3 May 2024asset acquisition disposition▲ GoodMajor
Patriot agreed to buy 100% of the JBN-57 claim block (39 claims, 1,995 ha) from Azimut, on trend with Corvette, for C$500,000 cash, 150,000 shares and a 2% royalty. Subject to TSX approval.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 May 2024drilling result▲ GoodMajor
First 2024 CV5 infill assays (34 holes) include 126.3 m at 1.66% Li2O and 70.1 m at 2.44% (incl. 16.1 m at 5.02%). Hole 374 was wider than the 2023 resource model predicted. 132 holes still unreported.
22 Apr 2024drilling result▲ GoodMajor
Final 2023 CV5 assays include 133.9 m at 1.21% Li2O and 50.5 m at 1.42%. CV5 now traced 4.6 km (was 4.4 km), open. Winter 2024 program finished at 62,518 m; resource update still Q3 2024.
18 Apr 2024investor presentation● Neutral
April 2024 company presentation, mostly legal disclaimers. No new results or figures visible in the text provided; appears to repeat previously announced information.
17 Apr 2024regulatory community update▲ GoodMajor
Quebec's environment ministry issued guidelines for Corvette's environmental impact study, which the company says were as expected. Full study submission is expected late 2025. This resolves the pending guidelines step from the permitting process.
8 Apr 2024drilling result▲ GoodMajor
Final 2023 assays for CV13 and CV9. CV13's best hole yet: 28.7 m at 1.49% Li2O (incl. 20.4 m at 2.03%), a new shallow zone. CV9's maiden drilling hit 99.9 m at 0.39%. 42 CV5 holes remain; Q3 2024 resource update unchanged.
4 Apr 2024other● Neutral
Monthly CDI statement for March 2024. Quoted CDIs rose from 575.7m to 586.2m, mainly via transfers. Exercises of 720,000 C$0.50 warrants and 330,000 C$0.75 warrants are noted. Administrative; no operational news.
26 Mar 2024investor presentation● Neutral
Presentation at the Future Facing Commodities Conference 2024, mostly legal disclaimers. No new results or figures visible in the text provided; appears to repeat previously announced information.
25 Mar 2024drilling result▲ GoodMajor
2023 surface work found a new spodumene pegmatite outcrop, CV14, with grab samples of 0.94% and 0.86% Li2O, extending the CV9-CV10-CV14 trend to ~3.6 km. Boulders south of CV5 and CV13 channel results (best 5.4 m at 1.93%) add to the picture.
12 Mar 2024investor presentation● Neutral
Presentation at the Euroz Hartleys Rottnest Island Institutional Investor Conference, mostly legal disclaimers. No new results or figures visible in the text provided; appears to repeat previously announced information.
11 Mar 2024auditor change● Neutral
Auditor changed from Manning Elliott LLP to PricewaterhouseCoopers from 26 Feb 2024, at the company's request, until the next AGM. No modified opinions or reportable events with the former auditor.
4 Mar 2024other● Neutral
Monthly CDI statement for February 2024. Quoted CDIs rose from 562.3m to 575.7m, mainly via transfers from the TSX. Several options were exercised, and 5.4m C$0.75 warrants and other listed securities show as outstanding at month-end. Administrative.
1 Mar 2024other▲ Good
S&P Dow Jones index rebalance notice. Patriot (PMT) is listed as an addition to the All Ordinaries from 18 March 2024. Index inclusion only; no change to the company's operations or finances.
26 Feb 2024drilling result▲ Good
More CV13 assays from 15 2023 holes, best 22.5 m at 1.10% Li2O (incl. 15.2 m at 1.57%). CV13 stays at 2.3 km; CV5-CV13 gap traced to ~3 km. About 23,000 m drilled in 2024 with ten rigs. Updated resource still Q3 2024.
26 Feb 2024investor presentation● Neutral
Presentation at the BMO Global Metals, Mining and Critical Minerals Conference, mostly legal disclaimers. No new results or figures visible in the text provided; appears to repeat previously announced Corvette information.
