LEADING EDGE
MATERIALS REPORTS WARRANT EXERCISE AND PROVIDES CORPORATE
UPDATE
Vancouver, January
9, 2023 – Leading Edge Materials
Corp. (“Leading Edge Materials” or
the “Company”) (TSXV: LEM)
(Nasdaq First North: LEMSE) (OTCQB:
LEMIF) (FRA: 7FL) is pleased to
announce that the Interim Chief Executive Officer Mr. Eric Krafft
has exercised warrants providing proceeds to the Company of CAD 1.3
million in order to support the ongoing development and exploration
programs at its Swedish and Romanian projects. Upon closing of the
exercise, Mr. Krafft will hold 38% of the issued and outstanding
common shares of Leading Edge Materials, and 42% of the common
shares on a fully diluted basis.
Eric Krafft, Director
and Interim CEO of the Company, states: “As previously, I am
pleased to be able to support funding of the Company by exercising
existing issued warrants. There is strong support from the
shareholder base and the Board is committed to avoid dilutive
equity financings at these levels. We expect material progress
during 2023 to advance all our three projects in order to increase
and make visible significant shareholder value.”
General corporate
update:Norra Kärr
Norra Kärr (NK)
represents one of the most significant heavy rare earth deposits
with an unusual enrichment of the heavy magnet critical elements
Dysprosium and Terbium. NK is identified as a critical project by
the European Parliament (ERECON study). Highlights of the
Preliminary Economic Assessment1 (PEA) completed on NK reported
potential to recover the industrial mineral Nepheline Syenite (NS),
zirconium oxide (Zr) and niobium oxide (Nb) in addition to the rare
earth oxide (REO) products, resulting in more than 50% of total
mined material planned to be sold as products. The PEA, in
comparison to previous studies, substantially reduced land area
usage of the Project by approximately 80% and results in no
chemical process tailing dams being required at Norra Kärr. These
changes considerably reduce the environmental risk profile of the
Project at Norra Kärr, including potentially reducing additional
water requirements by almost 100% and the elimination of discharge
requirements to local water bodies compared to if mine dewatering
is used solely for water supply. Financial highlights of the PEA
are a post-tax Net Present Value of $762M (using a 10% discount
rate) and an Internal Rate of Return of 26.3%.
Leading Edge Materials
is currently in the process of undertaking the Natura2000
environmental study for project which is expected to highlight the
much-reduced environmental footprint of the project as defined in
the PEA. Current Swedish legislation requires a Natura 2000 permit
prior to the evaluation of a mining lease. In addition to the
Natura2000 the Company is planning on commencing the
Pre-feasibility Study for NK in the second half of 2023.
Woxna
Graphite
Woxna Graphite
represents one of few fully-built graphite mines in the western
world, with four deposits under mining leases, fully built
processing plant and infrastructure. The mine was built in the
mid-90s, but currently remains on care and maintenance. During 2022
the Company announced plans to consider re-starting the mine.
However, a change in the Company’s executive management during the
second half of the year delayed a decision on this process.
A PEA2 issued in 2021
indicated the potential viability of a Swedish operation producing
battery grade graphite anode material utilising the existing
graphite mine and concentrator with the addition of a value-add
processing facility offsite. The proposed process route in the PEA
uses a thermal purification process which, combined with access to
low-cost hydropower offers a low carbon footprint for the
operation. The PEA utilised only one of four deposits currently
owned by Woxna under granted exploitation concessions, where two of
the other deposits also have indicated and inferred mineral
resource estimates offering potential upside for further expansion
in future development or studies. Based on this, the PEA reports a
Post-tax Net Present Value (NPV) of $248m using an 8% discount rate
and IRR of 37.4%.
Bihor
Sud
The Bihor Sud
exploration license perimeter covers a 25 square kilometre area in
the Northern Apuseni Mountains of Transylvania. Located
approximately 90 km south-east from Oradea, which is the
administrative capital of Bihor County, the Project lies within the
Upper Cretaceous and Neogene Carpathian magmatic arcs which extend
from Turkey to Hungary and are host to several well-known mines and
mineral deposits such as the Timok-Bor-Majdanpek copper-gold zone,
Skouries and Chelopec. The Northern Apuseni Mountains have
documented high grade skarn and carbonate replacement mineral
deposits and historic production of Cu, Mo, Ag, Au, Zn, U and Pb.
Within the License area, there is a significant amount of
historical mine works including a substantial former underground
uranium and polymetallic mine which stopped production in the
1990s.
After receiving the
exploration license for Bihor Sud in May 2022, the Company has
commenced field work on the property which is holds through its 51%
owned Romanian subsidiary, LEM Romania SRL (“LEMR”). Initial work
focused on field mapping to investigate petrographic, structural,
alteration, and mineralisation data with the latter especially
located in a carbonate lithology.
Over the last couple
of months, LEMR’s team of geologists have performed geological
mapping work based from the established exploration camp in the
Leucii Zone in the south-western area of the license perimeter.
Entrance to this area is facilitated by an existing forestry road
and grants the exploration team and consultants a base for
accessing gallery openings G7 and G4 in the Leucii Zone, and G
Dibarz in the Dibarz Zone. This area was prioritized based on
results from previous work done and sampling of historical mined
material during the prospecting permit, with samples assaying up to
28% nickel, 6.8% cobalt and 17.75 ppm gold.
During this mapping
work the carbonate level has been identified precisely in several
new locations extending previous knowledge of the extent of the
carbonate lithology. Alteration and mineralization zones associated
with major fault zones have also been outlined. Additional findings
have been several previously unknown historical mining galleries,
believed to be from exploration work performed by Soviet geologists
in the 1950-60s. These newly identified mining works are two hidden
gallery mouths, eight prospecting trenches as well as a number of
drilling locations, including discarded drill cores on the ground.
