How a potential Russian incursion can impact metals markets

Metals experts and analysts from around the world have reacted to the on-going Russia-Ukraine tension by saying any escalation would have a negative impact on global metals markets. The continued geopolitical worries have raised the possibility of new …

Metals experts and analysts from around the world have reacted to the on-going Russia-Ukraine tension by saying any escalation would have a negative impact on global metals markets. The continued geopolitical worries have raised the possibility of new sanctions on trade with major Russian metals producers. This could further squeeze the tight aluminum, copper and...

The post How a potential Russian incursion can impact metals markets appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Section 232 negotiations between the US and the UK

As an example of how trade disputes often have little to do with trade, the announcement this week that the US and UK would sit down for talks to resolve the Trump era “trade dispute” over steel and aluminium tariffs serves as a case in point. Back in March 2018, when the former US president…

The post Section 232 negotiations between the US and the UK appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

As an example of how trade disputes often have little to do with trade, the announcement this week that the US and UK would sit down for talks to resolve the Trump era “trade dispute” over steel and aluminium tariffs serves as a case in point. Back in March 2018, when the former US president...

The post Section 232 negotiations between the US and the UK appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Copper Mining Co. Trading at a Discount

The Quick Take

Fundamental Research initiated coverage on World Copper with a Buy rating and a CA$2.02 per share fair value price, reported Sid Rajeev in a Jan. 21 research note.
World Copper owns two projects in Chile, Escalones and Cristal, and is i…

The Quick Take

  • Fundamental Research initiated coverage on World Copper with a Buy rating and a CA$2.02 per share fair value price, reported Sid Rajeev in a Jan. 21 research note.
  • World Copper owns two projects in Chile, Escalones and Cristal, and is in the process of acquiring a third, Zonia in Arizona.
  • A preliminary economic assessment on Escalones is expected in February 2022.
  • World Copper is well-positioned financially with $3 million ($3M) in cash and $19M in warrants and options.
  • Two Q1/22 stock catalysts are release of the Escalones PEA  and closing of the Zonia transaction.
  • World Copper's shares are currently undervalued.
  • Copper prices should remain stable in H1/22 due to low global supply of the metal along with inflation and worldwide supply chain disruptions.

World Copper Ltd.'s (WCU:TSX.V; WCUFF:OTCQB) shares are trading at a discount, at 17% of the after-tax net present value discounted at 8% of Zonia. The company is not receiving any value for Escalones, highlighted Fundamental Research Corp. analyst Sid Rajeev.

He described the exploration work the company intends to carry out this year at all three of its properties.

At Escalones, Rajeev noted, the company plans to drill at Mancha Amarilla and at already identified nearby targets, aiming to expand the existing resource of 3,450,000,000 pounds of 0.37% copper.

Regarding the Escalones preliminary economic assessment (PEA) expected next month, Rajeev wrote, "We are expecting attractive economics as the project has relatively low capex/opex."

At Cristal, plans call for a $1–1.5 million maiden drill program consisting of four to six holes, Rajeev indicated.

In terms of Zonia, World Copper intends to conduct definition drilling of the existing resource and drill testing of the northeast anomaly, wrote Rajeev. An updated PEA is expected for Zonia this year. Historically at Zonia, about 600 holes had been drilled and production had taken place.

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Disclosures

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None Click here for important disclosures about sponsor fees.  

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of World Copper Ltd., a company mentioned in this article.

Disclosures for Fundamental Research Corp., World Copper Ltd., Jan. 21, 2022

The opinions expressed in this report are the true opinions of the analyst about this company and industry.

Any “forward looking statements” are our best estimates and opinions based upon information that is publicly available and that we believe to be correct, but we have not independently verified with respect to truth or correctness. There is no guarantee that our forecasts will materialize. Actual results will likely vary. The analyst and Fundamental Research Corp. “FRC” does not own any shares of the subject company, does not make a market or offer shares for sale of the subject company, and does not have any investment banking business with the subject company. Fees were paid by WCU to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, WCU has agreed to a minimum coverage term including an initial report and three updates. Coverage cannot be unilaterally terminated.

