Kami PT Equityworld Futures yang berkantor pusat di Sahid Sudirman Center Lt. 9 Unit C,D,G,H, Jl. Jend. Sudirman No.86, Jakarta Pusat merupakan salah satu anggota Bursa Berjangka Jakarta (JFX) yang resmi berdiri pada tahun 2005.
Precipitate Announces Appointment of New Chief Financial Officer
Vancouver, B.C. – September 30, 2022 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG, OTCQB: PREIF) is pleased to announce the appointment of Stephen Sulis as the Company's Chief Financial Officer ("CFO") effective September 30, 2022.
Mr. Stephen Sulis currently works as Chief Financial Officer for a number of TSX-V and CSE listed companies, predominately in the resource sector, both in Canada and around the globe. His professional experience includes financial reporting for exploration and mining companies, implementation of accounting software, various equity financings and implementation of internal control policies. In addition to his accounting experience, Mr. Sulis previously worked in the financial sector with TD Canada Trust. Mr. Sulis holds a bachelor's degree in business administration as well as an advanced diploma in international business studies.
Mr. Sulis is replacing Ms. Vivien Chuang who has notified the Company she will be pursuing other opportunities. The Company would like to thank Ms. Chuang for her years of service to the Company. Management and the Board of Directors wish her the best in her future endeavours.
In addition, the Company announces that it has granted stock options to certain officers and consultants to purchase up to 400,000 common shares. Each option is exercisable to acquire one common share of Precipitate at a price of $0.065 until September 30, 2027. The options will vest in accordance with the Company's stock option plan and are subject to TSX Venture Exchange acceptance.
About Precipitate Gold
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in Newfoundland Canada and the Dominican Republic. The Company has entered into an Earn-In Agreement with Barrick Gold Corporation, whereby Barrick can earn a 70% interest in the Company's Pueblo Grande Project by incurring US$10M within six years and producing a qualifying Pre-feasibility Study. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder value, in other favourable jurisdictions.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.'s ("Precipitate" or the "Company") current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
September 27, 2022 – Vancouver, British Columbia – Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce the appointment of Reynaldo Rivera Abundis to the position of VP Exploration. Mr. Rivera is a seasoned geological engineer, who brings over 45 years of mineral exploration success to his position at GSilver.
Commenting on this appointment, Ramon Davila, President of GSilver said, "I had the pleasure to work closely with Reynaldo while at Luismin S.A. de C.V., and I have followed his accomplished career ever since; he is one of Mexico's most successful and imaginative geologists who will bring central leadership to Guanajuato Silver's multiple exploration teams currently working at Topia, San Ignacio, Valenciana and El Cubo."
From 2005-2015 Mr. Rivera was the Director of Exploration for Goldcorp Inc. (Mexico); in this role he was responsible for notable exploration successes at several of Mexico's most important precious metal mines:
At the San Dimas Mine, one of Durango's most significant precious metals deposits, Mr. Rivera made two new discoveries in the western part of the district that are now in production by First Majestic Silver Corp. (TSX:FM). San Dimas is located within the same mineral trend, and approximately 140km SE, of the Company's producing Topia mine.
At Peñasquito - the world's 2nd largest silver mine - located in the State of Zacatecas and owned by Newmont (NYSE: NEM) - Mr. Rivera led exploration programs that dramatically increased reserves and resources.
At the Los Filos Mine in Guerrero State, Mr. Rivera directed exploration programs that led to increased reserves and resources - and life of mine - at what is now one of the largest operating gold mines in Mexico. Los Filos is currently owned by Equinox Gold (TSX: EQX).
Prior to his involvement with Goldcorp Inc. (Mexico), from 1990-2002, Mr. Rivera was the General Manager of Exploration for Luismin S.A. de C.V., which was acquired by Wheaton River Minerals in 2002; Mr. Rivera then served as Manager of Mine Geology for Wheaton River Minerals from 2003-2005 before that company was acquired by Goldcorp in 2005.
