SRC Begins Sales from Third Quarry in Brazil
Rhea-AI Summary
Stakeholder Gold Corp. (TSXV: SRC) (OTC Pink: SKHRF) has commenced sales from its third quarry in Minas Gerais, Brazil, focusing on white quartzite blocks for cutting and polishing into slabs. The quarry received its commercialization license from ANM on December 16th, 2024, though initial production was delayed by heavy rains until January 2025.
The company expects to produce approximately 40 cubic meters of material for block sales and an additional 20 cubic meters for processing into roughly 8,000 square feet of slabs this month. Sales are scheduled to begin the week of February 17th, with several buyers already expressing interest. The company also reports strong sales from quarry #1 during the first 6 weeks of 2025, with expectations of continued growth through H1 2025.
The expanding cashflow from the Brazilian exotic stone business will support the company's gold and copper exploration initiatives in Yukon Territory's White Gold District with minimal shareholder dilution.
Positive
- New revenue stream from third quarry operation
- Strong market demand for white quartzite product
- Projected production of 60 cubic meters of material in first month
- Strong sales performance from existing quarry #1 in early 2025
- Business model enables exploration funding with minimal dilution
Negative
- Production startup delayed due to weather conditions
- Initial production to material from found boulder
Toronto, Ontario--(Newsfile Corp. - February 13, 2025) - Stakeholder Gold Corp. (TSXV: SRC) (OTC Pink: SKHRF) ("Stakeholder" or the "Company") is pleased to announce first sales from the Company's third quarry in Minas Gerais, Brazil. The quarry produces white quartzite blocks for cutting and polishing into slabs. The Company plans to sell both freshly cut blocks and finished slabs to overseas clients.
"This new quarry is producing a highly desirable white quartzite. Production ramp up is underway. The quarry material has very attractive aesthetics and many clients have expressed interest in securing purchase rights for this product in a market that is undersupplied with quality whites." said Marcus Chase, President of Mineração VMC Ltda., Stakeholder's fully owned Brazilian subsidiary.
The project received a license to commercialize the quarry from the Agencia Nacional de Mineração (ANM) on December 16th, 2024. Production startup was delayed by heavy rains from just before Christmas through to January 12th of this year. Since then, roadwork to access the quarry has been completed and water management facilities have been constructed onsite. The quarry's first block was cut from a boulder found at the foot of the planned workface (pictured).
Figure 1. First block produced from VMC quarry #3
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3082/240613_7eb111e1e4df7ab6_001full.jpg
Sales will begin next week. Several buyers have been to the quarry and have scheduled follow up meetings for the finalization of sales beginning on the week of Feb 17th.
"We are working to produce at least 40 cubic meters of material for sale as blocks this month. In addition to this, we are expecting to produce 20 cubic meters of material that will be cut and polished to produce approximately 8,000 square feet of slabs." said VMC's CEO Marcus Chase.
Figure 2. White Quartzite Material
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3082/240613_7eb111e1e4df7ab6_002full.jpg
The Company is also pleased to report strong sales from quarry #1 during the first 6 weeks of 2025. The Company's main product buyers have reported depleting inventory, and growth in sales of material from the Company's first quarry is now expected to continue through H1.2025.
"Expanding cashflow from our exotic stone business in Brazil will allow us to pursue the company's high quality gold and copper exploration initiatives in the Heart of the White Gold District of the Yukon Territory, with minimal shareholder dilution. This business combination allows us to pursue maximum prospective share price rerating with the successful advancement of exploration initiatives." said Christopher Berlet, CEO and Director of Stakeholder Gold Corp.
Christopher Berlet BSc (Mining), CFA, CEO & Director of Stakeholder Gold Corp. is responsible for the content of this press release.
For further information please contact:
Stakeholder Gold Corporation
416 525 - 6869
cberlet@stakeholdergold.com
Forward Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240613
FAQ
What is the expected production volume for SKHRF's new quarry in February 2025?
When did SKHRF receive the commercialization license for its third quarry?
What caused the delay in SKHRF's third quarry production startup?
How will SKHRF use the cashflow from its Brazilian quarry operations?
What is the current sales outlook for SKHRF's quarry #1 in 2025?
