Tianqi Lithium issues profit warning and halts expansion
The Chinese miner warned that it expects to post a net loss of as much as 8.2 billion yuan ($1.1 billion) for 2024.
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2025) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the "Company" or "Aftermath Silver") is pleased to announce the appointment of Galiant Partners as advisors to the Company.
Galiant Partners is a leading independent management and financial consulting firm focused exclusively on the metals, mining and related sectors. Founded in 2017 and headquartered in London, Galiant Partners focuses on supporting mining companies through key stages of project development and the structuring and securing of associated financing. Galiant Partners' CEO, Jan-Erik Back, has a 25-year track record in the metals and mining sectors. He has held senior executive positions in global mining, engineering and investment banking firms. With over US$100bn of previously successfully executed assignments, the Galiant Partners team are currently supporting the growth of a number of mining companies in a number of jurisdictions including Latin America.
Ralph Rushton, President and CEO of Aftermath Silver commented: "Berenguela is undergoing a PEA study to confirm its potential to become a leading precious and energy transition minerals project. Galiant Partners will play an integral part in assisting the Company to optimize its future development and to ensure that Berenguela delivers its full potential as we work to commercialize its unique silver-copper-manganese metals inventory. A key part of Galiant's mandate from Aftermath is to help advance exposure and knowledge of the potential of the Berenguela project amongst end users of manganese. Galiant's expertise in the battery metals field will be invaluable to Aftermath and I look forward to working with Jan-Erik and his team as we take our next critical next steps"
Jan-Erik Back, Founder and CEO of Galiant Partners commented: "Our focus is the identification of mining assets that have the potential to become the next generation of world-class operations. Berenguela has a unique potential to produce silver, copper and high-purity manganese sulphate, each with strong long-term fundamentals, from an established mining jurisdiction. Combined with a proven senior executive team, we are excited for the future of Aftermath Silver and proud to have been chosen to partner with the company"
Stock Option and RSU Grants
As part of the compensation for their services, the Company has granted to Galiant Partners 600,000 incentive stock options. These options are exercisable into common shares of the Company at an exercise price of CAD$0.495 per share for a period of 5 years from the date of grant. The stock options are granted under the Company's stock option plan and are subject to regulatory approval and will vest over a period of 12 months.
In addition, the Company has granted 100,000 options at an exercise price of CAD$0.485 per share for a period of 5 years from the date of grant to a geological consultant of the Company.
The Company has also issued a total of 550,000 Restricted Share Units to a director and a consultant. The RSUs vest one third after 12 months and one third annually thereafter and will fully vest on the date that is 3 years from the date of grant. Once vested, each RSU represents the right to receive one common share of the Company or the equivalent cash thereof at the Company's discretion.
Berenguela Project: Background
About Aftermath Silver Ltd.
Aftermath Silver Ltd. is a leading Canadian junior exploration company focused on silver, and aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various stages of advancement. The Company's projects have been selected based on growth and development potential.
ON BEHALF OF THE BOARD OF DIRECTORS
"Ralph Rushton"Ralph RushtonCEO and Director604-484-7855
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain of the statements and information in this news release constitute "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to interpretation of exploration programs and drill results, predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward‐looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing; differing results and recommendations in the Feasibility Study; and general economic, market or business conditions. In addition, forward‐looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate. The reader is referred to the Company's filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible through Aftermath Silver's profile at www.sedarplus.ca.
There is no certainty that any forward‐looking statement will come to pass, and investors should not place undue reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of the forward‐looking statements in this release, except as required by law.
Cautionary Note to US Investors - Mineral Resources
This News Release has been prepared in accordance with the requirements of Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (''NI 43-101'') and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC"), and information concerning mineralization, deposits, mineral reserve and resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238102
