Latest news with #MagnaTerra
The Australian
05-07-2025
- Business
- The Australian
Deep tech merger forms MagnaTerra Technologies
A new deep tech company, MagnaTerra, has been formed after the merger of globally leading startups NextOre and MRead MagnaTerra's launch follows an $11 million capital raise and support from some of Australia's leading investors in technology, science and mining. The company combines more than two decades of world-class innovation in magnetic resonance (MR) sensing developed by Australia's national science agency the CSIRO to detect minerals, explosives and drugs at a molecular level Special Report: Australia has a new globally focused deep tech company in MagnaTerra Technologies following the merger of mining innovator NextOre and explosives detection startup MRead. The combined company MagnaTerra Technologies has been backed in an $11 million capital raise supported by a number of leading investors in technology, science and mining. MagnaTerra brings together more than two decades of innovation in magnetic resonance (MR) sensing developed by Australia's national science agency the CSIRO. The rapid, accurate and safe detection technology – similar to that used by MRIs in healthcare – can identify minerals, explosives and narcotics at a molecular level. NextOre has applied highly penetrative technology to ore sorting to become a global leader in mining technology after it was spun out of a CSIRO R&D project. It's since ruggedised and commercialised the sensors for use over conveyor belts and haul trucks in mines across the globe. MRead has adapted the tech to develop world-class expertise in landmine and narcotics detection. Growth to meet global demand The capital raise will fund further developments in game-changing sensors for the defence, critical minerals, border security and humanitarian demining markets, where global demand is intensifying. This will include the development of detection capabilities for explosives, critical minerals for bulk sorting and iron ore applications. Resources sector investment and advisory house RFC Ambrian invested in the raise via its QCM fund. The round also attracted high-net-worth investors introduced by Shaw and Partners. The company's capital table additionally includes the CSIRO, engineering group Worley, electronic solutions developer Codan and global industrial manufacturer Gebr Pfeiffer SE. RFC Ambrian has been an investor in MRead and NextOre since their founding. RFC chair Rob Adamson will also chair the newly formed entity and said MagnaTerra was a natural fit with the fund's mandate. 'MagnaTerra is a sovereign tech platform with real revenue, high-impact IP and clear global applications,' Mr Adamson said. 'The company takes outstanding, world-leading detection technology developed by our national science agency, the CSIRO, that has significant potential to improve the economics and reduce the environmental impact of producing copper and other critical minerals. 'It additionally has important applications in the detection of explosives for humanitarian demining, border security and defence,' he said. Shared core IP, specialist applications MagnaTerra will continue to operate under established brands: NextOre for minerals; and MRead for security, defence and humanitarian demining applications. NextOre's systems are already operating in Chile, Zambia and the Philippines, with customers including Lundin Mining, First Quantum and Newcrest. Its platform helps copper miners offset the effects of declining ore grades by enabling cost-effective sorting of the valuable mineral from waste. NextOre's tech also dramatically reduces energy, water and chemical use by rejecting waste rock close to the source. It's now being adapted for lithium and iron ore, with future applications across critical minerals such as cobalt, antimony and bismuth. 'By enabling 100 per cent ore scanning in real time, our technology makes mines more productive and sustainable,' NextOre CEO Chris Beal said. 'That makes MagnaTerra a compelling opportunity for investors looking for scalable solutions at the intersection of deep tech, sustainability and security.' Like NextOre's sensors, MRead's handheld mine detector was developed in partnership with the CSIRO. It has since been trialled successfully in Angola with The HALO Trust, a forerunner global demining. Angola, Afghanistan and Iraq still have an estimated 10 million mines each, Cambodia an estimated seven million and more than two million landmines have been laid in Ukraine since 2022, with demining organisations scrambling to remove them. MRead's sensors are estimated to cut clearance times by up to 30 per cent by dramatically reducing false positives compared to metal detectors. Using MR sensing it directly detects RDX – one of two main explosive compounds commonly used in landmines globally. R&D has commenced on the other major explosive compound, TNT. 'Landmines are one of the great unresolved global challenges. Our technology promises to save lives and restore land to communities faster and more safely,' MRead and MagnaTerra CEO John Shanahan said. The same MR technology can be adapted to detect narcotics and explosives in cargo, without opening packages or using harmful radiation. 'This merger is a consolidation of world-leading science, engineering and commercial momentum into a single vehicle with global reach,' Mr Shanahan said. From left: MagnaTerra chairman Rob Adamson, MRead & MagnaTerra CEO John Shanahan and NextOre CEO Chris Beal. This article was developed in collaboration with NextOre, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Associated Press
