Latest news with #TerraMetals
Yahoo
8 hours ago
- Business
- Yahoo
Terra Metals Inc. and Lunda Resources Confirm 96.5% Copper Recovery and Solar-Powered Green Production at Kalaba Project
CHARLOTTE, N.C. and LUSAKA, Zambia, June 09, 2025 (GLOBE NEWSWIRE) -- Terra Metals Inc., in partnership with its Zambian subsidiary Lunda Resources Ltd., is proud to announce a major metallurgical breakthrough at the Kalaba Copper Project in Northwestern Zambia. Independent testing conducted by Dr. Yotamu Hara of YCS Sustainable Solutions Ltd. confirms flotation recoveries exceeding 96.5%, with concentrate grades of 26.91% Cu—a remarkable result for oxide-dominant ore. Technical Highlights: 96.52% cumulative copper recovery using flotation (see p. 30 of Hara Report), with sulphide concentrates at 26.91% Cu and oxide concentrates at 4.31% Cu. Flotation made possible through advanced chemistry, particularly the use of CMC depressants to manage high talc content (up to 54%), previously considered a major processing barrier. The ore's upgrade potential allows for low-cost leaching via solvent extraction, positioning Kalaba among Africa's lowest-cost green copper producers. An NI 43-101-compliant resource estimate is expected to be released before the end of July 2025. A Model for Green Critical Minerals: Full environmental clearance has been granted by ZEMA (Zambia Environmental Management Agency). A 5 MW solar energy facility has been completed and approved, with plans to expand to 100 MW—enabling carbon-neutral production of copper and cobalt. Terra Metals and its partners will become Zambia's first large-scale producers of green critical metals, powered almost entirely by solar energy. Traditional & Community Support: Terra Metals acknowledges the tremendous support of His Royal Highness Senior Chief Sailunga and Chief Ntambu of the Lunda people. Their leadership and collaboration have played a vital role in advancing the Kalaba Project with integrity and respect for local communities. Regional Upside: In addition to Kalaba, the company holds a large-scale exploration license through Central Africa Renewable Energy, covering a prospective copper-cobalt zone immediately south of Ivanhoe's world-class Kamoa-Kakula Mine in the DRC Copperbelt. Chairman's Statement: 'This isn't just a technical success—it's a declaration that Zambia can lead in responsible, solar-powered production of the world's most critical minerals. Kalaba is proof that innovation, sustainability, and community partnership can deliver real value.'— Mumena Mushinge, Chairman, Terra Metals Inc. and Lunda Resources. Next Milestones: NI 43-101 Report expected before July 31, 2025 240TPH concentrator commissioning in September 2025 Solar expansion to 100 MW Phase 2 exploration and geophysics at DRC-bordering tenement ⸻ ABOUT TERRA METALS INC. Terra Metals Inc. is a Delaware-based mineral development company focused on securing high-impact, ESG- compliant critical mineral assets across Africa for delivery to U.S. and allied markets. MEDIA CONTACTS:Terra Metals IR@ +1 (980) 349-3883Website: Construction of 240 TPH Flotation Plant at Kalaba Mine A photo accompanying this announcement is available at:
Associated Press
27-05-2025
- Business
- Associated Press
WOGC and TMI-Delaware agree Definitive Share Purchase Agreement
CALGARY, AB / ACCESS Newswire / May 26, 2025 / Waskahigan Oil & Gas Corp (CSE:WOGC) ('WOGC') wishes to announce that this week (effective May 16, 2025), it has entered into a definitive share purchase agreement ('SPA') with Terra Metals Inc (a Delaware corporation)('TMI-Del'), Terra Metals Limited (a Zambian corporation)('TMI-Zambia')(subsidiary of TMI-Del), Lunda Resources Limited (a Zambian corporation)('Lunda') (formerly known as Zamsort Limited)(a subsidiary of TMI-Zambia), Central African Renewable Energy Corporation Limited ('CARE')(a Zambian corporation)(a subsidiary of TMI-Zambia), Mumena Mushinge ('TMI Vendor') and Brian Chisala ('TMI Vendor')(TMI-Del, TMI-Zambia, Lunda, CARE and the TMI Vendor(s) are collectively referred to as the 'TMI-Del Parties'). WOGC will acquire all of the shares of TMI-Del from the TMI Vendors. The transaction shall be a reverse takeover ('WOGC RTO'). Prior to closing WOGC will: (a) issue a share dividend of approximately 520,000 WOGC common shares to WOGC registered and NOBO shareholders who hold less than 4,000 shares; (b) consolidate its common shares on a four for one basis; (c) effect a name change; and (d) complete a spinout of Fox Creek Energy