Latest news with #FeasibilityStudy
Globe and Mail
33 minutes ago
- Business
- Globe and Mail
Vista Gold Announces Second Quarter 2025 Financial Results
Vista Gold Corp. (NYSE American and TSX: VGZ) today announced its unaudited financial results for the quarter ended June 30, 2025, with cash totaling $13.2 million at quarter-end. All dollar amounts in this press release are in U.S. dollars. Frederick H. Earnest, President and CEO of Vista, said, 'During the second quarter, we maintained a strong balance sheet and advanced the 15,000 tonnes per day Mt Todd Feasibility Study. We announced the results of the Feasibility Study on July 29, 2025. We are very pleased with the strong economic results, reduced initial capital, increased gold mineral reserves grade, and stable gold production over many years. The Feasibility Study represents a major milestone for Vista, highlighting a strategic shift toward a smaller initial scale, near-term development opportunity at Mt Todd while preserving optionality for expansion. As we continue to build on Mt Todd's strengths as a leading development opportunity within the gold sector, our immediate focus is on increasing awareness of the value of Mt Todd and pursuing the best path to deliver value for our shareholders.' For more information on the 2025 Mt Todd Feasibility Study, please see news release. Summary of Financial Results Vista reported a consolidated net loss of $2.4 million, or $0.02 per common share, for the quarter ended June 30, 2025, compared to net income of $15.6 million, or $0.13 per common share, for the quarter ended June 30, 2024. Net income for the quarter ended June 30, 2024 included a recognized gain of $16.9 million upon receipt of the final instalment under the royalty agreement. Cash and cash equivalents totaled $13.2 million at June 30, 2025, compared to $16.9 million at December 31, 2024. The Company continued to have no debt. Management Conference Call Management's conference call to review financial results for the quarter ended June 30, 2025 and to discuss corporate and project activities is scheduled for August 13, 2025 at 10:00 a.m. MDT (12:00 p.m. EDT). Participant Toll Free: +1 (800) 717-1738 Participant International: +1 (289) 514-5100 Conference ID: 75778 This call will be archived and available at after August 13, 2025. An audio replay will also be available through August 27, 2025 by calling toll-free in North America +1 (888) 660-6264 or +1 (289) 819-1325 using passcode 75778#. If you are unable to access the audio or phone-in on the day of the conference call, please email your questions to ir@ About Vista Gold Corp. Vista holds the Mt Todd gold project, a development-stage gold deposit located in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is a leading development opportunity within the gold sector. The Project offers significant scale, development optionality, growth opportunities, advanced local infrastructure, community support, and demonstrated economic feasibility. The project offers strategic optionality through development as a large or mid-scale project. For further information about Vista or Mt Todd, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company's website at Forward Looking Statements This news release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect or anticipate will or may occur in the future are forward-looking statements and forward-looking information. These forward-looking statements and forward-looking information include, but are not limited to statements regarding such things as the Company's belief that Mt Todd is a leading development opportunity within the gold sector and that Northern Territory, Australia is a Tier-1 mining jurisdiction; the Company's belief that the feasibility study delivered strong economic results, reduced initial capital, increased gold mineral reserves grade, and stable gold production over many years; the Company's belief that Mt Todd is a near-term development opportunity; the Company's belief that it has preserved the optionality for expansion at Mt Todd; the Company's immediate focus is on increasing awareness of the value of Mt Todd and pursuing the best path to deliver value for its shareholders; the Company's belief that the Mt Todd project offers significant scale, development optionality, growth opportunities, advanced local infrastructure, community support, and demonstrated economic feasibility; the Company's belief that the project offers strategic optionality through development as a large or mid-scale project and statements related to the Company's strategy. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this news release include the following: the Company's forecasts and expected cash flows; the Company's projected capital and operating costs; the Company's expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mine development or mining activities will remain consistent; the Company's approved business plans, mineral resources and mineral reserves estimates and results of preliminary economic assessments; preliminary feasibility studies and feasibility studies on the Company's projects, if any; the Company's experience with regulators; political and social support of the mining industry in Australia; the Company's experience and knowledge of the Australian mining industry and the Company's expectations of economic conditions and the price of gold. When used in this news release or elsewhere, the words 'optimistic,' 'potential,' 'indicate,' 'expect,' 'intend,' 'hopes,' 'believe,' 'may,' 'will,' 'if,' 'anticipate' and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve 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 future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company's future capital costs, operating costs, non-operating costs, and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on the Company's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings 'Note Regarding Forward-Looking Statements' and 'Risk Factors' in the Company's latest Annual Report on Form 10-K as filed in February 2025, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements or forward-looking information whether as a result of new information, future events or otherwise.
