Nicola Mining Receives Multi-Year Area Based Exploration Permit for Its Mine-Permitted Treasure Mountain Silver Project
Figure 1. Treasure Mountain locationTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4873/254869_f589e05a049e09e2_001full.jpg
Receipt of the MYAB Permit, follows the Company's August 30th, 2024, announcement that it had received a ten-year mining lease extension (the "Extension") for Treasure Mountain2 under its M-239 permit. The Extension is valid through April 26, 2032, and receipt of the MYAB Permit positions the Company to leverage both mining and exploration options.
Treasure Mountain consists of an historic underground silver mine with a resource estimate in accordance with CIM definition standards3 and exploration upside to the north and west of the historic mine. The MB Zone is approximately 800 m northwest of the current mine workings on undrilled northern flank of the mountain. The Cal Vein was discovered at this location in 2010 and return a surface sample grading as high as 9,221g/t Ag, 1.02% Cu, 1.14% Pb and 1.03% Zn4. Subsequent soil sampling was conducted in 2011/2012 and 2013 with encouraging results.5 Small exploration programs conducted between 2019 and 2021 on the northwestern side of the mountain included soil sampling, rock sampling, mapping, and shallow drilling campaigns. These programs successfully identified a 2 km soil anomaly which appears to be related to a vein system of roughly the same strike length. Drill testing of the exposed vein confirmed continuity of mineralization coincidental with the soil anomaly.6
The MYAB Permit allows the Company to carry out the following exploration activities over the next five years in the areas shown below (Fig. 2):
30 drill holes
1,400 m of trenching
4,500 m of trail building
20 km of geophysical surveys with exposed electrodes
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4873/254869_f589e05a049e09e2_003full.jpg
Figure 2. Site map with MYAB Permit boundaries
Peter Espig, CEO of Nicola Mining Inc., commented, "Receipt of the MYAB under Permit Number MX-15-121 coupled with our recently received ten-year mine life extension under Permit M-239, puts Nicola into an envious position as the confluence of mine and exploration potential brings forth a project that most investors have forgotten. Bolstered by solid silver prices and with permits in hand, we are very excited about its potential and look forward to exploring our Treasure Mountain Project for the first time in over a decade"
Qualified PersonWilliam Whitty, P. Geo., the Company's VP Exploration, is the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and supervised the preparation of, and has reviewed and approved the technical information in this release.
About Nicola MiningNicola Mining Inc. is a junior mining company listed on the TSX-V Exchange and Frankfurt Exchange that maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. It has signed Mining and Milling Profit Share Agreements with high-grade BC-based gold projects. Nicola's fully permitted mill can process both gold and silver mill feed via gravity and flotation processes.
The Company owns 100% of the New Craigmont Project, a property that hosts historic high-grade copper mineralization and covers an area of over 10,800 hectares along the southern end of the Guichon Batholith and is adjacent to Highland Valley Copper, Canada's largest copper mine. The Company also owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.
On behalf of the Board of Directors
"Peter Espig"
Peter EspigCEO & Director
For additional information
Contact: Peter EspigPhone: (778) 385-1213 Email: info@nicolamining.comURL: www.nicolamining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 Treasure Mountain Silver Project / Mine: Link2 August 30, 2024, News: Link3 Ostensoe, E. A., Giroux, G. H. and Beaton, A. J., 2009, Technical Report, Resource Estimation, Mining and Reclamation Plan and Economic Evaluation, Treasure Mountain Property, Tulameen River Area, B. C., Canada.4 August 25, 2010, News: Link5 October 7, 2013, News: Link6 Assessment Report for 2021 Exploration
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254869
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
How to Play Nvidia Stock as the Plot Over Its China Business Thickens
