Garibaldi Resources Corp is a Canadian-based junior exploration company. It is engaged in the acquisition, exploration, and evaluation of mineral properties located in Canada and Mexico. The company’s projects in Mexico include the La Patilla, the Rodadero, the Tonichi and the Iris project. Its projects in Canada include the PSP and King projects, The Cariboo Copper and Gold project, the Red Lion project, the Grizzly project, the Tora Tora project and the Black Gold project.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Significant geophysical survey results. Garibaldi released results from a 2021 Z-Axis Tipper Electromagnetic (ZTEM) survey completed over the company’s 180-square kilometer Nickel Mountain – Palm Springs Project claim groups. Recall that E&L Nickel Mountain represents the first magmatic nickel-copper-cobalt-PGE-rich massive sulphide system identified in the Eskay Camp. The survey identified a large anomalous zone directly below and along trend with mineralized E&L Nickel Mountain gabbro previously confirmed by drilling. The anomaly exceeds 3 kilometers in width and plunges 2 kilometers directly below the nickel-copper-cobalt PGE bearing intrusion which hosts high grade massive sulphides. The finding potentially extends the mineralized zone which could have positive implications for resource size and project economics.
Growing property-wide exploration potential. The presence of ZTEM-identified geophysical anomalies coincident with surface mineralization and conductive targets from Versatile Time Domain Electromagnetic (VTEM) surveys provide property-wide targets for magmatic and hydrothermal base and precious metal mineralization with high discovery potential …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Garibaldi Resources Corp is a Canadian-based junior exploration company. It is engaged in the acquisition, exploration, and evaluation of mineral properties located in Canada and Mexico. The company’s projects in Mexico include the La Patilla, the Rodadero, the Tonichi and the Iris project. Its projects in Canada include the PSP and King projects, The Cariboo Copper and Gold project, the Red Lion project, the Grizzly project, the Tora Tora project and the Black Gold project.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Significant geophysical survey results. Garibaldi released results from a 2021 Z-Axis Tipper Electromagnetic (ZTEM) survey completed over the company’s 180-square kilometer Nickel Mountain – Palm Springs Project claim groups. Recall that E&L Nickel Mountain represents the first magmatic nickel-copper-cobalt-PGE-rich massive sulphide system identified in the Eskay Camp. The survey identified a large anomalous zone directly below and along trend with mineralized E&L Nickel Mountain gabbro previously confirmed by drilling. The anomaly exceeds 3 kilometers in width and plunges 2 kilometers directly below the nickel-copper-cobalt PGE bearing intrusion which hosts high grade massive sulphides. The finding potentially extends the mineralized zone which could have positive implications for resource size and project economics.
Growing property-wide exploration potential. The presence of ZTEM-identified geophysical anomalies coincident with surface mineralization and conductive targets from Versatile Time Domain Electromagnetic (VTEM) surveys provide property-wide targets for magmatic and hydrothermal base and precious metal mineralization with high discovery potential …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Comstock Mining (LODE) Advancing from a Vision to Commercialization
Comstock Mining Inc. is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Core businesses. The company’s renewable fuels division, Comstock Fuels, is advancing technologies to commercialize the conversion of woody biomass into advanced cellulosic fuels. Comstock’s 90%-owned lithium-ion battery recycling business, LiNiCo, intends to commercialize a process to crush and separate lithium-ion batteries, extract lithium, nickel, cobalt, and graphite, and use the recovered metals to produce 99% pure cathode active precursor products. The company appears to be on track to meet milestones that we have discussed in previous notes.
Investor webcast. Comstock Mining hosted a webcast this week to discuss accomplishments during 2021 and the outlook. The company is still in investment mode as it lays the foundation for future earnings. Management reiterated its goal to generate annual revenues of at least $16 billion by 2030. Comstock is building commercial pilot scale cellulosic fuels and lithium-ion battery (LIB) facilities and …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Chakana Copper President & CEO David Kelley provides a preview of their upcoming presentation at NobleCon18
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About Chakana Copper
Chakana Copper Corp. is a Canadian based minerals exploration company and through its wholly owned Peruvian subsidiary, Chakana Resources S.A.C., is currently advancing the Soledad project near Aija, in the Ancash region of the highly prolific Miocene mineral belt of Peru.
Strong Clay and Sulfide Alteration Halo Associated With Previously Discovered Polymetallic Uranium Mineralization Extended
Structurally-Complex Area Identified in Sandstone and Deep Into Basement
Update on Corporate Activities in the Athabasca Basin and Thompson Nickel Belt
Vancouver, Canada, March 31, 2022 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce the successful completion of the 2022 drilling program at its 100%-owned Waterbury South uranium project. The project is located approximately 10 km southeast of the producing Cigar Lake uranium mine in the Eastern Athabasca Basin (Figure 1).
Figure 1 – Property location map for the Waterbury South project.
The drill program was focused on extending and understanding the geological controls of the polymetallic unconformity uranium mineralization associated with nickel, arsenic, cobalt, and zinc, intersected during the previous 2021 winter drill program (see News Release dated June 17, 2021). Program objectives were successfully met with the completion of six drill holes totalling 2,787 metres (m). Results indicate a structurally-complex fault system that extends the footprint of previously intersected strong sandstone and deep basement alteration.
Figure 2 – Drillhole section along WAT009 and WAT010 showing the distribution of the strong alteration and structure in the lower sandstone and basement along the fence.
