Friday, December 03, 2021

Betting on #Solar- Acquisitions on the Rise;(OTCQB: $SING) (NYSE: $ADT) (NASDAQ: $ISUN) (NYSE: $NEE) @_Singlepoint_ @ADT @isun_energy @nexteraenergy

Betting on #Solar- Acquisitions on the Rise;(OTCQB: $SING) (NYSE: $ADT) (NASDAQ: $ISUN) (NYSE: $NEE) @_Singlepoint_ @ADT @isun_energy @nexteraenergy 


Point Roberts WA, Delta, BC –December 3, 2021 - Investorideas.com, a leading investor news resource covering solar and renewable energy stocks releases a special report on solar and renewable energy acquisitions, as many companies look to the future of clean energy for long term investments.

 

Read this article, featuring SING in full at https://www.investorideas.com/news/2021/renewable-energy/12031Acquisitions-SING-ADT-ISUN-NEE.asp

 

Solar Industry reported, “Mercom Capital Group’s second-quarter/first-half 2021 report on funding and merger and acquisition (M&A) activity in the solar sector shows that total corporate funding (including venture capital funding, public market and debt financing) in 1H of 2021 came to $13.5 billion compared to $4.6 billion in 1H 2020, representing a 193% year-over-year increase.“

 

“Solar project acquisitions in 1H 2021 reached 39.3 GW compared to 14.7 GW acquired in the same period last year. Project acquisition activity was at a record high in Q2 2021, with over 24 GW of solar projects acquired compared to 14.6 GW in Q1 2021.”

 

Already established in the solar and cleantech sector, SinglePoint, Inc. (OTCQB:SINGrecently announced entering into an agreement to acquire 80.1% of Boston Solar, a leading full EPC solar installer in New England. The transaction is contingent on completion of the on-going audit and the subsequent financing and is expected to close prior to year-end or within the first quarter of 2022.

 

From the news: In July 2020, SinglePoint announced its intentions to prioritize and reallocate Company assets and focus its business strategy around the emerging and growing market opportunities in residential and solar energy. At that time, the Company introduced a residential and small commercial solar centric rollup strategy designed to increase market share, revenues and most importantly build a future business focused on revenue growth and profitability. The current advancements in the technology related to solar PV and energy storage create a long-term market opportunity for SinglePoint' s renewable energy and storage business, as there is only approximately 4% current penetration of the addressable solar market for both residential, small commercial and light industrial.

 

From the news: "Our next phase of non-organic growth is designed to be facilitated through targeted acquisitions that meet our criteria and that match the growing demand for renewable energy and energy storage," stated Wil Ralston, CEO of SinglePoint Inc. "SinglePoint has clearly defined criteria for installer or developer based solar acquisitions focusing on installers with a strong local brand and presence that are dedicated to a customer centric approach, led by an experienced and dedicated team of professionals. We began substantive discussions with Boston Solar in the first half of this year and confirmed that its executive team meets our acquisition criteria and represent a key strategic pillar within our solar strategy. The Boston Solar team has delivered proven results, and we are excited to close this transaction and work together to take advantage of the market opportunity that will benefit Boston Solar, SinglePoint and all shareholders."

 

From the news: Upon completion of the acquisition, the CEO and Co-Founder of Boston Solar, Daniel Mello Guimaraes will join the SinglePoint team and spearhead the EPC acquisition strategy. Mr. Mello Guimaraes will continue to oversee the day-to-day operations of Boston Solar in addition to identifying accretive tuck in acquisitions facilitated by SinglePoint that would benefit Boston Solar. In addition, there are efficiencies and operational synergies within SinglePoint's current solar assets, when combined with the demonstrated expertise of Mr. Mello Guimaraes and the Boston Solar team, that should be accretive and enhance overall margin as we grow revenue and strategically expand our renewable energy and storage footprint.

 

"This acquisition is a strategic fit for Boston Solar given the shared customer centric approach and commitment to enabling and enhancing the growth opportunities at Boston Solar. Over the past few months, the senior leadership teams at Boston Solar and SinglePoint met to ensure alignment in approach, mission and vision," added Mr. Mello Guimaraes. "Boston Solar has been serving the New England market primarily in Massachusetts since its inception in 2011, and we look forward to continuing to provide exceptional service to our existing and future customers looking to implement solar, renewable energy and energy storage solutions. Boston Solar is well-positioned for growth over the next decade and I look forward continuing to lead the company as we expand and increase our regional footprint and scale our commercial solar and energy storage offerings."

 

From the news: Over the past 10 years, Boston Solar has been providing premium residential and commercial solar installations to the communities it serves. The company has been able to achieve scalable, consistent growth, expecting to surpass $25 million in revenue in 2022.

 

"Over 100 million people in the United States alone would benefit by going solar. Over the past six months, and throughout the due diligence process with the Boston Solar executive team, it became obvious that we have a shared and aligned passion for the renewable energy industry and a commitment of putting the customer first, which is reflected in their customer reviews. This is the first of many acquisitions to come in the space, with the near-term goal of providing a best-in-class national solutions for customers looking for renewable energy and storage solutions," stated Mr. Ralston.

 

Mr. Ralston concluded, "SinglePoint is focused and committed to continued execution of our renewable energy vision and strategy. The addition of Boston Solar a premium solar installer perfectly aligns with our acquisitions strategy. We believe this clarity and alignment between the companies will continue to propel us towards our goal of becoming an industry leader and deliver maximum value to our shareholders, customers and partners."

 

ADT Inc. (NYSE: ADT),  a brand in smart home and small business security announced an agreement to acquire Sunpro Solar (Sunpro), ranked #2 for 2021 Top Residential Rooftop Solar Contractors1 in the U.S., for $160 million in cash plus approximately 77.8 million shares of ADT common stock, implying a total enterprise value of approximately $825 million, subject to certain adjustments. ADT will rebrand Sunpro to “ADT SolarTM” and enter the rooftop solar business to offer ADT customers a protected, connected, and now powered home.

 

From the news: “With its strong focus on the customer, Sunpro is the perfect partner for ADT and a logical extension of our ecosystem, unlocking an integrated home experience that includes security, automation, and energy management,” said Jim DeVries, ADT President and Chief Executive Officer. “By combining a cash-flow-positive company in the high-growth solar space with ADT’s trusted brand, national footprint, and cross-sell potential, we can expand offerings to our customers and accelerate growth for both ADT and ADT Solar.”

 

From the news: “We’re excited to offer consumers even more peace of mind by giving them the opportunity to power their homes with sustainable and affordable solar energy. Residential solar represents a $15 billion annual market, but still only in 3 percent of all U.S. homes,” DeVries continued. “With more than 6 million ADT customers and our best-in-class sales force and marketing channels, we will be well-positioned to further scale ADT Solar while lowering customer acquisition costs and accelerating overall solar adoption. We believe we have the potential to grow ADT Solar into a multi-billion-dollar business over time as we meaningfully increase the accessibility and penetration of residential solar across America.”

