Latest news with #FrontierLithium
Yahoo
2 days ago
- Business
- Yahoo
Ontario to back ‘handful' of mineral projects with $500M fund
The Ontario government plans to make big-ticket investments in 'three or four' critical minerals processing projects using $500 million allocated in the province's 2025 budget, according to Vic Fedeli, Ontario minister of economic development, job creation and trade. The narrow focus of the Critical Minerals Processing Fund will let the province make large contributions to a 'handful' of major projects, as opposed to delivering small-scale support to many, Fedeli told Automotive News Canada. 'There are many, many mines in Ontario that want to open, and we want to make sure that every ounce of ore that comes out of the ground gets processed here in Ontario.' Sign up for Automotive News Canada Breaking Alerts and be the first to know when big news breaks in the Canadian auto industry. The province's latest budget, introduced at Queen's Park in mid-May, received royal assent June 5. The province is already taking applications for the new fund, Fedeli said, pointing to nickel-mining projects in Sudbury and Timmins, as well as developments in the Ring of Fire region 500 kilometres northeast of Thunder Bay as possible candidates for a share of the $500 million. The fund is not directly tied to the province's electric-vehicle battery supply chain, but the nascent sector looks likely to benefit from the provincial investment capital. Fedeli pointed to Frontier Lithium's planned processing plant in Thunder Bay as an example of the type and scale of the projects that the new fund will support. The Ontario company is developing a lithium mine about 500 kilometres northwest of Thunder Bay and a conversion plant that will process mined material into battery-ready lithium salts in the city. The provincial government committed up to $160 million, separately from the new fund, in March to the processing portion of the project. Meanwhile, Ontario intends to designate the mineral-rich Ring of Fire as a so-called special economic zone 'as quickly as possible,' Premier Doug Ford said June 5. Ford said he and several ministers will consult all summer with First Nations about the new law that allows the Ontario government to suspend provincial and municipal rules before making the designation. 'We need to start moving on that,' Ford said of the designation for the Ring of Fire. The law seeks to speed up the building of large projects, particularly mines. Ford's government has committed $1 billion to develop the Ring of Fire. Three First Nations have signed various agreements with the province to help build roads to the region, as well as develop the area where it connects to the provincial highway system. However, First Nations across Ontario have risen up to protest the province's new law, livid about what what they describe as the government's audacity to strip away any law it sees fit for any project at any time. They say it tramples their treaty rights and ignores their concerns. The First Nations want to be part of development, including mines, but want to be equal partners with the province on the legislative side. — The Canadian Press contributed to this report.
Yahoo
10-04-2025
- Business
- Yahoo
TSX's Promising Penny Stocks For April 2025
As the Canadian market navigates through a period of economic uncertainty influenced by global trade dynamics and potential inflationary pressures, investors are keeping a close eye on opportunities that can withstand volatility. Penny stocks, while an outdated term, continue to represent intriguing prospects for growth, particularly among smaller or newer companies with robust financial health. In this article, we explore several promising penny stocks that combine strong balance sheets with potential for long-term success amidst current market conditions. Name Share Price Market Cap Financial Health Rating Westbridge Renewable Energy (TSXV:WEB) CA$0.65 CA$58.67M ★★★★★★ NTG Clarity Networks (TSXV:NCI) CA$1.52 CA$59.02M ★★★★★☆ Orezone Gold (TSX:ORE) CA$0.82 CA$386.7M ★★★★★☆ Amerigo Resources (TSX:ARG) CA$1.69 CA$259.28M ★★★★★☆ Hemisphere Energy (TSXV:HME) CA$1.73 CA$159.59M ★★★★★☆ Alvopetro Energy (TSXV:ALV) CA$4.64 CA$167.51M ★★★★★★ PetroTal (TSX:TAL) CA$0.60 CA$503.72M ★★★★★☆ McCoy Global (TSX:MCB) CA$2.61 CA$65.23M ★★★★★★ Findev (TSXV:FDI) CA$0.50 CA$14.32M ★★★★★★ BluMetric Environmental (TSXV:BLM) CA$1.09 CA$39.5M ★★★★★★ Click here to see the full list of 934 stocks from our TSX Penny Stocks screener. Below we spotlight a couple of our favorites from our exclusive screener. