ADTFF Stock Price, News & Analysis

iMetal Resources has announced the mobilization of a drill rig to the Gowganda West project for the fall 2022 drilling campaign. This exploration-stage gold project is located 100 km south-southeast of Timmins, Ontario. The aim is to follow up on promising gold intervals found in previous drilling, with notable results such as 0.37 g/t gold over 29.4 metres. The company will also assess a 6-kilometre gold trend for additional targets. The CEO highlighted the opportunity to explore in an area close to a significant gold deposit.

iMetal Resources has received a three-year drill and exploration permit for its 100% owned Gowganda West gold property in Ontario, marking a significant milestone. The permit allows for 15 km of induced polarization surveying, trenching at up to 25 locations, and the establishment of greater than 20 drill pads. The upcoming 2022 drill program plans to explore a 6 km gold trend with historical values up to 67.9 g/t Au. This follows extensive previous exploration, including diamond drilling.

iMetal Resources Inc. (OTC PINK: ADTFF) announced the completion of a drone magnetics survey at its Ghost Mountain property in Ontario, spanning 220 hectares. This survey aims to generate exploration targets based on recent success at nearby mines. Historical drilling indicates potential for mineralization despite a lack of assay results. The company will investigate anomalies identified in the survey with field crews. The project is part of iMetal's efforts to enhance its resource portfolio in the Abitibi Greenstone Gold Belt.

iMetal Resources Inc. has successfully completed a non-brokered private placement, raising $3 million through the issuance of 16,666,667 NFT Units at $0.12 each and 6,666,667 FT Units at $0.15 each. The funds will primarily support the development of the Gowganda West Project and the Kerrs Gold Deposit. Additionally, the company granted 2,000,000 incentive stock options at a price of $0.33 to certain directors and officers. All securities are subject to a hold period until August 8, 2022.

iMetal Resources Inc. (TSXV:IMR)(OTC PINK:ADTFF) announced TSX Venture Exchange approval to acquire the Kerrs Gold Deposit, a 665 hectare site in Ontario's Abitibi Greenstone Gold Belt. The deposit contains a historical resource estimate of 7,041,460 tonnes grading 1.71 g/t gold, equating to 386,467 ounces at a 0.5 g/t cut-off. The acquisition includes issuing 3,500,000 common shares and cash payments totaling $210,000 to the vendors. iMetal plans to use financing to update the resource estimate and conduct further drilling.

iMetal Resources Inc. (OTC PINK: ADTFF) has announced an increase to its non-brokered private placement due to strong market interest. The company will now offer up to 16,666,667 units at $0.12 each, potentially raising $2,000,000. Additionally, up to 6,666,667 flow-through units are available at $0.15 each for $1,000,000 more. Proceeds will support the development of the Gowganda West Project and the Kerrs Gold Deposit. This placement is subject to TSXV approval.

iMetal Resources announces a non-brokered private placement of up to 16,666,667 units at $0.12 each, aiming for gross proceeds of $2,000,000. Each unit consists of one common share and a warrant for an additional share at $0.20 for two years. A portion will be flow-through units priced at $0.15, which qualify for tax benefits. Proceeds will fund exploration at the Gowganda West property and general working capital. Additionally, the company engages Independent Trading Group for market-making services at $5,000 monthly, enhancing liquidity.

iMetal Resources has signed an agreement to acquire the Kerrs Gold Deposit, spanning 665 hectares in Ontario's Abitibi Greenstone Gold Belt. The deposit features a historical resource estimate of 7,041,460 tonnes at 1.71 g/t gold, totaling approximately 386,467 ounces of gold. To finalize the acquisition, iMetal will issue 3.5 million shares and make cash payments totaling $210,000 over three years. Additionally, a non-brokered private placement of up to 18.5 million units at $0.11 per unit is planned, aiming to raise $2,035,000.

iMetal Resources announces a share consolidation on a five-for-one basis, effective January 13, 2022. The company will reduce its common shares from 51,730,372 to approximately 10,346,075 post-consolidation. The new trading format will begin on January 14, 2022, under the existing ticker symbol IMR. Shareholders will not receive fractional shares; instead, fractions will be rounded to the nearest whole number.