Corazon Mining (CZN:AU) has announced Execution of Land Access Agreement
Download the PDF here.
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Barrick Mining (TSX:ABX,NYSE:B) has taken a major step toward ending its months-long standoff with Mali, confirming a deal that will restore its control over one of Africa’s most productive gold operations.
After reports that the two sides had reached an agreement in principle circulated last week, Barrick confirmed on Monday (November 24), it will withdraw its arbitration claim at the World Bank’s dispute-resolution center.
Mali’s government has committed to dropping all charges, releasing detained employees and returning full operational authority for the Loulo-Gounkoto complex.
Tensions spiked in January when Mali’s military government halted gold exports, detained senior Barrick personnel and seized several tonnes of gold from the site.
A local court later appointed former health minister Soumana Makadji to run the operation under state oversight, effectively pushing Barrick out of a mine it has long managed through a joint venture.
The agreement marks a significant reversal of that intervention and paves the way for Loulo-Gounkoto to return to normal operations.
Production only resumed in late October after a separate deal to restart payments to local contractors, though at that time Barrick did not comment publicly on the arrangement.
Monday’s settlement with the government now sets the stage for a full restoration of the joint venture.
The breakthrough also comes as the company faces intensifying pressure on multiple fronts, as activist investor Elliott Investment Management has recently acquired a major stake worth at least US$700 million in the company.
Elliott is known for forcing corporate overhauls in the mining sector, and its arrival has sharpened scrutiny of Barrick’s performance after a year marked by falling production and rising costs.
The company has lagged peers despite record-high gold prices, with analysts citing the setbacks in Mali, ongoing concerns around the massive Reko Diq project in Pakistan, and turbulence in the executive ranks.
That turbulence erupted publicly in September with the abrupt exit of longtime chief executive Mark Bristow, whose relationship with Barrick chair John Thornton had reportedly deteriorated after years of missed guidance and strategic disagreements.
Sources told the Financial Times the two had barely been speaking by the time headhunters were commissioned to evaluate successors.
Interim chief executive Mark Hill has been trying to stabilize the company with a sweeping reorganization. In an internal memo reviewed by Bloomberg, he said Barrick would fold the Pueblo Viejo mine into its North American division and merge its Latin America and Asia Pacific operations.
He also announced leadership changes to sharpen the focus on Barrick’s Nevada mines, one of the company’s most valuable assets but also the site of serious safety lapses this year.
The restructuring has revived speculation about whether Barrick could eventually split its portfolio into separate companies or become a takeover target.
Currently, the company trades at a lower valuation multiple than rivals, making its assets particularly attractive if separated into a North America-focused unit and other housing operations in Africa, Latin America and the Asia Pacific region.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Harmony Gold Mining (NYSE:HMY,JSE:HAR) announced that it has approved development of its Eva Copper project in Queensland after completing an updated feasibility study, with an estimated capital of US$1.75 billion across a three-year window.
The South African miner said Monday (November24) that its board signed off on the Final Investment Decision for the Eva copper project, a 100-percent-owned project in northwest Queensland expected to deliver high margins and a long operating life.
Harmony plans to build a low strip-ratio open-pit mine capable of producing about 65,000 metric tons of copper concentrate annually during its first five years, with an average life-of-mine profile of roughly 60,000 metric tons of copper and 19,000 ounces of gold per year over an estimated 15-year span.
The mine will process about 18 million metric tons of ore per year and carry an all-in sustaining cost of approximately US$2.50 per pound.
CEO Beyers Nel said the feasibility results confirm the company’s shift toward a balanced gold-and-copper portfolio.
“The Eva Copper Feasibility Study delivers a strong, high-confidence outcome that positions Harmony for the next phase of growth as we continue building a high-quality, low-cost portfolio,” he said.
Nel also tied Eva Copper to Harmony’s expanding strategy, pointing to the company’s recently completed MAC Copper acquisition.
“Eva Copper, together with our recent MAC Copper acquisition, creates a compelling platform that brings together the enduring value of gold with the future-facing strength of copper, enhancing cash flow resilience across commodity cycles,” he said.
Last month, Harmony completed its US$1.01 billion acquisition of MAC Copper, giving the company full ownership of the high-grade CSA copper mine in New South Wales.