 

iSun, Inc. (NASDAQ: ISUN), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services and a provider of proprietary electric vehicle charging platforms is also adding to the sector having recently announced that it has reached a definitive agreement to make a strategic minority interest equity investment in Encore Renewable Energy, a leading innovator in community-scale clean energy and Top 20 US commercial solar developer.

 

From the news:  iSun’s investment aligns with its previously stated growth objectives. First announced in late 2019, iSun’s growth strategy highlighted the specific steps the Company would take to accelerate the nation’s transition to solar energy across all sectors. The investment compliments two of the strategy's key pillars - organic growth organic regional growth by expanding relationships with existing Industrial and Utility customers, and investment in companies capable of increasing project pipeline opportunities.

 

From the news:  "This new infusion of capital from iSun will allow us to more than double our project development pipeline over the next 12 months," offered Chad Farrell, CEO and Founder of Encore Renewable Energy. "Deploying additional community-scale solar and solar + storage solutions across the Northeast and other strategic markets supports our ongoing work to accelerate the transition to a robust clean energy economy powered by low cost, carbon free renewable resources."

 

NextEra Energy, Inc. (NYSE: NEErecently announced that a subsidiary of NextEra Energy Resources, LLC has entered into an agreement to sell a 50% non-controlling interest in an approximately 2,520 megawatt (MW) portfolio of long-term contracted renewables assets (the portfolio) to the Ontario Teachers' Pension Plan Board (Ontario Teachers' or the investor), one of the world's largest pension plans and a leading infrastructure investor, with approximately C$227.7 billion in net assets. The remaining 50% interest in the portfolio is under an agreement to be sold by NextEra Energy Resources to NextEra Energy Partners, LP (NYSE: NEP) pursuant to a purchase and sale agreement executed on Oct. 21, 2021 between a subsidiary of NEP and a subsidiary of NextEra Energy Resources.

 

The sale proceeds are expected to be redeployed into new wind, solar and battery storage growth opportunities, including NextEra Energy Resources' more than 18,000-MW renewables and storage backlog. This attractive capital recycling opportunity provides significant value to NextEra Energy Resources and highlights the value of its renewables development platform. Over the operating life of the assets in the portfolio, NextEra Energy Resources is also expected to receive ongoing annual fee income of approximately $16 million in year one and escalating thereafter for operations, maintenance and management services, and the transaction is expected to be accretive to earnings and generate an overall improvement in net present value for NextEra Energy shareholders.

 

From the news: "We are excited to make this significant investment and to grow our global portfolio of high-quality renewable energy assets," said Chris Ireland, managing director, Greenfield and Renewables at Ontario Teachers'. "NextEra Energy is one of the world's leading renewable energy companies and they share our focus on shaping a better future through the development of sustainable energy. This investment marks the beginning of what we expect will be a long-term partnership with NextEra Energy."

 

Companies are betting big on renewables because they know the global trend is not going away as climate change reminds us all that clean energy is the right path for the future.

 

About Investorideas.com - News that Inspires Big Investing Ideas

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Disclaimer/Disclosure: All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: this news article featuring SING is a paid for news release on Investorideas.com – (two thousand) More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

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Thursday, December 02, 2021

#Solar Acquisitions Snapshot - #Stocks to Watch (OTCQB: $SING) (NYSE: $ADT) (NASDAQ: $ISUN) (NYSE: $NEE) @_Singlepoint_ @ADT @isun_energy @nexteraenergy

#Solar Acquisitions Snapshot - #Stocks to Watch (OTCQB: $SING) (NYSE: $ADT) (NASDAQ: $ISUN) (NYSE: $NEE) @_Singlepoint_ @ADT @isun_energy @nexteraenergy

 

Chasing the Sun - Betting on the Future with #Solar and #RenewableEnergy Acquisitions

 

Point Roberts WA, Delta, BC –December 2, 2021 - Investorideas.com, a leading investor news resource covering solar and renewable energy stocks releases a special report on solar and renewable energy acquisitions, as many companies look to the future of clean energy for long term investments.

 

Read this article, featuring SING in full at https://www.investorideas.com/news/2021/renewable-energy/12021Solar-Acquisitions.asp

 

Solar Industry reported, “Mercom Capital Group’s second-quarter/first-half 2021 report on funding and merger and acquisition (M&A) activity in the solar sector shows that total corporate funding (including venture capital funding, public market and debt financing) in 1H of 2021 came to $13.5 billion compared to $4.6 billion in 1H 2020, representing a 193% year-over-year increase.“

 

“Solar project acquisitions in 1H 2021 reached 39.3 GW compared to 14.7 GW acquired in the same period last year. Project acquisition activity was at a record high in Q2 2021, with over 24 GW of solar projects acquired compared to 14.6 GW in Q1 2021.”

 

Already established in the solar and cleantech sector, SinglePoint, Inc. (OTCQB:SINGrecently announced entering into an agreement to acquire 80.1% of Boston Solar, a leading full EPC solar installer in New England. The transaction is contingent on completion of the on-going audit and the subsequent financing and is expected to close prior to year-end or within the first quarter of 2022.

 

From the news: In July 2020, SinglePoint announced its intentions to prioritize and reallocate Company assets and focus its business strategy around the emerging and growing market opportunities in residential and solar energy. At that time, the Company introduced a residential and small commercial solar centric rollup strategy designed to increase market share, revenues and most importantly build a future business focused on revenue growth and profitability. The current advancements in the technology related to solar PV and energy storage create a long-term market opportunity for SinglePoint' s renewable energy and storage business, as there is only approximately 4% current penetration of the addressable solar market for both residential, small commercial and light industrial.

 

From the news: "Our next phase of non-organic growth is designed to be facilitated through targeted acquisitions that meet our criteria and that match the growing demand for renewable energy and energy storage," stated Wil Ralston, CEO of SinglePoint Inc. "SinglePoint has clearly defined criteria for installer or developer based solar acquisitions focusing on installers with a strong local brand and presence that are dedicated to a customer centric approach, led by an experienced and dedicated team of professionals. We began substantive discussions with Boston Solar in the first half of this year and confirmed that its executive team meets our acquisition criteria and represent a key strategic pillar within our solar strategy. The Boston Solar team has delivered proven results, and we are excited to close this transaction and work together to take advantage of the market opportunity that will benefit Boston Solar, SinglePoint and all shareholders."