It's hard to keep Nvidia (NVDA), the world's biggest company and the first one to command a $4 trillion market cap, out of the news cycle. Over the last few weeks, Nvidia has been in the news regarding its China business, and most recently, Reuters reported that the company is developing a new chip for China. In this article, we'll look at some of the recent developments related to Nvidia's China business and examine the company's outlook. More News from Barchart Should You Buy the Pullback in Palantir Stock Today? The Quantum Computing Race Is On: These 2 Stocks Appear Poised to Lead As SoFi Launches International Money Transfer Services, How Should You Play SOFI Stock? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Successive U.S. Governments Have Clamped Down on NVDA's Exports to China Why Nvidia's chips have been the building blocks for artificial intelligence (AI) models, they have also added a new dimension to the U.S.-China rivalry. President Joe Biden's administration imposed restrictions on Nvidia's export of advanced AI chips to China, citing fears over their dual military use. President Donald Trump's administration went a step further and blocked the exports of Nvidia's H20 chips to China. Nvidia had specifically designed these chips for China to meet the guidelines set by the U.S. government, and after the ban, it booked a charge of $4.5 billion in the first quarter of its fiscal 2026. Why Is China an Important Market for Nvidia? China was once Nvidia's second-largest market, but U.S. export control restrictions have taken a toll on its business there. During the fiscal Q1 2026 earnings call in May, CFO Collete Kress said, 'Losing access to the China AI accelerator market, which we believe will grow to nearly $50 billion, would have a material adverse impact on our business going forward and benefit our foreign competitors in China and worldwide.' Nvidia CEO Jensen Huang has said multiple times that the export restrictions would only fuel chip innovation in China as rivals, particularly Huawei, catch up. While the Trump administration has allowed Nvidia to resume H20 exports to China, the company will need to share 15% of its China revenues with the U.S. government. The unusual agreement left markets perplexed, as the ostensible reason the U.S. banned exports of advanced AI chips to China was because of national security concerns, and a cut in revenues does not help address that. Many see legal challenges to the revenue share agreement, and separately, lawmakers across the political divide have been critical of the export resumption. Reports suggest that Nvidia is developing a new AI chip for China. Tentatively named B30A, it is said to be based on the company's Blackwell architecture and would be more powerful than the H20, which is currently its most advanced chip sold in China. In its response to the reports of the new chip for China, Nvidia said, 'We evaluate a variety of products for our roadmap, so that we can be prepared to compete to the extent that governments allow.' It emphasized, 'Everything we offer is with the full approval of the applicable authorities and designed solely for beneficial commercial use.' China Does Not Looks Too Welcoming of Nvidia's H20 Meanwhile, the Chinese government hasn't been too welcoming of the H20 chip these days and has cautioned domestic companies against using these over fears of a U.S. government 'backdoor.' Nvidia has denied any such claims, but it remains to be seen whether Chinese companies defy the government warning to buy the H20. NVDA Stock Forecast Wall Street analysts are meanwhile not too perturbed by these concerns and have started raising Nvidia's target price ahead of its upcoming earnings report. TD Cowen raised Nvidia's target price to $235 and sees a 'clean narrative' for the stock despite concerns over its China business. Cantor Fitzgerald raised its target price from $200 to $240 as analyst C.J. Muse sees 'seemingly insatiable' demand for AI compute. Mizuho raised its target price from $192 to $205, while Morgan Stanley raised its from $200 to $206. All three brokerages expect Nvidia to beat consensus estimates when it reports its fiscal Q2 2026 earnings next week. Should You Buy NVDA Stock? While Nvidia's China business is shrouded in uncertainty, the company's non-China business is doing incredibly well. The June quarter earnings calls of other Big Tech companies, which include the so-called hyperscalers, showed that companies are not slowing down their AI capex, and if anything, they are doubling down amid early signs of monetization. Sovereign AI is yet another growth driver for Nvidia, as, given the growing importance of AI, major countries want to have more control over the technology. Huang has been globe-trotting for a reason and has been pitching sovereign AI on his trips to the Middle East and the European Union this year. Nvidia trades at a forward price-earnings (P/E) multiple of 45.2x, which does not look bloated in the context of the strong earnings growth that the company brings to the table. Moreover, markets never fully priced in a normal business environment for Nvidia in China, and any sales in the country would be incremental to Nvidia's top line and bottom line despite the 15% revenue share with the U.S. government. Overall, while the noise over the China business might put pressure on Nvidia stock in the near term, I continue to stay invested in the company and will use any further weakness to add to my positions. On the date of publication, Mohit Oberoi had a position in: NVDA. All information and data in this article is solely for informational purposes. This article was originally published on Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Yahoo
