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  • Osisko Mining and Gold Fields Announce 50/50 Joint Venture on Windfall Gold Project
    https://ceo.ca/@globenewswire/…ields-announce-5050-joint


    TORONTO, May 02, 2023 (GLOBE NEWSWIRE) -- Osisko Mining Inc. (OSK:TSX. "Osisko" or the "Corporation") is pleased to announce it has concluded a 50/50 joint venture agreement with a subsidiary of Gold Fields Limited ("Gold Fields") for the joint ownership and development of Osisko's Windfall gold project, located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec (the "Transaction").


    Transaction Highlights


    • Gold Fields initial cash payment to Osisko of C$300 million on signing.
    • Gold Fields additional (“Deferred”) cash payment to Osisko of C$300 million on issuance of the applicable permits authorizing the construction, operation and mining of the Windfall Project.
    • Gold Fields to sole fund expenditures for regional exploration up to a maximum of C$75 million, after which regional exploration programs would be proportionately funded by each of Osisko and Gold Fields.
    • In addition to the initial cash payment and the Deferred cash payment, Gold Fields to make two additional separate C$17 million cash payments to Osisko (C$34 million in total, the first on July 31, 2023 and the second on December 31, 2023). These represent reimbursement of items already incurred by Osisko as part of pre-construction spend.
    • Gold Fields and Osisko share all pre-construction costs (provisional budget estimated at C$250 million) and construction costs (feasibility capital expenditure estimated at C$789 million) on a 50/50 basis going forward.
    • Governance arrangements with equal representation in the Partnership from Osisko and Gold Fields, to leverage each party's skillsets.
  • The winner is: Osisko Gold Royalties Ltd.


    Mr. Burzynski continued: “Osisko Mining would like to acknowledge and thank Sean Roosen in particular and the directors of Osisko Gold Royalties Ltd. (“OGR”) for their forward-looking vision in supporting the 2015 re-creation of Osisko Mining - one of the key first investment decisions in OGR’s very innovative and successful “accelerator model” concept to create new high-value negative-cost royalties tied to equity investment in new exploration companies. OGR holds a 2% - 3% NSR royalty on the Windfall area claims and 13% of the undiluted equity in the Corporation.”

  • [Blockierte Grafik: https://mma.prnewswire.com/med…_a_Second_Defin.jpg?w=200]


    Global Atomic Completes a Second Definitive Agreement to Supply Uranium to a Major North American Utility

    https://www.newswire.ca/news-r…an-utility-829702574.html



    TORONTO, May 8, 2023 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announced today that the Company has formalized its June 2022 Letter of Intent by signing a Definitive Agreement with a major North American utility for their procurement of uranium from the Dasa Project. The agreement represents the supply of up to 2.1 million pounds U3O8 within a multi-year delivery window beginning in 2025, representing about 7% of Dasa's annual production over the period with a revenue potential valued in excess of US$110 million in real terms.
    [Blockierte Grafik: https://mma.prnewswire.com/media/2070993/Global_Atomic_Corporation_Global_Atomic_Completes_a_Second_Defin.jpg?w=600]GLO - OTCQX Best 50 (CNW Group/Global Atomic Corporation)In January 2023, the Company formalized a similar agreement with another major North American utility for the procurement of Dasa's uranium, representing the supply of 2.4 million pounds U3O8 over a six-year period commencing in 2025, representing a revenue potential of US$140 million in real terms. In total these two agreements represent revenue potential of over US$250 million.
    Global Atomic President and CEO, Stephen G. Roman commented, "These agreements to supply international electric utilities are important milestones for our Company that provide confirmation to our banks, shareholders and the Government of Niger that we have established a guaranteed revenue stream for Dasa. This quarter we are actively in discussions with other utilities for similar agreements with the pre-production intent of signing sufficient volume to cover Dasa's cost of production."
    About Global Atomic
    Global Atomic Corporation (www.globalatomiccorp.com) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.
    The Company's Uranium Division includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger, the Dasa Project is fully permitted for commercial production. The Phase 1 Feasibility Study for Dasa was filed in December 2021 and estimates yellowcake delivery to utilities to commence in 2025. Mine excavation began in Q1 2022.
    Global Atomic's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc production plant, located in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe, Asia and the United States of America.






