Silver Elephant Mining Corp. reports on silver mining, development and exploration activity tied to its Apuradita/Paca Apuradita operation in Bolivia. Company updates center on underground mining, trucking of silver-bearing material to toll-mill facilities, production and sale of silver-lead concentrate, and sampling or development work that defines additional mineralized zones.
Recurring corporate news also includes non-brokered private placements, common-share and warrant issuances, related-party participation under Canadian securities rules, working-capital uses, and early warning disclosures tied to holdings in Oracle Commodity Holding Corp.
Silver Elephant Mining Corp. (TSX:ELEF, OTCQX:SILEF) announced a proposed non-brokered private placement to raise up to $3.3 million by issuing 15 million common shares at $0.22 per share. Subject to Toronto Stock Exchange approval, the offering is expected to close around September 22, 2021. Proceeds will fund exploration, working capital, and corporate purposes. The shares will be subject to a four-month hold period following issuance. Finder’s fees may apply, subject to TSX policies.
Silver Elephant Mining Corp. has reported positive developments in its exploration efforts at the Pulacayo silver project and the El Triunfo gold-silver project in Bolivia.
At Pulacayo, 1,972 meters of drilling has been completed, confirming the presence of galena and other minerals at significant depths.
The El Triunfo project has identified new IP anomalies, potentially expanding the mineralized strike from 750m to 2.3km. The company plans to prioritize drilling targets for October. Recent survey results affirm the potential for further resource enhancement.
Silver Elephant Mining Corp. announced a preliminary economic assessment (2021 PEA) for its Gibellini vanadium project, showing a 25.4% after-tax internal rate of return and $260.8 million in cumulative cash flow based on a $10.00 per pound V2O5 price. The project, in Nevada, is set for open pit heap leach mining, requiring $147 million in initial capital costs, with an average annual production of 10.2 million pounds of V2O5 at an all-in sustaining cost of $6.04 per pound. The project is aligned with U.S. green energy initiatives, and a technical report will be available in 45 days.
Silver Elephant Mining Corp. has announced a plan of arrangement to spin out its Manitoba-based Minago Nickel project, Nevada-based Gibellini Vanadium project, and certain royalties into separate entities. Shareholders will receive shares in these SpinCos, with expected distributions of one share each for Minago and Gibellini, and two shares for Battery Metals Royalties for each share of Silver Elephant held. The arrangement is anticipated to close in December 2021, subject to approvals. Post-spin-out, Silver Elephant will manage its Pulacayo silver and El Triunfo gold-silver projects while Battery Metals Royalties targets mining investments.
Silver Elephant Mining Corp. announces the establishment of Battery Metals Royalties Corp., a wholly-owned subsidiary that will hold a 2% royalty on key mining projects, including Minago nickel, Gibellini vanadium, and Pulacayo silver. The royalties only take effect when threshold prices for the respective metals are reached, designed to reduce impact on mine construction. The company aims to leverage the expertise of new management to focus on mining investments and identify opportunities in nickel, vanadium, silver, copper, and gold.
Silver Elephant Mining Corp. (TSX:ELEF)(OTCQX:SILEF) has filed an independent Technical Report on the Minago Nickel Project, dated August 20, 2021, with an effective date of July 2, 2021. The report, prepared by Mercator Geological Services Limited and supported by AGP Mining Consultants and Stantec Consulting, has been filed on the System for Electronic Document Analysis and Retrieval. The Company continues to position itself as a leader in battery metals mining.
Silver Elephant Mining Corp (TSX: ELEF, OTCQX: SILEF) will hold a live presentation at VirtualInvestorConferences.com on July 27, 2021, at 2 PM ET. The presentation will feature Ron Espell and Danniel Oosterman, who will engage with investors in real time. Recently, the company reported a nickel resource estimate of 722 million pounds at the Minago project in Manitoba. They are also updating a preliminary economic assessment for the Gibellini vanadium project in Nevada. Archived access will be available post-event.
Silver Elephant Mining Corp. has filed an early warning report following the disposition of 8,061,000 common shares of Victory Nickel Inc. between July 14 and July 19, 2021, at an average price of $0.0168, totaling approximately $135,435. After this sale, Silver Elephant holds 17,222,000 shares, equating to 12.46% of Victory Nickel's issued shares. The shares were acquired for investment purposes, with intentions to adjust holdings as deemed appropriate. Both companies have a voting trust agreement regarding these shares.
Silver Elephant Mining Corp. has appointed Dr. Peter C. Lightfoot as a technical advisor for its Minago nickel project in Canada's Thompson nickel belt. Dr. Lightfoot, a seasoned geologist with over 20 years of experience in nickel exploration, is expected to enhance the project's exploration and evaluation efforts. The Minago project holds significant resources, with a mineral resource estimate indicating 722 million lbs of nickel (measured and indicated) and 319 million lbs (inferred). The project has attracted over $40 million in investments since the 2000s.
Silver Elephant Mining Corp. (OTCQX:SILEF) provided an update on its Minago Nickel Project in Manitoba. The company is working with Manitoba's government to finalize a Notice of Alteration (NOA) related to the tailings management area, crucial for updating its Environment Act License by year-end 2021. The project has a measured and indicated resource of 722 million lbs of nickel. Additionally, Silver Elephant is pursuing low-carbon mining initiatives, aiming to utilize renewable energy sources and an electric fleet to minimize environmental impact.