Investor Perception
A diversified vital minerals exploration firm backed by a big partnership with Rio Tinto (NYSE:RIO) paving the way in which for strategic exploration of each uranium and lithium, Saga Metals provides a compelling funding alternative within the world inexperienced vitality transition.
Overview
Saga Metals is a mineral exploration firm centered on the acquisition and exploration of mineral belongings in Canada. It explores for uranium, lithium, titanium-vanadium and excessive purity iron ore deposits. The corporate accomplished its preliminary public providing on September 23, 2024 with a subsequent itemizing on the TSX Enterprise Trade.
Saga Metals has 5 absolutely owned exploration belongings in top-tier mining jurisdictions in Canada. Its main tasks, Double Mer and Legacy are potential for uranium and lithium, respectively. Its secondary belongings are Radar (titanium-vanadium) and North Wind (iron ore).
Uranium ore from the Double Mer uranium venture
The Legacy lithium venture in James Bay, Quebec, is the topic of a CAD $44M joint venture option agreement with Rio Tinto Exploration Canada, signed in June 2024. Beneath the settlement, Rio Tinto will act as a venture supervisor for the exploration of Legacy, with the choice to accumulate an preliminary 51 % curiosity in Legacy over a interval of 4 years.
This JV permits Saga Metals to give attention to its different main asset, the Double Mer Uranium venture, a 25,600-hectare property positioned 90km Northeast of Goose Bay in Labrador.
Firm Highlights
- Saga Metals is an exploration firm with a diversified portfolio of vital minerals belongings in top-tier mining jurisdictions in North America consisting of uranium, lithium, titanium-vanadium and iron ore tasks.
- Saga Metals’ flagship asset is the Double Mer Uranium Property with an 18km development verified with high-resolution magnetic survey, uranium depend radiometrics, constant counts-per-second (cps) readings and rock pattern assay outcomes of as much as 4,280ppm U3O8. With quite a few targets validated within the 2024 summer season exploration program the corporate is planning for its maiden drill program this winter.
- The corporate lately entered a CAD$44M three way partnership with Rio Tinto to advance the exploration of the Legacy Lithium venture in James Bay, Quebec.
- The Legacy Lithium property is devoted to increasing North America’s latest lithium district within the prolific James Bay area.
Key Tasks
Double Mer Uranium Venture
The Double Mer uranium venture is a 1,024 declare spanning 25,600 hectares in jap central Labrador, 90 km north east of Completely happy Valley, Goose Bay. The property lies between Lake Melville and Double Mer, each inlets off the Labrador Sea. The venture has seen thousands and thousands of {dollars} price of exploration from 1970 to 2008, and includes a 10-person winterized camp. An in depth geophysical and radiometric survey, which was supported by subject work, demonstrates the Double Mer property extends past 14 km of strike, with elevated uranium samples and CPS readings. Long run plans embody creating the venture for the potential takeover by a serious, much like the latest acquisition of Fission Uranium by Paladin Power for $1.2 billion.
Legacy Lithium
The Legacy lithium property is devoted to increasing North America’s latest lithium district within the prolific James Bay area of Quebec. The property is topic to the Rio Tinto partnership and the Amirault lithium property acquisition. The tasks span over 65,849 hectares and hosts the identical geological setting alongside strike from Rio Tinto, Winsome Sources, Azimut Exploration, and Loyal Lithium within the La Grande sub-province. James Bay is inside Quebec’s Plan Du Nord, which earmarks thousands and thousands of {dollars} for growth of Quebec’s northern infrastructure.
Legacy is the topic of a joint choice settlement between Saga Metals and Rio Tinto, beneath which Rio Tinto will act as venture supervisor through the first and second choice interval. The optioned property comprises 663 claims spanning 34,243 hectares internet hosting 100 km of hanging paragneiss.
Saga Metals CEO Mike Stier cited the settlement as a “important milestone within the firm’s growth,” offering the mandatory capital for the exploration of the Legacy lithium venture.
Radar
Saga Metals owns 100% of this 17,250 hectare land package deal with highway entry, solely 10 km away from the coastal metropolis of Cartwright, Labrador. The Radar venture is potential for titanium and vanadium, each vital minerals. Saga Metals is planning a $172,500 work program this subject season to extend confidence within the recognized mineralized zone in addition to discover new potential areas of the property.
North Wind
Positioned in west central Labrador, 16 km southwest of Schefferville, Quebec throughout the Labrador Trough, the North Wind iron venture consists of 255 declare blocks beneath a single license. The mineral license contains 6,375 hectares and comprises eight historic drill holes which shaped a part of New Millennium Iron’s useful resource estimate 43-101 in 2013. The typical grade of the drill holes, which now sit throughout the North Wind Iron property, was 21 % iron over the entire eight drill holes that totaled 590 meters. Saga Metals is conducting a small boots-on-the-ground program, which it plans to progress right into a drill program after affirmation of structural measurements of a potential deposit.
Administration Workforce
Michael Stier – Chief Government Officer and Director
Educated in enterprise administration and finance, Michael Stier has spent the previous 15 years centered on and constructing experience in capital markets. Skilled in company construction, finance, enterprise growth, IPOs, M&A and wealth administration, Stier served as a CIBC IIROC licensed senior monetary advisor, senior analyst for a personal fairness firm and extra lately holds government and directorship roles with personal corporations and publicly listed issuers. He has consulted in industries together with mining, oil & gasoline, fintech, VR, eSports, well being, life sciences and biotech. Along with Saga, Stier has acted for a number of public entities and at the moment sits on the board of Rektron Group Inc, LaFleur Minerals Inc, GoldHaven Sources Corp.
Terence Lee – Chief Monetary Officer
Terence Lee is a CPA with over 9 years of finance expertise in reporting beneath Worldwide Monetary Reporting Requirements. Lee has labored in monetary planning, evaluation and reporting for corporations throughout numerous industries together with mining, know-how, actual property, life sciences, schooling and personal healthcare. Lee graduated with a BA from Simon Fraser College, a Diploma of Accounting from UBC’s Sauder Faculty of Enterprise and articled with BDO LLP. Lee is CFO of assorted personal and publicly listed corporations.
Michael Garagan – Chief Geological Officer
With a Bachelor of Science in Geology, Michael Garagan has 15 years of expertise within the exploration business with tasks internationally together with Africa, Asia, North and South America. He encountered a various expertise of deposit kinds from gold to base metals in porphyry, orogenic, epithermal and VMS deposits to uranium and lithium pegmatites. Notable tasks embody B2 Gold’s Otjikoto venture in Namibia, Evening Hawk’s Colomac venture in NWT, Unigold’s Neita venture within the Dominican Republic, in addition to Hudbay’s Lalor Mine in Snowlake, Manitoba.
Michael Waldkirch – Unbiased Director
Michael Waldkirch is a CPA and CGA with over 25 years {of professional} expertise. Since 1998, he has led the accounting agency of Michael Waldkirch & Firm, specializing in accounting, tax and enterprise consultancy companies to all kinds of private and non-private corporations. He has represented all kinds of public companies together with mining, oil and gasoline and know-how corporations listed on the TSX, TSXV, NYSE-American, NASDAQ and OTC-BB. He has served as CFO of quite a few Canadian and US publicly listed corporations, together with Gold Commonplace Ventures and Barksdale Sources and is at the moment an impartial board member of US Gold Corp. (NASDAQ:USAU).