Tectonic Metals Stock Price, News & Analysis

Tectonic Metals has announced promising metallurgical test results from its Flat Gold Project in Alaska. The tests, which included conventional bottle roll and gravity methods, yielded gold recoveries averaging 95.6%, with one composite reaching 99.1%. A coarser crush test indicated an average recovery of 88.5%, suggesting viability for heap leaching. The results show that the mineralization is non-grind sensitive, low in sulphur, and favorable for various extraction methods. Tectonic plans to explore heap leaching further, capitalizing on these positive metrics to de-risk the project.

Tectonic Metals Inc. has announced the termination of its mineral lease agreement for the Seventymile Gold Project in Alaska, citing a disciplined approach to its exploration process. Despite positive exploration results, CEO Tony Reda emphasized the need for a clear three-year exploration plan and accountability for shareholder value. The company plans to focus on its Flat Gold Project for 2023, which is expected to provide a transformative opportunity. The decision reflects Tectonic's commitment to allocate resources where they yield the highest return on investment in the current market conditions.

Tectonic Metals Inc. announced the completion of its inaugural field program at the Flat Gold Project in southwestern Alaska, marking the first exploration in over 20 years. Key activities included trenching and sampling across a 3,800m long gold-in-soil anomaly, with significant results such as up to 8.8 grams per tonne gold in soil and 3.4 g/t in grab samples. The company aims to establish a solid technical foundation for a comprehensive drilling program in 2023, focusing on evaluating mineralization accurately.

Tectonic Metals has successfully closed a non-brokered private placement financing, raising C$3,100,900 by issuing 38,761,250 units at C$0.08 per unit. Each unit includes one common share and a warrant, exerciseable at C$0.12. This oversubscribed offering reflects strong demand despite challenging market conditions. The proceeds will fund Tectonic's Flat Gold Project and working capital. The issuance involves related parties, and all securities are subject to hold periods. The company aims to leverage its experienced team to enhance shareholder value.

Tectonic Metals Inc. has announced an upsized non-brokered private placement of units from C$2,000,000 to C$3,100,900. The offering will comprise up to 38,761,250 units priced at C$0.08 per unit, each including a common share and a warrant exercisable at C$0.12 for two years. Proceeds will be directed towards the Flat Gold Project and general working capital. The closing is contingent on standard conditions, including TSXV acceptance.

Tectonic Metals Inc. announces a C$2,000,000 non-brokered private placement, anchored by strategic shareholder Crescat Capital and geologist Dr. Quinton Hennigh. The offering involves the issuance of up to 25,000,000 units at C$0.08 per unit, each consisting of a common share and a warrant exercisable at C$0.12 for two years. Proceeds will fund the Flat Gold Project and general working capital, subject to TSXV approval. All securities will have a four-month hold period post-closing.

Tectonic Metals Inc. (TSXV:TECT)(OTCQB:TETOF) has appointed Oliver Foeste, CPA, CA as the new Chief Financial Officer (CFO) and Corporate Secretary, effective immediately. Foeste, founder of Invictus Accounting Group LLP, possesses extensive finance and compliance experience in various sectors, including mining. He succeeds Xavier Wenzel and will oversee Tectonic's accounting and finance operations. In connection with this appointment, the company granted 400,000 stock options at an exercise price of $0.10 per share.

Tectonic Metals Inc. announced that at the Annual General and Special Meeting held on September 22, 2022, shareholders approved all items on the agenda. This includes the re-election of board members Antonio Reda, Curtis J. Freeman, Allison Rippin Armstrong, Joseph J. Perkins, and Michael W. Roper. Additionally, shareholders re-appointed Davidson & Company LLP as the company’s auditors and adopted a new Equity Incentive Plan. These steps are part of Tectonic's strategic initiatives to enhance governance and incentivize performance.