Horizonte Minerals Plc (AIM:HZM), (TSX:HZM), the nickel development company with assets in Brazil, is pleased to announce that it has awarded all major and long-lead-time process plant equipment contracts for the Company's flagship Araguaia Nickel Project ("Araguaia" or the "Project
Following completion of the competitive tender processes, and detailed negotiations, the Company has now secured equipment supply and technical support services for the balance of the Araguaia process flow sheet from leading global suppliers. This is in line with the strategy employed for the award of the furnace contract to Hatch Ltd. earlier this year (see announcement dated 25 February 2022).
Horizonte is pleased to be working with FLSmidth A/S ("FLSmidth"), Metso Outotec Oyj ("Metso Outotec"), Uvån Hagfors Teknologi AB ("UHT"), Inteco Melting and Casting Technologies GMBH ("Inteco") and other leading suppliers to the ferronickel industry. The successful completion of these contract awards is a significant de-risking event for the Project. Importantly it provides more certainty on costs for a material portion of the overall capital expenditure and builds confidence in the Project schedule by gaining commitments for the delivery of key equipment on site in the timeframe required.
Jeremy Martin, CEO of Horizonte, commented: "Completing the award of these key process related contracts is a major milestone for the development of Araguaia as, together with the previously announced award of the furnace contract, this represents around US$135 million of capital expenditure on the Project and provides increased confidence in our planned development timelines. The first pieces of equipment are expected on site during Q4 of this year, in line with the overall project schedule. To date we have awarded contracts totalling US$293 million (including the US$135 million of process equipment noted above) on budget and on time, which continues the positive momentum building at Araguaia.
"From the outset we have pursued a strategy of working with best-in-class partners. It is pleasing to see all our contracts awarded to tier 1 industry-leading suppliers who bring significant experience and successful track records at similar projects in Brazil to our already experienced team. FLSmidth and Metso Outotec in particular have played a key role in our project development strategy as they underpin a significant portion of our export credit agency linked financing and we are grateful for the support they and their respective export credit agencies have provided to date."
Summary of Process Plant Equipment Awards The rotary kiln, rotary dryer and associated dust handling equipment supply contract has been awarded to FLSmidth. FLSmidth is a market-leading supplier of engineering, equipment, and service solutions, particularly to the ferronickel industry, notably to Anglo American's Barro Alto and Vale's Onca Puma nickel operations in Brazil. FLSmidth has a strong track record of providing equipment and technical support services, with extensive experience in processing ore with characteristics similar to Araguaia.
The ore preparation equipment contract involves the provision of primary, secondary and tertiary crushing, as well as the apron feeder that feeds the dryer. A primary dust control system for the reduction and refinery furnace, in addition to the secondary dust removal system will also be supplied. This contract has been awarded to Metso Outotec, a leader in end-to-end solutions and services for the minerals processing and metals refining industries, with presence in more than 50 countries. Metso Outotec has extensive experience in providing equipment for the mining industry, including for operations worldwide with similar processing plants. It has a substantial presence in Brazil to provide ongoing technical support.
Horizonte has also awarded a contract for the supply of metal granulation equipment to UHT and a contract for the supply of the refinery equipment package to Inteco, which will transform the crude ferronickel produced by the electric arc furnace to high grade ferronickel for sale to customers.
For further information, visitwww.horizonteminerals.comor contact:
Horizonte Minerals plc Jeremy Martin (CEO)
Peel Hunt LLP (Nominated Adviser & Joint Broker) Ross Allister David McKeown
BMO (Joint Broker) Thomas Rider Pascal Lussier Duquette Andrew Cameron
Tavistock (Financial PR) Emily Moss Cath Drummond
About Horizonte Minerals: Horizonte Minerals plc (AIM & TSX: HZM) is developing two 100%-owned, Tier 1 projects in Parà state, Brazil - the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Both projects are large scale, high-grade, low-cost, low-carbon and scalable. Araguaia is fully funded and in construction. The project will produce 29,000 tonnes of nickel per year to supply the stainless steel market. Vermelho is at feasibility study stage and will produce 25,000 tonnes of nickel and 1,250 tonnes of cobalt to supply the EV battery market. Horizonte's combined near-term production profile of over 50,000 tonnes of nickel per year positions the Company as a globally significant nickel producer. Horizonte is developing a new nickel district in Brazil that will benefit from established infrastructure, including hydroelectric power available in the Carajás Mining District.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the acquisition of equipment as described herein, statements with respect to the potential of the Company's current or future property mineral projects; the ability of the Company to complete a positive feasibility study regarding the second RKEF line at Araguaia on time, or at all, the success of exploration and mining activities; cost and timing of future exploration, production and development; the costs and timing for delivery of the equipment to be purchased as described herein, the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the realization of mineral resource and reserve estimates and achieving production in accordance with the Company's potential production profile or at all. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the acquisition of equipment contemplated herein, on time or at all, the ability of the Company to complete a positive feasibility study regarding the implementation of a second RKEF line at Araguaia on the timeline contemplated or at all, exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates, together with the risks identified and disclosed in the Company's disclosure record available on the Company's profile on SEDAR at www.sedar.com, including without limitation, the annual information for of the Company for the year ended December 31, 2020, the Araguaia Report and the Vermehlo Report. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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With its diversity of applications in both technology and industry settings, nickel is a metal that will never go out of style.
