than C$3.792 trillion. The TSX is often ranked as one of the 10 largest stock exchanges in the world.

Why do companies list on the TSX?

Listing on one of the world’s largest stock exchanges provides companies with greater market exposure, the ability to raise capital and an opportunity to build a strong financial reputation. In its technical guide to listing, the TSX states the exchange “offers companies a dynamic market to raise capital, enhanced liquidity, specialized indices, visibility and analyst coverage.’

What sectors are included in the S&P/TSX Composite Index?

The S&P/TSX Composite Index tracks more than 230 constituents across a wide range of sectors, of which the top five by weight are: financials (30.1 percent), energy (16.6 percent), industrials (14 percent), information technology (7.7 percent) and materials (11.9 percent).

What was the highest point for the TSX?

The TSX hit a record high of 22,213.07 points in April 2022. While the exchange was at 19,970 points as of June 16, 2023, there are high expectations that the TSX could move past the 22,000 level by the end of 2023 to set new record highs.

Data for 5 Top Weekly TSX Performers articles is retrieved each Friday after market close using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

Article by Priscila Barrera; FAQs by Melissa Pistilli.

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

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

This post appeared first on investingnews.com
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Miramar Resources

Overview

With the explosive growth of the electric vehicle market and the global push for sustainability, demand for battery metals is skyrocketing. This has created significant upside potential for exploration, particularly where copper and nickel are concerned.

Miramar Resources (ASX:M2R) intends to leverage that potential to the fullest. Led by an experienced board with a proven track record of successful exploration and discovery, the company has acquired multiple projects with the potential to host world-class mineral deposits. These discovery opportunities span Australia’s Eastern Goldfields and Capricorn Orogen, a rapidly emerging yet largely underexplored mineral province.

Proterozoic orogens are well-established as hosting major mineral deposits. Capricorn is no exception. It’s highly prospective for multiple commodities and deposit types.

This is something Miramar has recognized for years, driving the company to acquire two large and highly prospective landholdings: the Whaleshark Iron-Oxide-Copper-Gold (IOCG) project and the Bangemall Nickel-Copper-PGE projects. In addition to these, Miramar maintains two gold projects in the Eastern Goldfields, one of which — Gidji JV — has the potential to become a new gold camp in the region.

Miramar’s strategy is simple — to create shareholder value through the discovery of world-class deposits. It’s well-positioned to do exactly that, with active exploration programs, a tight share register and low enterprise value. The company is also quite well-funded, owing to a recent $2 million round of capital raising.

Company Highlights

The current focus on battery metals creates significant upside opportunities for exploration, particularly on copper and nickel.Australian exploration company Miramar Resources is well-positioned to take advantage of the battery metals opportunity. Led by an experienced board with a track record of successful discovery, development and production, Miramar has acquired multiple potential world-class deposits, including:Large, shallow IOCG targets at WhalesharkMultiple nickel-copper-PGE targets at BangemallMultiple strategic Eastern Goldfields projects, including one with the potential to become a new gold campMiramar is an active explorer with regular news flow, a tight share register and low enterprise value.

Key Assets

Whaleshark (Ashburton)

Located roughly 40 kilometers east of Onslow in the Ashburton region of Western Australia, Whaleshark displays similar geology to several projects with significant iron-oxide-copper-gold (IOCG) deposits, including Ernest Henry, Starra, Carrapateena and Prominent Hill. It was acquired by Miramar as part of its initial public offering in 2020.

Miramar recently secured $180,000 in Exploration Incentive Scheme (EIS) funding from the Western Australia Government to fund diamond drilling and project development at Whaleshark.

Project Highlights:

IOCG Prospectivity: Whaleshark displays all the necessary characteristics for the presence of a large iron-oxide-copper-gold deposit, including:Proterozoic granite with nearby iron-rich rocksOverlapping magnetic anomalism and gravityStrong anomalous “interface” geochemistrySodic and potassic alterationHigh-Priority Drilling: Miramar has identified multiple high-priority bedrock drill targets which comprise overlapping:Mobile metal iron (MMI) surface geochemical anomalism over roughly 1.2 square kilometersGravitational anomalism crosscut by a northwest-trending structureStrongly elevated copper, cobalt, gold and silver results gathered from “interface” aircore drillingAdvantageous Geology: Whaleshark’s geology is incredibly similar to the large Ernest Henry IOCG in Queensland, including the scale, suite and magnitude of elements. However, Whaleshark also displays much shallower cover compared to Ernest Henry.

Bangemall/Mount Vernon (Gascoyne)

Located within the Proterozoic Capricorn Orogen in Western Australia’s Gascoyne region, Miramar’s 100-percent-owned Bangemall projects cover approximately 1,920 square kilometers. Both the Geological Survey of Western Australia and Geoscience Australia have identified the area as being highly prospective for numerous types of mineral deposits. Geology at the project is characterized by multiple Kulkatharra Dolerite sills intruding into sulfidic sediments. To date, the company has three main projects in the Bangemall: Mount Vernon, Dooley Downs and Blue Bar.

In early 2022, Miramar flew a detailed magnetic and electromagnetic survey over the Mount Vernon project, identifying multiple late-time anomalies potentially related to nickel-copper-PGE sulphide mineralization.

The company is currently in the process of submitting an application for EIS funding for drilling at Mount Vernon. Provided it is successful, Miramar plans to commence drilling in December 2023.