15 Feb 2024half year report● Neutral
Unaudited December 2023 quarter statements: cash C$105.8m (C$133.5m at 30 Sep 2023), total assets C$230.5m, equity C$197.8m. Nine-month net income C$1.9m, driven by C$18.0m flow-through premium income, despite C$12.7m of expenses. Routine financial filing.
14 Feb 2024admin correction● Neutral
Patriot removed Article 15 (alternate directors) from its articles because it conflicts with TSX rules, following the TSX move. Board adopted it without shareholder vote, as shareholder rights are unaffected. Administrative.
13 Feb 2024investor presentation● Neutral
Company presentation at Bell Potter Unearthed 2024, mostly legal disclaimers and previously announced Corvette information. No new results or figures visible in the text provided.
7 Feb 2024drilling result▲ Good
CV5 traced over 4.4 km. West extension holes outside the resource returned 34.2 m at 1.06% Li2O; infill hole CV23-246 hit 89.5 m at 1.01% and 11.6 m at 3.25%. Eastern near-surface holes found only minor pegmatite. 42 CV5 holes still unreported.
6 Feb 2024other● Neutral
Monthly CDI statement for January 2024. Quoted CDIs rose from 504.0m to 562.3m, mainly through transfers, with the TSX move noted. All warrants and options listed show nil at month-end. Administrative; no operational news.
1 Feb 2024listing compliance notice▲ Good
Patriot's shares moved from the TSX Venture Exchange to the Toronto Stock Exchange from 1 February 2024, still under PMET; no shareholder action needed. Company says it seeks more institutional capital and liquidity. ASX listing is unaffected.
1 Feb 2024drilling result▲ Good
Assays for 22 CV13 holes from 2023: best 26.1 m at 1.21% Li2O. The high-grade zone now extends over 200 m and CV13 is traced to 2.3 km (was ~1.1 km). Results still due for 35 CV13, 54 CV5 and 18 CV9 holes.
25 Jan 2024director officer appointment● NeutralMajor
Chair Ken Brinsden becomes CEO/President/Managing Director based in Montreal; Pierre Boivin becomes Chair; Blair Way moves from CEO to COO, staying on the board. Stated aim is a stronger Quebec leadership presence. Director options (1,348,016) and DSUs (20,085) need shareholder approval.
17 Jan 2024drilling scheduled▲ GoodMajor
The 2024 winter drilling began at Corvette, planned to reach ten rigs and at least 45,000 m through April, mainly infill drilling to lift CV5 resource confidence from inferred to indicated. Updated resource now due Q3 2024 (earlier guidance was mid-2024).
5 Jan 2024other● Neutral
Monthly CDI statement for December 2023. Quoted CDIs rose from 457.5m to 504.0m, mainly through transfers; PMTAP warrants (8.65m) were exercised and, per the table, option exercises also occurred. Administrative; no operational news.
18 Dec 2023drilling result▲ Good
Step-out holes at CV5 and CV13 returned more lithium results from the summer-fall program, best 56.6 m at 1.37% Li2O at CV5; 27 holes reported, over 125 still awaiting assays. Company will now only announce intercepts alongside assays.
4 Dec 2023other● Neutral
Monthly CDI statement for November 2023. Quoted CDIs rose from 393.0m to 457.5m, mainly through transfers; warrant and option exercises included PMTAP (3.1m) and PMTAL (2.16m). Administrative; no operational news.
30 Nov 2023regulatory community update▲ GoodMajor
Patriot filed its Preliminary Information Statement with the Quebec government, starting the provincial approvals process for Corvette as an open-pit spodumene mine. The federal Project Description is ready but held pending clarity after a Supreme Court of Canada ruling on the Impact Assessment Act.
28 Nov 2023investor presentation● Neutral
Company presentation at the Macquarie Western Australia Forum, November 2023. Mostly legal disclaimers and previously announced Corvette information; no new results or figures visible in the text provided.
23 Nov 2023admin correction● Neutral
The 22 November CV9 announcement was reissued with a table of estimated spodumene content (0.1–5% for the key intervals) and cautionary wording. The findings are unchanged. Assays for CV9 are expected in late Q1 2024.