What makes the Record Ridge project special?
It contains 43 million tonnes of ore at 24.6% MgO (10.6 million tonnes of Mg), plus 18.9 million tonnes of SiO₂, 3.8 million tonnes of Fe₂O₃, and 103,000 tonnes of NiO. PFS shows NPV C$872M and IRR 72%, payback in 1.5 years.
What is the status of the approval process?
Draft Minister’s Designation Report is positively available – the project does not require an additional environmental assessment, and regulatory processes are underway. Support from the Osoyoos Indian Band is provided.
What financing is in progress?
Current development is financed by private placements (~C$0.75M) and recent warrant exercises. Stock option programs support employee retention.
Which markets is the company targeting?
Magnesium is positioned as a lightweight metal for the battery, automotive, and electronics industries. The project supports diversification away from China/Russia imports.
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