Proactiveinvestors Australia Primary Energy Metals Inc. https://www.proactiveinvestors.com.au Proactiveinvestors Australia Primary Energy Metals Inc. RSS feed en Tue, 23 Jul 2019 08:42:54 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Primary Energy Metals bolsters board with cannabis and finance appointee ]]> https://www.proactiveinvestors.com.au/companies/news/218360/primary-energy-metals-bolsters-board-with-cannabis-and-finance-appointee-218360.html Primary Energy Metals Inc (CSE:PRIM) (OTCMKTS:PEMTF) announced Wednesday that it has appointed cannabis and finance executive Joel Shacker to its board of directors, as well as announcing a non-brokered private placement with plans to raise up to C$1 million. 

The Vancouver-based junior explorer said it will offer up to 13.33 million units at a price of C$0.075 per unit, for gross proceeds of up to C$1 million. Each unit will consist of one common common share, and one-half-of-one common share purchase warrant, which can be exercised at a price C$0.15 over a two-year period. 

The company also announced a shift in its board of directors, welcoming new appointee Joel Shacker, who has worked extensively in the cannabis and finance space. 

READ: Primary Energy Metals reverse share split to roll out Tuesday

Shacker has a long list of experience and has sat on the board of directors for the cannabis lifestyle company, Weekend Unlimited Inc. Shacker has experience in expansion into international cannabis markets and has overseen and developed operations from the ground up. He entered the cannabis space by founding a cannabis extraction company which specialized in licensing proprietary formulas to producers, according to a company release. 

Primary Energy Metals also announced that Chaimae El Amri has stepped down from the board of directors to pursue other ventures and thanked her for her contributions to the company. 

Primary Energy Metals is focused on vanadium, cobalt, copper and nickel-focused mineral resource properties.

Shares of Primary Energy Metals were at C$0.10 on Wednesday. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Wed, 10 Apr 2019 18:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218360/primary-energy-metals-bolsters-board-with-cannabis-and-finance-appointee-218360.html
<![CDATA[Media files - Primary Energy Metals see big upside with projects in Utah, Spain and British Columbia ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11052/primary-energy-metals-see-big-upside-with-projects-in-utah-spain-and-british-columbia-11052.html Wed, 31 Oct 2018 09:40:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11052/primary-energy-metals-see-big-upside-with-projects-in-utah-spain-and-british-columbia-11052.html <![CDATA[News - Primary Cobalt kicks off prospecting study at prospective Uravan belt in Utah and Colorado ]]> https://www.proactiveinvestors.com.au/companies/news/201575/primary-cobalt-kicks-off-prospecting-study-at-prospective-uravan-belt-in-utah-and-colorado-201575.html Primary Cobalt Corp (CNSX:PRIM) told investors it had kicked off a prospecting study on key vanadium-uranium claims in the highly prospective Uravan belt in Utah and Colorado.

"Based on the results of the previous exploration and past-production within the Uravan belt, this coupled with recent U.S. political focus on sourcing strategic metals locally, represents an opportunity for Primary and its shareholders," said chief executive Patrick Morris.

The rising demand for vanadium as a steel alloy and the vanadium redox flow batteries (VRFB) has sparked renewed interest in vanadium deposits. VRFB's are getting more attention from utilities and large battery projects have already been announced, said Primary.

The Uravan mineral belt has been explored since the late 1880s when early prospectors discovered radium, vanadium and uranium at the Paradox Valley.

It's been a busy month for the group. Last week it welcomed geologist Thomas Clarke as a director.

And on July 16, the junior explorer, alongside Exco Mining (Spain) announced sampling results from two of its projects in Spain.

The grab samples, completed in May this year, were taken from the cobalt, copper, silver, lead, nickel and manganese projects inside one of the galleries at its Buran project in Almeria and from the waste dumps of old cobalt mines at its Beatriz project in Granada province in southern Spain.

