Battery Mineral Resources (TSX.V: BMR) (OTCQB: BTRMF), a battery minerals company providing shareholders exposure to the global megatrend of electrification, has resumed mill operations and first production of copper concentrates at its Punitaqui project in Chile. The company initiated copper concentrate production after its successful commissioned the recently refurbished and upgraded mineral-processing facility at Punitaqui. According to the announcement, the timeline from first fresh mine feed through the mill to reaching planned capacity is expected to be about nine months. BMR also announced that it closed its $400,000 private placement of senior unsecured convertible debentures and that Weston Energy II LLC, a subscriber for debentures in the private placement, is a “related party” to BMR pursuant to pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). “The commencement of copper concentrate production at Punitaqui marks a significant milestone for BMR and in establishing Chile’s next copper mine,” said Battery Mineral Resources CEO Marti Kostuik in the press release. “Having efficiently applied capital, it has paved the way for near term copper production at Punitaqui and positioning the company favorably to generate meaningful cash flow. With the commencement of copper concentrates production, a proficient operational team, and a promising outlook for robust copper markets, we aim to enhance shareholder value further. We eagerly anticipate sharing our progress and results as 2024 progresses.”
To view the full press release, visit https://ibn.fm/u4jt2
About Battery Mineral Resources Corp.
Battery Mineral Resources (“BMR”) has restarted and is currently ramping up mine and mill operations at the Punitaqui Mining Complex, a historic copper-gold-silver producer, in the Coquimbo region of Chile. The mission of the company is to provide shareholders with an opportunity to realize growth in value via generation of positive cashflow at Punitaqui and to use this momentum as a platform to build a mid-tier, copper-producing company. BMR strives to be a company providing shareholders accretive exposure to the global megatrend of electrification while being focused on growth through cash flow, exploration and acquisitions in favorable mining jurisdictions. Battery Mineral’s mission is the discovery, acquisition and development of battery metals (primarily copper and also cobalt, lithium and graphite), in North America, South America and South Korea and to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the 1-million-plus pound high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services, Inc. (including ESI’s wholly owned USA operating subsidiary, Ozzie’s Inc.), a profitable mainline pipeline and renewable-energy equipment rental and sales company with operations in Alberta, Canada and Arizona. For more information about the company, visit www.BMRCorp.com.
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