Canada’s Advantage Energy pushes more CCS
Jun 3, 2021 4:00:pm
Summary
by: Dale Lunan
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Canada’s Advantage Energy pushes more CCS
Advantage Energy, which in April created a joint venture to pursue the commercialisation of its low-cost modular carbon capture and storage (MCCS) technology, said June 2 it had signed memoranda of understanding (MoUs) that could lead to the capture and sequestration of as much as 1mn mt of CO
2 annually.
The MOUs, reached between Entropy, the joint venture company, and four large emitters in western Canada, “represent an important step” in the commercial deployment of MCCS, Entropy said, and demonstrate its versatility across a broad range of applications and jurisdictions.
Imperial Metals launches $60.2M rights offering
Employees at the Red Chris project. Credit: Newcrest Mining.
British Columbia-focused base metals producer
Imperial Metals (TSX: III) has announced a rights offering to raise $60.2 million, (US$49.6 million) which it will use to fund its portion of work at the Red Chris copper-gold mine and repay debt.
Imperial will issue rights to subscribe for 12.85 million common shares at $4.70 each.
Insiders and their affiliates, including major shareholder and Alberta-based resource financier Murray Edwards, president Brian Kynoch and director Larry Moeller will subscribe for about 45.2% of the rights offering.
Imperial says it will use a portion of the cash raised to repay a short-term loan of $10 million (US$8.24 million) extended by Edwards in March.