Project Highlights:

Mount Vernon potential: Miramar’s VTEM survey at Mount Vernon confirms historic exploration at the project, which identified:Nickel, copper and platinum group elements soil anomaliesSignificant nickel-copper in rock chipsDrilling which intersected elevated nickel-copper-PGEs in doleriteCurrent Work: The company is planning the following at Mount Vernon:Rock chip and/or soil sampling along the basal contactOrientation ground EM surveys over selected airborne EM anomaliesFinalizing drill hole locations based on the above resultsFuture Plans: Identifying more drill targets for testing

Gidji JV Project (Eastern Goldfields)

Located roughly 15 kilometers north of Kalgoorlie, Gidji is a highly prospective yet underexplored gold project with potential nickel mineralization. Miramar has been actively exploring the project since October 2020, resulting in the identification of several new targets and outlining large aircore gold anomalies at Marylebone, Blackfriars and Highway/Piccadilly, each of which could host a significant gold discovery. The Marylebone target is the highest priority target as it has the same geology, structural setting and scale as the 4-Moz Paddington gold deposit which is also located in the ‘Boorara Shear Zone’ to the north and where Miramar discovered high-grade gold in a quartz vein. At the Marylebone target alone, Miramar has outlined a large shallow gold “exploration target” of 1.4 to 3.2 million tons (Mt) @ 1.2 to 1.5 grams per ton (g/t) gold. The company believes Gidji has the potential to become a new gold camp.

Highlights:

Multiple High-potential Gold Targets: Potential mineralization at Marylebone ranges from 1.4 to 3.2 Mt @ 1.2 to 1.5 g/t gold. Other gold anomaly targets include Blackfriars, Highway-Piccadilly and Railway. Miramar is currently refining bedrock targets for further deep drilling. Potential Nickel Sulphide Mineralization: Through re-analysis of multiple aircore holes, Miramar has produced significant platinum and palladium assays commonly associated with high nickel and copper results.

Glandore (Eastern Goldfields)

Situated 40 kilometers east of the Kalgoorlie Gold Field, Miramar’s 100-percent-owned Glandore project displays the potential for significant high-grade gold mineralization. Previous exploration of the project area identified a large aircore gold footprint along with significant gold anomalism. Diamond drilling in 2005 returned results that included 4 meters @ 44.3 g/t gold.

In 2022, Miramar completed a diamond drilling program at the high-grade “Glandore East’ target, at the edge of the salt lake, with results returning high-grade gold mineralization and visible gold. Multiple parallel mineralized structures have been outlined beneath a very large aircore gold footprint and bedrock gold mineralization is present over 600 meters of strike and open. A UAV magnetic survey identified multiple northeast-trending structures. More surveys are planned to further refine and assist in targeting.

Management Team

Allan Kelly – Executive Chair

Allan Kelly is a geologist and manager with over 25 years’ experience in mineral exploration, development and production throughout Australia and the Americas. Kelly graduated in 1994 with a Bachelor of Science (with honors) in applied geology from Curtin University. He has been involved in targeting early-stage exploration of gold, nickel and copper deposits in Australia, Alaska and Canada, and has previously held senior exploration positions at Western Mining Corporation and Avoca Resources.

In 2009, he founded Doray Minerals, which was listed on the ASX in early 2010. Under Kelly’s management, Doray discovered the high-grade Wilber Lode gold deposit within the Andy Well Project in the Murchison Region of Western Australia, which moved from discovery to production within three and a half years. He subsequently funded, constructed and commissioned the Deflector Gold-Copper Project within 14 months of completing the takeover of Mutiny Gold in 2014.

In 2014, Kelly was awarded the Association of Mining and Exploration Companies (AMEC) ‘Prospector Award’, along with Doray’s co-founder Heath Hellewell, for the discovery of the Wilber Lode and Andy Well gold deposits. He is a fellow and former councilor of the Association of Applied Geochemistry (AAG), a member of the Australian Institute of Geoscientists (AIG), and a member of the Institute of Brewing and Distilling (IBD).

Marion Bush – Technical Director

Marion Bush is a geologist with over 25 years’ experience in senior management, directorship, commercial management, analyst and marketing roles within the UK, Australia, Africa and South America. She was the former CEO of TSX-V listed Cassidy Gold and a former mining analyst.

Bush holds a Bachelor of Science (geology) from Curtin University, a Master of Science (mineral project appraisal) from the University of London (Imperial College) and is a member of the AIG.

Terry Gadenne – Non-executive Director

Terry Gadenne has over 30 years’ experience in military and civilian aviation, agriculture and mining management. He was the chief pilot of Mackay Helicopters and managing director of Mining Logic, located in Queensland. Over the course of his career, Gadenne has had various board positions in not-for-profit organizations.

He holds a Bachelor of Aviation Studies (management) from the University of Western Sydney, completed the Company Directors Course with AICD and was a former army and navy pilot.

Mindy Ku – Company Secretary

Mindy Ku has over 15 years’ international experience in financial analysis, financial reporting, management accounting, compliance reporting, board reporting, company secretarial services and office management across multiple jurisdictions (Australia, Malaysia, UK, Sweden and Norway) including ASX-listed public and private companies.

Ku holds a Bachelor of Science in computing from the University of Greenwich, United Kingdom, is a member of Certified Practising Accountant Australia and a fellow member of the Governance Institute of Australia.

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11 Canadian Cryptocurrency ETFs (Updated 2023)

Cryptocurrencies offer an alternative route for building and storing wealth. While directly holding these digital assets is a popular option, investors are also clamoring for financial products such as cryptocurrency exchange-traded funds (ETFs).

“There is a high demand for a Bitcoin product that has all the features that people love about ETFs — that they trade on an exchange, that they’re liquid,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., told Bloomberg in mid-2021.

Interest has only increased since then — in mid-2023, Sean Farrell, head of digital asset strategy at Fundstrat, said that growing demand in the market for Bitcoin ETFs has the potential to surpass the precious metals ETF market at some point.

‘Bitcoin ETF eventually could become >$300 billion category,’ he said in a note to investors.

Canada approved the first pure-play Bitcoin ETFs for trade on the TSX in early 2021. These Canadian cryptocurrency ETFs allow investors to place returns in tax-sheltered accounts like tax-free savings accounts or registered retirement savings plans.

