Latest news with #Vanadium
Yahoo
4 days ago
- Business
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Western Uranium & Vanadium Corp.: 2025 Mid-Year Update
Toronto, Ontario and Nucla, Colorado, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) ('Western' or the 'Company') filed its Q2 2025 financial statements yesterday on SEDAR+ and EDGAR. The Company is pleased to provide the following 2025 Mid-Year Update. Uranium Markets and StrategyThe uranium term price has remained highly stable since August 2024 when it first reached $80/lb; it finished July 2025 at $81/lb. The uranium spot market has experienced more volatility, peaking at $106/lb in January 2024, and declining into a 2025 trading range of $64/lb to $78/lb. In 2024, Western responded to favorable market conditions by aggressively ramping up operations and expanding production capacity primarily at its 100% owned Sunday Mine Complex (SMC). While uranium spot prices weakened late in the year, we had anticipated a recovery in 2025, supported by the U.S. ban on Russian uranium (effective 2028) and the Trump administration's strong backing of nuclear energy and domestic mining. The Company's interpretation of market signals was that uranium markets would stabilize at replacement price levels. However, given recent turbulence in global commodity and financial markets, along with geopolitical uncertainties, we have shifted to a more conservative stance, increasingly focusing on cost control and strategic discipline. Ore Purchase AgreementIn mid-June, Western began delivering mined material from the Sunday Mine Complex to the White Mesa Mill. During June and July, approximately 792 tons were delivered under the Ore Purchase Agreement, which was announced in a April 14, 2025 news release. The first ore lot is expected to close in August, with provisional payment anticipated within 30 days thereafter. Most of the uranium-bearing feedstock originated from historically stockpiled material, supplemented by new production from the SMC. All deliveries were completed by Western employees utilizing Company trucks and equipment. Processing Plants UpdateWe are prioritizing the development of the Mustang Mineral Processing Plant (Mustang), formerly known as the Pinon Ridge Mill site, in Colorado due to its close proximity to the SMC and lower hauling costs in comparison to the Maverick Minerals Processing Plant in Utah. Baseline data collection at Mustang began in January 2025, and the compilation of two quarterly reports have been completed. The results for both water and air quality are consistent with prior data collected by the former owners. Third quarter data collection is underway, and two additional quarters are planned. Based on the current schedule, the fourth quarter of data collection will conclude in time to begin preparing the radioactive materials license application in Q1 2026. Mustang's completion is critical for in-house yellowcake production. SMC Drilling Program UpdateThe first phase of the horizontal underground drilling program has now been successfully completed. The program employed rigorous quality control, including twinning holes, assaying, and drilling core samples. In addition to the 20,366 feet of drilling previously reported, an additional 1,655 feet of core drilling was completed. Half of these core holes targeted mineralized faces identified during underground development, while the other half confirmed previously identified ore zones. Geotechnical and geological logging also mapped major faults and weak ground conditions. The program confirmed five mineralized pockets in the GMG drift and outlined the deposit's overall shape and trend. The horizontal drilling program defined mineralized deposits but did not establish deposit thickness. A second program phase would necessitate surface/vertical drilling to capture thickness data to update geologic resource estimates. SMC Project UpdateThe development of the SMC continues to be productive. This year, Western extended work in three areas of the GMG deposit and advanced the Leonard and Clark decline. While additional rehabilitation could further expand capacity, current development supports the potential for full production. This was a staffing and capital intensive project because the mining team was working deep underground across four mines. The Company plans to continue, on a smaller scale, to rehabilitate additional SMC areas with defined uranium mineralization. Having successfully completed the initiatives at the SMC, we gradually reduced staffing through attrition, consultant cutbacks, selective layoffs, and redeployment. These efficiency measures have been taken to align the workforce with Company capitalization levels. Additional ProjectsLooking forward, Management is considering opportunities across our property portfolio to increase production capacity that are less capital intensive. These include re-permitting the Topaz Mine, rehabilitating the Sage Mine, reassessing the Van 4 Mine for decline/portal access rather than utilizing the previously reclaimed shaft, and additional development of the Rimrock JV mines. A project to advance permitting of the San Rafael Project is underway with the next step being the installation of monitor wells. Progress has been made on each of these initiatives. Opportunities to acquire additional uranium properties are also being considered. Strategy SummaryThis conservative approach has been adopted to reduce operational spending in the near-term. The