Drillhole WAT010, drilled along the same fence as WAT009, targeted the unconformity projection of strong faulting intersected in the basement of WAT009. WAT010 intersected the unconformity target approximately 52 m north of WAT009 on section. The drillhole intersected a strongly altered and structured lower sandstone column with strong bleaching, pyrite, clay alteration, secondary hematite, desilicification, and clay-replaced sandstone (Figure 2). Strong bleaching and chlorite alteration extends over 60 m into the basement on WAT 010 and is associated with quartz-carbonate healed breccias that contain brittle reactivation . Based on the intensity of structure and alteration in the sandstone column, WAT010 is interpreted to have overshot the ideal target at the unconformity. The results on this fence from both 2021 and 2022 drilling indicate that strong hydrothermal alteration and fault structures are present above the unconformity and extend deep into the basement indicating the possible presence of a large mineralizing event nearby.
Drillhole WAT012 to the east of WAT010 confirmed the strike extension of strong alteration within WAT009 and WAT010. WAT012 intersected the unconformity approximately 55 m east of WAT009 (Figure 3). The lower sandstone column contains a five metre wide zone of strong hydrothermal alteration including bleaching, patches of strong black sulfide alteration, clay and chlorite, similar to WAT009 and WAT010. The strong bleaching and clay alteration extends into the upper four metres of the basement. Nearly 70 m below the unconformity, a series of 1 to 4 m wide strongly graphitic and re-activated fault zones characterized by broken core and quartz-carbonate healed breccias were intersected indicating further evidence of a major graphitic fault system in the basement. WAT012 is interpreted to have undershot the ideal target at the unconformity. WAT 014 was drilled to test the structural complexity in the area; it intersected bedding-controlled sulfide alteration throughout the lower sandstone column.
Figure 3 – Map of the Waterbury South project shows the complex structural relationship between the drillholes completed to date and the currently defined sandstone alteration.
The drillholes completed during the program show evidence for multiple orientations of re-activated fault structures. These fault structures are parallel and cross-cutting to the basement stratigraphy in the area. In other uranium deposits such as Eagle Point, cross-cutting and splay faults play a very important role in controlling and localizing fluid movement along the main graphitic strucures. In the case of Eagle Point, these cross-cutting and splay structures can be strongly altered and mineralized for several hundred metres away from the mine area. The sandstone and deep basement faults with strong alteration are indicative of the presence of hydrothermal processes generally associated with a uranium mineralizing event. Given the structural complexity encountered in the 2022 program, the Company is investigating use of high resolution geophysical surveys to plan the next phase of drilling.
Geochemical assay results for the 2022 drilling program are pending.
CanAlaska VP Exploration, Nathan Bridge, comments, “The CanAlaska team set out to understand the controls on the previously discovered polymetallic unconformity uranium mineralization in WAT009. The strong alteration system in WAT009, that is host to high-grade nickel-sulfides and associated uranium mineralization, was extended to the east and remains open in several directions. The Waterbury South area is structurally-complex, with multiple fault orientations and deep basement alteration that suggests multiple periods of reactivation and hydrothermal fluid-movement, key to uranium deposit formation in the Athabasca Basin. The results obtained during this drill season are promising and several kilometers of strike length remain open along this structural corridor.”
CanAlaska CEO, Cory Belyk, comments, “The 2022 program significantly increased our knowledge of the polymetallic uranium mineralization drilled in 2021. Continuation of strong sandstone and deep basement alteration along major structures is very encouraging and is an important aspect in nearly all uranium deposits in the Basin, specifically basement-hosted uranium deposits such as Eagle Point, where altered and mineralized cross-structures extend for several hundred metres away from the main deposit. The team did a great job of working out the geology and results from this program have generated nearby targets for the next round of drilling.”
Corporate Update
West McArthur Drill Preparation:
The Company has nearly completed its detailed Stepwise Moving Loop Time Domain Electromagnetic Survey (TDEM) on its West McArthur Joint Venture project. The geophysical survey is part of the approved $5 million 2022 exploration program. Preliminary survey results show multiple strong conductive responses along the Grid 5 trend that appear to be associated with newly interpreted potential folds and fault structures. The Company anticipates the program will be complete in early April and targets from the survey will be ready for drill testing during the upcoming summer exploration program.
Key Extension Ground Gravity Survey:
A ground gravity survey at the Company’s new Key Extension project is over 50% complete. Preliminary processing of the data has identified a series of gravity low features that are associated with conductors on the property. These initial results are encouraging as this association is common in many basement-hosted uranium deposits. The Company plans to release the results of the survey once the full data set has been received and final processing has been completed in preparation for the inaugural drilling program later in the year.
Manibridge Drill Program
Drilling at the Company’s Manibridge project is ongoing. The drilling program is being fully funded by Metal Energy Corp. as part of a staged earn-in option agreement. Metal Energy have earned a 49% interest in the property and have elected to proceed with the 70% earn-in option. CanAlaska is the current operator on the project and drilling is ongoing.
Hunter Geophysics
In the Thompson Nickel Belt, the Company is preparing for an airborne VTEM survey on it’s 100%-owned Hunter nickel project.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds.
The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska’s Vice President, Exploration.
“Peter Dasler” Peter Dasler, M.Sc., P.Geo. President CanAlaska Uranium Ltd.