The story is different in the US, where eight crypto ETFs were awaiting approval from the US Securities Exchange Commission (SEC) as of July 31, 2023. The federal agency is seemingly dragging its feet on approving these applications because of a lack of regulatory framework to govern crypto exchanges, as well as a perceived need for greater investor protections. This has prompted fund issuers to get creative with workaround ETFs that offer Americans exposure to crypto-linked equities.

Two major decisions before the SEC may or may not have — depending on who you ask — a big influence on the potential for a US Bitcoin ETF market: Grayscale’s legal challenge to the SEC’s refusal to allow it to convert its Grayscale Bitcoin Trust (OTCQX:GBTC) into an ETF, and BlackRock’s (NYSE:BLK) June filing of an application to launch the iShares Bitcoin Trust.

While investors hold their collective breath in anticipation of pure-play cryptocurrency ETF launches in the US market, it’s worth taking a look at the currently available Canadian cryptocurrency ETFs. The list below includes 11 options on the market, and all data presented was current as of July 28, 2023.

1. Purpose Bitcoin ETF (TSX:BTCC)

Company Profile

Assets under management: C$1.1 billion

Billed as the first physically settled Bitcoin ETF, the Purpose Bitcoin ETF launched in February 2021 and is backed by Bitcoin. The fund allows investors to add and sell Bitcoin with no digital wallet required.

Hosted by Canadian investment company Purpose Investments, the Purpose Bitcoin ETF is backed by 27,675.39 Bitcoins and has a management expense ratio of 1 percent.

2. Purpose Ether ETF (TSX:ETHH)

Company Profile

Assets under management: C$249.6 million

Launched in April 2021, the Purpose Ether ETF is the world’s first direct-custody Ether ETF.

Ethereum is the most widely used blockchain technology, and Ether, the digital currency of this platform, is the second largest cryptocurrency after Bitcoin. Evolve ETFs and CI Global Asset Management claim to have also launched the first Ether ETF on the same day, but it looks like Purpose Investments was the first to make an announcement.

The Purpose Ether ETF offers investors exposure to the daily price movements of physically settled Ether tokens through either Canadian dollar hedged units, Canadian dollar non-currency hedged units or US dollar units. The management fee is 1 percent.

3. Evolve Bitcoin ETF (TSX:EBIT)

Company Profile

Assets under management: C$108.68 million

Evolve ETFs partnered with cryptocurrency experts, including Gemini Trust Company, CF Benchmarks, Cidel Bank & Trust and CIBC Mellon Global Services, to launch the Evolve Bitcoin ETF. The fund has a management fee of 0.75 percent.

Launched a week after the Purpose Bitcoin ETF, its holdings of Bitcoin are priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for Bitcoin denominated in US dollars.

4. Evolve Ether ETF (TSX:ETHR)

Company Profile

Assets under management: C$50.36 million

The Evolve Ether ETF offers investors an easier route to investing directly in Ether. The fund’s holdings of Ether are priced based on the CME CF Ether-Dollar Reference Rate, a once-a-day benchmark index price for Ether denominated in US dollars. As with the Evolve Bitcoin ETF, the Evolve Ether ETF has a management fee of 0.75 percent.

5. Evolve Cryptocurrencies ETF (TSX:ETC.U)

Company Profile

Assets under management: C$20.22 million

The Evolve Cryptocurrencies ETF launched in September 2021 as the first multi-cryptocurrency ETF, providing combined exposure to both Bitcoin and Ether. This product from Evolve ETFs allows investors to diversify their crypto portfolios and provides indirect exposure to the two coins, weighing them by market capitalization and rebalancing its holdings on a monthly basis.

While this ETF has no management fee, the underlying funds that hold both Bitcoin and Ether have management fees of 0.75 percent of net asset values, plus applicable taxes.

6. CI Galaxy Bitcoin ETF (TSX:BTCX.B)

Company Profile

Assets under management: C$272.23 million

Launched in March 2021, the CI Galaxy Bitcoin ETF was born out of a partnership between cryptocurrency leaders Galaxy Fund Management (GFM) and CI Global Asset Management. GFM is part of the management arm of Galaxy Digital, a diversified financial services firm with a focus on the digital assets and blockchain technology sector.

The ETF’s objective is to give investors exposure to Bitcoin via an institutional-quality fund platform. At 0.4 percent, this fund boasts the lowest management fee possible of all the crypto funds on the market.

7. CI Galaxy Ethereum ETF (TSX:ETHX.U)

Company Profile

Assets under management: C$308.26 million

CI Global Asset Management suggests that “owning Ether is similar to owning a basket of early-stage, high-growth technology stocks.” The CI Galaxy Ethereum ETF has blown the competition out of the water in terms of assets under management.

Some of that may be due to its ultra-low management fees, which were at zero for nearly the first two months following the fund’s April 2021 launch date. After June 15, 2021, its management fees increased to 0.4 percent — that’s in line with the CI Galaxy Bitcoin ETF, but still well below those of its competitors.

8. 3iQ CoinShares Bitcoin ETF (TSX:BTCQ)

Company Profile

Assets under management: C$101 million

Launched in March 2021, the 3iQ CoinShares Bitcoin ETF tracks the price movement of Bitcoin in US dollars terms, and holds its Bitcoin assets in cold storage with no digital wallet required. This ETF comes with a management fee of 1 percent.

9. 3iQ CoinShares Ether ETF (TSX:ETHQ)

Company Profile

Assets under management: C$27 million

Following the success of its Bitcoin ETF, 3iQ Digital Asset Management launched its CoinShares Ether ETF in April 2021. This fund has a similar objective, offering exposure to Ether and its daily US dollar price movements. It has a management fee of 1 percent.

