Latest news with #LoHerma
Yahoo
01-07-2025
- Business
- Yahoo
Snow Lake Secures Strategic Stake in Uranium Development Project in Wyoming's Powder River Basin
Winnipeg, Manitoba--(Newsfile Corp. - July 1, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces a cornerstone investment in GTi Energy Ltd. ("GTi Energy"), to advance its Lo Herma uranium project ("Lo Herma") through the next phase of drilling and fieldwork, aimed at expanding and upgrading Lo Herma's mineral resource base. Highlights Snow Lake will invest AUD$1.4million in GTi Energy's AUD$4.5 million equity financing (the "Financing") to support advancement of its Lo Herma ISR amenable uranium project GTi Energy owns 100% of the Lo Herma uranium project, located in the Powder River Basin in Wyoming, the leading uranium producing state in the U.S. GTi Energy recently completed a positive scoping study (the "Scoping Study") on Lo Herma in accordance with JORC (2012)1, which is a preliminary technical and economic assessment of the potential viability of Lo Herma. For more information on the scoping study, see GTi Energy's ASX Announcement dated June 5, 20252 The Scoping Study contemplated an ISR operation with a central processing plant, a JORC (2012) resource estimate of 8.7Mlbs U3O8, a 7-year mine life, an annual production target of 800,000 lbs U3O8 ,with an NPV of A$100 million and a pre-tax IRR of 56% Lo Herma is one of the more advanced development stage uranium projects in the Powder River Basin, and further development holds the potential to increase the uranium production profile of the Powder River Basin in Wyoming The Financing provides GTi Energy with the financial runway to advance Lo Herma through the next phase of drilling and fieldwork, aimed at expanding and upgrading the project's mineral resource base Lo Herma is contiguous to the southern border of the Pine Ridge Uranium Project, a 50/50 joint venture between Snow Lake and Global Uranium and Enrichment Limited Snow Lake's investment in GTi Energy continues a business strategy to make investments in public companies with projects across the spectrum of critical minerals that demonstrate potential to be developed into commercial operations CEO Remarks "Our investment in GTi Energy's equity financing is the most recent example of our strategy to invest in companies with critical minerals projects across the spectrum of critical minerals, including uranium, lithium, rare earths, cesium, and antimony," said Frank Wheatley, CEO of Snow Lake. Mr. Wheatley continued: "With GTi Energy's Lo Herma uranium project located in the prolific Powder River Basin in Wyoming, with a positive scoping study recently released, and against the backdrop of the U.S. Administration's policies underpinning the expansion of nuclear energy in the U.S., we view our investment in GTi Energy as timely, as GTi Energy embarks on a development program to expand it mineral resources at Lo Herma." Financing GTi Energy intends to raise a total of AUD$4.5 million, in two tranches, before costs of the Financing. An initial tranche is anticipated to close on July 9, 2025, with the second tranche scheduled to close following shareholder approval at a shareholder meeting to be scheduled. Proceeds from the Financing will principally be used for mineral resource expansion and infill drilling at Lo Herma, as well as for further hydrogeological and metallurgical analysis, landholding costs, general working capital and costs of the offer. Snow Lake will be granted the right to appoint one member to the GTi Energy Board of Directors, subject to completion of the Financing. Snow Lake's participation in the Financing remains subject to completing its final due diligence on GTi Energy and its assets, before the date of the shareholder meeting. About Snow Lake Resources Ltd. Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on Nasdaq:LITM, with a global portfolio of critical mineral and clean energy projects. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States, and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba, as well as investments in a number of public companies with critical minerals assets. Learn more at Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law. Contact and InformationFrank Wheatley, CEO Investor Relations Investors:ir@ Website: Follow us on Social Media Twitter: LinkedIn: _________________________1 The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("the JORC Code") 2012 edition.2 To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
30-06-2025
- Business
- News.com.au
Break it Down: GTI Energy nabs $4.5m placement
Stockhead's Break it Down brings you today's leading market news in under 90 seconds. In this episode, host Tylah Tully looks at the latest from GTI Energy (ASX:GTR), which has raised $4.5 million dollars to fund resource expansion and infill drilling at its Lo Herma project in Wyoming. Tune in to hear all about it. While GTI Energy is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: GTI Energy nabs $4.5m placement
The Australian
23-04-2025
- Business
- The Australian
Long Shortz: GTI Energy
Tylah Tully chats with GTI Energy (ASX:GTR) executive chairman and CEO Bruce Lane about the company's progress on its Lo Herma scoping study. Lane also dives into US developments related to the uranium sector and potential policy changes that would incentivise domestic production, all paving the way for the company's Wyoming-based project's success. Watch the video to hear all about it. This video was developed in collaboration with GTI Energy, a Stockhead advertiser at the time of publishing. The interviews and discussions in this video are opinions only and not financial or investment advice. Viewers should obtain independent advice based on their own circumstances before making any financial decisions.