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Frontier Lithium Inc. is involved in the acquisition, exploration, and development of mining properties in North America with a market cap of CA$114.01 million. Operations: Frontier Lithium Inc. currently does not report any distinct revenue segments, focusing on the acquisition, exploration, and development of mining properties in North America. Market Cap: CA$114.01M Frontier Lithium Inc., with a market cap of CA$114.01 million, remains pre-revenue and is focused on developing mining properties in North America. Despite its unprofitability, the company has not experienced shareholder dilution over the past year and maintains a debt-free status with short-term assets exceeding liabilities. Recent developments include government support for a planned Lithium Conversion Facility in Thunder Bay, Ontario, which could enhance Canada's critical minerals strategy. The facility aims to process materials from various lithium resources and support electric vehicle battery production. Frontier's management and board are considered experienced, providing strategic guidance during this expansion phase. Take a closer look at Frontier Lithium's potential here in our financial health report. Evaluate Frontier Lithium's prospects by accessing our earnings growth report. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Grande Portage Resources Ltd. is an exploration stage company focused on exploring and developing natural resource properties in the United States, with a market cap of CA$21.33 million. Operations: Grande Portage Resources Ltd. has not reported any specific revenue segments. Market Cap: CA$21.33M Grande Portage Resources Ltd., with a market cap of CA$21.33 million, is pre-revenue and focused on developing its New Amalga Mine Project in the U.S. The company recently announced promising test results from a sensor-based ore sorting system, which could reduce costs by minimizing waste and enhancing gold yield without chemical processing. Despite being debt-free and having seasoned management, Grande Portage faces financial challenges with less than a year of cash runway and ongoing losses. Auditor concerns about its ability to continue as a going concern highlight the risks involved for potential investors in this exploration-stage company. Click here and access our complete financial health analysis report to understand the dynamics of Grande Portage Resources. Learn about Grande Portage Resources' historical performance here. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Unigold Inc. is a junior natural resource company dedicated to exploring and developing gold projects in the Dominican Republic, with a market cap of CA$25.01 million. Operations: Unigold Inc. has not reported any revenue segments. Market Cap: CA$25.01M Unigold Inc., with a market cap of CA$25.01 million, is a pre-revenue junior resource company focused on gold exploration in the Dominican Republic. The company recently completed a non-brokered private placement, raising CA$293,150 to support ongoing operations. Unigold remains debt-free and its short-term assets exceed liabilities, but it faces financial constraints with only three months of cash runway based on recent free cash flow estimates. Despite unprofitability and high share price volatility, the experienced management team continues to pursue development opportunities while addressing capital needs through strategic financing initiatives such as private placements. Jump into the full analysis health report here for a deeper understanding of Unigold. Gain insights into Unigold's historical outcomes by reviewing our past performance report. Take a closer look at our TSX Penny Stocks list of 934 companies by clicking here. Contemplating Other Strategies? Trump has pledged to "unleash" American oil and gas and these 20 US stocks have developments that are poised to benefit. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TSXV:FL TSXV:GPG and TSXV:UGD. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
CBC
13-03-2025
- Business
- CBC
Thunder Bay lithium refinery would create 'hundreds' of jobs: Fedeli
A proposed Thunder Bay lithium refinery has taken a big step forward, getting support from both the provincial and federal governments. Frontier Lithium intends to build the facility on Mission Island. It would convert lithium from the company's PAK mine, located north of Red Lake, into about 20,000 tonnes of lithium salts annually. "It's obviously been based on many years of investment and hard work here in northern Ontario, and it's a huge vote of confidence that Frontier Lithium brings essential ingredients to the table with regards obviously to the PAK Lithium Project," said Trevor Walker, president and CEO of Frontier Lithium. "It's conditional support, lots of work to get done over the next nine to 12 months here." Walker said the company has