an hour ago
- Yahoo
Perseus Updates Mineral Resource and Reserve Estimates
perth, Aug. 21, 2025 (GLOBE NEWSWIRE) -- PERSEUS MINING UPDATES MINERAL RESOURCES AND ORE RESERVE ESTIMATES Executive Summary Perth, Western Australia/August 21, 2025/Perseus Mining Limited (ASX/TSX: PRU) is pleased to update estimates of its Mineral Resources and Ore Reserves as of 30 June 2025. A summary of the release is included below. For the full release please refer to or The Perseus Group's Measured and Indicated (M&I) Mineral Resources now total 7.8 Moz gold (Table 1) while Proved and Probable Ore Reserves total 5.0 Moz gold (Table 2). Not included in these estimates, is the Foreign/Historical Estimate for the Meyas Sand Gold Project (MSGP, formerly Block 14) including Indicated Mineral Resources1 consisting of 3.3 Moz Au (Table 3) and a Probable Mineral Reserve1 of 2.9 Moz gold (Table 4). The sources of change underlying the 2.1 Moz gold increase in Perseus's estimate of Ore Reserves against those reported at 30 June 2024 are presented in Error! Reference source not found.. As part of its annual planning cycle, the Company has reassessed the growth opportunities available within its portfolio with the approach of optimising the portfolio rather than focussing on fixed investment targets for each asset. In this way, the Company has sought to find the balance between investment in growth opportunities and the cash margin generated by the ESTIMATES PROJECT MEASURED RESOURCES INDICATED RESOURCES MEASURED & INDICATED RESOURCES INFERRED RESOURCES QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD MT G/T GOLD '000 OZ MT G/T GOLD '000 OZ MT G/T GOLD '000 OZ MT G/T GOLD '000 OZ Edikan 13.1 0.96 407 37.7 1.02 1,236 50.8 1.01 1,644 7.8 1.5 367 Sissingué3 1.5 1.18 56 5.3 1.85 317 6.8 1.71 373 0.2 1.2 7 Yaouré 11.5 0.79 293 42.6 1.68 2,301 54.1 1.49 2,594 16.9 1.8 982 Nyanzaga - - - 74.2 1.33 3,162 74.2 1.33 3,162 15.0 1.2 584 Total 26.1 0.90 756 159.8 1.37 7,017 185.9 1.30 7,773 39.9 1.5 1,940PROJECT PROVED PROBABLE PROVED & PROBABLE QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD MT G/T GOLD '000 OZ MT G/T GOLD '000 OZ MT G/T GOLD '000 OZ Edikan 8.6 0.91 250 21.1 1.08 730 29.7 1.03 980 Sissingué3 0.8 1.42 38 2.9 2.14 199 3.7 1.98 237 Yaouré 11.5 0.79 293 19.8 1.81 1,151 31.3 1.44 1,444 Nyanzaga - - - 52.0 1.40 2,342 52.0 1.40 2,342 Total 20.9 0.86 581 95.8 1.44 4,422 116.7 1.33 5,003 Notes for Table 1 and Table 2: 1 Refer to Notes to individual tables of Mineral Resources and Ore Reserves in respect of each project presented below. 2 Mineral Resources are inclusive of Ore Reserves. 3 Sissingué Mineral Resources and Ore Reserves include the Fimbiasso and Bagoé Projects in addition to the Sissingué Gold Mine. 4 The Company holds 90% of Edikan Gold Mine (EGM) and Yaouré Gold Mine (YGM), 86% of Sissingué Gold Mine (SGM) except Bagoé at 90%, and 80% of Nyanzaga Gold Project (NGP). 5 Excludes Foreign/Historical Estimates Foreign/historical estimatesTYPE INDICATED5 INFERRED Mt Au g/t Ag g/t Au koz Ag koz Mt Au g/t Ag g/t Au koz Ag koz Oxide 10.2 1.35 1.49 443 487 1.1 1.0 1.2 34 41 Trans. 13.4 1.22 1.33 527 575 1.5 1.0 1.2 50 57 Fresh 56.3 1.31 1.82 2,371 3,296 15.9 1.2 1.6 626 838 TOTAL 79.9 1.30 1.70 3,342 4,358 18.5 1.2 1.6 711 936 Notes for Table 3: Based on September 2018 estimates of Galat Sufar South and Wadi Doum Mineral Resources by MPR Geological Consultants Pty Ltd. 0.6 g/t cut-off grade applied to all material types. Estimates are not depleted for artisanal mining, the impact of which is not considered material. Galat Sufar South Mineral Resource estimates are truncated at 350 m depth, with around 90% of Indicated and Inferred resources occurring at depths of less than 240 and 300 m respectively. Wadi Doum estimates extend to around 255 m depth, with around 90% of Indicated and Inferred resources occurring at depths of less than 115 m and 190 m respectively. The depth limits imposed on the estimates are considered to largely confine the estimates to material with reasonable prospects of eventual economic extraction. Indicated Mineral Resources are inclusive of Mineral Reserves. Rounding of numbers to appropriate precisions may have resulted in apparent AREA CLASSIFICATION OXIDE TRANSITIONAL FRESH TOTAL '000 tonnes Au g/t '000 tonnes Au g/t '000 tonnes Au g/t '000 tonnes Au g/t Main Probable 4,347 1.27 5,088 1.19 13,488 1.31 22,923 1.28 East Probable 8,302 0.89 11,236 0.89 30,729 1.05 50,267 0.99 North East Probable 1,606 0.84 2,192 0.85 367 0.90 4,166 0.85 Total GSS Probable 14,255 1.00 18,516 0.97 44,584 1.13 77,356 1.07 Wadi Doum Probable 527 1.90 119 2.37 1,941 2.49 2,588 2.36 Block 14 Total Probable 14,783 1.03 18,635 0.98 46,525 1.19 79,943 1.11 Notes for Table 4: Based on Mineral Reserve Statement 7 November 2018. CIM Definition Standards were followed for the classification of Mineral Reserves. Mineral Reserves were optimised using a gold price of US$1,100/oz. Mining Cut-off grades vary between 0.32 g/t and 0.90 