Latest news with #FS
Cision Canada
4 days ago
- Business
- Cision Canada
FREEMAN GOLD PROVIDES CORPORATE UPDATE
VANCOUVER, BC , May 27, 2025 /CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) (FSE: 3WU) (" Freeman" or the " Company") is pleased to provide a corporate update on fiscal 2025 activities for the Lemhi Gold Project (" Lemhi", or the " Project"). On October 16, 2023, Freeman released a robust Preliminary Economic Assessment (" PEA") of the Project as completed by Ausenco Engineering Canada ULC (" Ausenco"). On February 10, 2025, the Company awarded a lump sum Feasibility Study (" FS") of Lemhi to Ausenco. The FS is expected to be completed and announced in late Q1 2026. To support the FS, the Company embarked on several activities, including: a phase IV metallurgical program building on the previous three phases completed; expansion and infill drilling to increase and convert inferred ounces to measured and indicated for inclusion in the FS; a geotechnical work program; and an update of pricing assumptions to reflect current market conditions. The revised pricing assumptions were integrated into an updated price sensitivity analysis completed by Ausenco and Moose Mountain Technical Services. The Lemhi PEA outlined a high-grade, low-cost, open pit operation with an average annual production of 80,100 ounces of gold in the first eight years. The production strategy envisions phased development utilizing a carbon-in-leach (" CIL") processing facility. As mentioned above, Freeman updated the pricing assumptions of the PEA to increase the base case from US$1,750/oz Au to US$2,200/oz Au which resulted in a post-tax NPV 5% US$329 million, a post-tax IRR of 28.2% and payback of 2.9 years. Lemhi also has further strong leverage to higher prices and at US$3,400/oz Au, the Project has a post-tax NPV 5% of US$876 million, a post-tax IRR of 57.4% and payback of 1.6 years. As the Company moves forward towards a construction decision, Freeman has advanced permitting initiatives including collecting three years of baseline water quality data required for a state mining permit. To support Lemhi's advanced development, Freeman appointed David Keough to its Board. Mr. Keough has over 35 years of experience in the mining industry and as Executive Director and Chief Operating Officer of Goldrock Inc., he successfully permitted the Lindero gold project, subsequently acquired by Fortuna Silver Mines Inc., for construction. In the coming weeks and months, the Company looks forward to providing updates on the geotechnical, metallurgical, and resource expansion and upgrade drill programs that will be part of the FS. The Company anticipates increasing both the size of and confidence in resources at Lemhi through the current drill program. Furthermore, metallurgical test work will build on three earlier phases of work that indicated > 95% of contained gold is recoverable using a traditional CIL process and that the significant coarse gold found at Lemhi is amenable to gravity separation. These new work streams will be key components in what Freeman expects to be a robust and economically compelling FS. The Lemhi project will also benefit from President Trump's Executive Order to fast-track and revitalize American mineral production. Lemhi is uniquely positioned to provide broad economic benefits to the State of Idaho and create hundreds of local jobs. About the Company and Project Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property. The Project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource. The pit constrained National Instrument 43-101 (" NI 43- 101") compliant mineral resource estimate is comprised of 988,100 ounces gold (" oz Au") at 1.0 gram per tonne (" g/t") in 30.02 million tonnes (4.7 million tonnes Measured (168,800 oz) & 25.5 million tonnes Indicated (819,300 oz)) and 256,000 oz Au at 1.04 g/t Au in 7.63 million tonnes (Inferred). The Company is focused on growing and advancing the Project towards a production decision. To date, 525 drill holes and 92,696 m of drilling has historically been completed (Murray K., Elfen, S.C., Mehrfert, P., Millard, J., Cooper, Schulte, M., Dufresne, M., NI 43-101 Technical Report and Preliminary Economic Assessment, dated November 20, 2023; The recently updated price sensitivity analysis (see Freeman's news release dated April 9, 2025) shows a PEA with an after-tax net present value (5%) of US$329 million and an internal rate of return of 28.2% using a base case gold price of US$2,200/oz; Average annual gold production of 75,900 oz Au for a total life-of-mine of 11.2 years payable output of 851,900 oz Au; life-of-mine cash costs of US$925/oz Au; and, all-in sustaining costs of US$1,105/oz Au using an initial capital expenditure of US$215 million*. *Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability. The preliminary economic assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. The technical content of this release has been reviewed and approved by Dean Besserer, P. Geo., the VP Exploration for the Company and a Qualified Person as defined by NI 43-101. On Behalf of the Company Bassam Moubarak Chief Executive Officer 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. Cautionary Statements Regarding Forward Looking Information This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Freeman, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Feasibility Study, including the timing of expected completion, exploration at Lemhi and related programs, including the results thereof, and resource expansion and the conversion of inferred resources to the measured and indicated category. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Freeman, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Freeman does not assume any obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws. SOURCE Freeman Gold Corp.