10. Fidelity Advantage Bitcoin ETF (TSX:FBTC)

Company Profile

Assets under management: C$71.6 million

The newest Bitcoin fund on this list, the Fidelity Advantage Bitcoin ETF launched in November 2021. It offers the security of Fidelity’s in-house storage services. Like the CI Galaxy funds, the Fidelity Advantage Bitcoin ETF has an ultra-low management fee of 0.4 percent.

11. Fidelity Advantage Ether ETF (TSX:FETH)

Company Profile

Assets under management: C$1.4 million

Following the successful launch of its Bitcoin fund, Fidelity brought its Ether ETF to market in September 2022. FETH also has a management fee of 0.4 percent.

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

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Noble Acquires Option Properties

(TheNewswire)

Toronto, Ontario July 31, 2023 Noble Mineral Exploration Inc. ( ‘Noble’ or the ‘Company’ ) (TSX V: NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce that it has acquired a total of 44 mining claims (the ‘Claims’) in Mann, Duff, and Reaume Townships, covering an area totaling approximately ~904 hectares. The Claims were acquired after payment, exploration expenditure commitments and other conditions were satisfied in accordance with two option agreements entered into by Noble in 2021. Under both transactions, each optionor or group of optionors have retained a 2% NSR subject to Noble’s right to buyback half of the NSR for $1,000,000 per property during the first four years after the date of each royalty agreement. In addition, Noble is on track of acquiring a third optioned property totaling 229 mining claims in Mann, Duff and Hanna Townships, covering an area totaling approximately 4,932 hectares. For further details regarding the original transactions on the Claims and the third optioned property (collectively, the ‘Properties’), please refer to the news release issued by Noble on August 11, 2021.

The Properties are a portion of the 625 mining claims (the ‘Optioned Claims’) of an option and joint venture agreement between Noble and Canada Nickel Company Inc. (‘Canada Nickel’) whereby Canada Nickel has the right to acquire an up to 80% interest in the Optioned Claims subject to satisfying certain conditions. For further details regarding the option and joint venture agreement between Noble and Canada Nickel, please refer to the news release issued by Noble on February 24, 2022.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional ~11,000 hectares in the Timmins area and ~14,400 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as its ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, its ~3,700 hectares in the Buckingham Graphite Property, its ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, its ~518 hectares in the Laverlochere Nickel, Copper, PGM property, all of which are in the Province of Quebec. More detailed information is available on the website at: https://www.noblemineralexploration.com

Noble’s common shares trade on the TSX Venture Exchange under the symbol ‘NOB.’

Cautionary Statement

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

H. Vance White, President

Phone: 416-214-2250

Fax: 416-367-1954

Email: info@noblemineralexploration.com

Investor Relations: ir@noblemineralexploration.com

Copyright (c) 2023 TheNewswire – All rights reserved.

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Skyharbour Announces Additional Uranium Property Staking Increasing Total Portfolio to Over 518,000 Hectares in the Athabasca Basin, Saskatchewan

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (the ‘Company’) is pleased to announce that it has acquired by staking seven new prospective uranium exploration claims in Northern Saskatchewan, increasing Skyharbour’s total land package that it has ownership interest in to 518,302 ha (1,215,941 acres) across 24 projects. These 100% owned claims add an additional 13,945 ha to Skyharbour’s existing holdings in and around the Athabasca Basin, which is host to the highest-grade uranium deposits in the world and is consistently ranked as a top mining jurisdiction by the Fraser Institute. As the Company remains focused on its co-flagship Russell Lake and Moore projects, these new properties will become a part of Skyharbour’s prospect generator business as the Company will seek strategic partners to advance these assets.

Skyharbour’s New Uranium Project Portfolio Map:
https://skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_V2B_20230727.jpg

List of New Claims :

CBX Project – additional five new contiguous claims totalling 6,804 ha linking the Company’s former CBX and Snow projects Karin Project – one additional claim totalling 5,882 ha 914W Project – new project totalling 1,260 ha

Jordan Trimble, President and CEO of Skyharbour Resources, states ‘We continue to add to our dominant uranium project portfolio in the Athabasca Basin with this recent staking while advancing our core projects through ongoing drilling and exploration. These new mineral claims bolster existing properties and provide additional ground to option or joint-venture out to new partner companies as a part of our prospect generator business.’

Summary of Recently Staked Properties:

CBX Project:

The CBX property has been recently expanded through staking to include five additional claims adjoining the previously staked CBX and Snow properties, which have been combined to include a total of seven claims covering 8,777 ha. The new claims lie approximately 6.5 km to 25 km north to northeast of the Eagle Point uranium mine and cover the northern shore of Wollaston Lake including parts of Cunning Bay. Outcrop exposure on the property is poor, but historical mapping and drilling shows that the newly expanded CBX project is underlain by a mixture of Wollaston Supergroup metasedimentary gneisses, Hudsonian intrusives, and Archean felsic gneisses of the Western Wollaston Domain. Similar lithologies host uranium mineralization at the Rabbit Lake operation, including the Eagle Point deposit, and other uranium deposits in the Athabasca Basin and surrounding regions.

CBX Project Map:
https://skyharbourltd.com/_resources/maps/Sky_CBXShoe20230727_.jpg

Like the previously staked CBX claims, these new claims have seen a variety of historical exploration conducted mainly between 1968-1981, including airborne and ground EM, magnetics, and radiometrics surveys, marine seismic surveys, prospecting, geological mapping, and geochemical, with some additional work in 1993. There was also a limited amount of historic drilling in 1979-1980, including drill hole CBA-1 on the Cunning West Grid in the southeastern end of the property, and two diamond drill holes, WN-14 and WN-15, drilled in 1980 in the north-central part of the property on the Ross Channel Grid. All three drillholes were shallow (

914 W Project :

The 914W project consists of one claim covering 1,260 ha approximately 48 km southwest of Cameco’s Key Lake Operation. Highway 914 runs through the western edge of the project, providing excellent access for exploration. Historical geological mapping of the property and surrounding area has shown that the project is predominantly underlain by prospective Wollaston Supergroup pelitic and psammitic to arkosic gneisses of the Western Wollaston Domain, which host significant unconformity-related uranium mineralization further to the north in the Athabasca Basin as well as pegmatite-hosted uranium mineralization elsewhere in the Wollaston Domain.

