Wednesday the 30th April 2014,
The Penn Club of New York - 3rd Floor - 30 West 44th Street
Investors, get ready for two impressive mining stories. At our next Proactive Investors forum in New York, Freyja Resources(CVE:FRA), which just received a drilling permit for its flagship Las Cristinas project in Mexico, and Largo Resources(CVE:LGO), which is just weeks away from first vanadium production at its flagship mine in Brazil, are due to take the stage.
The Proactive Investors One2One forums promise to provide direct access to the bosses of some of the nation’s most dynamic growth companies. In six years, Proactive has organized more than 300 events and introduced investors to some of the stock market’s best-performing stock market listed companies.
Indeed, this time is no different. Freyja announced late last month that it received a government drilling permit in Mexico for its Las Cristinas property, with the first 1,000 metre drilling phase expected to start in April. The company, which is aiming to get the property to production by year-end, is expecting more drilling targets to be identified in the coming weeks, with a total of 3,000 metres planned.
The news came after the Canadian junior explorer announced results from its initial sampling program completed last year at the property, which focused on the southern end, with initial results wowing investors on grades as high as 17.95% copper and 429 g/t of silver. Aside from beginning a drilling program, the company also recently raised a total of $615,000 in debt, and an additional $1.02 million through a share exchange private placement with Global Resources Investment Ltd. (GRIT) out of the UK.
Meanwhile, Largo Resources is nearing the start of commercial production on its Maracas vanadium project. Earlier this month, the company said construction is now 99.8% complete, with only the installation of auxiliary items still underway. All systems at the project are now either commissioned or in the final stages of commissioning, Largo told investors recently.
The property, which is considered to be the highest grade vanadium deposit in the world, is expected to begin production at a rate of about 9,600 tonnes per year of vanadium oxide, with cash costs between US$5.50 to US$6.00 a kilogram.
Largo, whose shares have risen 33% year-to-date, has already secured a six-year sale contract with Switzerland's Glencore International for 100% of all vanadium products from the mine. In preparation for production, the company has also been adding to its team, making two high profile appointments of late, including metallurgical engineer Casper Groenewald as deputy technical director of operations in Brazil and Brazil-based metallurgical engineer Alexandre Monteiro as a member on its board of directors.
Directors of Freyja and Largo will be presenting their stories on April 30th at the Penn Club of New York - 3rd Floor - 30 West 44th Street. The companies will make a 20 minute pitch followed by a 10 minute inquisition by a roomful of potential investors.
For more details on the event, and to register, please click here.
Once Freyja and Largo have presented, complimentary canapés and beverages are available for 90 minutes during a break-out session, where attendees can mingle with other guests, or ask more questions to the presenters.
We look forward to seeing you there!