Tag: Industrial Metals & Mining

Eskay Mining Corp. (ESKYF) – Observations from the 2023 Diamond Drill Program

Posted on by cpereira@noblefcm.com


Friday, November 03, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Productive drill season. Eskay Mining had a productive 2023 diamond drill and exploration season at its 100% controlled Consolidated Eskay Gold Project. The roughly 6,000 meter drill program centered on seven targets: 1) Cumberland, 2) Scarlet Knob-Bruce Glacier, 3) Tarn Lake, 4) Hexagon-Mercury, 5) Maroon Cliffs, 6) Storie Creek, and 7) TV South. While the company confirmed new precious metal rich volcanogenic massive sulfide (VMS) discoveries, the most significant outcome, in our view, is that the program highlighted the significant exploration potential in the areas between the Cumberland target and the TV-Jeff complex. Tied for second are results from Scarlet Knob and Tarn Lake.

Encouraging results at Cumberland. Cumberland is ~6 kilometers south of the TV deposit and is similarly situated along the east side of the Eskay anticline. Nine holes were completed at the Cumberland target. Several returned promising assays, including Hole CBL23-28 which returned 3.02 grams of gold per tonne, 68.66 grams of silver per tonne, 0.24% copper, 0.74% lead, and 4.86% zinc, or 6.28 grams of gold equivalent, over 15 meters.


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*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. 

LithiumBank Resources (LBNKF) – Recent Financing Provides Flexibility to Accelerate Progress at Boardwalk and Park Place

Posted on by cpereira@noblefcm.com


Thursday, October 26, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Private placement oversubscribed. LithiumBank recently closed a private placement of 3,506,500 units at a price of C$1.00 per unit. Originally, the company had planned to raise C$2 million, which was later increased to C$3 million. Each unit is comprised of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase an additional share at a price of C$1.50 per share for a period of 24 months from the date of issuance. Coupled with over C$6 million designated for exploration, the financing provides discretionary funds to advance LithiumBank’s Boardwalk and Park Place projects and accelerate pilot plant testing with G2L Greenview Resources.

Significant insider participation. Demonstrating their own commitment and confidence in LithiumBank, insiders of the company purchased 970,000 units or 27.66% of the total units offered in the private placement. Mr. Gianni Kovacevic, Director, purchased 250,000 units, Mr. Christopher Murray, Director, purchased 250,000 units, Mr. Paul Matysek, Executive Chairman and Director purchased 150,000 units, Ms. Ekaterina Zotova, Director, purchased 150,000 units, Mr. Rob Shewchuk, CEO and Director, purchased 100,000 units, Mr. Kevin Piepgrass, COO, purchased 40,000 units, Mr. Steven Piepgrass, Director, purchased 20,000 units, and Ms. Ann Fehr, CFO, purchased 10,000 units.


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LithiumBank Resources (LBNKF) – Development Plans for Boardwalk and Park Place Move into Sharper Focus

Posted on by cpereira@noblefcm.com


Monday, October 16, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Private placement financing. LithiumBank Resources announced the upsizing of a private placement to three million units at a price of C$1.00 per unit for gross proceeds of C$3 million. LithiumBank directors, officers, and consultants are expected to purchase more than 1.2 million of the units. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of C$1.50 for a period of 24 months from the date of issuance.

Stepping up the pace at Boardwalk and Park Place. The net proceeds are expected to increase the company’s cash position to over C$9 million and be used to accelerate the advancement of its direct lithium brine projects. LithiumBank expects to complete drilling and sampling to upgrade resources and conduct testing using a 10,000 liter/day pilot plant to determine key performance indicators at its Boardwalk and Park Place projects.


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*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. 

Century Lithium Corp. (CYDVF) – Time to Step Up?

Posted on by cpereira@noblefcm.com


Friday, September 29, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Near-term weakness presents an opportunity. Lithium stocks have been weighed down by a decline in lithium spot prices this year driven mainly by factors in China. The recent price of battery grade lithium carbonate was ~US$23,300 per tonne. We think it presents an opportunity for longer-term investors based on favorable intermediate and long-term lithium fundamentals supported by growth in the North American electric vehicle market. While commodity spot prices tend to be volatile, long-term supply contracts will likely account for market volume growth as electric vehicle industry participants seek to secure their own lithium sources.

North American lithium projects have gained traction. With critical minerals supplies subject to geopolitical risk, lithium projects in North America benefit from a variety of funding options as battery manufacturers and car makers seek to secure supplies to de-risk their own long-term objectives. General Motors’ investment and offtake agreement with Lithium Americas to advance the Thacker Pass lithium project in Nevada validates the commercial potential of similar projects. Another example is the U.S. Dept. of Energy’s commitment to lend up to US$700 million to develop Ioneer’s Rhyolite Ridge project in Nevada coupled with US$490 million of conditional financing from Sibanye-Stillwater and binding offtake agreements with Ford, Toyota/Panasonic, and EcoPro.