914W, 914, 914N, and Elevator Projects Map:
https://skyharbourltd.com/_resources/maps/Sky_914_Elevator_20230727.jpg

Despite the project’s proximity to Highway 914 and prospective geology, the project has seen limited exploration work. The earliest work on the 914W property included airborne EM and magnetic surveys and ground geological reconnaissance in 1968-1970, lake water and sediment sampling in 1976, ground VLF-EM, magnetic, and radiometric surveys, geological mapping, trenching, as well as sampling on the project and surrounding areas. Immediately to the north of the 914W property, prospecting led to the discovery of the Scurry Rainbow Zone E (SMDI1961) and the Don Lake Trenches (SMDI 1983), where up to 1,288 ppm U was encountered in drill hole ML-1 (SMDI1961) in a pyroxene-rich unit, and surface prospecting revealed up to 0.64% U 3 O 8 in a trench at Don Lake Zone E (SMDI 1983). More recently, the project has seen airborne geophysical coverage by helicopter-borne VTEM (southern half) in 2005 and Tempest TDEM (northern half) in 2007, with prospecting, geological mapping, rock/sediment sampling and lake sediment sampling occurring on the project and surrounding areas in 2005-2007. However, much of the most recent exploration work was completed on areas outside of the extents of the 914W project and the project remains underexplored and prospective for unconformity-related and pegmatite-hosted uranium and REE’s.

Karin Project:

One additional claim was added to Skyharbour’s Karin Project during this latest round of staking, extending the project to cover six claims totalling 24,265 ha, approximately 21 km to 33 km east of Highway 914 and 20 km southeast of Cameco’s Key Lake operation. This new claim, totalling 5,882 ha, is adjacent to Skyharbour’s Foster project. Like the remainder of the Karin project, it is underlain by Wollaston Group metasedimentary gneisses, mostly psammitic to meta-arkosic in composition but with localized prospective pelitic to psammopelitic gneisses in fold noses, and it is prospective for both unconformity-related and pegmatite-hosted uranium mineralization.

Karin Project Map:
https://skyharbourltd.com/_resources/maps/Sky_Karin_20230727.jpg

The Karin project, including the new claim, had seen some exploration in the late 1960’s to early 1980’s, including airborne EM, magnetics and radiometrics, radon surveys, prospecting, geological mapping, lake water and sediment sampling, as well as a limited amount of diamond drilling. Two drill holes were attempted on the new claim added to the Karin project, however both attempts were lost during casing. Five drill holes that were successfully drilled on the remainder of the Karin project intersected Wollaston Supergroup meta-arkose and semipelitic to pelitic gneisses, amphibolite and pegmatite to granodiorite, along with localized hematite, chlorite, epidote, and/or goethite alteration. One of these drillholes, 78-1, intersected a weakly radioactive pegmatite which returned 0.025% U3O8 over 0.45 m at a depth of 72.85 m (AF 74H03-0036). The drilling on the Karin project was targeting some of the stronger EM conductors and radon anomalies on the property, however several other historical EM anomalies did not receive follow-up work. Given that this work took place prior to the development of modern geophysics and uranium exploration models, it is likely that additional prospective targets remain untested on the Karin project. The only recent exploration on the project consisted of limited prospecting in 2008, which led to the discovery of a pegmatite outcrop that returned 181 ppm U, 205 ppm Nb, and 39 ppm Ta (SMDI 5179). The Karin project has otherwise been unexplored since the 1980’s and remains prospective for both intrusive-type and unconformity-related uranium deposits and intrusive-related REE’s.

Marketing Agreement with Outside the Box Capital :

Skyharbour also announced that it has entered into a six month marketing and consulting contract with Toronto-based marketing firm Outside The Box Capital Inc. (‘OTBC’). OTBC specializes in various social media platforms and digital marketing strategies, and will be able to facilitate greater awareness and widespread dissemination of the Company’s news. In connection with the agreement set to commence in August, 2023, and run for six months, the Company will pay Outside The Box Capital Inc. a total cash fee of CAD $100,000 plus applicable taxes. Outside The Box Capital Inc. owns no securities of the Company as of the date hereof and is arm’s length to the Company. The engagement of OTBC remains subject to TSX Venture Exchange approval.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.

*SMDI refers to the Saskatchewan Mineral Deposits Index and ‘AF’ refers to Saskatchewan Mineral Assessment File.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with twenty-four projects, ten of which are drill-ready, covering over 518,000 hectares (over 1.2 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U 3 O 8 over 5.9 metres including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at the South Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.

Collectively, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_V2A_20230727.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

This release includes certain statements that may be deemed to be ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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Where Does Tesla Get its Lithium? (Updated 2023)

As the energy transition continues to unfold, US electric vehicle (EV) pioneer Tesla (NASDAQ:TSLA) has been making moves to secure supply of the raw materials it needs to meet its production targets.

Lithium in particular has caught the attention of CEO Elon Musk. Back in 2020, the battery metal had a spotlight moment at Tesla’s Battery Day, when Musk shared that the company had bought tenements in the US state of Nevada, and was looking for a new way to produce lithium from clay — a process yet to be proven at commercial scale.

