Last C$0.10 CAD
Change Today -0.01 / -9.52%
Volume 318.7K
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As of 3:59 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

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emc metals corp (EMC) Details

EMC Metals Corp. explores for and develops specialty metals. The company primarily explores for scandium, rare earth minerals, nickel, cobalt, boron, manganese, tantalum, titanium, and zirconium. Its principal properties include the Nyngan scandium project located in New South Wales, Australia; and the Tørdal scandium/rare earth minerals property in Norway. The company was formerly known as Golden Predator Mines Inc. and changed its name to EMC Metals Corp. in March 2009. EMC Metals Corp. was founded in 2006 and is headquartered in Sparks, Nevada.

3 Employees
Last Reported Date: 03/25/14
Founded in 2006

emc metals corp (EMC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $200.0K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $100.0K
Vice President of Project Development
Total Annual Compensation: $51.9K
Compensation as of Fiscal Year 2013.

emc metals corp (EMC) Key Developments

EMC Metals Corp. Gets USD 2.5 Million Loan Facility with Scandium Investments

EMC Metals Corp. has reported that it secured a USD 2.5 million loan facility with Scandium Investments. The proceeds of the loan are intended to extinguish all outstanding financial obligations related to a February 2013 negotiated settlement arrangement securing rights to the Nyngan Scandium Project. In this regard, the company repaid USD 1.2 million in maturing indebtedness on existing debt, and will use the remaining loan proceeds to pay the final AUD 1.4 million installment of the Nyngan settlement payment due June 30. Completion of these two payments secures 100% ownership of the Nyngan Scandium Project for EMC. This USD 2.5 million loan includes a convertible feature, exercisable by either the lender or EMC into an effective 20% joint venture (JV) interest in both the company's Nyngan and Honeybugle Scandium Projects, provided certain conditions are met by EMC. 18 month, USD 2.5 million term loan, principal due on maturity, Loan interest rate increases in increments from 4% to 12% p.a. over the loan term, Full loan is convertible into an effective 20% joint venture interest in Nyngan & Honeybugle, Conversion at lender's option, or automatically, when EMC raises USD 3 million in equity, The 20% joint venture partner has a carried interest until EMC meets two milestones: filing a Feasibility Study on SEDAR, and receiving a mining license, on either joint venture property, Joint venture partner becomes fully participating on development and build costs thereafter, Joint venture partner holds an option to convert 20% joint venture interest into equivalent value of EMC shares, at market values, rather than participate in construction, and the joint venture partner's option to convert its project interest to EMC shares is a one-time option, at such time as the partner becomes fully participating on project costs. In addition, pursuant to the terms of the loan agreement, an affiliate of the lender has subscribed for CAD 250,000 of the private placement, which would bring the total gross proceeds to CAD 912,500 upon closing of the first tranche. The company will pay finder's fees on a portion of the financing.

EMC Metals Corp. Presents at Cambridge House International Canadian Investor Conference 2014, Jun-01-2014 01:50 PM

EMC Metals Corp. Presents at Cambridge House International Canadian Investor Conference 2014, Jun-01-2014 01:50 PM. Venue: Vancouver Convention Centre West, 1055 Canada Place, Vancouver, BC, V6C 0C3, Canada.

EMC Metals Corp. Drills 30 Holes at Honeybugle

EMC Metals Corp. announced completion of an initial program of 30 air core (AC) drill holes at its Honeybugle property (Exploration License: EL7977) in New South Wales (NSW), Australia, targeting scandium (Sc). Highlights of initial drilling program results: The high 3-meter intercept graded 572 ppm scandium (hole EHAC 11); EHAC 11 also generated two additional high grade scandium intercepts, grading 510 ppm and 415 ppm, each over 3 meters, The program identified a 13-hole cluster which was of particular interest; intercepts on these 13 holes averaged 270 ppm scandium over a total 273 meters, at an average continuous thickness of 21 meters per hole, representing a total of 57% (354 meters) of total initial program drilling. The 13 holes produced 29 individual (3-meter) intercepts over 300 ppm, representing 31% of the mineralized intercepts in the 273 meters of interest, and this initial 30-hole AC exploratory drill program generated a total of 620 meters of scandium drill/assay results, over approximately 1 square kilometer on the property. The 13 holes highlighted in the table are grouped together on either side of Coffills Lane, and represent all of the drill locations where meaningful intercept thickness generated scandium grades exceeding 175 ppm. Some of these 13 holes showed significant scandium values on the immediate surface, and alternately, other holes exhibited favorable scandium grades that began at shallow depth. The high grade Sc sample was found in a 21-24 meter interval (572 ppm), although several holes produced better than 350 ppm Sc intercepts at depths of under 9 meters. The deepest hole (EHAC 7) was drilled to 57 meters, showing good scandium grades over a 12-meter horizon (245 ppm) near the bottom of the hole, from 39 to 51 meters depth. Higher scandium grades were associated with higher iron levels. Holes were drilled to a depth where they contacted the fresh ultramafic bedrock, which generally signalled the end of any scandium enrichment zones. The drill plan divided Seaford into four sub-areas, 1-4, as highlighted on the map below. Area 1 was relatively higher ground and therefore the least impacted by ground moisture. Consequently, this dryer area received the great attention, although that had been the general intention in the plan. Area 1 received 17 holes, with 13 presented in detail in the table above. Areas 2-4 were each intended as step-out areas that need to be further examined in the next program. The three step-out areas did not generate results of particular note, although hole locations were not optimal due to ground conditions and access. Area 2 received 3 holes, 60 meters total, and generated Sc grades from 45-75 ppm, Area 3 received 4 holes, 87 meters total, and generated Sc grades from 47-122 ppm, Area 4 received 5 holes, 72 meters total, and generated Sc grades from 60-101 ppm, and the average depth of all of these holes was 18 meters, with the deepest 30 meters.


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