Allied Copper Corporation | November 25, 2022
Allied Copper Corp. is pleased to announce additional technical information and financial information regarding Volt Lithium Corp. As announced on October 31, 2022, Allied Copper has agreed to acquire 100% of the issued and outstanding shares of privately-held Volt, pursuant to a share purchase agreement dated October 31, 2022, among each of the shareholders of Volt. Through this Acquisition, Allied Copper is afforded a strategic opportunity to expand both its asset base and development focus to include a broader range of battery metals that represent key inputs supporting the global energy transition.
Rainbow Lake Property
Volt has acquired a 100% minerals interest in a lithium-brine project in northwest Alberta which is defined by nineteen contiguous Alberta Metallic and Industrial Mineral Permits. Details of the mineral permits are summarized in Schedule B of the Agreement, which has been filed on SEDAR at www.sedar.com. The Rainbow Lake Property is in northwest Alberta, approximately 80 kilometres west of the Town of High Level, Alberta. The west-central portion of the Property surrounds the Town of Rainbow Lake, Alberta, which region is historically famous for its substantial oil and gas reserves within the carbonate platform and reef complex portions of the Middle Devonian Elk Point Group. The Property can be accessed by Provincial Highway 58, and numerous secondary all weather and dry weather gravel roads and tracks that are serviced year-round due to oil and gas production operations in the area.
Upper Keg River Formation Aquifer Brine Evaluation
Volt’s initial exploration objective at the Rainbow Lake Property was to assess stratigraphically deep hypersaline formation water, or brine, from oil and gas reservoirs, or aquifers, within the porous portions of the Elk Point Group’s Upper Keg River Formations reef complexes for its lithium-brine potential.
As per Government of Alberta subsurface brine compilations, historical Upper Keg River Formation lithium-brine analytical results within the boundaries of the Rainbow Lake Property include nine historical lithium assays of Upper Keg River Formation and Elk Point Group brines (the latter at depths that are correlative with the Upper Keg River Formation). The assays yield lithium-brine values that range between 29 and 44 milligrams per litre (“mg/L”) lithium with an average concentration of 38.3 mg/L lithium.
To validate the historical lithium-brine assays, Volt commissioned a petro-company leasehold owner and active hydrocarbon producer from within a portion of the Property and Mr. Roy Eccles P. Geol. of APEX Geoscience Ltd. to complete two separate 2022 brine sampling programs at the Rainbow Lake Property. The Petro-Company collected two brine samples from two separate wells; one of which was not within the boundaries of the Property. The samples were analyzed by Sterling Chemical Inc.’s subsidiary lab, Camber Resource Services Ltd., who is not independent of Volt.
The QP collected 25 brine samples from three oil and gas facilities and four producing wells within the Rainbow Lake Property in conjunction with the Petro-Company that is actively producing hydrocarbons from Upper Keg River Formation reservoirs. Quality assessment-quality control samples included four duplicate samples, seven brine lab-prepared lithium-brine standards, two blank samples (containing no lithium), and two check lab samples. The QP brine samples were analyzed at independent, commercial laboratories who are accredited and experienced in analysing petro-fluids.
The QP assessed both the Petro-Company and QP-collected sample analyses, and concluded that the analytical results yield both ‘valid’ and ‘invalid’ Upper Keg River Formation brine geochemical results. The Petro-Company collected samples were removed because the samples were either from an off-property well or analyzed at a non-independent lab that returned lithium results that did not correlate well with the analytical results of the QP-collected samples. Four QP-collected sample analyses were also removed from the dataset because of suspected issues with contamination or the brine geochemical results were not compatible with representative Upper Keg River Formation aquifer brine. The contamination relates to high oil contents in the brine sample, or elevated iron and metal contents believed to be related to corrosiveness inhibitors used by the Petro-Company at a specific well that may have precipitated metals that are not representative of the true brine. With respect to the assessment of representative brine genuine Upper Keg River Formation samples in this dataset contain between 72,200 and 156,000 mg/L sodium; however, the QP-assessed invalid samples had very low sodium.
Once the invalid brine analyses were removed from the database (n=6 analyses), the QP had no further significant issues or inconsistencies that would cause one to question the validity of the data. Brine analytical results are presented in Table 1 and include lithium-brine values from the three facilities and two wells.
With respect to the QP-collected valid Upper Keg River Formation aquifer brine samples, brine from the wells yielded between 29.3 and 36.1 mg/L lithium with an average concentration of 33.0 mg/L lithium. Brine from the facilities yielded between 24.5 and 37.3 mg/L lithium with an average concentration of 33.6 mg/L lithium. Collectively, the brine analyses from Volt’s primary lab yielded between 30.6 mg/L and 37.3 mg/L lithium with an average concentration of 35.0 mg/L lithium.