Since then, lithium prices have hit all-time highs and, despite retreating in 2023, have stayed elevated. Prices for other key battery metals have also increased, leading to higher costs for batteries themselves. According to Benchmark Mineral Intelligence, raw materials currently make up about 80 percent of battery costs, up from around 40 percent back in 2015.

“Price of lithium has gone to insane levels,” Musk tweeted back in April 2022. “There is no shortage of the element itself, as lithium is almost everywhere on Earth, but the pace of extraction/refinement is slow.”

Most lithium mining happens in Australia from hard-rock sources and in Chile from brines. But lithium refining is dominated by China, which currently accounts for more than 75 percent of global lithium processing capacity.

“I’d like to once again urge entrepreneurs to enter the lithium-refining business. The mining is relatively easy, the refining is much harder,” Musk said during a July 2022 earnings call for Tesla, adding that there are software-like margins to be made in the lithium-processing business. “You can’t lose — it’s a license to print money.”

Do Tesla batteries have lithium and cobalt?

As mentioned, it wasn’t just lithium that saw prices climb in 2021 — cobalt doubled in price that same year, and although it has declined since then, the battery metal remains essential for EV batteries. Most cobalt mining takes place in the Democratic Republic of Congo, which is often associated with child labor and human rights abuses, fueling concerns over long-term supply.

Tesla is known for using nickel-cobalt-aluminum (NCA) cathodes developed by Japanese company Panasonic (OTC Pink:PCRFF,TSE:6752). This type of cathode has higher energy density and is a low-cobalt option, but has been less adopted by the industry compared to the widely used nickel-cobalt-manganese (NCM) cathodes. Aside from that, South Korea’s LG Energy Solutions (KRX:373220) is working on supplying Tesla with batteries using nickel-cobalt-manganese-aluminum cathodes.

That said, not all Tesla’s batteries contain cobalt. In 2021, Tesla said that for its standard-range vehicles it would be changing to lithium-iron-phosphate (LFP) cathodes, which are cobalt- and nickel-free. At the time, the company was already making vehicles with LFP chemistry at its factory in Shanghai, which supplies markets in China, the Asia-Pacific region and Europe.

In April 2023, Tesla announced that it plans to use this type of cathode chemistry for its short-range heavy electric trucks, which it calls ‘semi light.’ The company is also looking to use LFP batteries in its mid-sized vehicles.

How much lithium is in a Tesla battery?

How much lithium do Tesla batteries actually contain? For those interested in the EV space, it’s a fair question to ask.

The answer is that even though it might not be a huge amount compared to other raw materials, lithium can become a hurdle for any EV maker if there’s not enough — or not enough of the right quality.

Back in 2016, Musk said batteries don’t require as much lithium as they do nickel or graphite — he described lithium as ‘the salt in your salad’ and said it is about 2 percent of the cell mass. While he underestimated that number, as the chart below shows, the metal still only makes up about a 10th of a given battery.

Metal content of battery chemistries by weight.

Chart via BloombergNEF.

But a key factor to remember is volume — given the amount of batteries Tesla needs to meet its ambitious goals, it could hit a bottleneck if it can’t secure a steady supply of raw materials. Of course, this is true not just for Tesla, but for every carmaker producing EVs today and setting targets for decades to come.

For that reason, demand for lithium is expected to soar in the coming years. By 2030, Benchmark Mineral Intelligence forecasts that lithium demand will reach 2.4 million metric tons (MT) of lithium carbonate equivalent — much higher than the forecast 900,000 MT of demand expected in 2023.

Which lithium companies supply Tesla?

It’s important to understand that there is not only one company that supplies lithium to Tesla.

At the end of 2021, Tesla inked a fresh three year lithium supply deal with top lithium producer Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460). The Chinese company will provide products to Tesla for three years starting in 2022. Major miners Livent (NYSE:LTHM) and Albemarle (NYSE:ALB) also have supply contracts in place with the EV maker, and China’s Sichuan Yahua Industrial Group (SZSE:002497) agreed to supply battery-grade lithium hydroxide to Tesla back in 2020 for a period of five years.

The company also holds deals with junior miners for production that is yet to come on stream. Liontown Resources (ASX:LTR,OTC Pink:LINRF) is set to supply Tesla with lithium spodumene concentrate from its AU$473 million Kathleen Valley project. The deal is for an initial five year period set to begin in 2024, conditional on Liontown starting commercial production by 2025.

Core Lithium (ASX:CXO,OTC Pink:CXOXF) was previously in talks with Tesla to supply the car company with lithium from its Finniss project, but negotiations collapsed in October 2022. The lithium firm remains open to further dialogue with Tesla.

In January 2023, Tesla amended its agreement with Piedmont Lithium (ASX:PLL,NASDAQ:PLL), which is now set to supply the US automaker with spodumene concentrate from the past-producing North American Lithium operation — a project Piedmont is developing with Sayona Mining (ASX:SYA,OTCQB:SYAXF). Under the amended agreement, the ASX-listed company will deliver approximately 125,000 MT of spodumene concentrate to Tesla beginning in the second half of 2023 through to the end of 2025.

Even though Tesla has secured lithium from all these companies, the EV supply chain is a bit more complex than buying lithium directly from miners. Tesla also works with battery makers, such as Panasonic and CATL (SZSE:300750), which themselves work with other chemical companies that secure their own lithium deals.

What company makes Tesla’s batteries?

Tesla is currently working with Japanese company Panasonic, its longtime partner, as well as South Korea’s LG Energy Solutions, the second largest battery supplier in the world. They supply the EV maker with cells containing nickel and cobalt.

China’s CATL has been supplying LFP batteries to Tesla for cars made at its Shanghai plant since 2020. It’s also been reported that BYD Company (OTC Pink:BYDDF,SZSE:002594) is supplying Tesla with the Blade battery — a less bulky LFP battery — which the car manufacturer has used in some of its models in Europe.

Are Tesla’s batteries expensive because of lithium costs?

