Welcome to our dedicated page for Clean Air Metals news (Ticker: CLRMF), a resource for investors and traders seeking the latest updates and insights on Clean Air Metals stock.
Clean Air Metals Inc. (CLRMF) generates frequent news flow as it advances the Thunder Bay North Critical Minerals (TBN) project in Northwestern Ontario. Company announcements cover technical milestones at the platinum, palladium, copper and nickel deposits that underpin its exploration and development strategy.
Investors following CLRMF news can expect detailed updates on drilling programs at the Current and Escape deposits, including assay results, confirmation of high-grade zones and step-out drilling into the down-plunge extension of the Escape ultramafic conduit. Releases describe how geophysical surveys, such as magnetotelluric and borehole EM work, are being used to refine targets along a 2.5 km magnetic trend and to evaluate the potential for significant resource expansion.
News items also highlight economic studies and project evaluation work, notably the Preliminary Economic Assessment (PEA) for Thunder Bay North. These updates summarize the conceptual mine plan, toll-milling scenario, operating assumptions and sensitivity to metal prices, providing context for how the company views the project’s development path within the platinum group metals and copper markets.
In addition, Clean Air Metals issues regular corporate and financial disclosures, including interim financial statements, annual general meeting results, board and management changes, and stock option grants. Many releases emphasize the company’s engagement with local First Nations and Métis organizations, ongoing environmental baseline studies and its alignment with Canadian critical minerals priorities. For investors and observers, the CLRMF news page offers a consolidated view of technical, financial and social developments shaping the Thunder Bay North project over time.
Clean Air Metals Inc. (TSXV:AIR, OTCQB:CLRMF) has announced high-grade drilling results from its Thunder Bay North Critical Minerals Project. Key highlights include:
- 50.7 m of 4.52 g/t Pt, 4.38 g/t Pd, 0.99% Cu and 0.53% Ni in Hole CL24-010
- 38.4 m of 3.38g/t Pt, 3.26g/t Pd, 0.72% Cu and 0.45% Ni in Hole CL24-005
- 23.3 m of 4.54 g/t Pt, 4.23 g/t Pd, 1.11% Cu and 0.60% Ni in Hole CL24-008
The results confirm high-grade mineralization extends beyond the current resource model. The company believes these findings support a more robust, low-tonnage high-grade production model. Clean Air Metals is developing a follow-up exploration program to discover new high-grade zones and support an independent resource estimate of the highest-grade domains in both the Current and Escape deposits.
Clean Air Metals Inc. (TSXV:AIR, OTCQB:CLRMF) has filed its unaudited consolidated interim financial statements for the six-month period ended July 31, 2024. Key financial highlights include:
- Total assets: $37,635,700
- Total cash: $4,194,919
- Working capital: $922,959
- Shareholder's equity: $33,677,958
CEO Mike Garbutt expressed confidence in the company's financial position for project development activities through the end of 2025. The company reported a net loss of $2,289,228 for the six months ended July 31, 2024, compared to $1,908,304 for the same period in 2023. Operating expenses increased to $2,300,444 from $2,073,693 year-over-year. Clean Air Metals anticipates further results from its late summer drill program.
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.