Distribution procedure: Our reports are distributed first to our web-based subscribers on the date shown on this report then made available to delayed access users through various other channels for a limited time. The distribution of FRC’s ratings are as follows: BUY (69%), HOLD (5%), SELL / SUSPEND (26%). To subscribe for real-time access to research, visit https://www.researchfrc.com/website/subscribe/ for subscription options. This report contains "forward looking" statements. Forward-looking statements regarding the Company and/or stock’s performance inherently involve risks and uncertainties that could cause actual results to differ from such forward-looking statements.

Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products/services in the marketplace; acceptance in the marketplace of the Company's new product lines/services; competitive factors; new product/service introductions by others; technological changes; dependence on suppliers; systematic market risks and other risks discussed in the Company's periodic report filings, including interim reports, annual reports, and annual information forms filed with the various securities regulators. By making these forward-looking statements, Fundamental Research Corp. and the analyst/author of this report undertakes no obligation to update these statements for revisions or changes after the date of this report. A report initiating coverage will most often be updated quarterly while a report issuing a rating may have no further or less frequent updates because the subject company is likely to be in earlier stages where nothing material may occur quarter to quarter.

Fundamental Research Corp does not make any warranties, expressed or implied, as to results to be obtained from using this information and makes no express or implied warranties or fitness for a particular use. Anyone using this report assumes full responsibility for whatever results they obtain from whatever use the information was put to. Always talk to your financial advisor before you invest. Whether a stock should be included in a portfolio depends on one’s risk tolerance, objectives, situation, return on other assets, etc. Only your investment advisor who knows your unique circumstances can make a proper recommendation as to the merit of any particular security for inclusion in your portfolio.

This REPORT is solely for informative purposes and is not a solicitation or an offer to buy or sell any security. It is not intended as being a complete description of the company, industry, securities or developments referred to in the material. Any forecasts contained in this report were independently prepared unless otherwise stated and HAVE NOT BEEN endorsed by the Management of the company which is the subject of this report.  

( Companies Mentioned: WCU:TSX.V; WCUFF:OTCQB, )

Copper, Gold Mining Explorer to Go Public

Source: Streetwise Reports   01/25/2022

The Quick Take

Zacapa Resources will complete its initial public offering (IPO) and start trading on the TSX Venture Exchange under the symbol ZACA on Jan. 26.
The company has…

Source: Streetwise Reports   01/25/2022

The Quick Take

  • Zacapa Resources will complete its initial public offering (IPO) and start trading on the TSX Venture Exchange under the symbol ZACA on Jan. 26.
  • The company has offered 1,660,000 subscription receipts that will automatically convert to common shares.
  • Starting as of the IPO, the firm RB Milestone Group will provide investor relations consulting services to Zacapa in accordance with a May 18, 2021, agreement.
  • RB's services will include referring business and advising Zacapa about corporate communications, non-deal road shows, and market intelligence.
  • Zacapa granted 4,550,000 stock options to directors, officers, consultants, and employees.

After Zacapa Resources Ltd. (ZACA:TSX.V) completes the initial public offering, it will have 50,153,280 common shares issued and outstanding. Of those, 8,670,000 are subject to escrow and will be released in tranches over 36 months. Another 23,200,000 common shares will also be subject to escrow and released in tranches over 12 months.

In terms of the outstanding stock options, grantees will have until Jan. 26, 2027, to exercise them. With each option, one common share may be bought for $0.50.

With respect to the consulting agreement, Zacapa paid RB $95,245 for 12 months of services, per the terms. Both parties may renew the agreement subsequently if so desired.

Disclosures:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Zacapa Resources Ltd. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Zacapa Resources Ltd., a company mentioned in this article.

( Companies Mentioned: ZACA:TSX.V, )

European steel prices at a crossroads

Healthy construction demand and increased activity from the auto sector are likely to push up northern European prices for hot rolled coil in January and into February, following decreases from the previous month, sources stated. Mills are now transacting material at around €900-920 ($1,020-1,045) per metric ton exw, down from previous transactions €980-1,000 ($1,110-1,135) heard…

The post European steel prices at a crossroads appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Healthy construction demand and increased activity from the auto sector are likely to push up northern European prices for hot rolled coil in January and into February, following decreases from the previous month, sources stated. Mills are now transacting material at around €900-920 ($1,020-1,045) per metric ton exw, down from previous transactions €980-1,000 ($1,110-1,135) heard...

