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Battery Mineral Resources Corp. Provides Punitaqui Update and Extends Closing Date on its Announced Offering of up to US$6M in Unsecured Convertible Debentures
(NewsDirect) Battery Mineral Resources Corp. ( TSXV: BMR ) ( OTCQB: BTRMF ) (“...
About this update from Battery Mineral Resources Corp
[{"type":"text","content":"Battery Mineral Resources Corp. Provides Punitaqui Update and Extends Closing Date on its Announced Offering of up to US$6M in Unsecured Convertible Debentures\n \n \n (NewsDirect)\n \n \n Battery Mineral\nResources Corp. (\n \n TSXV: BMR\n \n ) (\n \n OTCQB: BTRMF\n \n )\n(“\n \n Battery\n \n ” or “\n \n BMR\n \n ” or the “\n \n Company\n \n ”)\nis pleased to provide project updates and also announce an extension\nto the final closing date of its private placement (the “\n \n Private\nPlacement\n \n ”) of up to US$6,000,000 in senior unsecured\nconvertible debentures (the “\n \n Debentures\n \n ”), which was\npreviously announced on October 17, 2023.\n \n \n \n Operational Readiness\n \n \n \n The Company is pleased\nto announce that effective January 26, 2024, it has received an\nexploitation permit from Chile's National Geology and Mining\nService (SERNAGEOMIN) with regards to the Cinabrio mine, which forms\npart of the Punitaqui mining complex. The Cinabrio mine is the\noriginal mine which supported copper concentrate production during the\napproximately 10 years of historic copper production, primarily\noperated by Glencore PLC.\n \n \n The exploitation permit allows BMR to extract\ncopper ore and barren rock from the Cinabrio mine as the mine is being\nprepared for resumption of full production. The Company anticipates\ncommencing pre-production maintenance activities at Cinabrio in the\nvery near-term, including rehabilitation of existing workings,\ndrifting and establishment of access for drilling and exploitation –\nall of which allows for the resumption of ore extraction.\n \n \n As previously announced,\nan exploitation permit for the San Andres mine has been granted. The\npermit allows for BMR to commence drifting, ramp construction and mine\ndevelopment on two different elevation levels and allows for\nestablishment of new underground exploration drilling platforms. This\nmine development will establish access to new zones of copper\nmineralization for the forthcoming mine production. Mining equipment\nand supplies to support these activities has been delivered and\npersonnel recruitment is progressing well.\n \n \n Repairs, replacements and upgrades of the\ncrushing, grinding and flotation plant are progressing well, and\noperational commi...