g/t. Rounding of numbers to appropriate precisions may have resulted in apparent inconsistencies. Perseus's Mineral Resource Estimates The Perseus Group's total M&I Mineral Resources reported as at 30 June 2025 are estimated to be 185.9 Mt grading 1.30 g/t gold, containing 7.8 Moz of gold, compared with the estimate of 30 June 2024 of 115.9 Mt grading at 1.31 g/t Au for 4.9 Moz of gold. The Mineral Resource Statement accounts for mining depletion of in-situ Mineral Resources and is reported inclusive of Ore Reserves. Inferred Resources are 39.9 Mt grading at 1.5 g/t Au for 1.9 Moz of gold, compared with the estimate of 30 June 2024 of 24.1 Mt grading at 1.6 g/t Au for 1.3 Moz of gold. Tonnes are reported as dry metric tonnes. All tabulated tonnes, grade and metal have been rounded to reflect appropriate precision in the estimate and may cause some discrepancies in totals. The Foreign/Historical Estimate for the MSGP Mineral Resource in Northern Sudan, announced on 28 February 2022 (see news release titled 'Perseus enters into agreement to acquire Orca Gold Inc.') is stated in the 'Foreign/Historical Estimate' subsection of this report and is reported separately from the Group's Mineral Resources detailed below. The Group Mineral Resource estimates are reported in accordance with the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code 2012). The classification categories of Measured, Indicated and Inferred under the JORC Code (2012) are equivalent to the CIM categories of the same names (CIM, 2014). For the purpose of satisfying 'reasonable prospects for eventual extraction' (JORC Code 2012), open pit Mineral Resources are reported above optimised open pit shells developed with actual and estimated operating costs and a long-term gold price assumption of US$2,100 per ounce, with the exception of Nyanzaga reported at US$2,000 per ounce. Underground Mineral Resources at CMA are constrained to below the CMA Stage 3 pit design and reported at a 1.5 g/t Au cut-off. Underground Mineral Resources at Edikan are constrained to a depth of 600 mRL at Esuajah South and are all exclusive of open pit Mineral Resources. Technical Reports associated with these Mineral Resources, have been prepared in accordance with NI 43-101 for the following operations: Nyanzaga Gold Project, Tanzania, NI 43-101 Technical Report, dated 10 June 2025 Yaouré Operations, Côte d'Ivoire, NI 43-101 Technical Report, dated 18 December 2023 Sissingué Operations, Côte d'Ivoire, NI 43-101 Technical Report, dated 29 May 2015 Edikan Operations, Ghana, NI 43-101 Technical Report, dated 6 April 2022 These reports can be found on Perseus's website at and on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website Perseus's Ore Reserve Estimate CRITERIA FOR ORE RESERVE CLASSIFICATION All Ore Reserves are reported in accordance with the JORC Code (2012) and are reported by category, deposit and type, above variable cut-off grades. The classification categories of Proved and Probable under the JORC Code (2012) are equivalent to the CIM categories Proven and Probable respectively (CIM, 2010). The Ore Reserve is classified as Proved and Probable corresponding to the Mineral Resource classifications of M&I and considering other factors where relevant. The deposits' geological models are well constrained. The Ore Reserve classification is considered appropriate given the nature of the deposits, the moderate grade variability, drilling density, structural complexity, confidence in input parameters based on operational experience and mining history. It was therefore considered appropriate to use Measured Mineral Resources as a basis for Proved Ore Reserves and Indicated Mineral Resources as a basis for Probable Ore Reserves. No Inferred Mineral Resources were included in Ore Reserve estimate with the exception of 2.8 koz of incidental Inferred which is included in the CMA underground development and is not considered material to the Ore Reserve. Technical Disclosure: All Mineral Reserves and Mineral Resources other than the Foreign/Historical Estimates were calculated as of 30 June 2025 and have been calculated and prepared in accordance with the standards set out in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves dated December 2012 (the 'JORC Code') and in accordance with National Instrument 43-101 of the Canadian Securities Administrators ('NI 43-101'). The JORC Code is the accepted reporting standard for the Australian Stock Exchange Limited ('ASX'). The definitions of Ore Reserves and Mineral Resources as set forth in the JORC Code (2012) have been reconciled to the definitions set forth in the CIM Definition Standards. If the Mineral Reserves and Mineral Resources were estimated in accordance with the definitions in the JORC Code, there would be no substantive difference in such Mineral Reserves and Mineral Resources. Competent Person Statement: The information in this report that relates to Mineral Resources is based on, and fairly represents, information and supporting