Latest news with #GreatAtlanticSaltProject
Yahoo
a day ago
- Business
- Yahoo
Atlas Salt is Advancing the Great Atlantic Salt Project with an Updated Feasibility Study
ST. JOHN'S, NF AND LABRADOR / / June 9, 2025 / Atlas Salt Inc. ("Atlas Salt" or the "Company") (TSXV:SALT)(OTCQB:REMRF) is advancing an Updated Feasibility Study (the "UFS" or "FUS") for the Great Atlantic Salt Project (the "Project") in Newfoundland and Labrador, Canada. Building on the Feasibility Study completed in 2023, this UFS will incorporate significant advancements and optimizations to enhance the Project's development strategy. The UFS will focus on optimizing the production rate while balancing capital expenditure, refining mine planning parameters, and integrating recently completed technical studies to improve operational efficiency and economic outcomes; with the ultimate objective of supporting ongoing financing activities. Key Objectives of the Updated Feasibility Study Production Optimization: Assessment of an increased, optimized production rate taking into consideration mine design, throughput capabilities, and market alignment. Refined Mine Plan and Scheduling: Incorporation of updated geotechnical findings, ventilation, and infrastructure requirements to support an efficient development timeline. Processing and Product Mix Enhancements: Refinements to the fines segregation circuit to accommodate both screened mediums for commercial contracts and ASTM D632 bulk road salt, enhancing market flexibility. Integration of Sandvik Mining Equipment: Advancing our memorandum of understanding with Sandvik Mining and Rock Solutions ("Sandvik") through optimization of underground operations by implementing Sandvik Mining Equipment to improve efficiency and reduce operating costs. Updated Economic Analysis: A revised financial model, including updated capital and operating cost estimates, cash flow projections, and key economic indicators such as Net Present Value (NPV) and Internal Rate of Return (IRR). Regulatory Compliance and Permitting Integration: Inclusion of all post-Environmental Assessment release conditions to ensure seamless regulatory alignment. SLR Consulting Ltd. ("SLR"), the lead consultant on the original Feasibility Study, brings extensive experience in mineral resource and reserve assessments, underground mine design, and NI 43-101 Technical Reports. As the lead consultant on the original Feasibility Study, SLR's continuity on this project will ensure a seamless transition and a robust evaluation of the updated development strategy. Patrick Laracy, Chairman & Interim CEO of Atlas Salt, commented: "The initiation of this Updated Feasibility Study marks another important step toward optimizing and advancing the Great Atlantic Salt Project. With SLR's proven expertise and our team's commitment to execution, we are refining our development strategy to maximize value while maintaining the lowest-cost production model. The enhancements incorporated into this study will further de-risk the Project and strengthen our positioning in the North American salt market and increase our attractiveness with major financiers." The Updated Feasibility Study is expected to be completed by Q3 2025, with results providing critical inputs for finalizing financing and development strategies. Financing Update As announced previously (see news release of December 10, 2024) Endeavour Financial has been engaged by the Company to lead the arrangement of project financing for the Great Atlantic Salt Project. Endeavour will continue to progress the project financing process while the UFS work is underway, and completion of the UFS will enable Endeavour and potential lenders to incorporate the Project's updated technical and economic parameters into their evaluations, forming the basis for financing arrangements. The Company will provide updates on the timing and details of financing activities as they advance. Compensation Securities Issued The Company also announces that it has issued compensation securities to certain officers of the Company. A total of 800,000 performance share units have been issued with vesting tied to the achievement of certain objectives but in any event not before June 9, 2026. A total of 700,000 restricted share units ("RSUs") have been issued with 150,000 RSUs vesting on June 9, 2026, 275,000 RSUs vesting on June 9, 2027, and 275,000 RSUs vesting on June 9, 2028. A total of 600,000 stock options have been granted, with an exercise price of $0.49, expiring on June 9, 2030, with 300,000 stock options vesting on June 9, 2026, and 300,000 stock options vesting on June 9, 2027. For further information and ongoing updates, please visit The scientific and technical information contained in this news release has been approved by Andrew Smith, ICD.D, Project Director and General Manager, who is a "Qualified Person" for the purposes of NI 43-101. About Atlas Salt Inc. Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement. For information, please contact: Patrick Laracy, Chairmaninvestors@ 739-9545 We seek safe harbor. Cautionary Statement Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, 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 press release relate to, among other things: obtaining financing, completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. 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 the 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 the respective parties, are inherently subject to significant business, technical, economic, and competitive 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 timing, completion and delivery of required permits, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. SOURCE: Atlas Salt Inc. View the original press release on ACCESS Newswire