The post European steel prices at a crossroads appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Mining Co. to Start Drilling at Chilean Asset Jan. 25

Source: Streetwise Reports   01/24/2022

The Quick Take

Red Metal Resources Ltd. (RMES:OTCBB; RMES:CSE) will start a 2022 drill program at its Farellon property in Chile on Jan. 25, 2022.
The minerals explorer plans …

Source: Streetwise Reports   01/24/2022

The Quick Take

  • Red Metal Resources Ltd. (RMES:OTCBB; RMES:CSE) will start a 2022 drill program at its Farellon property in Chile on Jan. 25, 2022.
  • The minerals explorer plans 2,000 meters of diamond drilling to encompass two sets of targets:
    • Those in the known Farellon zone, historically drilled in 1996, 1997, 2009 and 2011.
    • Those identified along strike via sampling programs carried out in 1996 and 2012.

Speaking on Red Metal Resources's 2022 exploration program,
Caitlin Jeffs, CEO and President of Red Metal Resources Ltd. (RMES:OTCBB; RMES:CSE), commented, "2022 is going to be an exciting year to be a copper explorer and we are looking forward to expanding on our known zones, and also drill testing new targets with fantastic potential."

Read more about Why Red Metal Resources Is a Standout according to BioResearchAlert.

Capital Structure

Current Share Price: $0.20

Market Capitalization: $9.02M

Issued & Outstanding Shares: $51.56M

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Disclosures:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Red Metal Resources Ltd. Click here for important disclosures about sponsor fees.  
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Red Metal Resources Ltd., a company mentioned in this article.

( Companies Mentioned: RMES:OTCBB; RMES:CSE, )

Could we be seeing a re-run of the 2007 nickel market?

Or so asks an interesting post in Reuters last week regarding the nickel market. Back in 2007, nickel stocks had plummeted while prices rocketed.  Today, we also have plummeting stocks and a rocketing price. Inventory does not appear as low today as in 2007, yet, nor has the price exceeded $24,000 per metric ton. In…

The post Could we be seeing a re-run of the 2007 nickel market? appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Or so asks an interesting post in Reuters last week regarding the nickel market. Back in 2007, nickel stocks had plummeted while prices rocketed.  Today, we also have plummeting stocks and a rocketing price. Inventory does not appear as low today as in 2007, yet, nor has the price exceeded $24,000 per metric ton. In...

The post Could we be seeing a re-run of the 2007 nickel market? appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

What we are watching: aluminum stainless and Tesla rumors

MetalMiner has long held the belief that no super-cycle exists to drive commodities prices. The argument against the super cycle suggests a lack of a 10-year sustained growth trend of new demand to support such a cycle. And despite not having a sustain…

MetalMiner has long held the belief that no super-cycle exists to drive commodities prices. The argument against the super cycle suggests a lack of a 10-year sustained growth trend of new demand to support such a cycle. And despite not having a sustained growth demand cycle, metal prices remain extremely volatile due to supply constraints....

The post What we are watching: aluminum stainless and Tesla rumors appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Platinex Acquires W2 Copper-Nickel-PGE Project Near Ring of Fire

Source: The Critical Investor   01/20/2022

After acquiring the W2 Copper-Nickel-PGE project in Ontario, Platinex adopted a new dual strategy by going back to its roots, which involved platinum group elements (PGE), b…

Source: The Critical Investor   01/20/2022

After acquiring the W2 Copper-Nickel-PGE project in Ontario, Platinex adopted a new dual strategy by going back to its roots, which involved platinum group elements (PGE), but is also in the process of revitalizing its large and prospective Shining Tree gold exploration project in the Abitibi Greenstone Belt, also in Ontario, writes The Critical Investor.

Preview:

Platinex Inc. (PTX:CSE; 9PX:FSE) is developing quite an attractive asset portfolio in Ontario, Canada. The company already owns the highly prospective and strategically located district-scale Shining Tree gold project and very recently acquired the W2 Copper-Nickel-PGE project. Additionally, Platinex holds numerous net smelter return (NSR) royalties in its portfolio.

