Latest news with #Jamaican-based
Associated Press
25-04-2025
- Business
- Associated Press
Royalty Management Holding Corporation Provides Funds for Additional Development and Mineral Analysis at Its Jamaican Critical Mineral Investment
Company Provides Additional Capital to Progress the Projects Permitting and Analysis for Potential of Additional Rare Earth Elements and Critical Minerals Within the Deposit Initial Target Resource of Vanadium, Titanium, Magnetite, and Iron Ore; Analysis to Identify Other Targets FISHERS, INDIANA - April 25, 2025 ( NEWMEDIAWIRE ) - Royalty Management Holding Corporation (Nasdaq: RMCO) ('Royalty Management' 'RMCO', or the 'Company'), a forward leaning royalty company building shareholder value by acquiring and developing high value assets in a variety of resource-driven and emerging technology industries, announce today that it has provided additional capital towards the progress and development of T.R. Mining & Equipment Ltd.'s ('TR Mining') operating permit for its vanadium, titanium, magnetite, and iron ore mine currently under development. With the prospecting permit established, TR Mining and the Company are advancing efforts to complete the operating permit for TR Mining's resource extraction, processing, and sale from this diverse mineral deposit. Royalty Management receives a 10.0% royalty on the sale of all minerals, elements, resources, and products from the permit, which encompasses an area of 25 square kilometers along the southern region of Jamaica and contain no less than 212 million tons of raw sand and ore containing critical minerals and other valuable elements. Concurrent with the capital investment towards completing the operating permit, Royalty Management is also investing capital towards additional sampling and analysis of the deposit to determine if there are any other rare earth elements or other critical minerals in meaningful concentration to be commercially valuable, as can be typical with other similar resources. 'We believe this property will be highly economic based on the already proven reserves that have been identified but the unique characteristics of the site lead us to believe that there may be other valuable elements and minerals that make sense to test and analysis,' commented Tom Sauve, Chief Executive Officer of Royalty Management. 'We have deployed additional capital to the site to start building infrastructure in conjunction with our operator, American Infrastructure Corporation. Furthermore, we are executing on a testing program to see if there are other elements present at this deposit that have not been tested yet and can be monetized by TR Mining and Royalty Management. The need for critical and rare earth elements in the world today is expanding rapidly, and in other similar resource deposits, these valuable materials have been present as well. We look forward to sharing any sampling and analysis results with our shareholders.' The Jamaican-based resource deposit is part of a Special Exclusive Prospecting License (or 'SEPL') that covers an area of approximately 25 permitted square kilometers. Of the identified minerals within the SEPL thus far, RMCO will work with mining companies to focus on the extraction and sale of an initial set of high value products, including: About Royalty Management Holding Corporation Royalty Management Holding Corporation (NASDAQ: RMCO) is a royalty company building shareholder value to benefit both its shareholders and communities by acquiring and developing high value assets in a variety of market environments. The model is to acquire and structure cashflow streams around assets that can support the communities by monetizing the current existing cash flow streams while identifying transitionary cash flow from the assets for the future. For more information visit Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements,' including with respect to the initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those that will be set forth in the 'Risk Factors' section of the Company's registration statement and proxy statement/prospectus to be filed with the SEC. Copies will be available on the SEC's website, The information contained in this release is as of the date first set forth above. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Royalty Management Holding Corporation Contact: Thomas Sauve Chief Executive Officer (646) 245-2465 SOURCE: Royalty Management Holding Corporation
Yahoo
29-01-2025
- Yahoo
Charlotte federal judge sentenced Jamaican man to prison for operating fraudulent lottery scheme: DOJ
CHARLOTTE, N.C. (QUEEN CITY NEWS) — A federal judge in Charlotte sentenced a Jamaican man to prison for operating a Jamaican-based fraudulent lottery scheme on Monday, according to the Department of Justice. According to court documents, and as part of his plea, Anthony Linton Stewart, 40, admits that from 2010 to at least 2016, he led a fraudulent lottery fraud scheme where he and his co-conspirators targeted victims in the U.S. Stewart admitted that he contacted elderly people by phone and falsely told them that they won the lottery or other prizes in a sweepstakes. Stewart told victims that they needed to send money to pay fees and taxes on their winnings. He would repeatedly contact victims for as long as they could be persuaded to send more money. No lottery existed and no victim ever received any winnings. Queen City News is tracking CRIME in your area 🚨 >> 'Overseas lottery schemes are unfortunately a common means by which foreign criminals seek to target U.S. citizens, particularly elder Americans,' said Acting Assistant Attorney General Brett A. Shumate of the Justice Department's Civil Division. 'Such schemes are unacceptable, and the Department will hold accountable those who participate in them.' Stewart pleaded guilty on August 3, 2023, to one count of conspiracy to commit mail and wire fraud. On Jan. 27, 2025, Stewart was sentenced to 84 months in prison and ordered to pay $1,104,041.74 in restitution. 'Stealing money from elderly individuals is a despicable crime,' said U.S. Attorney Dena J. King for the Western District of North Carolina. 'Today's sentence sends a clear message that fraudsters who target and exploit older adults for financial gain will be brought to justice.' If you or someone you know is age 60 or older and has been a victim of financial fraud, contact the National Elder Fraud Hotline at 1-833-FRAUD-11 (1-833-372-8311). Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
