Dazzling Discoveries Unveiled
The recent technical report in January 2023 showcased a staggering 1.6 billion lb. of nickel, copper, and cobalt nestled in the inferred resources of Stillwater Critical Minerals. Nestled within 255 million tonnes of material at an average grade of 0.39% nickel equivalent (or 1.19 g/t palladium equivalent), this treasure trove represents a 62% uptick in tonnage from its initial estimate.
An Impressive Geological Landscape
Within the 9-kilometer central area of the property, Stillwater district has witnessed a vibrant history of mining PGEs, nickel, copper, chromium, among other valuable commodities. The project is strategically positioned next to the high-grade PGE mines of Sibanye-Stillwater, boasting a glittering past production of over 14 million oz. of palladium and platinum.
Glencore’s Stalwart Support
CEO of Stillwater Critical Minerals, Michael Rowley, expressed gratitude for Glencore’s unwavering commitment in advancing the Stillwater West project. The recent C$2.5 million financing, with Glencore leading the way, via a private placement of units priced at C$0.14 each signifies a significant stride towards this endeavor.
A Blossoming Partnership
The recent investment by Glencore follows their initial purchase of C$4.94 million worth of Stillwater Critical’s units last June. This move, which granted them a 9.99% interest in the company on a non-diluted basis, showcases a blossoming partnership rooted in shared vision and ambition.
Market Ripple Effects
With shares in Stillwater Critical Minerals wrapping up Thursday’s session 3.5% higher at C$0.145 apiece, the company’s market capitalization now stands at an impressive C$28.7 million. This uptick portrays a promising outlook and hints at the exciting prospects that lie ahead.