At the Buran project, the company said although it was not possible to get access to the cobalt-rich samples in the old galleries, it were found very interesting mineralizations with high molybdenum contents and overall a massive dike that showed 968 parts per million (ppm) (0.0968%) of silver content of 1%/kg per ton, 1.5% copper and 20% lead.

At the Beatriz project, high cobalt samples were recorded (including 3950ppm, 3850ppm and 6040ppm cobalt in three samples), alongside finds in nickel and copper.

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Wed, 25 Jul 2018 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201575/primary-cobalt-kicks-off-prospecting-study-at-prospective-uravan-belt-in-utah-and-colorado-201575.html
<![CDATA[News - Primary Cobalt shares gain as it appoints geologist Clarke as director ]]> https://www.proactiveinvestors.com.au/companies/news/200982/primary-cobalt-shares-gain-as-it-appoints-geologist-clarke-as-director-200982.html Primary Cobalt Corp (CNSX:PRIM) has welcomed geologist Thomas Clarke as a director.

Clarke has a long list of companies he has worked with, including Bonterra Resources Inc (CVE:BNE). While there, he coordinated all exploration, which culminated in an NI 43-101 inferred gold resource of 492,000 ounces.

He has also been a director of Golden Share Mining Corporation, and served as president and director of Nanoose Gold Ltd, a private exploration company that was acquired by Golden Share Mining Corporation in October 2010.

From September 2010 to present, Mr Clarke has served as a director of Weststar Resources Corp (CVE:WER).

Patrick Morris CEO said. "We are very pleased to welcome Mr. Clarke to the board and look forward to his enthusiasm and knowledge of energy metals to our team."

Shares in Primary Cobalt added 8.33% to C$0.065 on the day.

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Tue, 17 Jul 2018 14:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200982/primary-cobalt-shares-gain-as-it-appoints-geologist-clarke-as-director-200982.html
<![CDATA[News - Primary Cobalt and Exco Mining release grab sample results from Spanish project; shares boosted ]]> https://www.proactiveinvestors.com.au/companies/news/200877/primary-cobalt-and-exco-mining-release-grab-sample-results-from-spanish-project-shares-boosted-200877.html Shares of Primary Cobalt Corp (CNSX:PRIM) were up 20.0% on Monday after the junior explorer alongside Exco Mining (Spain) announced sampling results from two of its projects in Spain. 

The grab samples, completed in May 2018, were taken from the cobalt, copper, silver, lead, nickel and manganese projects inside one of the galleries at its Buran project in Almeria and from the waste dumps of old cobalt mines at its Beatriz project in Granada province in southern Spain.

"The analytical results from this sampling program will assist us in identifying potential target areas for core drilling during our exploration program," said Pat Morris, president of Primary.

"The unexpected high contents in other important elements are very encouraging and speak to the potential upside in our search for these critical energy metals."

READ: Primary Cobalt Corp is building a significant exploration portfolio in Spain and British Columbia

At the Buran project, the company said although it was not possible to get access to the cobalt-rich samples in the old galleries, it were found very interesting mineralizations with high molybdenum contents and overall a massive dike that showed 968 parts per million (ppm) (0.0968%) of silver content of 1%/kg per ton, 1.5% copper and 20% lead.

At the Beatriz project, high cobalt samples were recorded (including 3950ppm, 3850ppm and 6040ppm cobalt in three samples), alongside finds in nickel and copper. 

The company said concentrations of primary cobalt minerals are important and it will continue to further explore to determine to their regional extension.

Shares of Primary Cobalt were at C$0.06, up 20.0% on Monday afternoon. 

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Mon, 16 Jul 2018 11:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200877/primary-cobalt-and-exco-mining-release-grab-sample-results-from-spanish-project-shares-boosted-200877.html
<![CDATA[News - Primary Cobalt kicks off fieldwork at prospective BC property ]]> https://www.proactiveinvestors.com.au/companies/news/198802/primary-cobalt-kicks-off-fieldwork-at-prospective-bc-property-198802.html Battery metals focused junior Primary Cobalt Corp (CNSX:PRIM) told investors that it was all set to kick off field work on its RD Cobalt property in British Columbia.

