Welcome!

News Feed Item

Canadian Metals Provides Bi-Weekly Update on Status of MCTO

MONTREAL, QUEBEC -- (Marketwired) -- 09/23/16 -- Canadian Metals Inc. (the "Corporation") (CSE: CME) announces that further to its application for a Management Cease Trade Order ("MCTO"), which was granted on July 29, 2016, the Corporation has been required to provide bi-weekly status reports in accordance with National Policy 12-203, until such time as the Corporation files its amended technical report (the "Amended Report").

The Corporation reports that, since its most recent press release, there has not been any failure, by the Corporation to fulfill its intentions with respect to satisfying the provisions of the alternative information guidelines, and there have been no additional defaults subsequent to such announcement. Further, other than the information provided below, there has been no additional material information concerning the Corporation and its affairs since its most recent press release that has not been disclosed.

The Amended Report will include a re-scoping of the PEA for a Hybrid Flex plant base case 100% ferrosilicon rather than a base case 100% silicon metal. It is expected that this will impact the values attributed to the project announced previously. Therefore, until the filing of an Amended Report, the press release dated April 28, 2016 and the technical report filed June 22, 2016 should not be relied upon.

Canadian Metals is pleased to announce positive updates for the Langis Preliminary Economic Assessment (PEA) revision, conducted by CIMA+.

The work is progressing well and the Corporation still expects to file the Amended Report on time and within the expected budget with the challenge with the Geology/Resources areas, in receiving timely vital input data on the Block model, namely, database, drawings, and certificates of analysis.

The latest updates of the work progress are as follows:


--  Compliance with the requirements from the Autorite Des Marches
    Financiers (AMF) - comments from AMF were addressed in the report
--  Geology and Resource Model review - the QP Claude Duplessis received the
    data required to be reviewed on Monday, September 19, 2016. His site
    visit is expected to occur early in the week of September 26, 2016.
--  Beneficiation Plant design review and optimizations - the work has been
    completed with the main strategy being to replace the originally
    proposed plant equipment with mobile ones, placed on a chassis and
    wheeled so that the need of extensive civil work and structural design
    and steel materials is eliminated. This is leading to significant
    reduction of the Capital costs required for that part of the project,
    while facilitating the closure procedures and improve environmental
    conditions on site at closure
--  Metallurgical Plant review and optimizations - Viridis IQ completed the
    revision of the Section 17 related to the HF Plant design and revised
    Operating costs to accommodate the new base case of production of FeSi
    instead of mgSi.
--  Capital and Operating costs structure optimization and adhering to the
    local standards and specifics - the work is completed with a lot of cost
    items being optimized to reflect the new changes to FeSi production and
    to reflect more thoroughly the working conditions in the region.
--  Revised project economics including a new Financial Model, based on the
    optimized Capital and Operating costs completed in Canadian Dollars
    (CAN$) - the process is near completion with only the sensitivity
    analysis left
--  Updates in the Conclusions and Recommendations area - the work is almost
    completed
--  Complete National Instrument 43-101 Preliminary Economic Assessment
    Report - the overall original report has been placed in the CIMA+ report
    template and was revised for the most part, with the input from the
    delayed Geology and Resources sections pending only. A draft report
    (without sections 7, 8,9,10,11,12,14, and 23) is ready for a review.
--  Introduction of new Qualified Persons (QP) under the National Instrument
    43-101, qualified to perform the respective mandates with deep
    understanding and vast experience in their respective fields.

About Canadian Metals

Canadian Metals Inc. is focused exclusively on the development of its Langis Project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself to eventually become a North American ferrosilicon producer.

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
SYS-CON Events announced today that Sheng Liang to Keynote at SYS-CON's 19th Cloud Expo, which will take place on November 1-3, 2016 at the Santa Clara Convention Center in Santa Clara, California.
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.