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Global Energy Metals Announces Partner Funded Exploration at Millennium Exceeds $1 Million; Metal Bank to Move to Stage 2 Earn-In by Spending Additional $2 Million and Issue Shares to the Value of $350,000
(TheNewswire) Vancouver, BC - TheNewswire - December 5, 2022 - Global Energy Metals Corpora...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Announces Partner Funded Exploration at Millennium Exceeds $1 Million; Metal Bank to Move to Stage 2 Earn-In by Spending Additional $2 Million and Issue Shares to the Value of $350,000\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC - TheNewswire -\nDecember 5, 2022 - Global Energy Metals Corporation\n \n \n (\n \n \n TSXV:GEMC\n \n \n )\n \n \n |\n \n \n (\n \n \n OTC:GBLEF\n \n \n )\n \n \n |\n \n \n (\n \n \n FSE:5GE1\n \n \n )\n \n \n (“Global Energy Metals”, the “Company” and/or\n“GEMC”)\n \n \n , a company involved in investment\nexposure to the battery metals supply chain, is pleased to provide a\nkey update from its\n \n \n \n \n Millennium\ncopper-cobalt-gold (Cu-Co-Au) project\n \n \n \n \n (“Millennium” and/or the “Project”) located in\nQueensland, Australia.\n \n \n \n \n \n GEMC is pleased to announce that Metal Bank Ltd.\n(“MBK”), through its wholly owned subsidiary MBK Millennium Pty\nLtd (MBKM), has provided the Company with a Stage 1 earn-in notice,\nhaving completed all of the obligations under the under the Millennium\nearn-in and joint venture agreement (JV Agreement) with Global Energy\nMetals and its wholly owned subsidiary, Element Minerals Australia Pty\nLtd (EMA), including the investment of in excess of $1 million in\nexploration spend on the project. The companies will enter Stage 2\nunder the agreement, which the JV Agreement will govern.\n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Figure 1: Millennium RC drilling,\nNorthern Area\n \n \n \n \n Highlights\n \n \n \n \n \n \n The Millennium three phase 2022 work\nprogram has been completed\n \n \n \n \n \n \n MBK’s Millennium Stage 1 Earn-in\nexpenditure of $1M has been met\n \n \n \n \n \n \n MBK has given notice to elect to\nform the Millennium Joint Venture with MBK holding a 51% joint venture\ninterest and GEMC holding a 49% interest in the Project\n \n \n \n \n \n \n MBK will now move to Stage 2 of the\nJV to increase its joint venture interest to 80%\n \n \n \n \n \n \n Resource upgrade work has\ncommenced\n \n \n \n \n \n \n Mitchell Smith, CEO & Director of\nGEMC commented:\n \n \n \n \n “We are delighted to have reached\nthis key stage in the JV agreem...