(via TheNewswire)
“(…)
Terms of the Agreement
The Binding Term Sheet agreement gives Slam Exploration the option to earn 51% of the
Issuance of 500,000 common shares of Slam Exploration to St-Georges upon regulatory approval from the
Payment of
Payment of
Engage
Upon completion of the above to earn a 51% interest in and to the
If a JV is formed, the parties will jointly fund the project. If a party declines participation in duly planned work programs, then the declining party’s interest will revert to a 2% Net Smelter Return (“NSR”) royalty.
If a party reverts to a 2% NSR holding, the other party will pay that party a
If Slam Exploration purchases a 100% interest in and to the Notre-Dame project by making the 4thpayment referenced above, St-Georges will retain a NSR of 2%. SLAM Exploration will hold the right to buy back half of the NSR for
Finders’ fees of 300,000 shares of SLAM Exploration will be paid upon approval of this arm’s length agreement. The option agreement and proposed share issuances remain subject to approval by the
About Niobium
The most common legacy use for niobium is as an alloying element in steels and superalloys. The ability of the metal to withstand high temperatures makes its usage common in aerospace applications.Niobium is a top contender in the race to find a replacement for cobalt in electric vehicle (EV) batteries and, when used in battery manufacturing, brings its own advantages: Enhanced Stability and Capacity:when used as an additive or coating, niobium can help stabilize the cathode material in lithium-ion batteries. This can potentially lead to longer cycle life and enhanced safety. For instance, adding niobium oxide to lithium iron phosphate (LFP) cathodes improves their conductivity and overall performance. High-Voltage Cathodes:niobium can be utilized in high-voltage cathode materials, which is beneficial for EV applications. By increasing the operating voltage, the energy density of the battery can be improved, leading to longer driving ranges. Cost:while niobium isn’t as abundant as some other elements and still fetches relatively high median pricing, it is more readily available and has fewer associated ethical concerns compared to cobalt. This could potentially lead to cost savings and a more resilient supply chain for EV battery production.Safety Improvements:some studies have indicated that the incorporation of niobium can improve the thermal stability of cathode materials. Better thermal stability can reduce the risk of thermal runaway, a leading cause of lithium-ion battery fires. While ferro-niobium fetches prices between US
ON BEHALF OF THE BOARD OF DIRECTORS
‘Neha Tally’
Corporate Secretary
1.About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full-circle battery recycling. The Company explores for nickel & PGEs on the Manicouagan and Julie Projects on Quebec’s
Visit the Company website atwww.stgeorgesecomining.com
For all other inquiries:public@stgeorgesecomining.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Copyright (c) 2023 TheNewswire - All rights reserved.
Copyright (c) 2023 TheNewswire - All rights reserved., source