purchased a site on Mission Island — the former location of the Thunder Bay Generating Station — for the refinery. "It's a very well-connected city," he said of Thunder Bay. "It's really a strategic location in the heart of Canada, has great access to international markets." "It's an excellent service and supply hub for the north." In an interview with CBC News, Vic Fedeli, who was Ontario minister of economic development, job creation and trade during the previous term of the Ontario PC government — Premier Doug Ford won re-election on Feb. 27, and his new cabinet will be sworn in on March 19 — said the project is a "very exciting" one. "Frontier will eventually announce the number of direct employees, but it's in the hundreds," Fedeli said. "Also the indirect jobs are going to be vast, because this is the bottom end of the food chain, if you will." "Quite a lot of people will be involved," he said. "The lithium needs to be mined, it needs to be transported." Fedeli said the facility is also key in helping the province navigate a trade war between Canada and the United States. "Lithium is very sought after," he said. "Ontario is the only jurisdiction in North America that has all of the minerals needed in electric vehicle battery: lithium, nickel, cobalt, basically everything." "The United States has one nickel mine, and not of the high grade," Fedeli said. "One lithium mine. They don't make lithium hydroxide. This will be North America's very first lithium hydroxide conversion plant." Walker said the project can not only create hundreds of direct jobs in Thunder Bay, but also many indirect jobs in surrounding communities, including First Nations. "The conversation has been taking place over last couple of years with regards to Fort William First Nation," he said. "This is about an inclusive project." Walker said the facility will take two to three years to build, and the company hopes to have the refinery operational in 2030. He said the PAK deposit has about a 30-year lifespan "as it sits." "That resource is still what we call open," he said. "It has the ability to continue to grow. This is a multi-generational asset that we see, so we see a life that would go well beyond 50 years of potential here."
Yahoo
07-03-2025
- Business
- Yahoo
PDAC 2025: Frontier Lithium's refinery project wins government backing
Canada's federal government has pledged funding of up to C$120m for Frontier Lithium's 'first of a kind' lithium refinery project in Thunder Bay, Ontario. Canada's Minister for Energy and Natural Resources, Jonathan Wilkinson, announced the conditional support from the Strategic Innovation Fund at PDAC 2025 in Toronto. Ontario's state government is also considering supporting the facility with up to C$120m of additional funding. 'This proposed investment is not only a testament to our province's reputation as a reliable and prosperous partner in supplying and producing critical minerals [but] it also reaffirms that our mining sector is at the heart of our plan to protect Ontario,' said Vic Fedeli, Ontario's Minister of Economic Development, Job Creation and Trade. Frontier Lithium's proposed refinery would have the capacity to produce 20,000 tonnes per annum (tpa) of lithium salts from the PAK lithium project, supporting battery production for around 500,000 electric vehicles per year. The PAK lithium project is a joint venture between Frontier Lithium (92.5%) and Japan's Mitsubishi Corp (7.5%). Frontier Lithium CEO Trevor Walker called the deal a 'significant milestone' and welcomed the support for upstream critical minerals processing in Ontario. George Pirie, Ontario's Minister of Mines, added that the province needs to do 'even more to expand critical mineral development and processing' to protect the economy in the face of US President Trump's recently imposed tariffs. The US imposed 25% tariffs on Canadian exports and 10% on Canadian energy from 4 March. In response, Canada's Prime Minister Justin Trudeau announced 25% tariffs 'on $30bn worth of goods immediately and tariffs on the remaining $125bn on American products in 21 days' time'. At PDAC, Wilkinson also announced that the Critical Minerals Infrastructure Fund is open for its second round of applications. 'Successful projects will focus particularly on critical minerals that will support applications in Canada and around the world, across key sectors including energy, semiconductors and defence,' Wilkinson said. The call for proposals will provide up to C$500m in funding to projects that are in preconstruction and 'shovel ready'. "PDAC 2025: Frontier Lithium's refinery project wins government backing " was originally created and published by Mining Technology, 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