 

From the news: Upon completion of the acquisition, the CEO and Co-Founder of Boston Solar, Daniel Mello Guimaraes will join the SinglePoint team and spearhead the EPC acquisition strategy. Mr. Mello Guimaraes will continue to oversee the day-to-day operations of Boston Solar in addition to identifying accretive tuck in acquisitions facilitated by SinglePoint that would benefit Boston Solar. In addition, there are efficiencies and operational synergies within SinglePoint's current solar assets, when combined with the demonstrated expertise of Mr. Mello Guimaraes and the Boston Solar team, that should be accretive and enhance overall margin as we grow revenue and strategically expand our renewable energy and storage footprint.

 

"This acquisition is a strategic fit for Boston Solar given the shared customer centric approach and commitment to enabling and enhancing the growth opportunities at Boston Solar. Over the past few months, the senior leadership teams at Boston Solar and SinglePoint met to ensure alignment in approach, mission and vision," added Mr. Mello Guimaraes. "Boston Solar has been serving the New England market primarily in Massachusetts since its inception in 2011, and we look forward to continuing to provide exceptional service to our existing and future customers looking to implement solar, renewable energy and energy storage solutions. Boston Solar is well-positioned for growth over the next decade and I look forward continuing to lead the company as we expand and increase our regional footprint and scale our commercial solar and energy storage offerings."

 

From the news: Over the past 10 years, Boston Solar has been providing premium residential and commercial solar installations to the communities it serves. The company has been able to achieve scalable, consistent growth, expecting to surpass $25 million in revenue in 2022.

 

"Over 100 million people in the United States alone would benefit by going solar. Over the past six months, and throughout the due diligence process with the Boston Solar executive team, it became obvious that we have a shared and aligned passion for the renewable energy industry and a commitment of putting the customer first, which is reflected in their customer reviews. This is the first of many acquisitions to come in the space, with the near-term goal of providing a best-in-class national solutions for customers looking for renewable energy and storage solutions," stated Mr. Ralston.

 

Mr. Ralston concluded, "SinglePoint is focused and committed to continued execution of our renewable energy vision and strategy. The addition of Boston Solar a premium solar installer perfectly aligns with our acquisitions strategy. We believe this clarity and alignment between the companies will continue to propel us towards our goal of becoming an industry leader and deliver maximum value to our shareholders, customers and partners."

 

ADT Inc. (NYSE: ADT),  a brand in smart home and small business security announced an agreement to acquire Sunpro Solar (Sunpro), ranked #2 for 2021 Top Residential Rooftop Solar Contractors1 in the U.S., for $160 million in cash plus approximately 77.8 million shares of ADT common stock, implying a total enterprise value of approximately $825 million, subject to certain adjustments. ADT will rebrand Sunpro to “ADT SolarTM” and enter the rooftop solar business to offer ADT customers a protected, connected, and now powered home.

 

From the news: “With its strong focus on the customer, Sunpro is the perfect partner for ADT and a logical extension of our ecosystem, unlocking an integrated home experience that includes security, automation, and energy management,” said Jim DeVries, ADT President and Chief Executive Officer. “By combining a cash-flow-positive company in the high-growth solar space with ADT’s trusted brand, national footprint, and cross-sell potential, we can expand offerings to our customers and accelerate growth for both ADT and ADT Solar.”

 

From the news: “We’re excited to offer consumers even more peace of mind by giving them the opportunity to power their homes with sustainable and affordable solar energy. Residential solar represents a $15 billion annual market, but still only in 3 percent of all U.S. homes,” DeVries continued. “With more than 6 million ADT customers and our best-in-class sales force and marketing channels, we will be well-positioned to further scale ADT Solar while lowering customer acquisition costs and accelerating overall solar adoption. We believe we have the potential to grow ADT Solar into a multi-billion-dollar business over time as we meaningfully increase the accessibility and penetration of residential solar across America.”

 

iSun, Inc. (NASDAQ: ISUN), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services and a provider of proprietary electric vehicle charging platforms is also adding to the sector having recently announced that it has reached a definitive agreement to make a strategic minority interest equity investment in Encore Renewable Energy, a leading innovator in community-scale clean energy and Top 20 US commercial solar developer.

 

From the news:  iSun’s investment aligns with its previously stated growth objectives. First announced in late 2019, iSun’s growth strategy highlighted the specific steps the Company would take to accelerate the nation’s transition to solar energy across all sectors. The investment compliments two of the strategy's key pillars - organic growth organic regional growth by expanding relationships with existing Industrial and Utility customers, and investment in companies capable of increasing project pipeline opportunities.

 

From the news:  "This new infusion of capital from iSun will allow us to more than double our project development pipeline over the next 12 months," offered Chad Farrell, CEO and Founder of Encore Renewable Energy. "Deploying additional community-scale solar and solar + storage solutions across the Northeast and other strategic markets supports our ongoing work to accelerate the transition to a robust clean energy economy powered by low cost, carbon free renewable resources."

 

NextEra Energy, Inc. (NYSE: NEErecently announced that a subsidiary of NextEra Energy Resources, LLC has entered into an agreement to sell a 50% non-controlling interest in an approximately 2,520 megawatt (MW) portfolio of long-term contracted renewables assets (the portfolio) to the Ontario Teachers' Pension Plan Board (Ontario Teachers' or the investor), one of the world's largest pension plans and a leading infrastructure investor, with approximately C$227.7 billion in net assets. The remaining 50% interest in the portfolio is under an agreement to be sold by NextEra Energy Resources to NextEra Energy Partners, LP (NYSE: NEP) pursuant to a purchase and sale agreement executed on Oct. 21, 2021 between a subsidiary of NEP and a subsidiary of NextEra Energy Resources.

 

The sale proceeds are expected to be redeployed into new wind, solar and battery storage growth opportunities, including NextEra Energy Resources' more than 18,000-MW renewables and storage backlog. This attractive capital recycling opportunity provides significant value to NextEra Energy Resources and highlights the value of its renewables development platform. Over the operating life of the assets in the portfolio, NextEra Energy Resources is also expected to receive ongoing annual fee income of approximately $16 million in year one and escalating thereafter for operations, maintenance and management services, and the transaction is expected to be accretive to earnings and generate an overall improvement in net present value for NextEra Energy shareholders.

 

From the news: "We are excited to make this significant investment and to grow our global portfolio of high-quality renewable energy assets," said Chris Ireland, managing director, Greenfield and Renewables at Ontario Teachers'. "NextEra Energy is one of the world's leading renewable energy companies and they share our focus on shaping a better future through the development of sustainable energy. This investment marks the beginning of what we expect will be a long-term partnership with NextEra Energy."

 

Companies are betting big on renewables because they know the global trend is not going away as climate change reminds us all that clean energy is the right path for the future.

