Atlas Salt Inc Stock Price, News & Analysis

Atlas Salt (REMRF) announces significant leadership changes with the appointment of Nolan K. Peterson as CEO and Director, and Jeffrey Kilborn as CFO, Corporate Secretary, and VP Corporate Development, effective June 9, 2025. Peterson brings over 20 years of mining sector experience, having led major projects worth up to $1.8B and held senior positions at companies including Barrick, Newmont, and Rio Tinto. He previously served as CEO of World Copper Corp. and holds multiple professional designations including MBA, CFA, and P.Eng. Kilborn contributes over 20 years of mining and financial capital markets experience, with previous roles in investment banking at Raymond James and Bank of America. The new leadership team will focus on developing the Great Atlantic salt project, which is positioned as a strategic asset for the North American salt market.

Atlas Salt (REMRF) has appointed Andrew Smith, P.Eng., ICD.D as Project Director & General Manager for its Great Atlantic Salt Project. Smith, who joined the company in 2023 as Mine Project Manager, has been instrumental in advancing the project through environmental assessment, geotechnical drilling, and regulatory approvals. In his expanded role, Smith will lead project delivery, capital program execution, and operational readiness. Key priorities include implementing governance frameworks, advancing project financing with Endeavour Financial, finalizing construction permits with ICI Innovations, and developing long-term offtake agreements. The appointment positions Atlas Salt to move forward with construction of Newfoundland and Labrador's next major mine.

Atlas Salt has announced two significant corporate developments. The company has granted 200,000 stock options to a director, which can be exercised at 46 cents per share over a three-year period. Following this grant, Atlas Salt maintains 4,384,531 shares reserved for issuance under its equity compensation plans.

Additionally, the company has initiated its search for a new CEO and has engaged a specialized professional recruitment firm focusing on mining-financial placements. The search process is actively progressing with candidate screening underway. In the interim, Patrick Laracy, the Chairman, has stepped in as temporary CEO.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has announced the completion of geotechnical drilling and in-field data collection at its Great Atlantic Salt Project in western Newfoundland. The program focused on gathering critical information along the proposed decline path, including rock quality, structural conditions, and groundwater characteristics.

The company is now proceeding with data analysis and reporting, with final results expected in Q3 2025. The collected data will be used to refine strategies for decline construction and dewatering, aimed at reducing geotechnical risks and improving underground mine development efficiency.

Atlas Salt is working with Terrane Geoscience Inc. and GEMTEC Consulting Engineers and Scientists to interpret the data and incorporate it into detailed design parameters for the decline and box cut, supporting the development of a comprehensive capital development plan.

Atlas Salt (TSXV:SALT)(OTCQB:REMRF) has announced changes to its Board of Directors. Mr. Marc Boissonneault has resigned as director, and the company has appointed Mr. Bob Kelly as his replacement.

Kelly brings 40 years of senior management experience in mining, including notable positions as former Vice President of Teck Resources , where he led Health and Safety initiatives across all operations. His experience includes roles as General Manager at Teck's Duck Pond Operations in Newfoundland, Assistant to the President at Voisey's Bay Nickel Company, and Construction Manager for their nickel demonstration plant in Argentia. Kelly began his career at Iron Ore Company of Canada, advancing to Manager of Primary Ore Division overseeing 40 million tonnes of annual ore production.

Chairman Patrick Laracy emphasized Kelly's extensive experience in mine management, construction, safety, and stakeholder engagement as valuable assets for developing the Great Atlantic salt deposit.

Atlas Salt (TSXV:SALT)(OTCQB:REMRF) has provided a comprehensive update on the development of its Great Atlantic Salt Project. The company reports 93% completion of its geotechnical and hydrogeological drilling program, with 2,275 meters drilled and final completion expected by early April 2025.

Key developments include:

• Ongoing project financing discussions with Endeavour Financial, exploring both debt and equity options
• Final stages of selecting Lead Engineering Partner and Material Handling Equipment Partner, with decisions expected by end of April 2025
• Mine plan revisions in progress with Deswik Consulting following Sandvik's selection as preferred mining equipment partner
• Completion of Project Governance Framework and advancement of comprehensive Project Execution Plan with Hatch
• Confirmation from Newfoundland Power regarding electrical load support and preliminary cost estimates for high-voltage infrastructure
• Operational Readiness planning with TrajectorE, targeted for completion in May 2025

Atlas Salt (TSXV:SALT, OTCQB:REMRF) announced the departure of CEO Rick LaBelle effective March 19, 2025, with Chairman Patrick Laracy assuming interim executive management responsibilities. The company will initiate recruitment for a new CEO.

The company continues to advance its Great Atlantic salt project in western Newfoundland, having completed 17 of 20 geotechnical drill holes for planning twin decline access. According to the May 2024 Technical Report, the project features a 34-year mine life producing 2.5 million tonnes annually, with an after-tax IRR of 18.5% and NPV(8%) of $553 million.

The project's advantages include shallow depth accessible via declines, electric power optimization for low carbon emissions, deep-water port proximity, and environmental assessment clearance. The company has engaged Endeavour Financial and plans marketing initiatives to highlight project benefits.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has submitted its Early Works Development Plan for the Great Atlantic Salt Project in Newfoundland and Labrador to the Department of Industry, Energy and Technology. The plan outlines site preparation and early-stage infrastructure development ahead of full-scale mine construction.

The key components include:

• Construction of a 1.3 km primary access road and 300m secondary access route
• Site preparation activities including clearing, grubbing, and stockpile pad grading
• Development of laydown areas and temporary construction facilities
• Implementation of environmental controls including stormwater management systems

Pending governmental approval, Early Works construction is scheduled to begin in 2025. The company aims to position itself as a leading low-cost producer in the North American salt market through this development.

Atlas Salt (TSXV:SALT)(OTCQB:REMRF) has secured a C$1,000,000 conditionally repayable loan from the Atlantic Canada Opportunities Agency (ACOA) under the Regional Economic Growth through Innovation program. The funding will support the company's Mine Design and Optimization Initiative at the Great Atlantic Salt Project, focusing on reducing greenhouse gas emissions and implementing sustainable mining technologies.

The loan is repayable over five years, starting six months after commercial sales revenues begin, and will cover 50% of eligible costs. The Great Atlantic Salt Project, being developed on Newfoundland and Labrador's west coast, is set to become the first major salt producer in Eastern North America in decades. The project is expected to create 300 full-time construction jobs and 170 permanent positions during operations.