documentation prepared by Daniel Saunders, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Saunders is a full-time employee of Perseus Mining Limited. Mr Saunders has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'' and to qualify as a 'Qualified Person' under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ('NI 43-101'). Mr Saunders consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to Ore Reserves is based on information compiled by Mr Adrian Ralph, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Ralph is a full-time employee of Perseus Mining Limited. Mr Ralph has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and a Qualified Person as defined in NI 43-101. Mr Ralph consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The Company confirms that the material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Edikan Gold Mine, Ghana' dated 6 April 2022, 'Technical Report — Yaouré Gold Project, Côte d'Ivoire' dated 18 December 2023, 'Technical Report — Sissingué Gold Project, Côte d'Ivoire' dated 29 May 2015, and 'Technical Report — Nyanzaga Gold Project, Tanzania' dated 10 June 2025 continue to information in this report that relates to the Mineral Resources and Probable Reserves of the Block 14 Project was first reported by the Company in a market announcement 'Perseus Enters into Agreement to Acquire Orca Gold Inc.' released on 28 February 2022. The Company confirms it is not in possession of any new information or data relating to those estimates that materially impacts of the reliability of the estimate of the Company's ability to verify the estimate as a Mineral Resource or Ore Reserve in accordance with Appendix 5A (JORC Code) and the information in that in that original market release continues to apply and have not materially changed. These estimates are prepared in accordance with Canadian National Instrument 43-101 standards and have not been reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the resource in accordance with the JORC Code and it is uncertain that following evaluation and/or further exploration work that the estimate will be able to be reported as a Mineral Resource or Ore Reserve in accordance with the JORC Code. Mr Saunders and Mr Ralph have reviewed this press release and all technical information regarding Orca's NI 43-101 Foreign/historical estimate and this information is approved by Adrian Ralph and Daniel Saunders, each a Qualified Person for the purposes of NI 43-101. Caution Regarding Forward Looking Information: This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, development of a mine at Nyanzaga, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws. ASX/TSX CODE: PRUCAPITAL STRUCTURE:Ordinary shares: 1,350,988,737Performance rights: 9,328,134REGISTERED OFFICE:Level 2437 Roberts RoadSubiaco WA 6008Telephone: +61 8 6144 DIRECTORS:Rick MenellNon-Executive ChairmanJeff QuartermaineManaging Director & CEO Amber BanfieldNon-Executive DirectorElissa CorneliusNon-Executive DirectorDan LougherNon-Executive DirectorJohn McGloinNon-Executive DirectorJames RutherfordNon-Executive Director CONTACTS:Jeff QuartermaineManaging Director & FormanInvestor Relations+61 484 036 RyanMedia+61 420 582 These estimates including the tables set out below have been prepared by Orca in accordance with Canadian National Instrument 43-101 standards and have not been reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the resource in accordance with the JORC Code and it is uncertain that following evaluation and/or further exploration work that the estimate will be able to be reported as a mineral resource or ore reserve in accordance with the JORC Code. Orca Ore Reserve and Mineral Resource figures are stated on 100% basis. Attachment 20250821 TSX Annual Resources and Reserves Statement_finalError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
an hour ago
- Business Wire
Modivcare Enters into Comprehensive Restructuring Agreement to Strengthen its Future, Reduce Debt and Inject Capital
DENVER--(BUSINESS WIRE)--Modivcare Inc. (the 'Company' or 'Modivcare') (Nasdaq: MODV), a technology-enabled healthcare services company providing a platform of integrated supportive care solutions focused on improving health outcomes, today announced that it has taken necessary and decisive action intended to strengthen its financial foundation while continuing to provide access to care, reduce costs, and improve outcomes for clients and members nationwide. Modivcare has filed for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas to implement a comprehensive restructuring transaction with the support of a supermajority of its key stakeholders. Through this process, Modivcare intends to build a stronger, sustainable organization, positioned for growth and well-equipped to meet the critical needs of members across its non-emergency medical transportation, personal care services and remote patient monitoring service lines. 