Nickel has been commonly used in alloys to create stainless steel, but more recently its manufacturers have found a modern use: batteries. With the rising trend of electric vehicles and the push towards cleaner vehicles, the base metal is in high-demand for its role in the production of lithium-ion batteries.
After a dip in Q1 2020, nickel prices have experienced a steady rise over the last two years. Prices surpassed the US$100,000 per tonne in March this year, prompting the suspension of trading on the London Metal Exchange. While nickel trading resumed mid-March, prices have deflated since then, nearing the US$20,000 per tonne mark in July. That said, both the continued demand for stainless steel in addition to the rising demand for lithium-ion batteries are predicted to drive the prices over the next decade and beyond.
Below the Investing News Network has listed the top nickel stocks on the ASX by their year-to-date gains. Data for the top stocks list was gathered from TradingView's stock screener on May 28, 2022, and market caps were above $50 million at the time.
Year-to-date gain 655.56 percent; market cap: AU$303.97 million; current share price: AU$1.70
Galileo Mining (ASX:GAL) is a base metals mining company based out of Australia. The company fully owns the nickel-copper-cobalt Norseman project, which is located outside the town of Norseman in Western Australia. Galileo Mining is also exploring for large scale magmatic nickel copper deposits in the Fraser Range, a joint venture with Creasy Group.
On May 11, the company announced it had made a significant palladium-platinum-copper-nickel-sulphide discovery at its Norsman project. Galileo's Managing Director Brad Underwood said the company remains fully funded with AU$8.2 million at the end of Q1, meaning it is able to continue aggressive exploration programs at all its projects.
Year-to-date gain 92.31 percent; market cap: AU$74.25 million; current share price: AU$0.13
GME Resources (ASX:GME) is a mineral exploration and development company based out of the resource-rich Western Australia. GME currently owns 100 percent of the NiWest nickel-cobalt project. The company claims that its project, which is located beside Glencore’s (LSE:GLEN) Murrin Murrin nickel-cobalt mine, is "one of the largest and highest quality undeveloped nickel/cobalt resources in Australia."
The company has begun a program to update its pre-feasibility study, as the current 2018 version doesn't take into account the changed nickel and cobalt prices.
Year-to-date gain 5.41 percent; market cap: AU$499.71 million; current share price: AU$1.17
Mining and development company Centaurus (ASX:CTM) is aiming to supply nickel sulfide for a cleaner energy future. Currently, the company is focused on developing its advanced Jaguar project located in the Carajás mineral province in Brazil which is a significant supplier of many commodities, including nickel.
The Jaguar project's most recent mineral resource estimate, released in December 2021, confirms that the project has the largest nickel sulphide resources on the ASX outside of major companies, and it has one of the largest on the ASX overall, as well.
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Securities Disclosure: I, Marlee John, hold no direct investment interest in any company mentioned in this article.
Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to provide an update on project financing for the Company’s flagship Ta Khoa Project in northern Vietnam.
Blackstone is pleased to announce the successful completion of lender engagement with select financiers including globally recognised Commercial Banks, Export Credit Agencies (ECAs) and Multilateral Agencies. The engagement follows a round of pre-soundings undertaken in Q4 2021 across a broader suite of potential lenders.
Lender engagement has been managed by Blackstone’s debt financing co-advisors KDB and BurnVoir. KDB and BurnVoir are acting jointly and in collaboration with Blackstone to secure an attractive, flexible funding package for the development of the Ta Khoa Project.
Lender feedback to date has informed Blackstone’s financing strategy and has enabled Blackstone to refine its ongoing technical studies and commercial arrangements including supply agreements, offtake arrangements and project partnering negotiations.