  • Global Atomic Updates Dasa's Mineral Resource Estimate

    https://www.newswire.ca/news-r…e-estimate-849540160.html
    [Blockierte Grafik: https://mma.prnewswire.com/media/2081809/Global_Atomic_Corporation_Global_Atomic_Updates_Dasa_s_Mineral_R.jpg?w=400]Figure 1 - Dasa Project longitudinal section based on 2019 Mineral Resource Estimate (CNW Group/Global Atomic Corporation)[Blockierte Grafik: https://mma.prnewswire.com/media/2081810/Global_Atomic_Corporation_Global_Atomic_Updates_Dasa_s_Mineral_R.jpg?w=400]
    Figure 2 - Dasa Project longitudinal section based on 2023 Mineral Resource Estimate (CNW Group/Global Atomic Corporation)




  • Cerrado Gold Issued Preliminary License for Its Monte Do Carmo Project, Brazil


    Company Update


    • Preliminary Licence ("LP") granted to Monte Do Carmo ("MDC") by Tocantins state environmental agency

      • First in three stage licence process to bring the MDC project into production

        • Installation license expected within 90-120 days


    TORONTO, ON / ACCESSWIRE / May 30, 2023 / Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") is pleased to announce that its Monte Do Carmo gold project has received the Preliminary License ("LP") from the Instituto Natureza do Tocantins ("NATURATINS") the state environmental regulatory authority, which has authority to grant state permits.
    The mine permitting process in Tocantins has three stages, the LP, the installation license ("LI"), and finally the license to operate ("LO"). The granting of the LP is an important milestone in the licensing process as it outlines all the basic parameters of the project to be accepted by all parties, including the local community and relevant regulatory bodies. The subsequent installation license allows for the commencement of construction activities for the project. The Company expects to receive the LI within the next 3 to 4 months. The final licence, the LO, is granted upon completion of construction and at commencement of operations.
    Mark Brennan, CEO and Chairman commented "The award of the LP is a significant milestone for the MDC project and reflects the great work done by our Brazilian team and represents a significant endorsement from the community and regulators for the development of the project. As previously announced, discussions for Project Financing are ongoing, and we look forward to the completion of the FS in the coming weeks as we work to bring the Monte Do Carmo project into production. "
    https://www.accesswire.com/757…e-Do-Carmo-Project-Brazil
    https://www.mining.com/cerrado…gold-project-shares-rise/

  • G Mining Ventures Achieves Major ESG Milestone with the Signing of Renewable Power Purchase Agreement for Tocantinzinho Gold Project
    https://www.prnewswire.com/new…ld-project-301839674.html

    • Binding, multi-year, power purchase agreement executed, ensuring low-cost and renewably generated power to completely meet the requirement of the Tocantinzinho Project through commissioning, ramp-up and initial years of commercial production
    • All-in cost of electricity ~25% lower than estimates used in the 2022 Feasibility Study, with fixed energy pricing for 2024, 2025 and 2026
    • Guaranteed supply of certified renewable hydroelectric power, with traceability, in line with GMIN's target of being a low CO2 emission gold producer

    BROSSARD, QC, June 1, 2023 /PRNewswire/ - G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSXV: GMIN) (OTCQX: GMINF) is pleased to announce that it has entered into a power purchase agreement ("PPA") with Companhia Energética de Minas Gerais ("CEMIG") and CEMIG Geração e Transmissão S.A., securing low-cost, 100% renewably generated power for its 100% owned Tocantinzinho Gold Project ("TZ" or the "Project"). TZ is currently under construction in the State of Pará, Brazil and remains on budget and on track for commercial production in H2-2024.
    Louis-Pierre Gignac, President & Chief Executive Officer, commented: "I am very pleased by the major de-risking milestone of entering into this fixed-price PPA with a reliable electricity supplier. The low-cost power generated from renewable hydroelectric sources will ensure that TZ is in the lower quartile of the global gold production curve both in terms of cost and carbon emissions. This is a major step toward safeguarding value for our shareholders and stakeholders alike."

