FireFly Builds North American Investor Reach with Appointment of Canadian-Based Executive
Highly experienced resources executive Jessie Liu-Ernsting will transition from Non-Executive Director to Chief Corporate Development Officer
Perth, Western Australia--(Newsfile Corp. - April 21, 2025) - FireFly Metals Limited (ASX: FFM) (TSX: FFM) ("FireFly" or the "Company") is pleased to advise that it has appointed experienced investor relations executive and professional engineer Jessie Liu-Ernsting as Chief Corporate Development Officer, based in Toronto.
Ms Liu-Ernsting will be primarily responsible for strategic and corporate development and investor relations and will commence in her new role mid to late May 2025.
Her appointment builds on FireFly's recent dual listing on the Toronto Stock Exchange, enabling the Company to grow the standing of its Green Bay Copper-gold Project in Canada among North American investors.
FireFly Managing Director Steve Parsons said Ms Liu-Ernsting's appointment reflects the Company's commitment to growing awareness and understanding of the huge opportunity at Green Bay among North American investors.
"We continue to create substantial shareholder value with our strategy to grow and upgrade the resource while doing the mining studies associated with a production re-start.
"Given the clear appetite among North American investors for copper and gold projects in their region, we believe there is a big opportunity to grow FireFly's profile in this community.
"Jessie's experience in North American capital markets will help ensure we establish a strong connection between FireFly and North American investors."
Ms Jessie Liu-Ernsting
Ms Liu-Ernsting was previously Vice President, Investor Relations & Communications of TSX Venture 50™ and OTCQX Best 50 company, G Mining Ventures Corp. (TSX:GMIN) where she was part of the leadership team responsible for a share price increase of 600%, taking the market capitalisation to C$4.7B.
Ms Liu-Ernsting was responsible for establishing and delivering GMIN's inaugural investor relations program to increase investor awareness and engagement. She was involved in GMIN securing the US$481M Tocantinzinho project construction financing package consisting of gold stream, equity, debt and equipment financing in the tough market environment of 2022, and GMIN's shareholder-approved C$875M merger with Reunion Gold in 2024.
Prior to joining GMIN, Ms Liu-Ernsting led a junior mining company as its inaugural VP of Corporate Development and Investor Relations to achieve 14x share price accretion and raised $33M over that company's first 12 months during the COVID-19 crisis. Before that, she guided a public mining company to achieve settlement on a disputed proxy. Previously, as investment manager at Resource Capital Funds, Ms. Liu-Ernsting sourced, evaluated, structured and managed a portfolio of natural resources investments. Ms. Liu-Ernsting started her career with two of the preeminent Canadian engineering firms conducting backfill, mine, mill and mining innovation capital projects. She is currently a director of the Prospectors & Developers Association of Canada (PDAC).
Ms Liu-Ernsting has resigned from the FireFly board to take up this opportunity. FireFly is currently conducting a search for a new independent non-executive director.
This announcement has been authorised by the Board of Directors.
Steve Parsons
Media
Managing Director
Paul Armstrong
FireFly Metals Ltd
Read Corporate
Phone: +61 8 9220 9030
+61 8 9388 1474
ABOUT FIREFLY METALS
FireFly Metals Ltd (ASX, TSX: FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold Project in Newfoundland, Canada. The Green Bay Copper-Gold Project currently hosts a Mineral Resource prepared in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012) and Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) of 24.4Mt of Measured and Indicated Resources at 1.9% for 460Kt CuEq and 34.5Mt of Inferred Resources at 2% for 690Kt CuEq. The Company has a clear strategy to rapidly grow the copper-gold resource to demonstrate a globally significant copper-gold asset. FireFly has commenced a 130,000m diamond drilling program.
FireFly holds a 70% interest in the high-grade Pickle Crow Gold Project in Ontario. The current Inferred Resource stands at 11.9Mt at 7.2g/t for 2.8Moz gold, with exceptional discovery potential on the 500km2 tenement holding.
The Company also holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia.
For further information regarding FireFly Metals Ltd please visit the ASX platform (ASX:FFM), the Company's website www.fireflymetals.com.au or SEDAR+ at www.sedarplus.ca.
