Key Events Unfolding on Jan 22, 2024:
Coeur Mining, Inc.
CDE provides an update on its Silvertip polymetallic exploration project in British Columbia.
After completing approximately 90,000 feet of drilling over 92 holes, particularly in the Southern Silver Zone, Coeur Mining has unveiled exceptional high-grade mineral intercepts. Notably, these results have expanded the known dimensions of this zone, underscoring Silvertip’s status as one of the world’s highest-grade, undeveloped carbonate replacement deposits.
Former Treasury Secretary Larry Summers has come out in support of Nippon Steel Corp.’s
NISTF $14.1 billion acquisition of United States Steel Corp.
X.
Speaking out against concerns of potential national security issues, Summers emphasized Japan’s status as a “staunch ally” to the U.S. and highlighted the potential of the deal to inject more capital into the U.S. steel industry, which could lead to lower prices and increased job opportunities in industries that heavily rely on steel.
5E Advanced Materials, Inc.
FEAM closed its first round of equity financing, securing $10 million in new equity split equally between Ascend Global Investment Fund SPC and 5ECAP, LLC.
The fresh capital infusion is anticipated to drive the necessary resources for advancing mining operations and progressing toward the commencement of production.
Chief Financial Officer Paul Weibel expressed his satisfaction with the closing, stating, “We are pleased to complete the closing as these funds provide the runway to progress operations at our facility. We commenced mining at the start of the new year and now have additional capital in hand to deploy towards the execution of our strategy, value proposition and first production.”
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