Latest news with #LibertyGold
Globe and Mail
4 days ago
- Business
- Globe and Mail
Liberty Gold: Advancing a Multi-Million Ounce Gold Project With Antimony Upside
A near-construction oxide gold mine in the Great Basin with added exposure to critical minerals Why This Matters Liberty Gold (TSX: LGD, OTCQX: LGDTF) is developing one of the Great Basin's most significant open-pit gold oxide deposits at a time when U.S. domestic resource supply is under the spotlight. The company's flagship asset, located in southern Idaho, holds a 5 to 8 million-ounce gold system with a completed prefeasibility study and formal mine permitting process already underway. With its low-cost heap leach model and scalable footprint, the project is on track to support future construction. Meanwhile, Liberty Gold is creating additional value with the discovery of high-grade antimony mineralization at its second asset in Utah. As global demand grows for antimony, a critical mineral used in munitions and fire retardants, the company plans to spin out this asset into a new entity—offering Liberty shareholders exposure to both gold development and strategic minerals. With strong project economics and infrastructure access, Liberty Gold is positioning itself to be a key U.S. player in both precious and critical metals. Key Takeaways: Flagship oxide gold asset with up to 8 million ounces in southern Idaho Low-cost, open-pit heap leach model with robust PFS and permitting underway Discovery of high-grade antimony at second site adds critical mineral upside Spinout planned for Utah asset, providing Liberty shareholders with added exposure Operating in mining-friendly U.S. jurisdictions with clear permitting pathways Published by
Yahoo
13-05-2025
- Business
- Yahoo
Liberty Gold Reports Q1 2025 Financial and Operating Results
VANCOUVER, British Columbia, May 13, 2025 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the 'Company'), is pleased to announce its financial and operating results for the quarter ended March 31, 2025. All amounts are presented in United States dollars unless otherwise stated. FIRST QUARTER OF 2025 AND RECENT HIGHLIGHTS On April 22, 2025, the Company closed a bought deal financing (the '2025 Bought Deal')1, whereby the Underwriters purchased, on a bought-deal basis, 69,699,200 Common Shares, at a price of C$0.33 per Unit, for gross proceeds of C$23,000,736. Each Unit consists of one common share of the Company ('Common Share') and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.45 until April 22, 2027. On April 28, 20252 we announced the intention of Cal Everett to step down as Chief Executive Officer and Director on June 12, 2025 and the intended appointment of Jon Gilligan, current President and COO, as his replacement. On April 16, 20253 the Company announced that Darin Smith, its Senior Vice President Corporate Development, submitted his notice of resignation, effective May 6th, 2025, to pursue another opportunity. At the Black Pine project ('Black Pine'), On February 6, 20254, we announced results from step-out and infill drilling, successfully expanding the deposit footprints at Rangefront, M Zone and CD Pit, with mineralization remaining open to extension in all three areas; highlights include: 15.2 m of 5.51 g/t Au including 9.1 m of 7.88 g/t Au in LBP1048; a shallow oxide intercept of 24.4 m of 0.96 g/t Au including 6.1 m of 1.94 g/t Au starting at 76.2 m downhole in LBP1078; LBP1061 returning 21.3 m of 0.54 g/t Au starting at 61 m downhole; 24.4 m of 0.50 g/t Au starting at 109 m downhole in LBP1075; and LBP1076 which returned 19.8 m of 0.62 g/t Au. On February 26, 20255 we announced the formal submission of the draft Mine Plan of Operations ('MPO') to the United States Forest Service ('USFS'), the Bureau of Land Management ('BLM'), the Idaho Department of Environmental Quality ('IDEQ'), and the Idaho Department of Lands ('IDL'); and secondly, the successful execution of an interagency Memorandum of Understanding ('MOU') between Liberty Gold, USFS, BLM, the Idaho Governor's Office of Energy and Mineral Resources, the IDEQ, and the IDL, to facilitate coordination of the entire mine permitting process for Black Pine. At the Goldstrike project in Utah ('Goldstrike'), We announced on February 11, 20256 and April 13, 2025, the intention to spin-out Goldstrike and the adjacent Antimony Ridge discovery into a separate corporate entity named Specialty American Metals Inc ('Specialty American'). The proposed spinout structure is expected to be effected by a plan of arrangement (the 'Arrangement') between Liberty Gold and Specialty American and is expected to be subject to customary conditions, including regulatory and court approval, as well as approval via a shareholder vote expected to occur in the third quarter of 2025. Under the Arrangement, a portion of the common shares of Specialty American would be distributed to Liberty Gold's shareholders, at a ratio to be determined in due course. Liberty Gold will retain a percentage of shares of Specialty American in exchange for funds already invested in the project. Cal Everett and Greg Etter from Liberty Gold's board of directors have agreed to join the board of Specialty American and suitable independent candidates have been identified for the remainder of the board. Russell Starr has agreed to become the CEO of Specialty American, Peter Shabestari, Liberty Gold's Vice President of Exploration, will join as its President and Joanna Bailey, Liberty Gold's CFO, will serve in the same capacity with Specialty American. SELECTED FINANCIAL DATA The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the 'Interim Financial Statements') for the three months ended March 31, 2025, as prepared in accordance with IFRS Accounting Standards – IAS 34: Interim Financial