Crews will set off in the next few days for the around two-week exploration program that will focus on detailed mapping and sampling of the 'Golden Wonder' showing at the site.

READ: Primary Cobalt shares advance as it submits work programme for Spanish vanadium exploration

An initial ground program was completed in 2017 and 95 rock samples and 19 stream pan concentrate samples were collected from the property, the group said.

Sample highlights from the Golden Wonder area included anomalous gold, copper, cobalt across over 400m strike length.

Highlights included 15.20 g/t (grams per ton) of gold, 77.20 g/t silver, 0.09% cobalt and 4.95% copper, in one sample.

The RD Cobalt property comprises five contiguous claims that cover an area of around 327 ha (hectares).

The property lies around 1 km south of the Yellowhead Highway, a major highway in western Canada.

There are several historic copper, gold and cobalt mineral showings, including Golden Wonder, Daley West, Hecla, Black Prince, Blue Lake, and Silvertip Glacier.

The Golden Wonder showing has received the most attention historically, with exploration work recorded as early as 1912.

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Wed, 13 Jun 2018 09:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198802/primary-cobalt-kicks-off-fieldwork-at-prospective-bc-property-198802.html
<![CDATA[News - Primary Cobalt Corp is building a significant exploration portfolio in Spain and British Columbia ]]> https://www.proactiveinvestors.com.au/companies/news/198449/primary-cobalt-corp-is-building-a-significant-exploration-portfolio-in-spain-and-british-columbia-198449.html It’s shaping up to be a busy year for Primary Cobalt Corp (CNSX:PRIM) as its capabilities as a project generator start to become apparent.

The company is currently planning an exploration programme on its Rocher Déboulé cobalt-gold project in British Columbia to follow up on sampling data gathered during the exploration season last year.

READ: Primary Cobalt announces $750,000 private placement

And it’s also in the closing stages of a deal to acquire four exploration permits in southern Spain with a total footprint of around 500 square miles. Two of these properties are highly prospective for cobalt, copper, nickel and manganese, while the other two are prospective for vanadium.

So, in the short time since it listed on the Canadian Securities Exchange, Primary Cobalt has established itself as a company with a clear focus on acquiring assets that are prospective for battery metals.

And there could be more to come. As a project generator, chief executive Patrick Morris says the company is continuing to look at new opportunities, although the new-found emphasis on Spain is likely to remain.

And while those plans are maturing in the background, in the foreground will be newsflow about exploration at RD and the commencement of work on the new Spanish properties.

“We’re just putting together a work programme for this summer for RD,” says Morris.

“We’re going to go and check the Golden Wonder showing which has previously yielded 1,800 grams per tonne gold, cobalt up to 0.5% and copper of between 4% and 5%.”

There’s also historical drill data for the company to work off and a mining precedent in the 300mln tonne Windy Craggy project nearby, which shows similar mineralisation.

So with work on RD about to get underway, the summer’s programme of newsflow already has a sound foundation.

But it’s on the Spanish assets that the main gaze will focus, once the deal is completed in a couple of weeks’ time.

“We’re just doing our 43-101 reports so we can go to definitive agreements,” says Morris.

“It’ll be only a matter of days before we get our samples back, and the reports have already been drafted. In the meantime we’re raising C$750,000 to secure the permits and get our feet on the ground.”

Around two thirds of that money is coming out of Canada, with the rest coming from London and Australia.

“That money goes in part towards working capital and the B.C. properties,” says Morris. “but most of it will be earmarked to the Spanish properties and getting exploration started on at least two of the projects.”

READ: Primary Cobalt shares advance as it submits work programme for Spanish vanadium exploration

Once initial results have come back, Morris will then go into the market again for a much more substantial C$10mln fundraise, probably around September or October. And although that second sum represents a considerable step up, he’s confident the company can secure it.

“We’ve had interest from several parties out of Europe that are saying ‘come to us when you want to raise money’,” he says.