  • Osino Announces Definitive Feasibility Study Results for Twin Hills Gold Project, Namibia US$742m Pre-Tax NPV, 34% IRR, 2.2 Year Payback

    https://mininggrade.com/r/JK7D…v-34-irr-2-2-year-payback
    Highlights:

    • NPV of US$742m (pre-tax) and IRR of 34% at 5% discount rate and US$1750/oz gold price.
    • NPV of US$480m (post-tax) and IRR of 28% at 5% discount rate and US$1750/oz gold price.
    • At spot gold prices (US$1,950/oz) the project generates just under US$1.5bn of net pre-tax cashflows, demonstrating the strong margins, cash generation potential & economics of the project.
    • Overall capital cost of US$365m (incl. US$34m contingency & US$18m capitalised pre-strip) with a payback period of 2.2 years.
    • 13-year Life-of-Mine ("LOM") and 5.0 million tonnes per annum ("mtpa") design processing capacity.
    • LOM gold recovery of 92% utilising conventional 3-stage crushing, ball milling, gravity separation, pre-oxidation and CIL circuit plus filtration & dry-stack tailings deposition.
    • Responsible social and environmental design criteria have been key study elements and have been integral to design and project planning from the outset, contributing considerably to the robustness of the project.


  • [Blockierte Grafik: https://mma.prnewswire.com/med…_Update_on_Site.jpg?w=200]
    G Mining Ventures Provides Update on Site Activities at Tocantinzinho Gold Project


    https://www.prnewswire.com/new…ld-project-301849064.html

    • Project is 30% complete and remains on track and on budget for commercial production in H2-2024
    • Safety remains a priority with over 1,770,063 man-hours worked with no Lost Time Incidents
    • 1,871 employees and contractors currently employed by the Project (94% from within Brazil)
    • Detailed engineering 81% complete with procurement essentially finalized at 97%
    • Project commitments total $302 million (66% of total) tracking in line with Feasibility Study
    • Andrew Storrie appointed General Manager of Tocantinzinho
    • Updated virtual site tour available through VRIFY platform


    [Blockierte Grafik: https://mma.prnewswire.com/media/2099558/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 1 – Mine Infrastructure Area and Process Plant Progress (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099557/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 2 – Tonnes of Material Delivered to Site (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099556/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 3 – Truckloads Delivered to Site (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099555/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 4 – Delivery to Site (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099554/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 5 – TZ Site Construction Overview (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099553/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 6 – Mill Foundation and Monument Installation (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099552/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 7 – Aggregate Plant (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099551/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 8 – Open Pit Mining (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099550/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 9 – Transmission Line Tower Clamping (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099549/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 10 – Site Main Substation Progress (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099548/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Figure 11 – Daily Morning Safety Meeting and Ergonomic Exercises (CNW Group/G Mining Ventures Corp)[Blockierte Grafik: https://mma.prnewswire.com/media/2099547/G_Mining_Ventures_Corp_G_Mining_Ventures_Provides_Update_on_Site.jpg?w=350]Project Development Timeline (CNW Group/G Mining Ventures Corp)




  • Artemis Gold Receives Initial Deposit Under Silver Stream Agreement
    https://www.newswire.ca/news-r…-agreement-856045528.html


    Artemis Gold Announces Optimized Phase 1 Development of Blackwater Mine and US$40M Additional Funding; Updated Phase 1 Capex Now Fully Funded
    https://www.newswire.ca/news-r…lly-funded-802954245.html


    Artemis Gold Announces Approval of Schedule 2 Amendment for Blackwater Mine
    https://www.newswire.ca/news-r…water-mine-871387955.html

  • VARES PROJECT UPDATE HIGHLIGHTS
    78%of total Project construction complete.
    •Lower decline development currently at 606m and upper decline at 550m.Ore to be reached at the end of June.
    •All long lead items ordered and a key project delivery schedule is available below. First concentrate production in November 2023.
    •Construction of 24.5km haul road is on track for completion by Q3 2023.Works on the refurbishment of the rail head and railway line have commenced.
    •Exploration at Rupice continues to deliver outstanding results, planned Mineral Resource Estimate update expected in July2023.
    •Staff headcount increased to 201,contractor headcount totalled 311 at the end of May.
    •A recent video of the Project progress is available:
    https://www.adriaticmetals.com…project-update-june-2023/
    Finance Update
    •Final Project cost estimate is $182m following release of the remaining $10m contingency as costs fully identified.
    •Cash balance at 30 May 2023was $95.7m with $85.1m of capex and exploration outflows expected pre-production.
    •Final Orion debt drawdown of $30m is expected in Q3 2023.
    •The Company remains fully funded to Project completion.
    •92% of capital awarded, pending award or recently quoted.
    •All $ amounts are US dollars.
    https://www.investi.com.au/api…ents/adt/a72dbf74-5f9.pdf

