FULL DISCLOSURE: The Deep Dive is long the equity of Steadright Critical Minerals.
Steadright Critical Minerals (CSE: SCM) has secured additional land claims related to their flagship Titanbeach Titanium Project in Morocco. The company this morning indicated that they have entered into a memorandum of understanding for two further land claims along the shores of the coastal waters of the Atlantic Ocean.
The additional claims will add a further 32 square kilometres of land holdings to the Titanbeach project, bringing total land claims to 224 square kilometres.
Steadright has entered into an arrangement with a research and exploration mining corporation based in Laayoune, Morocco, for the additional claims via the use of an intermediator. The company has agreed to pay up to US$150,000 for the two licenses, with those additional claims to be added to NSM Capital Sarl, the Moroccan entity in which Steadright holds a 75% interest. The two claims are not subject to any royalties.
READ: Steadright Begins Preliminary Economic Assessment On TitanBeach Project
Exploration meanwhile is said to be ongoing at the Titanbeach project, with a larger program slated to begin in November. Current plans call for a mining and environmental license to be applied for in November by Steadright.
Steadright Critical Minerals last traded at $0.26 on the CSE.
FULL DISCLOSURE: Steadright Critical Minerals is a long investment of Canacom Group, the parent company of The Deep Dive. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
