Silver Elephant Mining Corp 6-K, filed May 14, 2021
Silver Elephant Mining Corp. (SILEF)
6-K
2021-05-14
For: 2021-05-14
View Original
Added on
April 06, 2026
About this 6-K
Silver Elephant Mining Corp filed this 6-K on May 14, 2021.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 UNDER
THE
SECURITIES EXCHANGE ACT OF 1934
For the
month of May
2021
Commission
File Number 000-55985
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SILVER ELEPHANT MINING CORP.
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(Translation
of registrant’s name into English)
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Suite 1610 – 409 Granville Street
Vancouver, British Columbia, Canada V6C 1T2
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(Address
of principal executive offices)
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Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F
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Form
20-F
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☒
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Form
40-F
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☐
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1):
☐
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Note: Regulation S-T Rule 101(b)(1) only permits
the submission in paper of a Form 6-K if submitted solely to
provide an attached annual report to security holders.
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(7): ☐
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Note: Regulation S-T Rule 101(b)(7) only permits
the submission in paper of a Form 6-K if submitted to furnish
a report or other document that the registrant foreign private
issuer must furnish and make public under the laws of the
jurisdiction in which the registrant is incorporated, domiciled or
legally organized (the registrant’s “home
country”), or under the rules of the home country exchange on
which the registrant’s securities are traded, as long as the
report or other document is not a press release, is not required to
be and has not been distributed to the registrant’s security
holders, and, if discussing a material event, has already been the
subject of a Form 6-K submission or other Commission filing on
EDGAR.
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1
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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SILVER
ELEPHANT MINING CORP.
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Date:
May 14,
2021
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By:
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/s/ Brigitte McArthur
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Brigitte McArthur
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Corporate Secretary
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INDEX TO EXHIBITS
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News
release dated May 14, 2021
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Exhibit 99.1
Silver Elephant Proposes a Return to Pure Silver Miner
with Nickel and Vanadium Spin-Outs
Vancouver, British Columbia, May 14, 2021 – Silver Elephant
Mining Corp. (“Silver Elephant” or “the
Company”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N)
announces it is planning to spin out
Flying Nickel Mining Corp. and Nevada Vanadium Mining Corp., two
Canadian companies wholly owned by Silver Elephant. Doing so
will return Silver Elephant to being a dedicated silver
investment vehicle.
John Lee, CFA, Silver Elephant’s Chairman
states:
“Silver Elephant is moving toward a pure silver play with
proposed spinouts of its non-silver assets. The Company will focus
on resource expansion and environmental permitting of our flagship
Pulacayo silver project in Bolivia. Pulacayo hosts 107 million oz
of silver in the indicated category according to Mercator technical
report dated October 13, 2020. $35 million has been invested at
Pulacayo with over 100,000 meters of drilling.
Silver Elephant is returning to its silver roots and will be moving
away from diluting silver assets with non-silver purchases, as
exemplified by other silver explorers and miners such as First
Majestic and Fortuna Silver this year.
Bolivia is opening up to foreign investment, in stark contrast to
growing anti-foreign-mining sentiment in Peru. Silver
Elephant’s team in Bolivia has been operating peacefully at
Pulacayo since 2005 with strong support from the local
community.
While Silver Elephant is still working out the timing to effect the
dual spin outs (which are non-binding at this stage), we feel
it’s important to communicate the company’s future
direction.”
In the following weeks, the company will provide procedural
briefings and updates on its management additions, and banking
advisory appointments.
Vanadium and nickel prices are trading at or near a multi-year
high. Descriptions of Silver Elephant’s subsidiaries are
provided below. Additional information can be found at
www.silverelef.com.
Flying Nickel Mining Corp (FNI)
FNI will own the Minago nickel sulphide project. It is located in
the Thompson nickel belt (TNB), which is the fifth-largest
nickel-bearing geological belt in the world. TNB had over 5 billion
pounds of nickel production since 1958. Both Manitoba provincial
highway 6 and a high-voltage (230 kV) transmission line transect
Minago. In 2011, an Environmental Impact Assessment was approved
for a 10,000-tonnes-per-day open-pit operation at Minago. FNI is
undertaking to renew the EIA in 2021. Over $35 million has been
invested at Minago with over 74,000 meters of historic exploration
drilling.
Nevada Vanadium Mining Corp (NVV)
NVV will own the Gibellini vanadium project, designed to be an
open-pit, heap-leach operation in Nevada, USA. Nevada was ranked by
the Fraser Institute as the world’s #1 mining investment
jurisdiction in 2018 and 2020. The Gibellini project development
achieved an important milestone in July 2020 when the Notice of
Intent to prepare an Environmental Impact Statement
(“EIS”) was published in the Federal Register. A final
Record of Decision on EIS is expected in 2021. The U.S. government has
designated vanadium as one of 35 critical minerals to the national
security and the economy. Vanadium alloys and catalysts are used in
the aerospace, defense, energy storage, and infrastructure sectors.
Over $35 million has been invested at Gibellini to
date.
About Silver Elephant
Silver Elephant Mining Corp. is a premier silver mining and
exploration company.
Further information on Silver Elephant can be found at
www.silverelef.com.
SILVER ELEPHANT MINING CORP.
ON
BEHALF OF THE BOARD
“John Lee”
Executive Chairman
For more information about Silver Elephant, please contact Investor
Relations:
+1.604.569.3661 ext. 101
ir@silverelef.com www.silverelef.com
Neither the Toronto Stock Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Toronto
Stock Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain
statements contained in this news release, including statements
which may contain words such as “expects”,
“anticipates”, “intends”,
“plans”, “believes”,
“estimates”, or similar expressions, and statements
related to matters which are not historical facts are
forward-looking information within the meaning of applicable
securities laws. Such forward-looking statements, which reflect
management’s expectations regarding Company’s future
growth, results of operations, performance, and business prospects
and opportunities, are based on certain factors and assumptions and
involve known and unknown risks and uncertainties which may cause
the actual results, performance, or achievements to be materially
different from future results, performance, or achievements
expressed or implied by such forward-looking
statements.
These
factors should be considered carefully, and readers should not
place undue reliance on the Company’s forward-looking
statements. The Company believes that the expectations reflected in
the forward-looking statements contained in this news release and
the documents incorporated by reference herein are reasonable, but
no assurance can be given that these expectations will prove to be
correct. In addition, although the Company has attempted to
identify important factors that could cause actual actions, events,
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events, or results not to be as anticipated, estimated, or
intended.
In addition, forward-looking statements by their nature involve
risks and uncertainties, and there can be no assurance that such
statements will prove to be accurate or true. In particular, there
is no assurance that the Company will be able to proceed with its
plan to spin out(s) in a timely fashion, or that it will be able to
obtain the necessary approvals to do it at all. Investors should
not place undue reliance on forward-looking statements. The Company
does not undertake any obligation to update forward-looking
statements except as required by law.