Statements. A copy of the Annual Financial Statements is available on the Company's website at or on SEDAR+ at The information in the tables below is presented in $'000s, except 'per share' data: Three months ended March 31, 2025 2024 Attributable to shareholders: Loss for the period from continuing operations (2,678 ) (2,990 ) Loss and comprehensive loss for the period from continuing operations (127 ) (197 ) Basic and diluted loss per share from continuing operations (0.01 ) (0.01 ) As at March 31, As at December 31, 2025 2024 Cash and short-term investments $ 4,905 $ 6,967 Working capital7 $ 5,283 $ 7,345 Total assets $ 22,399 $ 24,436 Current liabilities $ 2,136 $ 2,061 Non-current liabilities $ 1,184 $ 1,216 Shareholders' equity $ 19,080 $ 21,159 ABOUT LIBERTY GOLD Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. For more information, visit or contact: Susie Bell, Manager, Investor Relations Phone: 604-632-4677 or Toll Free 1-877-632-4677 info@ Peter Shabestari, Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate. Quality Assurance – Quality ControlDrill composites were calculated using a cut-off of 0.15 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30% and 100% of the reported lengths due to varying drill hole orientations but are typically in the range of 50% to 90% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t Au were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.10 parts per million an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. All holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko and Twin Falls prep lab listed on the scope of accreditation. This news release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities laws, including statements or information concerning, future financial or operating performance of Liberty Gold and its business, operations, properties and condition; planned de-risking activities at Liberty Gold's mineral properties; the potential quantity, recoverability and/or grade of minerals; the potential size of a mineralized zone or potential expansion of mineralization; proposed exploration and development of Liberty Gold's exploration property interests; the results of mineral resource estimates or mineral reserve estimates and preliminary feasibility studies; and the Company's anticipated expenditures. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, timely receipt of governmental or regulatory approvals, including any stock exchange approvals; receipt of shareholder approval and court approval for the spin-out transaction; receipt of a financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, results of any mineral resources, mineral reserves, or pre-feasibility study, the availability of drill rigs, the timing of receipt of future staged payments from the sale of TV Tower, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct. Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company's mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing or results of the publication of any mineral resources, mineral reserves or pre-feasibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing, timing of receipt of staged payments on the sale of TV Tower or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 25, 2025, in the section entitled "Risk Factors", under Liberty Gold's SEDAR+ profile at Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except for material differences between actual results and previously disclosed material forward-looking information, or as otherwise required by law. Except for statements of historical fact, information contained herein or incorporated by reference herein constitutes forward-looking statements and forward-looking information. Readers should not place undue reliance on forward-looking information. All forward-looking statements and forward-looking information attributable to us is expressly qualified by these cautionary statements. Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources The information in this MD&A, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. Without limiting the foregoing, these documents use the terms 'measured resources', 'indicated resources', 'inferred resources' and 'mineral reserves'. These terms are Canadian mining terms as defined in, and required to be disclosed in accordance with, NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the 'CIM') – CIM Definition Standards, adopted by the CIM Council, as amended. However, these standards differ significantly from the mineral property disclosure requirements of the United States Securities and Exchange Commission (the 'SEC') in Regulation S-K Subpart 1300 (the 'SEC Modernization Rules') under the United States Securities Act of 1934, as amended. The Company does not file reports with the SEC and is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards. 1 See press release dated April 14, 2025, and April 22, 20252 See news release dated April 28, 20253 See press release dated April 16, 20254 See press release dated February 6, 20255 See news release dated February 26, 20256 See news release dated February 11, 2025, and April 13, 20257 These financial measures or ratios are non-IFRS financial measures or ratios. Certain additional disclosures for non-IFRS financial measures and ratios have been incorporated by reference and additional detail can be found in the Company's March 31, 2025 MD& 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
Associated Press
28-04-2025
- Business
- Associated Press
Liberty Gold Announces the Retirement of Cal Everett, CEO & Director and the Appointment of Dr. Jon Gilligan as new President and Chief Executive
