Monday 3rd August 2020

Resource Clips

Prima’s TSX Venture debut

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He adds the company has excellent relations with the Kaska first nation.

With prospects of a relatively low-capex, near-surface high-grade project, Prima could find itself courted by some deep-pocketed suitors, says Bick. Fluorspar consumers include giants like Alcoa, BASF, Bayer, Dow, DuPont, Honeywell and Rio Tinto Alcan. The French chemical company Arkema Resources, for example, joint-ventured with Canada Fluorspar TSXV:CFI with plans to re-open Newfoundland’s St. Lawrence fluorspar mine. That’s especially encouraging at a time when other commodities face financing challenges.

Geologist Neil McCallum conducting fieldwork at Prima’s Liard fluorspar project

Geologist Neil McCallum conducting fieldwork
at Prima’s Liard fluorspar project.

“Definitely, there’s a lot of co-operation between chemical companies and the fluorspar companies,” Bick says. “Chemical companies absolutely need what we do and there have been companies in Europe in the past, for example Bayer, who actually did their own fluorspar mining. But chemical companies have no idea what exploration is all about. We’ve met with companies, we’ve talked with them, they know that we’re here. But they come in at a later stage. They don’t have the tolerance or the expertise to really get involved in exploration.”

Bick is perhaps best known for his leadership of Evolving Gold, which he took from a $3-million market cap through fundings of $3 million, $5 million and $21 million, securely financing the company while others faced the 2008 crisis. With its TSXV entry and gold discoveries in Wyoming and Nevada, he moved Evolving “from a company that was one out of a thousand to one out of 20,” he says. “People knew about Evolving Gold.”

In addition to McCallum and the Dahrouge geological team, Prima’s staff includes CFO Andrew Davidson and directors Sean Charland and Dean Nawata. Davidson and Nawata also serve as CFO and business development officer respectively with 49 North Resources TSXV:FNR, an investment company that’s “a sophisticated operation with a wide range of contacts,” says Bick. “It’s a comfort to have 49 North invested in Prima.”

Charland is also a director of Zimtu Capital TSXV:ZC, a company that actively builds its smaller-cap holdings like Prima. “Zimtu has several companies working in the same office,” says Bick. “We share resources in terms of accounting, reception and office management, and we do a lot of co-marketing. Zimtu also has a wide network of financial bodies that they’ve been working with over the years. It would be much more difficult for a new company to build that network from scratch.”

Zimtu is also “very much involved in industrial minerals like tantalum, dysprosium and graphite. They understand industrial minerals and niche markets.”

All that helps explain Prima’s success at this of all times. “It shows we understand that we have to do quality work on the project but also work with the market all the time—with financial bodies, brokers and shareholders,” Bick emphasizes.

“We got the funding to do our RTO, get listed and continue work. It’s a high-grade, near-surface project with a critical commodity in a safe jurisdiction. I see good times ahead.”

Disclaimer: Prima Fluorspar Corp and Zimtu Capital Corp are clients of OnPage Media and the principals of OnPage Media may hold shares in those companies.

Read more about fluorspar here and here.

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