And while there’s plenty of interest in B.C., it’s the prospectivity of Spain that’s really driving the interest.

The mineralisation on the cobalt projects runs with copper, silver and in some cases gold, in high grade veins that show considerable similarities to the well-known cobalt deposits in Ontario.

The vanadium projects meanwhile, occur in association with iron ore, and in some very high grades. The plan with these projects is to fly an aeromagnetic survey and to undertake trenching. Momentum won’t be too hard to build here, since the vanadium price has been outperforming even lithium and cobalt in recent months.

Battery metals are hot, and Primary Cobalt is getting in on the ground floor with some serious assets here.

The company’s Spanish partners know their way around both the projects and the local bureaucratic and political structures, and for their €10,000 per month fee will go a long way towards mitigating whatever kind of jurisdictional risk there is that might be associated with Spain.

So far, volume has been relatively light since the company listed in March, but once the exploration newsflow starts rolling in, that’s likely to change, and there could be a corresponding uptick in the share price.

Watch too for news on joint venture partners, as the market starts to wake up to the quality of the assets inside the Primary Cobalt portfolio. It’s going to be an exciting summer.

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Thu, 07 Jun 2018 12:16:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198449/primary-cobalt-corp-is-building-a-significant-exploration-portfolio-in-spain-and-british-columbia-198449.html
<![CDATA[News - Primary Cobalt announces $750,000 private placement ]]> https://www.proactiveinvestors.com.au/companies/news/197876/primary-cobalt-announces-750000-private-placement-197876.html Primary Cobalt Corp. (CSE:PRIM) announced today that it plans to carry out a non-brokered private placement to shore up proceeds of up to C$750,000.

The energy metals company said that proceeds from the financing will be used for the company's exploration programs in Canada and Spain, and for general working capital purposes.

According to the terms of the placement, up to 7.5 million units of the company will be available at a price of C$0.10 per unit. Each unit will consist of one common share and a non-transferable warrant. Each warrant will entitle the holder to purchase one additional common share of the company at a price of C$0.15 cents per share for a period of 24 months following the closing date.

READ: Primary Cobalt shares advance as it submits work programme for Spanish vanadium exploration

The net proceeds from the financing will be used for the company's exploration programs in Canada and Spain, and for general working capital purposes.

All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities law. The offering is subject to approval of the Canadian Securities Exchange.

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Tue, 29 May 2018 21:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197876/primary-cobalt-announces-750000-private-placement-197876.html
<![CDATA[News - Primary Cobalt shares advance as it submits work programme for Spanish vanadium exploration ]]> https://www.proactiveinvestors.com.au/companies/news/197660/primary-cobalt-shares-advance-as-it-submits-work-programme-for-spanish-vanadium-exploration-197660.html Energy metals group Primary Cobalt Corp (CSE:PRIM) saw its shares rise as it told investors that it has submitted a work programme with Exco Mining SA to explore for vanadium in Spain.

Earlier this month, the group inked a letter of intent to acquire up to an 85% interest in the two vanadium permits in Badajoz in central Spain covering 500 square miles.

Major step forward

The deal included two further permits in southern Spain, covering cobalt, copper, nickel and manganese.

The Badajoz province is the unique region of Spain where vanadium has been extracted on an industrial scale.

The average vanadium grades historically extracted were 4-5% vanadium oxides (V2O5) with concentrations reaching up to 12% of (V2O5).

Spain has one of Europe´s most diversified mining sectors and produces copper, gold, wolframite, fluorite, potash and other metals, as well as industrial minerals and stone.

"This is a major step forward for the group that accelerates both our short and long-term goals to expand our search for ethically sourced battery mineral assets," said Patrick Morris, the chief executive of Primary Cobalt.

Shares in the company added 4.55% to stand at C$0.12.

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Thu, 24 May 2018 10:17:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197660/primary-cobalt-shares-advance-as-it-submits-work-programme-for-spanish-vanadium-exploration-197660.html