The company said the purchase builds on its strategic push to strengthen its copper position in Tier-1 jurisdictions. It also expects its two major Australian copper assets to deliver a combined 100,000 metric tons of copper annually once fully commissioned.
Meanwhile, the Eva Copper project was acquired by the company in October 2022 and has since completed 166,000 metres of drilling. The current two-million-metric-ton copper resource underpins the potential for future extensions to the mine’s life.
Harmony anticipates first production in the second half of 2028, a timeline it says aligns with a structural deficit in copper supply that could support stronger prices.
Board approval moves the project into the execution phase. Mobilization to site is expected in the third quarter of fiscal 2026, subject to amendments to the project’s Environmental Authority.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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BTU METALS CORP. (‘BTU’ or the ‘Company’) (TSXV:BTU)(OTCQB:BTUMF) announces that, further to the news release of November 11, 2025, the Company has closed the previously announced, over-subscribed non-brokered private placement of flow-through common shares by the issuance of 17,700,000 flow-through shares at a price of $0.05 per FT Share (the ‘FT Offering’), for gross proceeds of $885,000.
Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of BTU at a price of $0.09 for a period of 12 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).
In connection with the oversubscribed offering, the company paid finders’ fees to eligible finders consisting of $58,450 in cash and 1,106,000 non-transferable common share purchase warrants. Each finder warrant is exercisable to acquire one common share in the capital of the company at an exercise price of $0.05 per common share for a period of 12 months from the date of issuance. Closing of the offering is subject to approval of the TSX Venture Exchange. The securities issued under the offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.
‘The overwhelming response for this financing demonstrates strong market support for BTU’s portfolio of Ontario-based exploration projects in both the prolific Red Lake and Wawa mining districts,’ stated Paul Wood, CEO. We look forward to advancing all of our projects immediately and into 2026.’
About BTU
BTU Metals Corp. is a junior mining exploration company. BTU’s primary assets are the Dixie Halo Project located in Red Lake, Ontario (optioned to Kinross) immediately adjacent to the Kinross Great Bear Project, the Dixie East project and its gold and critical minerals properties in the active Wawa gold district. The Company continues to look to acquire high quality exploration projects to add to its portfolio for the benefit of its stakeholders. The Company has no debt and minimal property obligations.
ON BEHALF OF THE BOARD
‘Paul Wood‘
Paul Wood, CEO, Director
pwood@btumetals.com
BTU Metals Corp.
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain ‘forward-looking information’ within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company is forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions, plans and future actions of the Company.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: risks relating to the global economic climate; dilution; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. The Company has also assumed that no significant events occur outside of the normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Source
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Tyler Herro is expected to make his season debut on Monday, Nov. 24 when the Miami Heat host the Dallas Mavericks, according to ESPN’s Shams Charania.
Herro was dealing with a foot injury last season before suffering an ankle injury during an offseason workout. Herro underwent surgery on that injured ankle in September.
Herro started all 77 games he played in and served as Miami’s leading scorer for the 2024-2025 season. The All-Star guard averaged 23.9 points, 5.5 assists and 5.2 rebounds.
The Heat added Norman Powell during the offseason. He currently leads the team in scoring, averaging 24.9 points per game.
The Heat have won their last four games, including a 127-117 road victory over the Philadelphia 76ers on Sunday, Nov. 23.
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Then there are those who are still on the brink of a playoff berth. Many fantasy managers will have a shot to earn their way into the fantasy postseason over the final few weeks, but it will be critical to nail their streaming options entering Week 13.
There won’t be an NFL teams on bye in Week 13, as the league prepares for its annual Thanksgiving slate. That will give fantasy managers seeking help on the waiver wire plenty of options who can potentially help their teams down the stretch of the season.
Here’s a look at the best players fantasy managers can target on waivers ahead of Week 13.
Week 13 fantasy football waiver wire targets
RB Devin Neal, New Orleans Saints (Rostered in 3% of Yahoo leagues)
Alvin Kamara exited Sunday’s game with a knee injury. The Saints already lost backup running back Kendre Miller for the season to a torn ACL, so if Kamara has to miss time, Neal will likely emerge as the de facto workhorse in New Orleans’ offense.
Neal had just 18 yards on seven carries against the Falcons but he generated an addition 43 yards through the air on five catches. He should be a particularly good PPR option, as the rookie caught 77 passes during his four-year college career at Kansas.