COMPLIANCE STATEMENTSMineral Resources Estimate - Green Bay ProjectThe Mineral Resource Estimate for the Green Bay Project referred to in this announcement and set out at Appendix A was first reported in the Company's ASX announcement dated 29 October 2024, titled "Resource increases 42% to 1.2Mt of contained metal at 2% Copper Eq" and is also set out in the Technical Reports for the Ming Copper Gold Mine and Little Deer Copper Project available on SEDAR+ at www.sedarplus.ca.
Mineral Resources Estimate - Pickle Crow ProjectThe Mineral Resource Estimate for the Pickle Crow Project referred to in this announcement was first reported in the Company's ASX release dated 4 May 2023, titled "High-Grade Inferred Gold Resource Grows to 2.8Moz at 7.2g/t".
Metal equivalents for Mineral Resource EstimatesMetal equivalents for Mineral Resource Estimate mineralisation have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Individual Mineral Resource grades for the metals are set out at Appendix A of this announcement. Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822).
Metallurgical factors have been applied to the metal equivalent calculation. Copper recovery used was 95%. Historical production at the Ming Mine has a documented copper recovery of ~96%. Precious metal metallurgical recovery was assumed at 85% on the basis of historical recoveries achieved at the Ming Mine in addition to historical metallurgical test work to increase precious metal recoveries.
In the opinion of the Company, all elements included in the metal equivalent calculations have a reasonable potential to be sold and recovered based on current market conditions, metallurgical test work, the Company's operational experience and, where relevant, historical performance achieved at the Green Bay project whilst in operation.
Original AnnouncementsFireFly confirms that it is not aware of any new information or data that materially affects the information included in the original announcements and that, in the case of Mineral Resources, all material assumptions and technical parameters underpinning the Mineral Resource Estimates in the original announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' and Qualified Persons' findings are presented have not been materially modified from the original market announcements.
FORWARD LOOKING INFORMATION
This announcement may contain certain forward-looking statements and projections, including statements regarding FireFly's plans, forecasts and projections with respect to its mineral properties and programs. Although the forward-looking statements contained in this announcement reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward looking statements and projections are estimates only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company. The forward-looking statements and projections are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that FireFly will be able to confirm the presence of Mineral Resources or Ore Reserves, that FireFly's plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of FireFly's mineral properties. The performance of FireFly may be influenced by a number of factors which are outside the control of the Company, its directors, officers, employees and contractors. The Company does not make any representations and provides no warranties concerning the accuracy of any forward-looking statements or projections, and disclaims any obligation to update or revise any forward-looking statements or projections based on new information, future events or otherwise, except to the extent required by applicable laws.
APPENDIX A
Green Bay Copper-Gold Project Mineral Resources
Ming Deposit Mineral Resource EstimateTONNES
COPPER
GOLD
SILVER
CuEq(Mt)
Grade(%)
Metal('000 t)
Grade(g/t)
Metal('000 oz)
Grade(g/t)
Metal('000 oz)
Grade(%)
Measured
4.7
1.7
80
0.3
40
2.3
340
1.9
Indicated
16.8
1.6
270
0.3
150
2.4
1,300
1.8
TOTAL M&I
21.5
1.6
340
0.3
190
2.4
1,600
1.8
Inferred
28.4
1.7
480
0.4
340
3.3
3,000
2.0
Little Deer Mineral Resource EstimateTONNES
COPPER
GOLD
SILVER
CuEq(Mt)
Grade(%)
Metal('000 t)
Grade(g/t)
Metal('000 oz)
Grade(g/t)
Metal('000 oz)
Grade(%)
Measured
-
-
-
-
-
-
-
-
Indicated
2.9
2.1
62
0.1
9
3.4
320
2.3
TOTAL M&I
2.9
2.1
62
0.1
9
3.4
320
2.3
Inferred
6.2
1.8
110
0.1
10
2.2
430
1.8
Green Bay Total Mineral Resource EstimateTONNES
COPPER
GOLD
SILVER
CuEq(Mt)
Grade(%)
Metal('000 t)
Grade(g/t)
Metal('000 oz)
Grade(g/t)
Metal('000 oz)
Grade(%)
Measured
4.7
1.7
80
0.3
45
2.3
340
1.9
Indicated
19.7
1.7
330
0.2
154
2.6
1,600
1.9
TOTAL M&I
24.4
1.7
400
0.3
199
2.5
2,000
1.9
Inferred
34.6
1.7
600
0.3
348
3.1
3,400
2.0
FireFly Metals Ltd Mineral Resources for the Green Bay Copper-Gold Project, incorporating the Ming Deposit and Little Deer Complex, are reported in accordance with the JORC Code 2012 and NI 43-101.
