Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
PolyMet Mining Corp. (POM-T; PLM-N) announced that the Minnesota State Supreme Court declined to hear a petition for review by environmental groups to a lower court decision regarding the environmental review for the NorthMet copper-nickel-precious metals project.
The company stated that two environmental groups had petitioned the court for review of a unanimous May 28 Court of Appeals decision that upheld the scope of the environmental review prepared for the NorthMet Project by the Minnesota Department of Natural Resources. The company also said the Court rejected the groups’ request for the agency to prepare a supplemental environmental impact statement.
“This action effectively closes out any remaining challenges to the state related to the environmental review and allows us to sharpen our focus on financing, building and operating Minnesota’s first copper-nickel-precious metals mine,” said CEO Jon Cherry.
**
Largo Resources Ltd. (LGO-T) announced that it has formally given notice to Glencore International AG of the non-renewal of its off-take agreement dated May 14, 2008. Largo said the off-take agreement will expire effective April 30, 2020.
“Our current off-take agreement was instrumental in securing the initial financing for the construction of the Maracás Menchen Mine and allowed the company to focus solely on producing among the highest purity vanadium in the world,” Largo CEO Mark Smith said in a statement.
**
Aurion Resources Ltd. (AU-X) announced that B2Gold Corp. (BTO-T) has exercised its option to acquire a 51-per-cent interest in the Finland Joint Venture covering approximately 25,000 hectares, which include the Kutuvuoma and Ahvenjarvi projects.
"Since inception of the agreement, dated January 13, 2016, B2Gold completed over $5-million in exploration expenditures, paid Aurion $50,000 in cash and issued 550,000 B2Gold shares over four-year period," the company stated.
B2Gold has the option to earn an additional 19-per0cent interest by spending a further $10-million over two years, and, if exercised, an additional 5-per-cent interest by completing a feasibility study, for a total of 75 per cent, the company said.
**
Vapen MJ Ventures Corp. (VAPN-C) announced that its gross revenues increased 43 per cent from US$4.7-million for the quarter ended June 30, 2018 to US$6.7-million for the quarter ended June 30, 2019. Net income increased 23 per cent for the quarter ended June 30 to US$1.2-million compared to US$1-million a year earlier.