Clean Air Metals Stock Price, News & Analysis

Clean Air Metals Inc. (TSXV:AIR, OTCQB:CLRMF) has announced impressive assay results from its Thunder Bay North Critical Minerals Project. Highlights include:

• Hole CL24-001: 51.79 m of 4.92 g/t Pt, 4.66 g/t Pd, 1.07% Cu and 0.55% Ni
• Hole CL24-003: 31.40 m of 4.22g/t Pt, 4.04g/t Pd, 0.95% Cu and 0.56% Ni

These results expand near-surface high-grade mineralization beyond previous resource models. The company aims to improve project economics by defining high-value mineralization within the Current and Escape deposits. CEO Mike Garbutt expressed enthusiasm about the exceptional grades, mineable widths, and near-surface location supporting future development. The drilling program targets near-surface, high-grade zones to improve continuity and total mineral resources.

Clean Air Metals Inc. (TSXV:AIR, OTCQB:CLRMF) has announced a 1,600-metre drilling program at its Thunder Bay North Critical Minerals project. The program, set to begin in early August, will target near-surface high-grade zones within the Current deposit. The company aims to better define lateral continuity and tonnage potential of these zones.

Key findings from a recent technical review suggest that high-grade intersections at TBN have a regular periodicity, potentially related to flow processes similar to alluvial gold deposits. The company believes that tighter drill spacing in these areas could result in increased tonnage and grade.

The drilling program will focus on three shallow, high-grade areas with existing intersections, including one with 5.02 g/t Pt, 4.84 g/t Pd, 1.18% Cu and 0.56% Ni over 51 m. Results will guide future exploration and resource delineation efforts, as well as potential bulk sampling locations.

Clean Air Metals Inc. (TSXV:AIR, FRA:CKU, OTCQB:CLRMF) held its Annual General Meeting on July 29, 2024, where shareholders approved several key matters. The number of directors was set at six, with James Gallagher, Dean Chambers, David Peck, and Mike Garbutt elected as directors for the ensuing year. Manning Elliott LLP was appointed as the Company's Auditor. Notably, Shannin Metatawabin and MaryAnn Crichton were not re-elected as directors, receiving less than majority support. Jim Gallagher, Non-Executive Chair, expressed gratitude for their past contributions and stated that the Board does not plan to fill the remaining director vacancies at this time, given the current skill sets and company size.

Clean Air Metals (TSXV:AIR; FRA:CKU; OTCQB:CLRMF) announced the granting of 2,000,000 incentive stock options to key officers, employees, and consultants. These options are exercisable at $0.055 per share for five years from the grant date, pending regulatory approval. This move is aimed at incentivizing and retaining key personnel within the company.

Clean Air Metals announced the closing of a non-brokered private placement, raising approximately $440,015 through the issuance of 8,000,272 units at $0.055 per unit. Each unit includes one common share and half a warrant, allowing the holder to purchase an additional share at $0.08 within 24 months. The funds will be used for Canadian exploration expenses on the company's projects in Ontario. The offering is subject to TSX-V final approval. Red Cloud Securities acted as a finder and will receive $24,000.90 and 509,110 warrants. Certain insiders also participated, subscribing for 727,272 units.

Clean Air Metals announced the filing of its unaudited consolidated interim financial statements and management's discussion and analysis for the three-month period ending April 30, 2024.

Key financial highlights include total assets of $38.55 million, total cash of $5.21 million, and working capital of $2.27 million as of April 30, 2024. Shareholder equity stood at $34.86 million.

For the three months ended April 30, 2024, the company reported operating expenses of $863,264 and a net loss of $863,264, compared to operating expenses of $977,172 and a net loss of $905,500 in the same period the previous year.

Total assets decreased from $39.21 million as of January 31, 2024, to $38.55 million as of April 30, 2024, while total liabilities increased from $3.48 million to $3.69 million over the same period.

Full details are available on SEDAR+.

On May 30, 2024, Clean Air Metals announced that Mike Garbutt will become the new President and CEO effective July 1, 2024. Garbutt, who has served as COO and contributed significantly to the company's strategic vision, will succeed Jim Gallagher. Gallagher will assume the role of Non-executive Chair of the Board, replacing Dean Chambers. The company remains focused on platinum group elements (PGEs) and associated copper exploration in Northern Ontario, aiming to capitalize on the upcoming commodities super cycle. Clean Air Metals reports a strong cash position and strategic planning for resource base expansion through potential acquisitions.

Clean Air Metals is set to present a live virtual corporate update on May 21, 2024, at 2:00 PM ET, hosted by Red Cloud Financial Services. The event will cover the company's latest developments, focusing on their work with Platinum Group Metals (PGM). The presentation will include a live Q&A session, allowing shareholders and interested parties to engage directly. A replay will be available to all registrants and on the Red Cloud website. This is an important opportunity for stakeholders to gain insights into the company's progress and future plans.

Clean Air Metals Inc. announces senior management changes, with Dr. Geoff Heggie leaving and Dr. Lionnel Djon joining as the new VP of Exploration. Kris Tuuttila is promoted to VP of Sustainability and Community Relations, and Mia Boiridy joins as Director of Communications and Investor Relations. The company is reviewing potential acquisitions in Northern Ontario. The PR emphasizes the importance of Indigenous partnerships and social engagement.