 

About Investorideas.com - News that Inspires Big Investing Ideas

Investorideas.com publishes breaking stock news, third party stock research, guest posts and original articles and podcasts in leading stock sectors.  Learn about investing in stocks and get investor ideas in cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy, gaming and more. Investor Idea’s original branded content includes podcasts and columns : Crypto Corner , Play by Play sports and stock news , Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast ,  Cleantech and Climate Change , Exploring Mining , Betting on Gaming Stocks Podcast and  the AI Eye Podcast.

Disclaimer/Disclosure: All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: this news article featuring SING is a paid for news release on Investorideas.com – (two thousand) More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

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#RenewableEnergy #Stock News - Solar Integrated Roofing (OTC: $SIRC) Submits Application to Uplist to #OTCQB Venture Market; @SIRCStock

 

#RenewableEnergy #Stock News - Solar Integrated Roofing (OTC: $SIRC) Submits Application to Uplist to #OTCQB Venture Market; @SIRCStock

 

 


EL CAJON, CA / December 2, 2021 /
 Solar stock news from Investorideas.com Newswire and RenewableEnergyStocks.com  - Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single-source solar power and roofing systems installation company, today submitted its application for a listing on the OTCQB® Venture Market (the “OTCQB”).

 

Read this news, featuring SIRC in full at https://www.investorideas.com/news/2021/renewable-energy/12022SIRC-Application-OTCQB.asp

 

The listing of the Company’s common shares on the OTCQB remains subject to the approval of the OTC Markets and the satisfaction of applicable listing requirements. The OTCQB is a trading platform that is operated by the OTC Markets Group in New York, and is the premiere marketplace for early-stage and developing U.S. and international companies. Participating companies must be current in their reporting and undergo an annual verification and management certification process. The OTCQB Venture quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.

 

“Our application to uplist to the OTCQB marks an important milestone for our Company and will help to build shareholder value along with our strong organic growth from our complementary solar, roofing and EV charging brands,” said David Massey, Chief Executive Officer of Solar Integrated Roofing Corp. “Joining the OTCQB raises our profile within the investment community, which we expect will help improve liquidity, broaden our shareholder base and position us for a Nasdaq uplisting in the future.

 

“We believe our recent acquisitions, rapid sales growth and transformation into a national brand will accelerate this goal. In addition, trading on this established public market will help to generate exposure of our Company among institutional investors. We would like to thank all of our shareholders for their ongoing support,” concluded Massey.

 

About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power and roofing systems installation platform company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com or join us on TwitterFacebook or Discord.

 

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

 

Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

 

Paid News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring SIRC is a paid for news release on Investorideas.com  More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

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Thursday, November 25, 2021

#REE #Mining News: Defense Metals (TSXV: $DEFN.V) (OTCQB: $DFMTF) Announces Positive Preliminary Economic Assessment For The Wicheeda Rare Earth Element Project; @DefenseMetals

#REE #Mining News: Defense Metals (TSXV: $DEFN.V) (OTCQB: $DFMTF) Announces Positive Preliminary Economic Assessment For The Wicheeda Rare Earth Element Project; @DefenseMetals 

 

Vancouver, British Columbia – November 25, 2021: Investorideas.com Newswire, MiningSectorStocks.com and RenewableEnergyStocks.com -Mining/Metals/ Green Energy Stock News- Defense Metals Corp. (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is pleased to announce the results of its Preliminary Economic Assessment (PEA) and updated mineral resource estimate for the development of its Wicheeda Rare Earth Element (REE) deposit located in British Columbia, Canada. The PEA was prepared by SRK Consulting (Canada) Inc. (SRK). The effective date of the PEA is November 21, 2021 and a technical report relating to the PEA will be filed on SEDAR within 45 days of this news release.

Read this news, featuring DEFN and see all images at https://www.investorideas.com/news/2021/mining/11251DEFN-REE-Preliminary-Economic-Assessment.asp

 

PEA Highlights

Strong Financial Metrics

·                  The project has a pre-tax net present value (NPV) of $765 million[1], and after-tax NPV of $512 million, at 8% discount rate.

·                  The pre-tax internal rate of return (IRR) is 20%, and the after-tax IRR is 16%.

·                  The capital payback is 5 years from start of production, and assumes partial self-funding of construction of hydrometallurgical plant from concentrate sales.

·                  Revenues average $397 million per year from sale of REE mineral concentrate (years 1-4) and mixed REE hydrometallurgical precipitate (years 5-16).

·                  Operating margin of 65.2%.

·                  Production of a saleable high-grade flotation-concentrate, with average 43% total rare earth oxide (TREO) for the life of the mine. It will be sold to market directly for years 1-4 and will then feed a project hydrometallurgical plant starting in year 5.

·                  Project near to key infrastructure.

·                  Base case economics were calculated using rare earth oxide (REO) prices of US$5.76/kg TREO in flotation concentrate and US$14.04/kg TREO in mixed REE carbonate precipitates.

Significant Production Potential

·                  The study contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life that includes 3 years of construction, and early revenue generation via phased open pit development. Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) yields rapid access to higher grade surface mineralization. Pre-production and first mill feed both in year 1. 

·                  Average annual REO production of 25,423 tonnes.

·                  Operating costs average $137 million per year over a 16-year life of mine (LOM).

Development Capital

·                  Initial capital expenditures (CAPEX) are $461 million (includes a contingency allowance of 20% to 25% for major items), and the expansion capex under a cash-funded scenario is $474 million. Sustaining capex for the life of the project is $401 million.

·                  A scenario that uses concentrate sales to partially self fund the construction of a hydrometallurgical plant reduces overall project cash requirements compared to constructing the hydrometallurgical plant as part of Phase 1. This development scenario provides significant optionality to accelerate or defer the investment in the hydrometallurgical plant according to market conditions.

Mineral Resource Estimate

·                  The updated Wicheeda Mineral Resource Estimate (MRE) comprises a 5.0 million tonne Indicated Mineral Resource, averaging 2.95% TREO and a 29.5 million tonne Inferred Mineral Resource, averaging 1.83% TREO, reported at a cut-off grade of 0.5% TREO within a conceptual Lerchs-Grossman (LG) pit shell. The current resource represents a 36% increase on a contained metal basis in comparison to the prior 2020 MRE due to the estimation of additional economically significant medium and heavy REE’s and a lower cut-off grade established based on consideration of TREO and concentrate payable, metallurgical recovery, and operating cost assumptions.

Exploration Upside

·                  During 2021, in anticipation of a positive PEA outcome, Defense Metals completed a 29-hole 5,349 metre resource expansion and delineation diamond drill program at Wicheeda. The results of drilling are expected during Q1 2022 and as such have not been incorporated into the PEA. The drilling is expected to support ongoing advanced economic studies through the development of an updated geological model and mineral resource estimate.