TE Taysom Hill, New Orleans Saints (Rostered in 1% of Yahoo leagues)
If Neal is the safe option to get work in New Orleans, Hill is a big-time wild card. The 35-year-old gadget player led the team in carries Sunday with 10. He turned them into just 17 yards, but his usage is encouraging for those looking for a tight end with scoring upside.
Hill has always been a red-zone weapon during his career, and the 6-2, 221-pounder may be treated as a goal-line bruiser in tandem with the 5-11, 213-pound Neal. Feel free to scoop up Hill if you need scoring upside at tight end – or are just looking to have a good time as fantasy season ends.
RB Chris Rodriguez Jr., Washington Commanders (Rostered in 16% of Yahoo leagues)
Rodriguez didn’t play in Week 12, as the Commanders were on a bye, so he could be a sneaky-good add for those looking for help at running back.
Rodriguez has seemingly emerged as the leader in the Commanders’ backfield-by-committee approach. The Kentucky product has touchdown upside thanks to his 5-11, 224-pound frame and had 79 yards on a team-high 15 carries in his last outing in Week 10. Rodriguez may not always get the volume needed to be an RB2, but he profiles as a rock-solid flex with touchdown upside.
QB C.J. Stroud, Houston Texans (Rostered in 36% of Yahoo leagues)
Before getting hurt against the Broncos, Stroud had averaged 256 yards and 2.3 touchdowns over a four-game span. Davis Mills kept the seat warm for him, going 3-0 in Stroud’s absence, but the third-year quarterback should be on tap to return to action in Week 13.
Houston’s offense appears to be getting better with rookie Jayden Higgins developing into a solid No. 2 receiver and both Nico Collins and Dalton Schultz playing consistently. That should allow Stroud to become a solid streamer, especially entering two potential higher-scoring game against the Indianapolis Colts and Kansas City Chiefs.
WR Andrei Iosivas, Cincinnati Bengals (Rostered in 20% of Yahoo leagues)
Iosivas saw increased action in Week 12 with Ja’Marr Chase suspended. He was targeted a team-high seven times and led the team with 61 receiving yards on four catches in a solid showing.
While Chase will return in Week 13, the Bengals lost Tee Higgins to a concussion at the end of the team’s loss to the New England Patriots. Cincinnati is playing on Thanksgiving, so Higgins isn’t likely to return for that game. That, plus the potential return of Joe Burrow, could open the door for Iosivas to again emerge as a fantasy factor on Thanksgiving.
WR Chimere Dike, Tennessee Titans (Rostered in 14% of Yahoo leagues)
With Elic Ayomanor out, Dike tied for the team lead in targets (7) with Gunnar Helm. The rookie wide-out caught five of those targets for 44 yards and a touchdown while also adding a score on an impressive 90-yard punt return touchdown.
Dike figures to be a big part of what Tennessee does on offense down the stretch with Calvin Ridley out for the season. Feel free to scoop Dike up and hope he can become a high-upside WR3 as he develops more chemistry with Cam Ward.
TE Brenton Strange, Jacksonville Jaguars (Rostered in 13% of Yahoo leagues)
Strange returned to action for the first time since Week 5 in the Jaguars’ win over the Cardinals. He largely picked up where he left off, catching all five of his targets for a team-high 93 receiving yards.
Excluding the game in which Strange was hurt, he is now averaging 4.8 catches for 55 yards per game. He hasn’t yet found his way into the end-zone this season, but his volume is enough to make him a matchup-based starter at tight end who could be a top-10 tight end if he can earn more scoring opportunities.
TE Colston Loveland, Chicago Bears (Rostered in 43% of Yahoo leagues)
Loveland is another tight end who appears to be breaking out. He had a 118-yard, two-touchdown game against the Bengals in Week 9, but since then he has averaged 3.7 catches and 48 yards across three game while finding the end-zone in Week 12.
Loveland appears to have overtaken Cole Kmet as the No. 1 tight end in Chicago’s offense, so adding the rookie first-rounder could pay dividends down the stretch.
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The Dallas Wings were awarded the first pick during the 2026 WNBA draft lottery on Sunday, Nov. 23, and will have plenty of options available to bolster their roster.
The Wings won the lottery for the second year in a row after selecting Paige Bueckers in 2025. The 2026 WNBA draft will be held on April 13.
