Top Stories for Jan. 19, 2024:
1. Fluor Corporation becomes the new engineering, procurement, and construction services provider for 5E Advanced Materials, an innovative boron and lithium company listed on NASDAQ as FEAM.
The Boron Americas complex is inching towards a Pre-feasibility study following the appointment of Fluor to lead 5E’s FEL-2 upgrade.
Expressing her enthusiasm, CEO of 5E Advanced Materials, Susan Brennan, stated, “We are thrilled to engage a world-class EPC firm like Fluor, as their extensive track record will serve to be invaluable to 5E throughout this next phase of execution.”
She added, “With 5E’s recent successful recapitalization and commencement of mining operations earlier this year, this relationship further advances 5E into the next stage of project development as we continue to work towards our vision of successfully building a large-scale Boron and Lithium operations.”
2. GoldMining Inc. (NYSE: GLDG) completed the sale of Nutmeg Mountain to NevGold Corporation (OTC: NAUFF) for 10 million shares of NevGold valued at $3 million.
The company initially acquired the project for $1.15 million in 2020, and GoldMining’s total consideration for the project was $9 million.
GoldMining CEO Alastair Still stated, “By completing this transaction, the NevGold team benefits from synergies with their projects in neighboring Nevada and has completed the required expenditures and advanced the Project.”
He further added, “With many high-priority untested drill targets, we are excited to see NevGold continue to advance Nutmeg Mountain, as well as their other projects in Nevada and British Columbia. For GoldMining, the transaction allows us to remain focused on our strategic initiatives, while bolstering our balance sheet through our strategic investment in NevGold.”
3. The shareholder rights law firm Bragar Eagel & Squire, P.C. is investigating claims against Ramaco Resources, Inc. (NASDAQ: METC) following a critical report by Wolfpack Research, which highlighted potential overhyping of the Brook Mine’s prospects.
The report also suggested the existence of unprofitable mining prospects and possible negative extractability test results, causing an impact on its stock value.
4. Olympic Steel Inc. (NASDAQ: ZEUS) appointed Anthony G. Dominic as vice president of Safety, Health, and Environment, entrusting him with the responsibility to lead safety programs and teams across all locations.
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