EMC Metals announces that it has made an A$1.2M cash payment to Jervois Mining this week, pursuant to the agreed settlement to its dispute with Jervois in relation to the Nyngan Scandium project in NSW, Australia. The terms of the February 2013 settlement transfer 100% ownership and control of the Nyngan Scandium project to EMC, in return for two cash payments and a percentage royalty payable to Jervois on sales of [...]
EMC Metals announced today the resignation of John W. Grubb from the board of directors of EMC Metals Corp. Mr. Grubb was appointed to the EMC Board as an independent Director in May of 2012, and will move to a position on the EMC Advisory Committee, as a technical mining advisor to the Company and Board. EMC has no plans to replace Mr. Grubb on the Board at this time.
EMC Metals announces it has completed the previously announced private placement (see February 4, 2013 news release) of convertible debentures for gross proceeds of USD$650,000. The convertible debentures are convertible into common shares of the Company at a price of USD$0.05 per share for a period of 12 months from the closing date, and bear interest at the rate of 10% per annum.
EMC Metals is pleased to announce promising results from field exploration work on the Tordal property during the summer and fall months of 2012, focussed on scandium-bearing pegmatites. The 2012 work included independent assay results of pegmatite rock samples taken from one specific property area, and also includes an extensive pegmatite mapping program covering approximately 30 sq km. The assay results indicated the [...]
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