27-02-2025
- Business
- Associated Press
Magna Terra Acquires Large Strategic Property Further Enhancing Its Rocky Brook Project in Northern New Brunswick
TORONTO, ON / ACCESS Newswire / February 27, 2025 / Magna Terra Minerals Inc. (the 'Company' or 'Magna Terra') (TSXV:MTT) is pleased to announce that it has optioned a large strategic exploration land package; the Restigouche Property ('Restigouche' or the 'Property') adding significant additional scale and exploration upside to its Rocky Brook Project ('Rocky Brook' or the 'Project'), located in the prolific Bathurst Mining Camp of northern New Brunswick. Restigouche comprises approximately 6,605 hectares in 24 mineral claims, located adjacent to and along strike from the Murray Brook Deposit; the largest undeveloped VMS project in New Brunswick owned by Canadian Copper Inc. The acquisition of Restigouche brings the total land package of the greater Rocky Brook Project now owned 100% by Magna Terra to 17,104 hectares in 57 mineral claims, making the Company one of the single largest strategic landholders in this historic mining camp (Figure 1). Restigouche Property Highlights The Property covers a 40-kilometre extent of favourable California Lake felsic volcanic and sedimentary rocks that are host to the nearby Restigouche, Murray Brook, and Caribou Deposits; The Property covers the C-4 and C-5 footwall Cu-rich 'feeder' zones; Previous historical drilling at the C-4 zone in hole C-4 that intersected 4.36 m grading 0.2% Cu, 1.6% Pb and 6.74% Zn (from 17.3 to 21.6 m). The best intersection in the C-5 area was reported in hole C-5 that intersected 2.06% Cu and 0.57% Zn over 4.5 m (from 51.9 to 56.4 metres); Located within the prolific Bathurst Mining Camp and top-tier mining jurisdiction of New Brunswick; and Year-round accessibility with road access to the majority of the Property. 'We are very excited to make another strategic acquisition in the prolific Bathurst Mining Camp in northern New Brunswick. Restigouche adds significant further scale and exploration upside to the greater Rocky Brook Project at a very reasonable overall cost. The large land package that now makes up the Rocky Brook Project gives the Company and its shareholders further exposure to a world-class base - critical metals camp, as well as high grade precious metals exploration upside. With Canadian Copper Inc. advancing development of the Murray Brook VMS deposit along with its bid to acquire the historic Caribou Mine and Mill infrastructure, there is renewed interest in this historic yet underexplored mining camp. The recent discovery of high-grade gold at the Lynx Zone by Puma and subsequent recent strategic investment by Kinross to advance the Williams Brook Project, highlights the growing importance of this area for gold prospectivity as well. This further acquisition dovetails well with our forward-looking strategy and our technical expertise in Atlantic Canada. We will continue to look at all opportunities to add value and optionality for Magna Terra shareholders and enhance our portfolio of quality, low-cost exploration assets. We look forward in 2025 to completing a full data compilation on the Rocky Brook Project and undertaking initial 'boots on the ground' exploration activities to advance the numerous opportunities we see for significant discovery potential.' ~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc. Restigouche Property The Restigouche Property covers approximately 40 kilometres of prospective strike length following the contact between felsic volcanic and sedimentary rocks of the Ordovician Mount Brittain Formation (California Lake Group). This horizon is host to the nearby stratiform volcanogenic zinc-lead-silver-copper, past-producing, Restigouche deposit and its underlying Cu-rich footwall stringer (feeder) C-4 and C-5 zones. A total of 755,978 tonnes of ore grading 6.45% Zn, 4.87% Pb, and 107 g/t Ag was mined from Restigouche in the late 1990s and 2008 by Breakwater Resource and Blue Note Mining (Armstrong, 2021*). An historical measured and indicated mineral resource comprising 1.08 million tonnes grading 5.00% Zn, 3.30% Pb, 0.22% Cu, 46.30 g/t Ag, and 0.52 g/t Au and an historical inferred mineral resource comprising 0.58 million tonnes grading 6.10% Zn, 4.30% Pb, 0.28% Cu, 67.83 g/t Ag, and 0.81 g/t Au were estimated by Trevali Mining in 2021 (Armstrong, 2021*). The C-4 and C-5 zones sit on the Property immediately to the northwest of the Restigouche deposit and are significant in that these zones represent the copper-rich footwall to the Restigouche deposit that have not been the focus of previous mining nor extensive drill testing. The best intersection in the C-4 area was reported in hole C-4 that intersected 4.36 m grading 0.2% Cu, 1.6% Pb and 6.74% Zn (from 17.3 to 21.6 m). The best intersections in the C-5 area were reported