Mineral Resources have been reported at a 1.0% copper cut-off grade.
Metal equivalents for the Mineral Resource Estimate has been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Metallurgical recoveries have been set at 95% for copper and 85% for both gold and silver. CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822).
Totals may vary due to rounding.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249292
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
Legal tech platform Definely raises $30M Series B to make contract reviewing more efficient
Nnamdi Emelifeonwu was always curious about what work life was like for his colleague Feargus MacDaeid, one of the few registered blind lawyers in the U.K. Both practiced law at the global firm Freshfields. When asking about what would make his life easier, the answer was clear: 'Help me navigate definitions in complex contracts without losing context,' Emelifeonwu told TechCrunch. He realized the fix to MacDaeid's request would be useful to every lawyer. So in 2017, Emelifeonwu and MacDaeid teamed up to launch Definely, an AI legal tech startup allowing lawyers to more seamlessly review and edit complex contracts. The company, based in the U.K., announced earlier this week a $30 million Series B from a mix of European and North American investors, including Revaia, Alumni Ventures, and Beacon Capital. It had previously raised a $7 million Series A last May. Definely offers a productivity suite to streamline the legal drafting and review process. It has a Draft feature that lets lawyers read contracts and navigate definitions and clauses without losing their place in the document; it has a Vault, that lets users insert clauses with a single click; it has a Proof feature, which uses AI to check for inconsistencies and broken cross-references, and it has a PDF feature that lets users extract and analyze points from scanned legal documents. 'Looking ahead, we're building on these capabilities with an agentic AI system we recently launched called Enhance,' Emelifeonwu said, adding that it has AI agents that work with Microsoft Word. 'These agents collaborate to complete tasks across drafting, reviewing, and proofreading, streamlining work for legal professionals where they already operate.' Emelifeonwu described the fundraising process this time around as 'arduous.' 'A close second [word] might be rewarding,' he said. The company met this round's lead investor, Revaia, through an introduction. The rest of the investors came to the company directly. 'We didn't reach out to one investor during Series B.' The fresh capital will be used to further the company's expansion into the U.S., which now accounts for 30% of the company's revenue, it says. It also hopes to further invest in the AI space and hire more employees. Others working in the legal contract space in this way include the companies Luminance, Robin AI, and ContractPodAi. Emelifeonwu, a Nigerian immigrant in the U.K., said he dreamed of being a lawyer since he was a kid but once he became one, he was hit with the entrepreneurial spirit. 'I've always had ideas, and I explored a few, but when the right idea came along, one that tapped directly into the challenges I experienced firsthand as a lawyer, I knew I had to pursue it,' he continued. He also understands the importance of such a big round when Black founders don't, statistically, account for much of the annual venture fundraising activity. 'Having raised fresh capital and building toward a truly global business, it's both a personal milestone and, I hope, a signal to others that it's possible,' he said. 'I want this to inspire the next wave of builders who may not come from traditional paths but have just as much potential to create lasting impact.' Sign in to access your portfolio
Yahoo
27 minutes ago
- Yahoo
Is Invesco International Small-Mid Company A (OSMAX) a Strong Mutual Fund Pick Right Now?
