In these times of increased uncertainties, with a recession looming, a US government that last minute avoided a potentially catastrophic default by approving the debt ceiling bill, and a Fed doubting if they should raise interest rates further or not as inflation is on the way down but still high, Inomin Mines (MINE.V)(FRA:IMC)
After the last rate hike by the Federal Reserve on May 3, 2023, a more dovish stance seems in the cards, being favorable for gold, which printed an all - time high of US$2082/oz Au that day. Inomin Mines (MINE.V)(FRA:IMC) is primarily focusing on their magnesium-nickel Beaver-Lynx project in British Columbia which generated a significant discovery announced last spring, but it also has several very interesting gold-silver projects in Mexico, which of course stand to benefit from the recent developments in gold.
In an uncertain time where 3 substantial US regional banks collapsed and European system bank Credit Suisse was on the verge of a meltdown but got sold just in time to Swiss counterpart UBS for just $3B, all banks supported by substantial packages by other banks and the Swiss Central Bank, gold is doing well, and is hovering around the US$2,000/oz.
During the last PDAC, CEO Greg Ferron of Platinex (PTX:CSE)(9PX:FRA) was busy working with the regulators, Fancamp and investors to close the South Timmins JV and the C$2.5M financing as soon as possible. As there were lots of moving parts at work, CEO Ferron preferred to come out with all relevant news at once, but as the first tranche (C$1.25M) of the financing closed on March 10, 2023, 2 weeks after the intended (and disclosed) closing date but before the Fancamp transaction could be closed, separate news releases had to be announced.
Although lithium juniors are in somewhat of a correction phase after the last round of conferences ignited a real lithium hype, it is good to see Vior Inc. (TSXV:VIO)(FRA:VL51)(OTCQB:VIORF) joining the lithium narrative, as I firmly believe lithium supply will not be able to match demand in the foreseeable future, and shortages and resulting high prices will be the standard.
After acquiring the Muskrat Dam Critical Minerals project in Ontario, with a focus on the extremely hot metal lithium, it was good to see Platinex (PTX:CSE)(9PX:FRA) bringing in Fancamp Exploration (FNC.V) as a partner for the Shining Tree gold project in the same state, as it had 3 district-scale exploration projects in its portfolio by then, which is a bit much for the average C$8-10M market cap.
At a time where the Western hemisphere is looking to become less dependent on China and others for critical metals and minerals and is scrambling for battery metals, Inomin Mines (MINE.V)(FRA:IMC) is focusing on exploring exactly for these commodities. The company already experienced explosive drilling success in 2022 at their Beaver-Lynx project in British Columbia, by intercepting 252m of 20.6% Magnesium and 0.16% Nickel close to surface, accompanied by 4 other impressive holes.
After adding more claims to the highly prospective and strategically located district-scale Shining Tree Gold project and W2 Copper-Nickel-PGE project, both located in mining-friendly Ontario, Platinex Inc (PTX:CSE)(9PX:FRA) decided to expand their horizon, and acquired the Muskrat Dam Critical Minerals project, also located in Ontario.
Platinex Inc (PTX:CSE)(9PX:FRA) doesn’t seem to be slowing down anytime soon, as it has been adding more claims to the highly prospective and strategically located district-scale Shining Tree gold project and recently acquired W2 Copper-Nickel-PGE project, both located in mining-friendly Ontario.
Platinex Inc (PTX:CSE)(9PX:FRA) is developing quite an attractive asset portfolio in Ontario, Canada. The company already owns the highly prospective and strategically located district-scale Shining Tree gold project and very recently acquired the W2 Copper-Nickel-PGE project. Additionally, Platinex holds numerous net smelter return (NSR) royalties in its portfolio.