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*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. 

LithiumBank Resources (LBNKF) – DLE Intellectual Property License Agreement with G2L Greenview Resources

Posted on by cpereira@noblefcm.com


Tuesday, September 12, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Licensing agreement. LithiumBank Resources executed an intellectual property license agreement with G2L Greenview Resources, a subsidiary of Go2Lithium Inc., encompassing direct lithium extraction (DLE) technologies based on ion-exchange that will be used to extract lithium salts from enriched brines present at LithiumBank’s projects in Alberta and Saskatchewan. LithiumBank expects to release an updated preliminary economic assessment for the Boardwalk project late in the fourth quarter of 2023 that will reflect test work using the technology and the impact of Canadian incentive tax credits for lithium brine processing.

Licensing and financial terms. The license is exclusive to LithiumBank in Alberta and Saskatchewan and may be sub-licensed by LithiumBank to an acquirer of any of its properties in Alberta or Saskatchewan subject to certain conditions. LithiumBank will issue up to 14 million common shares in staggered fashion to G2L upon satisfaction of certain milestones.


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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. 

Eskay Mining Corp. (ESKYF) – Drilling Program Yields Early Successes

Posted on by cpereira@noblefcm.com


Friday, September 01, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Consolidated Eskay Gold Project. Eskay Mining is focused on the exploration and development of precious metal volcanogenic massive sulfide (VMS) targets along the Eskay rift in a region of northwest British Columbia known as the Golden Triangle. The company’s 100%-controlled Eskay Gold Project encompasses 52,600 hectares, or 26 square kilometers, of highly prospective property within proximity to several world class gold deposits, including the adjacent past-producing Eskay Creek Mine.

Drilling program is focused on seven targets. Eskay has drilled approximately 4,300 meters of its planned 6,500-meter diamond drill program. This year’s program is focused on seven targets, including: 1) Tarn Lake, 2) Maroon Cliffs, 3) Hexagon-Mercury, 4) Storie Creek, 5) Cumberland, 6) Scarlet Knob-Bruce Glacier, and 7) TV South.


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*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. 

Century Lithium Corp. (CYDVF) – Collaboration with Koch is Yielding Significant Benefits

Posted on by cpereira@noblefcm.com


Tuesday, August 22, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Collaboration with Koch. Century Lithium is collaborating with Koch Technology Solutions (KTS) in the application of Koch’s proprietary Li-Pro equipment for the direct lithium extraction (DLE) portion of Century’s pilot plant where lithium is recovered from leach solution. Work continues within the DLE section to further increase lithium grades in solution and potentially eliminate a major evaporation step from the process.

Li-Pro leads to significant improvements. With the introduction of KTS’ Li-Pro system into the DLE stage of the pilot plant, the grades of the intermediate lithium solution produced at the pilot plant have increased while unwanted elements have been reduced. Lithium grades improved from 1,430 parts per million lithium to 6,780 parts per million lithium resulting in an increase in the ratio of lithium to total dissolved solids from 0.018 to 0.085 and a reduction in sodium from 25,580 parts per million sodium to 8,220 parts per million sodium. Preliminary internally assayed lithium solution grades have exceeded 8,000 parts per million lithium.


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*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. 

Century Lithium Corp. (CYDVF) – Optimizing the Direct Lithium Extraction Process

Posted on by cpereira@noblefcm.com


Thursday, August 10, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Successful collaboration with Koch. Century Lithium is collaborating with Koch Technology Solutions (KTS) in the application of Koch’s proprietary Li-Pro direct lithium extraction (DLE) process. In April, Century installed equipment from KTS and has operated the equipment at the pilot plant with significantly improved results.

Li-Pro leads to a higher grade lithium concentrate. With the integration of KTS’s DLE process, the grades of the intermediate lithium solution produced at the pilot plant have increased to the highest levels to date with an average grade of 7.5 grams per liter or 7,500 parts per million lithium. Lithium concentrations are four times higher than previously produced and unwanted elements in the final solution have been reduced. The process has resulted in the complete removal of calcium and magnesium along with significant reductions of sodium and potassium.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

LithiumBank Resources (LBNKF) – Sale of Saskatchewan Properties Keeps the Focus on Boardwalk and Park Place

Posted on by cpereira@noblefcm.com


Tuesday, August 01, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Sale of Saskatchewan properties. LithiumBank executed a definitive agreement to sell the company’s three lithium brine projects in Saskatchewan, Canada to Pristine Lithium Corp. The strategic sale is expected to expedite the development of the Saskatchewan properties while allowing LithiumBank to maintain a financial interest in the properties through an ownership interest in Pristine Lithium. LithiumBank is now positioned to focus on the development of Boardwalk and Park Place in the province of Alberta without having to dilute its resources by developing multiple projects in two jurisdictions.