Craig Taylor, CEO of Defense Metals, stated: “We are pleased to have delivered a positive PEA for the Wicheeda REE Project that has the potential to be one of the top REE projects in the world. We chose SRK due to its world class experience and reputation in the mining industry and in particular its ability to assemble a team with highly specialized knowledge of Rare Earth Elements projects. The results of the PEA reveal the Wicheeda Project demonstrates robust economics and relatively low initial CAPEX via a staged development scenario that provides the flexibility to capitalize on forecast REE demand pressure.”

Dr. Luisa Moreno, Director, added: “The Wicheeda project has the three main aspects for a successful rare earth project, favorable minerology dominated by coarse grained bastnasite family minerals, a metallurgical process that yielded high grade flotation concentrate and great infrastructure in a friendly jurisdiction. With the positive PEA, the project is undoubtedly a step closer to production.”

PEA Key Metrics

Table 1: Key financial and project metrics

Project Metric

Units

Value

Pre-tax NPV @ 8%

 $k

$764,586

After-tax NPV @ 8%

 $k

$511,577

Pre-tax IRR @ 8%

% (real)

20%

After-tax IRR @ 8%

% (real)

17%

Undiscounted After-tax Cashflow (LOM)

 $k

$1,785,587

Payback Period from start of production

Years

5

Initial Capital Expenditure

 $k

$599,845

Maximum Production Rate

Mtpa

1.8

Mine Life

years

16

Ramp-up Years

years

1

Average Production Rate after Ramp-up

Mtpa

1.73

Mill Feed for Concentrate Sales

tonnes

5,416,388

Mill Feed for HM Plant Precipitate Sales

tonnes

20,712,812

Total Mill Feed

tonnes

26,129,200

Life Mine ROM Grade

% REO in mill feed

2.33%

Life of Mine Waste Rock

tonnes

45,658,098

Life of Mine Strip Ratio

Waste:Mill feed

1.75

Net Revenue from Concentrate

$k

$862,520

Net Revenue from Precipitate

$k

$5,236,095

NSR (concentrate and precipitate)

$/tonne mill feed

$228.73

Operating Margin

%

65.21%

Operating Costs

 

 

Mining

$/t

$13.14

Beneficiation

$/t

$13.63

Beneficiation Tailings

$/t

$1.25

Hydrometallurgical Plant (per tonne of mill feed for HM)

$/t

$55.75

Hydrometallurgical Tailings (per tonne of mill feed for HM)

$/t

$0.86

Water Management

$/t

$1.91

Site G&A

$/t

$4.78

Total Unit Operating Costs

$/t mill feed

$79.58

 

Figure 1: Pre-tax cashflow profile for project

Optimization Opportunities and Next Steps

The PEA describes a well-developed base case flotation concentration and hydrometallurgical pre-leach-caustic crack-leach flowsheet capable of achieving high REE recoveries into a mixed REE precipitate product. The base case represents a well-proven and widely adopted REE recovery flowsheet.

 

There are several alternative process and infrastructure development options that have shown promise in initial testing or based on the characteristics of Wicheeda REE feed are expected to be viable, that have the potential to yield simplifications that may contribute to decreased CAPEX and/or operating costs (OPEX). Future critical path bench and/or pilot-scale testwork and economic trade-off, and resource estimation studies are planned which include (but are not limited to):

 

·        Economic trade off studies designed to investigate the optimal hydrometallurgical plant location. CAPEX/OPEX reduction may be achievable in siting the hydrometallurgical plant more remote from the project site near industrial reagent suppliers versus the base case.

·        Front-end investigation of pre-concentration (e.g., x-ray transmission (XRT) particle  sorting) and flotation flowsheet metallurgical optimization assessing the effect of grind size and lowered or alternative reagent dosages, as well required conditioning and flotation slurry temperature.

·        Hydrometallurgical optimization including investigation of potential process alternatives including direct caustic crack, sulphuric acid bake.

·        During 2021, in anticipation of a positive PEA outcome, Defense Metals completed a 29-hole 5,349 metre resource expansion and delineation diamond drill program at Wicheeda. The results of drilling are expected during Q1 2022 and as such have not been incorporated into the PEA. The drilling is expected to support ongoing advanced economic studies through the development of an updated geological model and mineral resource estimate.

·        Further metallurgical test work to confirm and improve recoveries and better define detailed design parameters such as liquid-solid separation requirements.

·        Further definition of the detailed characteristics of the tailings and water management components.

·        Engage with rights and stakeholders.

·        Design and implementation of a full environmental base line program in support of Federal and Provincial Environmental Assessment for the project.

·        Future infill and expansion drilling.

 

Updated Mineral Resource

The Wicheeda deposit is modelled as a southeast-trending, north to northeast dipping composite layered syenite-carbonatite sill complex having dimensions of approximately 400 m north-south by 100-250 m east-west. The mineralization is interpreted as a moderately north-northeast dipping, shallowly north plunging, layered sill complex having low REE grade syenite at its base, overlain by transitional intermediate REE grade hybrid xenolithic-carbonatite (fenite), and finally relatively higher REE grade dolomite-carbonatite rocks, which form the main mineralization of the Wicheeda REE deposit outcropping at surface.

 

The updated MRE comprises a 5.0 million tonnes Indicated Mineral Resource, averaging 2.95% TREO (Total Rare Earth Oxide: CeO2, La2O3, Nd2O3, Pr6O11, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3 and Ho2O3), and a 29.5 million tonnes Inferred Mineral Resource, averaging 1.83% TREO, reported at a cut-off grade of 0.5% TREO within a conceptual Lerchs-Grossman (LG) pit shell and is provided in Table 2.

 

The lower cut-off grade was established based on consideration of TREO and concentrate payable, metallurgical recovery, and operating cost assumptions.

 

The MRE is predominately based on an unchanged geological model and methodologies utilized to calculate the 2020 MRE. Differences relate to the incorporation of pulp REE multi-element fusion inductively coupled plasma mass spectrometry (ICP-MS), re-assay of the 2008 and 2009 drillholes, reducing the uncertainty regarding the historical incomplete X-ray fluorescence analytical results, updated estimation parameters, and a 2020 LiDAR survey. The increased resolution of the LiDAR allows for more robust mine planning, particularly when considering the high relief within the Project area.

 

Table 2: Wicheeda Mineral Resource (effective date November 21, 2021)

Category

Tonnes

TREO

TREO

CeO2

La2O3

Pr6O11

Nd2O3

Sm2O3

Gd2O3

Eu2O3

Dy2O3

Tb4O7

Ho2O3

(Million)

(%)

(kt)

(%)

(%)

(%)

(%)

(ppm)

(ppm)

(ppm)

(ppm)

(ppm)

(ppm)

Indicated

5.0

2.95

148

1.44

1.04

0.11

0.30

296

126

60

33

11

3

Inferred

29.5

1.83

539

0.89

0.61

0.08

0.21

240

112

50

32

10

4

 

Notes for Resource Table:

 

·        The MRE was prepared by Warren Black, M.Sc., P.Geo. of APEX Geoscience Ltd under the supervision of the QP, André M. Deiss, Bsc (Hons), Pri.Sci.Nat. of SRK Consulting (Canada) Inc., in accordance with CIM Definition Standards.