In the last year, management and board were strengthened, and a high-quality core investor base came in following these changes, providing additional value and support. The stock is coming off long time lows, and remains at an attractive entry point for new investors. Backed by its new investor base, the company is looking to raise money soon.

It is anticipated that strong drill results, positive metal price movements, and renewed enthusiasm in the Ring of Fire after the recently finalized acquisition of Noront by Wyloo Metals could provide substantial catalysts for share price appreciation in 2022. Potential new and complementary asset acquisitions could provide an additional boost. In addition, in the first half of 2022 the company will be looking at other strategic transactions to potentially enhance shareholder value without significant dilution.

Investors are encouraged to review the Key Points at the end of this article for a quick snapshot of the company.

Introduction

Platinex is a junior mining company exploring mineral properties in Ontario, Canada. The company has adopted a dual strategy: it will continue its gold exploration activities at the Shining Tree gold project in southwest Timmins, and is also entering the battery metals space now through the acquisition of the W2 Copper-Nickel-PGE project in the Ring of Fire region. Demand for battery metals such as copper, nickel and PGEs (platinum group elements including platinum and palladium), is at historical highs, with future growth expected due to the unstoppable electrification and durable energy paradigm shift.

The Shining Tree gold project has been the company’s main focus for a long time, as it has been in the company since 2008. After a quiet period during the 2013–2015 bear market, the company approached Shining Tree with renewed vigor in 2017, expanding the project over five times, and completing reconnaissance exploration programs including channel sampling, mapping, and gold in till sampling, with strong results. More recently an airborne magnetics survey was completed, and a LIDAR survey will be done soon.

After this, drill targets will be selected, with the company aiming to begin the next drill program at Shining Tree in the near term, pending the closing of an upcoming capital raise. The Shining Tree asset is viewed as a strategic asset for the company. With a large land package in an active camp including Alamos Gold (AGI.TO), IAMGold (IMG.TO), Aris Gold (ARIS.TO) and many quality juniors, there is an real opportunity for the Shining Tree camp to contain another Coté Gold deposit, which located to the west.

On January 17, 2022, the company expanded its horizon, and acquired the large W2 Copper-Nickel-PGE project from a private owner, returning the company to its historical roots and in keeping with the name Platinex. As copper and nickel are both very important to the ongoing paradigm shift towards electrification, the W2 project fits perfectly with the new strategy. The next step for Platinex at W2 will be to complete a comprehensive data compilation and obtain an exploration permit. Following this, the company will be able to commence drilling of targets that have already been identified but remain untested, and carry out prospecting and geophysical surveys to identify and refine new targets.

W2 project

It seems Platinex Inc. has timed its acquisition of a 100% interest in the W2 project well, as Wyloo acquired nearby Noront (NOT.V) for C$616.9 million after a bidding war with a formidable competitor: BHP. As BHP is known for doing extremely thorough due diligence on its transactions, it seems certain the company saw compelling reasons to bypass the usual Ring of Fire objections, as this area still has been underdeveloped due to lack of infrastructure. The Ring of Fire is viewed as one of the most promising mining opportunities in Ontario for more than a century.

After a total of C$278 million in exploration has been carried out in the Ring of Fire so far, numerous significant discoveries involving chromite, copper, nickel, zinc, gold and PGEs are waiting for the first initiatives on building mining projects and accompanying infrastructure, potentially with the help of Ontario, the province with the most revenues coming from mining across Canada.

In the meantime, Platinex will be exploring its new project as soon as possible, to potentially prove up a significant deposit. The W2 project has seen significant exploration so far, ranging from sampling to airborne surveys to 8,772 meters (m) of drilling. Drill results for the property were impressive:

  • 6 m of 0.56% copper equivalent (CuEq) or 0.956 grams per tonne (g/t) palladium equivalent (PdEq) (LH-01-06)
  • 6 m of 0.57% CuEq or 0.971 g/t PdEq including 17 m of 1.08% CuEq or 1.86 g/t PdEq (LH-01-05)
  • 42 m of 1.02% CuEq or 1.8 g/t PdEq including a high grade 4.5 m section of 4.52 g/t PdEq (LH-01-02)

Most results were intercepted close to surface, indicating substantial open pit potential. Numerous targets have been identified, and the T5 target appears to have the same geophysical signature as Eagle’s Nest (Noront/Wyloo).