In 2007, Mr. Rivera was awarded the National Geology Award by the Association of Metallurgical Mining Engineers and Geologists of Mexico. Mr. Rivera is a graduate of the University of Arizona (Economic Geology), and the University of San Luis Potosi (Geological Engineering); since 2004, he has been a Qualified Person (QP) as a member of the Australasian Institute of Mining and Metallurgy (AusIMM - Registration Number 220979).
In connection with this appointment, the Company has approved the granting of 100,000 stock options to Mr. Rivera. The options, which shall vest over a two-year period, are exercisable up to five years from the grant date and have a strike price of 33 cents.
London (Aquis Stock Exchange Growth Market) trading Update:
GSilver also wishes to announce its intention to apply for admission to trading on the Aquis Stock Exchange Growth Market (Apex Segment) in London, England. It is expected trading will commence in Q4 2022. Admission to the Aquis Stock Exchange will allow for greater liquidity of the Company's shares in the UK and Europe and encourage trading especially by British institutional and retail investors. VSA Capital Limited is acting as the Aquis Stock Exchange Corporate Adviser and Broker to the Company.
About Guanajuato Silver GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico, which has an established 480-year mining history. With five mines and three processing facilities, the Company is one of the fastest growing silver producers in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS "James Anderson" Chairman and CEO
For further information regarding Guanajuato Silver Company Ltd., please contact: JJ Jennex, Gerente de Comunicaciones, T: 604 723 1433 E: jjj@GSilver.com Gsilver.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the current and projected mined output from the Company's existing El Cubo and El Pinguico mines and newly acquired San Ignacio, Valenciana and Topia mines, and GSilver's anticipated performance for the balance of 2022, the ability of the Company to continue to increase production, tonnage and recoveries of mineralized material at El Cubo and El Pinguico in accordance with its objectives and timetable and to mirror such performance at San Ignacio, Valenciana and Topia; the ability of the Company to increase silver and gold grades, improve metallurgical recovery rates, increase revenues, and reduce production costs (including AISC) consistent with the Company's expectations and production model, the Company's ability to restart production from the San Ignacio and Valenciana mines and improve efficiency and output at the Topia mine as currently planned and the timing thereof, the Company's future development and production activities; estimates of mineral resources and mineralized material at the Company's mining projects and the accessibility, attractiveness, mineral content and metallurgical characteristics thereof; the opportunities for future exploration, development and production at the Company's mines and the proposed exploration, development and production programs therefor and the timing and costs thereof; and the success related to any future exploration, development and/or production programs.
Such forward-looking statements and information reflect management's current beliefs and are based on information currently available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: our mineral resource estimates at El Cubo and El Pinguico and estimates of mineralized material at San Ignacio, Valenciana and Topia and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock conforming to sampled results and metallurgical performance; available tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to production estimates; the ability of the Company to successfully integrate production from San Ignacio and Valenciana into the Company's existing mining and milling operations at El Cubo and the availability of excess processing and tailings capacity at El Cubo to accommodate same; the Company's ability to secure additional sources of mineralized material for processing, prices for silver, gold and other metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects and to satisfy current liabilities and obligations including debt repayments; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation) and inflation rates remaining as estimated; no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results, level of activity, production levels, performance or achievements of GSilver to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, rising inflation and interest rates, geopolitical conflicts including wars, actual results of exploration, development and production activities, actual resource grades and recoveries of silver, gold and other metals, availability of third party mineralized material for processing, unanticipated geological or structural formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to continue to increase production, tonnage milled and recoveries rates, improve grades and reduce costs at El Cubo and/or Topia to process mineralized materials to produce silver, gold and other concentrates in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process mineralized material from El Cubo, El Pinguico and its newly acquired San Ignacio, Valenciana and Topia mines is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral resources and mineralized material that are not Mineral Reserves do not have demonstrated economic viability, are considered too speculative geologically to have the economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the Company's projected production of silver, gold and other metals will be realized. In addition, there are no assurances that the Company will meet its production forecasts or generate the anticipated cash flows from operations to satisfy its scheduled debt payments or other liabilities when due or meet financial covenants to which the Company is subject or to fund its exploration programs and corporate initiatives as planned. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing war in Ukraine and rising inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statements and information made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Company's interim financial statements and accompanying MD&A for the three month period ended June 30, 2022. These forward-looking statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.