·        The MRE is classified according to the CIM "Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines" dated November 29th, 2019 and CIM "Definition Standards for Mineral Resources and Mineral Reserves" dated May 10th, 2014.

·        Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no guarantee that any part of the mineral resources discussed herein will be converted to a mineral reserve in the future.

·        All figures are rounded to reflect the relative accuracy of the estimates. Total may not sum due to rounding.

·        Mean rock densities supported by 795 measurements applied: 2.94 g/cm3 (dolomite-carbonatite), 2.87 g/cm3 (xenolithic-carbonatite), 2.70 g/cm3 (syenite), and 2.74 g/cm3 (limestone).

·        The reasonable prospect for eventual economic extraction is met by reporting the Mineral Resources at a cut-off grade of 0.50% TREO (total rare earth oxide, sum of 10 oxides: CeO2, La2O3, Nd2O3, Pr6O11, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3 and Ho2O3), contained within a Lerchs-Grossman (LG) optimized pit shell

·        The cut-off grade is calculated, and the LG pit is optimized based on the assumption that the hydrometallurgical processes can produce mixed REE carbonate precipitates. The parameters utilized include the following considerations:

                   TREO price: $18.66/kg

                   Exchange rate of 1.30 C$:US$

                   Precipitate production grades of 81.09% of TREO

                   Processing cost includes $21.47/t of mill feed for flotation plus a variable cost for hydrometallurgical plant that varies based on the feed grade. The average cost of hydrometallurgical plant is assumed to be $1,204/t of concentrate.  

                   Mining cost of C$2.00/t for mill feed and waste

                   G&A Costs included in the processing cost is C$6M/yr

                   The overall process recoveries: For TREO>=2.3%, recovery is 69.6%; between 2.3% and 1.5% TREO, recovery is 65.3%; and less than 1.5% TREO, recovery is 52.2%. These assume variable flotation recoveries and a constant 87% hydrometallurgical recovery.

                   Overall pit slope angles vary by zone between 40 and 48 degrees

The PEA for the Wicheeda REE Deposit is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment forecasts will be realized or that any of the resources will ever be upgraded to reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. 

 

Mineral Resource Estimate Methodology

1.    The drillhole database comprised of 27 exploration diamond drillholes completed in 2008 and 2009 by previous operators (14 holes totalling 2,244 metres) and in 2019 by Defense Metals (13 holes totalling 2,005 metres), containing a total of 1,315 drill core samples analyzed for REE by multi-element fusion ICP-MS.

2.    The 3D geological modeling integrates assay and geological data collected from diamond core drilling; surface geologic mapping; soil geochemical; and airborne magnetic; and radiometric geophysical surveys.

3.    Search ellipsoids defined by metal modelled variograms, which range from 130 to 140 m in the major axis, 100 m in the minor axis, and 9 to 18 m in the vertical axis. The MRE was estimated with 3 m composites utilizing Ordinary kriging and local varying anisotropy.

4.    Indicated Resources were categorized within a search ellipse of 90 m by 60 m by 9 m with a minimum of 5 drillholes. Inferred blocks do not extend beyond the limits of the variograms.

5.     

Table 3: Mineral Resource cut-off sensitivity

Category

Cut-off

Tonnes1

TREO2

TREO

CeO2

La2O3

Pr6O11

Nd2O3

Sm2O3

Gd2O3

Eu2O3

Dy2O3

Tb4O7

Ho2O3

TREO (%)2

(Million)

(%)

(Tonnes)

(%)

(%)

(%)

(%)

(ppm)

(ppm)

(ppm)

(ppm)

(ppm)

(ppm)

Indicated

 

 

 

 

 

0.25

5.032

2.94

148,186

1.44

1.04

0.11

0.30

296

126

60

33

11

3

0.50

5.031

2.95

148,184

1.44

1.04

0.11

0.30

296

126

60

33

11

3

0.75

5.030

2.95

148,173

1.44

1.04

0.11

0.30

296

126

60

33

11

3

1.00

5.025

2.95

148,134

1.44

1.04

0.11

0.30

296

126

60

33

11

3

1.50

4.984

2.96

147,577

1.44

1.05

0.11

0.30

298

126

61

33

11

3

2.00

4.654

3.04

141,608

1.49

1.08

0.12

0.31

305

129

62

34

11

4

2.50

3.687

3.24

119,523

1.58

1.15

0.13

0.32

322

135

65

35

12

4

Inferred

0.25

34.971

1.59

557,463

0.77

0.53

0.07

0.18

215

103

46

31

10

4

0.50

29.467

1.83

538,757

0.89

0.61

0.08

0.21

240

112

50

32

10

4

0.75

25.348

2.03

515,099

0.99

0.68

0.08

0.23

259

117

54

32

10

4

1.00

20.888

2.28

477,214

1.11

0.78

0.09

0.25

281

126

58

32

11

4

1.50

14.112

2.83

398,734

1.37

0.98

0.11

0.31

323

142

65

34

12

4

2.00

12.258

2.99

366,258

1.45

1.04

0.12

0.32

335

146

67

35

12

4

2.50

8.402

3.33

279,680

1.62

1.17

0.13

0.35

359

155

72

37

13

4

Notes

1.     1 Tonnes constrained within a LG open pit.

2.     2 TREO % sum of CeO2, La2O3, Nd2O3, Pr6O11, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3 and Ho2O3.

3.     Grades are reported as in-situ grades.

 

Table 3 above illustrates the sensitivity of the MRE to different cut-off grades for a potential open-pit operation scenario with reasonable outlook for economic extraction. The reader is cautioned that the figures provided in these tables should not be interpreted as a statement of mineral resources. Quantities and estimated grades for different cut-off grades are presented for the sole purpose of demonstrating the sensitivity of the resource model to the choice of a specific cut-off grade.

 

Mine Planning

SRK developed and evaluated a series of operational scenarios involving different production rates and saleable products to arrive at an optimum solution for mine development. An optimization model was used to check the sensitivity of the deposit against various key variables, and multiple high-level schedules were costed and economically assessed under varying pricing assumptions.

 

From this scenario analysis, a go-forward scenario was selected for further refinement. An updated pit optimization was run to select a pit based on optimizing the balance of NPV and risk. This pit was the basis of a production schedule for the LOM.  Over the LOM, the project will generate 26.1 Mt of mill feed at a strip ratio of 1.75:1 (waste:mill feed) and an average grade of 2.3% TREO.

