Quebec’s Chapais Property could offer investors a good deal of opportunity. According to Windfall Geotek Inc. (TSXV:WIN)(OTC:WINKF)(FSE:L7C2) Director Nathan Tribble, P. Geo., “The Chapais Property is well situated in a prolific region that has produced over 1 billion pounds of copper and 1 million ounces of gold. During this new super cycle of electrification metals this is a fabulous project that should gain a lot of attention here in short order.” That could be a major catalyst for companies involved in the project. After all, with countries pushing for millions of electric vehicles, the world will need all the copper it can get its hands on.
In addition, according to Barron’s, “Supplies, already tight as the global economy recovers, could be further strained by a predicted fivefold rise in green energy demand in the current decade, leading to significant shortages, starting in the mid-2020s, according to a report by Goldman commodity analyst Nicholas Snowdon. That could also impact other companies on the hunt for electrification metals including Emerita Resources Corp. (CVE:EMO)(EMOTF), Ely Gold Royalties Inc. (TSXV:ELY)(OTC:ELYGF), NEO Battery Metals Ltd. (TSXV:NBM)(OTC:NBMFF), and Aurion Resources Ltd. (TSXV:AU)(OTC:AIRRF).
Windfall Geotek Finalized a Deal for Copper, Zinc, and Gold Property in Chapais, Quebec
Windfall Geotek (TSXV:WIN; OTCQB:WINKF), a leader in the use of Artificial Intelligence (AI) with advanced knowledge-extraction techniques since 2005 in the mining sector is pleased to announce a finalized option agreement of the Chapais property to Grand Pacific Resources Inc.
Grand Pacific Resources Inc is a private company that will be going public in the near future. The deal terms provide Windfall Geotek with a 10% stake in the property, 1% NSR with the right to buy 1% in the future for $500k, pre-IPO/RTO priced shares, cash payments and a 20% interest in issued & outstanding common shares when the company goes public.
Deal Term Highlights:
- On or before December 31, 2021 and upon completion of a going public transaction Windfall Geotek will be issued an amount of shares in order to own 20% of the currently issued & outstanding shares.
- 10% stake in the property option
- 1 % NSR with the right to buy 1% in the future for $500k
- Board seat on the public entity by Grand Pacific Resources Inc.
- Undisclosed cash considerations
Dinesh Kandanchatha, Chairman of Windfall Geotek commented: “We are excited to partner with the team at Grand Pacific Resources. After a rigorous process and evaluating multiple avenues, it became clear that this was the best option for Windfall shareholders. Windfall Geotek intends on playing a key part through our AI and Drone services in the development of this resource alongside Grand Pacific Resources.”
Other related developments from around the markets include:
Emerita Resources Corp. announced that it has received a resolution from the Mining Department in Huelva approving the proposed work program for the entire Iberia Belt West project, subject to the Company receiving final approval from the Environmental Department for the El Cura and La Romanera targets. Emerita has engaged FRASA Ingenieros Consultores, a highly reputable engineering firm with offices in Spain and internationally, to prepare the environmental documentation for the west side of the IBW project, including the El Cur and La Romanera targets, in order to obtain the “Autorizacion Ambiental Unificada (AAU)”. FRASA are the environmental consultants used by major companies in the area for permitting and are well versed in the requirements to obtain work permits. The required documentation for the AAU was submitted on April 8, 2021.
Ely Gold Royalties Inc. and Gold Royalty Corp. announced that they have entered into a definitive agreement, dated June 21, 2021, pursuant to which GRC will acquire all of the issued and outstanding common shares of Ely Gold by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia). Under the terms of the Agreement, which was negotiated at arms-length, each holder of Ely Shares will have the option to receive consideration per Ely Share of either: (i) C$1.46 in cash, or (ii) 0.2450 of a GRC common share, subject to pro-ration based on a maximum aggregate cash consideration of C$84 million and a maximum aggregate number of GRC Shares issued of approximately 41.5 million.
NEO Battery Metals Ltd. announced the initiation of a pilot plant project whereby NEO intends to use in house resources to design and test equipment that will use NEO’s single-step silicon (Si) nanocoating process. Spencer Huh, President and CEO of NEO, commented, “We are pleased to announce that Dr. J. H. Park, Director and Chief Scientific Advisor of NEO, and Mr. Suk Joong Hwang, Member of the Company’s Scientific Advisory Board, have initiated the design of the pilot plant project. NEO’s team of scientists have also started to test and validate an equipment that will be used in the project by attempting to apply NEO’s all solution based one-pot nanocoating technology for commercial-level micron-sized Si materials. This research project has been launched at the request of several lithium-ion battery users.” Dr. Park also added, “The feasibility study and related preliminary works to optimize the design process will be updated shortly.”
Aurion Resources Ltd. announced that it has commenced diamond core drilling and base of till sampling programs on its wholly owned Risti and Launi Properties in the Central Lapland Greenstone Belt in northern Finland. Aurion has commenced its 2021 drilling program, which is planned to test a number of target areas including the high-grade Aamurusko and Notches Prospects at the Risti Property and the Hinge Zone Prospect at the Launi East Property. The program is expected to continue for the majority of the following twelve-month period for a minimum of 10,000 m of drilling.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Windfall Geotek by Windfall Geotek We own ZERO shares of Windfall Geotek. Please click here for full disclaimer.
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