in hole C-5 that intersected 2.06% Cu and 0.57% Zn over 4.5 m (from 51.9 to 56.4 metres) and in hole C-84 that intersected 1.3 m grading 1.4% Cu (from 26.3 to 27.6 m) (Hamilton, 2015^^). There are several other mineral occurrences on the Property that have not been tested by significant advanced exploration and include the Tower Brook, Upsalquitch Lake, and Cook Savoie occurrences. The Restigouche Property sits immediately southwest along strike from the nearby Murray Brook Deposit and Caribou Mines in an area that has not received as much exploration as these more developed deposits. The Murray Brook Deposit hosts a Measured & Indicated mineral resource of21.1 Mt grading 2.49% Zn, 0.45 % Cu, 0.91 % Pb, 0.56 g/t Au, and 38.6 g/t Ag (1.41% CuEq or 4.77% ZnEq)(NI43-101 technical report by Stone et al., 2023^). The nearby Caribou Mine and Mill has been in production intermittently since its discovery, with the most recent mining by Trevali Mining Corporation from 2015 to 2022 and is currently on care and maintenance. The Caribou Complex currently hosts a 3,000 tonne per day SAG (semi-autogenous grinding) mill. Canadian Copper Inc. is currently in the process of acquiring the Caribou Complex with plans to mine and process the ore from their 100% owned Murray Brook Deposit at Caribou. The Bathurst Mining Camp The Bathurst Mining Camp is one of the world's oldest base metal (lead, zinc, copper, gold and silver) mining districts hosting one of Canada's largest volcanogenic massive sulphide (VMS) deposits, with the past-producing Brunswick No. 12 Mine having operated for 49 years. The Bathurst Mining Camp is host to over 46 mineral deposits, several of which have been mined, including the Brunswick No. 6, Heath Steele, Wedge, Stratmat, Half Mile Lake, Caribou and Murray Brook. A total of 136,643,367 tonnes of ore grading 3.44% Pb, 8.74% Zn, 0.37% Cu, and 102.2 g/t Ag were mined from the Bathurst Mining Camp (McCutcheon and Walker, 2020**). Figure 1: Mineral claims, mineral occurrences and geology of the Restigouche Property. The Property covers an approximate 40-kilometre strike extent of the contact between felsic volcanic (yellow) and sedimentary rocks (blue) of the Mount Brittain Formation (California Lake Group). Option Agreement Terms The Company has acquired the Restigouche Property (covering 24 mineral claims) from Prospect Or Corp., ('Prospect Or'), under an option agreement dated February 26, 2025. The Company can earn a 100% interest in the Rocky Brook Project by issuing 266,000 common shares on signing; with $50,000 in cash and $110,000 in cash and/or consideration shares payable over a four-year period ending February 26, 2029 for the agreement. Prospect Or retains a 2% Net Smelter Return Royalty ('NSR') with 1% of the NSR purchasable at anytime by Magna Terra for $1,000,000. Magna Terra has a Right of First Refusal on the remaining 1% NSR. All share issuances will be based on the greater of $0.05 per share or the 10-day volume weighted average price on the date a payment is due, and the Company elects to make such payment in common shares. As such, the maximum number of common shares issuable by the Company with respect to the potential share consideration payable for the agreement is 2,466,000 common shares. The common shares which may be issued under the agreements will be subject to a regulatory four month and one day hold period from their date of issuance and are subject to approval by the TSX Venture Exchange. Qualified Person and Technical Notes This news release has been reviewed and approved by David A. Copeland, a 'Qualified Person', under National Instrument 43-101 - Standard for Disclosure for Mineral Projects. All quoted drill core results and references to historical resources or mine production quantities and grades were compiled from historic assessment and government reports obtained from the government of New Brunswick. The Qualified Person has not completed sufficient work to validate these historic results. *Armstrong, B., 2021: Report Of Work Ground Gravity And Pulse Em Surveys - Restigouche Trevali Mining (New Brunswick) Ltd. On: Restigouche Mineral Claim 7403. Mineral Assessment Report for Trevali Mining (New Brunswick) Ltd. ^^Hamilton, A., 2015: Report of Diamond Drill Hole Compilation on the Restigouche Property (Claim no. 1802), NTS Sheet 21 O/07 & 21 O/10, New Brunswick. Mineral Assessment Report for Wolfden Resource Corp. ^"Technical Report and Updated Mineral Resource Estimate of the Murray Brook ZN-PB-CU-AG Project New Brunswick Canada' (effective October 3, 2023) prepared by P&E Mining Consultants Inc. for Canadian Copper, and filed on **McCutcheon, S. R., & Walker, J. A. (2020). Great Mining Camps of Canada 8. The Bathurst Mining Camp, New Brunswick, Part 2: Mining History and Contributions to Society. Geoscience Canada, 47(3), 143-166 About Magna Terra Magna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging our ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned Humber Copper-Cobalt Project in Newfoundland and Labrador and our 100%-owned Cape Spencer Gold Project in New Brunswick. In addition, the Company has optioned the Great Northern Project in Newfoundland to Gold Hunter Resources Inc. for total cash and share consideration of $9.5 million over a 2-year period. