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Nord Precious Metals to Use Underground Mines Dewatering to Reprocess Tailings

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Nord Precious Metals Mining (NTH.V) said Tuesday that the water needed for reprocessing tailings from its Gowganda leases is to be drawn from underground mines, after a site visit by the Ministry of Mines in Ontario last week.

The company, which is building an initial recovery operation for Gowganda, noted underground mine dewatering requires a Permit to Take Water (PTTW) and Environmental Compliance Approval (ECAs) for the effluent treatment of tailing process water. Nord is providing project and operating details and coordinating it with its application for a recovery permit.

"We are driving Gowganda toward silver production and building for the opportunity beyond this first recovery project," said Frank Basa, chief executive officer of Nord. "We now have the consolidated ground, an updated tailings silver inventory and engineering work advancing together."

Nord shares were last seen down CA$0.005 at CA$0.16 on the TSX Venture Exchange.

Price: $0.16, Change: $-0.01, Percent Change: -3.03%

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Mark Carney's Government Introduces Bill C-39 to Speed Up Major Projects

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Elemental Royalty to Buy Orion Precious Metals Portfolio for $290 Million; CEO Resigns

Elemental Royalty (ELE.TO, ELE), up 1.2% in after-hours US trading, said Monday it entered into agreements to acquire a portfolio of five precious metals streams and royalties from funds managed by Orion Mine Finance Management for $290 million.The purchase price includes $200 million in cash and $90 million in equity, the company said.Separately, the company entered into a non-binding agreement with Carlin East to sell its Generation Business, which includes wholly owned exploration projects.Under the proposed transaction, Carlin East would also assume management and shared ownership of Elemental's option agreements and certain early-stage exploration royalties associated with the Generation Business.In return, Elemental would receive a cornerstone equity stake in Carlin East.Elemental also said chief executive David Cole resigned effective immediately to take a leadership role at Carlin East.Frederick Bell, currently Elemental's chief operating officer, was appointed chief executive officer and director.ELE's shares were up $0.27 to $21.99 at last look in after-hours US trading after closing up CA$0.66 to CA$30.45 on Toronto Stock Exchange

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