St-Ge­orges, Iconic sign tech­nol­ogy li­cens­ing agree­ment

Stockwatch Daily - - MINES & METALS - Mr. Frank Dumas re­ports

ST-GE­ORGES PLAT­INUM and Base Met­als Ltd. and Iconic Min­er­als Ltd. have en­tered into a de­fin­i­tive exclusive tech­nol­ogy li­cens­ing agree­ment for all sites to be op­er­ated by Iconic and/or its af­fil­i­ates in the state of Ne­vada.

In re­turn for a per­pet­ual li­cence for the tech­nolo­gies and its fu­ture im­prove­ments, Iconic will pay to St-Ge­orges:

• In­vest by way of pri­vate place­ment $100,000 in St-Ge­orges eq­uity within six months.

• Is­sue a to­tal of five mil­lion com­mon shares of Iconic to be re­leased in stages based on bench­marks reached. The per­for­mance sched­ule out­lin­ing the stages of each de­vel­op­ment phase where shares will be is­sued ac­cord­ing to the sched­ule:

• Two mil­lion shares at stage 1 bench­mark com­ple­tion: which is de­fined by the de­liv­ery of a vi­able lithium-re­cov­ery pos­i­tive in­de­pen­dent lab­o­ra­tory cur­rently com­mis­sioned to by St-Ge­orges;

• 1.5 mil­lion shares at stage 2 bench­mark com­ple­tion: which is de­fined by an in­de­pen­dent re­port de­scrib­ing re­sults of ini­tial pilot-min­ing op­er­a­tions and the pro­cess­ing of a min­i­mum of one met­ric ton in a sim­u­lated in­dus­trial en­vi­ron­ment; and

• 1.5 mil­lion shares at stage 3 bench­mark com­ple­tion: which is de­fined by the re­cep­tion of a pre­lim­i­nary eco­nom­i­cal as­sess­ment re­port (PEA) or at com­mer­cial­iza­tion de­ci­sion or the third an­niver­sary mark of this agree­ment as­sum­ing other is­suances have all been done;

• The shares St-Ge­orges earns in each stage will be es­crowed for a pe­riod of 36 months.

• A per­pet­ual net rev­enue in­ter­est roy­alty of 5 per cent on all min­er­als pro­duced on sites li­censed with SX tech­nolo­gies.

SX lithium re­cov­ery for clays and hard rock tech­nol­ogy

SX tech­nol­ogy pro­cesses lithium-bear­ing ma­te­rial in three phases:

1. It con­cen­trates the lithium-bear­ing ma­te­rial.

2. It con­verts the lithium to a salt and pu­ri­fies it through lithium se­lec­tion. The process in­volves gasi­fi­ca­tion to ac­ti­vate the lithium and se­lec­tively re­mov­ing the lithium salt from the other el­e­ments with the use of a pro­pri­etary tech­nique, which will be kept con­fi­den­tial at this stage.

3. It in­volves pu­rifi­ca­tion and di­rect pro­duc­tion of lithium car­bon­ate or lithium hy­drox­ide and can be linked to a lithium metal pro­duc­tion.

“The on­go­ing ef­forts to de­velop an in situ met­als re­cov­ery tech­nol­ogy for geo­ther­mal-clay-re­lated sources in Ice­land have al­lowed the com­pany to ex­plore other po­ten­tial ap­pli­ca­tions like the one brought to us by Iconic on their Bon­nie Claire project in Ne­vada. We are ex­cited to test other po­ten­tial ap­pli­ca­tions that in­clude but is not lim­ited to our other hard-rock lithium projects in Que­bec,” com­mented En­rico Di Ce­sare, St-Ge­orges di­rec­tor and re­search and de­vel­op­ment vice-pres­i­dent.

“The man­age­ment re­lies on its col­lec­tive ex­pe­ri­ence at devel­op­ing tech­nol­ogy ini­tia­tives and is try­ing to bal­ance trans­parency dis­clo­sure of its progress with the need to pro­tect the in­tel­lec­tual prop­erty be­ing gen­er­ated. We be­lieve that the only way to dis­close our re­sults is to put them in the con­text of their eco­nomic vi­a­bil­ity. This will call for a higher level of in­de­pen­dent re­view and ex­plain or re­strain in di­vulging re­cu­per­a­tion rates that mean noth­ing on their own. The more than 98 per cent lithium re­cov­ery rate ex­pe­ri­enced on Bon­nie Claire means noth­ing on its own if there is no scal­able eco­nomic method at­tached to it,” com­mented Frank Dumas, St-Ge­orges’s chief ex­ec­u­tive of­fi­cer and pres­i­dent.

About St-Ge­orges Plat­inum and Base Met­als Ltd.

St-Ge­orges is devel­op­ing new tech­nolo­gies to solve the big­gest en­vi­ron­men­tal prob­lems in the min­ing in­dus­try.

The com­pany con­trols, directly or in­di­rectly, all of the ac­tive min­eral tenures in Ice­land. It also ex­plores for nickel on the Julie nickel project, for in­dus­trial min­er­als on Que­bec’s North Shore, and for lithium and rare met­als in North­ern Que­bec and in the Abitibi area.

Mark An­thony Billings, En­rico Di Ce­sare, Herbert Duerr, Fran­cois Dumas, Gary John­son, Wei-Tek Tsai, Vil­h­jal­mur Thor Vil­h­jalms­son

(SX) Shares: 63,320,415

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