 

Figure 1: PEA mine schedule

The Wicheeda deposit will be mined as a conventional open pit operation. In-pit haulage for both mill feed and waste will be by 65 tonne haulage trucks. Mill feed will be mined in six-metre benches and hauled to the crusher close to the pit rim. Crushed mill feed will be conveyed to the flotation mill.

 

Waste rock will be mined and hauled to an on-site rock storage facility as well as to the tailings storage facility (TSF) for embankment construction.

 

The mining operation has been costed as owner operated.

 

Flotation Concentrator

Material from the Wicheeda deposit is to be processed in a flotation concentrator to produce a flotation concentrate that is further processed at the hydrometallurgical plant. The flotation concentrator is to incorporate unit operations that are standard to the industry and include: crushing and grinding to liberate the REE minerals from the waste rock, followed by conditioning at elevated temperature with the required reagents followed by rougher and scavenger flotation. The resulting rougher-scavenger flotation concentrate is to be further upgraded during multiple stages of reagent conditioning and cleaner flotation. The upgraded flotation concentrate is then thickened, filtered and prepared for transport to the hydrometallurgical plant for further processing. The flotation concentrator tailings is to be pumped to the TSF for disposal.

An important aspect for a successful rare-earth project is the production of a flotation concentrate[2], and only a select number of companies have been able to report such achievement. A high-grade flotation concentrate leads to smaller hydrometallurgy plant equipment and consequently considerably lower capital expenditures. As lower volumes of mineral concentrate are processed, there are also operating costs benefits as less reagents are consumed.

Hydrometallurgical Plant

Flotation concentrate is subjected to a pre-leach process using hydrochloric acid (HCl) to remove gangue minerals that are present. The pre-leach residue is then processed by caustic cracking using a strong sodium hydroxide (NaOH) solution at elevated temperature. This converts the REE phosphate and fluorocarbonate minerals to hydroxides and dissolved phosphate, fluoride and carbonate species. The dissolved species are precipitated using lime and the NaOH thereby regenerated and re-used. The REE hydroxide is leached with HCl, impurities removed and the REE then precipitated with lime to form a REE hydrate which is dried, packaged, and sent to market.

 

As noted, NaOH used is regenerated using lime and the hydrochloric acid is regenerated using sulphuric acid. Waste products from the hydrometallurgical plant consist mainly of gypsum, excess lime, calcium phosphate and carbonate and minor metal precipitates. The hydrometallurgical residue is combined with the flotation tailings for storage. 

 

The hydrometallurgical plant design summarized above is based on extensive bench-scale hydrometallurgical testing by SGS Lakefield on bulk samples of flotation concentrate produced during pilot plant flotation operations on Wicheeda mineralized material. Hydrometallurgical testwork is continuing and will result in pilot plant demonstration of the selected process.

 

On-site Project Infrastructure

Water Management

The Wicheeda Project will consist of infrastructure on the east and west extents of Wichcika Creek, and upstream of Wicheeda Lake. Water management infrastructure are required to capture the surface water runoff and seepage from the open pit, waste rock storage facilities, mill feed stockpiles, and the tailings storage facility.

 

A single collection pond down stream of the pit and waste storage area will have sufficient storage capacity to manage a 1 in 100-year rainfall event. Water collected in the open pit will be directed to the pond, along with runoff from the processing plant pad. Inflows to the pond will be pumped to the processing plant or will be treated and discharged to Wichcika Creek.

The TSF will provide sufficient water storage capacity to handle the Inflow Design Flood based on its dam classification and safely manage more extreme events.  A minimal TSF decant pond will be maintained, with a dedicated water management pond downstream of the water storage area, as noted above which will maintain a minimum pond volume to meet monthly water demand at the processing plant. All excess water will be pumped to the dedicated water management facility and/or contact water ponds at the processing plant area for recirculation in the plant or to be treated and discharged. A series of seepage collection stations will also be located along the downstream toe of the TSF dam to pump seepage back into the TSF pond.

 

Waste rock and pit wall water quality are expected to have elevated levels of molybdenum, arsenic, uranium and radium. Water in the TSF is expected to be elevated for the same parameters as waste rock and pit wall areas, along with fluoride. A water treatment plant has been sized based on a monthly water balance with the 1 in 25-year annual runoff contributions to the waste rock areas, open pit, and TSF. The plant is expected to treat for molybdenum, arsenic, uranium, radium and fluoride and will be situated at the processing area. The plant is sized to treat up to 2300 gpm of water and will discharge excess water from the water management facilities to Wichcika Creek.

Long-term water quality predictions for the project area will be developed to determine the duration of water treatment requirements. Closure strategies will be implemented to reduce the long-term water treatment requirements, including flooding the open pit, as well as resloping and covering of waste rock dumps and the tailings area.

 

Tailings

The TSF is a key aspect of the operation. The following operating and mine life assumptions were used to determine the required tailings storage capacity:

·        Total mill feed to be mined – 26 million tonnes

·        An assumed annual mining rate – 1.8 Mtpa (= average of 5,000 tpd)

·        LOM is 16 years (minimum)

·        100% of tailings and hydrometallurgical residue go to the TSF

·        Required TSF capacity = 20 million cubic meters (m3) (at an average assumed dry density of 1.4 t/m3)

SRK completed several site selection exercises. Each site selection exercise was based on slightly different criteria provided by the operation and included consideration of both dewatered (thickened, filtered) and conventional slurry tailings. Conventional slurry tailings disposal is the basis of the PEA.

 

The TSF location, layout depositional approaches and water management will be further developed to meet both provincial regulations as well as Canadian and Global standards of good practice as the project advances through the PEA to future studies.

 

General Site Infrastructure

An additional allowance for general site infrastructure such as buildings, site roads and other items of $26 million was added to the capital costing.

 

Offsite Project Infrastructure

Power

Power is assumed to be supplied via a new high-voltage line connecting to the BC Hydro 138 kV line (1L 365) running to the west of the project to the project site. Costing has been derived from benchmarks and no detail design has been undertaken

 

Access

The existing forestry road from Bear lake to the project site is assumed to be upgraded for logistics access. The road crosses Wichcika Creek. The construction of a bridge is required, and this has been costed at a conceptual level. The bridge is also required for the backhaul of rock from the mine for the construction of the TMF.

 

Water Supply

Water is relatively abundant in the project area with multiple streams, lakes and rivers within proximity. An allowance for a local source was made in the costing.

 

Costing assumptions for offsite project infrastructure is shown in Table 3. A 25% contingency is included in the estimates.