National Post
37 minutes ago
- Business
- National Post
Vista Gold Announces Second Quarter 2025 Financial Results
Article content DENVER — Vista Gold Corp. (NYSE American and TSX: VGZ) today announced its unaudited financial results for the quarter ended June 30, 2025, with cash totaling $13.2 million at quarter-end. All dollar amounts in this press release are in U.S. dollars. Article content Frederick H. Earnest, President and CEO of Vista, said, 'During the second quarter, we maintained a strong balance sheet and advanced the 15,000 tonnes per day Mt Todd Feasibility Study. We announced the results of the Feasibility Study on July 29, 2025. We are very pleased with the strong economic results, reduced initial capital, increased gold mineral reserves grade, and stable gold production over many years. Article content Article content The Feasibility Study represents a major milestone for Vista, highlighting a strategic shift toward a smaller initial scale, near-term development opportunity at Mt Todd while preserving optionality for expansion. As we continue to build on Mt Todd's strengths as a leading development opportunity within the gold sector, our immediate focus is on increasing awareness of the value of Mt Todd and pursuing the best path to deliver value for our shareholders.' Article content For more information on the 2025 Mt Todd Feasibility Study, please see news release. Article content Summary of Financial Results Article content Vista reported a consolidated net loss of $2.4 million, or $0.02 per common share, for the quarter ended June 30, 2025, compared to net income of $15.6 million, or $0.13 per common share, for the quarter ended June 30, 2024. Net income for the quarter ended June 30, 2024 included a recognized gain of $16.9 million upon receipt of the final instalment under the royalty agreement. Article content Cash and cash equivalents totaled $13.2 million at June 30, 2025, compared to $16.9 million at December 31, 2024. The Company continued to have no debt. Article content Management Conference Call Article content Management's conference call to review financial results for the quarter ended June 30, 2025 and to discuss corporate and project activities is scheduled for August 13, 2025 at 10:00 a.m. MDT (12:00 p.m. EDT). Article content Participant Toll Free: +1 (800) 717-1738 Participant International: +1 (289) 514-5100 Article content Conference ID: 75778 Article content This call will be archived and available at after August 13, 2025. An audio replay will also be available through August 27, 2025 by calling toll-free in North America +1 (888) 660-6264 or +1 (289) 819-1325 using passcode 75778#. Article content If you are unable to access the audio or phone-in on the day of the conference call, please email your questions to ir@ Article content About Vista Gold Corp. Article content Vista holds the Mt Todd gold project, a development-stage gold deposit located in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is a leading development opportunity within the gold sector. The Project offers significant scale, development optionality, growth opportunities, advanced local infrastructure, community support, and demonstrated economic feasibility. The project offers strategic optionality through development as a large or mid-scale project. Article content For further information about Vista or Mt Todd, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company's website at Article content Forward Looking Statements Article content This news release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect or anticipate will or may occur in the future are forward-looking statements and forward-looking information. These forward-looking statements and forward-looking information include, but are not limited to statements regarding such things as the Company's belief that Mt Todd is a leading development opportunity within the gold sector and that Northern Territory, Australia is a Tier-1 mining jurisdiction; the Company's belief that the feasibility study delivered strong economic results, reduced initial capital, increased gold mineral reserves grade, and stable gold production over many years; the Company's belief that Mt Todd is a near-term development opportunity; the Company's belief that it has preserved the optionality for expansion at Mt Todd; the Company's immediate focus is on increasing awareness of the value of Mt Todd and pursuing the best path to deliver value for its shareholders; the Company's belief that the Mt Todd project offers significant scale, development optionality, growth opportunities, advanced local infrastructure, community support, and demonstrated economic feasibility; the Company's belief that the project offers strategic optionality through development as a large or mid-scale project and statements related to the Company's strategy. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this news release include the following: the Company's forecasts and expected cash flows; the Company's projected capital and operating costs; the Company's expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mine development or mining activities will remain consistent; the Company's approved business plans, mineral resources and mineral reserves estimates and results of preliminary economic assessments; preliminary feasibility studies and feasibility studies on the Company's projects, if any; the Company's experience with regulators; political and social support of the mining industry in Australia; the Company's experience and knowledge of the Australian mining industry and the Company's expectations of economic conditions and the price of gold. When used in this news release or elsewhere, the words 'optimistic,' 'potential,' 'indicate,' 'expect,' 'intend,' 'hopes,' 'believe,' 'may,' 'will,' 'if,' 'anticipate' and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve 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 future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company's future capital costs, operating costs, non-operating costs, and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on the Company's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings 'Note Regarding Forward-Looking Statements' and 'Risk Factors' in the Company's latest Annual Report on Form 10-K as filed in February 2025, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements or forward-looking information whether as a result of new information, future events or otherwise. Article content Article content Article content
Business Wire
a day ago
- Business
- Business Wire
Lifezone Metals Secures $60 Million Bridge Loan from Taurus Mining Finance
NEW YORK--(BUSINESS WIRE)--Lifezone Metals Limited's (NYSE: LZM) Chief Executive Officer, Chris Showalter, today announced that Lifezone's wholly-owned subsidiary, Kabanga Nickel Limited, has entered into a $60 million bridge loan facility agreement with Taurus Mining Finance Fund No. 2, L.P. (Taurus), a leading global provider of structured finance to the mining sector. The facility will support the advancement of the Kabanga Nickel Project, located in north-west Tanzania, by funding the development of critical early works and infrastructure development as the Company moves toward securing long-term project financing. Mr. Showalter stated: 'This announcement further demonstrates the preparation and strategic steps Lifezone has taken in anticipation of consolidating 100% ownership of Kabanga Nickel Limited, which we completed last month. The support from Taurus, a respected and experienced mining finance partner, reflects the strength of our project and our team's ability to deliver. With the Feasibility Study now complete, Taurus's funding enables us to advance critical early-stage development while progressing the competitive process underway with Standard Chartered to select additional strategic investment partners. In parallel, we are advancing the project financing process with Societe Generale, as we work toward a comprehensive funding solution for the Kabanga Nickel Project.' Strategic importance of the facility The senior secured bridge loan is a key step in Lifezone's broader financing strategy to advance the Kabanga Nickel Project towards production. It provides essential funding to maintain project momentum during the execution readiness phase, bridging the period between Feasibility Study completion and Final Investment Decision, expected in mid-2026. The loan bears interest at a rate of 9.25% per annum on drawn amounts, payable quarterly. It is subject to an arrangement fee of 2.25% and a commitment fee of 2.5% per annum on undrawn amounts. The loan is secured by a security interest in the shares that Lifezone indirectly holds in Kabanga Nickel Limited and security interests in other assets relating to the Kabanga Nickel Project. The loan is also guaranteed by other subsidiaries of Lifezone. As part of the transaction, Lifezone Metals issued 2.5 million warrants to Taurus, exercisable at an exercise price of $5.42 per share. The warrants will expire five years from the date of issuance. Availability of borrowings under the facility is subject to the satisfaction of customary conditions precedent. The facility has a scheduled maturity date of July 31, 2027, with an option available to Kabanga Nickel Limited to extend the term by an additional six months. In connection with the bridge loan facility agreement, the Company and the debentureholders amended certain terms of the Company's current outstanding Senior Unsecured Convertible Debentures. Supporting a world-class nickel, copper and cobalt project The Kabanga Nickel Project is believed to be one of the world's largest and highest-grade development-ready nickel, copper and cobalt sulfide deposits. Highlights of the Feasibility Study Technical Report Summary, filed on July 18, 2025 (refer to the Company's EDGAR profile, investor relations website and July 18, 2025 news release), include: Project metrics shown on a 100% basis – the Kabanga Nickel Project is 84% owned by Lifezone and 16% by the Government of Tanzania. 18-year life of mine mining operation with total ore production of 52.2 million tonnes (100% basis; Lifezone attributable is: 43.9 million tonnes) grading 1.98% nickel, 0.27% copper and 0.15% cobalt. 