Contacts:
Peter Dasler, President Tel: +1.604.688.3211 x 138 Email: info@canalaska.com
Cory Belyk, CEO and Executive Vice President Tel: +1.604.688.3211 x 138 Email: cbelyk@canalaska.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Strong Clay and Sulfide Alteration Halo Associated With Previously Discovered Polymetallic Uranium Mineralization Extended
Structurally-Complex Area Identified in Sandstone and Deep Into Basement
Update on Corporate Activities in the Athabasca Basin and Thompson Nickel Belt
Vancouver, Canada, March 31, 2022 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce the successful completion of the 2022 drilling program at its 100%-owned Waterbury South uranium project. The project is located approximately 10 km southeast of the producing Cigar Lake uranium mine in the Eastern Athabasca Basin (Figure 1).
Figure 1 – Property location map for the Waterbury South project.
The drill program was focused on extending and understanding the geological controls of the polymetallic unconformity uranium mineralization associated with nickel, arsenic, cobalt, and zinc, intersected during the previous 2021 winter drill program (see News Release dated June 17, 2021). Program objectives were successfully met with the completion of six drill holes totalling 2,787 metres (m). Results indicate a structurally-complex fault system that extends the footprint of previously intersected strong sandstone and deep basement alteration.
Figure 2 – Drillhole section along WAT009 and WAT010 showing the distribution of the strong alteration and structure in the lower sandstone and basement along the fence.
Drillhole WAT010, drilled along the same fence as WAT009, targeted the unconformity projection of strong faulting intersected in the basement of WAT009. WAT010 intersected the unconformity target approximately 52 m north of WAT009 on section. The drillhole intersected a strongly altered and structured lower sandstone column with strong bleaching, pyrite, clay alteration, secondary hematite, desilicification, and clay-replaced sandstone (Figure 2). Strong bleaching and chlorite alteration extends over 60 m into the basement on WAT 010 and is associated with quartz-carbonate healed breccias that contain brittle reactivation . Based on the intensity of structure and alteration in the sandstone column, WAT010 is interpreted to have overshot the ideal target at the unconformity. The results on this fence from both 2021 and 2022 drilling indicate that strong hydrothermal alteration and fault structures are present above the unconformity and extend deep into the basement indicating the possible presence of a large mineralizing event nearby.
Drillhole WAT012 to the east of WAT010 confirmed the strike extension of strong alteration within WAT009 and WAT010. WAT012 intersected the unconformity approximately 55 m east of WAT009 (Figure 3). The lower sandstone column contains a five metre wide zone of strong hydrothermal alteration including bleaching, patches of strong black sulfide alteration, clay and chlorite, similar to WAT009 and WAT010. The strong bleaching and clay alteration extends into the upper four metres of the basement. Nearly 70 m below the unconformity, a series of 1 to 4 m wide strongly graphitic and re-activated fault zones characterized by broken core and quartz-carbonate healed breccias were intersected indicating further evidence of a major graphitic fault system in the basement. WAT012 is interpreted to have undershot the ideal target at the unconformity. WAT 014 was drilled to test the structural complexity in the area; it intersected bedding-controlled sulfide alteration throughout the lower sandstone column.
Figure 3 – Map of the Waterbury South project shows the complex structural relationship between the drillholes completed to date and the currently defined sandstone alteration.
The drillholes completed during the program show evidence for multiple orientations of re-activated fault structures. These fault structures are parallel and cross-cutting to the basement stratigraphy in the area. In other uranium deposits such as Eagle Point, cross-cutting and splay faults play a very important role in controlling and localizing fluid movement along the main graphitic strucures. In the case of Eagle Point, these cross-cutting and splay structures can be strongly altered and mineralized for several hundred metres away from the mine area. The sandstone and deep basement faults with strong alteration are indicative of the presence of hydrothermal processes generally associated with a uranium mineralizing event. Given the structural complexity encountered in the 2022 program, the Company is investigating use of high resolution geophysical surveys to plan the next phase of drilling.
Geochemical assay results for the 2022 drilling program are pending.
CanAlaska VP Exploration, Nathan Bridge, comments, “The CanAlaska team set out to understand the controls on the previously discovered polymetallic unconformity uranium mineralization in WAT009. The strong alteration system in WAT009, that is host to high-grade nickel-sulfides and associated uranium mineralization, was extended to the east and remains open in several directions. The Waterbury South area is structurally-complex, with multiple fault orientations and deep basement alteration that suggests multiple periods of reactivation and hydrothermal fluid-movement, key to uranium deposit formation in the Athabasca Basin. The results obtained during this drill season are promising and several kilometers of strike length remain open along this structural corridor.”
CanAlaska CEO, Cory Belyk, comments, “The 2022 program significantly increased our knowledge of the polymetallic uranium mineralization drilled in 2021. Continuation of strong sandstone and deep basement alteration along major structures is very encouraging and is an important aspect in nearly all uranium deposits in the Basin, specifically basement-hosted uranium deposits such as Eagle Point, where altered and mineralized cross-structures extend for several hundred metres away from the main deposit. The team did a great job of working out the geology and results from this program have generated nearby targets for the next round of drilling.”
Corporate Update
West McArthur Drill Preparation:
The Company has nearly completed its detailed Stepwise Moving Loop Time Domain Electromagnetic Survey (TDEM) on its West McArthur Joint Venture project. The geophysical survey is part of the approved $5 million 2022 exploration program. Preliminary survey results show multiple strong conductive responses along the Grid 5 trend that appear to be associated with newly interpreted potential folds and fault structures. The Company anticipates the program will be complete in early April and targets from the survey will be ready for drill testing during the upcoming summer exploration program.