Therefore it is likely the company will start drilling at these targets soon after permits are granted.

Shining Tree

Besides the W2 project, Platinex has also assembled another impressive property: the 100% owned Shining Tree gold project in the Abitibi Greenstone Belt in Ontario, home to some of the richest gold mineralization worldwide, with total production surpassing a staggering 180 million ounces (Moz). The company has expanded this asset into an impressive 21,720 hectare land package, located strategically in between adjacent projects owned by IAMGold (the aforementioned Coté Gold > 6.5 Moz gold (Au), going into production in 2023, and Gosselin), Aris Gold (Juby, 2.3 Moz Au) and Orefinders (ORX.V) (Knight).

As can be seen, the property encompasses over 20 km of the prospective Ridout-Tyrell Deformation Zone, which is also host to the aforementioned Coté Gold and Juby deposits. The Shining Tree project is located at the crossing of the Larder Lake Fault, which is home to some of the largest gold deposits in Canada, and the Michiwakenda Lake Fault. Platinex has completed gold in till sampling in the past, outlining significant anomalies:

Platinex also completed a 51 drill hole program a while ago at the Herrick target, and hit gold at almost every hole, with highlights accounting for 7.15m @2.76 g/t Au, 46.3m @0.65 g/t Au, 7.2m @2.38 g/t Au, 14.1m @1.2 g/t Au and 12.2m @1.47 g/t Au, all within open pit depths.

Mineralization at the Herrick target is open at depth, and management hopes to find more mineralization at depth, as lots of deposits in the Abitibi show these characteristics. Besides Herrick, there are many more targets to be drill-tested, and management is currently outlining plans for this at the moment as mentioned.

Royalty portfolio

Platinex also holds an interesting portfolio of royalties on projects located in Ontario, with for example a 2.5% NSR on Big Trout Lake (PGM-Ni-Cu-Cr), a 1% NSR on a claim block in the Ring of Fire (Au-Ni-Cu-PGM-Cr) and a 1% NSR on a part of the Shining Tree project. The company also holds a 2% NSR from Newmont (NGT.TO) on the Sonia-Puma Au-Cu property in Chile. Platinex's current strategy for its royalty portfolio encompasses the creation of interesting royalties on both Shining Tree and the new W2 property, in turn creating a substantial royalty portfolio that in the future could be monetized by selling or spinning out.

Share structure

There are 161.65  million shares outstanding (fully diluted 214.65  million), 38.1 million warrants (average strike price of C$0.095) and incentive stock options issued to the tune of 15 million options. Platinex has a current market capitalization of C$7.2 million based on the January 18, 2022 share price of C$0.045. 

Platinex Inc, 1 year timeframe (Source: tmxmoney.com)

The current cash position of Platinex is approximately C$0.5 million, and the company will be looking to raise additional funds soon. Shares are tightly held, as management holds no less than 12% of the current shares outstanding (CEO Greg Ferron holds 2%), Treasury Metals (TML.TO) holds 10%, Alamos Gold 3.5%, European HNW’s with strong ties to management hold 25.5%, and the company also enjoys approximately 7% institutional ownership.

Management

CEO Greg Ferron: Mr. Ferron has 20 years of mining industry and capital markets experience. He has held various senior level roles in mining, corporate finance, corporate development, and investor relations – including at Laramide Resources Ltd. (LAM.TO), Treasury Metals Inc., TMX Group and Scotiabank. Mr. Ferron has significant diverse merger and acquisitions experience, including Laramide’s Westwater ISR project acquisition, and more recently the Goldlund project acquisition as CEO of Treasury Metals, creating one of Canada’s largest gold developers. Mr. Ferron is also a director of Fancamp Exploration Inc (FNC.V).

Non-Executive Chairman James Trusler: Chairman of the Board of the company, 1998 to present; CEO and President of the company 1998–2018, 2019 to 2021; President, J. R. Trusler & Associates (mineral consultant), 1995 to present. Geological Engineer with over 45 years of exploration experience with a history of discovery (multiple Ni-Cu-PGM deposits at the Raglan Nickel mine, owned by Glencore) and strategic acquisitions of world-class scale gold, uranium and Ni-Cu-PGE deposits.

