Hanna Capital Corp., a publicly traded base metals company, announced that it intends to expand its exploratory activities in Africa. The Corporation will concentrate its efforts on assets with promise for gems, diamonds, gold, copper, cobalt, and lithium.
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Paleo-alluvial, syn-sedimentary, and pegmatoidal intrusives are examples of geological environments for these types of properties. Particular attention will be paid to the extraction of mineral resources using fundamental geoscientific principles.
The Corporation’s mineral discovery process will be accomplished by offering the ability to concurrently assess the geological, processing, mining, and economic prospects of immature mining and exploration projects.
Knowing the mode of emplacement and reconstructing the geological history help to improve this procedure. The expertise used will include managing legal, ESG, GIS, remote sensing, mining, process engineering, mine economics, and finance of underdeveloped small- to medium-scale mines (S to MSM).
The Corporation expects to launch its strategy in December 2022, with the start-up phase following in Q1 2023. Veteran geological teams will lead the program, with assistance from experienced African-based business developers and ESG experts. Zambia, the Democratic Republic of the Congo, Namibia, South Africa, Mozambique, and Zimbabwe are among the countries targeted.
Primarily, the Corporation seeks to establish a presence in the Southern African region in terms of mineral development and to establish a partnership between the owner and funder in the mineral and mining development process.
The Corporation will encourage participation in the project discovery process with the goal of:
- Offering the ability to grasp and comprehend the supporting market to obtain seed funds for the initial investments
- Providing knowledge of the target market and the capability to de-risk projects
- Incorporating the development of the local and international capability to assist in the evolution of the S to MSM in terms of geoscientific understanding of the characteristics and project funding
Furthermore, the Corporation announces that, in response to its press release of September 28th, 2022, the Corporation has obtained TSX Venture Control approval for the amendment of the 10,000,000 common share purchase warrants issued to subscribers as part of the Corporation’s private placement, which closed on November 4th, 2020.
The Warrants’ exercise period has been prolonged by two (2) years, from October 23rd, 2022 to October 23rd, 2024. The Warrants’ other terms and conditions will remain unchanged.