Author: TSX Stocks

JOHANNESBURG (miningweekly.com) – Diversified mining company African Rainbow Minerals (ARM) has entered into a subscription agreement for a private placement financing with Surge Copper, a Canadian company that is advancing an emerging critical metals district in British Columbia.

ARM will subscribe for 39 608 708 common Surge shares for C$3.8-million through its wholly-owned subsidiary ARM Copper.

The Johannesburg Stock Exchange-listed ARM, headed by executive chairperson Dr Patrice Motsepe, will own 15% of Surge’s shares on completion of the placement, which is subject to TSX Venture Exchange and South African Reserve Bank approval.

As a member of the International Council on Mining and Metals, ARM is a steward of minerals and metals that are critical to decarbonisation and sustainable development.

Surge’s contiguous mineral claim package hosts multiple advanced porphyry deposits with compliant resources of copper, molybdenum, gold and silver – metals which are described as being critical inputs to the low-carbon energy transition and associated electrification technologies.

Surge’s 100%-owned Berg project has copper, molybdenum, silver and gold in measured, indicated and inferred categories. It also owns the Ootsa Property exploration project, which encompasses the Seel and Ox porphyry deposits that are located next to Imperial Metals’ opencast Huckleberry copper mine. Ootsa has copper, gold, molybdenum and silver in measured, indicated and inferred categories.

The compliant preliminary economic assessment on the Berg project announced by Surge in June 2023 outlined a greenfield critical metals development project highlighted by a 30-year mine life.

Total payable production was calculated to be 2.6-million tonnes of copper equivalent and 1.7-million tonnes of copper.

The mineral resource estimate showed a combined measured and indicated resource of one-billion tonnes with gradings given as 0.23% copper, 0.03% molybdenum, 4.6 g/t silver and 0.02 g/t gold.

Denarius Metals Corp. (OTCQX: DNRSF) has announced that effective as of market open on 27 March 2024, the company’s common shares (CUSIP 248233207) and certain common share purchase warrants (CUSIP 248233116) will commence trading on Cboe Canada under the symbol “DSLV” and “DSLV.WT”, respectively. The common shares and warrants have been delisted from the TSX Venture Exchange.

Serafino Iacono, executive chairman and CEO of Denarius Metals, commented, “Since our inception in 2021, we have successfully created an emerging metals producer from our portfolio of high-grade projects focused on in-demand critical minerals in Spain and Colombia. Our Zancudo Au-Ag Project in Colombia is starting production this year and our recently acquired Aguablanca Ni-Cu Project in Spain is expected to commence production in 2025. Cboe’s global exchange platform and increased investor reach were major considerations in our decision to graduate our securities to Cboe Canada to support the continuing growth in our Company and the expansion of our global investor base.”

Cboe Canada is Canada’s Tier 1 stock exchange for the purpose-driven innovation economy, providing a best-in-class listing experience for issuers that are shaping the economies of tomorrow. Fully operational since 2015, Cboe Canada lists investment products and companies seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.

Cboe Canada is part of the Cboe Global Markets network, leveraging deep international expertise, industry-leading market intelligence and technology, and unparalleled service to deliver what stakeholders and the world need now, and for the future.

To read more about this, please visit www.denariusmetals.com

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