Minnova Corp. Announces Adoption of Amended LTIP
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) announced the approval of amendments to its Omnibus Long-Term Incentive Plan by shareholders, with additional housekeeping amendments pending TSX Venture Exchange approval. The company also detailed development plans for its PL Gold Mine, an advanced-stage project with a 1,000 tonnes-per-day processing plant.
The company outlined a two-stage development approach managed by A&B Global Mining (ABGM): Stage 1 focuses on mining concept development, including resource modeling and NI 43-101 compliance, while Stage 2 involves a Class 3 Feasibility Study to be completed in 2026. The development plan prioritizes lower-cost open pit mining methods and includes metallurgical testing for potential grade improvements and cost reductions.
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ha comunicato che gli azionisti hanno approvato modifiche al suo Omnibus Long-Term Incentive Plan; ulteriori modifiche di natura amministrativa sono in attesa del via libera della TSX Venture Exchange. La società ha inoltre illustrato i piani di sviluppo per la miniera PL Gold, un progetto avanzato dotato di un impianto di trattamento da 1.000 tonnellate al giorno.
Lo sviluppo seguirà un approccio in due fasi gestito da A&B Global Mining (ABGM): la Fase 1 riguarda lo sviluppo del concetto di sfruttamento, compresa la modellazione delle risorse e la conformità al NI 43-101; la Fase 2 prevede lo svolgimento di uno studio di fattibilità di Classe 3 entro il 2026. Il piano privilegia metodi di scavo a cielo aperto a costi inferiori e include prove metallurgiche per valutare possibili miglioramenti di tenore e riduzioni dei costi.
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) anunció que los accionistas aprobaron enmiendas a su Omnibus Long-Term Incentive Plan; otras enmiendas de carácter administrativo están pendientes de la aprobación de la TSX Venture Exchange. La compañía también detalló los planes de desarrollo para la mina PL Gold, un proyecto en fase avanzada con una planta de procesamiento de 1.000 toneladas por día.
El desarrollo seguirá un enfoque en dos etapas gestionado por A&B Global Mining (ABGM): la Etapa 1 se centra en el desarrollo del concepto de minería, incluida la modelización de recursos y el cumplimiento del NI 43-101; la Etapa 2 comprende un Estudio de Factibilidad de Clase 3 que se completará en 2026. El plan prioriza métodos de minería a cielo abierto de menor coste e incluye ensayos metalúrgicos para evaluar posibles mejoras de ley y reducciones de coste.
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF)는 주주들이 자사의 Omnibus Long-Term Incentive Plan 개정을 승인했으며, 추가적인 사무적 개정안은 TSX 벤처 거래소의 승인을 기다리고 있다고 발표했습니다. 회사는 또한 일일 처리능력 1,000톤의 공정을 갖춘 고도 단계 프로젝트인 PL Gold 광산의 개발 계획을 공개했습니다.
개발은 A&B Global Mining(ABGM)이 관리하는 2단계 접근법으로 진행됩니다. 1단계는 자원 모델링과 NI 43-101 준수를 포함한 채굴 개념 개발에 중점을 두고, 2단계는 2026년까지 완료될 Class 3 실현가능성 조사를 포함합니다. 개발 계획은 저비용 노천 채굴 방식을 우선시하며, 품위 개선 및 비용 절감을 위한 야금학적 시험도 포함됩니다.
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) a annoncé que les actionnaires ont approuvé des modifications de son Omnibus Long-Term Incentive Plan ; d'autres ajustements administratifs sont en attente de l'approbation de la TSX Venture Exchange. La société a également présenté les plans de développement de la mine PL Gold, un projet avancé doté d'une usine de traitement de 1 000 tonnes par jour.
Le développement suivra une approche en deux phases pilotée par A&B Global Mining (ABGM) : la Phase 1 porte sur l'élaboration du concept minier, incluant la modélisation des ressources et la conformité au NI 43-101 ; la Phase 2 comprend une étude de faisabilité de classe 3 qui devrait être finalisée en 2026. Le plan privilégie des méthodes d'exploitation à ciel ouvert moins coûteuses et inclut des essais métallurgiques pour évaluer d'éventuelles améliorations de teneur et des réductions de coûts.
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) gab bekannt, dass Aktionäre Änderungen an ihrem Omnibus Long-Term Incentive Plan genehmigt haben; weitere formale Änderungen stehen noch unter dem Vorbehalt der Genehmigung durch die TSX Venture Exchange. Das Unternehmen stellte außerdem die Entwicklungspläne für die PL Gold Mine vor, ein fortgeschrittenes Projekt mit einer 1.000 Tonnen pro Tag aufnehmenden Aufbereitungsanlage.
