Atlas Salt Inc Stock Price, News & Analysis

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.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has signed a non-binding MOU with Sandvik Mining and Rock Solutions for the Great Atlantic Salt Project. Key highlights include:

1. Purchase of advanced electric mining equipment
2. Implementation of AutoMine® automation system
3. Battery Management Service
4. Full Maintenance Program
5. Deswik software and engineering consulting services
6. Tailored ground support and grouting expertise
7. Local warehousing and technical support

Sandvik has offered a $73 million financing arrangement to support the acquisition and deployment of their mining technology, equipment, and services. This partnership aims to enhance safety, efficiency, and sustainability in Canada's next salt mine.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has purchased key land parcels for its Great Atlantic Salt Project. The acquisition includes approximately 100 hectares of privately held vacant lots, with plans to develop only a small portion for mine infrastructure. This strategic move secures essential surface rights for mine site construction and future production, including areas for the boxcut and mine portals. The purchase is expected to support ongoing discussions with potential financing sources and advance the project's development, ultimately aiming to unlock shareholder value. Atlas Salt intends to maintain most of the acquired land as an undisturbed buffer around the mine site.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has entered into a non-binding Memorandum of Understanding (MOU) with Scotwood Industries for a strategic salt production offtake agreement and joint venture in Canada. The partnership aims to distribute and sell packaged salt and related products, targeting annual sales volumes of 1.25 to 1.50 million tonnes per annum. The agreement excludes bulk road de-icing salt and does not cover Newfoundland & Labrador, Prince Edward Island, New Brunswick, and Nova Scotia, with some exceptions for national accounts and existing U.S. retailer relationships with Canadian affiliates.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has released its inaugural Environmental, Social and Governance (ESG) Report for the Great Atlantic Salt Project. The report outlines three core sustainability priorities: maintaining social license, developing a market for clean salt, and minimizing environmental impact. Atlas Salt aims to build long-term relationships with key partners, identify clients valuing clean, low-carbon salt, and operate sustainably using electric equipment powered by the provincial grid.

CEO Rick LaBelle emphasized the company's commitment to stakeholder engagement, minimal environmental impact, and responsible growth. The ESG Report details Atlas Salt's performance in health, safety, social, and environmental matters, showcasing their strategy to provide North American markets with cleanly extracted de-icing salt with a minimal transportation emission footprint. This report will support strategic discussions with potential financing sources to advance the project's construction and unlock shareholder value.