Trigon Metals Inc Stock Price, News & Analysis

Trigon Metals Inc. has resumed production at the Kombat Mine in Namibia after a 14-year closure. The first blast took place on October 19, 2021, marking a significant milestone for the company and its shareholders. The Kombat Copper Project, covering over 7,500 ha, previously produced approximately 12.46 million tonnes of copper from 1962 to 2008 at a grade of 2.62%. The company also holds additional exploration licenses in Namibia and Morocco, focusing on copper and silver.

Trigon Metals has provided an update on its Silver Hill project in Morocco. The company is preparing for a resumption of drilling in December 2021 after completing drilling in early 2021. Recent activities include detailed topographic surveys, geochemical sampling, and planning for a ground geophysical survey to explore potential mineral connections. The trench reported high grades of copper and silver, indicating a significant mineralized strike length. Trigon has also welcomed an experienced geologist, Jed Diner, to enhance its exploration team.

Trigon Metals Inc. has announced that Tulela Mining & Construction CC has commenced mining establishment at the Kombat Mine in Namibia. Tulela has set up an operational base including refurbished offices and workshops, with mining equipment already delivered. Initial work involves topsoil clearing and employee training, with open pit mining expected to start by October 2021. The Kombat Copper Project, Trigon's flagship, holds significant copper production history and prospective areas for lead and zinc. The company maintains a focus on copper and silver exploration.

Trigon Metals has filed an updated NI 43-101 technical report for the Kombat copper project in Namibia, showing a significant increase in mineral resources. The report indicates an Indicated Mineral Resource of 12.22 million tonnes and an Inferred Mineral Resource of 1.91 million tonnes, reflecting a 66% increase from previous estimates. The comprehensive resource estimate, which incorporates advanced geological analysis, is projected to support operations for over 20 years. The technical report is available on both SEDAR and Trigon's website.

Trigon Metals Inc. plans a non-brokered private placement of up to 12,500,000 units at $0.40 per unit, aiming for gross proceeds of $5,000,000. Each unit includes one common share and one-half warrant, with warrants exercisable at $0.50 for two years. The offering’s close is anticipated around September 10, 2021, pending regulatory approvals. Proceeds will fund the recommencement of mining at the Kombat mine and support working capital. Trigon holds significant mining interests in Namibia and Morocco, focusing on copper and silver exploration.

Trigon Metals Inc. has announced the completion of manufacturing long lead equipment items for the Kombat processing plant, contracted to Yantai Xinhai Industry & Trade Co., Ltd. Equipment will be shipped from China to Namibia soon, with other local orders also nearing completion. The project is on schedule for plant commissioning by year-end, with significant progress reported on refurbishment. The Kombat Mine, noted for its copper production, is a key asset for Trigon, which also operates in Morocco.

Trigon Metals Inc. has signed a Power Supply Agreement with CENORED, ensuring a stable power supply for the Kombat Mine in Namibia. This agreement follows earlier commitments for power infrastructure installation, with preliminary work already in progress. CEO Jed Richardson emphasized the partnership's significance for the Kombat mine's restart efforts and the benefits for the Kombat Village. The Kombat project has a historical production of approximately 12.46 million tonnes of copper, highlighting its importance in Trigon's operations.

Trigon Metals Inc. has appointed Tulela Mining & Construction CC as the open pit mining contractor for the Kombat Mine in Namibia, with equipment mobilization starting in August 2021 and mining operations expected to begin in October 2021. Tulela brings extensive experience in sub-Saharan open pit mining and plans to employ local staff, reinforcing Trigon's commitment to local employment. The Kombat Copper Project, covering over 7,500 ha, is Trigon's flagship, having produced 12.46 million tonnes of copper historically.

Trigon Metals Inc. (TSXV:TM) is progressing with the Kombat Mine project, expecting to restart operations by the end of 2021. Initial copper production is projected at 6,000t for 2022, increasing to 16,500t by 2024, utilizing upgraded milling technology. The upfront capital cost is estimated at USD6.4 million, with 40% already spent. The company aims for positive cash flow in 2022 and has partnered with Xinhai for equipment procurement, focusing on debt financing without reliance on Chinese export credits.