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I-Minerals Inc. Negotiates Repayment of Outstanding Indebtedness
Vancouver, British Columbia (Newsfile Corp. - March 12, 2021) -
I-Minerals Inc. (TSXV: IMA) (OTC Pink: IMAHF) announces that the repayment date for loans from a company controlled by its Chairman, Allen Ball amounting to approximately $31,829,474, together with all accrued and unpaid interest thereon, has been extended until April 15, 2020.
About I-Minerals Inc.
I-Minerals is an exploration and development company that is advancing the Bovill kaolin-halloysite property in north central Idaho. A March 2020 Pre-feasibility Study on the Bovill Property envisaging annual production of 20,000 tons of kaolin and 10,000 tons of halloysite estimated initial CAPEX at US$48 million with a 20% pre-tax, 18% after tax IRR and a US$ 48 million pre-tax, US$34 million after tax NPV10%.
Earth hasn’t always been a blue and green oasis of life in an otherwise inhospitable solar system. During our planet’s first 50 million years, around 4.5 billion years ago, its surface was a hellscape of magma oceans, bubbling and belching with heat from Earth’s interior.
The subsequent cooling of the planet from this molten state, and the crystallisation of these magma oceans into solid rock, was a defining stage in the assembly of our planet’s structure, the chemistry of its surface, and the formation of its early atmosphere.
These primeval rocks, containing clues that might explain Earth’s habitability, were assumed to have been lost to the ravages of plate tectonics. But now, my team has discovered the chemical remnants of Earth’s magma oceans in 3.7 billion year-old rocks from southern Greenland, revealing a tantalising snapshot of a time when the Earth was almost entirely molten.
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VANCOUVER, BC / ACCESSWIRE / March 12, 2021 / Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) ( Kingman or the Company ) is pleased to announce that the Company completed MH-03 which was drilled at a -60° angle and reached a depth of 346 feet (105.5 m). It passed through 272 ft (82.9 m) of the quartz diorite gneiss, which is the country rock in this region. It then entered a short 2 ft zone with sulfide stringers before entering a void. The void is presumed to be some of the old mine workings in the Rosebud Mine that were not shown on the historic maps or cross sections. The drillers were able to continue the core hole on the other side of the void and drilled 37 ft (11.3 m) of the rhyolite dike. The hole then encountered altered rhyolite and diorite for 9 ft (2.7 m) from 315 to 324 ft. This altered zone is believed to be the second (West) vein described in historic reports.
It s tricky to figure out what Earth might have looked like in the early years before life emerged. Geological detectives have now obtained more evidence that it was rather different to the planet we live on today.