UConn’s Azzi Fudd has been projected to go No. 1 in many mock drafts. The Wings could also choose Spain’s Awa Fam, UCLA’s Lauren Betts, TCU’s Olivia Miles or LSU’s Flau’jae Johnson.
“We want someone who wants to win,” said Wings forward Maddy Siegrist, who represented the team at the lottery.
Fudd and Bueckers were teammates at UConn, winning the national championship during the 2024–25 season.
Bueckers helped provide some level of hope for Dallas, winning the 2025 WNBA Rookie of the Year award and being named an all-star, but the Wings finished with an overall record of 10-34.
The Wings will be in their first season with coach Jose Fernandez after firing Chris Koclanes after one year.
The Minnesota Lynx will pick second in the draft, followed by the Seattle Storm.
2026 WNBA draft order
1. Dallas Wings
2. Minnesota Lynx
3. Seattle Storm
4. Washington Mystics
5. Chicago Sky
6. Toronto Tempo/Portland Fire
7. Portland Fire/Toronto Tempo
8. Golden State Valkyries
9. Washington Mystics
10. Indiana Fever
11. Washington Mystics
12. Connecticut Sun
13. Atlanta Dream
14. Seattle Storm
15. Connecticut Sun
A coin flip to determine the sixth and seventh picks will be done at a later date.
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California fired football coach Justin Wilcox, the school announced on Sunday, Nov. 23.
The firing comes following a 31-10 loss to rival Stanford on Saturday, Nov. 22. The loss dropped Cal to 6-5 on the season. Senior offensive assistant Nick Rolovich was named the interim coach.
‘I want to thank Justin for all of his contributions to our football program, our athletic department and our university,’ Cal general manager Ron Rivera said. ‘He has always comported himself with class and professionalism. After careful consideration, we believe the time has come for new leadership. We wish Justin the best of luck in his future endeavors.’
Wilcox has been the coach for the Bears since 2017 and has posted a 48-55 record over his nine seasons leading the program. His best season came in 2019, when he led the team to an 8-5 record. The Golden Bears have been between five and seven wins every other season. Cal has not finished with a winning record since 2019.
Cal started the season 3-0 and was 5-2 entering its contest against Virginia Tech on Oct. 24. However, the Bears lost to 42-34 to the Hokies on that day, and have stumbled to a 1-3 record over the past four games.
In the loss to Stanford on Saturday, Cal was called for 13 penalties for 128 yards ― both of which are the most under Wilcox ― and lost three fumbles, including two returned for touchdowns.
‘I understand their pain,’ Wilcox said about Cal fans following the loss on Saturday. ‘I understand the frustration. We’re working as hard as we possibly can to play as good as we can and we didn’t do that tonight.’
Justin Wilcox buyout
Cal owes Wilcox $10,879,167, according to contract information obtained by USA TODAY Sports. Wilcox collected $4.8 million in 2025. His contract ran through the 2027 season.
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- Sanders shared an embrace with his son on the field before the game against the Las Vegas Raiders.
- Deion Sanders had been undecided about attending due to his Colorado football team’s schedule and him not wanting to be a distraction
- Family considerations ultimately led Sanders to make the trip to support his son in person.
Colorado football coach Deion Sanders made a special trip to Las Vegas on Sunday to watch his son Shedeur make his debut as starting quarterback of the NFL’s Cleveland Browns.
And what a time it was for them. Cleveland beat the Las Vegas Raiders, 24-10. Shedeur completed 11 of 20 passes for 209 yards and one touchdown with one interception.
Sanders’s Instagram account shared a video of them embracing before the game.
‘Prime Time!’ Shedeur said as he greeted his dad in a tunnel to the field at Allegiant Stadium.
A group of friends and family also came out to show their support for Shedeur, including Shedeur’s private quarterback trainer Darrell Colbert Jr., his older brother Deion Sanders Jr. and Deion Sanders’ business manager Constance Schwartz-Morini.
After Shedeur completed a 53-yard pass early in the game, CBS cameras showed the cowboy-hatted father smiling, cheering and animated in his perch at the stadium. He later was seen enjoying the game with former NBA player Matt Barnes.
‘Being able to see my family, that was important,’ Shedeur Sanders said after the game. ‘I’m happy they was here to be able to witness it.’