Associated Press
a day ago
- Business
- Associated Press
Atlas Salt is Advancing the Great Atlantic Salt Project with an Updated Feasibility Study
ST. JOHN'S, NF AND LABRADOR / ACCESS Newswire / June 9, 2025 / Atlas Salt Inc. ('Atlas Salt' or the 'Company') (TSXV:SALT)(OTCQB:REMRF) is advancing an Updated Feasibility Study (the 'UFS' or 'FUS') for the Great Atlantic Salt Project (the 'Project') in Newfoundland and Labrador, Canada. Building on the Feasibility Study completed in 2023, this UFS will incorporate significant advancements and optimizations to enhance the Project's development strategy. The UFS will focus on optimizing the production rate while balancing capital expenditure, refining mine planning parameters, and integrating recently completed technical studies to improve operational efficiency and economic outcomes; with the ultimate objective of supporting ongoing financing activities. Key Objectives of the Updated Feasibility Study SLR Consulting Ltd. ('SLR'), the lead consultant on the original Feasibility Study, brings extensive experience in mineral resource and reserve assessments, underground mine design, and NI 43-101 Technical Reports. As the lead consultant on the original Feasibility Study, SLR's continuity on this project will ensure a seamless transition and a robust evaluation of the updated development strategy. Patrick Laracy, Chairman & Interim CEO of Atlas Salt, commented: 'The initiation of this Updated Feasibility Study marks another important step toward optimizing and advancing the Great Atlantic Salt Project. With SLR's proven expertise and our team's commitment to execution, we are refining our development strategy to maximize value while maintaining the lowest-cost production model. The enhancements incorporated into this study will further de-risk the Project and strengthen our positioning in the North American salt market and increase our attractiveness with major financiers.' The Updated Feasibility Study is expected to be completed by Q3 2025, with results providing critical inputs for finalizing financing and development strategies. Financing Update As announced previously (see news release of December 10, 2024) Endeavour Financial has been engaged by the Company to lead the arrangement of project financing for the Great Atlantic Salt Project. Endeavour will continue to progress the project financing process while the UFS work is underway, and completion of the UFS will enable Endeavour and potential lenders to incorporate the Project's updated technical and economic parameters into their evaluations, forming the basis for financing arrangements. The Company will provide updates on the timing and details of financing activities as they advance. Compensation Securities Issued The Company also announces that it has issued compensation securities to certain officers of the Company. A total of 800,000 performance share units have been issued with vesting tied to the achievement of certain objectives but in any event not before June 9, 2026. A total of 700,000 restricted share units ('RSUs') have been issued with 150,000 RSUs vesting on June 9, 2026, 275,000 RSUs vesting on June 9, 2027, and 275,000 RSUs vesting on June 9, 2028. A total of 600,000 stock options have been granted, with an exercise price of $0.49, expiring on June 9, 2030, with 300,000 stock options vesting on June 9, 2026, and 300,000 stock options vesting on June 9, 2027. For further information and ongoing updates, please visit The scientific and technical information contained in this news release has been approved by Andrew Smith, ICD.D, Project Director and General Manager, who is a 'Qualified Person' for the purposes of NI 43-101. About Atlas Salt Inc. Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement. For information, please contact: Patrick Laracy, Chairman (709) 739-9545 We seek safe harbor. Cautionary Statement Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, 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 press release relate to, among other things: obtaining financing, completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. 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 the 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 the respective parties, are inherently subject to significant business, technical, economic, and competitive 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 timing, completion and delivery of required permits, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. SOURCE: Atlas Salt Inc. press release