The QP concluded that the Volt sampling program validated the historical lithium-brine analytical results: 38.3 mg/L lithium versus 35.0 mg/L lithium. The similar lithium concentrations potentially demonstrates the chemical homogeneity of the Upper Keg River Formation aquifer underlying the Rainbow Lake Property. The sample program results also show that Volt could utilize the facilities for any future demonstration, or pilot direct lithium extraction test work, which is beneficial because the facilities represent multi-well collection points with high brine volume.
Based on the results of the Rainbow Lake Property brine sampling program, Volt has commissioned APEX Geoscience Ltd. to prepare a technical report that will provide a geological introduction and exploration results of the Upper Keg River Formation aquifer brine assessment and include recommendations to advance the lithium-brine project. The technical report will be prepared in accordance with the Canadian Mining and Metallurgy Mineral Exploration Best Practice Guidelines (2018) and the disclosure requirements set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Pipestone Energy Corp. | November 24, 2022
Pipestone Energy Corp. is pleased to announce the Toronto Stock Exchange has accepted the notice filed by the Company to renew its normal course issuer bid. Pipestone’s inaugural NCIB was launched in November 2021 and has been fully executed with the purchase and cancellation of 9,598,347 common shares of the Company for an average price of $4.44 per share.
The NCIB allows Pipestone to purchase up to 13,936,907 Common Shares, representing 5% of its 278,738,148 outstanding Common Shares as at November 14, 2022. The renewed NCIB is scheduled to commence on November 25, 2022 and is due to expire no later than November 24, 2023. Under the NCIB, Common Shares may be repurchased in open market transactions on the TSX and other alternative trading platforms in Canada and in accordance with the rules of the TSX governing NCIB’s.
The total number of Common Shares Pipestone is permitted to purchase is subject to a daily purchase limit of 156,214 Common Shares, representing 25% of the average trading volume of 624,856 Common Shares on the TSX calculated for the six-month period ended October 31, 2022 excluding 5,107,800 Common Shares that the Company repurchased pursuant to its previous NCIB during this period; however, Pipestone may make one block purchase per calendar week which exceeds the daily repurchase restrictions. Any Common Shares that are purchased under the NCIB will be cancelled upon their purchase by the Company.
The Company intends to enter into an automatic securities purchase plan effective November 25, 2022, under which its broker may purchase Common Shares in connection with the NCIB. The plan will contain a prearranged set of criteria in accordance with which its broker may make Common Share purchases. These strict parameters enable the purchase of Common Shares during times when it would ordinarily not be permitted due to self-imposed blackout periods, insider trading rules or otherwise. Such plan is adopted in accordance with applicable Canadian securities laws. Outside of blackout periods, Common Shares may be purchased under the NCIB in accordance with management’s discretion.
As previously announced, Pipestone is committed to a multi-faceted approach to shareholder returns as part of its allocation of free cash flow strategy. In addition to the renewal of the NCIB, Pipestone has implemented a quarterly base dividend of $0.030 per Common Share, commencing in Q1 2023. The Company also has previously announced its intention to launch a Substantial Issuer Bid for up to $50 million in Q1 2023.
Pipestone Energy Corp.
Pipestone is an oil and gas exploration and production company focused on moderately growing its condensate-rich Montney asset base, while delivering meaningful shareholder returns. Pipestone expects to grow its production to 32 Mboe/d (midpoint) in 2022 and to approximately 45 Mboe/d by exit 2025, while generating significant free cash flow. Pipestone is committed to building long term value for our shareholders while maintaining the highest possible environmental and operating standards, as well as being an active and contributing member to the communities in which it operates. Pipestone has achieved certification of all its production from its Montney asset under the Equitable Origin EO100TM Standard for Responsible Energy Development.
Chevron | November 18, 2022
Chevron U.S.A. Inc., a subsidiary of Chevron Corporation announced it signed a definitive agreement to acquire full ownership of Beyond6, LLC and its network of 55 compressed natural gas stations across the United States from Chevron’s current B6 co-owners, a subsidiary of Mercuria Energy Trading and B6 CEO Andrew West.