Die Entwicklung soll in zwei Phasen unter der Leitung von A&B Global Mining (ABGM) erfolgen: Phase 1 umfasst die Entwicklung des Bergbaukonzepts, einschließlich Ressourcenmodellierung und NI 43-101-Konformität; Phase 2 sieht bis 2026 eine Class-3-Finanzierbarkeitsstudie (Feasibility Study) vor. Der Plan priorisiert kostengünstigere Tagebaumethoden und umfasst metallurgische Tests zur Prüfung möglicher Erzgang-Verbesserungen und Kostensenkungen.
- None.
- Feasibility study completion not expected until 2026
- Additional technical work and studies required before production decision
- Project requires securing development funding
Toronto, Ontario--(Newsfile Corp. - August 28, 2025) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company") announces that the proposed amendments to the Company's Omnibus Long-Term Incentive Plan (the "Plan") were approved by shareholders at the annual meeting of shareholders held on January 22, 2025, and which amendments were set out in the Company's management information circular for the meeting. Certain additional housekeeping and clerical amendments are currently being incorporated into the Plan, subject to approval from TSX Venture Exchange (the "Exchange"). Upon receipt of Exchange approval, a copy of the further amended Plan will be available on SEDAR+ under the Company's profile at www.sedarplus.ca.
PL Gold Mine: Poised for Advancement
The PL Gold Mine is an advanced-stage development project with significant existing infrastructure, including a 1,000 tonnes-per-day (tpd) processing plant, over 7,000 meters of underground ramp development, and a valid underground mining permit.
Planning for technical programs at the PL Gold Mine continues to advance with a focus on a revised mine development plan based on the full 1,000 tpd mill capacity, which prioritizes lower-cost open pit mining methods in the initial years of operation. In addition to surface exploration and infill drilling, the Company believes updated metallurgical test work to include ore sorting and gravity recovery studies could have a positive impact on the project by potentially increasing grades, improving recovery, and lowering processing costs.
The work programs planned for 2025 and 2026 will help to advance the PL Gold Mine and inform a future feasibility study to be completed in 2026. Key development activities will include:
- Diamond drilling to expand resources and upgrade reserves.
- An updated Mineral Resource Estimate.
- A revised mine development plan prioritizing open pit mining.
- Updated metallurgical test work.
- An updated, comprehensive Feasibility Study.
A&B Global Mining Scope of Work
ABGM will initially manage the project's technical advancement in two distinct stages:
Stage 1: Mining Concept Development
This initial stage will establish the foundational data and models required for advanced engineering and economic studies. Key deliverables include:
- An audited and signed-off drilling database.
- Updated geological and resource models.
- A NI 43-101 compliant Mineral Resource Estimate.
- A comprehensive internal mining concept study report.
- A detailed roadmap for Stage 2.
Stage 2: Class 3 Feasibility Study
Following the successful completion of Stage 1, ABGM will undertake a full Feasibility Study to Class 3 engineering standards. This stage will provide the detailed engineering and financial analysis required for a financial analysis and a future production decision. Key deliverables include:
- Detailed mining design and layout (open pit and underground).
- A 3D mine plan and schedule.
- Mine engineering and infrastructure layout.
- Basic engineering.
- A NI 43-101 compliant Mineral Reserves Estímate.
- Detailed capital and operating cost estimates and financial models.
- A final NI 43-101 Technical Report and Feasibility Study.
Mr. Glenn concluded, "The structured, two-stage approach being executed by ABGM is precisely what is needed to move the PL Gold Mine forward. ABGM will ensure highest QA/QC standards in data collection and analysis and will provide a high-quality, independent technical validation of the PL Gold Mine project required to secure development funding and execute on our vision of restarting the mine. We look forward to working closely with the ABGM team and updating our shareholders as we achieve key milestones."
About Minnova Corp.
Minnova Corp. is focused on the restart of its PL Gold Mine and completed a positive Feasibility Study in 2018, based on a gold price of US
About A&B Global Mining
A&B Global Mining Pty. (Ltd.) (ABGM) is a premier mining consultancy with deep expertise across the mining life cycle. With a track record of success on projects around the globe, ABGM provides integrated, innovative, and practical solutions in geology, mine engineering, and project management to help clients maximize the value of their mineral assets.
ABGM welcomes the opportunity to collaborate with Minnova and believes that their organisation is well-positioned to add significant value to this initiative. Their team comprises highly skilled professionals with extensive experience in exploration, resource estimation, technical reporting, and project implementation across multiple commodities and jurisdictions, including Africa. We are confident in our ability to deliver high-quality outputs in line with Minnova's strategic objectives.
ABGM has a proven track record of delivering high-quality technical support to international clients, including the successful design of exploration programmes, validation of resource models and the preparation of technical documentation that has underpinned both internal investment decisions and external market disclosures.
Qualified Person
Mr. Chris Buchanan, M. Sc., P. Geo., a consultant of the Company and a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
For more information, please contact:
Minnova Corp.
Gorden Glenn
President & Chief Executive Officer
Tel: (647) 985-2785
For further information, please contact Investor Relations: info@minnovacorp.ca.
Visit our website at www.minnovacorp.ca.
Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264359
FAQ
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