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its Boleadora Project being advanced by Newmont Corp. under an option to purchase agreement valued at US$1 million in cash over a 6-year period and including a 2% NSR capped at US$20 million; a precious metals discovery on its Luna Roja Project proximal to Cerrado Gold's operating Don Nicholas Project infrastructure, as well as several additional district scale drill ready projects available for purchase or option/joint venture. Forward Looking Statements Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statements Regarding Forward Looking Information This news release contains forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the ability of the Company to file a report that complies with Regulation 43-101. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: 'believes', 'expects', 'anticipates', 'intends', 'estimates', 'plans', 'may', 'should', 'would', 'will', 'potential', 'scheduled' or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, and the ability of the author of the Technical Reports to finalize same. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include the inability of the Company to execute its proposed business plans and carry out planned future activities. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, future prices of gold, changes in the financial markets and in the demand for precious metals, changes in laws, regulations and policies affecting the mineral exploration industry, and the Company's investment and operation in the mineral exploration sector, as well as the risks and uncertainties which are more fully described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. Magna Terra Minerals Inc. Lewis Lawrick
Associated Press
11-02-2025
- Business
- Associated Press
Magna Terra Announces Upsize To Flow-Through Private Placement
TORONTO, ON / ACCESS Newswire / February 10, 2025 / Magna Terra Minerals Inc. (the 'Company' or 'Magna Terra') (TSXV:MTT) is pleased to announce an upsizing to its previously announced premium flow-through financing (the 'Offering') (refer to the news release dated January 22, 2025). The Offering will now consist of an issuance of up to $325,000 of premium flow-through common shares of the Company at a price of $0.09 per share for an issuance of up to 3,611,111 premium flow-through common shares; and an issuance of up to $175,000 of flow-through common shares of the Company at a price of $0.08 per share for an issuance of up to 2,187,500 flow-through common shares, for total gross proceeds of up to $500,000. The gross proceeds from the issuance of the premium flow-through and flow-through common shares will be used to incur 'Canadian exploration expenses' that qualify as 'flow-through critical mineral mining expenditures' (as such terms are defined in the Income Tax Act (Canada)) related to the Company's mineral exploration projects, primarily for preliminary exploration programs at the Company's recently acquired Humber Project in western Newfoundland and Rocky Brook Project in northern New Brunswick. The Company expects that an Insider of the Company will be participating in the Offering. Insider subscriptions are considered to be a 'related party transaction' for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(b) of MI 61-101 (Issuer Not Listed on a Specified Market). Additionally, the Company is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(b) of MI 61-101 (Fair Market Value Not More Than $2,500,000). In connection with the Offering, the Company may pay finder's fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a regulatory four month and one day hold period. The Offering is subject to approval by the TSX Venture Exchange. About Magna Terra Magna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging our ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned Humber Copper-Cobalt Project in Newfoundland and Labrador, our 100% owned Rocky Brook Project in northern New Brunswick, as well as our 100%-owned Cape Spencer Gold Project in southern New Brunswick. In addition, the Company has recently optioned the Great Northern Project in Newfoundland to Gold Hunter Resources Inc. for total cash and share consideration of $9.5 million over a 2-year period. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its Boleadora Project being advanced by Newmont Corporation under an option to purchase agreement valued at US$1 million in cash over a 6-year period and including a 2% NSR capped at US$20 million; a precious metals discovery on its Luna Roja Project proximal to Cerrado Gold's operating Don Nicholas Project infrastructure, as well as several additional district scale drill ready projects available for purchase or option/joint venture. Forward Looking Statements Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statements Regarding Forward Looking Information This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the '1933 Act') or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. This news release includes certain forward-looking statements concerning the use of proceeds of the Offering, the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. Magna Terra Minerals Inc. Lewis Lawrick
