BriefingWire.com, 2/29/2020 - The purpose of the latest capital investment is for further development in Blanco Minerals’ large lithium mining site located in Jujuy Province, Argentina. The timing of this announcement will have a significant positive impact.
https://www.briefingwire.com/pr/blanco-minerals-receives-further-cash-boost
Saturday, February 29, 2020
Friday, February 14, 2020
IPO Date Approved for Blanco Minerals Inc. - Press Release
On November 4, 2019 Blanco Minerals Inc. announced its intentions to list the IPO by the end of January 2020. The company's board agreed in a meeting on December 18, 2019 to extend the time due to the USD $39 million cash investment from Tesla Inc. that was announced on December 20, 2019. The investment from Tesla Inc. has further increased the overall valuation of Blanco Minerals Inc. and therefore the company will undergo a new official valuation performed by PricewaterhouseCoopers of which the results are expected by early February 2020.
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https://www.briefingwire.com/pr/ipo-date-approved-for-blanco-minerals-inc
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https://www.briefingwire.com/pr/ipo-date-approved-for-blanco-minerals-inc
Further Rise In Company Valuation for Blanco Minerals
February 13, 2020 - Vancouver, B.C.: Blanco Minerals Inc. today announces that
the completion of a new audit on the company has resulted in a further increase
in the company's value.
The latest
company audited valuation managed by PricewaterhouseCoopers LLP commenced in
January 2020 following the commitment of a USD $39 investment into Blanco
Minerals by Tesla Inc. in December 2019. The completion of the company
valuation has given a result that shows the common shares of Blanco Minerals
Inc. has risen in audited value from USD $3.92 per share up to USD $5.15 per
share.
The new
valuation does not only take into account the USD $39 million investment from
Tesla Inc. that was announced in December 2019. Blanco Minerals Inc. can now
confirm that the company's project in Jujuy Province, Argentina has commenced
production that began at the beginning of January 2020. The Argentina project
was boosted by a USD $68.5 million investment from South Korean lithium-ion
battery manufacturers LG Chem that was received in September 2019.
The newly
completed valuation is the second in 3 months that resulted in significant increases
in company value. On November 20, 2019, Blanco Minerals Inc. announced that a
re-evaluation that had then been completed saw the common shares audited value
rise from USD $2.65 up to USD $3.92 per share. The latest increase in value to
USD $5.15 per share confirms a faster than previously forecasted growth rate.
Blanco
Minerals Inc. CEO, Peter Ross commented today, "The result of the latest
company valuation is more great news for our shareholders. All of those that
invest in the company realize that we are in a prime position to be in the
forefront to take advantage of the massively important future of the lithium
industry. As we get nearer to our IPO listing next month, we are more certain
than ever before that all our shareholders will be well rewarded for their
belief in us."
Peter Ross
continued by saying, "We sincerely thank our global partners and investors
for their loyal support to the organization. Extra special thanks go to Tesla
Inc. and LG Chem for their highly valued financial support that have lead to
our projects being much further ahead in development than was expected. The
Argentina project has advanced into production much faster than we ever
imagined because of the huge financial package from LG Chem. Tesla's cash
infusion will bring operations in Mexico into production by June, that would
never be achievable without their support.”
Further
announcements are forthcoming as the IPO listing of Blanco Minerals approaches
in March 2020.
About the Company:
Blanco Minerals Inc.
controls the Salar De Arena Rica Lithium Brine Project, located in the Atacama
Region of Northern Chile, in a joint venture partnership with SQM, The company
also maintains a large lithium brine project in Jujuy Province in northwest Argentina.
Furthermore, Blanco Minerals Inc. is developing the largest lithium project in
North America at Zacatecas State, Mexico.
For further information contact:
investors@blancominerals.com
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