These discoveries will aid to better understand the extent of
historical exploration work done on the project.
During 2023 the
Company is planning on opening adits G7 and G4 which will initially
enable a face-sampling program to be undertaken on the historical
report base metal exposures reported in these adits. Following this
program, the Company expects to commences an exploration drilling
program from sites within the adits.
Qualified
Person
Martin S. Oczlon, PhD
Geo, CEng MIMMM, a consultant to Leading Edge Materials and
Qualified Person as defined in NI 43-101, has read and approved all
technical and scientific information related to the Company’
projects contained in this news release.On behalf of the
Board of Directors,Leading Edge Materials
Corp.Eric Krafft, Interim CEO
For further information,
please contact the Company
at:info@leadingedgematerials.comwww.leadingedgematerials.com
Follow
usTwitter: https://twitter.com/LeadingEdgeMtlsLinkedin: https://www.linkedin.com/company/leading-edge-materials-corp/
About Leading Edge
MaterialsLeading Edge Materials is a Canadian public
company focused on developing a portfolio of critical raw material
projects located in the European Union. Critical raw materials are
determined as such by the European Union based on their economic
importance and supply risk. They are directly linked to high growth
technologies such as batteries for electromobility and energy
storage and permanent magnets for electric motors and wind power
that underpin the clean energy transition towards climate
neutrality. The portfolio of projects includes the 100% owned Woxna
Graphite mine (Sweden), Norra Kärr HREE project (Sweden) and the
51% owned Bihor Sud Nickel Cobalt exploration alliance
(Romania).
Additional
InformationThe information was submitted for publication
through the agency of the contact person set out above, on January
9, 2023 at 3:00 pm Vancouver time.Leading Edge Materials is listed
on the TSXV under the symbol “LEM”, on the OTCQB under the symbol
“LEMIF” and Nasdaq First North Stockholm under the symbol “LEMSE”.
Mangold Fondkommission AB is the Company’s Certified Adviser on
Nasdaq First North.
Reader Advisory
This news release may
contain statements which constitute “forward-looking information”
under applicable Canadian securities laws, including statements
regarding plans, intentions, beliefs and current expectations of
the Company, its directors, or its officers with respect to the
future business activities of the Company. The words “may”,
“would”, “could”, “will”, “intend”, “plan”, “anticipate”,
“believe”, “estimate”, “expect” and similar expressions, as they
relate to the Company, or its management, are intended to identify
such forward-looking information. Investors are cautioned that any
such forward-looking information is not a guarantee of future
business activities and involves risks and uncertainties, and that
the Company’s future business activities may differ materially from
those in the forward-looking information as a result of various
factors, including, but not limited to; the Company’s
objectives, goals or future plans, statements; exploration
results, potential mineralization, the estimation of mineral
resources, exploration and mine development plans; the Company
has yet to generate a profit from its activities; there can be no
guarantee that the estimates of quantities or qualities of minerals
disclosed in the Company’s public record will be economically
recoverable; uncertainties relating to the availability and costs
of financing needed in the future; competition with other companies
within the mining industry; the success of the Company is largely
dependent upon the performance of its directors and officers and
the Company’s ability to attract and train key personnel; changes
in world metal markets and equity markets beyond the Company’s
control; the possibility of write-downs and impairments; the risks
associated with uninsurable risks arising during the course of
exploration, development and production; the risks associated
with changes in the mining regulatory regime governing the
Company; the Company’s ability to secure necessary
permits to complete exploration work; the potential re-opening
of mine galleries in Bihor Sud; and the uncertainty
relating to a positive Feasibility Study technical report
being filed. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in the Forward-Looking Statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such Forward-Looking Statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such Forward-Looking Statements. Such
Forward-Looking Statements has been provided for the purpose of
assisting investors in understanding the Company’s business,
operations and exploration plans and may not be appropriate for
other purposes. Accordingly, readers should not place undue
reliance on Forward-Looking Statements. Forward-Looking Statements
are made as of the date hereof, and the Company does not undertake
to update such Forward-Looking Statements except in accordance with
applicable securities laws.Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the
adequacy or accuracy of this news release.
1 See National Instrument 43-101 report titled “PRELIMINARY
ECONOMIC ASSESSMENT OF NORRA KÄRR RARE EARTH DEPOSIT AND POTENTIAL
BY-PRODUCTS, SWEDEN” prepared for Leading Edge Materials Corp. with
effective date August 18, 2021 and issue date August 19, 2021. See
Leading Edge Materials Corp.’s SEDAR profile on www.sedar.ca
or www.leadingedgematerials.com for report and more
information. The PEA is preliminary in nature, it includes inferred
mineral resources that are considered too speculative geologically
to have the economic considerations applied to them that would
enable them to be categorized as mineral reserves, and there is no
certainty that the PEA will be realized.2 See National Instrument
43-101 report entitled “NI 43-101 Technical Report – Woxna
Graphite” prepared for Woxna Graphite AB with effective date June
9, 2021 and issue date July 23, 2021. See Leading Edge Materials
Corp.’s SEDAR profile on www.sedar.ca
or www.leadingedgematerials.com for report and more
information. The PEA is preliminary in nature, it includes inferred
mineral resources that are considered too speculative geologically
to have the economic considerations applied to them that would
enable them to be categorized as mineral reserves, and there is no
certainty that the PEA will be realized.
Leading Edge Materials (TSXV:LEM)
과거 데이터 주식 차트
부터 12월(12) 2024 으로 1월(1) 2025
Leading Edge Materials (TSXV:LEM)
과거 데이터 주식 차트
부터 1월(1) 2024 으로 1월(1) 2025