Key Extension Ground Gravity Survey:
A ground gravity survey at the Company’s new Key Extension project is over 50% complete. Preliminary processing of the data has identified a series of gravity low features that are associated with conductors on the property. These initial results are encouraging as this association is common in many basement-hosted uranium deposits. The Company plans to release the results of the survey once the full data set has been received and final processing has been completed in preparation for the inaugural drilling program later in the year.
Manibridge Drill Program
Drilling at the Company’s Manibridge project is ongoing. The drilling program is being fully funded by Metal Energy Corp. as part of a staged earn-in option agreement. Metal Energy have earned a 49% interest in the property and have elected to proceed with the 70% earn-in option. CanAlaska is the current operator on the project and drilling is ongoing.
Hunter Geophysics
In the Thompson Nickel Belt, the Company is preparing for an airborne VTEM survey on it’s 100%-owned Hunter nickel project.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds.
The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska’s Vice President, Exploration.
“Peter Dasler” Peter Dasler, M.Sc., P.Geo. President CanAlaska Uranium Ltd.
Contacts:
Peter Dasler, President Tel: +1.604.688.3211 x 138 Email: info@canalaska.com
Cory Belyk, CEO and Executive Vice President Tel: +1.604.688.3211 x 138 Email: cbelyk@canalaska.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Alliance Resource Partners (ARLP) Cash Flow Above All Else
Alliance Resource Partners LP operates as a coal mining company based in the United States. It functions through threesegments; Illinois Basin, Appalachia, and and Minerals. The Illinois Basin activity comprises of underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia and it makes up for most of the company’s revenue-generating operations. The Appalachia segment, on the other hand, consists of multiple operating segments, including the Mettiki mining complex, the Tunnel Ridge mining complex and the MC Mining mining complex. The Minerals segment includes oil & gas mineral interests held by AR Midland and AllDale I & II.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Initiating coverage. Alliance Resource Partners is a diversified natural resource company that generates revenue from the production and marketing of coal, and royalty income from coal, oil, and gas mineral interests located in favorable producing regions across the United States. Strong cash flows generated by the company’s operations are expected to support continued growth in its oil and natural gas royalty business, along with diversification into green energy sources that may include strategic minerals and metals, electric vehicle charging infrastructure, wind, and/or solar.
Strong cash flow growth profile. Demand for coal, oil, and gas remains robust and prices have risen in recent quarters. Free cash flow in 2021 was $302.2 million, well above capital expenditures of $123 million. In 2021, Alliance paid down over $100 million of debt and recently increased its quarterly cash distribution to unitholders by 25% to $0.25 per unit, or $1.00 on an annualized basis …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
March 30, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to announce results from its Lithium Extraction Pilot Plant in Amargosa Valley, Nevada (“Pilot Plant”). The interim test results were derived from the data acquired during the 3-, 7-, and 14-day continuous operation events, which utilized claystone from the Company’s Clayton Valley Lithium Project in Clayton Valley, Nevada. Results yielded a concentration of lithium into an intermediate solution product containing 2,700 parts per million (“ppm”) lithium with insignificant impurities (“Intermediate Solution”). This is in line with expectations and similar to the data used in the Pre-Feasibility Study (“PFS”, effective date August 5, 2020, amended March 15, 2021). This information will be incorporated in the Company’s upcoming Feasibility Study currently under the direction of Wood PLC.
Highlights:
Concentration of lithium into an Intermediate Solution containing 2,700 ppm lithium with insignificant impurities
Overall extraction rates of lithium, within the washed tails, are between 83% and 85%
Lithium extractions from the ion exchange in the lithium recovery area indicate separation efficiencies for lithium and major cations exceed 98%
Sodium and potassium removal in the lithium recovery area has approached 80% with less than 0.5% lithium entrainment
Overall impurity removal, specifically, magnesium, calcium, iron, and aluminum all exceed 99%
Work continues at the Pilot Plant evaporation process stage to allow the integration of the treatment of the Intermediate Solution to produce a high-grade concentrated lithium solution ready for off-site conversion to a final lithium product
“All primary components of the Pilot Plant are operating to design. The lithium extraction and recovery areas are meeting our expectations and we are very pleased with the optimization changes completed so far, as we are now consistently producing an Intermediate Solution containing 2,700 ppm lithium with negligible impurities” stated Dr. Bill Willoughby, President, and CEO of Cypress Development. “Our team is working on our Pilot Plant’s evaporation process to allow us to take our Intermediate Solution to a high-grade concentrated lithium solution, which is essentially our final step on-site. We expect this process to be completed and be tested in the second quarter.”
Results thus far have identified preliminary extraction rates of lithium within the washed tails are between 83% and 85%. Lithium extractions from the Lionex process are 98%. Impurity removal of magnesium, calcium, iron, and aluminum are all above 99%. Sodium and potassium removal in the lithium recovery area is 80% with less than 0.5% lithium entrainment. The remaining sodium and potassium are inconsequential to the final process.
Over the coming months, the Company will continue to run tests to further optimize its Pilot Plant and enhance its process flowsheet.
Plant Update
The Pilot Plant is undergoing modifications on an ongoing basis to further improve throughput and efficiencies. These modifications include the flowsheet with the intention of simplifying the impurity removal steps prior to lithium recovery. The Company has received most of the remaining analyses of the 1,400 samples collected during continuous operating runs. These results are undergoing compilation and review with respect to flow rates and mass balances in the various areas of the Pilot Plant and will form the basis of further optimization studies. Within the lithium recovery area, the results exceed expectations, with separation efficiencies for lithium and major cations are exceeding 98% and have confirmed the successful performance, thus far, of the Chemionex’s Lionex lithium recovery and concentration (direct lithium extraction or DLE) process.