An update on the Ta Khoa partnership model, and supporting project financing, will be provided before year end.
Blackstone Minerals’ Managing Director Scott Williamson commented:
“The feedback generated via our targeted lender engagement strategy has provided valuable intelligence to guide our development of the Ta Khoa Project.
Valuable insights received through this process have already resulted in positive actions that Blackstone has implemented to further de-risk technical, commercial and funding elements of the Project. We look forward to advancing our lender engagement through their due diligence and credit approval processes as we move closer to a final investment decision on Ta Khoa in 2023.
We are pleased to have a world-class group of potential lenders demonstrate their ongoing strong interest in the Ta Khoa Project.”
Authorised by the Managing Director on behalf of the Board of Blackstone Minerals Limited.
For more information please contact: Scott Williamson Managing Director +61 8 9425 5217 scott@blackstoneminerals.com.au
Blackstone Minerals Ltd (ASX: BSX / OTCQX: BLSTF / FRA: B9S) is focused on building an integrated upstream and downstream battery metals processing business in Vietnam that produces NCM Precursor products for Asia’s growing Lithium-ion battery industry. The Company owns a 90% interest in the TKNP. The TKNP is located 160km west of Hanoi in the Son La Province of Vietnam (refer Figure 1) and includes an existing modern nickel mine built to Australian standards, which is currently being used to process nickel ore delivered by the underground bulk sample program. The Ban Phuc nickel mine successfully operated as a mechanised underground nickel mine from 2013 to 2016.
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This article includes content from Blackstone Minerals Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Visual logs1 from the deepest drill-holes completed to date show semi-massive nickel sulphide mineralisation well below the December 2021 Mineral Resource Estimate (MRE) envelope
Centaurus Metals (ASX Code: CTM) is pleased to report outstanding new drill results from ongoing resource growth and development drilling at its 100%-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil.
The results are expected to contribute to an increase in the global Mineral Resource Estimate (MRE), due for delivery at the end of September, as well as to upgrade more of the Jaguar MRE into the higher-confidence Measured and Indicated categories in advance of Ore Reserve estimation as part of the DFS.
Centaurus’ Managing Director, Mr Darren Gordon, said: “The resource development in-fill program has been our focus for the past six months and continues to demonstrate the consistency and quality of the nickel sulphide mineralisation that sits within the planned open pit limits.
“We are confident that these results will push the majority of the upcoming MRE into the higher confidence Measured and Indicated Resource categories that will, in turn, underpin a maiden Ore Reserve Estimate for the Definitive Feasibility Study. This represents a major step to de-risking the Jaguar Project.
“It’s also great to see the existing deposits continuing to grow, with outstanding step-out results of up to 31.7m at 1.61% Ni received from below the current MRE limits at Onça Preta. This is further supported by our deepest hole on the project to date, which stepped-off over 120m down-dip targeting DHEM conductor plates. Visual inspection of this step-out hole has confirmed the presence of semi-massive sulphides.
“We are quickly approaching the completion of the current Resource development in-fill drilling program for the upcoming MRE and, once we do, we will immediately swing the majority of the 15 rigs across to Resource Growth and greenfields discovery drilling – which should make for a very interesting second half of 2022 at Jaguar."
While drilling has so far been focused on the in-fill program that is required for the upgrade and development of the Jaguar Resource, 2-3 rigs have been designated to specifically target resource growth by undertaking step-out drilling at the Onça Preta and Jaguar South Deposits.
The current base of both the Onça Preta and Jaguar South Deposits has now been extended well below the base of the underground operations identified in the May 2021 Jaguar Project Scoping Study, which was already restricted by the base of the March 2021 MRE. Any new resource tonnes generated by step-out drilling are therefore expected to result in growth of the overall MRE and, in time, contribute to future underground operations.
The December 2021 Mineral Resource Estimate (MRE) expanded the Onça Preta Deposit to 5.2Mt at 1.52% Ni for more than 78kt of contained nickel. Onça Preta is the highest-grade deposit at the Jaguar Project.
Step-out drilling continues to intersect semi-massive and massive zones of nickel sulphides including 31.7m at 1.61% Ni and 13.5m at 1.26% Ni in JAG-DD-22-263 on section 476885mE and 22.7m at 1.47% Ni in JAG-DD-22-284 on section 476935mE (Figure 1). Both drill-holes intersected mineralisation below the base of the December 2021 MRE, indicating a likely increase in the MRE due for delivery at the end of September 2022.
