American CuMo Mining Announces Silver Purchase Financing Approved for Vienna Exchange Listing

Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - American CuMo Mining Corporation (TSXV: MLY) (OTC Pink: MLYCF) is pleased to announce that it has received approval from the Vienna Stock Exchange for admittance to trading for its majority owned subsidiary, International CuMo Mining Corporation's ("ICMC") previously announced Silver Financing (see news release dated April 7, 2021). The units are identified on the exchange as Collateralized Silver Purchase Right Bond CUMO S3 with an ISIN AT0000A2R0R7 and will begin trading May 17, 2021.

The Financing involves the sale of up to 12,500 units ("ICMC Silver Units") by ICMC at a price of US$1,000 per ICMC Silver Unit, with each ICMC Silver Unit consisting of a promissory note in the principal amount of US$1,000 (a "Note") and a right (the "Silver Purchase Right") to enter into a silver purchase and sale agreement (a "Silver Purchase Agreement") with ICMC. The Notes would be secured against certain assets of ICMC; bear interest at a rate of 7.5% per annum payable or accruable semi-annually on June 30 and December 31; and have a term of seven years. With the consent of the holder of the Note, ICMC could prepay all or any portion of the principal amount outstanding under such Note at any time, provided that any prepayment in whole or in part of the Note would cause the Silver Purchase Right to immediately expire. The offering is subject to the final approval of the TSX Venture Exchange prior to closing.

Investors interested in these units can obtain additional information from the Company at 604-689-7902 or toll-free at 1-800-667-0873 or by email at [email protected].

Proceeds from the ICMC Financing will be used to further develop the Company's flagship asset, the CuMo Project, a large molybdenum, copper, and silver property located in Idaho, including: updating the resource calculation, updating the economic analysis, expanding metallurgical testing, conducting in-fill drilling and conducting environmental base-line studies, as well as to reduce current trade payables and for general working capital purposes and also initiate the data gathering and exploration work to be conducted at its recently acquired Bleiberg project. Certain of the proceeds will also be put aside to ensure interest payments can be made. Finder's fees, in accordance with TSX Venture policy, will be paid in connection with the ICMC Financing.

In an update, the Company stated that the recent large increase in metal prices, especially in the price of copper, is having a positive effect on the potential economics of the CuMo project. In the June 2, 2020 Independent 43-101 Preliminary Economic Analysis (PEA), the 30-year production schedule included 2.5 billion pounds of copper and 107 million ounces of silver. The PEA study used prices of US$3 per lb copper and US$17.50 per ounce silver and calculated a cash cost net of by-products, to produce a pound of Molybdenum at US$4.64. Current metal prices would reduce this potential cash cost to under US$0.75 per pound.

Note: The PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA or the new metal prices will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

About American CuMo Mining

CuMoCo is focused on advancing its CuMo Project towards feasibility and developing its zinc-germanium-lead-cadmium-fluorite deposit in Austria. Management is continuing to build an even stronger foundation from which to move the Company and its projects forward. For more information, please visit, and

For further information, please contact:

American CuMo Mining Corporation
Shaun Dykes, President and Chief Executive Officer
Tel: (604) 689-7902
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

Cautionary statement regarding forward‐looking information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation including, but not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, such the Company's ability to move its CuMo Project to feasibility and production, and to become one of the largest and lowest-cost molybdenum producers in the world as well as a significant producer of copper and silver. Forward-looking information is based on a number of material factors and assumptions, including the result of exploration activities, the ability of the Company to raise the financing for a feasibility study and to put the CuMo project into production, that no labour shortages or delays are experienced, that plant and equipment function as specified that the Court will not intervene with the Company's proposed exploration activities at the CuMo Project, and the ability of the Company to obtain all requisite permits and licenses to advance the CuMo Project and eventually bring it into production. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future prediction, projection or forecast expressed or implied by the forward-looking information. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of molybdenum, silver and copper; possible variations in grade or recovery rates; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing, as well as those factors disclosed in the Company's publicly filed documents, including the Company's Management's Discussion and Analysis for the period ended December 31, 2020. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

To view the source version of this press release, please visit

Comment On!

Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to (via Easy Blurb).