intent is to focus on the initiatives that bring the most long-term value to the Company: constructing the proposed Mustang mill and the development of nearby mines to supply this mill. Western's team remains confident that uranium prices will become reflective of replacement cost levels and strong underlying market fundamentals. While we are focusing on preparing more of our mineral properties for active mining operations, we intend to utilize this conservative approach until there is a significant and sustainable recovery in uranium markets. About Western Uranium & Vanadium Uranium & Vanadium Corp. is developing high-grade uranium and vanadium production at its Sunday Mine Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also includes conventional projects in Colorado and Utah. The Mustang Mineral Processing Plant is being licensed and developed for mined material recovery and will incorporate kinetic separation to optimize economics. Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes 'forward-looking information' or 'forward-looking statements' within the meaning of applicable securities laws (collectively, 'forward-looking statements'). Statements of that nature include statements relating to, or that are dependent upon: the Company's expectations, estimates and projections regarding the Offering and exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company's business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict. Please refer to the Company's most recent Management's Discussion and Analysis, as well as its other filings at and/or for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company's forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations. FOR ADDITIONAL INFORMATION, PLEASE CONTACT:George Glasier President and CEO 970-864-2125 gglasier@ Robert KleinChief Financial Officer908-872-7686rklein@ in to access your portfolio
Yahoo
5 days ago
- Business
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CleanTech Announces Intention to Amend Option Terms
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2025) - CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) (FSE: C9R) ("CleanTech" or the "Company") announces that it proposes to reprice (the "Option Repricing") an aggregate of 9,090,000 incentive stock options of the Company (the "Options"). The Company intends to adjust the exercise price of 3,050,000 Options from $0.20 to $0.06, 4,030,000 Options from $0.18 to $0.06, 880,000 Options from $0.135 to $0.06, 100,000 Options from $0.16 to $0.06 and 1,030,000 Options from $0.10 to $0.06. The new exercise price in respect of the Options is set at the closing price of the common shares of the Company on August 13, 2025. An aggregate of 8,230,000 Options subject to the Option Repricing are held by insiders of the Company (the "Insider Options"). The completion of the Option Repricing is subject to, among other things, the approval of the TSX Venture Exchange ("TSXV"). Additionally, in accordance with the policies of the TSXV, repricing of the Insider Options is subject to disinterested shareholder approval in accordance with TSXV Policy 4.4 - Security Based Compensation. The purpose of the Option Repricing is primarily to encourage the early exercise of such Options. Related Party Transaction Certain of the directors, officers and other related parties of the Company hold an aggregate of 8,230,000 Options subject to the Option Repricing. Accordingly, the repricing of Options held by related parties of the Company is expected to constitute a "related party transaction" of the Company under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). It is expected that pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, the Company will be exempt from obtaining a formal valuation and minority approval of the Company's shareholders as the fair market value of repriced Options held by related parties of the Company is expected to be below 25% of the Company's market capitalization as determined in accordance with MI 61-101. A material change report including details with respect to the related party transaction may be filed less than 21 days prior to the closing of the Option Repricing as the Company wishes to complete such transactions in a timely manner. About CleanTech Vanadium Mining Corp. CleanTech is a mining company focused on critical mineral resources in the USA. The Company has an option to acquire 7,180 acres of mineral rights with historic Fluorspar resources across multiple projects in Illinois-Kentucky Fluorspar district. CleanTech also owns a 100% interest in the Gibellini Vanadium Mine Project in Nevada. Further information on CleanTech can be found at ON BEHALF OF THE BOARD "John Lee" Chief Executive Officer For more information about CleanTech, please contact: Phone: 1.877.664.2535Email: info@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
Yahoo
02-07-2025
- Business
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Metals One PLC Announces Completion of Uravan Uranium Project Acquisition
