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Latin Metals Inc. (LMS.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.12000.0000 (0.00%)
At close: 9:30AM EDT
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Previous Close0.1200
Open0.1200
Bid0.1200 x N/A
Ask0.1350 x N/A
Day's Range0.1200 - 0.1200
52 Week Range0.0450 - 0.1500
Volume2,500
Avg. Volume21,471
Market Cap5.549M
Beta (5Y Monthly)1.54
PE Ratio (TTM)N/A
EPS (TTM)-0.0190
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Latin Metals Receives Permit to Resume Exploration Activities in Peru

    Latin Metals Inc. ("Latin Metals" or the "Company") - (TSX-V: LMS) (OTCQB: LMSQF) provides an update on the resumption of exploration activities in Peru and details of management changes. The Company's Peruvian subsidiary has received the necessary permits to resume operations in Peru. Over the past months, non-essential activities have been restricted in Peru due to the COVID-19 pandemic, but resumption of certain activities is now allowed with prior authorization from the Ministry of Health.

  • GlobeNewswire

    Latin Metals and Patagonia Gold Sign Definitive Option Agreement for Acquisition of Mina Angela Project, Chubut Province, Argentina

    Latin Metals Receives US$200,000 Cash PaymentVANCOUVER, British Columbia, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) announces that it has entered into a definitive option agreement (“Agreement”) with Patagonia Gold Corp. (“Patagonia”) under the terms of which Patagonia are granted an irrevocable option (the “Option”) to acquire a 100% interest in the Mina Angela property (the “Property”), located in the Province of Chubut, Argentina.  On execution of the Agreement, Latin Metals received a cash payment of US$200,000 from Patagonia (aggregate US$340,000 to date).  The Agreement outlines additional payments of US$750,000, with the next payment of US$250,000 being due on or before March 12, 2021 (Table 1). Upon the exercise of the Option, Patagonia will be required to grant to Latin Metals a 1.25% net smelter returns royalty (“NSR Royalty”)1 on any future production from the Project. Keith Henderson, Latin Metals’ President and CEO stated, “The agreement with Patagonia Gold and the decision to enter into the Option is consistent with Latin Metals’ strategy to joint venture core assets and where possible to monetize non-core assets like Mina Angela, while keeping a retained interest, which in this case is a 1.25% NSR Royalty on future production.  We have a great deal of confidence that Patagonia’s management team can execute on this project and that the retained royalty interest has potential value to Latin Metals’ shareholders.”Mr. Henderson continued, “Mina Angela is owned 100% by Latin Metals, is in a Province where mining activity is currently restricted, and the Company has never incurred exploration costs on the project.  Aggregate cash payments of US$340,000 have been received from Patagonia to date, which helps the Company meet another key strategic objective of securing non-dilutive cash.  These payments contribute to G&A costs as well as financing the acquisition of additional exploration projects throughout South America, such as the Lacsha and Auquis copper projects recently acquired in Peru.”Table 1: Commercial TermsSchedule of PaymentsCash PaymentsRoyalty PaymentsCumulative Earned Interest Within ten days from acceptance of the Offer LetterUS$40,000 (paid)\--\-- Additional Payment as consideration for extension of the due diligence periodUS$50,000 (paid)\--\-- Advance on First Option PaymentUS$50,000 (paid)\--\-- First Option Payment - Upon signing Definitive Option Agreement – September 12, 2020US$200,000 (paid)\--\-- Second Option Payment - Upon exercise of the Option – by March 12, 2021US$250,000\--100% Final Payment2US$500,000\--100% Commencement of Production at the Project\--1.25% NSR Royalty1100% Notes: 1\.  Patagonia can purchase 50% of the NSR Royalty (0.625%) from the Company at any time for US$1 million cash. 2.  Within thirty (30) days from the lifting of the Chubut Province mining bans in such a manner that Patagonia thereafter has the ability to perform exploration and exploitation mining activities on the Property, irrespective of whether Patagonia has obtained the required permits for such exploration and mining activities or the actual performance of such activities. About the Mina Angela PropertyThe Mina Angela property is situated in the Somuncura Massif of southern Argentina and is comprised of 44 individual claims located approximately 50 km east-southeast of Patagonia’s 100% owned Calcatreu gold project.  The Navidad silver and base metal deposit is located 45 km further to the south-southeast of Mina Angela.  About Patagonia GoldPatagonia Gold Corp. is a mining and development company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project.  Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 360 properties in several provinces of Argentina and Chile and is one of the largest landholders in the Province of Santa Cruz, Argentina.About Latin MetalsLatin Metals is a mineral exploration company with a diversified portfolio of gold and copper exploration assets in South America.  The Company operates with an investor-focused Prospect Generator model, which brings potential advantages to shareholders such as exposure to multiple exploration projects reducing discovery risk.  Most of the exploration expense could be borne by JV partners, potentially reducing dilution associated with funding ongoing exploration activities.  The Company’s project portfolio brings exposure to multiple commodities, reducing the impact associated with commodity price cycles.  In all future property agreements, the Company intends to retain a minority interest across the portfolio, providing shareholders with exposure to potential discovery upside.Qualified PersonKeith J. Henderson, P.Geo., is the Company's qualified person as defined by NI 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release.  He has approved the disclosure herein.  Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company.On Behalf of the Board of Directors ofLATIN METALS INC.“Keith Henderson”President & CEOFor further details on the Company readers are referred to the Company's web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.For further information, please contact:Keith HendersonSuite 2300 1177 West Hastings Street Vancouver, BC, V6E 2K3Phone: 604-638-3456 E-mail: info@latin-metals.comNeither 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 news release.Cautionary Note Regarding Forward-Looking StatementsThis news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the signing, negotiation and commercial terms of the Definitive Agreement and exercise of the Option, the anticipated content, commencement, timing and cost of exploration programs in respect of Mina Angela and otherwise, anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to operate as a Prospect Generator by entering into agreements to acquire interests in additional mineral properties and attracting joint venture partners to fund drilling and conduct advanced exploration on its properties, the discovery and delineation of mineral deposits/resources/reserves on Mina Angela, the anticipated results from exploration activities and the anticipated business plans and timing of future activities of the Company, are forward-looking statements.  Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.  In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that it will be able to negotiate the Definitive Agreement and that it will obtain TSX-V acceptance for filing of thereof, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s Argentine projects in a timely manner, including the lifting of restrictions preventing the development of mining activities at Mina Angela, the availability of financing on suitable terms for the development, construction and continued operation of the Company's projects, and the Company’s ability to comply with environmental, health and safety laws.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 differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements.  Such risks and other factors include, among others, actual results of exploration activities, the fact that the Company's granting of the Option to Patagonia is an option only and there is no guarantee that the Option will be exercised by Patagonia or that Patagonia will be satisfied with the lifting of the mining restrictions in the Chubut Province such that it makes the final payment to the Company, the inability of the Company to operate as a Prospect Generator and enter into agreements to acquire interests in additional mineral properties and attract joint venture partners for the exploration and development of same, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Company's mineral properties, the fact that the Company's interests in certain of its mineral properties are only options and there is no guarantee that the interests, if earned, will be certain, requirements for additional capital, future prices of precious metals, copper-gold and lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, other risks of the mining industry, the inability to obtain any necessary governmental and regulatory approvals (including TSX-V acceptance for filing of the Definitive Agreement, any current or future property acquisitions or dispositions), financing or other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices and currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risks and Uncertainties" in the Company's most recent management's discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.Readers are cautioned not to place undue reliance on forward-looking statements.  Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.