Announces Private Placement for Gross Proceeds Up To $1 Million
Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
NR22-09 September 21, 2022
Vancouver, B.C. – Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) provides a corporate update and announces a non-brokered private placement for gross proceeds of up to $1 million.
Corporate Update
The Company’s development of a prospect generator business model is continuing to advance, with option agreements signed with Barrick Gold (“Barrick”) and AngloGold Ashanti (“AngloGold”) during the first half of the year.
Keith Henderson, the Company’s President and CEO stated, “Securing deals with two major gold mining companies is a significant step forward in developing the Company into a sustainable prospect generator. Major gold companies generally only complete a few transactions each year with prospect generators, and it is a notable achievement for Latin Metals to have completed two deals.”
Mr. Henderson continued, “Ultimately, the success of the Company as a prospect generator will depend on the quantum of exploration dollars and drill meters in the ground. Both Barrick and AngloGold have commenced exploration at their respective projects and have the financial resources to fund the exploration programs under their property options.”
At its core, the prospect generator model is a shareholder-focused model which aims to protect investors from excessive dilution associated with frequent equity financings (Figure 1). The model ultimately works to increase the chances of exploration success by having multiple exploration projects funded by option partners. In each case Latin Metals retains a minority interest in the projects and attempts to avoid shareholder dilution by keeping costs low.
Figure 1: Prospect Generator Model
As the Company builds a portfolio of partner-funded projects, the Company will conduct moderate financings, as and when needed to the extent not otherwise funded by partners. The Company’s aim is to become as self-sustaining as possible over time as the number of its projects and partners increases, thereby reducing the necessity of equity financings.
Partner Funded Exploration
Organullo Project, Argentina
AngloGold has commenced exploration at the Organullo project, Salta Province, Argentina, and Latin Metals expects to receive initial exploration results later in the year. Environmental Impact Assessments (“EIA”) have been submitted to provincial authorities in preparation for drilling, which is expected to begin in Q1 2023, subject to availability of drill rigs and receipt of permits.
Cerro Bayo Project, Argentina
Barrick’s exploration is ongoing at Cerro Bayo in Santa Cruz Province, Argentina. Work to date has included mapping, sampling and geophysics, and Latin Metals expects to provide an update in Q4. Barrick intends to begin drilling at Cerro Bayo in Q1 2023.
Esperanza Project, Argentina
Libero Copper and Gold (“Libero”) (TSXV: LBC), a mineral exploration company that holds a collection of porphyry copper deposits throughout the Americas, has submitted an EIA to provincial authorities for planned exploration activities at the Esperanza copper-gold project and work is expected to begin in due course.
Project Pipeline
Lacsha Copper Project, Peru
The Company’s Lacsha copper project in Peru has brought exploration success during the last 18 months. Work this year has focused on securing a drill permit and a partner to fund the drilling. Working towards a drill permit, Latin Metals has executed a 3-year agreement with the local community and the Peruvian governmental authorities have approved the Company’s initiation of the drill permitting process. As part of the permitting process, all environmental and archaeological field work has been completed and reports accepted and approved by the relevant governmental authorities. Final steps now include a public hearing in September and issuance of the drill permit if the process is successful.
Auquis Copper-Gold Project, Peru
Exploration work at the Auquis copper discovery is ongoing with additional rock sampling in progress and geophysics planned for Q4. It is expected that the project will be partner-ready in early 2023.