VANCOUVER, British Columbia, April 28, 2025 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ('Liberty Gold' or the 'Company') today announces that after more than eight years of distinguished service, Cal Everett, the Company's Chief Executive Officer and Director, will be retiring from Liberty Gold and will be transitioning to the recently announced spin-out entity, Specialty American Metals Inc., as a non-executive director. The Company's Board of Directors will appoint Dr. Jon Gilligan as a Board Director as the new President and Chief Executive Officer of Liberty Gold, effective June 12, 2025. Cal will continue to provide his deep expertise in financial markets to Liberty Gold as a Senior Financial Strategist and will work closely with the new CEO and the Board in an advisory capacity. As Liberty Gold focuses on permitting and developing its flagship oxide gold asset at Black Pine, Cal will focus on supporting creation of the spin-out entity, Specialty American Metals Inc. This will hold 100% of the Goldstrike/Antimony Ridge project in SW Utah. He will assume a director position at Specialty American Metals Inc. and will work closely with the new CEO to fund and acquire additional projects for this new US critical metals exploration and development company. During his tenure at Liberty Gold, Mr. Everett has successfully guided the Company through multiple gold discoveries, extensive permitting activities, significant growth and development. His leadership has been instrumental in advancing the Company's flagship projects, expanding its gold resources, and building significant value for shareholders. Under his guidance, Liberty Gold is now recognized as a major player in the US Great Basin oxide gold developer space, with a bright future ahead. The Board of Directors expresses its deep gratitude to Mr. Everett for his outstanding contribution to Liberty Gold and his tireless dedication to the Company's development. 'Cal's leadership has been critical to Liberty Gold's success and we thank him for his unwavering commitment. We wish him all the best in retirement from Liberty Gold as CEO, although I know he can never fully retire,' said Rob Pease, Chair of the Board. Effective June 12, 2025, Dr. Jon Gilligan, who currently serves as President and Chief Operating Officer, will assume the role of President and Chief Executive Officer and director of Liberty Gold. Dr. Gilligan brings over 35 years of experience in the mining industry, with a proven track record of leading exploration, development mine building teams and operating groups to success. His expertise in resource development, operations, mine building, corporate leadership and the recent successful pre-feasibility study published on the Black Pine project, make him the ideal candidate to lead Liberty Gold through its next phase of growth. 'I am honored to step into Cal's illustrious shoes at such an exciting time in the Company's development,' said Jon Gilligan. 'Cal has built a solid foundation for this company and I am eager to build on the current team to unlock the full potential of our projects in the Great Basin and deliver value for our shareholders. I am grateful to Cal for his remarkable support and his willingness to provide on-going guidance to the Board and senior management during the next steps of the Company's growth.' The Board of Directors is confident that the Liberty Gold team, under Dr. Gilligan's vision and leadership will ensure the continued success of Liberty Gold as it advances its exploration and development programs at Black Pine and moves through US mine permitting, towards a mine construction decision targeted for late 2027. In an inimitable parting message, Cal commented, 'Liberty Gold is in good hands with Jon. I am excited to move on to be a part of creating something new in Specialty Metals. The association with Liberty Gold will continue and this new company will provide additional value for our shareholder base. It has been a pleasure to work here, both in good times and in bad, and I have relished dealing with the intricacies of market conditions at any given moment. I cannot put on a pair of plaid golf pants with the waist band up to my arm pits by simply walking away and going into the light. Time to buy some new suits.' ABOUT LIBERTY GOLD Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. The Company is advancing the Black Pine Project in southeastern Idaho, a past-producing, Carlin-style gold system with a large, growing resource and strong economic potential. For more information, visit or contact: Susie Bell, Manager, Investor Relations Phone: 604-632-4677 or Toll Free 1-877-632-4677 [email protected] All statements in this press release, other than statements of historical fact, are 'forward-looking information' with respect to Liberty Gold within the meaning of applicable securities laws. Forward-looking information is often, but not always, identified by the use of words such as 'intends', 'seek', 'anticipate', 'plan', 'continue', 'planned', 'expect', 'project', 'predict', 'potential', 'targeting', 'intends', 'believe', 'potential', and similar expressions, or describes a 'goal', or variation of such words and phrases or state that certain actions, events or results 'may', 'should', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct. Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company's mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 25, 2025 in the section entitled 'Risk Factors', under Liberty Gold's SEDAR+ profile at
Associated Press
14-04-2025
- Business
- Associated Press
Liberty Gold Announces $20 Million Bought Deal Public Offering
