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FMR heading back over 10cents



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By dquinton

Posted: Tuesday Jun 21 9:22:02AM 2016

Here's some interesting news after a little digging around.

RB Energy’s Quebec Lithium Mine (Formerly Canada Lithium) is poised to be sold to Jilin Jien Nickel of China. On Tuesday June 21 at 9am the judge is to render his decision on approval of this asset purchase out of receivership. 

As of June 13, 2016, the receivers KSV Kofman have recommended that a subsidiary of Jilin Jien Nickel Industry Co., Ltd. be allowed to purchase the RB Energy project. According to the report below a $2 million deposit has been paid and the deal is expected to be closed by August 15, 2016.

http://www.ksvadvisory.com/assets/Uploads/insolvency-case-documents/RB%20Energy%20Inc.%2C%20Quebec%20Lithium%20Inc.%2C%20QLI%20Metaux%20Inc.%2C%20and%20Sirocco%20Mining%20Inc.%20/Receivership%20Proceedings/Reports/05_RB%20-%201st%20Report%20of%20the%20Receiver%20-%20Final.pdf

 

The Transaction was formally approved through a Decree of the Government of Quebec issued on May 25, 2016

 

The estimated total cost of this transaction, including mill upgrades, is $350 million.

 

Fairmont Resources controls properties on the north and south boundary of the Quebec Lithium Mine.  Not sure how much of a bump we could get if everything goes through but this could become a very interesting area play not that we have a major player in the direct vicinity.


By Stockzilla

Posted: Wednesday Jun 1 11:37:06AM 2016

boom! on the Move! i love being right! this is just the start.

lithium deal announced and thats just a little bonus on what they are working on in Grabasa

cheers


By Stockzilla

Posted: Thursday May 26 8:19:12AM 2016

good volume this morning. things picking up again. this went north of 10cents a month ago.. it's picking up again

market might be clueing in to the fact that this could be worth north of a buck when the acquisition is completed


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