Pursuant to the MOU, areas of cooperation between the Parties are as follows: 1.
Sinosteel MECC will share with DEFN its experience in the rare earths industry relating to beneficiation,
Wicheeda rare earth sample will total approximately 200kg and will be sent to Sinosteel MECC as soon as practicable and subject to obtaining any necessary government permits and approvals.
It is anticipated the testwork will take approximately 4.5 months and cost
After receiving the testwork results, both parties will assess and discuss how to design a concentrator suitable for Wicheeda feed material.
The proposed pilot plant will consist of both a beneficiation and hydrometallurgical process to produce bulk samples of rare earth concentrate, mixed rare earth carbonate, and high-purity rare earth oxides.
DEFN will assess the cost value assigned to the EPC contract and will inform Sinosteel MECC as the proposed pilot plant progresses.
DEFN will review if additional related infrastructure will be required for the pilot plant can be included in the EPC contract for Sinosteel MECC.
Sinosteel MECC, as the general contractor, will be responsible for the design, procurement of equipment, construction, installation, commissioning, training and other works of the pilot plant following general EPC terms.
It is envisioned the pilot plant will be fully constructed in modules in
Both parties agree to enter into discussions regarding Sinosteel MECC providing or sourcing EPC financing solutions for development the pilot plant such as: a. Flexible financing solutions supported by Sinosteel MECC but based on conditions to the satisfactory of Sinosteel MECC, and b. Assisting DEFN to find proper investors from
About the Wicheeda REE Property
The 1,708 hectare Wicheeda REE Property, located approximately 80 km northeast of the city of
Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern
About
About
About Sinosteel MECC
Sinosteel MECC is a subsidiary of
Cautionary Statement Regarding 'Forward-Looking' Information
This news release contains 'forward-looking information or statements' within the meaning of applicable securities laws, which may include, without limitation, statements relating to the MOU and the expected outcomes and developments that may arise, plans for the Wicheeda Property, completion of test-work by Sinosteel MECC, shipment of samples to Sinosteel MECC, completion of PEA, the advancement and development of the Wicheeda Property, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that governmental approvals will be obtained, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, governmental, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate increase in costs, failure to obtain equipment, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
Contact:
Tel: (778) 994 8072
Email: todd@blueskycorp.ca
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