“We are aggressively tackling the need to speed up assay returns by establishing our own sample preparation facility at site and leveraging the planned ramp up of photon assay capability in Western Australia by Chrysos Corporation.
On April 14, 2021, the Company announced a C$22 million brokered private placement , the net proceeds of which will be used, generally, to fund new exploration efforts in the Pilbara region of Western Australia, continue ramping up operations at Beatons Creek, the planned infill drilling campaign and the increased photon assay capacity in Western Australia, and for general corporate working capital purposes.
The decision by the Company to produce at Beatons Creek was not based on a feasibility study of mineral reserves demonstrating economic and technical viability and, as a result, there is an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Quinton Hennigh is the qualified person pursuant to NI 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.