Further, changes were made to the tailings handling. Based on the process, all recovered salt (NaCl), process solution, and water is recycled back into the system. No lithium recovery effects were noted with recycled solids and solutions. Changes to the tailing dewatering system has allowed lower moisture content the final tails to less than 40% moisture. Further changes are being made to allow washing additional lithium from the final tails.
Webinar
A webinar will be held by management of Cypress Development to discuss the results from its Lithium Extraction Pilot Plant on Wednesday March 30, 2022, at 8 a.m. Pacific time / 11 a.m. Eastern time. Shareholders, analysts, investors, and media are invited to join the live webcast by registering using the link below.
After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast.
A replay of the webcast will be available within 48 hours on the Company’s Media & Articles section of the Company’s website following the conclusion of the call.
Qualified Person
Todd Fayram, MMSA-QP is the “Qualified Person” as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure contained in this news release.
About Cypress Development Corp
Cypress Development Corp. is a Canadian based advanced stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America’s only lithium brine operation. Cypress is advancing its Clayton Valley Lithium Project in Nevada towards the production of high-purity lithium hydroxide suitable for battery construction.
ON BEHALF OF CYPRESS DEVELOPMENT CORP. WILLIAM WILLOUGHBY, PhD., PE President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. 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. 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, 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.
March 30, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to announce results from its Lithium Extraction Pilot Plant in Amargosa Valley, Nevada (“Pilot Plant”). The interim test results were derived from the data acquired during the 3-, 7-, and 14-day continuous operation events, which utilized claystone from the Company’s Clayton Valley Lithium Project in Clayton Valley, Nevada. Results yielded a concentration of lithium into an intermediate solution product containing 2,700 parts per million (“ppm”) lithium with insignificant impurities (“Intermediate Solution”). This is in line with expectations and similar to the data used in the Pre-Feasibility Study (“PFS”, effective date August 5, 2020, amended March 15, 2021). This information will be incorporated in the Company’s upcoming Feasibility Study currently under the direction of Wood PLC.
Highlights:
Concentration of lithium into an Intermediate Solution containing 2,700 ppm lithium with insignificant impurities
Overall extraction rates of lithium, within the washed tails, are between 83% and 85%
Lithium extractions from the ion exchange in the lithium recovery area indicate separation efficiencies for lithium and major cations exceed 98%
Sodium and potassium removal in the lithium recovery area has approached 80% with less than 0.5% lithium entrainment
Overall impurity removal, specifically, magnesium, calcium, iron, and aluminum all exceed 99%
Work continues at the Pilot Plant evaporation process stage to allow the integration of the treatment of the Intermediate Solution to produce a high-grade concentrated lithium solution ready for off-site conversion to a final lithium product
“All primary components of the Pilot Plant are operating to design. The lithium extraction and recovery areas are meeting our expectations and we are very pleased with the optimization changes completed so far, as we are now consistently producing an Intermediate Solution containing 2,700 ppm lithium with negligible impurities” stated Dr. Bill Willoughby, President, and CEO of Cypress Development. “Our team is working on our Pilot Plant’s evaporation process to allow us to take our Intermediate Solution to a high-grade concentrated lithium solution, which is essentially our final step on-site. We expect this process to be completed and be tested in the second quarter.”
Results thus far have identified preliminary extraction rates of lithium within the washed tails are between 83% and 85%. Lithium extractions from the Lionex process are 98%. Impurity removal of magnesium, calcium, iron, and aluminum are all above 99%. Sodium and potassium removal in the lithium recovery area is 80% with less than 0.5% lithium entrainment. The remaining sodium and potassium are inconsequential to the final process.
Over the coming months, the Company will continue to run tests to further optimize its Pilot Plant and enhance its process flowsheet.
Plant Update
The Pilot Plant is undergoing modifications on an ongoing basis to further improve throughput and efficiencies. These modifications include the flowsheet with the intention of simplifying the impurity removal steps prior to lithium recovery. The Company has received most of the remaining analyses of the 1,400 samples collected during continuous operating runs. These results are undergoing compilation and review with respect to flow rates and mass balances in the various areas of the Pilot Plant and will form the basis of further optimization studies. Within the lithium recovery area, the results exceed expectations, with separation efficiencies for lithium and major cations are exceeding 98% and have confirmed the successful performance, thus far, of the Chemionex’s Lionex lithium recovery and concentration (direct lithium extraction or DLE) process.
Further, changes were made to the tailings handling. Based on the process, all recovered salt (NaCl), process solution, and water is recycled back into the system. No lithium recovery effects were noted with recycled solids and solutions. Changes to the tailing dewatering system has allowed lower moisture content the final tails to less than 40% moisture. Further changes are being made to allow washing additional lithium from the final tails.
Webinar
A webinar will be held by management of Cypress Development to discuss the results from its Lithium Extraction Pilot Plant on Wednesday March 30, 2022, at 8 a.m. Pacific time / 11 a.m. Eastern time. Shareholders, analysts, investors, and media are invited to join the live webcast by registering using the link below.
After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast.
A replay of the webcast will be available within 48 hours on the Company’s Media & Articles section of the Company’s website following the conclusion of the call.
Qualified Person
Todd Fayram, MMSA-QP is the “Qualified Person” as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure contained in this news release.
