TradingCharts
2 years ago
Atlas Salt Inc REMRF:OTCQB
Independent Preliminary Economic Assessment for Atlas
Salt's Great Atlantic Project Supports State-of-the-Art
"Salt Factory"
Vision
GlobeNewswire
8:24 PM ET
Independent Preliminary Economic Assessment for Atlas
Salt's Great Atlantic Project Supports State-of-the-Art
"Salt Factory" VisionGlobeNewswireJanuary 31, 2023ST.
JOHN'S, Newfoundland and Labrador, Jan. 30, 2023 (GLOBE
NEWSWIRE) -- Atlas Salt(the "Company" or "Atlas" - TSXV:
SALT; OTCQB: REMRF) is pleased to announce the results of an
independent Preliminary Economic Assessment (PEA) and
updated Mineral Resource estimate prepared by SLR Consulting
(Canada) Ltd. (SLR) on its 100%-owned Great Atlantic Salt
Project located on the west coast of Newfoundland. Great
Atlantic is the premier undeveloped salt deposit situated in
the heart of a large regional U.S./Canadian road salt market
facing a significant domestic production
shortfall.
Highlights:
Pre-
ax internal rate of return (IRR) of 22%; NPV(8) of $909
million; payback in 4.2 years after commencement of
operations;Base case of 2.5 million tonnes per year (Mtpa)
production for a 30-year mine life with a mine and
processing design to accommodate expansion up to 4 million
tonnes per year and capable of extending the mine life
beyond the 30-year standard production model;Low-cost
production - utilizing a Q4 2022 cost basis of $23.81 per
tonne FOB;Expansion of Mineral Resource estimate including
first-time declaration of Indicated Mineral resources (187
million tonnes @ 96.4% salt) with Inferred Mineral resources
of 999 million tonnes @ 95.6% salt;State-of-the-art,
environmentally friendly design featuring the first major
salt mine in North America accessible through declines,
providing all the attendant benefits of scalability and
economic efficiencies;Recently completed drill hole CC-9,
collared 250 meters east of hole CC-4 (refer to Jan. 11,
2023 news release), was not incorporated into the PEA.
Results from this hole and other data from the 2022 drill
campaign will be included in the upcoming Feasibility Study
currently being prepared by SLR;Further to its news release
of May 19, 2022, Atlas has entered into discussions
regarding Great Atlantic with interested parties including
potential suitors. With an independent PEA now in hand,
management expects these discussions to accelerate with the
focus on possible outcomes aimed at maximizing shareholder
value.Mr. Rowland Howe, Atlas President, commented: "In my
30+ years in this industry I have not come across a salt
project as unique as Great Atlantic given its combination of
size, shallowness, and logistical advantages. This robust
PEA confirms our vision for the
project."
TradingCharts
2 years ago
Atlas Salt Inc REMRF:OTCQB
Atlas Upgrades American Listing
GlobeNewswire
9:42 AM ET
Atlas Upgrades American ListingGlobeNewswireOctober 11,
2022ST. JOHN'S, Newfoundland and Labrador, Oct. 11, 2022
(GLOBE NEWSWIRE) -- Atlas Salt Inc. (TSXV: SALT) (OTCQB:
REMRF) (the "Company" or "Atlas Salt") is pleased to
announce that its common shares are now DTC service eligible
for electronic clearing and settlement through the
Depository Trust Company ("DTC") in the United
States.
DTC is a subsidiary of the
Depository Trust & Clearing Corporation, a U.S. company that
manages the electronic clearing and settlement of publicly
traded companies. Securities that are eligible to be
electronically cleared and settled through DTC are
considered to be "DTC eligible".
With DTC
eligibility, existing investors benefit from potentially
greater liquidity and execution speeds. This also opens the
door to new investors that may have been previously
restricted from the company's common shares and greatly
simplifies the process of trading common shares in the
United States.
Atlas also recently upgraded
from the OTC Pink Market to the OTCQB(R) Venture Market
("REMRF") to complement its TSX Venture listing under the
symbol "SALT".
Mr. Rowland Howe, Atlas
President, commented: "As we prepare to bring more American
and global awareness to the premier undeveloped salt project
in North America, DTC eligibility combined with our recent
upgrade to the OTCQB represents Atlas' commitment to
increasing visibility and accessibility for existing
shareholders in the United States and potential new
investors there."
Mr. Howe added, "We look
forward to soon providing investors with a significant Great
Atlantic Project update. More than ever it's apparent that
Great Atlantic has the potential to become a crown jewel in
the heart of the robust North American road salt sector in
the midst of a domestic production
shortfall."
Rowland Howe Interview
Clip
Atlas Salt President discusses the
Great Atlantic Project from Western Newfoundland - click on
the link below to
view.
TradingCharts
2 years ago
Vulcan Minerals Inc. – Atlas Salt Completes Plan of Arrangement
As part of the Arrangement, Atlas Salt distributed 23,750,000 common shares of Triple Point that it received under the Arrangement to holders of common shares of Atlas Salt (the “Atlas Salt Shareholders”) on a pro rata basis, such that Atlas Salt Shareholders as of the Record Date received one common share of Triple Point for 3.68 common shares of Atlas Salt held by such holder as at that time. As part of this distribution, Vulcan as a shareholder of Atlas Salt receives 7,832,350 shares in Triple Point being 10.27 % of the outstanding shares of Triple Point.
Triple Point has applied to list its shares on the Canadian Securities Exchange which is subject to Triple Point meeting all listing requirements.
Patrick Laracy, President commented “The spinout of Triple Point by Atlas Salt will accelerate the evaluation and development of the Fischell’s Brook property which is poised to take advantage of the clean energy opportunities quickly unfolding in western Newfoundland. Vulcan’s interest in Triple Point will provide shareholders with significant exposure to these developments.”
https://www.globenewswire.com/en/news-release/2022/09/23/2521779/0/en/Vulcan-Minerals-Inc-Atlas-Salt-Completes-Plan-of-Arrangement.html
TradingCharts
2 years ago
Page 15
Drill Core So Pure, You Can Eat It!
As Atlas progresses toward completion of a Feasibility
Study, an ongoing drill program has extended the Great
Atlantic deposit approximately 500 m to the northeast
and 500 m to the northwest. Drilling has also provided
valuable geotechnical data to assist in mine design
• Previous northernmost drill hole, collared 4 km from
Turf Point, returned a gross thickness of 335.3 m
grading 96.8% salt starting only 190 m downhole
• GEMC Consulting Engineers and Scientists Ltd. (GEMTEC)
and Terrane Geoscience Inc. are carrying out
geotechnical logging of drill core and conducting
downhole surveys
• Given the nature of this type of deposit, Atlas Salt is able
to provide progress updates with respect to drilling and
the Feasibility Study ahead of lab results
https://atlassalt.com/AtlasSalt.pdf
TradingCharts
2 years ago
Corporate Presentation
Page 6
Share Structure as of June 7, 2022
Atlas Salt's last financing was in June 2021 -
1,282,051 hard dollar units at $0.78 ($1.0
million) with a 2-year full warrant exercisable at
$1.05.
With approximately $7.6 million in cash, Atlas is
fully funded to complete its Great Atlantic Salt
Project Feasibility Study and other initiatives.
Outstanding:
Options:
Warrants:
Fully diluted:
80,258,705
6,800,000
7,739,658
94,798,36
https://atlassalt.com/AtlasSalt.pdf