Minnova Corporate Update on PL Gold Mine Restart Project and Year End Audit
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) has provided a corporate update on its 100% owned PL Gold Mine restart project. The company plans to initiate work programs to derisk the project and advance its restart, capitalizing on the significant increase in gold prices since their 2017 Feasibility Study. Planned programs include diamond drilling, updating the mineral resource estimate, extracting a bulk sample from a small open pit, updating the mine plan to include open mining methods, and conducting an updated Feasibility Study.
Minnova is also considering the development of an onsite refinery to produce bullion gold (99.999% purity), potentially offering a physical gold-backed digital investment option. The company confirms that its audit process is ongoing, with Annual Financial Statements and MD&A expected to be filed by August 31, 2023.
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ha fornito un aggiornamento aziendale sul progetto di riavvio della PL Gold Mine, di cui detiene il 100%. L'azienda intende avviare programmi di lavoro per ridurre il rischio del progetto e promuovere il suo riavvio, capitalizzando sull'aumento significativo dei prezzi dell'oro rispetto al loro Studio di Fattibilità del 2017. I programmi previsti includono sondaggi diamantati, l'aggiornamento della stima delle risorse minerarie, l'estrazione di un campione di massa da una piccola cava a cielo aperto, l'aggiornamento del piano minerario per includere metodi di estrazione a cielo aperto, e la conduzione di uno studio di fattibilità aggiornato.
Minnova sta anche considerando lo sviluppo di una raffineria in loco per produrre oro in lingotti (99,999% di purezza), offrendo potenzialmente un'opzione di investimento digitale supportata fisicamente dall'oro. L'azienda conferma che il suo processo di audit è in corso, con i Bilanci Finanziari Annuali e il MD&A previsti per essere presentati entro il 31 agosto 2023.
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ha proporcionado una actualización corporativa sobre su proyecto de reinicio de la PL Gold Mine, del cual posee el 100%. La compañía planea iniciar programas de trabajo para disminuir el riesgo del proyecto y avanzar en su reinicio, aprovechando el aumento significativo de los precios del oro desde su Estudio de Viabilidad de 2017. Los programas planificados incluyen perforación con diamante, la actualización de la estimación de recursos minerales, la extracción de una muestra a granel de una pequeña mina a cielo abierto, la actualización del plan minero para incluir métodos de minería a cielo abierto, y la realización de un estudio de viabilidad actualizado.
Minnova también está considerando el desarrollo de una refinería en el sitio para producir oro en lingotes (99.999% de pureza), ofreciendo potencialmente una opción de inversión digital respaldada físicamente por oro. La compañía confirma que su proceso de auditoría está en curso, con los Estados Financieros Anuales y el MD&A que se espera sean presentados antes del 31 de agosto de 2023.
미노바 코퍼레이션(Minnova Corp.)(TSXV: MCI)(OTC Pink: AGRDF)은 100% 소유의 PL 금광 재가동 프로젝트에 대한 기업 업데이트를 제공하였습니다. 회사는 프로젝트의 리스크를 줄이고 재가동을 추진하기 위해 작업 프로그램을 시작할 계획입니다. 이는 2017년 타당성 조사 이후 금 가격이 크게 상승한 것을 활용하는 것입니다. 예정된 프로그램에는 다이아몬드 드릴링, 광물 자원 추정치 업데이트, 작은 노천광에서의 대량 샘플링 추출, 노천 채굴 방법을 포함한 채굴 계획 업데이트, 그리고 업데이트된 타당성 조사 실시가 포함됩니다.
미노바는 또한 물리적 금 지원 디지털 투자 옵션을 제공할 수 있는 현장 정제소 개발을 고려하고 있습니다. 회사는 감사 과정이 계속 진행 중이며, 연간 재무제표와 MD&A가 2023년 8월 31일까지 제출될 예정이라고 확인했습니다.
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) a fourni une mise à jour sur son projet de redémarrage de la PL Gold Mine, dont elle est propriétaire à 100%. L'entreprise prévoit de lancer des programmes de travail pour réduire les risques du projet et avancer dans son redémarrage, en tirant parti de l'augmentation significative des prix de l'or depuis leur étude de faisabilité de 2017. Les programmes prévus incluent forages au diamant, mise à jour de l'estimation des ressources minérales, extraction d'un échantillon en vrac d'une petite carrière à ciel ouvert, mise à jour du plan minier pour inclure des méthodes d'extraction à ciel ouvert, et réalisation d'une étude de faisabilité mise à jour.