About Cypress Development Corp
Cypress Development Corp. is a Canadian based advanced stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America’s only lithium brine operation. Cypress is advancing its Clayton Valley Lithium Project in Nevada towards the production of high-purity lithium hydroxide suitable for battery construction.
ON BEHALF OF CYPRESS DEVELOPMENT CORP. WILLIAM WILLOUGHBY, PhD., PE President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. 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. 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, 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.
Aurania Resources (AUIAF)(ARU:CA) Equity and Debt Financing Improves Financial Flexibility and Outlook
As of April 24, 2020, Noble Capital Markets research on Aurania Resources is published under ticker symbols (AUIAF and ARU:CA). The price target is in USD and based on ticker symbol AUIAF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.
Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Equity financing. Aurania closed the first tranche of a private placement with the sale of 1,586,653 units at a price of C$0.70 per unit for gross proceeds of C$1,110,997.10. Aurania previously announced its intention to raise up to C$1,500,000 with the sale of up to 2,142,857 units which are comprised of one common share and one common share purchase warrant which may be exercised to purchase one common share at a price of C$1.25 for a period of 24 months after the close of the offering.
Second tranche to close shortly. A second tranche is expected to close shortly and net proceeds will be used to maintain annual mineral concessions in Ecuador and to conduct further exploration and target refinement at the Awacha porphyry copper target and the Kuri-Yawi and Kuripan epithermal gold targets …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Unveils Bioleum™ Breakthrough; A Carbon Neutral Crude Oil Capable of Replacing Fossil Crude
VIRGINIA CITY, NEVADA, MARCH 29, 2022 – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced its 2021 results, summary of transactions completed in 2021, and our new business outlook.
Selected Strategic Highlights
Approved a new strategy with a mission of enabling systemic decarbonization and a vision of a net zero carbon world.
Acquired Comstock Innovations, formerly Plain Sight Innovations, with a portfolio of intellectual property that contributes to global decarbonization by efficiently converting massive supplies of unused and under-utilized woody-biomass resources into cellulosic ethanol, renewable diesel, sustainable aviation fuel, and other drop-in fuels.
Acquired LINICO Corporation and a developing portfolio of technologies that contribute to global decarbonization by efficiently converting a diverse array of lithium-ion batteries (“LIBs”) into electrification products, including lithium, graphite, nickel, cobalt, copper, and cathode active materials (“CAMs”).
Acquired Comstock Engineering, formerly Renewable Process Solutions, whose principals built twenty six biofuel refineries in the last fifteen years and managed multiple industrial-scale projects from construction to commissioning.
Established and integrated new leadership, including Kevin Kreisler, President and Chief Financial Officer, William McCarthy, Chief Operating Officer, David Winsness, Chief Technology Officer, and Rahul Bobbili, Chief Engineer.
Advanced Cellulosic Technology. Our cellulosic technologies can convert woody biomass into renewable fuels at extraordinary yields, including cellulosic ethanol and Bioleum™ – a remarkable new form of carbon neutral crude oil capable of replacing fossil crude for use in producing renewable diesel, aviation, and other drop-in fuels.
Advanced Electrification Technology. Our electrification technologies crush, separate, and condition every class of lithium-ion battery (“LIB”) feedstock together with their host devices and other electrification residues for unrivaled throughput and flexibility, and then – in contrast to any known competing process, immediately extract lithium to produce unique “black mass” metal powders that are cleaner and far more concentrated than competing products.
Advanced Monetizing Non-Strategic Assets. Our announced transactions for certain mineral and other properties now total over $25 million, including expected 2022 proceeds from Tonogold, Sierra Springs and others.
Selected Financial Results
Total assets nearly tripled to $126,954,632 during 2021, as compared to $43,123,562, at December 31, 2020. Net equity also nearly tripled to $92,970,522 during 2021, as compared to $31,779,206 at December 31, 2020.
Operating loss of $6,405,921 as compared to an operating loss of $5,474,261 for 2020, primarily resulting from increased administrative expense from acquisitions, increased personnel, and higher research and development costs.
Full year 2021 net loss of $24,583,620 and $(0.49) per share, as compared to full year 2020 net income of $14,931,970 and $0.49 per share. The results in each year were driven by non-routine transactions, including goodwill impairments, changes in fair values of derivatives, and gains on sales of non-strategic assets.
Debt was $4,486,256 million on December 31, 2021, representing unsecured promissory notes.
Cash and equivalents were $5,912,188 on December 31, 2021.
Outstanding common shares were 67,707,832 at March 28, 2022, and 71,207,832 at December 31, 2021.
“Our operating results reflect our investments in technology, people, and the increased research and development focus during the year, as we integrated the transactions necessary to build the foundation for growth,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Our investments during the year are already yielding breakthrough advancements in technology, and our team is making remarkable progress.”
The Company previously announced its plans to build, own, and operate a fleet of advanced carbon neutral extraction and refining facilities, with the goal of generating over $16 billion in revenue on an annualized basis by 2030. The Company has now formed a renewable fuels subsidiary, Comstock Fuels, that will efficiently convert wasted, unused, widely available, and rapidly replenishable woody biomass into advanced cellulosic fuels, unlocking vast quantities of historically underutilized feedstocks. These fuels work in existing infrastructure, depots, fueling stations, vehicles, and anything that burns fossil fuels. Just one of our biorefineries can produce over 100 million gallons of biofuel per year, including over 70 million gallons of cellulosic ethanol and 30 million gallons of renewable diesel from just 1 million metric tons of woody biomass per year.
