Welcome to our dedicated page for Atlas Salt news (Ticker: REMRF), a resource for investors and traders seeking the latest updates and insights on Atlas Salt stock.
Atlas Salt Inc. (historically associated with the U.S. OTCQB symbol REMRF) is a mining company focused on the Great Atlantic Salt Project in Western Newfoundland. Company news releases present Atlas Salt as developing Canada’s next salt mine, with an emphasis on responsible and sustainable mining practices and contributions to the North American salt market.
The news flow around Atlas Salt centers on key milestones for the Great Atlantic Salt Project. Readers can find updates on the Updated Feasibility Study prepared under NI 43-101, including details on mineral resources, mineral reserves, mine design, and project economics. Regulatory developments, such as the Government of Newfoundland and Labrador’s approval of the Early Works Mine Development, Rehabilitation and Closure Plan, are also highlighted as important steps toward site preparation and surface infrastructure work.
Atlas Salt’s news also covers project delivery partnerships and technical collaborations. The company has announced Memoranda of Understanding with Hatch Ltd. as Lead Engineering and Integrated Project Delivery Partner and with Continental Conveyor as IPD Partner for material handling systems. Additional releases discuss support from project financing advisor Endeavour Financial, letters of interest from potential debt financiers, and equity financings intended to advance civil engineering and early works programs.
Beyond project and financing updates, Atlas Salt reports on corporate actions such as stock option and deferred share unit grants, and its support for academic research initiatives like the PACMIN seismic array project led by Memorial University. For investors and observers tracking REMRF’s historical context and Atlas Salt’s ongoing activities, this news page brings together company-issued information on technical studies, regulatory approvals, financing steps, partnerships, and community engagement related to the Great Atlantic Salt Project.
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.