Minnova envisage également le développement d'une raffinerie sur site pour produire de l'or en lingots (99,999% de pureté), offrant potentiellement une option d'investissement numérique soutenue physiquement par de l'or. L'entreprise confirme que son processus d'audit est en cours, avec des états financiers annuels et un MD&A qui devraient être déposés d'ici le 31 août 2023.
Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) hat ein Unternehmensupdate zu seinem 100% eigenen PL Goldmine-Restartprojekt gegeben. Das Unternehmen plant, Arbeitsprogramme zu initiieren, um das Risiko des Projekts zu minimieren und den Restart voranzutreiben, wobei es von dem signifikanten Anstieg der Goldpreise seit der Machbarkeitsstudie im Jahr 2017 profitiert. Geplante Programme umfassen Diamantbohrungen, die Aktualisierung der Rohstoffschätzung, die Entnahme einer Massprobe aus einer kleinen Tagebaugrube, die Aktualisierung des Bergbauplans zur Einbeziehung von Tagebaumethoden sowie die Durchführung einer aktualisierten Machbarkeitsstudie.
Minnova erwägt auch die Entwicklung einer vor Ort Raffinerie zur Produktion von Goldbarren (99,999% Reinheit), die möglicherweise eine physisch durch Gold gedeckte digitale Investitionsmöglichkeit bietet. Das Unternehmen bestätigt, dass der Prüfungsprozess im Gange ist, und die Jahresabschlüsse sowie der MD&A bis zum 31. August 2023 eingereicht werden sollen.
- Significant increase in gold price from US$1,250 to over US$2,400 per ounce since 2017 Feasibility Study
- Plans to update mineral resource estimate and Feasibility Study
- Consideration of onsite refinery development for high-purity gold production
- Potential to offer gold-backed digital investment option
- Delay in filing Annual Financial Statements and MD&A
- Need for updated Feasibility Study suggests potential changes in project economics
Toronto, Ontario--(Newsfile Corp. - August 8, 2024) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) "Minnova" or the "Company"), is pleased to provide the following corporate update related the PL Gold Mine.
We are pleased to provide and update on the
Planned PL Gold Mine programs, include;
- Diamond drilling - infill and expansion drilling with a focus on PL North zone
- Update mineral resource estimate - Current mineral resource estimate only includes drill results to June 2017
- Small open pit to extract a bulk sample - update metallurgy
- Updated mine plan to include open mining methods from start of mining operations
- Updated Feasibility Study - the existing Feasibility Study was completed in 2017
Finally, as part of the feasibility study the Company will also evaluate the onsite production of a bullion gold product (
We would also like to confirm that the audit process in on going and the Company anticipates that it will in a position to prepare and file the Annual Financial Statements and MD&A on or prior to August 31, 2023.
About Minnova Corp.
Minnova Corp. is an evolving technology, energy and metals company building a worldwide pipeline of green energy projects. Our subsidiary, Minnova Renewable Energy, is focused on innovative carbon use and carbon reduction technologies. Separately the company is participating in large scale green hydrogen production via electrolysis at the Flin Flon Clean Energy Hub initiative.
Our mining strategy is focused on the restart of its PL Gold Mine, which included completion of a Positive Feasibility Study in 2017. The study concluded the restart of the PL Mine, at an average annual production rate of 46,493 ounces over a minimum 5-year mine life was economically robust. Importantly the global resource remains open to expansion, as does the reserve. The PL Gold Mine benefits from a short pre-production timeline forecast at 15 months, a valid underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth. The project is fully road accessible and close to existing mining infrastructure.
For more information please contact:
Minnova Corp.
Gorden Glenn
President & Chief Executive Officer
For further information, please contact Investor Relations at 647-985-2785 or info@minnovacorp.ca
Visit our website at www.minnovacorp.ca
Forward Looking Statements
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 release.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
NOT FOR DISSEMINATION INTO THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219252
FAQ
What are Minnova Corp's (AGRDF) plans for the PL Gold Mine restart project?
How has the gold price changed since Minnova's (AGRDF) 2017 Feasibility Study?
Is Minnova Corp (AGRDF) considering onsite gold refining at the PL Gold Mine?
When does Minnova Corp (AGRDF) expect to file its Annual Financial Statements and MD&A?
