Clean Air Metals Stock Price, News & Analysis

Clean Air Metals Inc. has made a CAD $1 million payment to Rio Tinto Exploration Canada to fulfill a payment requirement for Benton Resources. This is part of a larger CAD $6 million agreement for the Escape Lake Property. Additionally, Clean Air Metals acquired the TBN Property, which includes the Current Lake Deposit, and has committed to CAD $9 million in payments to Magma over three years. The company acknowledges collaboration with local First Nations and recognizes the project's environmental implications.

Clean Air Metals has appointed Dr. Geoff Heggie as the new Exploration Manager, succeeding Allan MacTavish, who will remain as a consultant. Dr. Heggie brings 7 years of experience from the Thunder Bay North Project and contributions from Noront Resources. Recent drilling at the Project revealed impressive assay results, including 21.3m grading 4.80g/t Palladium Equivalents. The company is set to publish a Preliminary Economic Assessment (PEA) in Q4 2021, enhancing its underground mine model based on Current and Escape Lake deposits.

Clean Air Metals has filed its interim financial statements for the six-month period ending July 31, 2021. Key highlights include total assets of $37,696,643, cash of $9,164,586, and working capital of $5,927,070. The company recently closed a $11.5 million private placement and initiated a 30,000 meter diamond drill program at the Thunder Bay North Project. It aims to enhance palladium equivalent resources while also conducting metallurgical studies for a Preliminary Economic Assessment set for Q4 2021.

On September 7, 2021, Clean Air Metals announced positive assay results from its Thunder Bay North Project. Significant findings include Hole ELR21-077, which intersected 76.6m grading 5.67g/t PdEq, featuring high grades of Palladium, Platinum, Copper, and Nickel. The Escape Lake Deposit has expanded and an updated mineral resource is planned for Q1 2022. The Current Lake Deposit shows a well-defined Indicated resource of 1,328,789 PdEq ounces, with a Preliminary Economic Assessment due in Q4. Ongoing metallurgical studies are set to enhance project valuation.

Clean Air Metals Inc. announced promising assay results from its Thunder Bay North Project on Aug. 12, 2021. Key findings include Hole CL21-004 with a 13.0m intersection grading 2.9 g/t PdEq, and Hole ELR21-070 showing 8.0m at 3.3 g/t PdEq. The Current Lake Deposit holds 1,328,789 oz PdEq, while the Escape Lake Deposit features 505,369 oz PdEq, indicating significant mineral resources. A Preliminary Economic Assessment (PEA) is expected by early Q4 2021 based solely on the Current Lake Deposit. The company is also revising its resource estimate for the Escape Lake Deposit in Q1 2022.

On August 3, 2021, Clean Air Metals announced the mobilization of a drill to the Beaver Lake Zone for 2700m of confirmatory infill drilling supporting a Preliminary Economic Assessment (PEA) expected in Q4 2021. The Company has also engaged Generation IACP Inc. for market-making services for six months at $7,500 per month, pending TSX Venture Exchange approval. Clean Air Metals emphasizes adherence to COVID-19 measures for its staff and acknowledges partnerships with local First Nations, enhancing community relations.

Clean Air Metals has announced new assay results from its Escape Lake Deposit at the Thunder Bay North Project, highlighting significant findings from drilling campaigns. Hole ELR21-067 intersected a massive sulphide lens grading 41.2 g/t PdEq with notable metal compositions including 12.9 g/t Pd and 15.5 g/t Pt. Another significant hole, ELR21-041, showed 31.8 g/t PdEq. The mineral resource update shows an indicated resource of 505,369 ounces at 3.67 g/t PdEq. A Preliminary Economic Assessment is expected by Q4 2021, aiming to enhance value for stakeholders.

Clean Air Metals has filed its interim financial statements for Q1 2021, reporting total assets of $37.9 million and cash reserves of $14.2 million as of April 30, 2021. The company closed a private placement generating $11.5 million and initiated a 30,000-meter diamond drilling program at the Thunder Bay North project, targeting new mineralization. Operating expenses for the quarter were $747,134, resulting in a net loss of $47,741. Shareholder's equity stands at $31.3 million. The company emphasizes ongoing exploration efforts amid COVID-19 precautions.

Clean Air Metals has filed audited financial statements for the year ending January 31, 2021, revealing total assets of $27,146,884 and cash of $6,678,356. The company reported a net loss of $1,273,525 compared to a loss of $1,135,819 in the previous year. Key activities included a C$1 million payment to secure exploration rights and a significant increase in mineral resources, with 16,285,396 tonnes yielding 1,834,158 ounces of PdEq. Clean Air Metals continues its exploration efforts with partnerships and investments aimed at enhancing its project viability.