Importantly, drill hole JAG-DD-22-3752, the deepest hole drilled to date at Onça Preta, has intersected 20m of semi- massive nickel sulphide mineralisation within a broader mineralised intersection a further 50m down-dip from JAG- DD-22-263, highlighting the potential for further resource growth. For photos of the core and visual estimates of hole JAG-DD-22-375, see Figure 10 and Table 3.
Click here for the full ASX Release
This article includes content from Centaurus Metals (ASX Code: CTM), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Auroch Minerals (ASX:AOU) is pleased to present its investor presentation.
High-grade shallow nickel sulphide resources that are being driven towards development and production to leverage the strong nickel price and the EV demand
Currently evaluating a demerger of non-nickel assets into new listed company to unlock further value for shareholders
Strategic Acquisition: Step change for AOU
Nevada Lithium Project Highly prospective for large sedimentary-hosted lithium deposits
Strategically Located Nickel Sulphide Portfolio
Auroch (ASX:AOU) holds some of the most prospective nickel sulphide tenure in the Norseman-Wiluna Greenstone Belt
Scoping studies underway to realise value from the potential development of existing shallow high grade nickel sulphide resources
Create further value via new nickel sulphide discoveries – exploration and drilling at priority prospects to build resources inventory
Click here for the full ASX Release
This article includes content from Auroch Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Rafaella Resources Limited (ASX:RFR) (‘Rafaella’ or the ‘Company’) is pleased to announce the results of its first field mapping program recently completed by Orix Geoscience, in conjunction with a desk-top review of existing data by SRK Exploration Services on its Canadian projects. This follows the acquisition of the Alotta and Lorraine PGM-Ni-Cu tenement packages (‘Alotta and Lorraine’) located adjacent to Rafaella’s existing Midrim and Laforce PGM-Ni-Cu projects (‘Midrim and Laforce’) in Quebec, Canada (together the ‘Belleterre-Angliers Project’). These programs will focus on high priority magmatic PGM-Ni-Cu mineralisation targets. Early indications suggest these targets lie deeper than those identified through historic exploration.
Managing Director Steven Turner said:“Exploration work in Canada on our exciting PGM- Ni-Cu Belleterre-Angliers Projects is ramping up with field mapping activity validating some of our existing high priority targets and desk top work continuing to reprocess historical data, generating new and highly attractive targets conforming to a new geological model. The Company’s geological model suggests the relatively small but high- grade gabbroic intrusions point to a broader intrusive complex that could host substantial massive and semi-massive sulphide accumulations.
The Company knows that the Belt is fertile with high tenor magmatic PGM-Ni-Cu deposits such as Midrim, Laforce and Alotta. Crucially however, the re-assessment and re- modelling of the underlying feeder zone is creating new excitement internally. We are looking forward to updating the market on the results of the next stage of our focussed high-impact programme.”
Enhanced Canadian Portfolio with Substantial Sulphide Mineralisation
The Company is operating under a geological targeting model that prospective gabbroic intrusions may be mineralised at various positions within and adjacent to the intrusive chonolithic conduit, with relatively small gabbroic intrusions hosting substantial massive and semi-massive sulphide accumulations.
The consolidated Rafaella portfolio consisting of the Midrim, Laforce, Alotta and Lorraine licences covers 157.4 km2 of the eastern part of the Belleterre-Angliers Greenstone Belt (‘BAGB’), located in the Abitibi-Pontiac Greenstone Sub-Province (Figure 1).
Figure 1. Regional Geology of the Belleterre Angliers Project, compiled by SRK ES.
Field Validation of Geophysical Anomalies
A field site visit was undertaken by Orix Geoscience in July 2022 to validate a number of targets defined by VTEM and IP geophysical anomalies in the Midrim and Alotta licence areas (Figure 2). Included in these were two priority 1 targets identified in a recent review undertaken by SRK Exploration in January 2022.
The MRB-01 target lies in the south-eastern portion of the Midrim licence which was defined around a moderate- strength near surface conductor identified in Rafaella’s 2021 VTEM survey. A Maxwell Plate model was generated for this target and a phased drill test program has been planned for the target in the next phase of drilling. No outcrop was observed at the locality, but it was confirmed that there were no obvious cultural sources for the EM anomaly and the target remains a priority.