Battery costs have been rising on the back of inflation, price hikes for raw materials and the ongoing Russia-Ukraine war, among other factors. As mentioned, raw materials, including lithium, currently make up about 80 percent of battery costs, up from around 40 percent back in 2015, according to information from Benchmark Mineral Intelligence.

Lithium prices are at historic highs, and it’s not only spot prices — lithium producers have said contract prices are also up, with some moving from fixed to more variable agreements.

Is there enough lithium for electric cars?

There’s plenty of lithium in the Earth’s crust, but extracting, processing and qualifying it for its use in EVs is a different story. Lithium demand from the EV sector is rising, a trend that is expected to continue throughout the decade. But supply is not keeping up, with many analysts and even lithium producers forecasting a tight market ahead.

At the moment, there aren’t enough raw materials in the pipeline to take the majority of EV makers beyond 2030, as per Benchmark Mineral Intelligence.

Will Tesla buy a lithium mine?

For carmakers, securing lithium supply to meet their electrification goals is becoming a challenge, which is why the question of whether they will become miners in the future continues to come up.

As mentioned, back in 2020, Musk surprised the lithium industry by saying Tesla had acquired the rights to lithium-rich clay deposits in Nevada; it said it had found a way to mine the material in a sustainable and simple way — using table salt and water.

But mining lithium is not easy, and despite speculation, it’s hard to imagine an automaker being involved in it, SQM’s (NYSE:SQM) Felipe Smith said. “You have to build a learning curve — the resources are all different, there are many challenges in terms of technology — to reach a consistent quality at a reasonable cost,” he noted. “So it’s difficult to see that an original equipment manufacturer (OEM), which has a completely different focus, will really engage into these challenges of producing.”

Even so, OEMs are coming to the realization that they might need to build up EV supply chains from scratch after the capital markets’ failure to step up, Benchmark Mineral Intelligence’s Simon Moores believes. Furthermore, automotive OEMs that are making EVs will in effect have to become miners.

“I don’t mean actual miners, but they are going to have to start buying 25 percent of these mines if they want to guarantee supply — paper contracts won’t be enough,” he said.

Which company is the top lithium producer?

When looking at the world’s lithium producers by market cap, the top three are: US-based Albemarle, which has lithium brine operations in the US and Chile and hard-rock operations in Australia; Chile’s SQM, which has its main operations in the Salar de Atacama in Chile; and Chinese company Ganfeng, which has resources around the world.

Where is Tesla’s lithium refinery?

Even though Tesla does not mine lithium at the moment, it recently broke ground on its Texas lithium refinery. Musk has said the facility could produce enough lithium for about 1 million EVs by 2025. The company is expecting to finish building the site by next year, reaching full production a year after. Tesla’s lithium refinery capacity is yet to be announced.

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

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Lithium Deposits: Pegmatite and Sedimentary (Updated 2023)

As lithium demand continues to rise, it’s useful for investors to gain an understanding of the different lithium deposit types at play.

Lithium is mined from three different deposit types: lithium brine deposits, pegmatite lithium deposits and sedimentary lithium deposits. Each comes with different project requirements, extraction methods and processing times.

Brine deposits, for example, are the most common, accounting for more than half of the world’s lithium resources, but may require longer processing periods. The majority of global lithium production comes from continental lithium brine deposits.

The best example of a continental lithium brine deposit is the 3,000 square kilometer Salar de Atacama in Chile, home to one of the world’s richest deposits of high-grade lithium. You can read more about this deposit type by clicking here.

Pegmatite lithium deposits and sedimentary lithium deposits are also important to know about, and the article below outlines their key characteristics. Scroll on to learn more about their importance today.

What are pegmatite lithium deposits?

Pegmatite is a coarse-grained intrusive igneous rock formed from crystallized magma below the Earth’s crust. Pegmatite lithium deposits, also known as hard-rock lithium deposits, can contain extractable amounts of a number of elements, including lithium, tin, tantalum and niobium.

Lithium in pegmatites is most commonly found in the mineral spodumene, but also may be present in other minerals such as petalite, lepidolite, amblygonite and eucryptite.

Australia, the US, Canada, Ireland, Finland and the Democratic Republic of Congo are known to host pegmatite lithium deposits. The top-producing spodumene pegmatite operation, known as the Greenbushes mine, is located in Australia, and it is owned by Talison Lithium. Talison is controlled 51 percent by China’s Tianqi Lithium (SZSE:002466) and 49 percent by Albemarle (NYSE:ALB).

Also in Australia is the Mount Cattlin spodumene mine, an open-pit mine that rests on a flat-lying pegmatite orebody. Mount Cattlin was originally developed by Galaxy Resources, which merged with Argentina-based miner Orocobre in August 2021 to form a multinational mining corporation rebranded as Allkem (ASX:AKE,OTC Pink:OROCF).

In addition, Allkem holds the James Bay lithium pegmatite project in Quebec. As of December 2021, its mineral reserves were estimated at 37.2 million metric tons with an average grade of 1.3 percent lithium oxide.

Hard-rock ore containing lithium is extracted at open-pit or underground mines using conventional mining techniques. The ore is then processed and concentrated using a variety of methods prior to direct use or further processing into lithium compounds.

Extracting pegmatite lithium from hard-rock ore is expensive, meaning that such deposits are arguably at a disadvantage compared to brine deposits. However, pegmatite lithium deposits have considerably higher lithium concentrations than brines, so deposits with extremely high lithium values may still be economically viable. The production of other metals, such as tin and tantalum, can also help offset costs.

It is worth noting that hard-rock deposits are not subject to the sometimes 12 month long processing times currently seen at some brine deposits.

What are sedimentary lithium deposits?

Sedimentary rock deposits account for about 8 percent of known global lithium resources, and are found in clay deposits and lacustrine evaporites.

