NEW YORK, NY -- December 29, 2023 -- InvestorsHub NewsWire --
CGrowth Capital Inc. (OTC:
CGRA) is a public holding company for alternative and
undervalued assets. The company is sector and industry agnostic and
currently consists of two divisions including Sports Technology and
Mining. The company is focused on investing in growth-oriented
opportunities where the company’s capital, expertise, and
capabilities can help create significant added value for
shareholders.
CGrowth Capital Inc. is excited to update shareholders that the
company has been officially granted four additional, four-year
prospecting licenses by the Ministry of Minerals and the Mining
Commission of the United Republic of Tanzania, spanning a total of
140.74 square kilometers. These additional licenses bring the total
number of officially granted prospecting licenses to eleven,
covering a total area of 330.04 square kilometers. Shareholders can
also expect additional announcements on the award of further
licenses within the coming weeks. For detailed information,
including viewing the official prospecting licenses and associated
formal documents from the Ministry of Minerals and the Mining
Commission, please visit the investor section of the CGRA mining
website.
As a key driver in the global energy transition, lithium has
seen its demand skyrocket. Central to the green energy revolution,
the demand for lithium is set to increase as the push towards
decarbonization intensifies, especially following specific
initiatives discussed at the recent COP 28 summit held in the
United Arab Emirates. In the coming years, batteries are expected
to account for 95% of lithium demand, reflecting the ambitious
electric vehicle (EV) production targets set by major automotive
manufacturers. EVs, which require six times the mineral
inputs of conventional cars, including significant amounts of
lithium for their batteries, will drive this demand. Given these
market dynamics, CGRA is now ideally positioned to capitalize on
the booming global demand for lithium.
Following the recent release of the desktop research and
reconnaissance survey, the company has disclosed a comprehensive
overview of the initial phase of the project's rollout schedule.
Dedicated teams are already on the ground, actively executing the
plan. This document outlines the action plan and timelines
essential for completing a Preliminary Economic Assessment (PEA) by
Q2 2024, including critical dates for key activities like drilling
and core sampling. It also introduces the main exploration team
members leading this phase. In addition, as part of the detailed
rollout, further samples from the prospecting license sites have
been obtained and submitted for comprehensive laboratory analysis.
The management team anticipates the initial results from this
thorough lab assessment in the coming weeks and is hopeful that
these findings will lead to a discovery announcement of significant
importance, potentially marking a major milestone in the project's
advancement. Shareholders seeking a comprehensive overview of the
rollout plan and associated task deliverables are invited to visit
the investor section of the CGRA Mining website.
Two key elements of the action plan which will be completed
early in the new year, prior to completing a PEA, include the
drilling and core sampling programs. These programs will be
instrumental in enriching the company’s understanding of the
tenements and building a strong reserve table. The drilling will
refine the estimation of the lithium resources already confirmed,
while the core sampling will provide detailed data on the lithium
concentration and ore quality. This information will be
instrumental in understanding the economic potential of the mining
project in greater detail. Given the encouraging data from
surrounding mines and the company’s recent research study, the
management team's optimism regarding the project's potential has
intensified. This sentiment is buoyed by anticipation of further
validation and positive results from upcoming analyses and in-depth
reports, especially in light of the recent positive upturn in the
global lithium market.
While it's beneficial to understand the core elements of the
rollout plan for the next number of months within this phase of the
project schedule, it's equally important to reflect on the
significant progress and key milestones achieved in recent months,
recognizing the tangible benefits and practical implications of
these accomplishments for CGRA shareholders. With this in mind, it
is crucial for shareholders to fully grasp the significance of the
following milestones:
Granting of Prospecting Licences
Obtaining prospecting licenses is a crucial milestone in the
mining industry, signifying a major achievement for any mining
company. CGRA has successfully secured multiple four-year
prospecting licenses from the Ministry of Minerals and the Mining
Commission of the United Republic of Tanzania. This authorization
enables CGRA to explore and potentially extract lithium from eleven
carefully chosen areas, spanning a total of 330.04 square
kilometers. This achievement is of great significance as it grants
the company the necessary legal and regulatory approvals to
continue its exploration and potential extraction of lithium
unimpeded and without pause for the next four years. It's important
to emphasize that the process of obtaining these licenses is both
time-consuming and costly. CGRA has invested a substantial amount
of time and energy to obtain these licenses with the prospecting
license fees for these eleven licenses alone totaling over
$328,000. This highlights the significant financial commitment the
company has made to secure the rights to these licenses. Investors
can easily access these licenses and the associated costs on the
CGRA Mining website in the investor section. For additional
confirmation of their issuance and validity, investors can also
check them on the official Tanzania Mining eGov Portal. To assist
in the verification process, a comprehensive video tutorial
demonstrating how to confirm the existence of these licenses on the
official Government Portal is available on the CGRA Twitter page:
@CGRAOTC.
