Canadian Critical Minerals Inc Stock Price, News & Analysis

Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) has successfully closed a $222,000 financing through the issuance of 3,700,000 Flow-Through Units at $0.06 per unit. Each unit includes one common share and half a warrant, exercisable at $0.09 for two years. The company paid $10,500 in finders' fees and issued 175,000 broker warrants. These warrants allow holders to acquire common shares at $0.06 for 24 months.

The proceeds are earmarked for exploration and development activities at the Bull River Mine project near Cranbrook, B.C. All securities issued are subject to a four-month and one-day statutory hold period from the date of issuance.

Canadian Critical Minerals generated $246,000 in revenue from the Bull River Mine project in June 2024, a significant increase from $103,000 in May. The company shipped 694 wet metric tonnes of copper, gold, and silver mineralized material, grading 4.67% Cu, 0.89 g/t Au, and 39.5 g/t Ag, to New Afton. This high-grade product was achieved through the use of an X-Ray Transmissive Ore Sorter. CCMI transitioned to a Monday to Sunday dayshift operation to increase daily throughput. The company's stockpiles include fines and rejects that can be economically processed once milling permission is granted.

CEO Ian Berzins highlighted the June results as the highest-grade product produced to date, with a 305% improvement in metal grades. The company expects some fluctuation in results in the coming months due to stockpile grade variability.

Canadian Critical Minerals Inc. (TSXV: CCMI, OTCQB: RIINF) has announced the results from five remaining drill holes at the Thierry Copper Project near Pickle Lake, Ontario. The drill program, which took place in July 2023, covered 2,600 meters. CCMI, holding 23.2 million shares (30% stake) in Cuprum Corp, the project's 100% owner, is the second-largest shareholder after Orecap Invest Corp. The results, disclosed by Orecap, indicate that the K1-1 open pit remains open on strike and down dip, suggesting potential for resource expansion. The detailed results are available on Sedar Plus and Orecap's website.

Canadian Critical Minerals reported increased revenue from its Bull River Mine project, with May 2024 shipments generating approximately US$103,000, up from US$72,000 in April 2024. The company transported 360 wet metric tonnes of high-grade copper, gold, and silver material to New Afton, achieving grades of 3.86% Cu, 0.77 g/t Au, and 31.7 g/t Ag. The Ore Sorter significantly improved material grades by over 265%. Despite a one-week operational halt due to a conveyor belt tear, the company plans to enhance efficiency by shifting to a seven-day operational week starting June 15, 2024. This initiative aims to maximize throughput and leverage the ore sorter's capabilities.

Canadian Critical Minerals (CCMI) has successfully closed a financing deal, generating $100,432 through the issuance of 2,008,648 units priced at $0.05 each. Each unit includes one common share and one common share purchase warrant, with warrants exercisable at $0.08 per share over a 24-month period. The funds will be allocated to exploration and development at the Bull River Mine project near Cranbrook, B.C.

Canadian Critical Minerals (TSXV: CCMI) announced additional revenue from the sale of stockpiled copper, gold, and silver from its Bull River Mine project. In April 2024, the company transported 362 wet metric tonnes of mineralized material to New Afton, receiving a provisional payment of approximately US$72,445. The material graded 2.96% copper, 0.62 g/t gold, and 23.1 g/t silver.

Operational improvements include the use of a Steinert KSS 100 X-Ray Transmissive Ore Sorter, enhancing the grade of the material before transportation. Road restrictions in the Cranbrook area, limiting load capacity to 70%, were lifted on April 24, 2024, allowing the resumption of full-capacity trucking operations. The company anticipates higher shipment volumes and improved grades in the coming months.