Silver Elephant Mining Corp 6-K, filed Jan 8, 2020
Silver Elephant Mining Corp. (SILEF)
6-K
2020-01-08
For: 2020-01-08
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April 06, 2026
About this 6-K
Silver Elephant Mining Corp filed this 6-K on January 8, 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 January
2020
Commission
File Number 000-55985
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PROPHECY DEVELOPMENT 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 ☐
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):
☐
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.
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): ☐
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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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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PROPHECY
DEVELOPMENT CORP.
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Date: January 8,
2020
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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 January 8, 2020
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Exhibit 99.1
Prophecy’s Accomplishments in 2019
and Objectives in 2020
Vancouver, British Columbia, January 7, 2020 – Prophecy
Development Corp. (“Prophecy” or the
“Company”) (TSX:PCY, OTCQX:PRPCF,
Frankfurt:1P2N)
Dear Investors,
Prophecy had an outstanding 2019. We bolstered our silver-focused
technical team by recruiting two mining engineers to the Board of
Directors: Marc Leduc (formerly president of Bear Creek Mining) and
Ron Clayton (formerly CEO of Tahoe Resources). We recruited a CEO:
Mike Doolin, who earlier commissioned three mines at Klondex Mines
Ltd (acquired by Hecla in 2018). Finally (as far as hires go),
Prophecy hired two full time geologists to work at Pulacayo and
scout out regional projects. Otherwise,
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We
signed a landmark 30-year Pulacayo mining production contract with
the Bolivian government.
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We
signed a life-of-mine cooperation agreement with the Pulacayo
mining cooperatives. (We consider government and community
relations as our strong suits.).
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We
eliminated all the Bolivian tax liabilities which incurred more
than 10 years ago.
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We
drilled Pulacayo and Paca for the first time in eight years, with
the best Paca drill hole intersecting 12 meters of 1,085 g within
79 meters of 279 g/t. This is comparable to the best drill results
from our neighbor New Pacific Metals Corp’s Silver Sands
project. We have barely scratched the surface of this massive
system (literally as well as metaphorically). Pulacayo drilling is
ongoing, with results pending throughout Q1 2020.
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We
raised $6.9 million in equity with lead orders from Eric Sprott,
who alone owns 9% of Prophecy, along with several new institutional
funds. Additionally, no warrants were offered in the equity
placements.
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We
filed Gibellini vanadium environmental baseline reports and the
Plan of Operations with BLM and the Water Pollution Control Permit
(WPCP) and Air Quality Permit with State of Nevada —on time
and under budget.
We believe Pulacayo is one of the very few first-tier silver
deposits not owned by a mining major.
However, this doesn’t mean we are standing still. To the
contrary: we have already set out to achieve our two major 2020
objectives: increasing in-situ Pulacayo silver ounces and
increasing investor awareness.
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We will accomplish those two major objectives by
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scientifically
locating the most promising drill targets and systematically
drilling those targets at Pulacayo and Paca,
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preparing
updated, independent resource estimates to account for new resource
discoveries,
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attracting
and bringing in analyst research coverage, new strategic investors,
and
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diligently
searching for and negotiating the acquisition of other quality
silver and gold projects.
Prophecy has the best team for taking Pulacayo to new
heights.
We look to build investor confidence by executing our plans and
thriving in Bolivia, a country which we believe will be one of most
attractive South American mining investment destinations going
forward. Bolivia is looking past Evo Morales era and readying
itself to re-engage with international mining investors to develop
its high potential mining projects.
The US election in November 2020 almost ensures policies of fiscal
expansion and monetary easing in the next 12 months, which means
now is the ideal time to invest in gold and silver mining
companies. We think there is a good chance of seeing gold and
silver prices continuing to rise towards their 2011
highs.
I invite all to be part of this exciting journey, be it as
shareholders, technology partners, project financers, or product
concentrate off-takers. We look forward to hearing from
you.
Yours sincerely,
John Lee, Executive Chairman
jlee@prophecydev.com
and
Michael Doolin, Chief Executive Officer
mdoolin@prophecydev.com
The technical contents of this news release have been prepared
under the supervision of Danniel Oosterman, VP Exploration. Mr.
Oosterman is not independent of the Company in that he is employed
by it. Mr. Oosterman is a Qualified Person (“QP”) as
defined in the NI 43-101 guidelines.
About Prophecy
Prophecy
is developing premier Pulacayo silver project in Bolivia. Further
information on Prophecy can be found at www.prophecydev.com.
PROPHECY DEVELOPMENT CORP.
ON
BEHALF OF THE BOARD
“Michael Doolin”
Chief
Executive Officer
For
more information about Prophecy, please contact Investor
Relations:
+1.604.569.3661
ext. 101
ir@prophecydev.com www.prophecydev.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.
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