Director Felix Lee: Mr. Lee is an economic geologist and senior executive with over 30 years of business and project management experience in the minerals industry both in Canada and internationally. Mr. Lee completed his tenure as Director and Principal Consultant to CSA Global Canada in 2019 and was previously owner and President of the predecessor Toronto-based geological consultancy ACA Howe International Limited. Felix Lee is currently the President of Prospectors and Developers Association of Canada (“PDAC”) the largest such mining industry organization in the world.

Finance Committee: Frank Hoegel: His background includes more than 20 years of direct experience in the mining industry, and a successful track record as an international financier/investor. He currently manages a natural resource fund, sits on the advisory board of Concept Capital Management, and sits on the board of several TSX Venture listed companies.

Finance Committee: Olivier Crottaz: Independent asset manager who founded Crottaz Finance. 30 years in the Swiss banking business as senior portfolio manager and tactical asset allocator at UBS and Credit Suisse as managing director.

Technical Committee: Lorne Burden: Senior manager with over 30 years experience, recently Manager Corporate Development and Senior Geologist Logistics at Royal Nickel Corporation. Former Director of PDAC.

Technical Committee: Blaine Webster: Experienced Geophysicist, Discovered 4 Moz Au property, Completed 1,500 geophysical surveys in 35 countries as President of JVX Ltd. Former President Goldeye Exploration Ltd. President Golden Mallard Corp.

Key points

  • On January 17, 2022, Platinex acquired the W2 Copper-Nickel-PGE property in Ontario, close to the prospective Ring of Fire area, which is home to large chromite, base-, and precious metal deposits
  • Platinex also fully owns the prospective 21,720 hectare Shining Tree gold project, which is located strategically between other gold projects nearby
  • The Shining Tree gold project contains 21 km of the prolific Ridout-Tyrell Deformation Zone, which in turn contains the 6.5 Moz Coté Gold deposit (IAMGold), and the 2.3 Moz Juby gold deposit (Aris Gold)
  • The company plans to conduct exploration programs on both projects in 2022
  • Platinex also has an interesting royalty portfolio on copper, zinc, chromite, gold and PGE properties in Canada and Chile.
  • Platinex has experienced management, and enjoys strong financial backing by Treasury Metals, a few institutions and a group of powerful European investors
  • Platinex is valued at an attractive entry point at the moment, with a tiny market cap of just C$7.2 million

With its recent acquisition of the W2 Copper-Nickel-PGE project just completed as part of its new dual strategy, a new CEO, and new strategic backers coming in, and the large, prospective Shining Tree gold project ready to explore, Platinex seems to be shifting gears now. After the upcoming raise is closed, the company will be ready to execute on new exploration programs for both W2 and Shining Tree, which already have seen strong results in the past and have lots of mineralized potential. It will be interesting to see how far Platinex management can take these two large, very intriguing land packages.    

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The Critical Investor is a newsletter and comprehensive junior mining platform, providing analysis, blog and newsfeed and all sorts of information about junior mining. The editor is an avid and critical junior mining stock investor from The Netherlands, with an MSc background in construction/project management. Number cruncher at project economics, looking for high-quality companies, mostly growth/turnaround/catalyst-driven to avoid too much dependence/influence of long-term commodity pricing/market sentiments, and often looking for long-term deep value.

Getting burned in the past himself at junior mining investments by following overly positive sources that more often than not avoided to mention (hidden) risks or critical flaws, The Critical Investor learned his lesson well, and goes a few steps further ever since, providing a fresh, more in-depth, and critical vision on things, hence the name.

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January 20, 2022

The Chinese National Bureau of Statistics has reported that China’s crude steel output fell by 3% to 1.03 billion tons in 2021a. This marks its lowest level since 2016. China remains the largest steel-producing country in the world. The production downturn brought on by curbs imposed to fight pollution, and a drop in steel prices…

The post January 20, 2022 appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

The Chinese National Bureau of Statistics has reported that China’s crude steel output fell by 3% to 1.03 billion tons in 2021a. This marks its lowest level since 2016. China remains the largest steel-producing country in the world. The production downturn brought on by curbs imposed to fight pollution, and a drop in steel prices...

The post January 20, 2022 appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.