RTHK
18-05-2025
- Business
- RTHK
FS lauds strong local stocks, IPO market
FS lauds strong local stocks, IPO market Paul Chan says funds raised across IPOs in Hong Kong have surpassed HK$60 billion this year. Photo courtesy of the Financial Secretary's social media The finance chief on Sunday hailed the Hong Kong stock market's performance this year, pledging to closely monitor market developments amid external uncertainties. Writing on his blog, Financial Secretary Paul Chan noted that the stock market has rallied so far despite briefly suffering losses brought on by the tariff war last month. He said the city's IPO market is very active and that the bourse operator is set to welcome the listing of a leading mainland firm on Tuesday, set to be the world's largest stock offering this year so far. "This brought the funds raised across IPOs this year to over HK$60 billion, which is about six times more than the amount in the same period last year. Our scale of financing is now ranked first in the world," he wrote. He also pointed to the Hong Kong Monetary Authority's recent interventions to rein back the local currency, saying an influx of capital flows has led to ample liquidity. But he warned that capital flows and interest rate trends remained uncertain due to a host of internal and external factors. The authorities would continue to monitor market developments and maintain financial stability, Chan added. "In this complex and ever-changing external environment, as long as we are committed to our goals, remain open and inclusive, leverage our unique advantages, and continue to focus on what we have to do, we can surely achieve high-quality development amid changes," he said.
Yahoo
14-05-2025
- Business
- Yahoo
Crowe names Gary Kozlowski as partner
Public accounting and consulting firm Crowe has named Gary Kozlowski as a financial services consulting partner to enhance its New York financial services consulting group. Kozlowski, a Certified Public Accountant (CPA), brings more than three decades of global advisory experience to the firm. He has experience in guiding large financial institutions through risk management, regulatory strategies, and business process improvements. In the new role, Kozlowski will spearhead strategic initiatives for complex, cross-functional organisations. His focus will be on expanding Crowe's relationships with global financial institutions based in New York. Crowe New York market leader and financial services consulting leader Dawnella Johnson said: 'Gary has a proven track record of delivering market solutions and services to the financial sector. His experience aligns seamlessly with our financial services (FS) strategy and vision. 'His success and deep knowledge of the complex challenges faced by global financial institutions will blend perfectly with our culture of cultivating trust and working in collaboration with our clients.' Prior to joining Crowe, Kozlowski worked for more than 20 years as a senior partner at a Big 4 firm, where he provided counsel on strategy, governance, risk management, and regulatory compliance, particularly within the banking, payments, capital markets, asset management, and private equity sectors. He also has global leadership experience, managing teams across North America, Latin America, Europe, and Asia. Kozlowski said: 'I'm excited to contribute to a collaborative firm that emphasises long-term trust and confidence with clients, while also leveraging Crowe's excellent reputation already established in the financial services sector. 'I look forward to building relationships with our FS clients and deepening our presence in the sector.' Crowe, which operates as an independent member of accounting network Crowe Global, offers audit, tax, and consulting services to a diverse range of public and private entities. The network comprises MORE THAN 200 independent accounting and advisory services firms in more than 130 countries. The latest development comes after Crowe announced a firmwide deployment of OpenAI's ChatGPT Enterprise platform and APIs. "Crowe names Gary Kozlowski as partner" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
The Print
11-05-2025
- Politics
- The Print
Attacks on Vikram Misri are unpatriotic. It proves right ThePrint reportage on MAGA-like Hindutva fringe
Attacks on Vikram Misri are downright vile. It proves right ThePrint reportage on the rise of a MAGA-like ultra-Right phenomenon in the Hindutva fringe. Trolling the FS and family for India's smart, mature ceasefire, and forcing him to protect his X account isn't national interest. It's a viciously unpatriotic act. Operation Sindoor wasn't a war to finish Pakistan. Ceasefire is welcome denouement The ceasefire is a welcome denouement, with Operation Sindoor aims realised. It was to punish Pahalgam plotters and convince their patrons of inevitable military risk hereafter. It wasn't a war to finish Pakistan. All targets were clinically struck, evidence produced, later Pakistani airbases hit punitively. A good 72-hour military-diplomatic outing.
RTHK
11-05-2025
- Business
- RTHK
HK needs new markets despite a good Q1: FS
HK needs new markets despite a good Q1: FS Paul Chan believes this year's economic growth forecast won't see a big change. File photo: RTHK Financial Secretary Paul Chan on Sunday said Hong Kong still needs to explore new markets despite posting strong first-quarter economic figures. In the first three months of the year, GDP rose by a better-than-expected 3.1 percent and exports climbed 8.7 percent year on year. Speaking on a Commercial Radio programme, Chan said the surge in exports might have been due to traders trying to beat US tariffs. He believes the increase would slow and Hong Kong needs to explore new markets amid the trade war. 'We have been responding to the tariff war in several ways. Of course, we have to maintain our position in the European and US markets as they are still important, but we also have to develop new markets, especially in places like Southeast Asia and the Middle East,' Chan said. 'However, this will take time as the US still accounts for a larger share in terms of export volume.' The government has projected full-year GDP growth of 2 percent to 3 percent, and Chan said he doesn't expect major changes to the forecast as the economic outlook remains uncertain. The finance chief said at the annual meeting of Asian Development Bank's board of governors in Milan last week, many developing countries expressed concerns that US tariffs and unilateralism would hinter global economic development. He also said he expects the Hong Kong financial market to boom this year as a lot of mainland enterprises are planning to list here.