Ltd. ('FCE') by plan of arrangement. As consideration for the shares of TMI-Del, WOGC will issue up to 42,160,000 post-consolidated shares at a deemed price of $0.50 per share ($21,080,000 Cdn). The purchase price was to include 100% of the shares of TMI-Del (which would own 100% of TMI-Zambia, Lunda and CARE at the time of closing)(subject to dilution by virtue of a joint venture agreement which entitles a third party (Metalex Commodities Inc.) to acquire up to 67% of Lunda and CARE by investing up to $102,000,000 US in a joint venture). The assets of Lunda consist of: (a) Zambia Small Scale Mining Licence No. 8248-HQ-SML; and (b) Zambia Small Scale Mining Licence No. 34040-HQ-SML ('Kalaba Copper Mine'). The assets of CARE at the closing of the RTO will be Zambia Large Scale Exploration Licence No. 27037-HQ-LEL 'CARE Mineral Claim'). Zambia Large Scale Exploration Licence No. 31190-HQ-LEL will be transferred by CARE to Lunda pre closing. The 200MW Solar Power Project Feasibility Rights in Kawambwa District, Zambia's Northern Province will be sold by CARE pre closing to a non arms length party. The purchase shall not include the shares of two subsidiaries of TMI-Zambia, Cupriferous Resources Limited (Zambia) and Alliance Limited (Zambia), which will be sold pre closing. The purchase price payable by WOGC to the Vendors for the TMI-Del securities shall be $21,080,000 CDN (15,500,000 USD) (the 'Purchase Price') and shall be satisfied as follows: (a) $6,919,300 by issuance of 13,838,600 post 4:1 consolidation WOGC Shares at $0.50 per WOGC Share; and (b) $14,160,700 by the reservation and possible future issuance of 28,321,400 post 4:1 consolidation WOGC Shares (1 share issued for every $0.20 CDN gross revenue or equity or loan capital loan (provided proceeds used to advance the Kalaba Copper Mine or CARE Mineral Claim or other resulting issuer property) invested in TMI-Del or any subsidiary of TMI-Del (including the Lunda - Kalaba Copper Mine or CARE Mineral Claim) post January 1, 2025) (the 'Performance Shares'). The SPA is subject to conditions including: (a) due diligence by May 31, 2025; (b) CSE listing approval; (c) CSE listing application filed by June 15, 2025; (d) completion of all proposed transactions by September 15, 2025; and (e) completion of the Plan of Arrangement dated January 1, 2023 with FCE and Odaat Oil Corp ('Odaat'), whereby WOGC shall dividend the shares of FCE to the shareholders of WOGC (spinout of FCE) leaving WOGC with no assets and no liabilities. The shareholders of WOGC approved the transaction at the Annual General and Special Meeting of Shareholders on December 12, 2024. For further information, please contact: Gregory J. Leia, President and CEO Waskahigan Oil & Gas Corp. Suite 203 - 221 - 10th Avenue SE Calgary Alberta T2G 0V9 T: (403) 870 0091 Email: [email protected] The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release. SOURCE: Waskahigan Oil & Gas Corp press release
Yahoo
27-05-2025
- Business
- Yahoo
Special Meeting of Shareholders June 4, 2025 - Notice of Court Application June 6, 2025
CALGARY AB / / May 26, 2025 / Waskahigan Oil & Gas Corp (WOGC-CSE) ("WOGC") wishes to announce that it will hold a special meeting ("Meeting") of the shareholders of WOGC at 7:00am on June 4, 2025. The fourfold purpose of the Meeting is set out below. Recent events have impacted the go forward plans of WOGC. Background: WOGC has shareholder and court approval of a plan of arrangement to spin out a wholly owned subsidiary Fox Creek Energy Ltd. ("FCE") and its subsidiary Odaat Oil Corp ("Odaat"). Recent Events: First, prior to implementation of the plan of arrangement, Odaat sold substantially all of its oil and gas assets by agreement dated February 28, 2025. The agreement is subject to the approval of the Alberta Energy Regulator. Assuming approval is obtained, Odaat intends to: (a) complete it statutory abandonment and remediation obligations for assets not sold and after satisfaction of debts to distribute the net sale proceeds to shareholders leaving no assets and no liabilities in WOGC, FCE and Odaat. Second, WOGC has executed a definitive agreement to acquire the shares of Terra Metals Inc. (Delaware corp)(see press release dated May 26, 2025) which will result in a reverse takeover transaction ("WOGC RTO"). Third, FCE has received non-binding expressions of interest to enter into reverse takeover ("FCE RTO") transactions to close before the closing of the WOGC RTO. One of the conditions is that the shares of