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Atlas Salt Inc V.SALT

Alternate Symbol(s):  REMRF

Metals & Mining Industrial Metals & Minerals
Atlas Salt Inc. is a Canada-based mineral exploration company. The Company is engaged in the evaluation, exploration, development and production of industrial mineral properties in Newfoundland and Labrador. The Company’s principal asset is the Great Atlantic salt deposit project (Great Atlantic Salt Project), located in the St. George Basin of western Newfoundland. Its Gypsum Project is three kilometers (km) southwest of Great Atlantic salt deposit, which is an early-stage and open-pit production from the Ace deposit. Its Nepheline Syenite Property consists of a surface occurrence of nepheline syenite along the southern Labrador highway. The project is located approximately six km from tide water.


TSXV:SALT - Post by User

Atlas Salt Inc
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Post by retiredcfon Jun 20, 2022 8:10am
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Post# 34768245

Ink Research

Ink Research20 June 2022

Morning Report: Atlas Salt stock gains traction on spinout plans

Atlas Salt (SALT) has claimed the 20th spot in our June Top 20 Mining report. We last featured the mineral exploration firm here about a year ago on June 14, 2021, when it was trading as Red Moon Resources. At the time, it was contemplating a spinout of its Fischell's Brook property into an energy storage company.

The stock is up 155.9% since we last reported on it, setting a 52-week high of $2.46 on Friday. It gapped up on May 20th following an announcement that ongoing drilling at Atlas' Great Atlantic project had extended the massive homogeneous high-grade salt deposit by approximately half a kilometre to the northeast and to the northwest through the first two significant step-out holes. Atlas is working toward a feasibility study for Great Atlantic.

Work towards the Fischell's Brook spinout is also proceeding. On June 3rd, Atlas announced that it is preparing an application to list it on a Canadian exchange. Details regarding a share distribution to Atlas shareholders are expected soon. Meanwhile, a director was buying in late May even as the stock was rallying.


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