M2i Global, Inc. Executes Exclusive Offtake Agreement with NT Minerals Limited
M2i Global (OTCQB:MTWO) has secured an exclusive offtake agreement with NT Minerals (NTM) for 88,000 tonnes of copper, valued at $850 million. In exchange, M2i will provide 12 million shares to NTM. The agreement covers copper sourced from the Redbank tenements, with additional payments for resource increases. M2i retains pre-funding options for production.
NTM plans to expand resources during the upcoming field season, focusing on the Bluff Resource area and regional reconnaissance work. Key targets include Double Bluff, gravity targets T24, T25, T27, and Archimedes Targets AT2 and AT4. A 1,700m long copper geochemical trend has been identified northeast of Bluff. The 2024 field season is scheduled to begin in early July, subject to access conditions after a significant wet season.
- Secured exclusive offtake agreement for 88,000 tonnes of copper valued at $850 million
- Opportunity to establish a secure supply of critical minerals for the US economy and defense industry
- Potential for resource expansion and upgrades from the Redbank tenements
- Multiple promising copper targets identified for exploration
- Option to participate in production pre-funding opportunities
- Issuance of 12 million shares to NT Minerals , potentially diluting existing shareholders
- Dependence on successful exploration and development of the Redbank tenements
- Field season commencement subject to access conditions after a significant wet season
Gains Access to 88,000 Tonnes of Copper Currently Valued at
RENO, NV / ACCESSWIRE / July 16, 2024 / M2i Global, Inc. ("M2i," the "Company," "we," "our" or "us") (OTCQB:MTWO), a Company specializing in the development and execution of a complete global value supply chain for critical minerals for the U.S. government and U.S. free trade partners, is pleased to announce that it has entered into an exclusive offtake agreement with NT Minerals Limited ("NTM") for 88,000 tonnes of Copper, which is currently valued at
M2i is granted offtake rights for a maximum of 88,000 tonnes copper that is sourced from the Redbank tenements in return for 12 million shares of M2i Global Inc. NTM to receive additional payments for incremental resource increases or upgrades from the Redbank tenements. M2i retains the option to participate in production pre-funding opportunities.
Doug Cole, Executive Chairman of M2i, commented, "We are very excited with our strategic collaboration and to be working with NT Minerals. The opportunity to secure a substantial tonnage of future production of copper is significant in the establishment of a secure supply of critical minerals that are so important to the US economy and defense industry."
NTM Managing Director Rodney Illingworth commentated that "This agreement is a significant step in monetizing the current copper resources already identified and held by NT Minerals. It provides the necessary liquidity without dilution to expand our existing resources during the upcoming field season. It is also a vote of confidence in the Company's ability to identify and develop copper and critical mineral projects and we are excited to be working with M2i to ensure the elimination of sovereign risk on the availability and supply of critical minerals."
NTM's initial area of interest is centered on the Bluff Resource, notably a cluster of targets within a 600 meter radius of the Bluff deposit, these being Double Bluff, gravity targets - T24, T25 and T27 and Archimedes Targets - AT2 and AT4. Each of these targets have varying levels of support from each of the target generation concepts providing the Company confidence to undertake the planned drill program.
NTM considers this clustering of targets important as any future development may be potentially accessed from the same infrastructure. Additionally, a 1,700 m long linear copper geochemical trend has been identified northeast of Bluff, this trend is defined by the RN North geochemical anomaly at its northern extent and the T25 gravity/geochemical anomaly at its southern extent, with potential to extend this anomaly in both directions.
Importantly, this trend also includes the Quartzite Prospect, located some 650m WNW of Bluff and the subject of limited historical drill evaluation (12 holes) with a best reported intercept of 52m @
Regionally, NTM also plans to undertake regional reconnaissance work during the 2024 field season across several areas identified by previous explorers but that have not been fully evaluated since the original work. This includes the Mountain Home Prospect located in the Redbank West group of tenements where a recent geological review noted rock chip sampling along a 150m trend of surface workings/pittings returned assays of
This highly mineralized trend is coincident with an interpreted +5km long structure warranting further investigation. Other areas being targeted for regional reconnaissance work include Copperado, Wollogorang and Siegal Gap.
NTM is well advanced in progressing the requisite approvals for the various programs and has received expressions of interest and pricing from several well credentialed drilling contractors to undertake the planned programs. The commencement of the 2024 field season is currently scheduled for early July and is dependent on access after a very significant wet season.
About M2i Global, Inc. (OTCQB:MTWO)
M2i Global, Inc., through its subsidiary U.S. Minerals and Metals Corp., is an engineering, research, and services firm that brings together people, technology, and solutions from across government, business, not-for-profits, and academia to provide access and availability to critical minerals and metals for the purpose of defense and economic security. We aim to address this compelling need dictated by the evolving global environment predicated in terms of technology, energy, defense, and climate. The Company's vision and purpose is to develop and execute a complete global value supply chain for critical minerals for the U.S. and its free trade partners and create a strategic mineral reserve in partnership with the U.S. Federal Government. The reality is that the world outside of China faces a significant dearth of critical minerals necessary to fuel its reemergent manufacturing base. This supply problem leads to a very clear economic opportunity for the Company and others to develop these resources and supply this exploding demand over the next decade and beyond.
For more information, please visit: https://www.M2icorp.com
FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's website at www.sec.gov.
All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.
Investor Contacts:
IR@M2icorp.com
SOURCE: M2i Global Inc
View the original press release on accesswire.com
FAQ
What is the value of the copper offtake agreement between M2i Global and NT Minerals?
How many shares will M2i Global (MTWO) issue to NT Minerals for the offtake agreement?
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What are the main exploration targets for NT Minerals in the Redbank tenements?
