Silver Elephant Mining Corp 6-K, filed Jul 16, 2020
Silver Elephant Mining Corp. (SILEF)
6-K
2020-07-16
For: 2020-07-16
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April 06, 2026
About this 6-K
Silver Elephant Mining Corp filed this 6-K on July 16, 2020.
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 July,
2020
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:
July 16, 2020
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/s/ Brigitte
McArthur
Brigitte McArthur
Corporate Secretary
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INDEX TO EXHIBITS
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News
Release dated July 16, 2020
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Exhibit 99.1
Silver Elephant: Notice of Intent to Prepare EIS Published for
Gibellini Vanadium Project
Vancouver, British Columbia, July 16, 2020 – Silver Elephant
Mining Corp. (“Silver Elephant” or the
“Company”) (TSX: ELEF, OTCQX:SILEF,
Frankfurt:1P2N) is pleased to announce that the Notice of
Intent (“NOI”) to prepare an Environmental Impact
Statement (“EIS”) for the Gibellini Vanadium Project
(“Project”) located in Eureka County, Nevada, USA was
published on July 14, 2020 in the Federal Register. The Gibellini
Project is 100% owned by Nevada Vanadium LLC. (“Nevada
Vanadium”), a Nevada corporation that is a wholly owned
subsidiary of Silver Elephant Mining Corp.
The NOI
formally commences the 12-month timeline to complete the National
Environmental Policy Act (“NEPA”) review and EIS
preparation by the U.S. Department of the Interior Bureau of Land
Management (“BLM”). The NEPA process is designed to
help public officials complete permitting decisions that are
protective of the environment and includes a public engagement
process.
Per
news release from The
Bureau of Land Management (BLM) Mount Lewis
Office:
“If approved, this project would provide hundreds of jobs and
will contribute to the nation’s domestic source of critical
minerals,” said Doug Furtado, Battle Mountain District
Manager. “The Gibellini mine would also be the first vanadium
mine in the U.S. and, in accordance with Secretarial Order 3355, we
anticipate having a record of decision in 12 months.
As there is currently no primary domestic production of vanadium,
the United States is dependent on foreign sources of vanadium; this
creates a strategic vulnerability for both the economy and military
to adverse government action or other events that can disrupt the
supply of this key mineral.”
Please
visit www.nevadavanadium.com
for the full news release from Nevada Vanadium LLC.
SILVER ELEPHANT MINING CORP.
“John Lee”
Chairman
For
more information about Silver Elephant, please contact Investor
Relations:
+1.604.569.3661
ext. 101
ir@silverelephant.com
www.silverelephant.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
Some
statements in this news release are about future events and
performance. Such statements are based on current estimates,
predictions, expectations, or beliefs. The subjects of the
statements include, but are not limited to, (i) the PEA
representing a viable development option for the project; (ii)
construction of a mine at the project and related actions; (iii)
estimates of the capital costs of constructing mine facilities,
bringing the mine into production, and sustaining the mine,
together with estimates of the length of financing payback periods;
(iv) the estimated amount of future production, of both [raw
material?] and metal recovered; and (vi) estimates of the life of
the mine and of the operating and total costs, cash flow, net
present value, and economic returns, including internal rate of
return from an operating mine constructed at the project. All
forward-looking statements are based on Silver Elephant’s or
its consultants’ current beliefs and assumptions, which are
in turn based on the information currently available to them. The
most significant assumptions are set forth above, but generally
these assumptions include: (i) the presence and continuity of
vanadium mineralization at the project at the estimated grades;
(ii) the geotechnical and metallurgical characteristics of the rock
conforming to the sampled results; (iii) infrastructure
construction costs and schedule; (iv) the availability of
personnel, machinery, and equipment at the estimated prices and
within the estimated delivery times; (v) currency exchange rates;
(vi) vanadium sale prices; (vii) appropriate discount rates applied
to the cash flows in the economic analysis; (viii) tax rates
applicable to the proposed mining operation; (ix) the availability
of acceptable financing on reasonable terms; (x) projected recovery
rates and use of a process method, which although well-known and
proven with other commodity types, such as copper, has not been
previously brought into production for a vanadium project; (xi)
reasonable contingency requirements; (xii) success in realizing
proposed operations; and (xiii) assumptions that the
project’s environmental approval and permitting is
forthcoming from county, state, and federal authorities. The
economic analysis is partly based on 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 based on these Mineral Resources will be realized.
Currently there are no Mineral Reserves on the Gibellini property.
Although the Company’s management and its consultants
consider these assumptions to be reasonable, given the information
currently available to them, they could prove to be incorrect. Many
forward-looking statements are made assuming the correctness of
other forward-looking statements, such as statements of net present
value and internal rates of return. Those statements are based in
turn on most of the other forward-looking statements and
assumptions made herein. The cost information is also prepared
using current values, but the time for incurring the costs is in
the future and it is assumed costs will remain stable over the
relevant period.
These
factors should be considered carefully, and readers should not
place undue reliance on forward-looking statements by Silver
Elephant or its consultants. Silver Elephant and its consultants
believe 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 correct. In
addition, although Prophecy and its consultants have 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. Silver Elephant and its consultants undertake no
obligation to publicly release any future revisions of the
forward-looking statements that reflect events or circumstances
that occur after the date of this news release or reflect the
occurrence of unanticipated events, except as expressly required by
law.