Critical Elements Corporation: Annual Meeting
June 13 2014 - 12:11PM
Marketwired
Critical Elements Corporation: Annual Meeting
MONTREAL, QUEBEC--(Marketwired - Jun 13, 2014) - Critical
Elements Corporation (TSX-VENTURE:CRE)(OTCQX:CRECF) (FRANKFURT:F12)
announce that, at its annual meeting held on June 13, 2014,
shareholders of the Company approved all the items, including:
- Election of Jean-Sébastien Lavallée, Jean-François Meilleur,
Richard Saint-Jean, Jean-Raymond Lavallée and Marc Simpson as
directors;
- The appointment of KPMG s.r.l./S.E.N.C.R.L. as auditors of the
Corporation for the current financial year.
The Critical Elements Corporation management will be in Japan
from June 16 to 20, 2014 to pursue discussions with a number of
potential users of lithium carbonate and tantalum with the goal of
entering into long-term sales contracts.
About Critical Elements Corporation
Critical Elements is actively developing its 100%-owned Rose
lithium-tantalum flagship project located in Quebec.
A recent financial analysis of the Rose project based on price
forecasts of US$260/kg ($118/lb) for Ta2O5 contained in a tantalite
concentrate and US$6,000/t for lithium carbonate (Li2CO3) showed an
estimated after-tax Internal Rate of Return (IRR) of 25% for the
Rose project, with an estimated Net Present Value (NPV) of CA$279
million at an 8% discount rate. The payback period is estimated at
4.1 years. The pre-tax IRR is estimated at 33% and the NPV at $488
million at a discount rate of 8%. (Mineral resources that are not
mineral reserves and do not have demonstrated economic viability).
(See press release dated November 21, 2011.)
The operation is scheduled to produce 26,606 tons of high purity
(99.9% battery grade) Li2CO3 and 206,670 pounds of Ta2O5 per year
over a 17-year mine life.
The project hosts a current NI 43-101-compliant Indicated
resource of 26.5 million tonnes of 1.30% Li2O Eq. or 0.98% Li2O and
163 ppm Ta2O5 and an Inferred resource of 10.7 million tonnes of
1.14% Li2O Eq. or 0.86% Li2O and 145 ppm Ta2O5.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information"
including without limitation statements relating to realization of
resource estimates, reduction of capital and operating costs,
success of mining operations and the ranking of the project in
terms of production. Readers should not place undue reliance on
forward-looking statements.
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 be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Until a
positive feasibility study has been completed, and even with the
completion of a positive feasibility study, there are no assurances
that the Rose project will be placed into production. Factors that
could affect the outcome include, among others: the actual results
of development activities; project delays; inability to raise the
funds necessary to complete development; general business,
economic, competitive, political and social uncertainties; future
prices of metals; availability of alternative lithium or tantalum
sources; actual rates of recovery; conclusions of economic
evaluations; changes in project parameters as plans continue to be
refined; accidents, labour disputes and other risks of the mining
industry; political instability, terrorism, insurrection or war;
delays in obtaining governmental approvals, necessary permitting or
in the completion of development or construction activities. For a
more detailed discussion of such risks and other factors that could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements, refer to the Company's
filings with Canadian securities regulators available on SEDAR at
www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date
of this news release and the Company disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
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.
Jean-Sebastien Lavallee, P.Geo.President and Chief Executive
Officer819-354-5146president@cecorp.cawww.cecorp.caInvestor
Relations:Paradox Public Relations514-341-0408The Howard Group
Inc.Jeff WalkerSenior
Associate1-888-221-0915jeff@howardgroupinc.comwww.howardgroupinc.com
Critical Elements Lithium (QX) (USOTC:CRECF)
Historical Stock Chart
From Nov 2024 to Dec 2024
Critical Elements Lithium (QX) (USOTC:CRECF)
Historical Stock Chart
From Dec 2023 to Dec 2024
