Atlas Salt Inc Stock Price, News & Analysis

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.

Atlas Salt (TSXV:SALT)(OTCQB:REMRF) has announced its collaboration with Oracle for the development of the Great Atlantic Salt Project. The company is implementing Oracle's comprehensive suite of project and financial management solutions, including Oracle Aconex, Oracle Primavera Cloud, and Oracle NetSuite.

These integrated tools are designed to enhance project timeline management, financial controls, and team collaboration across all project phases. CEO Richard LaBelle emphasized the system's role in maintaining transparency, efficiency, and control in project operations.

Atlas Salt has appointed Endeavour Financial as financial advisor for the Great Atlantic Salt Project financing. The company aims to secure $350-$400 million in senior secured debt, with potential additional subordinated debt. Key 2024 milestones include validation of low-carbon footprint, environmental assessment release, and completion of mine simulation study.

Strategic achievements encompass signing an MOU with Scotwood Industries for 1.25-1.5 Mtpa packaged salt offtake and securing a $73 million MOU with Sandvik Mining for equipment fleet financing. The project has completed several important development steps, including geotechnical drilling, land acquisition, and mining lease securing.

Atlas Salt announces measures to address potential delays in shareholder voting materials delivery due to the ongoing Canada Post strike. The company's Annual General and Special Meeting is scheduled for December 3, 2024, at 10:00 a.m. (Newfoundland & Labrador time) at the Celestial Gallery, Geo Centre. To accommodate shareholders affected by the strike, Atlas Salt has extended the proxy delivery deadline to December 2, 2024, at 11:30 a.m. The Management Information Circular is available on the company's website and SEDAR+. Registered shareholders can vote via Computershare Trust Company, while beneficial holders should contact their brokers for voting instructions.

Atlas Salt (TSXV:SALT)(OTCQB:REMRF) has outlined its strategy for meeting Environmental Assessment (EA) conditions and phased permitting for the Great Atlantic Salt Project. The project was released from environmental assessment in 52 days, with 70-80% of conditions proactively addressed in the initial registration. The company's phased approach includes: Early Works for site preparation, Capital Development for surface and underground infrastructure, and Commercial Operations Development. Key environmental focuses include real-time water monitoring, seasonal wildlife benchmarking, community engagement, climate adaptation, and progressive rehabilitation.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has announced two significant developments for its Great Atlantic Salt Project:

1. Commencement of Geotechnical Drilling Program: The company has appointed Terrane Geoscience Inc. and GEMTEC Consulting Engineers and Scientists to lead a comprehensive geotechnical and hydrogeological investigation. Logan Drilling will execute approximately 2,700 meters of core drilling along the decline path. The program, expected to be completed by Q1 2025, aims to evaluate rock conditions and groundwater behavior, ensuring safety and stability for the proposed decline and box cut.

2. Acquisition of 160-hectare Crown Land Surface Lease: Atlas Salt has secured the necessary land for geotechnical drilling and surface infrastructure development, including access roads and on-site facilities.

These developments are important for de-risking the decline construction and advancing the project towards becoming Canada's next major salt mine.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) announces key changes and progress in its operations. Alasdair Federico will succeed Michael Psihogios as CFO effective October 15th, 2024. Federico, with over 15 years of experience in publicly traded mining companies, is well-positioned to lead the company's financial strategy as it enters the pre-production phase.

The company has been granted a mineral lease by the Newfoundland and Labrador Department of Industry, Energy and Technology, securing exclusive rights to develop, extract, and sell salt from the Great Atlantic Salt Project. The lease covers 550 hectares, including areas for the company's current 34-year salt reserves and additional resources for expansion.

Atlas Salt has also engaged Digitonic , an investor relations firm, to enhance visibility with the investment community. The 4-week campaign, focused on the North American market, comes with a one-time fee of US$260,000 and is subject to TSXV approval.