Chevron is complementing the strength of its traditional products business with new offerings that help customers support a lower carbon future, and renewable natural gas is an essential part of its portfolio of solutions. Through collaborations with Brightmark LLC and California Bioenergy LLC, Chevron is developing projects across the United States designed to convert fugitive methane emissions from dairies to a beneficial use as renewable natural gas, which can be considered carbon negative on a lifecycle basis under California’s Low Carbon Fuel Standard. With this acquisition, Chevron can market the RNG it either produces or procures through a nationwide network of CNG locations.
"Chevron has seen strong demand for our RNG-to-CNG fuel offering from new and existing customers. Because of its carbon negative attribute and the ability of fleet operators to efficiently adapt vehicles to run on CNG, renewable natural gas can be a lower carbon solution for fleets seeking to reduce their lifecycle greenhouse gas emissions."
Andy Walz, Chevron's president of Americas Products
Mercuria and Chevron will enter into a long-term supply relationship to deliver renewable natural gas to Chevron as part of the transaction.
"B6 represents a best-in-class operator in the build-out of a renewable natural gas network, and Mercuria has been excited to help the company grow from a stand-alone business to one that can help drive growth under Chevron," said Brian A. Falik, Mercuria's chief investment officer. "The partnership with Chevron has been a great success, and we look forward to helping them supply renewable fueling solutions to their customers."
Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines.
Founded in 2004, Mercuria is one of the largest independent energy and commodity groups in the world. As an integrated group, Mercuria is present all along the commodity value chain with activities forming a balanced combination of trading flows, strategic assets and structuring solutions. With more than USD 100 billion in turnover, Mercuria has become one of the most active players in the energy and renewables markets. Over the next five years, the company will direct half of its investment towards the energy transition.
JIOS Aerogel | November 17, 2022
JIOS Aerogel, a leading innovator in critical components for electric-vehicle batteries, has unveiled a plan to commission a state-of-the-art factory in Singapore to produce cutting-edge technology for battery manufacturers. The facility will use a breakthrough, automated production process that was developed with the support of the Singapore Economic Development Board.
The first manufacturing equipment will be delivered to the factory in December 2022, with output from the company's Pilot Line commencing in Q1 2023. JIOS' fully automated line will be running at total capacity in Q4 2023, producing the company's range of Thermal Blade™ products that mitigate the risk of thermal runaway in the batteries of electric vehicles.
The commissioning of the JIOS Aerogel facility is supported by the EDB, a government agency under the Ministry or Trade and Industry of Singapore. EDB is responsible for strategies that enhance Singapore's position as a global centre for business, innovation and talent.
JIOS investment is in response to substantial increases in demand for its products, with automakers estimated to spend $1.2 trillion in the next 8 years on EVs, batteries, and materials. This investment to manufacture aerogel-based materials leverages multiple innovations in products and processes developed by researchers at the JIOS Innovation Centre in Singapore.
JTC: Singapore's sustainable innovation factory
The JIOS Aerogel factory will be located at the JTC Chemicals Hub, Singapore's first high-rise, multi-tenanted development designed to house companies involved in the manufacturing, blending, and of distributing chemicals. JTC is the government agency championing sustainable industrial development in Singapore.
JTC's plug-and-play solutions allow JIOS to reduce its upfront capital costs and shorten set-up time while simultaneously maintaining low overhead costs. The Chemicals Hub comes with a suite of safety-compliant features such as enhanced fire protection systems shared facilities like fire-water retention tanks and a centralized foam system.
Scaling global supply of chemicals and materials for electric vehicles
The rapid growth in electric vehicles is driving substantial opportunities for chemical and materials manufacturers, with a potential value pool of more than $20 billion by 2030, excluding battery cell chemistry.
"Establishing our manufacturing facility is the next step in our investment program, as we commercialize our product innovation and development supported by the Singapore Economic Development Board. The factory's location at JTC was chosen to support the rapid industrialization of our products, to achieve the scale and competitive cost position required by global automakers."
Andrew Stearns, CEO at JIOS Aerogel
About JIOS Aerogel
JIOS Aerogel is the world's leading manufacturer of silica aerogel powder. Founded in 2013 to pioneer a new process that dramatically lowers the cost of aerogel production, the company has progressed rapidly to prove the scalability of its technology. Since 2019 the company's joint-venture operation with a global insulation company has used its patent-protected manufacturing process to produce insulation for the industrial, oil & gas markets.
JIOS Aerogel's technology portfolio includes solutions that mitigate thermal runaway in lithium-ion batteries. These solutions address one of the key challenges in electrification, supporting the rapidly expanding markets for electric vehicles (EVs) and Energy Storage Systems. JIOS Aerogel is headquartered in Singapore and is backed by investors that include a Fortune 500®, global manufacturer.