ROK Resources Inc. , as a twenty-five percent shareholder and manager of operations of Hub City Lithium Corp. , is pleased to announce the highlights of Hub City Lithium's Preliminary Economic Assessment on the Viewfield Lithium Brine Project, Saskatchewan. The PEA outlines the estimated production of battery-quality lithium carbonate equivalent over a 23-year period, which represents an estimated pre-tax internal rate of [...]
ROK Resources Inc. as a twenty-five percent shareholder and manager of operations of Hub City Lithium Corp. , is pleased to report significant advancements and milestones in its lithium project: successful results from a direct lithium extraction pilot project, successful production of pure battery grade lithium carbonate, expected timing of direct lithium extraction field pilot, increased acreage in core operating area [...]
ROK Resources Inc. has filed its interim Financial Results and Management Discussion & Analysis for the three and nine months ended September 30, 2023. Q3 2023 HIGHLIGHTS Production up 10% YoY and 17% QoQ: Production averaged 3,858 boepd in the period, representing 10% growth compared to Q3 2022 and 17% growth compared to Q2 2023. Outperformed production forecast: Production exceeded the Company's average Q3 2023 forecast [...]
ROK Resources Inc. is pleased to provide an operations update for phase one of its Southeast Saskatchewan drilling program, consisting of 5 gross operated wells. The Company will initiate the second phase of its drilling program in early October, which will include 5 gross operated wells in Southeast Saskatchewan and 1 gross non-operated well in Kaybob Alberta. The Company remains focused on increasing free cash flow [...]
ROK Resources Inc. has filed its interim Financial Results and Management Discussion & Analysis for the three and six months ended June 30, 2023 and provides an update on the second lithium well drilled. Q2 2023 HIGHLIGHTS Production up 8% YoY: Production was up 8% from 3,054 boepd in Q2 2022, to 3,297 boepd in Q2 2023. Net Debt reduced by 90% YoY: Net debt was reduced from $38.4 million at June 30, 2022, to $3.8 million [...]
ROK Resources Inc. , has filed its interim Financial Results and Management Discussion and Analysis for the three months ended March 31, 2023. Financial and Operating Highlights In Q1 2023, the Company realized production volume of 372,570 total boe , resulting in crude and natural gas sales of $24.1 million and funds from operations of $13.3 million. This equates to an operating netback, after hedging, per boe of $33.71 [...]
EMP Metals Corp. is pleased to announce the results of Hub City Lithium Corp. National Instrument 43-101 Technical Report on the lithium brine potential and preliminary resource assessment for the Mansur and Viewfield project areas. The Preliminary Assessment confirms an inferred lithium resource of 1.15 million tonnes of lithium carbonate equivalent at a weighted average grade greater than 143 mg/l within Hub City [...]
ROK Resources Inc. , is pleased to announce the full repayment of its non-revolving term loan , 20 months prior to expiry. The Term Loan was obtained in January 2023 and was fully repaid, without pre-payment penalties, through a combination of monthly operating cash flow and strategic non-operated asset dispositions. Since March 2022, the Company has retired more than $55 million of debt while increasing its base [...]
ROK Resources Inc. is pleased to announce the results of its April 1, 2023 independent reserves evaluation , which was conducted by McDaniel & Associates of Calgary and was conducted in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluators Handbook and National Instrument 51-101 - Standards for Disclosure of Oil and Gas Activities . The reserve volumes are inclusive of [...]
ROK Resources Inc. has filed its Annual Financial Results, Reserve Report, and Management Discussion & Analysis for the year ended December 31, 2022. Financial and Operating Highlights In Q4 2022, the Company realized production volume of 326,469 total boe , resulting in crude and natural gas sales of $23.9 million and funds from operations of $14.9 million. This equates to an operating netback, after hedging, per boe of [...]
ROK Resources Inc. has completed its previously announced dispositions of certain non-core assets for total combined proceeds of approximately $47.25 million, before normal closing adjustments . The Assets are comprised of ROK's non-operated interest in the Weyburn Unit and two smaller non-core assets located in Saskatchewan. The Transactions are consistent with ROK's strategic plan, focusing on debt reduction and [...]
ROK Resources Inc. is pleased to announce it has entered into separate Asset Purchase and Sale Agreements to divest of certain non-core assets in Saskatchewan for total combined proceeds of approximately $47.25 million, which includes the sale of ROK's non-operated 2.11685% interest in the Weyburn Unit to Rife Resources Ltd. for total proceeds of approximately $44.5 million, before normal closing adjustments . Two smaller [...]
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