Completion of Acquisition - Uravan Uranium-Vanadium Project, Colorado & Directorate Change Strategic U.S. uranium-vanadium project in the prolific Uravan Mineral Belt formally acquired LONDON, GB / / July 2, 2025 / Metals One Plc (AIM:MET1), a minerals exploration and development company, is pleased to announce the completion of its acquisition of the Uravan Uranium-Vanadium Project ("Uravan" or the "Project") located in Montrose County, Colorado, United States. The acquisition of the 59 unpatented claims with a 10-year exploration lease (as originally announced on 24 April 2025) secures a foothold in one of America's most historically productive uranium-vanadium districts and supports the Company's expanding critical minerals portfolio. Highlights Strategic U.S. Asset Secured: Metals One has completed the acquisition of 59 unpatented claims (the "UV 1-59" claim block) and corresponding 10-year exploration lease having been issued, securing a significant land position in Colorado's Uravan Mineral Belt - a premier U.S. uranium-vanadium mining district Transaction Terms: Total consideration for the acquisition is US$50,000 in cash and the issuance of 500,000 new ordinary shares in Metals One Uranium-Vanadium Potential: Historical surface sampling returned high-grade results of up to 2.23% U₃O₈ (22,280 ppm uranium) and strong vanadium content in carnotite mineralisation Exploration Underway: Phase 1 exploration, including geophysical surveys, mapping, and sampling, is ongoing to validate historical data and provide a modern geologic and geophysical baseline ahead of a potential Phase 2 drilling programme later in 2025; rock samples have already been sent for analysis to certified labs in Nevada Project Overview The Uravan Project consists of 59 unpatented mining claims (~490 hectares) situated near the historic Buckhorn Mine within the renowned Uravan Mineral Belt, a district responsible for more than 60 million pounds of uranium and 330 million pounds of vanadium production during the 20th century. The Project targets high-grade carnotite-style mineralisation within the Morrison and Chinle Formations - both recognised hosts of uranium across the Colorado Plateau. The Uravan acquisition enhances Metals One's North American critical minerals portfolio by providing direct exposure to uranium and vanadium - commodities central to the global clean energy transition. Uranium is gaining increased attention amid growing nuclear reactor buildouts and global supply deficits, while vanadium is a key component in long-duration grid energy storage and high-strength steel. The Uravan Mineral Belt offers a dual-commodity advantage in a jurisdiction with legacy infrastructure, an experienced labour base, and growing national focus on domestic uranium sourcing. Consideration Payments The total consideration for the acquisition is US$50,000 in cash and the issuance of 500,000 new ordinary shares in Metals One ("Consideration Shares"), representing half of the aggregate consideration due for the acquisitions of both Uravan and the Squaw Creek Uranium Project, Wyoming, with the latter also expected to complete soon. As announced on 24 April 2025, the Consideration Shares are being issued at a value per share equivalent to a 5% discount to the five-day volume weighted average price per ordinary share in the Company for the five days immediately preceding the signing of the term sheet. Accordingly, application will shortly be made for admission of the Consideration Shares to trading on AIM and a further announcement will be made confirming this in due course. Ongoing Exploration Programme As previously announced in updates released on 22 May, 4 June and 25 June 2025, the Company's Phase 1 exploration programme at Uravan is advancing, with the following key workstreams in progress: Geophysical Surveys: Over 30 km of ground-based radiometric surveys completed using RS-125 scintillometers Structural Mapping and Sampling: Systematic mapping of adits, faults, and historic workings alongside surface sampling of mineralised exposures Geochemical Analysis: Rock samples submitted to American Assay Laboratories in Nevada to determine uranium and vanadium concentrations The Company also continues to assess the potential of a deeper mineralised horizon within the Chinle Formation, located ~1,200 feet below surface, which will be evaluated in Phase 2 exploration planning. Next Steps The results from Phase 1 will be used to define potential drill targets and advance the Company's understanding of the Project's mineral systems. A Phase 2 programme is anticipated for late 2025, subject to ongoing results. Directorate Change Metals One also announces that Winton Willesee, Non-Executive Director, has stepped down from the Board with immediate effect due to personal reasons. The Company has begun searching for an additional independent Non-Executive Director with the appropriate skillset and experience to join the Board. Craig Moulton, Chairman of Metals One, commented: "The formal acquisition of the Uravan claim block marks a key step in Metals One's expansion into the U.S. critical minerals sector. This Project positions us in one of the most historically productive uranium-vanadium regions in the United States, with evidence of high grades and a geological setting ideally suited to modern exploration. With Phase 1 fieldwork already underway, we look forward to advancing Uravan alongside our broader portfolio of energy transition assets, with the ultimate goal of contributing to U.S. domestic mineral sourcing and energy transition initiatives. "On behalf of the Board, I would like to thank Winton Willesee for his efforts over the last two years during which he provided strong support and wise counsel from our 2023 IPO through to our recent portfolio expansion." Enquiries: Metals One Plc Jonathan Owen, Chief Executive Officer Craig Moulton, Chairman via Vigo Consulting Beaumont Cornish Limited (Nominated Adviser) James Biddle / Roland Cornish +44 (0)20 7628 3396 Capital Plus Partners Limited (Joint Broker) Jonathan Critchley +44 (0)20 3821 6169 Vigo Consulting (UK Investor Relations) Ben Simons / Kendall Hill / Anna Stacey +44 (0)20 7390 0230 Fairfax Partners Inc (North America Investor Relations) connect@ +1 604 366 6277 About Metals One The race for critical minerals is on. Metals One is pursuing a critical minerals and gold exploration and M&A strategy, in low-risk jurisdictions, underpinned by the Western World's urgent need for reliably and responsibly sourced raw materials, and record high gold prices. In addition to gold, our commodity exposure* includes copper, nickel, cobalt, zinc, uranium, vanadium, and platinum group metals - all of which are vital to the clean energy transition. Metals One's most advanced project is the Black Schist Project in Finland with a 57.1 Mt nickel-copper-cobalt-zinc JORC Inferred Resource adjacent to one of Europe's largest nickel producers. Our project portfolio* spans Finland, Norway, and the USA. Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1). *Includes projects for which acquisition terms have been agreed Follow us on social media: LinkedIn: X: Subscribe to our news alert service on the Investors page of our website at: Market Abuse Regulation (MAR) Disclosure The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Nominated Adviser Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Metals One PLC View the original press release on ACCESS Newswire 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
01-07-2025
- Business
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Western Uranium & Vanadium Announces Results of AGM and Appoints New Transfer Agent
Toronto, Ontario and Nucla, Colorado, June 30, 2025 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) ('Western' or the 'Company') is pleased to announce the results of the Company's Annual General and Special Meeting of shareholders (the 'Meeting') held in Nucla, Colorado on June 27, 2025. Proxy votes were cast for common shares representing approximately 51% of the issued and outstanding common shares of the Company as at the record date for the Meeting. Each of the other matters put forward before shareholders for consideration and approval at the Meeting, as described in the Company's management information circular dated May 22, 2025, was duly approved by the requisite number of votes. Re-Election of DirectorsAt the Meeting, the shareholders re-elected all of the directors proposed by management of the Company, namely, George Glasier, Bryan Murphy, Andrew Wilder and Michael Skutezky. Re-Appointment of AuditorThe shareholders re-appointed MNP LLP as auditor of the Company for the ensuing year and authorized the board of the Company to fix the remuneration of the auditors. Re-Appointment of OfficersSubsequent to the Meeting, the following management re-appointments were confirmed for the ensuing year: George Glasier, President and Chief Executive Officer; Robert Klein, Chief Financial Officer; Michael Rutter, Chief Operating Officer; and Denis Frawley, Corporate Secretary. The newly-elected Board re-appointed the following chairs: Bryan Murphy as Chairman of the Board; Andrew Wilder as Chairman of the Audit Committee; and Michael Skutezky as Chairman of the Governance, Nominating and Compensation Committee. Each of the Audit Committee Governance, and the Governance, Nominating and Compensation Committee are comprised of three independent directors, namely Bryan Murphy, Andrew Wilder, and Michael Skutezky. Appointment of New Transfer AgentWestern's announces that it has appointed Odyssey Trust Company ("Odyssey") as the registrar and transfer agent for the Company's common shares replacing Capital Transfer Agency ULC ('CTA'). There was no change to the CUSIP number of Western's common sharesas a result of the change of registrar and transfer agent. Going forward, inquiries and correspondence relating to shareholders' records should be directed to Odyssey at In addition, Odyssey has replaced CTA as rights agent under the shareholder rights plan agreement of the Company dated May 24, 2023. Shareholders need not take action in respect of the change in transfer agent and rights Western Uranium & Vanadium Uranium & Vanadium Corp. is ramping-up high-grade uranium and vanadium production at its Sunday Mine Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also includes conventional projects in Colorado and Utah. The Mustang Mineral Processing Site is being licensed and developed for mined material recovery and will incorporate kinetic separation to optimize economics. Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes 'forward-looking information' or 'forward-looking statements' within the meaning of applicable securities laws (collectively, 'forward-looking statements'). Statements of that nature include statements relating to, or that are dependent upon: the Company's expectations, estimates and projections regarding the Offering and exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company's business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict. Please refer to the Company's most recent Management's Discussion and Analysis, as well as its other filings at and/or for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company's forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations. FOR ADDITIONAL INFORMATION, PLEASE CONTACT: George GlasierPresident and CEO 970-864-2125gglasier@ Robert KleinChief Financial Officer908-872-7686rklein@
