We will continue keeping our ears to the ground

Author

Wingman
February 21, 2024

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

If ever compensated for an article, it will be mentioned here.

We asked, and a couple of you answered. So thank you very much.

Honestly, we enjoy this newsletter format too. While the videos offer nice little rants, these articles compel us to keep our ears to the ground in this industry, where knowledge is power.

Here is a compilation of yesterday’s news. Some good ones in here today.

We’ve been watching but still no position if Highlander Silver. Yesterday was a real strong day though as it closed at C$0.55 🔼 0.08 (17%).

Figure 5: Highlight photos of the Gratien Gold Zone in drillhole PEG-24-728. Gold mineralization is associated with centimetric quartz-carbonate veins and contains visible gold. Abbreviation: VG - Visible Gold.

Western Extension Gratien Zone

* PEG-24-728 returned 3.50 m of 29.00 g/t Au, including 0.50 m of 185.08 g/t Au at a vertical depth of ~120 m in the Gratien Gold Zone;

* PEG-24-730 returned 3.00 m of 18.66 g/t Au, including 0.60 m of 76.53 g/t Au at a vertical depth of ~60 m in the Gratien Gold Zone;

E3 Zone

* PE-23-660 returned 3.00 m of 17.52 g/t Au at a vertical depth of ~55 m in the E3 Gold Zone;

Team Zone

* PE-23-668 returned 21.10 m of 1.03 g/t Au including 2.70 m of 2.56 g/t Au and 2.20 m of 3.62 g/t Au at a vertical depth of ~405 m in the Team Zone; and

* PE-23-674 returned 22.20 m of 0.92 g/t Au including 0.50 m of 8.45 g/t Au and 1.30 m of 6.99 g/t Au at a vertical depth of ~255 m in the Team Zone.

Increased Credit Facility: The agreement increases the amount of money Electric Royalties can borrow from C$5 million to C$10 million.

Extended Maturity Date: The maturity date has been extended by two years from the previous agreement to January 12, 2028.

Interest Rate: Interest will accrue on the outstanding loan amount. The interest rate is determined by the lesser of two options: either a rate based on the secured overnight financing rate plus 7% per annum, or 12.5% per annum.

Repayment Terms: The agreement allows Electric Royalties to repay the loan without incurring any prepayment fees with at least 15 days' prior written notice to the lender.

Conversion Rights: Gleason & Sons LLC, the lender, has the right to convert some or all of the outstanding loan amount into Electric Royalties' common shares before the maturity date, subject to certain conditions and approvals.

Pursuant to the Offering, upon closing of the second tranche, the Company issued 10,808,974 non-flow through units (the “NFT Units”) at a price per NFT Unit of $0.11 for gross proceeds of $1,188,987. Combined with the first tranche of the financing that closed on December 22, 2023, the total gross proceeds raised under the Offering was $4,571,063.

Finally 🙏

First Phosphate is down to play ball and collaboration with all interested parties to develop the Saguenay-Lac-Saint-Jean Region of Quebec into the LFP battery valley of North America.

They provided a summary in which progressive steps are being taken.

This summary is us taking a stab at it for anyone that doesn’t feel like reading the news release:

  • Phosphate Concentrate Feedstock: Phosphate ore has been concentrated into beneficiated phosphate concentrate.

  • PPA Production: Phosphate concentrate has been transformed into Merchant Grade Phosphoric Acid and then into purified phosphoric acid (PPA) at pilot scale.

  • Sulfuric Acid Supply: An MOU with NorFalco Sales secures sulfuric acid supply.

  • Engineering and Feasibility Study: The company has completed a pre-feasibility study for the PPA plant and is evaluating firms for a formal feasibility study.

  • PPA Facility Financing: A letter of intent (LOI) from the Export-Import Bank of the United States (EXIM) secures financing for the PPA plant.

  • Industrial Land and Infrastructure: An MOU has been signed with Port Saguenay Authority to secure industrial lands and shipping access.

  • Local Supply Chain Development: Relationships with local businesses and contractors have been established.

  • Downstream LFP Manufacturing Partnerships: Agreements with various LFP production technology providers have been negotiated.

  • Clean Power from Quebec Hydro: Requests have been made for clean electricity allocation for the PPA and LFP facilities.

  • Indigenous Community Involvement: The company has engaged with local Innu communities and appointed an Innu First Nations mining executive to its advisory board.

  • Quebec Critical-Strategic Minerals List and Government Awareness: Apatite (phosphate) has been recognized as a critical mineral by the Quebec Government, with strong support received from local politicians.

  • Battery Ecosystem Development: Open to collaborating with all interested parties, like Arianne Phosphate, to help realize the vision of the Saquenay-Lac-Saint-Jean region. 

We just said we thought drill results would be soon. Some nice copper and PGM’s in these drill results.

Newly discovered 2,000 m by 500 m zone of anomalous gold values in soil and talus fines samples on Rogue Project’s “Aurelius” target, 12 km northwest of Valley target

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