'Modivcare sits at the center of the preventive healthcare ecosystem,' said Heath Sampson, Chief Executive Officer and President of Modivcare. 'This recapitalization strengthens our balance sheet and allows Modivcare to accelerate our investment in innovation by combining technology and data with high-touch member engagement. As the connector to care, our seamlessly connected platform improves access, quality and cost for payors, providers and facilities, while positioning us to lead the future of coordinated care.' More than 90% of First Lien Lenders and more than 70% of Second Lien Lenders have entered into a Restructuring Support Agreement ('RSA') with the Company. Those lenders have committed to support the Company throughout this process and have agreed to provide $100 million in 'debtor-in-possession' ('DIP') financing to finance the restructuring process and to support ongoing operations during this expedited bankruptcy process. Upon the closing of the DIP loan, Modivcare will have liquidity in excess of $100 million. The restructuring will reduce the Company's total outstanding funded debt obligations by approximately $1.1 billion (which is more than 85% of its outstanding funded debt obligations) and will meaningfully reduce the Company's annual cash interest and transition ownership to a group of seasoned and well-funded investors who are committed to Modivcare's success. All of Modivcare's service lines will continue to operate in the ordinary course, and we expect no interruption or change in access to care and a continued focus on operational excellence. Modivcare intends to close this transaction quickly by exiting the restructuring process early in the fourth quarter of 2025. Modivcare remains committed to providing excellent service to clients and their members. The Company has filed customary motions that, once approved, will allow Modivcare to meet obligations to clients and critical vendors, including transportation providers, and pay employee wages and benefits as usual. For more information about the Company's Chapter 11 case, including claims information, please visit or contact Verita, the Company's noticing and claims agent, at +1 (888) 733-1521 for U.S. and Canada or +1 (310) 751-2636 for international. Modivcare is advised by Latham & Watkins LLP, Hunton Andrews Kurth LLP, Moelis & Company LLC, and FTI Consulting. The First Lien Agent, the First Lien Lenders and the Second Lien Noteholders executing the RSA are advised by Paul Hastings LLP and Lazard. Cautionary Note Regarding Forward-Looking Statements Statements contained in this release constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are predictive in nature and are identified generally by the use of the terms 'intended', 'expected', 'estimates', 'will', and 'anticipates', and similar words or expressions indicating possible future expectations, events or actions. Forward-looking statements include statements regarding the Company's expectation about its ability to continue operating its business, fulfill its mission, make payments and meet obligations, and the Company's ability to implement the restructuring pursuant to the Chapter 11 cases, including the timetable of completing such transaction, if at all. Forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company's business and its industry, and are not guarantees of future performance. These statements are subject to a number of known and unknown risks, uncertainties and other factors, many of which are beyond the Company's ability to control or predict, which may cause actual events to be materially different from those expressed or implied herein. The Company has provided additional information about the risks facing its business and the Company in its most recent annual report on Form 10-K, and in its subsequent periodic and current reports on Forms 10-Q and 8-K, filed by it with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made and are expressly qualified in their entirety by the cautionary statements set forth herein and in the periodic and current reports filed with the Securities and Exchange Commission identified above, which you should read in their entirety before making an investment decision with respect to the Company's securities. The Company undertakes no obligation to update or revise any forward-looking statements contained in this report, whether as a result of new information, future events or otherwise, except as required by applicable law. About Modivcare Modivcare Inc. ("Modivcare" or the "Company") is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions for public and private payors and their members. The Company's value-based solutions address the social determinants of health (SDoH) by connecting members to essential care services. By doing so, Modivcare helps health plans manage risks, reduce costs, and improve health outcomes. Modivcare is a provider of non-emergency medical transportation (NEMT), personal care services (PCS), and remote patient monitoring solutions (RPM). To learn more about Modivcare, please visit