3.4 million tonnes per annum concentrator, producing a high-grade nickel, copper, and cobalt concentrate grading 17.5% nickel, as an intermediate product for downstream processing, and containing a total of 902,000 tonnes of nickel, 134,000 tonnes of copper and 69,000 tonnes of cobalt over the life of mine. Low all-in sustaining costs averaging $3.36 per pound of payable nickel contained in concentrate, net of copper and cobalt by-product credits. Based on analysis provided by CRU International Ltd, Kabanga will fall within the first quartile of the global nickel cost curve. Pre-production capital costs of $942 million, including 9.7% contingency. Total life of mine capital of $2.49 billion includes pre-production capital costs, contingency, capitalized operational expenditures, growth capital, sustaining and closure costs. Life of mine revenue from sales totals $14.1 billion, net of realization costs, with after-tax free cash flow of $4.6 billion. After-tax net present value of $1.58 billion using an 8.0% discount rate and after-tax internal rate of return of 23.3%, based long-term consensus metal prices of $8.49 per pound nickel, $4.30 per pound copper, and $18.31 per pound cobalt. If you would like to sign up for Lifezone Metals news alerts, please register here. Social Media LinkedIn | X | YouTube About Lifezone Metals Lifezone Metals (NYSE: LZM) is committed to delivering cleaner and more responsible metals production and recycling. Through the application of our Hydromet Technology, we offer the potential for lower energy consumption, lower emissions and lower cost metals production compared to traditional smelting. Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade development-ready nickel sulfide deposits. By pairing it with our Hydromet Technology, we are working to unlock a new source of nickel, copper and cobalt for the global battery metals markets and to empower Tanzania to achieve in-country beneficiation. Through our US-based recycling partnership, we are working towards applying our Hydromet Technology to the recovery of platinum, palladium and rhodium from responsibly sourced spent automotive catalytic converters. Our process is expected to be cleaner and more efficient than conventional smelting and refining methods, supporting a circular economy for precious metals. Forward-Looking Statements Certain statements made herein are not historical facts but may be considered 'forward-looking statements' within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the 'safe harbor' provisions under the Private Securities Litigation Reform Act of 1995 regarding, amongst other things, the plans, strategies, intentions and prospects, both business and financial, of Lifezone Metals Limited and its subsidiaries. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements may be accompanied by words such as 'believes,' 'estimates,' 'expects,' 'predicts,' 'projects,' 'forecasts,' 'may,' 'might,' 'will,' 'could,' 'should,' 'would,' 'seeks,' 'plans,' 'scheduled,' 'possible,' 'continue,' 'potential,' 'anticipates' or 'intends' or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters; provided that the absence of these does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding future events, the estimated or anticipated future results of Lifezone Metals, future opportunities for Lifezone Metals, including the efficacy of Lifezone Metals' hydrometallurgical technology (Hydromet Technology) and the development of, and processing of mineral resources at, the Kabanga Nickel Project, our approach to environmental stewardship, social responsibility, safety and governance (ESG), and other statements that are not historical facts. These statements are based on the current expectations of Lifezone Metals' management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lifezone Metals and its subsidiaries. These statements are subject to a number of risks and uncertainties regarding Lifezone Metals' business, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions, including but not limited to economic and operational disruptions; global inflation and cost increases for materials and services; capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; changes in government regulations, legislation and rates of taxation; inflation; changes in exchange rates and the availability of foreign exchange; fluctuations in commodity prices; delays in the development of projects and other factors; the outcome of any legal proceedings that may be instituted against Lifezone Metals; our ability to obtain additional capital, including use of the debt market, future capital requirements and sources and uses of cash; the risks related to the rollout of Lifezone Metals' business, the efficacy of the Hydromet Technology, and the timing of expected business milestones; the acquisition of, maintenance of and protection of intellectual property; Lifezone's ability to achieve projections and anticipate uncertainties (including economic or geopolitical uncertainties) relating to our business, operations and financial performance, including: expectations with respect to financial and business performance, future operating results, financial projections and business metrics and any underlying assumptions; expectations regarding product and technology development and pipeline and market size; events relating to environmental issues, social responsibility, safety and/or governance matters, expectations regarding product and technology development and pipeline; future acquisitions, partnerships, or other relationships with third parties; maintaining key strategic relationships with partners and customers; the timing and significance of contractual relationships; the effects of competition on Lifezone Metals' business; the ability of Lifezone Metals to execute its growth strategy, the development and processing of the mineral resources at the Kabanga Nickel Project; obtaining additional capital, including use of the debt market, future capital requirements, and sources and uses of cash; manage growth