RIO - Exploring Mining Podcast Episode 143
Point Roberts, WA and Delta, BC - February 17, 2021 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast , featuring stock news from TSX, TSXV, CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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Exploring Mining Podcast Episode 143: News from (TSXV: DEFN) (OTCQB: DFMTF) (NYSE: RIO) (NYSE: GOLD) (TSXV: AAG)
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Defense Metals Corp. ( TSXV:DEFN ) ( OTCQB:DFMTF ) has received additional pre-pilot hydrometallurgical test work utilizing high-grade rare earth element (REE) mineral concentrate. Highlights include: increased REE extraction from 91.5% to 97.3% from flotation concentrate, decreased REE losses, and flowsheet simplification. The company's CEO, Craig Taylor, said:
"Our decision to conduct additional infill hydrometallurgical test-work has yielded significant REE recovery gains approaching 100% REE extraction from the flotation concentrate. Perhaps more importantly, this additional testing has advanced the Wicheeda REE separation flowsheet such that we are able to "tune" process variables (chiefly: grind size, acid, and caustic concentrations) to achieve a balance of minimizing REE leach losses and maximizing impurity removal. This level of process control will de-risk our planned hydrometallurgical pilot plant and contribute to greater flexibility in design of a future commercial-scale hydrometallurgical plant.
Rio Tinto Group ( NYSE:RIO ) announced to the Australian Securities Exchange estimate updates to Mineral Resources and Ore Reserves at its Pilbara iron ore deposits in Western Australia, Rio Tinto Aluminium (RTA) Pacific Operations' Weipa and Gove assets in Australia, and Mineral Resources at the Kennecott Copper operation in Utah. Additionally, the company's Board has approved a total dividend of 557 US cents per share including a special dividend of 93 US cents per share. Rio Tinto CEO Jakob Stausholm said:
"Safe and well-run operations, together with world-class assets, great people, capital discipline and a strong balance sheet, leave Rio Tinto well placed to generate superior returns for shareholders, invest in sustaining and growing our portfolio, and make a broader contribution to society."
Barrick Gold Corporation ( NYSE:GOLD ) has reached an agreement to sell its 100 percent interest in the Lagunas Norte mine in Peru to Boroo Pte Ltd, a privately-held investment holding company, for a total consideration of up to $81 million. According to the press release , "the total consideration consists of an up-front cash payment of $20 million, additional cash consideration of $10 million payable on the first anniversary of closing and $20 million payable on the second anniversary of closing, a 2% net smelter return royalty on gold and silver produced through the refractory sulphide ore project, which will terminate once one million ounces of gold has been produced and which may be purchased by Boroo for a limited period of time after closing for $16 million, plus a contingent payment of up to $15 million which is based upon the average gold price per ounce for the two-year period immediately following closing."
Aftermath Silver Ltd. ( TSXV:AAG ) has commenced field work at the Challacollo Silver-Gold project in northern Chile. The project will test material outside of the high-grade structures that formed the Mineral Resource Estimate, and Aftermath also plans to "undertake preliminary metallurgical leach testwork on composites from this sampling program." The company's President and CEO, Ralph Rushton, said:
"Following the highly successful resource estimate which added tremendous value to Challacollo, the next phase of our concept for the project is to test the hangingwall sequence where historically only visible structures were sampled. This sampling program is an important next step in our exploration and engineering efforts at Challacollo. If successful, the program will help further refine the objectives of the planned drilling at Challacollo."
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