Atlas Salt Announces Management Changes
Atlas Salt (TSXV:SALT, OTCQB:REMRF) announced the departure of CEO Rick LaBelle effective March 19, 2025, with Chairman Patrick Laracy assuming interim executive management responsibilities. The company will initiate recruitment for a new CEO.
The company continues to advance its Great Atlantic salt project in western Newfoundland, having completed 17 of 20 geotechnical drill holes for planning twin decline access. According to the May 2024 Technical Report, the project features a 34-year mine life producing 2.5 million tonnes annually, with an after-tax IRR of 18.5% and NPV(8%) of $553 million.
The project's advantages include shallow depth accessible via declines, electric power optimization for low carbon emissions, deep-water port proximity, and environmental assessment clearance. The company has engaged Endeavour Financial and plans marketing initiatives to highlight project benefits.
Atlas Salt (TSXV:SALT, OTCQB:REMRF) ha annunciato le dimissioni del CEO Rick LaBelle, con effetto dal 19 marzo 2025, con il presidente Patrick Laracy che assumerà le responsabilità di gestione esecutiva ad interim. L'azienda avvierà il reclutamento per un nuovo CEO.
L'azienda continua a portare avanti il suo progetto salino Great Atlantic nel Newfoundland occidentale, avendo completato 17 dei 20 fori di perforazione geotecnica per pianificare l'accesso a doppio declino. Secondo il Rapporto Tecnico di maggio 2024, il progetto prevede una vita mineraria di 34 anni con una produzione annuale di 2,5 milioni di tonnellate, con un TIR dopo le tasse del 18,5% e un NPV(8%) di $553 milioni.
I vantaggi del progetto includono una profondità ridotta accessibile tramite declini, ottimizzazione dell'energia elettrica per basse emissioni di carbonio, vicinanza a un porto in acque profonde e autorizzazione per la valutazione ambientale. L'azienda ha ingaggiato Endeavour Financial e pianifica iniziative di marketing per evidenziare i benefici del progetto.
Atlas Salt (TSXV:SALT, OTCQB:REMRF) anunció la salida del CEO Rick LaBelle, efectiva el 19 de marzo de 2025, con el presidente Patrick Laracy asumiendo las responsabilidades de gestión ejecutiva interina. La empresa iniciará el reclutamiento para un nuevo CEO.
La compañía sigue avanzando en su proyecto de sal Great Atlantic en el oeste de Newfoundland, habiendo completado 17 de 20 perforaciones geotécnicas para planificar el acceso por doble declive. Según el Informe Técnico de mayo de 2024, el proyecto cuenta con una vida útil de mina de 34 años que produce 2,5 millones de toneladas anuales, con una TIR después de impuestos del 18,5% y un NPV(8%) de $553 millones.
Las ventajas del proyecto incluyen una profundidad poco profunda accesible a través de declives, optimización de energía eléctrica para bajas emisiones de carbono, proximidad a un puerto de aguas profundas y autorización de evaluación ambiental. La empresa ha contratado a Endeavour Financial y planea iniciativas de marketing para resaltar los beneficios del proyecto.
아틀라스 솔트 (TSXV:SALT, OTCQB:REMRF)는 CEO 릭 라벨(Rick LaBelle)이 2025년 3월 19일부로 퇴임한다고 발표했으며, 의장 패트릭 라라시(Patrick Laracy)가 임시 경영 책임을 맡게 됩니다. 회사는 새로운 CEO를 채용할 계획입니다.
회사는 서부 뉴펀들랜드에 위치한 그레이트 애틀랜틱 소금 프로젝트를 계속 진행하고 있으며, 쌍둥이 경사 접근을 계획하기 위해 20개의 지질 공사 중 17개를 완료했습니다. 2024년 5월 기술 보고서에 따르면, 이 프로젝트는 34년의 광산 수명을 가지며 연간 250만 톤을 생산하고, 세후 내부 수익률(IRR)은 18.5%, NPV(8%)는 $553백만입니다.
프로젝트의 장점으로는 경사로 접근할 수 있는 얕은 깊이, 낮은 탄소 배출을 위한 전력 최적화, 깊은 수역의 항구 근접성, 환경 평가 승인 등이 있습니다. 회사는 엔데버 파이낸셜(Endeavour Financial)을 고용했으며, 프로젝트의 이점을 강조하기 위한 마케팅 계획을 수립하고 있습니다.
Atlas Salt (TSXV:SALT, OTCQB:REMRF) a annoncé le départ de son PDG Rick LaBelle, effectif le 19 mars 2025, avec le président Patrick Laracy assumant les responsabilités de gestion exécutive par intérim. L'entreprise va entamer le recrutement d'un nouveau PDG.