The Company continues to seek properties for acquisition so that the pipeline of projects available for partners remains full.
Private Placement
The Company also announces a non-brokered private placement (the “Financing”) of up to 10,000,000 units (each, a “Unit”) for a subscription price of $0.10 per Unit, to raise total gross proceeds of up to $1.0 million. Each Unit will consist of one common share in the capital of Latin Metals (each, a “Share”) and one-half of one common share purchase warrant, with each whole warrant entitling the holder thereof to purchase one Share at a price of $0.20 per Share for a period of 24 months from the closing of the Financing. Certain directors and officers of the Company are expected to subscribe for approximately 4,475,000 Units under the Financing (for gross proceeds of $475,000).
The proceeds of the Financing are intended to fund ongoing exploration at the Company’s mineral projects in Argentina and Peru and for general working capital.
The Company may pay finder’s fees on all or a portion of the Financing, consisting of a cash commission equal to up to 7% of the total gross proceeds raised and finder’s warrants equal to up to 7% of the total number of Units issued, where each finder’s warrant will entitle the holder thereof to purchase one Share at a price of $0.10 per Share for a period of 12 months from the closing of the Financing.
All securities issued in connection with the Financing will be subject to a hold period of four-months and one day in Canada. The Financing is subject to the receipt of all necessary approvals including acceptance for filing of the Financing by the TSX Venture Exchange (the “TSXV”) and any applicable securities regulatory authorities. Any participation by directors or officers in the Financing is considered a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The related party transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities to be issued under the Financing nor the consideration to be paid by the directors and officers will exceed 25% of the Company’s market capitalization.
This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
On Behalf of the Board of Directors of
LATIN METALS INC.
“Keith Henderson”
President & CEO
For further details on the Company readers are referred to the Company’s web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please contact:
Keith Henderson
Suite 890 999 West Hastings Street Vancouver, BC, V6C 2W2 Phone: 604-638-3456 E-mail: info@latin-metals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the closing of the Financing, the participation of directors and officers in the Financing, the use of proceeds of the Financing, the ability of the Company to become a self sustaining prospect generator, planned exploration of the Company’s projects by the Company and its partners, anticipated exploration program results from exploration activities, the discovery and delineation of mineral deposits/resources/reserves, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking statements can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “will”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that it will obtain TSXV acceptance for the Financing and the required corporate approvals for same, that market fundamentals will result in sustained precious metals and copper demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company’s projects, and the Company’s ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Company’s projects, estimation or realization of mineral reserves and mineral resources, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including of the TSXV, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks relating to epidemics or pandemics such as COVID19, including the impact of COVID19 on the Company's business, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading “Risk Factors” in the Company’s latest Management Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein.
TOUBANI RESOURCES FILES PROSPECTUS FOR PROPOSED DUAL LISTING ON THE AUSTRALIAN SECURITIES EXCHANGE
September 16, 2022, Toronto, Ontario – Toubani Resources, Inc. (formerly African Gold Group, Inc.) (TSX-V: TRE, FRA: 3A61) ("Toubani Resources" or the "Company") is pleased to announce that it has lodged a prospectus ("Prospectus") with the Australian Securities and Investments Commission in relation to its proposed dual listing on the Australian Securities Exchange ("ASX").
A copy of the Prospectus will be available on SEDAR under the Company`s profile. Under the Prospectus, the Company will offer between 27,500,000 and 32,500,000 CHESS Depositary Interests over common shares in the capital of the Company ("CDIs") at an issue price of A$0.20 (CAD$0.18 based on the CAD/ASD exchange rate on September 16, 2022) per CDI for gross proceeds between A$5.5 million and A$6.5 million (the "Offer"). Each CDI will represent a beneficial interest in 1 common share of the Company. The Offer is expected to open on September 19, 2022 with the expected commencement of trading on the ASX to be on or around October 24, 2022.