In clay deposits, lithium is found in a mineral group called smectites. The most common type of smectite is hectorite, which is rich in both magnesium and lithium. It gets its name from a deposit containing 0.7 percent lithium found in Hector, California.

Many companies are in the research and development phases for their clay deposits, but no companies currently produce lithium from them.

The most commonly known form of lithium-containing lacustrine deposit is found in the Jadar Valley in Serbia, for which the lithium- and boron-bearing mineral jadarite is named.

The Jadar deposit, owned by Rio Tinto (NYSE:RIO,LSE:RIO,ASX:RIO), reportedly contains more than 200 million metric tons of lithium. The company claims it is one of the largest lithium deposits worldwide, and the project is currently in the prefeasibility stage. While Rio Tinto had committed US$2.4 billion to developing the asset, the Serbian government denied its permit in late 2021 following significant citizen protests.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company or commodity mentioned in this article.

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Is Now a Good Time to Buy Lithium Stocks?

After hitting all-time highs in 2022, lithium took a downward turn from November to May, when prices started to rebound. With prices now retreating again, many investors are wondering if it’s still a good time to buy lithium stocks.

Demand for lithium is expected to increase in the coming years as electric vehicle (EV) sales continue to beat forecasts to the upside in key markets. The energy storage sector is also a segment that could grow exponentially in the next decade.

Looking at 2023, lithium demand is forecast to increase by 28 percent year-on-year, with a further 24 percent increase year-on-year expected in 2024, according to Fastmarkets. By 2033, the firm anticipates lithium demand of around 3.5 million metric tons.

“Then we started this year with a bit of weakness in China with EV sales, but that’s come back as of May,” he said. “The economics of lithium are playing out as expected … we’ve come back to where I think is a fair position at the moment for the year.”

In terms of prices, Fastmarkets believes volatility will remain, which means lithium may move above and below the firm’s average annual forecast. Similarly, Chris Berry of House Mountain Partners said price volatility is likely to continue for the coming decade — not just for lithium, but for many other battery raw materials as well.

“That has implications, obviously, depending upon where you are in the supply chain — whether you are a miner, a cathode manufacturer or an original equipment manufacturer,” he said. “I think the market will ultimately dictate what is sustainable … I do think we’re very limited on the downside, the days of US$6,000 or US$10,000 (per metric ton) lithium are ancient history.”

When it comes to stocks, last year many lithium companies jumped on the back of favorable market conditions, with companies listed in Canada, the US and Australia seeing gains. But market uncertainty has been on the rise, hitting every sector.

Lithium equities are hypersensitive to the spot price, which at the end is noise and distraction, Tara Berrie of EV maker Rivian (NASDAQ:RIVN) said during a panel discussion at Fastmarkets’ recent Lithium Supply and Battery Raw Materials event.

“There will be a fundamental shortfall (in lithium) and (all type of) investment has to continue, otherwise any delays will extend project timelines that are massively long already,” said Berrie, who previously worked at Tesla (NASDAQ:TSLA), Allkem (ASX:AKE,OTC Pink:OROCF) and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO).

What factors should lithium investors consider in today’s market?

For Berry, cutting through the noise in the current environment is incredibly difficult. “That’s because if we’re sitting here today, and the lithium spot price is, let’s say US$41,000 to US$42,000, and contract prices are generally higher, when you think about those numbers and then you look at the entire lithium cost curve, literally every single project is economic,” he said. “So what you have to do is you have to weigh the distinct risks, the non-economic risks for specific projects.”

For his part, Hooper said investors still need to be very cognizant of global macro factors. “We get a little bit of a myopic view of our sector,’ he said, ‘and we’ve seen different headwinds — inflation, the Russia-Ukraine war, possible recession and so on — actually affect the lithium market when the fundamentals within the market have looked to be sound.”

He added that it is important to remember that lithium is not a commodity, but a specialty chemical.

“I think investors would do well to take money off the table when they’ve had substantial returns and look to reenter when shares have been beaten down,” he said. “I think to ‘buy and hold’ you need to be brave. It’s not to say you shouldn’t, it’s just that there are buying and selling opportunities given the world that we live in.”

For Howard Klein, Hooper’s partner at RK Equity, the lithium market is a stock-picking market right now.

Joe Lowry of Global Lithium also shared insight on how to cut through the noise when it comes to investing in lithium companies.

“I think the red flags are really, if you learn how to analyze this business, you see in the prefeasibility studies there’s always more optimism than is warranted. It’s endemic to the industry,” he said. “You need to look at the milestones and see when the first milestone slips; then you start looking at the next one and the next one.”

When it comes to investing in lithium stocks, Lowry said investors have to have the strength of their convictions.

“But I also think you have to adjust your thinking for circumstances,” he said. “Don’t get married to prejudices or assumptions that you have — be flexible and always go for quality.”

How to evaluate lithium projects?

When asked about how she chooses lithium projects, Rojas said she prefers brine projects due to her experience, but she is also interested in hard-rock assets.

Aside from type of deposit, she looks at grades above 500 milligrams per liter in brine with low impurities, and 1 percent in spodumene ore, ideally with known deposits in the vicinity.

“Going a step further, even when early, is important to understand what management’s preliminary plans for extraction are,” Rojas said. “Although evaporation ponds have been a workhorse and are commonly used, I’m excited to see what direct lithium extraction (DLE) can bring.”

There are some deal breakers for Rojas when assessing lithium projects.

“I prefer to stay away from low grades — although new technologies will close the gap soon, I believe, and there are alternatives such as resins and DLE variants, which potentially can make a big difference there, so I’m keeping an eye,” she said.

She also avoids OTC listings, and in terms of jurisdictions, Rojas said she stays away from anything outside of Australia, Argentina, Chile, Brazil, the US and Canada.

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

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