If investors are looking at the Non US - Equity fund category, make sure to pass over Invesco International Small-Mid Company A (OSMAX). OSMAX bears a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance. OSMAX is classified in the Non US - Equity area by Zacks, and this segment is full of potential. Non US - Equity funds focus their investments on companies outside of the United States, which is an important distinction since global mutual funds tend to keep a sizable portion of their portfolio based in the United States. Most of these funds will allocate across emerging and developed markets, and can often extend across cap levels too. Invesco is responsible for OSMAX, and the company is based out of Kansas City, MO. Invesco International Small-Mid Company A debuted in November of 1997. Since then, OSMAX has accumulated assets of about $617.61 million, according to the most recently available information. The fund's current manager, David Nadel, has been in charge of the fund since November of 2019. Of course, investors look for strong performance in funds. OSMAX has a 5-year annualized total return of 3.61% and is in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 3.26%, which places it in the bottom third during this time-frame. It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower. When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 14.81%, the standard deviation of OSMAX over the past three years is 21.68%. Looking at the past 5 years, the fund's standard deviation is 20.26% compared to the category average of 14.58%. This makes the fund more volatile than its peers over the past half-decade. Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. OSMAX has a 5-year beta of 1.05, which means it is likely to be more volatile than the market average. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. OSMAX has generated a negative alpha over the past five years of -10.71, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns. For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, OSMAX is a load fund. It has an expense ratio of 1.38% compared to the category average of 1%. Looking at the fund from a cost perspective, OSMAX is actually more expensive than its peers. While the minimum initial investment for the product is $1,000, investors should also note that each subsequent investment needs to be at least $50. Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included. Overall, Invesco International Small-Mid Company A ( OSMAX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and higher fees, Invesco International Small-Mid Company A ( OSMAX ) looks like a somewhat weak choice for investors right now. This could just be the start of your research on OSMAXin the Non US - Equity category. Consider going to for additional information about this fund, and all the others that we rank as well for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out for more information on our screening capabilities, Rank, and all our articles as well. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (OSMAX): Fund Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
News24
27 minutes ago
- News24
Pork and chicken are key to easing US trade tensions: Steenhuisen
South Africa, struggling to reset relations with the US, is willing to give way on so-called phytosanitary requirements for poultry-meat imports, but fears an impasse with its second-biggest trading partner over pork shipments. Washington's trade complaints against Pretoria — which have triggered a threat of a 30% tariff on imports from Africa's largest economy — span a range of industries from vehicles to citrus. The meat trade has also been a sticking point, with US producers viewing Pretoria's animal-health requirements as a constraint on doing business, according to Agriculture Minister John Steenhuisen. The health rules and excise duty charged on pork and chicken from the US 'are the two key focus areas' in easing trade tensions, he said in an interview at a meat conference in Somerset West near Cape Town on Thursday. Differences between the two nations extend beyond trade — President Donald Trump has spread the false conspiracy theory that white farmers have been subjected to a genocide in South Africa and the authorities have been seizing their land. There have been no official land seizures in South Africa since apartheid ended in 1994. The US has also criticized South Africa for taking Israel to an international court over its war with Hamas in Gaza and its relations with American foes, including Iran. To assuage concerns over its restrictions on poultry imports from countries that have avian influenza outbreaks, South Africa plans to allow the US to determine when it should halt and resume exports. 'What we've done is build a new system of self-ban, self-lift,' Steenhuisen said. 'We hope that this will be seen as a removal of what they've regarded as a trade barrier.' The minister considered it unlikely the two countries will resolve their difference over South Africa's requirements that glands be removed from pork meat prior to it being sold in the country — a measure intended to avoid the spread of the highly contagious porcine reproductive and respiratory syndrome disease. 'They regard that as a trade barrier because they say that that process renders their meat uncompetitive,' Steenhuisen said. 'It's going to be one of those impasses because we cannot compromise our local pork sector.' South Africa is one of a handful of nations that are free of the disease, and if it were detected it would increase pork production costs as pigs would have to be vaccinated against it, said Peter Evans, the chief executive officer of the South African Pork Producers' Organisation. 'It's a disease we want to keep out of the country,' he said in an interview. The US is 'irked by it. They perceive it as a hindrance to large-scale exports.' The US also complains that tariffs of about 62% on poultry imports, along with the health requirements, have stopped it from filling its annual quotas of about 70,000 tons of chicken meat that it is permitted to ship into South Africa, according to the agriculture minister. That levy, along with those imposed on cars and farm equipment, are higher than those charged on products from the European Union, with which South Africa has a trade agreement. The US has, until recently, given a range of South African goods duty-free to its markets under the African Growth and Opportunity Act (AGOA). 'Their argument is that we are giving you AGOA and all of these things, but you are giving our competitors a better deal,' Steenhuisen said.