Leading Australian resource brokers, Canaccord Genuity (Australia) Limited and Foster Stockbroking Pty Ltd (the "Managers"), have been appointed as Lead Manager and Co-Lead Manager respectively for the ASX listing process. The Managers will receive a capital raising fee of 6% of the total amount raised under the Offer, to be paid in cash upon the issue of CDIs under the Prospectus and will receive between 2,909,883 and 3,034,883 options (the "Manager Options") depending on the final size of the Offer. One third of the issued Manager Options will have an exercise price of A$0.20 (CAD$0.18), one third will have an exercise price of A$0.28 (CAD$0.25) and one third will have an exercise price of A$0.30 (CAD$0.27). Each of the Manager Options will have an expiry date of three years from the date of issue.
The net proceeds raised pursuant to the dual listing on the ASX will be used for undertaking systematic exploration activities on the Company's Kobada Project (the "Project"), with the aim of discovering, growing and ultimately developing an economic mineral deposit, and undertaking project development and construction.
The Project is an advanced stage development project located in southern Mali, approximately 126 km south-southwest of the capital city, Bamako, and is situated adjacent to the Niger River and the international border with Guinea. The Kobada Project holds a multi-million-ounce gold Mineral Resource estimate of 1,711 koz @ 0.86 g/t Au (Measured and Indicated Mineral Resource) plus 1,433 koz @ 1.06 g/t Au (Inferred Mineral Resource) and a total Proved and Probable Ore Reserve estimate defined as 45.03 million tonnes of ore at 0.87 g/t Au. The Feasibility Study outlined an average gold production profile of 100,000 oz over the first 10 years (life of mine at 16 years), while delivering strong economics with pre-tax NPV at 5% of US$506 million and an IRR of 45%. Refer to the Prospectus for further details, including the underlying assumptions for the Company's financial forecasts in relation to the Project.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
In accordance with section 734(6) of the Australian Corporations Act 2001 (Cth), the Company advises in respect of the offer of CDIs under the Prospectus:
the issuer of the CDIs is Toubani Resources Inc. ARBN 661 082 435;
the offer of CDIs will only be made in, or accompanied by, a copy of the Prospectus;
a person should consider the Prospectus in deciding whether to acquire the CDIs;
anyone who wishes to acquire the CDIs will need to complete the application form that will be in, or will accompany, the Prospectus; and
the offer of CDIs under the Prospectus will only be made available to persons receiving the Prospectus in Australia and certain investors in Canada, Hong Kong, New Zealand, Singapore and the United Kingdom.
Qualified Person
The geological and Mineral Resource information contained in this news release has been verified and approved by Uwe Engelmann, BSc (Zoology & Botany), BSc Hons (Geology), Pri.Sci.Nat. No. 400058/08, MGSSA, a director of Minxcon (Pty) Ltd. Mr. Engelmann is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
About Toubani Resources Inc
Toubani Resources is a TSX Venture Exchange (TSX-V: TRE) listed exploration and development company with a focus on building Africa's next mid-tier gold producer. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production.
Toubani Resource's principal asset is the Kobada Project in southern Mali, which is in an advanced stage of development having completed the 2021 definitive feasibility study and is targeting gold production of 100,000 oz per annum. As well as the initial Kobada Gold Project, other exploration locations have been identified on the Kobada, Farada and Kobada Est concessions, offering the potential for an increase in resource. For more information regarding Toubani Resources visit our website at www.toubaniresources.com.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the ability of the Company to lodge the Prospectus and complete the Offer, the receipt of all necessary regulatory approvals for the Offer, the acceptance of the Prospectus by the ASX, the use of the net proceeds received under the Offer, the auger drilling campaign, the expansion of mineral resources and reserves, and drilling and exploration plans of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals from regulatory authorities; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages; available infrastructure and supplies; any pandemics and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause 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. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Please kindly get back to me if you are still interested in this deal.
