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Temas Resources Corp C.TMAS

Alternate Symbol(s):  TMASF

Temas Resources Corp. is a Canada-based company, which is engaged in the acquisition, development and exploration of mineral properties. The Company is focused on the advanced La Blache and Lac Brule Iron-Titanium-Vanadium projects in Quebec. The Company’s projects include La Blache Fe-Ti-V Project and Lac Brule Ti-Fe-V Project. The La Blache Fe-Ti-V Project is comprised of approximately 175 claims and covers 9466.97 hectares. The La Blache Project is located approximately 100 kilometers (km) north of the community of Baie-Comeau, Quebec. The Lac Brule Ti-Fe-V Project is comprised of approximately 36 claims, covering 2,016 hectares within the Labrieville Anorthsosite Complex. The Lac Brule Ti-Fe-V Project is located 64 km by road accessible from Labrieville. The Company applies its green mineral recovery technologies across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies.


CSE:TMAS - Post by User

Post by white0rabbiton Aug 29, 2024 6:21am
216 Views
Post# 36200714

Rio Tinto invest A$700,000 in Sovereign Metals project

Rio Tinto invest A$700,000 in Sovereign Metals projectRio Tinto increase its shareholding to 19.9% via an additional investment of A$700,000 in Sovereign Metals (Malawi)
 
Pilot Phase continues to progress with oversight from Sovereign-Rio Tinto Technical Committee
 
Sovereign Metals Limited is pleased to announce the commencement of a hydraulic mining trial at its Kasiya Rutile Project in Malawi as part of the ongoing Pilot Mining and Land Rehabilitation Program. The hydraulic mining trial aims to further develop previous testwork as part of the Kasiya Optimisation Study.
 
On 17 July 2023, the Company announced that Rio Tinto Mining and Exploration Limited (Rio Tinto) had made an investment of $40.4 million in the Company through the issue of 83,095,592 fully paid ordinary shares (Shares) and 34,549,598 unlisted Options (Rio Tinto Options). 
 
On 3 July 2024, the Company announced that Rio Tinto had exercised the Rio Tinto Options and the Company subsequently issued 34,549,598 Shares to Rio Tinto to raise an additional $18.5 million (before costs). 
 
Rio Tinto has advised the Company that it has elected to make an additional investment of A$690,360 in Sovereign through the issue of 1,290,392 Shares (Additional Shares) to Rio Tinto pursuant to Rio Tinto’s first right of refusal on equity issues in accordance with the Investment Agreement between Rio Tinto and the Company dated 16 July 2023. 
 
Subject to the issue of Additional Shares, Rio Tinto will increase its shareholding in Sovereign to 19.9%. 
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