Financial terms. LithiumBank will receive cash consideration of C$2,000,000, including a C$250,000 deposit and an additional C$1,750,000 payable upon closing. LithiumBank will receive 40 million common shares in the capital of Pristine Lithium, or buyer shares, representing roughly 47% of the outstanding buyer shares on a post-financing basis, along with 20 million warrants, each exercisable into one buyer share for a period of two years from the date of issuance. Upon filing a NI 43-101 compliant preliminary economic assessment technical report, Pristine will issue buyer shares or cash representing C$1,000,000 of consideration to LithiumBank.


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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. 

Eskay Mining Corp. (ESKYF) – New Targets Increase the Potential for New Discoveries

Posted on by cpereira@noblefcm.com


Friday, July 28, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Drilling has commenced. Eskay Mining has commenced this year’s diamond drill program at its 100% controlled Consolidated Eskay Gold Project in the Golden Triangle of British Columbia. The company’s exploration program is focused on precious metal-rich volcanogenic massive sulfide (VMS) deposits. Eskay Mining intends to complete up to 6,500 meters of core drilling. Closing the sale of five mining claims to Skeena Resources provided additional funding for the program.

Targets to be tested. Targets to be tested include: 1) Maroon Cliffs, 2) Hexagon-Mercury, 3) Tarn Lake, 4) Scarlet Knob, 5) Bruce Glacier, 6) Storie Creek, 7) Cumberland, and 8) TV South. Eskay recently started diamond drilling at the Tarn Lake target. A second drill is currently being mobilized to the site. These targets have been discussed by the company previously except for perhaps Bruce Glacier and Storie Creek.


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*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. 

Eskay Mining Corp. (ESKYF) – Sale of Mining Claims Enhances Financial Flexibility

Posted on by cpereira@noblefcm.com


Tuesday, July 11, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Sale of mining claims enhances financial flexibility. Eskay Mining recently sold five mining claims to Skeena Resources Limited (TSX: SKE, NYSE: SKE) for C$4 million in cash. Initial consideration of C$2 million was paid to Eskay upon closing with an additional C$1 million payable on October 31, 2023, and a final C$1 million payment due on December 31, 2023. Four of the claims are north and west of the Skeena Eskay Creek Project, and one of the claims is adjacent to the west side of the project.

Maintaining exposure to the properties’ long-term potential. Eskay Mining retained a 2% net smelter returns royalty (NSR) interest in the claims. Skeena may purchase 50% of the royalty at any time for C$2 million. Moreover, Eskay will not be required to pay any road use fees to Skeena for its use of the Eskay Creek Road for the five-year period ending December 31, 2027.


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*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. 

Eskay Mining Corp. (ESKYF) – Thoughts on the 2023 Drilling Program

Posted on by cpereira@noblefcm.com


Friday, June 09, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Location, location, location. Eskay Mining is focused on the exploration and development of precious metal volcanogenic massive sulfide (VMS) targets along the Eskay rift in a region of northwest British Columbia known as the Golden Triangle. The company’s Eskay precious metal rich VMS project encompasses 52,600 hectares, or 26 square kilometers, of highly prospective property within proximity to several world class gold deposits, including the adjacent past-producing Eskay Creek Mine, a high-grade gold-silver rich VMS deposit considered among the world’s most precious metal-rich volcanogenic massive sulfide deposits. 

2023 drill program. The 2023 drill program will focus on newly identified geophysical targets at Maroon Cliffs and Hexagon Mercury, along with additional work at Tarn Lake, TV and Cumberland. In total, we expect the program will entail roughly 6,000 to 7,000 meters of drilling.


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Garibaldi Resources Corp. (GGIFF) – Thoughts on the Upcoming Drill Program

Posted on by cpereira@noblefcm.com


Friday, June 02, 2023

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Building on the 2022 program. In 2022, Garibaldi tested targets from the 2021 Geotech deep-penetrating Z-Axis Tipper Electromagnetic (ZTEM) survey at the company’s E&L nickel-copper-cobalt massive sulphide project. Two holes were successful, including a deep hole which intersected two intervals of E&L gabbro more than 200 meters down plunge from previous drilling and nickel-bearing disseminated and semi-massive sulphide mineralization. The two successful drill holes are lined with polyvinyl chloride (PVC) and Garibaldi intends to conduct a geophysical borehole electromagnetic (BHEM) survey to aid the 2023 drilling program. We will be interested in the outcomes from the BHEM survey, particularly if it reveals any conductors off-hole.

Upcoming drill program. Drilling in 2023 will test for mineralization associated with broad low-resistivity anomalies identified in the Geotech survey. While subject to change, the 2023 drill program will likely commence in early July and entail three to four holes at the E&L target, two holes of approximately 500 meters depth at the B1 target, and two holes at the Palm Springs property. Drilling at E&L will focus on areas within the ZTEM anomaly tested in 2022. We expect the drill program to conclude at the end of October.


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*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.