Business
Corporate Update - New Age Metals Inc.
(via TheNewswire) - The River Valley Project is one of North America's...
About this update from New Age Metals Inc
[{"type":"text","content":"Corporate Update - New Age Metals Inc.(via TheNewswire)\n \n \n\n\n- The River Valley Project is one of North America's largest undeveloped primary Platinum Group Metal (PGM) projects. The Project has excellent infrastructure and is within 100 kilometres of the Sudbury Metallurgical Complex. The Project is 100% owned by New Age Metals\n\n\n\n- The Company completed a $2M financing on February 3, 2020. The primary use of proceeds will be to follow-up on recommendations from the 2019 Preliminary Economic Assessment (PEA)\n\n\n\n- A Phase 1 program which includes drilling on the Pine Zone, and other follow-up recommendations from the PEA is slated to begin in early Q2-2020\n\n\n\n- Eric Sprott became a strategic shareholder and has an 18.56% ownership of the Company's current issued and outstanding shares on a post conversion beneficial ownership basis\n\n\n\n- In January, the Company announced that it engaged IBK Capital Corp to assist the Company in evaluating strategic alternatives to maximize shareholder value\n\n\n\n- Management is attending this years PDAC and will be at booth 2619, and has pre-booked a series of private meetings\n\n\n\n- The spot price of an ounce of Palladium increased by over 70% in the last year, to $US2,646/oz on February 26, 2020. Rhodium, which is also present at River Valley, has seen a price increase of over 300% YTD to $US11,000/ oz\n\n\n\n- The Company is actively seeking an option/joint venture partner for our Genesis PGM Project in Alaska and for our Lithium division in Manitoba\n\n\n\n\n \nFebruary 27th, 2020 - TheNewswire - Rockport, Canada - New Age Metals Inc. (TSXV:NAM); (OTC:NMTLF); (FSE:P7J.F) Harry Barr, Chairman & CEO, stated; \"We are pleased to update our shareholders and interested parties on current and planned activities in each of our PGM and Lithium divisions. Specifically, a progress update is provided on the River Valley PGM Project and the expected exploration program activities for 2020. Furthermore, we comment on the current PGM market and particularly the recent Palladium and Rhodium price trends.\" NAM management will be attending PDAC at booth 2619 Sunday, March 1and Monday, March 2 and welcome all to come visit the booth and speak to the team to learn more about current initiatives and our exploration and development plan for 2020.\n\n\n \nNAM's 2020 plan for River Va...