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This article includes content from Rafaella Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Horizonte Announces Community Development Agreement with Leading National Industrial Training Provider for the Araguaia Project
Horizonte Minerals Plc ("Horizonte" or the "Company") (AIM:HZM)(TSX:HZM), is developing two Tier 1 nickel projects in Brazil and is pleased to announce the signing of a milestone agreement between the Araguaia Nickel Project ("Araguaia") and Brazil's leading national industrial training provider Serviço Nacional de Aprendizagem Industrial ("SENAI") for host community skills training. Under this agreement, a key component of Araguaia's Local Content Initiative, the partners will train and develop local community members in core skills required during Araguaia's construction and operational phases
CEO of Horizonte, Jeremy Martin commented:
"Local content - both local employment and local procurement - is a critical contribution that mines make to community economic development. In partnership with SENAI, it is our objective to up-skill local community members in industry-certified, market-ready, transferable industrial skills, such as welding and electro-mechanical construction. With these enhanced skill sets, host community members will have greater opportunities to participate in the direct and indirect mine workforce; the potential to supply goods and services to mining and broader industry through locally operated companies; and, most importantly, to strengthen the creation of vibrant regional communities."
Non-Executive Director of Horizonte, Dr Gillian Davidson commented:
"I am delighted that to enhance the outreach and impact of this initiative, the Company has set targets for program inclusion, diversity and equality. Participation in the program by local women and youth is strongly supported, to ensure that Horizonte, Araguaia and mine host communities benefit from the unique perspectives, diverse skills and socio-economic development that the empowerment of women and younger people brings."
The partnership program is being delivered as a key element of the Company's wider Araguaia Local Content Initiative.
Under the initiative, the Company is working with the Brazilian National Employment System to register and create a database of local community members interested in participation in the Araguaia workforce. Existing residents of Conceição do Araguaia and Floresta do Araguaia communities will be prioritised for training and development opportunities.
The partnership with SENAI will fully fund over 390 training courses, targeting specific industrial skills development such as welding, as well as broader multi-industry skill sets such as electrical construction, enhancing opportunities for local participation in Araguaia's construction and operational phases as well as participation in other regional industry sector supply chains.
SENAI have partnered with UEPA, which will provide facilities for many of the SENAI training courses.
The wider initiative will also incorporate the development of a local supply chain program, aimed at deepening the capacity of existing suppliers and creating new business opportunities in the region.
In another partnership with SENAI, a study has been completed on the potential uses of slag (a benign ferronickel by-product), highlighting its potential for use in construction and road materials. Elsewhere, slag is widely used as a concrete binder. Horizonte intends to support the local community to advance these beneficial reuse opportunities.
For further information, visitwww.horizonteminerals.comor contact:
Horizonte Minerals plc Jeremy Martin (CEO)
Peel Hunt LLP (Nominated Adviser & Joint Broker) Ross Allister David McKeown
BMO (Joint Broker) Thomas Rider Pascal Lussier Duquette Andrew Cameron
Tavistock (Financial PR) Emily Moss Cath Drummond
Horizonte Minerals plc (AIM & TSX: HZM) is developing two 100%-owned, tier one projects in Pará state, Brazil; the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Both projects are large scale, high-grade, low-cost, low-carbon and scalable. Araguaia is fully funded and in construction. The project will produce 29,000 tonnes of nickel per year to supply the stainless steel market. Vermelho is at feasibility study stage and will produce 25,000 tonnes of nickel and 1,250 tonnes of cobalt to supply the EV battery market. Horizonte's combined near-term production profile of over 50,000 tonnes of nickel per year positions the Company as a globally significant nickel producer. Horizonte is developing a new nickel district in Brazil that will benefit from established infrastructure, including hydroelectric power available in the Carajás Mining District.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the acquisition of equipment as described herein, statements with respect to the potential of the Company's current or future property mineral projects; the ability of the Company to complete a positive feasibility study regarding the second RKEF line at Araguaia on time, or at all, the success of exploration and mining activities; cost and timing of future exploration, production and development; the costs and timing for delivery of the equipment to be purchased as described herein, the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the realization of mineral resource and reserve estimates and achieving production in accordance with the Company's potential production profile or at all. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the acquisition of equipment contemplated herein, on time or at all, the ability of the Company to complete a positive feasibility study regarding the implementation of a second RKEF line at Araguaia on the timeline contemplated or at all, exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates, together with the risks identified and disclosed in the Company's disclosure record available on the Company's profile on SEDAR at www.sedar.com, including without limitation, the annual information for of the Company for the year ended December 31, 2020, the Araguaia Report and the Vermelho Report. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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