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ VANCOUVER, BC, April 14, 2025 /CNW/ - Liberty Gold Corp. (TSX: LGD) (OTCQX: LGDTF) ('Liberty Gold' or the 'Company') is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. as sole bookrunner on behalf of a syndicate of underwriters (collectively, the 'Underwriters'), pursuant to which the Underwriters have agreed to purchase, on a 'bought deal' basis, 60,608,000 units of the Company (the 'Units'), at a price of $0.33 per Unit (the 'Offering Price') for gross proceeds of $20,000,640 (the 'Underwritten Offering'). Each Unit will consist of one common share of the Company (a 'Common Share') and one-half of one common share purchase warrant (each whole common share purchase warrant, a 'Warrant'). Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.45 for a period of 24 months following the Closing Date (as defined herein). The Company will grant the Underwriters an option to purchase up to an additional 9,091,200 Units (the 'Underwriter Option Units' and together with the Units, the 'Offered Securities') to cover over-allotments, if any, and for market stabilization purposes at a price of $0.33 per Underwriter Option Unit for additional gross proceeds of up to $3,000,096 (the 'Underwriter Option' and together with the Underwritten Offering, the 'Offering'), exercisable in whole or in part, at any time on or prior to the date that is 30 days following the Closing Date (as defined herein). The net proceeds of the Offering will be used to advance its Black Pine Oxide Gold Project, as well as for working capital and general corporate purposes. The Units will be offered by way of a prospectus supplement to purchasers in each of the provinces and territories of Canada (other than Québec) and may also be offered by way of private placement in the United States and such other jurisdictions as agreed between the parties. The Offering is expected to close on or about April 22, 2025 (the 'Closing Date') and is subject to the Company receiving all necessary regulatory approvals. The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the 'U.S. Securities Act') or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. ABOUT LIBERTY GOLD Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. The Company is advancing the Black Pine Project in southeastern Idaho, a past-producing, Carlin-style gold system with a large, growing resource and strong economic potential. The Company is also actively de-risking and expanding the Goldstrike Project in southwestern Utah, a past-producing oxide gold system, which now includes the newly staked Antimony Ridge Prospect. Antimony Ridge presents an opportunity for additional resource expansion through ongoing trenching and sampling programs. For more information, visit All statements in this press release, other than statements of historical fact, are 'forward-looking information' with respect to Liberty Gold within the meaning of applicable securities laws. Forward-looking information is often, but not always, identified by the use of words such as 'intends', 'seek', 'anticipate', 'plan', 'continue', 'planned', 'expect', 'project', 'predict', 'potential', 'targeting', 'intends', 'believe', 'potential', and similar expressions, or describes a 'goal', or variation of such words and phrases or state that certain actions, events or results 'may', 'should', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct. Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks that the Offering will not close on the anticipated timeline and terms, risks that the Company will not use the net proceeds of the Offering as anticipated, and risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company's mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 25, 2025 in the section entitled 'Risk Factors', under Liberty Gold's SEDAR+ profile at Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. SOURCE Liberty Gold Corp.
Yahoo
14-04-2025
- Business
- Yahoo
Liberty Gold to spin out specialty metals unit as new US-focused company
Canadian miner Liberty Gold has announced plans to spin out its wholly owned subsidiary, which currently holds the Goldstrike Project and Antimony Ridge discovery, into a new company named Specialty American Metals. This move aims to create two focused entities, with Liberty Gold concentrating on its Black Pine Oxide gold project in Idaho. Specialty American will focus on US-based specialty metals, led by the Antimony Ridge discovery at the Goldstrike Project in Utah. The proposed spin-out is structured through a plan of arrangement between Liberty Gold and Specialty American, pending customary approvals such as shareholder, regulatory and court consent. Under the planned arrangement, Liberty Gold shareholders will receive a portion of Specialty American's common shares, with the distribution ratio to be established later. Shareholders of Liberty Gold will have equity in both Liberty Gold and Specialty American upon completion of the arrangement. Additionally, Liberty Gold will maintain a stake in Specialty American in return for its previous investment in the Goldstrike Project. Liberty Gold's CEO and director Cal Everett and director Greg Etter have agreed to join Specialty American's board, and suitable independent candidates were identified for the remaining positions. Everett said: "The spin-out of the Antimony Ridge discovery from Liberty Gold into Specialty American Metals will provide a new vehicle for shareholders that will be dedicated to unlocking the value potential of Antimony Ridge and is well positioned to pursue further growth transactions in the specialty metals space in the US.' Russell Starr will become the CEO of Specialty American, Liberty Gold's vice-president of Exploration Peter Shabestari will join as president and Liberty Gold's Joanna Bailey will continue as CFO. Liberty Gold achieved key permitting milestones for the Black Pine project in November 2024. "Liberty Gold to spin out specialty metals unit as new US-focused company" 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.
