Lifezone Metals Limited - LZM STOCK NEWS

Lifezone Metals (NYSE: LZM) has initiated the project financing process for the Kabanga Nickel Project in Tanzania, partnering with BHP. The U.S. International Development Finance (DFC) has provided a Letter of Interest for considering loans as part of the project's financing package. Societe Generale has been appointed as the lead financial advisor to Kabanga Nickel

The Kabanga Nickel Project is recognized as one of the world's largest and highest-grade undeveloped nickel sulfide deposits. It aims to utilize Lifezone's Hydromet technology to significantly reduce emissions compared to traditional smelting methods. The project is supported by the Partnership of Global Infrastructure and Investment (PGI) and is part of the Minerals Security Partnership, a collaboration of 14 countries and the EU.

Lifezone Metals (NYSE: LZM) has initiated discussions with U.S. and Tanzanian officials to advance investment in critical minerals projects in Africa, focusing on the Kabanga Nickel Project in Tanzania. The project, a partnership between Lifezone, the Tanzanian government, and BHP Group , is considered one of the world's largest undeveloped nickel sulfide deposits. Lifezone has signed a retainer letter with the U.S. International Development Finance (DFC) to evaluate political risk insurance coverage for future investments in the project.

The Kabanga Project has gained recognition under the Partnership for Global Infrastructure and Investment (PGI) and the Minerals Security Partnership, highlighting its significance in developing sustainable critical mineral supply chains. Lifezone plans to use its Hydromet Technology, which is expected to reduce emissions and costs compared to traditional smelting methods. The project's Definitive Feasibility Study is set to be completed in September.

Lifezone Metals (NYSE: LZM) reports progress on its Kabanga Nickel Project in Tanzania and its platinum group metals recycling partnership with Glencore in the US. Key highlights include:

- Kabanga Definitive Feasibility Study nearing completion, expected in September
- Over 2 million hours worked without lost time injury at Kabanga
- Production of first nickel, copper, and cobalt metal cathode samples from Kabanga ore
- 95% completion of compensation payments to affected persons
- $63.5 million cash position as of June 30, 2024
- Basic and diluted loss per share of $0.14 for H1 2024

The company is advancing towards establishing a fully integrated mine-to-metal operation in Tanzania, benefiting from ongoing infrastructure developments in rail and hydropower.

Lifezone Metals (NYSE: LZM) has achieved a significant milestone by producing the first-ever nickel, copper, and cobalt cathode samples from the Kabanga Nickel Project in Tanzania. This breakthrough was accomplished through semi-continuous pilot scale refinery test work at the company's Simulus Laboratory in Perth, Australia.

The metals were extracted from flotation concentrate derived from borehole core samples, marking the first production since the deposit's discovery in 1975. CEO Chris Showalter emphasized the importance of this achievement for the project's future and sustainable metals production in Tanzania. CTO Dr. Mike Adams highlighted the effectiveness of their hydrometallurgical techniques and the pilot plant's performance, which closely matched process simulation models.

The extensive test work aims to confirm design criteria for the Kahama refinery, with leach extractions reported as high and consistent with previously announced figures. Lifezone's acquisition of Simulus in 2023 has enhanced their capabilities, allowing for faster testing, better IP protection, and improved cost control.

Lifezone Metals (NYSE: LZM) announced the results of its 2024 Annual General Meeting held in the Isle of Man. Key resolutions included the reception of the company's accounts for the financial year ending December 31, 2023, and the re-election of three Class I Directors. The resolutions passed with the following votes:

- Accounts for the financial year: 100.00% For.

- John Dowd re-elected: 99.87% For.

- Govind Friedland re-elected: 98.77% For.

- Ambassador Mwanaidi Maajar re-elected: 99.77% For.

75.57% of the company’s outstanding ordinary shares were represented at the meeting.

Lifezone Metals provided an update on its operations and unaudited Q1 2024 financial summary, highlighting achievements at the Kabanga Nickel Project in Tanzania and partnerships with BHP and Glencore. The company received various licenses and achieved key milestones in advancing the project. With a healthy cash position, significant progress was made in the first quarter of 2024, including pilot projects and sustainability initiatives.

Lifezone Metals (NYSE: LZM) will release its operational update and unaudited financial summary for the first quarter of 2024 on Monday, May 13, 2024. The company will host a virtual presentation for shareholders, investors, and media to discuss the Q1 summary and outlook, followed by a Q&A session with senior management. Lifezone Metals focuses on providing cleaner and more responsible metals production and recycling, with a focus on the Kabanga Nickel Project in Tanzania and platinum group metals recycling. A Definitive Feasibility Study for the Kabanga project is expected in Q3 2024.