Top Stories for Jan. 19, 2024:
1. The boron and lithium company 5E Advanced Materials, Inc. FEAM has chosen Fluor Corporation as its engineering, procurement, and construction services provider. Fluor will steer 5E’s FEL-2 and upgrade its current S-K 1300 technical document into a Pre-feasibility Study upon completion.
CEO of 5E Advanced Materials Susan Brennan expressed excitement, stating, “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.”
“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,” she added.
2. GoldMining Inc. GLDG completed the sale of Nutmeg Mountain to NevGold Corporation NAUFF for 10 million shares of NevGold, valued at $3 million.
The project was acquired by GoldMining in 2020 for $1.15 million, but the company’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.”
“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,” he added.
3. The shareholder rights law firm Bragar Eagel & Squire, P.C. is encouraging investors to contact the firm as it investigates claims against Ramaco Resources, Inc. METC to determine whether they violated federal securities laws.
Ramaco Resources was recently criticized in a Wolfpack Research report for overhyping the potential of its Brook Mine, claiming unprofitable mining prospects and possible negative extractability test results, impacting its stock value.
4. The national metals service center Olympic Steel Inc. ZEUS promoted Anthony G. Dominic to vice president of Safety, Health, and Environment.
Now Read: S&P 500, Nasdaq Jointly Hit New All-Time Highs As AI-Driven Stocks Defy Gravity: What’s Driving Markets Friday?
Photo: Shutterstock
