Welcome to our dedicated page for Canadian Critical Minerals news (Ticker: RIINF), a resource for investors and traders seeking the latest updates and insights on Canadian Critical Minerals stock.
Canadian Critical Minerals Inc. (OTCQB: RIINF) is a mining company that, in its public disclosures, identifies a primary focus on copper production assets in Canada. Company news releases emphasize the 100% owned Bull River Mine project near Cranbrook, British Columbia, which has a Mineral Resource containing copper, gold and silver and is described as hosting 150 million pounds of copper. The news flow around RIINF often centers on developments at this project and on related corporate and financing activities.
On this page, readers can review news items that describe revenues from the sale of stockpiled copper, gold and silver mineralized material from the Bull River Mine project, as well as updates on care and maintenance activities, engineering studies and permitting work connected to an application to restart the mill and underground operations. The company’s disclosures also discuss the trucking of mineralized material to a third-party facility and the handling of stockpiled fines and sorted material at the site.
In addition to operational updates, Canadian Critical Minerals’ news releases frequently cover financing transactions, such as flow-through financings, private placements and offerings conducted under the listed issuer financing exemption. These items outline the structure of units and warrants, the intended use of proceeds for exploration, development and working capital, and the roles of finders and the TSX Venture Exchange in providing approvals.
Other news includes corporate matters such as the grant of incentive stock options under the company’s stock option plan and historical context related to the founder of Braveheart Resources, which is described as now being Canadian Critical Minerals Inc. Investors and observers can use this news feed to follow how the company describes its progress on its Canadian copper-focused mining assets and related corporate actions.
Canadian Critical Minerals Inc. (CCMI) has received an offer from QC Copper and Gold to purchase all outstanding shares of Cuprum Corp. in an all-share deal. CCMI currently owns 29.9% of Cuprum, which owns 100% of the Thierry Mine project. Following the proposed transaction, CCMI's ownership of QC Copper would be 10.4%.
Key terms of the acquisition include:
- QC Copper will issue 1.1538 common shares for every Cuprum common share
- A total of 82.76 million QC Copper shares will be issued
- CCMI will hold 26.77 million shares in QC Copper, valued at $3.48 million
The acquisition, if completed, will allow CCMI to focus on its Bull River Mine while gaining diversification through Opemiska and retaining interest in Thierry. Shares will be held in escrow for 18 months, with 10% free trading on closing. The transaction is subject to TSXV Exchange and QC Copper's shareholder approval, with expected closing by the end of December 2024.
Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) reported revenue of USD$95,000 from the sale of stockpiled copper, gold, and silver mineralized material at the Bull River Mine project near Cranbrook, BC. In August 2024, the company shipped 434 dry metric tonnes of sorted mineralized material to New Afton, grading 3.33% Cu, 0.64 g/t Au, and 26.7 g/t Ag.
The company faced a 10-day delay in using the ore sorter due to exhaustion of previously crushed material and contractor delays. However, a larger crushing and screening plant was recommissioned in mid-August, performing well. CCMI expects to crush and screen the entire surface stockpile, estimated at 180,000 tonnes, by late September to early October 2024. September shipments have already exceeded August's volume.
Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) reported revenue of approximately USD$143,000 from the sale of stockpiled copper, gold, and silver mineralized material at the Bull River Mine project in July 2024. The company shipped 550 wet metric tonnes of sorted mineralized material to New Afton, grading 3.73% Cu, 0.69 g/t Au, and 31.0 g/t Ag.
Despite processing more material through the ore sorter compared to previous months, lower grade material from the surface stockpile resulted in less high-grade material for shipment. The company expects some fluctuation in results due to the stockpile's heterogeneous nature. The average run of mine mineralized material grades 1.39% copper, 0.29 g/t gold, and 11 g/t silver.
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.
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