TMAS Raises $1.2M Through Financing Tranche Temas Resources Corp. (Ticker: TMAS.c or TMASF for US investors) is driven by a mission to meet the global demand for critical metals, focused on titanium and vanadium which are deemed essential to both national security and economic stability by the U.S. Department of the Interior.
Temas strategically positions itself within the Grenville Geological Province, home to the renowned Lac Tio, holding the title for the world's largest solid ilmenite deposit. This region, noted for its favorable mining conditions and stability, hosts Temas' La Blache and Lac Brule Projects.
The La Blache Property spans 127 mineral claims, with the main focus on the Farrell-Taylor deposit, boasting over 15,000 meters of drilling already conducted.
Temas recently disclosed a preliminary economic assessment for La Blache projecting a net present value (NPV) of $6.6 billion over a 14-year mine life, based on an annual production of 660,000 tonnes of titanium dioxide, with a payback period of 25 months and an internal rate of return of 60.8%.
The Lac Brule Project encompasses 36 claims over 2,016 hectares within the Labrieville Anorthosite Complex. Historical drilling and metallurgical tests have yielded encouraging results, with high percentages of TiO2, V2O5, and iron oxides.
Temas has achieved significant advancements in metallurgical processes, as evidenced by successful pilot plant testing yielding a 97.8% titanium dioxide (TiO) product, underscoring their commitment to top-notch, environmentally conscious extraction methods.
Moreover, Temas holds a robust collection of intellectual property and patents, focusing on sustainable extraction and processing technologies, with collaborations with institutions such as the University of Minnesota.
With approximately 16.4 million shares issued and outstanding, management maintains a direct ownership stake of around 13%, underscoring their deep commitment. Furthermore, 40% of shares are held by trusted associates, friends, and family.
Recently, Temas concluded the first tranche of non-brokered financing, securing an initial $1.2M in gross proceeds, with further funds expected before finalizing the financing.
Proceeds from the financing will propel Temas’ exploration endeavors and support general corporate initiatives.
Full news here: https://thedeepdive.ca/temas-resources-closes-on-1-2-million-in-first-tranche-of-financing/
Posted on behalf of Temas Resources Corp.