Odaat be sold prior to the closing of the FCE RTO. The shares of Odaat may have to be sold prior to the resolution of all debts and assets in Odaat. A mechanism has been developed to ensure existing shareholders receive the benefits of the assets in Odaat post liquidation. Fourth, because of the uncertainty in closing the WOGC and/or FCE RTO transactions and the high cost of continuous disclosure (especially audit costs for fiscal year end December 31, 2025), WOGC is seeking shareholder and court approval to take WOGC and/or FCE private by December 31, 2025 if the WOGC RTO and/or the FCE RTO transactions do not close. The purpose of the Meeting is fourfold: 1) To approve by special resolution the Plan of Arrangement Amending Agreement #2 dated May 1, 2025 (to delete paragraph 5.1(k) of the Arrangement Agreement requiring concurrent filing of the Articles of Arrangement and the closing of the WOGC RTO); 2) To approve by special resolution and by majority of the minority (if necessary), the going private transaction for WOGC, if by December 20 2025, WOGC has not completed a reverse takeover. The going private transaction shall consist of: The Articles of Incorporation of WOGC would be amended to create two new classes of shares: (i) WOGC Class "A" Redeemable Preferred Shares with a redemption price of $0.00001 per share; and (ii) WOGC Class "A" common shares which would rank pari passu with the WOGC common shares without par value; WOGC would be delisted from the Canadian Securities Exchange; The existing WOGC common shares would be converted into WOGC Class "A" Redeemable Preferred Shares; The WOGC Class "A" Redeemable shares would be redeemed; WOGC would be wound up when existing debts are paid or satisfied with any surplus being dividended to the shareholders of WOGC; Gregory J. Leia would subscribe for 100 WOGC Class "A" common shares at $1.00 per share; WOGC would cease to be a reporting issuer in Alberta, British Columbia and Ontario The board of directors would have the discretion not to implement the going private transaction 3) To approve by special resolution and by majority of the minority (if necessary) the going private transaction for FCE, if by December 20 2025, FCE has not completed a reverse takeover. The going private transaction shall consist of: The Articles of Incorporation of FCE would be amended to create two new classes of shares: (i) FCE Class "A" Redeemable Preferred Shares with a redemption price of $0.00001 per share; and (ii) FCE Class "A" common shares which would rank pari passu with the FCE common shares without par value; The existing FCE common shares would be converted into FCE Class "A" Redeemable Preferred Shares; The FCE Class "A" Redeemable shares would be redeemed; FCE would cease to be a reporting issuer in Alberta and British Columbia; FCE would be wound up when existing debts are paid or satisfied; Gregory J. Leia would subscribe for 100 FCE Class "A" common shares at $1.00 per share. The board of directors would have the discretion not to implement the going private transaction 4) To approve by majority of the minority, a resolution approving the sale of the shares of Odaat to Gregory J. Leia (President/director) for $1.00 and an undertaking to dividend any surplus funds to WOGC shareholders upon liquidation (after payment of reasonable fees and disbursements). Two director/officers hold approx 70% of the issued and outstanding shares have voted proxies in favour of the matters to come before the Meeting. Shareholders will be provided dissent rights. Assuming the shareholders approve the above, WOGC has scheduled a court application before Justice C. Jones at 2:00pm on Friday June 6, 2025 at the Court House in Calgary. The application is a virtual hearing. Shareholders who wish to participate must notify Wolff Leia, Barristers and Solicitors (Attention:Gregory J. Leia) 24 hours prior to the application. WOGC has filed the following documents on : (a) Notice of Meeting dated May 5, 2025; (b) Management Information Circular dated May 5, 2025; and (c) form of proxy (collectively the "Documents"). The same information will be available on the CSE website at WOGC will deliver by means (which may include electronic means) through Broadridge and by regular postal service a copy of the Documents to each registered holder or beneficial holder. A request is to be made by email to Gregory J. Leia at gleia@ or otherwise by delivery to the corporate office at the address set out below. Proxies are to be sent by email to gleia@ For further information, please contact: Gregory J. Leia, President and CEO Waskahigan Oil & Gas 203 - 221 - 10 th Avenue SECalgary Alberta T2G 0V9T: (403) 870 0091gleia@ SOURCE: Waskahigan Oil & Gas Corp View the original press release on ACCESS Newswire
