Clean Air Metals Stock Price, News & Analysis

Clean Air Metals Inc. (OTCQB: CLRMF) has released its interim financial results for the period ending July 31, 2022. Key highlights include total assets of $42.67 million, total cash of $3.13 million, and a working capital of $2.25 million. The company raised $12.5 million through a private placement and completed significant drilling activities on its Thunder Bay North Critical Minerals Project.

Additionally, the company announced the kickoff of a Prefeasibility Study and appointed Mike Garbutt as COO to oversee the project's development.

Clean Air Metals has released promising assay results from its 2022 drilling campaign at the Thunder Bay North Project. Highlights include Hole CLM22-007, which intersected 19.0m grading 3.92g/t Pt and 3.90g/t Pd, demonstrating strong mineralization. Additional results from other holes also indicate strong grades of platinum, palladium, copper, and nickel. The company continues its prefeasibility study with a technical report expected in mid-2023. DRA Americas and SLR Consulting have been engaged for metallurgical testing and resource validation, respectively, indicating further potential for the project.

Clean Air Metals Inc. announced promising new assay results from its 2022 drill campaign at the Thunder Bay North Project. Notable findings include a 19.0m intersection grading 2.04g/t Platinum, 2.52g/t Palladium, 0.87% Copper, and 0.45% Nickel at the Escape deposit. At the Current deposit, a 12.0m intersection yielded 2.28g/t Platinum and 2.14g/t Palladium. The company is engaging DRA for metallurgical testing and SLR for resource validation to optimize project feasibility. The upcoming virtual roadshows will present further insights, with participation encouraged for stakeholders.

Clean Air Metals Inc. (OTCQB: CLRMF) will hold its Annual General Meeting (AGM) virtually on July 27, 2022, at 9:00 am ET. Shareholders can attend online or by phone and must vote by the deadline of July 25, 2022, at 9:00 am ET. The company emphasizes its commitment to economic reconciliation with Indigenous communities, engaging Indigenous-owned vendors for technical and environmental work. Clean Air Metals is focused on the Thunder Bay North Critical Mineral Project, boasting strong economic metrics, including a pretax NPV of C$425 million and an IRR of 31% over a 10-year mine life.

Clean Air Metals filed its unaudited interim financial results for the quarter ended April 30, 2022. Key highlights include total assets of $45.35 million, cash reserves of $7.27 million, and working capital of $5.86 million. The company raised approximately $12.5 million via a private placement and completed 34 drill holes totaling 13,103 m on the Escape Deposit. The net loss for the quarter was $560,871, compared to a loss of $47,741 in the previous year, which reflects increased operational expenses of $1.1 million.

Clean Air Metals has announced positive assay results from its 2022 drill campaign at the Thunder Bay North Project in Ontario, with notable grades from the Escape and Current PGE-Cu-Ni deposits. Key highlights include 70.5m grading 1.18g/t Platinum and 1.52g/t Palladium from the Escape South deposit, and 25.0m grading 2.01g/t Platinum and 2.57g/t Palladium from the Current deposit. The ongoing drilling aims to enhance the known dimensions and resources, with DRA selected for metallurgical testing, potentially improving project viability.

Clean Air Metals has filed its audited financial statements for the year ended January 31, 2022. Key financial highlights include total assets of $35,059,465, cash of $542,573, and a working capital deficit of $1,632,099. The company raised approximately $12.5 million through a private placement shortly after the filing. During the year, significant drilling activities and environmental studies were conducted for the Thunder Bay North Project, which has a pretax NPV5 of C$425m and an IRR of 31%.

Clean Air Metals announced assay results from its 2022 drilling campaign at the Escape PGE-Cu-Ni Deposit in Thunder Bay, Ontario. Notable intersections include 39.0m grading 1.17g/t Platinum and significant Copper and Nickel content from hole ELR22-137. The drilling has confirmed resource continuity, potentially increasing the indicated mineral resource of 8.12 g/t PtEq. The company made a C$1.5 million payment to Panoramic Resources, moving towards full ownership of the project. DRA Americas has been appointed for pre-feasibility studies, with a study expected by Q2 2023.

Clean Air Metals has appointed Mike Garbutt as the new Chief Operating Officer, effective immediately, enhancing its leadership with his extensive mining and operations experience. Mr. Garbutt, previously Deputy General Manager of a major mine in Ontario, brings significant expertise in mine engineering and operational excellence. The appointment aligns with the company’s commitment to advance the Thunder Bay North Project, which has a projected NPV of C$425 million. Clean Air Metals has also granted 1,000,000 stock options to Mr. Garbutt at $0.22 per share.