Leading Edge Stock Price, News & Analysis

Leading Edge Materials Corp. (TSXV: LEM) (OTCQB: LEMIF) has initiated exploration diamond drilling at its Bihor Sud Project in Romania. The primary goal is to identify a large-scale, potentially mineable body of mineralization. Initial findings indicate strong potential for significant polymetallic mineralized zones with evidence of extension in both strike and depth.

Drilling will begin in gallery G7, targeting Cobalt-Nickel-Gold mineralization zones reported in late 2023, before moving to gallery G2. The Company's new Chief Geologist is on-site managing the exploration program. Previous assay results from G7 showed high-grade samples including 6.7% Cobalt, 13.0% Nickel, and 7.5 g/t gold. In gallery G2, extensive Zinc-Lead-Silver-Copper mineralization zones were identified, with a zinc-equivalent average grade of 7.34% from ten chip samples.

Leading Edge Materials Corp. (TSXV: LEM) reported its Q3 2024 results ending July 31, 2024. Key highlights include:

- Appointment of Kurt Budge as CEO on May 19, 2024
- Discovery of extensive Zn-Pb-Ag+/-Cu mineralization at Bihor Sud Project in Romania
- Closing of first tranche of private placement, raising CAD$3,440,000

Financial results:
- Q3 2024 net loss: $822,238 (compared to Q2 2024 net loss of $859,529)
- Working capital as of July 31, 2024: $3,973,458
- Total assets: $28,454,783

The company is maintaining its Woxna Graphite Mine on a 'production-ready' basis and evaluating a potential restart. It's also advancing the Norra Kärr HREE Project and Bihor Sud Nickel-Cobalt Exploration Project. The company anticipates sufficient funding for corporate administration but will need additional capital for operations and project development.

Leading Edge Materials Corp. (LEMIF) has received a 30-day extension from TSX Venture Exchange to close its private placement, with the new expiry date set for September 27, 2024. The company previously announced plans to raise up to C$4,500,000 through a non-brokered private placement of up to 45,000,000 units at C$0.10 per unit. Each unit consists of one common share and one warrant, with each warrant allowing the purchase of an additional share at C$0.20 for four years.

On July 23, 2024, the company closed the first tranche, issuing 34,400,000 common shares for gross proceeds of CAD$3,440,000. The funds will be used for projects in Sweden and Romania, as well as general working capital. The private placement is directed towards Canadian, Nordic, and other international investors, with a minimum investment of EUR 100,000 for EEA investors.

Leading Edge Materials Corp. (LEMIF) has submitted an application for Strategic Project designation for its Norra Kärr Heavy Rare Earths (HREE) Project. The European Commission is expected to announce the first list of Strategic Projects in December 2024. Norra Kärr could potentially contribute to the EU's needs for a secure, resilient, and sustainable supply chain for permanent magnets manufacturing.

The project has been redesigned to increase resource utilization, improve environmental factors, and minimize local footprint. A new Exploitation Concession application is planned for Q4 2024. Norra Kärr is considered a mineral deposit of national interest by the Swedish Geological Survey and could be the EU's first step in HREE primary production, reducing dependency on China. The project aligns with the EU's Critical Raw Materials Act, which aims to ensure a secure and sustainable supply of critical raw materials.

Leading Edge Materials Corp. (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) has closed the first tranche of its previously announced private placement, raising CAD$3,440,000 by issuing 34,400,000 common shares at $0.10/share. Each unit includes one common share and one purchase warrant, exercisable at $0.20 for four years. The company plans to use the proceeds for projects in Sweden and Romania, as well as working capital. Insiders, including director Eric Krafft, participated significantly in the placement. Mr. Krafft now owns approximately 37.97% of the company's shares on a non-diluted basis. The private placement is subject to TSX Venture Exchange approval and includes a hold period until November 24, 2024.

Leading Edge Materials Corp. (LEMIF) announces a non-brokered private placement of up to 45,000,000 units at C$0.10 per unit, aiming to raise up to C$4,500,000. Each unit consists of one common share and one warrant, exercisable at C$0.20 for four years. The company plans to use the proceeds for projects in Sweden and Romania, as well as working capital. The placement is directed towards Canadian, Nordic, and international investors, with a minimum investment of EUR 100,000 for EEA investors.

The private placement is subject to regulatory approvals, including TSX Venture Exchange approval. Insiders may participate, constituting a related party transaction, but the company expects to rely on exemptions from formal valuation and minority shareholder approval requirements. The securities will have a four-month hold period and are not registered under U.S. securities laws.

Leading Edge Materials reported its second-quarter results for the period ending April 30, 2024. The company reported a net loss of $859,529, an increase from the $685,928 loss in the previous quarter but a decrease from the $1,235,603 loss in the same period last year. The increase in loss from the previous quarter was mainly due to higher share-based compensation expenses, foreign exchange losses, and net mark-to-market adjustment losses. The company has working capital of $1,610,635 and total assets of $24,991,481. Recent announcements include the appointment of Kurt Budge as CEO and the identification of extensive mineralization at the Bihor Sud Project in Romania. The company is also considering a restart of the Woxna Graphite Mine and exploring various projects under the EU's Critical Raw Materials Act.

Leading Edge Materials reports extensive Zn-Pb-Ag mineralization in Romania's Bihor Sud Project. Over 8 km of galleries in G2 have been accessed, revealing significant mineralization. A silver-rich zone in G7 is noted. A 1,500 m Co-Ni drill program will begin in G7 in July 2024, followed by a 6,000 m program in G2. The G2 gallery reveals Pb-Zn grades of several percent and notable silver grades. Chip samples showed a Zn-equivalent average grade of 7.34%. The company's underground mapping and sampling continue, with drilling set to start later in the year.

Leading Edge Materials has appointed Kurt Budge as CEO, effective May 19, 2024. Budge brings 30 years of mining experience, including a recent tenure as CEO of Beowulf Mining. The company is focused on obtaining a Strategic Project designation for its Rare Earth Elements at Norra Kärr in Sweden under the EU Critical Raw Materials Act. Other key projects include the Woxna graphite mine in Sweden and the Bihor Sud nickel and cobalt exploration project in Romania. The board is optimistic about Budge's leadership and the potential for significant value creation.