His mother Pilar also attended the game, leading Shedeur to tell a CBS reporter he was thankful that both of his parents are in his life. Deion Sanders filed for divorce from Pilar in 2011, but the two have been present for Shedeur’s big moments, including the NFL draft in April at the family estate in Texas.
‘That’s what life is about − just family,’ Shedeur said afterward.
Deion Sanders, a Pro Football Hall of Famer, had been undecided as recently as Nov. 20 about whether to attend his son’s NFL starting debut in person. His team just dropped a 42-17 loss at home against Arizona State the night before to fall to 3-8 this season. His team also often practices on Sundays. But family won the day in the end, with Sanders noting Shedeur came back to Boulder to surprise him during the Browns’ recent bye weekend.
Deion Sanders said on the “Colorado Football Coaches Show” Nov. 20 he was urged to attend the game.
“You don’t want to be his distraction, but not that I would ever would be,” Sanders said on the show. “But then you think, ‘You know, he came all the way up here to see you?’ So that’s even (a) shorter trip to see him. You start thinking that as a dad, you know. Because you know what it means to him if he just catch a glimpse of him before he walks out.”
That’s what the video showed, a short moment between father and son before he took the field in Las Vegas.
Deion Sanders misses his youngest son and not just as a father. His team has struggled without him in Colorado. The Buffaloes finish the season at Kansas State on Nov. 29.
Shedeur is the first of Deion Sanders’ three sons to play in an NFL game. His eldest son Deion Jr. played college football at SMU. His middle son Shilo played for his father at Colorado and signed with the Tampa Bay Buccaneers as a free agent after not getting drafted in April. But Shilo Sanders was waived by the team before the season.
Follow reporter Brent Schrotenboer @Schrotenboer. Email: bschrotenb@usatoday.com
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Perth, Australia (ABN Newswire) – Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) announced that it has entered into a binding letter of intent (‘LOI’) with Green Canada Corporation Inc (‘GCC’), a 54% owned subsidiary of PTX Metals Inc. (CVE:PTX) to sell the Marshall Uranium Project (‘Marshall’), located in Saskatchewan, Canada.
Key Highlights
– Basin to sell 100% of Marshall Uranium Project to Green Canada Corporation Inc (‘GCC’).
– GCC progressing toward public listing on Canadian Stock Exchange, in conjunction with a reverse takeover of Maackk Capital Corp.
– Basin will receive consideration of up to:
o C$600,000 payable in cash in four equal annual instalments;
o C$300,000 payable in shares over three equal annual instalments; and
o 9.99% of the total issued capital of the newly listed entity.
– GCC to conduct minimum of C$1.5 million of exploration expenditures over 24 months.
– Basin to retain a 25% project level buyback option and three-year Right of first refusal (ROFR) on any future sale.
– Transaction retains exploration upside to Basin shareholders at Marshall and broadens Basin’s leverage to quality uranium assets within the GCC portfolio specifically targeting Canadian unconformity mineralisation in the Baker and Amer Basins in Nunavut and the Otish Basin in Quebec.
– Transaction sharpens Basin’s strategic focus on shallow discovery opportunities.
– Basin and CanAlaska Uranium Ltd (CVE:CVV) (‘CanAlaska’) have also granted GCC a 9- month exclusivity for the North Millennium Project.
The transaction is proposed to occur in parallel to a proposed Reverse Takeover (‘RTO’) by GCC of Maackk Capital Corp (‘MAACKK’) and concurrent minimum C$2.5 million financing and admission to the Canadian Securities Exchange (‘CSE’) or such other stock exchange as may be mutually agreed upon by the parties.
In addition to the Marshall agreement, Basin and CanAlaska have agreed to grant GCC a 9-month exclusivity right to conduct due diligence and, if satisfactory, negotiate the terms of an earn-in option to acquire up to a 51% interest in the North Millennium joint venture project of CanAlaska and BSN.
Managing Director, Pete Moorhouse commented:
‘We are pleased to enter into an agreement and partnership with Green Canada Corporation to advance the Marshall project. The GCC team are well positioned to add value for Basin Shareholders both through the drill testing of the compelling targets at Marshall, and with the broader exposure to the GCC asset base.