profitably and retain its key employees; the ability of Lifezone Metals to reach and maintain profitability; enhancing future operating and financial results; complying with laws and regulations applicable to Lifezone Metals' business; Lifezone Metals' ability to continue to comply with applicable listing standards of the NYSE; our ability to comply with applicable laws and regulations, stay abreast of accounting standards, or modified or new laws and regulations applying to our business, including privacy regulation; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (SEC); meeting future liquidity requirements and complying with restrictive covenants related to long-term indebtedness; and dealing effectively with litigation, complaints, and/or adverse publicity. The foregoing list of risk factors is not exhaustive. There may be additional risks that Lifezone Metals presently does not know or that Lifezone Metals currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Lifezone Metals' expectations, plans or forecasts of future events and views as of the date of this communication. Lifezone Metals anticipates that subsequent events and developments will cause Lifezone Metals' assessments to change. These forward-looking statements should not be relied upon as representing Lifezone Metals' assessments as of any date subsequent to the date of this communication. You should not place undue reliance on forward-looking statements in this communication, which are based upon information available to us as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. In all cases where historical performance is presented, please note that past performance is not a credible indicator of future results. Except as otherwise required by applicable law, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data, or methods, future events, or other changes after the date of this communication.
Cision Canada
5 days ago
- Business
- Cision Canada
NORTHCLIFF ANNOUNCES GOVERNMENT OF CANADA FUNDING FOR THE SISSON PROJECT
VANCOUVER, BC, Aug. 7, 2025 /CNW/ - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce that it has received final approval for funding from Natural Resources Canada ("NRCan") to help advance the Company's Sisson Tungsten-Molybdenum Critical Minerals Project (the "Sisson Project" or the "Project") in Canada. NRCan will provide contribution funding for up to C$8.214 million in support of the costs for the update of the Feasibility Study ("FS Update") and basic engineering through the Global Partnerships Initiative ("GPI"). The objectives of the work being funded by NRCan are to build on and complement the programs being supported through the US$15 million (~C$20.7 million) in Defense Production Act (DPA) Title III funding awarded by the U.S. Department of Defense ("DoD"), as detailed in Northcliff's May 1, 2025 release. This initiative supports Canada and U.S. goals to secure supply chains for the critical minerals needed for important manufacturing sectors, including communication technology, aerospace and defense, and clean technology. Located near tidewater on the southeastern coast of Canada in New Brunswick, the Sisson Project hosts a deposit with the critical minerals tungsten and molybdenum. The Sisson Project has the prospects of becoming an accessible and reliable producer, strengthening and diversifying the supply chain for these two metals used in important industrial, electronic, aerospace and defense applications, and new technologies. Northcliff expended some $70 million on resource, engineering, environmental and economic studies on the Sisson Project that culminated in a positive Feasibility Study in 2013, as well as the provincial and federal processes since that time that resulted in environmental assessment and other key approvals. The Company is currently focused on advancing the Project through the pre-construction phase with several aspects of the planned pre-construction program in progress. These include the FS Update and basic engineering, which is designed to provide the necessary economic and technical information to support a construction decision. Additionally, detailed project development planning, project finance and offtake engagement activities have been initiated (Northcliff June 26, 2025 news release). " Canada is a global leader in mining, including the responsibly sourced critical minerals that power our economy for clean energy, digital technologies, and national defence. This federal investment demonstrates Canada's commitment to increasing Canadian mineral production to strengthen domestic supply chains, create Canadian jobs, and make the most of our natural resources, in New Brunswick and across the country ." The Honourable Tim Hodgson, Minister of Energy and Natural Resources. Andrew Ing, Northcliff's Chairman, President and CEO commented, "Bi-lateral investments by the Canadian and U.S. governments are being made to ensure that the minerals are available to support newly developing technologies as well as maintain security of supply and North American industrial competitiveness. Northcliff has the opportunity to contribute to these key objectives by becoming a reliable, easily accessible, domestic producer of two critical minerals - tungsten and molybdenum. We appreciate this important additional funding from the Canadian government through the GPI, which will complement the DPA Title III award from the U.S. Department of Defense, and