FULL DISCLOSURE: The Deep Dive is long the equity of Steadright Critical Minerals.
Steadright Critical Minerals (CSE: SCM) is reporting this morning that their 75%-owned subsidiary, NSM Capital Sarl, has formally applied for a mining license for their TitanBeach One project in Morocco.
The license application is said to be based on comprehensive technical, legal, environmental and organizational preparatory work completed on the ground. Meetings in relation to the license application are said to already be scheduled over the coming days with the relevant authorities, with discussions to focus on the allocation of the land on which processing of materials will be conducted.
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“Our team is very pleased to see NSM Capital Sarl applying for a license. This is the culmination of a lot of time, effort and thought on the part of their team. Kudos to this independent group and the very helpful Moroccan professionals who are working towards a successful operation south of Tan-Tan,” commented Matt Lewis, CEO of Steadright Critical Minerals.
The announcement of the filing for a mining license follows Steadright earlier this week filing a Technical Report for the TitanBeach project. Assays from the sands project are said to have returned Fe203 values of up to 79.5%, and TiO2 values as high as 14.9%.
Assay results remain pending from an exploration program conducted on the nearby TitanBeach Two in late November and early December.
Steadright Critical Minerals last traded at $0.33 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.
