Post by
frankman on Dec 24, 2020 10:25am
No development on Sinomine due to covid
On September 8, 2020 , Power Metals announced that it entered into a Letter of Intent with Sinomine Resource Group Co., Ltd of Beijing, China whereby Sinomine will partner with Power Metals to further the exploration and development of Power Metals' Case Lake, Paterson Lake and Gullwing-Tot Lakes properties. Sinomine's goal is to find further cesium and lithium mineral resources for commercial mining other than its TANCO mine, Manitoba through a strategic partnership with Power Metals. The TANCO pegmatite has been mined for tantalum ore concentrates, pyroceramic spodumene (Li), pollucite (Cs) and rubidium since the late 1960's. Ongoing COVID-19 travel restrictions has delayed site visits by Sinomine personnel to Power Metals properties. We will provide an update to market once dates of travel will be allowed by the Province of Ontario .
Comment by
frankman on Dec 24, 2020 10:36am
Not the news we were expecting. Could be awhile on Sinomine. A bit anti climactic.
Comment by
futuregains on Dec 24, 2020 10:39am
Agreed, but what can they do? Covid is slowing things down. At least they communicated something. The lithium market is looking good. PWR is positioned well. Gonna sit on this one.
Comment by
fishmillion on Dec 26, 2020 10:46pm
Futuregain.. i think they only updated us because of fear of pressure from tsx. They are just updating us now on covid ... lol.... looks like another ngc..
Comment by
fishmillion on Dec 29, 2020 12:04pm
Yes NGC.... graphite instead of litium....same great deposit that the world craves.... but even more valuable because of quality.... lol... big plans..... poor shareholder communication.... always someone ready to jv....lol... share price leaks and leaks... them bump.....then leaks
Comment by
fishmillion on Dec 29, 2020 12:06pm
Cant visit site to covid.. lol... covid us 1 year in and they told us this yesterday.... next it will be cant visit site cause it is raining....