Critical Minerals Co. Begins Drilling in Montana

Stillwater Critical Minerals (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) has reported through a press release that it has begun drilling on the Stillwater West project. According to the company, the project, located in Montana, hosts nickel, platinum, copper, cobalt, and gold.

Michael Rowley, the CEO and President of the company, commented, "We are very pleased to have programs underway on all three of our 100%-owned district-scale assets, with particular focus on the expansion of resources defined at our flagship Stillwater West project . . .  we are pleased with the excellent exposure that provides us to the gold market and with the value they are adding to the project. We look forward to further updates as results become available."

According to Stillwater, the company has a number of highlights to report, including the expansion of the NI 43-101 resource, a sixth drill hole, and multiple points of visible sulfide mineralization.

The company reports that certain drill holes have returned as much as 2.89% of recovered nickel equivalent (NiEq). According to Stillwater, the company has also used geological models based on Dr. Danie Grobler's model of South Africa's Platreef district, a decision that was based on similarities between the two mineral complexes.

According to Dr. Danie Grobler, the Vice President of Exploration, "We have successfully intercepted multiple targeted mineralized zones that were predicted in our updated exploration model and are very pleased with what we see in the core at Stillwater West. The current drill campaign is the first to incorporate detailed structural and stratigraphic models from very similar mineralization in South Africa's Bushveld Igneous Complex in the Stillwater Igneous Complex."

Critical Minerals in Demand

Rick Mills of Ahead of the Herd has provided some coverage of critical minerals, which are essential to decarbonization efforts around the world.

According to Mills, "For the U.S., the world's leading economy, securing reliable supplies for these minerals is especially important to not only sustain its dominance but also shed its supply reliance on key rivals like China."

Mills reports that the conflict in Ukraine incentivized the construction of the Partnership for Global Infrastructure and Investment (PGII). According to Mills, demand, supported by legislation, for designated critical minerals, such as graphite and copper, is expected to go up.

Encouraging Investments

Couloir Capital covers the company and said in June, "We are encouraged by the strategic investment in Stillwater Critical Minerals by mining major Glencore. The CA$4.94 million investment for a 9.99% ownership stake values Stillwater at CA$49.4 million or CA$0.25/share; this is a 47% premium to the closing price a day before the announcement."

The company reports that it is expecting the possibility of some deals on its brownfield properties this year and that it is optimistic due to the upward trend in demand for critical minerals.

Ownership and Share Structure

Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own 8.51% of the company. According to Reuters, Executive Chairman Gregory Shawn Johnson owns 3.28% with 5.83 million shares of the company, President, CEO, and director Michael Victor Rowley owns 2.81% with 5.01 million shares, Independent Director Gregor John Hamilton owns 1.82% with 3.25 million shares, Independent Director Gordon L. Toll owns 0.56% with 1.00 million shares, and Vice President of Exploration Daniel F. Grobler owns 0.04% with 0.06 million shares.

According to Reuters, institutions own 12.31% of the company, where Glencore Canada Corp owns 11.10% of the company with 19.76 million shares, U.S. Global Investors, Inc. owns 1.12% with 2.00 million shares, and Plutos Vermögensverwaltung AG owns 0.09% with 0.16 million shares.

The company reports no strategic investors.

Stillwater Critical Minerals reports that it has CA$2.5 million in the bank.

According to Stillwater Critical Minerals, there are 36 million warrants out.

Reuters reports that the company has 178.03 million shares outstanding and 143.12 million free-float traded shares. According to Reuters, the company has a market cap of CA$23.61 million and trades in the 52-week period between CA$0.15 and CA$0.28.

Important Disclosures:

1. Stillwater Critical Minerals is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. 
2. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
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