  • GLOBAL ATOMIC PROVIDES DASA PROJECT UPDATE
    https://globalatomiccorp.com/i…oject-Update/default.aspx
    Stephen G. Roman, President & CEO, stated, “The primary question investors ask is regarding the timing of a term sheet for our banking syndicate’s Dasa Project loan facility. While this has been a much longer process than expected, the financing terms are in the final stage of completion, which, upon agreement, will then go to the banks’ Boards for approval prior to announcement to our shareholders.”
    “We continue to make significant progress at the Dasa Project, having now put in place a mining and support team of over 200 people, the majority of which are local Nigeriens, comprised of both skilled workers, with extensive uranium mining experience, and young workers who are being trained in apprenticeship roles. The ramp is nearing the top of the ore body (see figure 1 below) and earthworks at the plant site are preparing the location for civil works. We remain on schedule to produce Yellowcake for delivery to nuclear utilities in early 2025.”
    Approximately 500 meters of ramp development have now been completed. Surface and Underground mine infrastructure including mine dry, ventilation raises, electrical and pumping installations are underway. The development of the decline relative to the current Phase 1 Mine Plan is shown in the longitudinal section and the plan view below.
    [Blockierte Grafik: https://s29.q4cdn.com/426815530/files/doc_news/2023/06/Global-Atomic-Longitudinal-Section-of-Dasa-Ore-Body.png]

  • Cerrado Gold Announces Potential UK Export Credit Agency Support for Project Finance at Its Monte Do Carmo and Mont Sorcier Projects
    https://www.accesswire.com/765…and-Mont-Sorcier-Projects


    Company Update


    • UKEF, the UK Export Credit Agency, selected from group of 4 compliant Expressions of Interest
    • Potentially up to US$610 million in Export Credit Agency ("ECA") support via long term ECA Project Finance to cover up to 70% of pre-production costs plus additional support to cover Interest During Construction and Insurance Premium Costs
    • UKEF's Expression of Interest will encourage a UK-led sourcing strategy while allowing flexibility for sourcing from other countries. Support available subject to standard project finance terms and successful due diligence
    • Process to appoint Mandated Lead Arranger(s) to commence shortly

    TORONTO, ON / ACCESSWIRE / July 5, 2023 / Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") is pleased to announce that it has received and accepted Expressions of Interest ("EOIs") from UK Export Finance ("UKEF") to support potential export credit facilities for the Company's 100% owned the Monte Do Carmo Project in Tocantins State, Brazil ("MDC") and the Mont Sorcier Iron Ore and Vanadium Project in Quebec, Canada ("MS") held by its wholly owned subsidiary Voyager Metals Inc. The EOIs provide support for up to US$190 million for the MDC Project and up to $420 million for the MS Project; representing 70% of total capital expenditure, interest payable during construction, the political risk insurance premium as well as other approved expenditures for each project.

  • G Mining Ventures is pleased to provide an update on the progress being made at the TZ Project. Physical construction (excluding services, mine and powerline) is over 27% complete, with work initiated on almost all Project areas.
    [Blockierte Grafik: https://pbs.twimg.com/media/F060EezXgAMaXiq?format=jpg&name=medium]


    The following major milestones have been reached in construction:
    ✔️ Dorms, kitchen and all related facilities are substantially completed;


    ✔️ Water treatment plant and sewage treatment plant commissioned and operational;


    ✔️ SAG mill and ball mill foundations are well advanced;


    ✔️ CIL area construction started ahead of schedule, with foundations complete and tank assemblysubstantially advanced;


    ✔️ Stage 1 of the 13.8kV overhead line is complete, servicing camp dorms and its communication tower, welcome center/laundry, kitchen;


    ✔️ Permanent kitchen is fully commissioned and operational;


    ✔️ Construction of the aggregate plant is complete and commissioning activities initiated; and


    ✔️ Preparation activities for the main FTSF dam have advanced including access roads, foundationgrubbing activities and coffer dams.

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