EMC Metals Corp. (TSX:EMC) entered into a binding letter of intent to sell 100% of its interest in the Springer Mining Company, including all related mine, mill and tungsten resource assets, to America’s Bullion Royalty Corp., along with certain other Nevada properties, for US$5 million cash. The terms of the sale provide for an immediate and full repayment of a matured US$3 million loan that was secured with the Springer assets.
Articles Tagged "EMC Metals Corp."
EMC Metals Corp. (TSX:EMC) made its first settlement payment to Jervois Mining Limited of A$1.2M in cash, in relation to the Nyngan Scandium project in Australia. The terms of the settlement transfer 100% ownership and control of the Nyngan Scandium project to the Company.
The heavy mineral tungsten was discovered in 18th century Sweden and has since been applied to everything from shaping metals and alloys to lighting filaments.
EMC Metals Corp. (TSX:EMC) announced the resignation of John W. Grubb, Director on the EMC Metals Corp. Board. Mr. Grubb will be moving on as a technical mining advisor to the Company and Board.
EMC Metals Corp. (TSX:EMC) completed the private placement of convertible debentures for total proceeds of USD $650,000 at a price of USD $0.05 per share.
EMC Metals (TSX:EMC) CEO George Putnam spoke with the Investing News Network during PDAC in Toronto about their Springer Tungsten Mine in Nevada and Nyngan Scandium Project in Australia
EMC Metals Corp. (TSX:EMC) announced receiving results from its summer and fall field exploration program at its Tordal property, Norway. The Company reported positive assay results from the work carried out in 2012.
EMC Metals Corp. (TSX:EMC) has settled its dispute with Jervois Mining Limited in an out of court settlement that transfers 100% ownership and control of the Nyngan Scandium project to EMC in return for A$2.6M and a percentage royalty payable to Jervois on 1.7% of sales price for scandium and any other products produced from the site.
EMC Metals Corp. (TSX:EMC) agreed to issue convertible loans for total proceeds of USD$650,000 and the principal amount of the loan may be converted into up to 13,000,000 common shares at a rate of US$0.05 per share. The convertible loans have an interest rate of 10% per annum and a maturity date of 12 months from the closing date.
EMC Metals Corp. (TSX:EMC) announced that the parties in dispute over the Nyngan Scandium Project - EMC Metals and Jervois Mining Limited - are set to commence formal court hearings in the Supreme Court of Victoria, in Melbourne, Australia, beginning February 4, 2013. Pleadings and witness statements have been finalized and filed with the court, as discovery continues, and a final pre-trial session with the Judge concerning trial process orders is set for January 25.