- Atlas Salt (REMRF, Financial) is advancing an Updated Feasibility Study for its Great Atlantic Salt Project, aimed at enhancing production and economic outcomes.
- The study, led by SLR Consulting, will incorporate Sandvik Mining Equipment to improve operational efficiency.
- Completion of the Updated Feasibility Study is expected by Q3 2025, facilitated by project financing arrangements under Endeavour Financial.
Atlas Salt (REMRF) is making significant progress with its Great Atlantic Salt Project in Newfoundland and Labrador through the initiation of an Updated Feasibility Study (UFS). This initiative aims to optimize production rates, refine mine planning, and improve economic outcomes, capitalizing on updates from the 2023 Feasibility Study.
SLR Consulting is spearheading the UFS, focusing on multiple objectives such as enhanced production optimization, refined mine plan and scheduling, processing improvements, and integrating Sandvik Mining Equipment. This strategic integration is anticipated to boost operational efficiency and reduce operating costs.
In addition to technical enhancements, Atlas Salt has engaged Endeavour Financial to advance the project financing process. The completion of the UFS by Q3 2025 will provide crucial inputs for finalizing the project financing arrangements.
Furthermore, Atlas Salt has issued various compensation securities to its officers, including 800,000 performance share units, 700,000 restricted share units, and 600,000 stock options with an exercise price of $0.49, highlighting the company’s commitment to aligning executive incentives with project milestones.
These developments mark a pivotal step towards fortifying Atlas Salt’s position in the North American salt market, aiming to achieve a low-cost production model while adhering to environmental and regulatory standards.