Internationally Accredited Mining Standards and Appointed
Experts
Companies and competent persons engaged by CGRA Mining Inc.
adhere to internationally recognized mining standards, including
the Joint Ore Reserves Committee (JORC) Code, the South African
Code for Reporting of Exploration Results, Mineral Resources, and
Mineral Reserves (SAMREC), as well as Canada's National Instrument
43-101 (NI 43-101). These global industry benchmarks guarantee that
mineral resource and reserve reports from CGRA Mining Inc. are
consistently reliable and of the highest quality. Compliance with
these standards includes precise grade estimation, geological
modelling, and in-depth economic analysis, all aimed at providing
accurate and fair representations of the company's assets. Aligning
with these well-respected, globally recognized standards
underscores the company's commitment to transparency, ensuring
shareholders gain a comprehensive and accurate understanding of
CGRA Mining Inc.'s projects and associated reports in all
circumstances.
Confirmation of Lithium Bearing Pegmatite Deposits
CGRA published its first formal findings via a comprehensive
research study and reconnaissance survey, often viewed as a key
milestone for a mining company. This provides independent
validation of the existence of lithium deposits within the
tenements owned by CGRA Mining Inc. Notably, the study identified a
significant mineral cluster in the western part of the tenements in
the Hombolo region, extending through the Hombolo Lithium Block.
For investors, this means that specific tenements owned by the
company within the Hombolo region, notably PL/11955/2022, a portion
of PL/17271/2021, and PL/19510/2022, have been identified as sites
with lithium deposits. These areas are not only confirmed to have
lithium, but they also exhibit a high potential for containing
significant lithium deposits. These areas also show high
occurrences of lithium-bearing minerals and have favorable terrain
and proximity to known pegmatite locations. The discovery of
significant lithium deposits within CGRA Mining Inc.'s tenements,
particularly in the Hombolo region, is of immense significance for
investors. This development not only validates the company's
resource potential but also indicates promising opportunities for
the future extraction of high-grade lithium. Coupled with
potentially low mining costs, it suggests huge potential for
returns on investment.
Value-Enhancing Discovery Phase
CGRA's current trajectory aligns with the Lassonde Curve, a
widely recognized model in the mining industry that illustrates the
significant growth potential during the discovery stage—a phase
CGRA is now entering. This achievement is particularly noteworthy
as it can take upwards of four years to reach this stage of the
mining process. The Lassonde Curve suggests that the discovery
stage often corresponds with the most substantial increase in a
mining company's market value. As CGRA embarks on this exciting
phase, there is a strong anticipation of not only advancing
exploration efforts but also realizing remarkable value growth.
Historically, this stage has been a pivotal point for substantial
increases in company valuations and benefitting shareholders in
return.
In summary, CGrowth Capital Inc. is continuing to move forward
with its mining project, with a clear roadmap outlined in a
detailed project rollout schedule. The company has achieved
significant milestones to date, including securing prospecting
licenses and confirming valuable lithium deposits within tenements
owed by the company. As CGRA Mining Inc. enters the discovery
phase, there is a strong potential for substantial market value
growth. This presents an enticing investment opportunity for those
who can recognize the substantial accomplishments achieved by the
company thus far and grasp the substantial upside that lies just
ahead.
For regular CGrowth Capital (CGRA) updates, you are invited to
view the company’s website and/or to follow the company’s Twitter
account:
Website: https://cgrowthcapital.com
Twitter: @CGRAOTC
Contact: info@cgrowthcapital.com
Source: CGRA
Forward-Looking Statement
Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
laws (collectively referred to herein as forward-looking
statements). Except for statements of historical fact, the
information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential
investors the opportunity to understand management's beliefs and
opinions in respect of the future so that they may use such beliefs
and opinions as one factor in evaluating an investment. These
statements are not guarantees of future performance and undue
reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or result expressed or implied by such
forward-looking statements. Although forward-looking statements
contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking
statements. The Securities and Exchange Commission ("SEC") has
provided guidance to issuers regarding the use of social media to
disclose material non-public information. In this regard, investors
and others should note that we announce material financial
information via official Press Releases, in addition to SEC
filings, press releases, Questions & Answers sessions, public
conference calls and webcasts also may take time from time to time.
We use these channels as well as social media to communicate with
the public about our company, our services, and other issues. It is
possible that the information we post on social media could be
deemed to be material information. Therefore, in light of the SEC's
guidance, we encourage investors, the media, and others interested
in our company to review the information we post on the following
social & media channels: Twitter: @CGRAOTC
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