Yahoo
27-05-2025
- Business
- Yahoo
WOGC and TMI-Delaware agree Definitive Share Purchase Agreement
CALGARY, AB / / May 26, 2025 / Waskahigan Oil & Gas Corp (CSE:WOGC) ("WOGC") wishes to announce that this week (effective May 16, 2025), it has entered into a definitive share purchase agreement ("SPA") with Terra Metals Inc (a Delaware corporation)("TMI-Del"), Terra Metals Limited (a Zambian corporation)("TMI-Zambia")(subsidiary of TMI-Del), Lunda Resources Limited (a Zambian corporation)("Lunda") (formerly known as Zamsort Limited)(a subsidiary of TMI-Zambia), Central African Renewable Energy Corporation Limited ("CARE")(a Zambian corporation)(a subsidiary of TMI-Zambia), Mumena Mushinge ("TMI Vendor") and Brian Chisala ("TMI Vendor")(TMI-Del, TMI-Zambia, Lunda, CARE and the TMI Vendor(s) are collectively referred to as the "TMI-Del Parties"). WOGC will acquire all of the shares of TMI-Del from the TMI Vendors. The transaction shall be a reverse takeover ("WOGC RTO"). Prior to closing WOGC will: (a) issue a share dividend of approximately 520,000 WOGC common shares to WOGC registered and NOBO shareholders who hold less than 4,000 shares; (b) consolidate its common shares on a four for one basis; (c) effect a name change; and (d) complete a spinout of Fox Creek Energy Ltd. ("FCE") by plan of arrangement. As consideration for the shares of TMI-Del, WOGC will issue up to 42,160,000 post-consolidated shares at a deemed price of $0.50 per share ($21,080,000 Cdn). The purchase price was to include 100% of the shares of TMI-Del (which would own 100% of TMI-Zambia, Lunda and CARE at the time of closing)(subject to dilution by virtue of a joint venture agreement which entitles a third party (Metalex Commodities Inc.) to acquire up to 67% of Lunda and CARE by investing up to $102,000,000 US in a joint venture). The assets of Lunda consist of: (a) Zambia Small Scale Mining Licence No. 8248-HQ-SML; and (b) Zambia Small Scale Mining Licence No. 34040-HQ-SML ("Kalaba Copper Mine"). The assets of CARE at the closing of the RTO will be Zambia Large Scale Exploration Licence No. 27037-HQ-LEL "CARE Mineral Claim"). Zambia Large Scale Exploration Licence No. 31190-HQ-LEL will be transferred by CARE to Lunda pre closing. The 200MW Solar Power Project Feasibility Rights in Kawambwa District, Zambia's Northern Province will be sold by CARE pre closing to a non arms length party. The purchase shall not include the shares of two subsidiaries of TMI-Zambia, Cupriferous Resources Limited (Zambia) and Alliance Limited (Zambia), which will be sold pre closing. The purchase price payable by WOGC to the Vendors for the TMI-Del securities shall be $21,080,000 CDN (15,500,000 USD) (the "Purchase Price") and shall be satisfied as follows: (a) $6,919,300 by issuance of 13,838,600 post 4:1 consolidation WOGC Shares at $0.50 per WOGC Share; and (b) $14,160,700 by the reservation and possible future issuance of 28,321,400 post 4:1 consolidation WOGC Shares (1 share issued for every $0.20 CDN gross revenue or equity or loan capital loan (provided proceeds used to advance the Kalaba Copper Mine or CARE Mineral Claim or other resulting issuer property) invested in TMI-Del or any subsidiary of TMI-Del (including the Lunda - Kalaba Copper Mine or CARE Mineral Claim) post January 1, 2025) (the "Performance Shares"). The SPA is subject to conditions including: (a) due diligence by May 31, 2025; (b) CSE listing approval; (c) CSE listing application filed by June 15, 2025; (d) completion of all proposed transactions by September 15, 2025; and (e) completion of the Plan of Arrangement dated January 1, 2023 with FCE and Odaat Oil Corp ("Odaat"), whereby WOGC shall dividend the shares of FCE to the shareholders of WOGC (spinout of FCE) leaving WOGC with no assets and no liabilities. The shareholders of WOGC approved the transaction at the Annual General and Special Meeting of Shareholders on December 12, 2024. For further information, please contact:Gregory J. Leia, President and CEO Waskahigan Oil & Gas 203 - 221 - 10th Avenue SECalgary Alberta T2G 0V9T: (403) 870 0091Email: gleia@ The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release. SOURCE: Waskahigan Oil & Gas Corp View the original press release on ACCESS Newswire