“The scale of the financial and environmental impact that we can enable with our technologies is staggering,” continued De Gasperis. “There isn’t a technology on Earth that can absorb carbon from the atmosphere as quickly as trees, or that can offset as much fossil emissions from the 1.5 billion cars and trucks on today’s roads faster than by burning renewable fuels instead of fossil fuels. In this context, we have struck massive untapped supplies of carbon neutral oil that are hidden in plain sight.”
Electrification and continued advancements in energy storage are vitally necessary to reduce reliance on fossil fuels while shifting to and increasing use of renewable fuels. LiNiCo holds the rights to a portfolio of innovative processes that efficiently crush and separate LIBs, extract lithium, nickel, cobalt, and graphite, and reuse the recovered metals to produce 99% pure CAMs. These technologies give LiNiCo and its existing 137,000 square foot battery metal recycling facility differentiating competitive advantages, including the ability to process upwards of 100,000 tons of LIBs per year into an array of new products.
According to International Energy Agency (“IEA”), there were more than 10 million electric vehicles (“EVs”) on the road in 2020, with new EV registrations increasing by 41% over 2019 and another 140% during the first quarter of 2021. Meeting the increased EV demand is estimated to require about five times more lithium carbonate equivalent (“LCE”) than the entire lithium mining industry produces today. The world is clearly focused on further accelerating electrification to reduce reliance on fossil fuels, creating and driving this extraordinary demand for lithium, as well as nickel, cobalt, and other critical electrification resources. The push to electrify is so urgent that the Biden Administration recently invoked the Defense Production Act to develop increased lithium production capabilities in the United States.
“Our technologies are meeting the realities of this demand shortfall by extracting lithium first, immediately and efficiently, thereby enabling profitability at the earliest stages of production. The combination of that capability with the breadth of our feedstock acceptance capabilities positions our LIB recycling business to contribute billions to our enterprise value just based on the existing valuations of comparable public companies,” continued De Gasperis.
The Company is currently building commercial pilot scale facilities for LIBs and is preparing to commence operations at its state-of-the-art battery metal recycling facility later this year. The Company has already made significant strides in forging new cellulosic revenue and licensing streams, and is currently finalizing definitive agreements and timeframes, which will be shared soon. The Company has also made meaningful progress towards completing the monetization of its non-strategic assets as quickly as possible, while funding its businesses and limiting management’s focus to the renewable objectives outlined above.
De Gasperis concluded: “We look forward to our next communication and seeing those of you who can attend this year’s Annual General Meeting on May 26, 2022, where we plan on presenting our business plans and near-term revenues. We are extraordinarily focused on the renewable energy businesses that most impact our stakeholders in 2022 and beyond.”
About Comstock Mining Inc.
Comstock Mining Inc. (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting massive supplies of under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future changes in our research and development; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in reports that we file with the Securities and Exchange Commission, including Item 1A, “Risk Factors” in our most recently-filed Annual Report on Form 10-K and/or Quarterly Report on Form 10-Q, and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Neither this press release nor any related call or discussion constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.
Contact information:
Comstock Mining Inc. P.O. Box 1118 Virginia City, NV 89440 www.comstock.inc
Vox Royalty CEO Kyle Floyd provides a preview of their upcoming presentation at NobleCon18
NobleCon18 – Noble Capital Markets 18th Annual Small and Microcap Investor Conference – April 19-21, 2022 – Hard Rock, Hollywood, FL 100+ Public Company Presentations | Scheduled Breakouts | Panel Presentations | High-Profile Keynotes | Educational Sessions | Receptions & Networking Events
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About Vox Royalty
Vox is a high growth precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.
Unveils Bioleum™ Breakthrough; A Carbon Neutral Crude Oil Capable of Replacing Fossil Crude
VIRGINIA CITY, NEVADA, MARCH 29, 2022 – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced its 2021 results, summary of transactions completed in 2021, and our new business outlook.
Selected Strategic Highlights
Approved a new strategy with a mission of enabling systemic decarbonization and a vision of a net zero carbon world.
Acquired Comstock Innovations, formerly Plain Sight Innovations, with a portfolio of intellectual property that contributes to global decarbonization by efficiently converting massive supplies of unused and under-utilized woody-biomass resources into cellulosic ethanol, renewable diesel, sustainable aviation fuel, and other drop-in fuels.
Acquired LINICO Corporation and a developing portfolio of technologies that contribute to global decarbonization by efficiently converting a diverse array of lithium-ion batteries (“LIBs”) into electrification products, including lithium, graphite, nickel, cobalt, copper, and cathode active materials (“CAMs”).
Acquired Comstock Engineering, formerly Renewable Process Solutions, whose principals built twenty six biofuel refineries in the last fifteen years and managed multiple industrial-scale projects from construction to commissioning.
Established and integrated new leadership, including Kevin Kreisler, President and Chief Financial Officer, William McCarthy, Chief Operating Officer, David Winsness, Chief Technology Officer, and Rahul Bobbili, Chief Engineer.
Advanced Cellulosic Technology. Our cellulosic technologies can convert woody biomass into renewable fuels at extraordinary yields, including cellulosic ethanol and Bioleum™ – a remarkable new form of carbon neutral crude oil capable of replacing fossil crude for use in producing renewable diesel, aviation, and other drop-in fuels.