welcome the opportunity to work collaboratively with both governments in advancing the Sisson Project towards a construction decision to develop a domestic and resilient supply chain for critical minerals." The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Tanya Yang, a Qualified Person who is not independent of the Company. The Canadian to U.S. dollar exchange rate used in the conversions is US$1 = C$1.38. About Northcliff Resources Ltd. Northcliff is a mineral resource company focused on advancing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. Additional information on Northcliff is available on the website at Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. On behalf of the Board of Directors Andrew Ing Chairman, President & CEO This news release includes certain statements that may be deemed "forward-looking statements" or "forward-looking information" within the meaning of Canadian and United States securities law. All statements, other than statements of historical facts, that address the use of the DoD funds and Government of Canada funds; advancement of the Sisson Project towards a project finance decision, including the successful development and construction of the planned Sisson tungsten-molybdenum mine, concentrator and APT plant to become a reliable source of tungsten and molybdenum are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The assumptions used by Northcliff to develop forward-looking statements include the following: the actual receipt of funds from DoD and the Government of Canada, the Company's ability to complete construction of Sisson Project mine and facilities, the Company's ability to arrange the necessary financing beyond the DoD funding and Government of Canada funding to continue operations and develop the Sisson Project, the receipt of all necessary regulatory approvals for the construction and operation of the Sisson Project; the relevant laws and regulations in Canada and the US; studies and development of the Sisson Project will continue to be positive; our expectations of continued availability of capital and debt financing, and no geological or technical problems will occur. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that may interfere with the Company's ability to continue development of the Sisson Project, the Company may not be able to finance and develop the Sisson Project on favourable terms or at all, relevant regulatory changes, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the Sisson Project, the Company may not be able to secure offtake agreements for the metals to be produced at the Sisson Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the financial markets and in the demand and market price for tungsten, molybdenum and other minerals and commodities, and fluctuations in exchange rates, particularly with respect to the value of the US Dollar and Canadian Dollar; the exploration and development of properties located within First Nations treaty and Aboriginal groups asserted territories may affect or be perceived to affect treaty and asserted aboriginal rights and title, which may cause permitting delays or opposition by Aboriginal groups or communities, environmental issues and liabilities associated with mining including processing and stockpiling; changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions, as well as risks relating to the uncertainties with respect to conflicts in Ukraine and the Middle East. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company reviews its forward-looking statements on an ongoing basis and updates this information when circumstances require it. For more information on the Company, investors should review the Company's annual information form that is available on its profile at
Yahoo
28-07-2025
- Business
- Yahoo
B2Gold Reveals Positive Feasibility Study for Gramalote Gold Project
B2Gold Corp. (NYSE:BTG) is one of the cheap Canadian stocks to buy now. On July 14, B2Gold announced positive results from a Feasibility Study/FS for its 100% owned Gramalote gold project in the Department of Antioquia, Colombia. The Feasibility Study highlights a meaningful gold production profile with favorable metallurgical characteristics. The project envisions an open-pit gold mine with an initial life of mine of 11 years, and mill processing extending over 13 years (Life of Project). The average gold grade processed is projected to be 1.23 grams per tonne (g/t) gold over the first 5 years, benefiting from the higher-grade core, and 0.96 g/t gold over the Life of Project. A man, dressed in protective gear, holding a golden nugget freshly extracted from an underground mining shaft. Total gold production over the Life of Project is estimated at ~ 2.3 million ounces, with an average gold recovery of 95.7% from conventional milling, flotation, and cyanide leach. Average annual gold production is anticipated to be ~227,000 ounces for the first 5 years, decreasing to an average of 177,000 ounces per year over the Life of Project. The All-in Sustaining Costs/AISC are projected at $985 per gold ounce over the Life of Project, with an annual processing rate of 6.0 million tonnes per annum/Mtpa. B2Gold Corp. (NYSE:BTG) is a gold producer company in Canada that operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. While we acknowledge the potential of BTG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error 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
