Welcome to our dedicated page for Pacific Bay Mine news (Ticker: PBMFF), a resource for investors and traders seeking the latest updates and insights on Pacific Bay Mine stock.
Pacific Bay Minerals Ltd. (PBMFF) generates news primarily through its exploration and corporate activities as a junior mineral exploration company. Its disclosures highlight work on critical minerals and gold projects in British Columbia and efforts to evaluate and acquire gold properties in Brazil. Readers following PBMFF news can review updates on field programs, option agreements, financings, and management changes that shape the company’s exploration strategy.
Company news releases describe the Haskins-Reed Critical Minerals Project in northwestern British Columbia as Pacific Bay’s flagship asset, with polymetallic mineralization including tungsten, copper, bismuth, silver, lead, and zinc. News coverage includes announcements about mobilizing exploration crews, reporting historical drilling highlights, and commenting on government support for critical minerals in the region. For the Weaver Gold Project in southern British Columbia, news items discuss the project’s orogenic gold-silver potential and a Letter of Intent under which Aurwest Resources Corporation may earn a 50% interest through staged payments and exploration work.
Pacific Bay’s news flow has also included detailed updates on its proposed, and later discontinued, acquisition of the Pereira Velho gold project in Alagoas State, Brazil. These releases cover the terms of a non-binding Letter of Intent, historical exploration results, a historical resource estimate filed with the Brazilian National Mining Agency, metallurgical testing, and the eventual decision by the vendor to option the property to another buyer. Additional company announcements address private placement financings, warrant terms, trading halts and resumptions on the TSX Venture Exchange, and changes to executive roles such as the appointment of a new Chief Financial Officer or changes in the President and CEO role.
Investors and observers can use the PBMFF news page on Stock Titan to review this sequence of exploration, transaction, and corporate updates in one place. The feed helps contextualize Pacific Bay’s evolving project portfolio, its focus on critical minerals and gold, and the regulatory and financing steps that accompany early-stage mineral exploration.
Pacific Bay Minerals (TSXV: PBM) has announced key organizational changes and provided an update on its Brazilian project. The company has appointed Philip Ellard, CPA as its new Chief Financial Officer, replacing Leanora Brett, who will continue as Corporate Secretary. Ellard, who holds a Bachelor of Commerce Honours from UBC, brings expertise in financial reporting, go-public processes, and regulatory support services.
The company also updated shareholders on its Pereira-Velho Gold Project acquisition in Alagoas, Brazil. The TSX Venture Exchange is currently reviewing the proposed 100% interest option acquisition announced on January 7th, 2025. Trading of company shares remains suspended pending the Exchange's satisfactory review of technical information, which will be disclosed prior to trading resumption.
Pacific Bay Minerals (TSXV: PBM) has signed a non-binding Letter of Intent (LOI) with Appian Capital Advisory LLP to acquire 100% of the Pereira-Velho gold prospect in Alagoas State, Brazil. The project encompasses 11 mineral claims totaling 14,596 hectares.
The acquisition terms include CAD $710,000 in cash payments and CAD $700,000 worth of Common Shares or cash, to be paid in two tranches over one year. Appian will retain a 1.5% net smelter royalty, which can be purchased back for USD$3.5 million.
The project features mineralization at surface, hosted in fractured quartzites with low clay content, suggesting potential for a low-stripping ratio deposit. The area has access to infrastructure and an experienced local workforce. The transaction is subject to TSX Venture Exchange approval and completion of due diligence by January 31, 2025.
Pacific Bay Minerals has completed its field program at the Sphinx Mountain Rare Earth Element project in British Columbia. The program included geological mapping, prospecting, ground-based geophysics, and extensive sampling. A total of 189 soil samples, 25 stream sediment samples, and 3 rock samples were collected, with assays pending. The program aims to follow up on historic stream-sediment results that showed values up to 1.19% TREO (Total Rare Earth Oxides). The company plans to use these results to guide future exploration activities, including airborne geophysics and additional mapping to define drill targets.
Pacific Bay Minerals (TSXV: PBMFF) has appointed Elton L.S. Pereira as Vice President Exploration. Mr. Pereira, a Brazilian geologist, brings extensive international experience in mining exploration. He led the development of Brazauro Resources Corp.'s Tocantinzinho Gold Project in Brazil, which was sold to Eldorado Gold Corp. in 2010. He also spearheaded the discovery of TriStar Gold's Castelo de Sonhos gold project and has recently worked on nickel-copper-cobalt deposits in Bahia State, Brazil.
The appointment aligns with Pacific Bay's new focus on acquiring precious metal and critical mineral exploration projects in Brazil. As part of his compensation, Mr. Pereira will receive 500,000 incentive stock options at an exercise price of $0.05 per share, expiring in 3 years.
Pacific Bay Minerals announced that it will not proceed with the remaining balance of its non-brokered private placement initially announced on March 18 and 26, 2024.
The first tranche closed on May 13, where 2,600,000 units were issued at $0.05 per unit and 1,178,144 flow-through units at $0.07 per unit, generating a total of $212,470 in gross proceeds.
On May 13, 2024, Pacific Bay Minerals announced the closing of the first tranche of its non-brokered private placement, generating gross proceeds of $212,470. The tranche included 2,600,000 Hard Units at $0.05 each and 1,178,144 Flow-Through Units at $0.07 each. Each unit features one common share and one warrant. The funds will support the exploration of critical mineral projects in British Columbia and cover general corporate expenses. Insiders acquired a portion of these units, which qualifies as a 'related party transaction.' Regulatory approvals, including final TSXV approval, are pending.
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