NEW YORK, NY –
CGrowth Capital Inc. is delighted to announce the appointment of specialized teams and companies that are integral to the development and execution of in-depth formal reports on the company’s mining tenements. The results of these reports have significantly surpassed expectations and are scheduled for release in the coming weeks. The reports were completed by highly qualified, independent professionals on the appointed teams. Their appointments were based on their expertise and strict adherence to the industry standards of JORC, SAMREC, and ISO NI 43-101, ensuring that every aspect of the reporting is not only accurate but also trustworthy and reliable. The appointed teams have been working on-site full-time over the past several months and have made exceptional progress. Details on the newly added companies and professionals to the CGRA Mining Inc. team, along with their qualifications, are available in the investor section of the CGRA Mining website. This resource provides comprehensive information on the expertise and backgrounds of our team members, reflecting our commitment to transparency and excellence in our operations.
Metminec (Pty) Ltd has been appointed by CGRA Mining Inc. as the primary geological consultant tasked with taking the company to proven reserve. The company’s mandate is to complete the initial resource estimate and embark on drilling and other programs to deliver a complete Preliminary Economic Assessment (PEA) in Q2 2024 and a Pre-Feasibility Study (PFS) with a proven reserve in early 2025. First tasked with executing a phased geological exploration program across the company’s tenements in the Dodoma Urban area of Tanzania, Metminec has successfully completed the initial Desktop Research & Reconnaissance survey of the selected prospecting sites. The promising results of this survey are expected to be released in the coming weeks. In addition to this, Metminec has developed a comprehensive project rollout and action plan, detailing the timelines and activities for the discovery phase of the project. This work, underpinned by Metminec’s proprietary and proven methodology, involves a phased, risk-based approach to exploration on the prospecting tenements held by CGRA Mining Inc. Details on the highly competent Metminec team members and their qualifications can be found in the investor section of the CGRA Mining website.
Earthlab Technical Division (Pty) Ltd has been appointed as the peer review company by CGRA Mining Inc., a role in which they serve as the independent evaluator. Their responsibilities are comprehensive, encompassing the creation of the overall mining plan, financial modeling, and overseeing the feasibility of the mining project. This appointment ensures the highest level of integrity and viability in the project’s development. Earthlab boasts a notable track record, having collaborated with some of the world’s leading mining companies, including the multi-billion-dollar industry giant, De Beers Consolidated Mines. A key figure in Earthlab’s team is Mr. Deon du Plessis, who brings 22 years of technical and consulting experience in mining. His expertise spans exploratory development and expansion of both open-pit and underground mining across multiple commodities, including lithium in hard rock and brines. His previous experience includes a significant role as Senior Geologist at De Beers, where he was responsible for production and evaluation drilling in their Mineral Resources Management division.
Nicolas Link, Chairman of CGRA, commented, ‘‘The strategic team expansions and expert appointments at CGrowth Capital Inc. mark a key step in enhancing our mining division’s capabilities. These experts have not only worked with major reputable mining houses but also bring specific African experience that is invaluable at this stage of the project. We are confident these additions will significantly contribute to our growth trajectory and shareholder value. As we enter the exciting discovery stage of our project, we eagerly anticipate unveiling the detailed and comprehensive work undertaken by these seasoned experts over the past several months. Their unparalleled experience and proven track record in the mining sector promise to add significantly to our ongoing operations.”
CGRA’s current trajectory aligns with the Lassonde Curve, a widely recognized model in the mining industry that illustrates the significant growth potential during the discovery stage—a phase CGRA is now entering. The Lassonde Curve suggests that the discovery stage often corresponds with the most substantial increase in a mining company’s market value. As CGRA embarks on this exciting phase, there is a strong anticipation of not only advancing the company’s exploration efforts but also realizing remarkable value growth. Historically, this stage has been a pivotal point for substantial increases in company valuations.
Certain information set forth in this press release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission (“SEC”) has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, in light of the SEC’s guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels: Twitter: @CGRAOTC