Table 3: Offsite infrastructure capex estimates

Offsite Infrastructure Capex

Total ($million)

Power Line

$48.3

Substation and connection

$8.1

Water Supply

$8.1

Access Road

$84.5

Access Bridge

$9.8

Offsite Infrastructure Total

$158.8

 

Environmental and Social

The project is located within Treaty 8 territory. A robust Engagement Management Plan will be developed and implemented in order to initiate the federal and provincial environmental assessment process the project will be required to complete. 

 

In addition to the engineering work required to advance the design of the water and tailings management Defense Metals will also be developing and initiating the collection of a thorough environmental baseline database. The environmental database which will contain data on physical properties (hydrogeology, hydrology, geochemistry, climatic conditions) as well as all biological properties of the immediate and regional project areas (flora and fauna, terrestrial and aquatic species). Following the collection of the environmental baseline database an environmental assessment satisfying the Canadian Impact Assessment Act and British Columbia’s Environmental Assessment Act will be completed in order to advance the project through to production.

 

Capital Costs Summary

The initial project capital cost is estimated at $461 million, including a contingency allowance of 20% to 25% for major items. Initial operating cashflows from the project are re-invested in the construction of the hydrometallurgical plant.

 

Table 4: Total capital cost estimates

Category

Units

Initial

Expansion

Susex

Closure

Total

Open Pit Capex

$k

$30,845

 

$24,602

 

$72,081

Flotation Plant Initial

$k

$102,551

 

 

 

$133,316

Hydromet. Plant

$k

$0

$474,091

 

 

$616,319

General onsite infrastructure

$k

$26,000

 

 

 

$33,800

Water Management

$k

$67,704

 

 

 

$88,015

Beneficiation Tailings Handling

$k

$15,803

 

 

 

$20,544

Offsite Infrastructure

$k

$158,844

 

 

 

$206,497

Tailings Management Facility

$k

$59,672

 

$195,307

 

$331,472

Site wide Susex

$k

 

 

$181,464

 

$235,904

Closure Costs

$k

 

 

 

$164,996

$214,494

Total Capex

$k

$461,419

$474,091

$401,373

$164,996

$1,952,443

 

The duration of the detailed design and construction phase of the project has been estimated to be 36 months.

 

Operating Costs Summary

The operating cost estimates are shown in Table 5. For the hydrometallurgical plant costs, only mill feed associated with the plant operation is considered for calculation of unit costs.

 

Table 5: Total operating cost estimates

Operating Costs

LOM ($k)

LOM Average

Units

Mining Total Opex

$343,246

$13.14

$/t total mill feed

Beneficiation plant

$356,235

$13.63

$/t total mill feed

Beneficiation tailings

$32,607

$1.25

$/t total mill feed

Hydrometallurgical plant

$1,154,837

$55.75

$/t of mill feed for HM

Hydrometallurgical tailings

$17,797

$0.86

$/t of mill feed for HM

Water Management

$49,920

$1.91

$/t total mill feed

Site G&A

$124,800

$4.78

$/t total mill feed

Total Operating Costs

$2,079,443

$79.58

$/t total mill feed

 

 

Financial Analysis and Sensitivity

The expected project cashflows were modelled using a simple discounted cash-flow model. A discount rate of 8% was used. The model uses real 2021 USD for all cashflows and costs and is configured for annual periods, and an exchange rate of 1.3 CAD/USD was used for reporting CAD values as used in this Press Release.

 

A simple tax model was constructed using a depletion model for depreciation estimates. No opening balance of tax credits or eligible prior expenditure was used. The estimates of tax payable are considered to likely be conservative (high) from the perspective of Defense Metals. Table 7 summarizes the estimated total LOM cashflows. The column at the right is the NPV (cost) of those cashflows.

 

Table 7: Key financial and project metrics

Cashflow

Units

LOM

NPV

Net Revenue from Concentrate

$k

$862,520

$585,259

Net Revenue from Precipitate

$k

$5,236,095

$2,245,223

Royalty

$k

$121,972

$56,610

Net Revenue after Royalty

$k

$5,976,643

$2,773,872

Total Operating Costs

$k

$2,079,443

$975,049

Operating Cashflow

$k

$2,384,417

$764,586

Total Capex

$k

$1,501,879

$987,841

Working Capital

$k

$10,904

$46,396

Pre-tax Cash Flow

$k

$2,384,417

$764,586

Total Tax Payable

$k

$598,830

$253,009

After-tax Cashflow

$k

$1,785,587

$511,577

 

Figure 2 show simple single factor sensitivity to changes in the main parameters of commodity price, capital costs and operating costs.

 

Breakeven (zero) NPV corresponds to a reduction in price assumption of 22% compared to base case.

 

Figure 2: Sensitivity chart

 

About the Wicheeda REE Property

The 2,008 hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway and major highways.

Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits.

 

Qualified Persons

 

SRK Qualified Persons (QPs) are all independent as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and have contributed to their corresponding sections of the PEA, and have reviewed and approved the scientific, technical, and economic information contained in this news release.

 

The SRK QPs include André Deiss, (geology and mineral resources), Andy Thomas (pit geotechnical), Anoush Ebrahimi (mining), Eric Olin (flotation concentration), Samantha Barnes (water management), Mark Liskowich (environmental-social -permitting), and Neil Winkelmann (infrastructure, marketing and economics). Associate consultant, John Goode, is the QP for hydrometallurgical processing.

 

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in NI 43-101. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein. 

 

About SRK

SRK is an independent, global network of consulting practices in over 45 countries on six continents. Its experienced engineers and scientists work with clients in multi-disciplinary teams to deliver integrated, sustainable solutions across a range of sectors – mining, water, environment, infrastructure and energy.

 

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals has an option to acquire 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

 

National Instrument 43-101 Technical Report

A technical report for the Wicheeda Project will be prepared in accordance with National Instrument 43-101 and will be filed on SEDAR at www.sedar.com and on the Company’s website within 45 days of this news release. Readers are encouraged to read the technical report in its entirety, including all qualifications, assumptions and exclusions that relate to the details summarized in this news release. The technical report is intended to be read as a whole, and sections should not be read or relied upon out of context.

 

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

 

Neither the 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 news release.

 

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forwardlooking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to the PEA and its potential and expected outcomes including the capital costs, operating costs, internal rate of return, annual production, and net present value of the Wicheeda Project, the ongoing optimization test work and the expected outcomes, plans for its Wicheeda Property, assays, drill results and expected timelines, results and outcomes, expanded resource and scale of expanded resource, potential production, the advancement and development of the Wicheeda Property, further metallurgical work, engagement with stakeholders, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forwardlooking statements or forwardlooking information, except as required by law.

 

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[1] All figures are in Canadian dollars unless otherwise specified

[2] Except ion-absorption clays