Benzinga - by austin@walkonholdings.com, .
BHP’s Settlement
- Vale (NYSE:VALE), BHP Group (NYSE:BHP) and their joint venture Samarco have offered Brazilian authorities a $24.88 billion settlement proposal for the 2015 Mariana dam disaster.
- The settlement includes $24.88 billion in total payments; $7.29 billion was already disbursed. The plan includes $14.08 billion for governments and $3.52 billion for future obligations, aiming for a final agreement by mid-2024.
- This follows an initial 2016 agreement that established a foundation for reparations.
5E Achieves Milestone, CEO Says
- 5E Advanced Materials (NASDAQ:FEAM) announced the first production of boric acid at its 5E Boron Americas Complex and amended its senior secured convertible notes to extend a waiver on the cash covenant.
- CEO Susan Brennan says the achievement established a U.S.-based boron supply chain. The company will now begin customer qualification for its boric acid product and anticipates scaling up deliveries upon successful validation.
- The financial waiver on the notes is extended until Dec. 31, 2024. Afterward, the company must maintain a cash balance of at least $7.5 million.
- GoldMining (NYSE:GLDG) reduced a burdensome royalty on its Crucero gold project in Peru from a maximum 5% to 3%, with the option to reduce it further to 1% for an additional $200,000 within ten years.
- The original royalty was established with gold prices above $800 per ounce.
- This strategic move initially cost $70,000 and aims to enhance the project's value and support the company's broader strategy in the Americas.
- U.S. Gold (NASDAQ:USAU) announced the outcomes of its annual shareholder meeting where shareholders approved the election of five directors.
- The shareholders also ratified Marcum, LLP as the independent accountant for the fiscal year ending Tuesday, April 30.
- Chairman Luke Norman expressed gratitude to shareholders and highlighted the company’s focus on advancing its CK Gold Project in Wyoming and exploration projects in Nevada and Idaho.
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