Associated Press
07-05-2025
- Business
- Associated Press
Atlas Salt Appoints Andrew Smith, P.Eng., ICD.D as Project Director & General Manager
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR / ACCESS Newswire / May 7, 2025 / Atlas Salt Inc. ('Atlas Salt' or the 'Company') (TSXV:SALT)(OTCQB:REMRF) is pleased to announce the appointment of Andrew Smith, ICD.D to the position of Project Director & General Manager for the Company's flagship Great Atlantic Salt Project. Since joining Atlas Salt in 2023 as Mine Project Manager, Mr. Smith has played a pivotal role in advancing the Great Atlantic Salt Project through the successful completion of the environmental assessment process, geotechnical drilling and field data collection, and significant progress toward securing provincial regulatory approvals for early works construction. His leadership has been instrumental in establishing rigorous project controls and governance frameworks while driving key permitting, financing, and procurement initiatives. In this expanded role, Mr. Smith will lead the integrated delivery of the project, oversee execution of the capital program, and guide operational readiness efforts. Near-term priorities include: Enhancing and executing the Project's integrated governance framework, management systems, and implementation strategy in preparation for construction. Collaborating with Endeavour Financial to advance the Company's project financing strategy and engagement with capital providers. Working with ICI Innovations and other technical partners to finalize construction-phase permits and regulatory approvals from the provincial authority, building on the project's prior release from the environmental assessment process. Supporting the Company's commercial strategy through the development and expansion of long-term offtake agreements. 'Andrew's appointment reflects the exceptional leadership, professionalism, and execution discipline he has brought to the Great Atlantic Salt Project' said Patrick Laracy, Chairman of Atlas Salt. " His expanded role is critical as we advance toward construction, ensuring we meet our objectives with the highest standards of safety, sustainability, and community engagement.' 'I am honored to take on this expanded role and lead the Great Atlantic Salt Project into its next phase,' said Andrew Smith. 'This is a world-class project, and I look forward to continuing to work alongside our partners, communities, and the Atlas Salt team to safely and responsibly build Newfoundland and Labrador's next major mine.' For further information and ongoing updates, please visit The scientific and technical information contained in this news release has been approved by Andrew Smith, ICD.D, Project Director and General Manager, who is a 'Qualified Person' for the purposes of NI 43-101. About Atlas Salt Inc. Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement. For information, please contact: Patrick Laracy, Chairman [email protected] (709) 739-9545 We seek safe harbor. Cautionary Statement Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, 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 press release relate to, among other things: obtaining financing, completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. 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 the 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 the respective parties, are inherently subject to significant business, technical, economic, and competitive 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 timing, completion and delivery of required permits, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. SOURCE: Atlas Salt Inc. press release
Associated Press
14-04-2025
- Business
- Associated Press
Atlas Salt Completes Geotechnical Drilling and In-Field Data Collection for Great Atlantic Salt Project
ST. JOHN'S, NL / ACCESS Newswire / April 14, 2025 / Atlas Salt Inc. ('Atlas Salt' or the 'Company') (TSXV:SALT)(OTCQB:REMRF) is pleased to announce the successful completion of the geotechnical drilling and in-field data collection phase of its Geotechnical Drilling and Investigation Program at the Great Atlantic Salt Project in western Newfoundland. Data analysis and reporting activities remain underway, with final results anticipated in Q3 2025. Geotechnical Drilling and Investigation Program Milestones Robert Booth, Vice President of Construction & Engineering for Atlas Salt, commented: 'Completing the field portion of our Geotechnical Drilling and Investigation Program on schedule is a major achievement for the Great Atlantic Salt Project. The data we've collected will help us make informed decisions that reduce risk, and enhance both safety and cost efficiency as we move toward construction.' The Company, in collaboration with Terrane Geoscience Inc. and GEMTEC Consulting Engineers and Scientists Ltd, will now focus on interpreting the data collected, incorporating it into detailed design parameters for the decline and box cut. This crucial process, which is expected to conclude in Q3 2025, lays the groundwork for a safe and robust capital development plan that meets the Company's technical, environmental, and operational objectives. For further information and ongoing updates, please visit . The scientific and technical information contained in this news release has been approved by Andrew Smith, Mine Project Manager, who is a 'Qualified Person' for the purposes of NI 43-101. About Atlas Salt Inc. Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement. For information, please contact: Patrick Laracy, Chairman (709) 739-9545 We seek safe harbor. Cautionary Statement Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, 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 press release relate to, among other things: obtaining financing, completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. 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 the 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 the respective parties, are inherently subject to significant business, technical, economic, and competitive 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 timing, completion and delivery of required permits, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. SOURCE: Atlas Salt Inc. press release
Associated Press
03-03-2025
- Business
- Associated Press
Atlas Salt Submits Early Works Development Plan for Great Atlantic Salt Project
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR / ACCESS Newswire / March 3, 2025 / Atlas Salt Inc. ('Atlas Salt' or the 'Company') (TSXV:SALT)(OTCQB:REMRF) is pleased to announce the formal submission of the Early Works Mine Development and Rehabilitation and Closure Plan (the 'Early Works Development Plan') to the Department of Industry, Energy and Technology for the Government of Newfoundland and Labrador, for the Great Atlantic Salt Project (the 'Project') in Newfoundland and Labrador, Canada. The submission of the Early Works Development Plan marks a critical milestone in advancing the Project toward construction. This plan outlines the phased approach for site preparation and early-stage infrastructure development, ensuring regulatory compliance while de-risking key project components ahead of full-scale mine construction. Key Components of the Early Works Development Plan Site Preparation: Clearing and grubbing activities, stockpile pad grading, and initial earthworks to establish the mine site footprint. Primary and Secondary Access Roads: Construction of a 1.3 km primary access road from Steel Mountain Road and a 300 m secondary access route along the planned conveyor corridor. Surface Infrastructure: Development of laydown areas, temporary construction facilities, and essential utilities to support subsequent project phases. Sediment and Erosion Control Measures: Implementation of stormwater management systems, catchment ditches, and a temporary settling basin to mitigate environmental impacts. Regulatory Compliance and Permitting: Submission of required approvals for road access, site disturbance, and water management infrastructure, ensuring alignment with provincial environmental guidelines. The Early Works Development Plan enables Atlas Salt to initiate critical site activities ahead of full project execution, accelerating timelines for major construction phases. By proactively addressing key infrastructure and environmental management requirements, the Company aims to optimize the transition into mine development while maintaining a rigorous approach to regulatory compliance. Richard LaBelle, CEO of Atlas Salt, commented: 'The submission of the Early Works Development Plan represents another significant step in de-risking the Great Atlantic Salt Project and positioning Atlas Salt as a leading low-cost producer in the North American salt market. This milestone ensures we remain on track for the timely development of critical project infrastructure, paving the way for commercial production.' Pending governmental review and approval, Early Works construction is expected to commence in 2025, with subsequent phases progressing in alignment with the overall project schedule. For further information and ongoing updates, please visit About Atlas Salt Inc. Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement. For information, please contact: Richard LaBelle, CEO (709) 739-9545 We seek safe harbor. Cautionary Statement Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, 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 press release relate to, among other things: obtaining financing, completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. 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 the 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 the respective parties, are inherently subject to significant business, technical, economic, and competitive 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 timing, completion and delivery of required permits, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