We look forward to seeing these assets advance, whilst Basin retains focus on high-grade shallow opportunities’
Terms of the Deal
In consideration, GCC has agreed to the following payments to Basin:
– C$600,000 payable in cash in four equal annual instalments, with the first payment due on closing of the transaction;
– C$300,000 payable in shares, issuable in three equal annual instalments based on the 5-day Volume-Weighted Average Price on the business day immediately preceding the date of issuance; and
– 9.99% of the total issued and outstanding resulting issuer shares on a non-diluted basis after giving effect to the concurrent financing at the time of closing of the proposed RTO, subject to 12-month escrow.
Basin will receive an additional 400,000 shares in the resulting issuer upon closing of the RTO in return for granting the 9-month exclusivity right in the North Millennium joint venture.
Basin will have a right of first refusal on any sale of the Marshall Project by GCC for a period of three years following the closing date of the transaction. In addition, Basin will retain a repurchase right to acquire from GCC a 25% interest in the Marshall Project for C$1,000,000 for a period commencing on the closing date and ending on the earlier of: the date that is five years from the closing date or the date on which GCC has incurred total exploration expenditures of C$10,000,000 on the Marshall Project.
Pursuant to the terms of the LOI, GCC is required to fund exploration expenditures for an initial work program on the Marshall Project to be carried out within twenty-four months from the closing. The Initial Work Program will have a budget in an amount that is the greater of C$1,500,000, and the minimum amount required to maintain the mineral claims comprising the Marshall Project in good standing under applicable governmental regulations.
Basin will also have the right to nominate one director to the board of the resulting issuer.
GCC will retain the right to withdraw from the transaction at any time after the closing of the transaction, in which case the project will return to Basin and no further payments will be required.
The transaction is conditional on final due diligence from GCC, the completion of the RTO of MAACKK and GCC’s concurrent C$2.5 million minimum capital raise.
About Green Canada Corporation
GCC is a 54% owned subsidiary of PTX Metals Inc. (CVE:PTX) and a uranium exploration company with a portfolio of projects located in Thelon Basin, Nunavut, the Athabasca Basin, Saskatchewan and Quebec. Concurrent to the LOI to acquire Basin’s Marshall project, GCC announced that it has entered into a binding letter of intent with MAACKK pursuant to which GCC and MAACKK intend to complete a transaction that would result in a reverse take-over of MAACKK by the shareholders of GCC (the ‘Proposed RTO’). Closing of the Proposed RTO will be subject to, among other things, requisite regulatory approval for the listing of the resulting issuer of the Proposed RTO (the ‘Resulting Issuer’) on the Canadian Securities Exchange or such other stock exchange as may be mutually agreed upon by the parties, along with completion of concurrent financing and execution of the definitive agreements in respect of the acquisition of the Marshall project.
Upon completion of the Proposed RTO, the current directors and officers of MAACKK will resign and it is anticipated that the board of directors of the Resulting Issuer will be reconstituted to consist of Richard J. Mazur, Greg Ferron, Olivier Crottaz and a representative from the Basin.
About the Marshall and North Millennium Projects
The Marshall project is 100% owned by Basin, and the North Millennium Project is under joint venture agreement on a 40:60 basis with CanAlaska.
The Marshall and North Millennium projects are located less than 11 km from Cameco Corporation’s Millennium deposit (104.8Mlb at 3.8% U3O8) and around 40 km from the prolific McArthur River uranium mine, one of the world’s highest-grade uranium operations, refer to Figure 1*. Both projects are deemed prospective for unconformity style uranium exploration.
In 2024, ground electromagnetics (‘EM’) at Marshall identified three main targets which confirms the geological and exploration model. Of note is Target 1, refer to Figure 2*, where modelled EM plates below the unconformity align with a sandstone Z-Tipper Axis Electromagnetic (‘ZTEM’) anomaly, which is interpreted to be alteration within sandstone. The identification of these targets is encouraging and consistent with regional trends in the southeastern Athabasca and provides increased confidence in drill hole targeting.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/F491N9T7
About Basin Energy Ltd:
Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.
Source:
Basin Energy Ltd
Contact:
Pete Moorhouse
Managing Director
pete.m@basinenergy.com.au
+61 7 3667 7449
Chloe Hayes
Investor and Media Relations
chloe@janemorganmanagement.com.au
+61 458619317
News Provided by ABN Newswire via QuoteMedia
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