Advanced Electrification Technology. Our electrification technologies crush, separate, and condition every class of lithium-ion battery (“LIB”) feedstock together with their host devices and other electrification residues for unrivaled throughput and flexibility, and then – in contrast to any known competing process, immediately extract lithium to produce unique “black mass” metal powders that are cleaner and far more concentrated than competing products.
Advanced Monetizing Non-Strategic Assets. Our announced transactions for certain mineral and other properties now total over $25 million, including expected 2022 proceeds from Tonogold, Sierra Springs and others.
Selected Financial Results
Total assets nearly tripled to $126,954,632 during 2021, as compared to $43,123,562, at December 31, 2020. Net equity also nearly tripled to $92,970,522 during 2021, as compared to $31,779,206 at December 31, 2020.
Operating loss of $6,405,921 as compared to an operating loss of $5,474,261 for 2020, primarily resulting from increased administrative expense from acquisitions, increased personnel, and higher research and development costs.
Full year 2021 net loss of $24,583,620 and $(0.49) per share, as compared to full year 2020 net income of $14,931,970 and $0.49 per share. The results in each year were driven by non-routine transactions, including goodwill impairments, changes in fair values of derivatives, and gains on sales of non-strategic assets.
Debt was $4,486,256 million on December 31, 2021, representing unsecured promissory notes.
Cash and equivalents were $5,912,188 on December 31, 2021.
Outstanding common shares were 67,707,832 at March 28, 2022, and 71,207,832 at December 31, 2021.
“Our operating results reflect our investments in technology, people, and the increased research and development focus during the year, as we integrated the transactions necessary to build the foundation for growth,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Our investments during the year are already yielding breakthrough advancements in technology, and our team is making remarkable progress.”
The Company previously announced its plans to build, own, and operate a fleet of advanced carbon neutral extraction and refining facilities, with the goal of generating over $16 billion in revenue on an annualized basis by 2030. The Company has now formed a renewable fuels subsidiary, Comstock Fuels, that will efficiently convert wasted, unused, widely available, and rapidly replenishable woody biomass into advanced cellulosic fuels, unlocking vast quantities of historically underutilized feedstocks. These fuels work in existing infrastructure, depots, fueling stations, vehicles, and anything that burns fossil fuels. Just one of our biorefineries can produce over 100 million gallons of biofuel per year, including over 70 million gallons of cellulosic ethanol and 30 million gallons of renewable diesel from just 1 million metric tons of woody biomass per year.
“The scale of the financial and environmental impact that we can enable with our technologies is staggering,” continued De Gasperis. “There isn’t a technology on Earth that can absorb carbon from the atmosphere as quickly as trees, or that can offset as much fossil emissions from the 1.5 billion cars and trucks on today’s roads faster than by burning renewable fuels instead of fossil fuels. In this context, we have struck massive untapped supplies of carbon neutral oil that are hidden in plain sight.”
Electrification and continued advancements in energy storage are vitally necessary to reduce reliance on fossil fuels while shifting to and increasing use of renewable fuels. LiNiCo holds the rights to a portfolio of innovative processes that efficiently crush and separate LIBs, extract lithium, nickel, cobalt, and graphite, and reuse the recovered metals to produce 99% pure CAMs. These technologies give LiNiCo and its existing 137,000 square foot battery metal recycling facility differentiating competitive advantages, including the ability to process upwards of 100,000 tons of LIBs per year into an array of new products.
According to International Energy Agency (“IEA”), there were more than 10 million electric vehicles (“EVs”) on the road in 2020, with new EV registrations increasing by 41% over 2019 and another 140% during the first quarter of 2021. Meeting the increased EV demand is estimated to require about five times more lithium carbonate equivalent (“LCE”) than the entire lithium mining industry produces today. The world is clearly focused on further accelerating electrification to reduce reliance on fossil fuels, creating and driving this extraordinary demand for lithium, as well as nickel, cobalt, and other critical electrification resources. The push to electrify is so urgent that the Biden Administration recently invoked the Defense Production Act to develop increased lithium production capabilities in the United States.
“Our technologies are meeting the realities of this demand shortfall by extracting lithium first, immediately and efficiently, thereby enabling profitability at the earliest stages of production. The combination of that capability with the breadth of our feedstock acceptance capabilities positions our LIB recycling business to contribute billions to our enterprise value just based on the existing valuations of comparable public companies,” continued De Gasperis.
The Company is currently building commercial pilot scale facilities for LIBs and is preparing to commence operations at its state-of-the-art battery metal recycling facility later this year. The Company has already made significant strides in forging new cellulosic revenue and licensing streams, and is currently finalizing definitive agreements and timeframes, which will be shared soon. The Company has also made meaningful progress towards completing the monetization of its non-strategic assets as quickly as possible, while funding its businesses and limiting management’s focus to the renewable objectives outlined above.
De Gasperis concluded: “We look forward to our next communication and seeing those of you who can attend this year’s Annual General Meeting on May 26, 2022, where we plan on presenting our business plans and near-term revenues. We are extraordinarily focused on the renewable energy businesses that most impact our stakeholders in 2022 and beyond.”
About Comstock Mining Inc.
Comstock Mining Inc. (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting massive supplies of under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future changes in our research and development; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in reports that we file with the Securities and Exchange Commission, including Item 1A, “Risk Factors” in our most recently-filed Annual Report on Form 10-K and/or Quarterly Report on Form 10-Q, and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Neither this press release nor any related call or discussion constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.
Contact information:
Comstock Mining Inc. P.O. Box 1118 Virginia City, NV 89440 www.comstock.inc
