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As of 2:06 PM 12/12/14 All times are local (Market data is delayed by at least 15 minutes).

west melville metals inc (WMM) Snapshot

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02/10/14 - C$0.11
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Market Cap
526.1K
Average Volume 10 Days
27.5K
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Shares Outstanding
52.6M
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west melville metals inc (WMM) Details

West Melville Metals Inc., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Canada and Greenland. It explores for iron ore and specialty metals. The company holds an option to acquire up to a 70% undivided interest in the Fraser Bay Iron property covering 3,228 acres located near the west coast of the Melville Peninsula in Nunavut Territory, Canada. It also has an agreement to acquire a 100% undivided interest in the Greenland property covering a total of 34,494.64 hectares in south Greenland. The company was formerly known as West Melville Iron Company Ltd. and changed its name to West Melville Metals Inc. in January 2012. West Melville Metals Inc. was incorporated in 2011 and is based in Vancouver, Canada.

Founded in 2011

west melville metals inc (WMM) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$175.4K
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

west melville metals inc (WMM) Key Developments

West Melville Metals Inc. Announces Positive Results for the First Phase of Metallurgical Test Work on the Isortoq Project, Greenland

West Melville Metals Inc. announced that the first phase of the metallurgical test work being conducted on the Isortoq Project by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) in Perth, Australia has been successfully completed. Highlights includes: Positive metallurgical test results with scope for further improvements with optimization; A simple beneficiation process yields a clean, high grade concentrate (50.2% Fe; 20.9% TiO2 and 0.34% V2O5); Best leaching results achieved in the hydrochloric acid system, with separation of iron and vanadium from titanium (titanium remains in the leach residue); Leach efficiency of >95% for vanadium and >80% for iron, with >95% of extraction occurring within 30 minutes; and These results represent the successful completion of the first stage in the development of a hydro-metallurgical process flow sheet aimed at commercially extracting iron, titanium and vanadium from the Isortoq deposit. An initial 25 kilogram representative sample of the mineralised body was crushed and milled to 120 microns and then subjected to a low intensity magnetic separation process with the resultant concentrate assayed for key chemical elements. Five separate leach tests were then completed using three different acid systems in order to establish the leaching characteristics of the concentrate. The leach tests were each undertaken for a period of 10 hours at a temperature of 90deg centigrade at atmospheric pressure, with kinetic sampling of both leach liquor and residual solids over the duration of the test. Two tests were conducted using different concentrations of hydrochloric acid (28% and 21%), two with sulphuric acid (42% and 29.7% strength) and one test using nitric acid at 60% strength. The results of the Phase 1 test work are positive with scope for further improvements with optimization. The simple beneficiation process yielded a mass pull of 50.8% to the magnetic fraction to create a clean concentrate that assayed 50.2% Fe; 20.9% TiO(2) and 0.34% V(2) O(5), which is notably higher than the grade achieved in previous beneficiation test work. With respect to the leach tests, some particularly encouraging results came from the hydrochloric acid system with selective deportment of vanadium and most of the iron into the leach liquor and titanium remaining in the solid residue. Extraction efficiency was >95% for vanadium and >80% for iron in the hydrochloric acid systems, with >95% of the leach extraction occurring within the first 30 minutes of the process. The separation of iron and vanadium from titanium in the initial leach is advantageous as it facilitates efficient extraction of titanium in a second leach or alternative extraction process. Results for the sulphuric acid system were also good with high extraction efficiencies for vanadium and iron; however, the sulphuric acid system did not provide as good of a separation of the titanium from the vanadium and iron compared to hydrochloric acid. The leach extractions in the nitric acid system were not as efficient as those achieved in the other two acid systems.

West Melville Metals Inc. Completes Purchase of the Isortoq Project in Greenland; Announces Resignation of Bruce Counts as Director

West Melville Metals Inc. announced that the vendors of the Isortoq Project have elected to waive the final $1.4 million payment due on the Isortoq Property and an amending deed to the purchase agreement to this affect has been executed. The ‘royalty agreement’ covering non-ferrous metals has also been cancelled. This secures the exclusive right to a 100% unencumbered interest in the Project for West Melville and Hunter will now file an application to the Greenland authorities to transfer title to the Isortoq Exploration Licenses over to West Melville. In view of this exciting development, the Board of Directors has unanimously decided to focus all of the company's resources on the Isortoq Project, and as a consequence it has elected not to exercise its option to purchase the Alex Project in Mexico. The option on the Fraser Bay Project is secure until December 2014 and efforts continue to find a suitable partner for the project. Mr. Bruce Counts has resigned as a director of West Melville in order to pursue other opportunities.

West Melville Metals Inc., Annual General Meeting, Aug 20, 2014

West Melville Metals Inc., Annual General Meeting, Aug 20, 2014., at 10:00 Pacific Standard Time. Location: 1020 - 800 West Pender Street. Agenda: To fix the number of directors at five; to elect directors of the Company for the ensuing year; to appoint KPMG LLP, Chartered Accountants, as auditor of the Company for the ensuing year and authorize the Directors to fix their remuneration; to approve and ratify the Company's stock option plan as more particularly described in the company's information circular; to confirm and approve the company's advance notice policy as more particularly; to described in the company's information circular; and to transact such further or other business as may properly come before the meeting and any adjournments thereof.

 

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