L'entreprise continue de faire avancer son projet de sel Great Atlantic dans l'ouest de Terre-Neuve, ayant complété 17 des 20 forages géotechniques pour planifier un accès par double déclin. Selon le Rapport Technique de mai 2024, le projet présente une durée de vie minière de 34 ans avec une production annuelle de 2,5 millions de tonnes, avec un TRI après impôt de 18,5% et un VAN(8%) de 553 millions de dollars.
Les avantages du projet incluent une profondeur faible accessible par des déclins, une optimisation de l'énergie électrique pour de faibles émissions de carbone, la proximité d'un port en eaux profondes et l'approbation de l'évaluation environnementale. L'entreprise a engagé Endeavour Financial et prévoit des initiatives de marketing pour mettre en avant les avantages du projet.
Atlas Salt (TSXV:SALT, OTCQB:REMRF) gab die Abberufung von CEO Rick LaBelle mit Wirkung zum 19. März 2025 bekannt, wobei der Vorsitzende Patrick Laracy die interimistische Geschäftsführung übernehmen wird. Das Unternehmen wird mit der Rekrutierung eines neuen CEO beginnen.
Das Unternehmen setzt die Fortschritte bei seinem Great Atlantic Salzprojekt im Westen von Neufundland fort und hat 17 von 20 geotechnischen Bohrungen zur Planung des Zugangs über zwei Abgänge abgeschlossen. Laut dem technischen Bericht vom Mai 2024 hat das Projekt eine Lebensdauer von 34 Jahren mit einer jährlichen Produktion von 2,5 Millionen Tonnen, einer nach Steuern berechneten IRR von 18,5% und einem NPV(8%) von 553 Millionen Dollar.
Zu den Vorteilen des Projekts gehören die geringe Tiefe, die über Abgänge zugänglich ist, die Optimierung der elektrischen Energie für niedrige Kohlenstoffemissionen, die Nähe zu einem Tiefwasserhafen und die Genehmigung der Umweltbewertung. Das Unternehmen hat Endeavour Financial beauftragt und plant Marketinginitiativen, um die Vorteile des Projekts hervorzuheben.
- Project demonstrates strong economics with $553M NPV and 18.5% IRR
- Environmental assessment clearance already obtained
- Advanced stage of development with 85% of geotechnical drilling completed
- Strategic infrastructure advantages including shallow depth and deep-water port access
- Low carbon emissions design through electric power optimization
- Unexpected CEO departure creating leadership uncertainty
- Project still requires securing financing for construction
- Interim management arrangement may delay strategic decisions
ST. JOHN'S, NL / ACCESS Newswire / March 19, 2025 / Atlas Salt Inc. (the "Company" or "Atlas Salt")(TSXV:SALT)(OTCQB:REMRF) announces that through mutual agreement the services of Mr. Rick LaBelle as CEO and Director will cease effective March 19, 2025. The Company will immediately commence the recruitment process to hire a new CEO. In the interim, Mr. Patrick Laracy, Chairman will assume executive management responsibilities.
Mr. Laracy commented "Rick has transitioned the company from the feasibility stage to development including environmental clearance, detailed engineering and preconstruction work. We would like to acknowledge and thank him for his astute management to get us to the next phase of financing and construction."
Mr. LaBelle commented "I have assembled a first-rate team to pursue development of the Great Atlantic Salt deposit and steered the Company through the critical permitting processes. The project is nearing the start of construction, and the next steps will focus on the financial components necessary for completion. Its an appropriate time for the transition".
Looking forward, the Company will continue to progress towards construction and development with a focus on project financing. In addition to the engagement of Endeavour Financial (news release December 10, 2024), the Company will undertake marketing initiatives to communicate the many positive attributes of the Great Atlantic salt project and its other assets towards enhancing shareholder value.
The Company also reports that its current geotechnical drill program has completed 17 of 20 holes. These holes are designed to trace the route of the twin declines to access the deposit. Geotechnical analysis of core from these holes will inform the detailed decline excavation parameters.
The Great Atlantic salt deposit is located in western Newfoundland. The "Technical Report on the Great Atlantic Salt Project, Newfoundland and Labrador, Canada", as amended on May 1, 2024 and prepared by SLR Consulting (Canada) Ltd. is available on our website ( www.atlassalt.com ) and has been filed on SEDAR+ under the Company's issuer profile ( www.sedarplus.ca ). The report evaluates the salt deposit at a base case of 2.5 million tonnes per year over a 34-year mine life with an after-tax internal rate of return of 18.5 % and an after-tax net present value (
Patrick J. Laracy, P. Geo., Chairman of Atlas Salt, is the qualified person who has reviewed and approved the technical contents of this news release as defined in National Instrument 43-101.
About Atlas Salt Inc.
Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement.
For information, please contact:
Patrick Laracy, Chairman
investors@atlassalt.com
(709) 739-9545
We seek safe harbor.
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of required permits, contract agreements, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
SOURCE: Atlas Salt Inc.
View the original press release on ACCESS Newswire
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