  • Latin Metals Acquires the Auquis Copper Property in Peru
    GlobeNewswire

    Latin Metals Acquires the Auquis Copper Property in Peru

    Figure 1 Map of the Auquis copper project, showing historical copper geochemistry results for sediment sampling, which defines a target area approx. 3.5km by 2.0km in area. Figure 2 Project Location Map (left) and locations of operating mines & exploration projects (right), highlighting the Cretaceous mineral belt, the newly acquired Auquis copper project, and the Company’s recently acquired Lacsha copper project. Figure 3 Latin Metals’ Exploration Property PortfolioVANCOUVER, British Columbia, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) announces that it has acquired the Auquis copper property (“Auquis” or the “Project”), located in the Peruvian Coastal Copper Belt (Figures 1 and 2).  As a prospect generator, the Company already holds a portfolio of projects in Argentina and has been actively seeking to acquire copper and precious metal projects in Peru.  The Company recently announced staking of the 4,000-hectare Lacsha copper project (previous news release August 4, 2020) and is now pleased to add the 2,900-hectare Auquis copper project to the portfolio in Peru. Both Auquis and the previously announced Lacsha projects are located within the Coastal Copper Belt, where recent discoveries include copper porphyry, VMS, IOCG and intrusion-related gold deposits. The Coastal Copper Belt in Peru has been a focus for discovery over the last 15 years, however much of the exploration effort has been focused in southern Peru, leaving much of the central and northern portions of the belt significantly under-explored.   Auquis Copper ProjectThe Project is located approximately 377 km south by road from Lima, 95 km from the coast, and is accessible year-round by paved road. The Auquis project is a copper-molybdenum porphyry exploration project that has multiple untested geochemical stream sediment anomalies, including a single target area measuring 3.5 km by 2.0 km where all stream sediment samples grade >300pmm copper.  A total of 42 historical stream sediment samples contain multi-element anomalies across multiple drainages, with copper assay results ranging from 48.7 ppm to 607 ppm. A clearly defined metal zonation is evident in the stream sediment data across the survey area, with a central core of copper-molybdenum anomalies and distal silver and zinc-lead anomalies to the northeast. Future WorkThe Company plans to complete geological mapping combined with surface geochemistry in Q3 2020.  Budgeted work includes stream sediment sampling, lithological and structural geological mapping, and rock chip sampling. Figure 1: Map of the Auquis copper project, showing historical copper geochemistry results for sediment sampling, which defines a target area approx. 3.5km by 2.0km in area. https://www.globenewswire.com/NewsRoom/AttachmentNg/613536c8-8392-4e51-ab7b-7afa88180434Figure 2: Project Location Map (left) and locations of operating mines & exploration projects (right), highlighting the Cretaceous mineral belt, the newly acquired Auquis copper project, and the Company’s recently acquired Lacsha copper project. https://www.globenewswire.com/NewsRoom/AttachmentNg/ec1b4798-265a-486c-a2d9-0347ab89aa2aTechnical AdvisorThe Company announces that it has engaged Daniel MacNeil as a technical advisor to the Company.  Daniel is a precious and base metal specialist with more than 19 years of experience from continental-scale project generation to in-mine resource expansion in a wide variety of geological settings throughout the Americas and Europe. Daniel currently consults with mid-tier, private and junior mining/exploration companies on mine resource expansion and early through advanced exploration target delineation, drill testing and exploration property evaluations  globally.Stock Option GrantThe Company also announced that it has granted 70,000 common share stock options (each an “Option”) to various employees and consultants of the Company and its affiliates.  The Options entitle the holder to purchase shares at a price of $0.14 per share for a period of 36 months from the issue date.Figure 3: Latin Metals’ Exploration Property Portfolio https://www.globenewswire.com/NewsRoom/AttachmentNg/d9d2e37b-c751-46d3-bab5-633fd362baaeAbout PeruMining and extractive industries in the country account for approximately 15% of GDP and Peru is a significant producer of base metals and precious metals.  In world production, Peru is ranked 2 in copper production and 7 in gold production.  Politics in Peru is currently dominated by democratic center-right policy and the government understands the importance of mining to the national economy.  Mining law and regulatory framework in Peru is well-established and the country is competitive with respect to labour and power costs.  Fraser Institute Annual Survey of Mining Companies 2019 results show Peru is the second most attractive jurisdiction in Latin America and the Caribbean. About Latin MetalsLatin Metals is a mineral exploration company with a diversified portfolio of gold and copper exploration assets in South America (Figure 3).  The Company operates with an investor-focused Prospect Generator model, which brings potential advantages to shareholders such as exposure to multiple exploration projects reducing discovery risk.  Most of the exploration expense could be borne by JV partners, potentially reducing dilution associated with funding ongoing exploration activities.  The Company’s project portfolio brings exposure to multiple commodities, reducing the impact associated with commodity price cycles.  In all future deals, the Company intends to retain a minority interest across the portfolio, providing shareholders with exposure to potential discovery upside.QA/QCThe Company has not assessed the QAQC of historical sampling and results thereof.  Historical results are not consistent with the standards of disclosure defined by NI 43-101 and may not necessarily be consistent with CIM best practice.  The Company’s planned future work will include verification samples to verify the location and magnitude of the various surface geochemical anomalies discussed in this news release.Qualified PersonKeith J. Henderson, P.Geo., is the Company's qualified person as defined by NI 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release.  He has approved the disclosure herein.  Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company.On Behalf of the Board of Directors ofLATIN METALS INC.“Keith Henderson”President & CEOFor further details on the Company readers are referred to the Company's web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.For further information, please contact:Keith HendersonSuite 2300 1177 West Hastings Street Vancouver, BC, V6E 2K3Phone: 604-638-3456 E-mail:  info@latin-metals.comNeither 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 news release.Cautionary Note Regarding Forward-Looking StatementsThis news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the negotiation of the Option Agreements and exercise of the Option for the Properties, the anticipated content, commencement, timing and cost of exploration programs in respect of the Properties and otherwise, anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves on the Properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements.  Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.  In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s Argentine projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company’s ability to comply with environmental, health and safety laws.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 differ materially from any future results, performance or achievements expressed or implied by the forward-looking information.  Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Properties, including the geological mapping, prospecting and sampling programs being proposed for the Properties (the "Programs"), actual results of exploration activities, including the Programs, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSX-V acceptance for filing of the Option Agreements, any current or future property acquisitions, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risk Factors" in the Company's latest Management Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.Readers are cautioned not to place undue reliance on forward looking statements.  Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.