Silver Elephant Mining Corp 6-K, filed Aug 26, 2021
Silver Elephant Mining Corp. (SILEF)
6-K
2021-08-26
For: 2021-08-26
View Original
Added on
July 04, 2026
About this 6-K
Silver Elephant Mining Corp filed this 6-K on August 26, 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 August ,
2021
Commission
File Number 000-55985
|
SILVER ELEPHANT MINING CORP.
|
|
(Translation
of registrant’s name into English)
|
|
Suite 1610 – 409 Granville Street
Vancouver, British Columbia, Canada V6C 1T2
|
|
(Address
of principal executive offices)
|
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F
|
Form
20-F
|
☒
|
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.
|
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.
|
|
SILVER ELEPHANT MINING CORP.
|
|
|
/s/
Irina
Plavutska
|
|
Date:
August 26, 2021
|
Irina Plavutska
Chief Financial Officer
|
INDEX TO EXHIBITS
|
News
release dated August 26, 2021.
|
Exhibit
99.1
Silver Elephant Announces Creation of New Royalty Focused
Subsidiary and Grant of 2% Royalty of Company’s Mining
Projects
Vancouver, British Columbia, August 26, 2021 – Silver
Elephant Mining Corp. (“Silver Elephant” or “the
Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N)
announces that it has
entered into 2% royalty agreements (the “Royalty
Agreements”) whereby the Company now holds a 2% royalty over
each of the Company’s key projects (the
“Royalties”), and, in connection with the previously
announced spin-out and plan of arrangement of the Company (the
“Arrangement”), such Royalties will be transferred into
a newly incorporated wholly-owned subsidiary of the Company named
Battery Metals Royalties Corp. (“Battery Metals
Royalties”).
Pursuant to the Royalty Agreements and in connection with the
Arrangement, Silver Elephant and its subsidiaries shall place the
Royalties, which primarily consists of 2% net smelter return
royalty over the Company’s Minago nickel project, 2% royalty
over the Company’s Gibellini vanadium project, and 2% net
smelter return royalty over the Company’s Pulacayo silver
project, into Battery Metals Royalties.
In all but one case, the Royalties are payable to Battery Metals
Royalties only when the price of the underlying metal in the mining
project has been reached (“Threshold Prices”). The
Threshold Prices have been set well above current metal prices by
design to minimize the Royalties’ impact on future mine
construction decisions.
|
Project, all 100%
|
Country
|
43-101
Resource(1)
|
Royalty Payment,
Threshold
Price(8)
|
|
Minago Nickel
|
Manitoba, Canada
|
722 million lbs Ni (I)(2)
319 million lbs Ni (Inf) (2)
|
2%
when Nickel is over $15/lb
|
|
Gibellini Vanadium
|
Nevada,
USA
|
131 million lbs V2O5
(M&I)
(3)
94 million lbs V2O5
(Inf) (3)
|
2%
when V2O5
is over
$12/lb
|
|
Pulacayo Silver-Lead-Zinc
|
Potosi, Bolivia
|
107million oz Ag (I) (4)
1,410 million lbs Zn (I) (4)
690 million lbs Pb (I) (4)
|
2%
when Silver is over $30/oz
|
|
El Triunfo Gold-Silver
|
Bolivia
|
N/A
|
2%
when Silver is over $30/oz
|
|
Titan Iron Vanadium
|
Canada
|
434 million lbs V2O5
(Inf) (5)
|
2%
when V2O5
is over
$12/lb
|
|
Ulaan Ovoo Coal
Chandgana Coal
|
Mongolia
|
20.7 million tonnes (Proven) (6)
124 million tonnes (Measured) (7)
|
$2 per tonne of coal sold
no Threshold Price
|
Notes:
(1)
Measured (M) Indicated (I), Inferred (Inf)
(2)
Minago resource completed by Mercator Technical Services and AGP
Mining Consultant, refer to news release dated July 6th,
2021.
(3)
Gibellini resource completed by Wood, Plc, refer to news release
dated May 29th, 2018.
(4)
Pulacayo resource completed by Mercator Geotechnical Services refer
to news release dated October 13th, 2020.
(5)
Titan resource completed by Mine Development Associates refer to
news release dated November 8, 2017
(6)
Ulaan Ovoo resource completed by Wardrop refer to news release
dated December 16, 2010
(7)
Chandgana resource completed by John T. Boyd Company refer to news
April 3, 2014
(8)
Dollars valued in USD
It is expected that upon completion of the Arrangement, Battery
Metals Royalties will be managed by John Lee, CFA. Mr. Lee has
over 20 years of experience
in metals and mining. Battery Metals Royalties will focus on
mining investments
in nickel, vanadium, silver, copper, and gold, and seek to leverage
Mr. Lee’s extensive network to locate opportunities before
they become mainstream.
In the past decade, Mr. Lee visited well over 50 mining projects
around the world and led Silver Elephant in the acquisition of over
15 mining properties in Canada, US, Bolivia, and Asia. Mr. Lee has
helped raised over $120 million in equity financings for Silver
Elephant, a skill which he will apply to grow Battery Metal
Royalties.
Qualified Persons
The technical contents of this news release have been prepared
under the supervision of Danniel Oosterman, VP Exploration for
Silver Elephant. Mr. Oosterman is a “qualified person”
as defined by National Instrument 43-101 –
Standards of
Disclosure for Mineral Projects (“NI 43-101”) and is not independent
of the Company as this term is defined under NI
43-101.
About Silver Elephant
Silver Elephant Mining Corp. is a premier mining and exploration
company in silver, nickel, and vanadium.
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. These forward‐looking
statements, may involve, but are not limited to, statements with
respect to future events or future performance, the completion and
structure of the Arrangement, the realization of the anticipated
benefits deriving from the Company’s or Battery Metals
Royalties’ investments, the general performance of the assets
of the Company and Battery Metals Royalties, and the results of
exploration, development and production activities as well as
expansions projects relating to the properties of the Company
and/or in which the Company and/or Battery Metals Royalties will
hold a royalty, stream or other interest. Such forward-looking
statements, which reflect management’s expectations regarding
the Company’s future growth, results of operations,
performance, and business prospects and opportunities, are based on
certain factors and assumptions, including, without limitation,
management’s perceptions of historical trends; current
conditions; expected future developments; the ongoing operation of
the properties of the Company and/or in which the Company and/or
Battery Metals Royalties will hold a royalty, stream or other
interest by the operators of such properties in a manner consistent
with past practice; the accuracy of public statements and
disclosures made by the operators of such underlying properties; no
material adverse change in the market price of the commodities that
underlie the asset portfolio; no adverse development in respect of
any significant property of the Company and/or in which the Company
and/or Battery Metals Royalties will hold a royalty, stream or
other interest; the accuracy of expectations for the development of
underlying properties that are not yet in production; and the
absence of any other factors that could cause actions, events or
results to differ from those anticipated, estimated or intended,
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. Forward‐looking
statements are not guarantees of performance.
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.
For additional information with respect to these and other factors
and assumptions underlying the forward‐looking
statements made in this press release, see the section entitled
“Risk Factors” in the most recent Annual Information
Form of the Company which is filed with the Canadian securities
commissions and available electronically under the Company’s
issuer profile on SEDAR at www.sedar.com and the Company’s
Form 20-F annual report for the year ended December 31, 2020 filed
with the U.S. Securities and Exchange Commission and available
electronically under the Company’s issuer profile on EDGAR at
www.sec.gov. The forward‐looking
statements set forth herein reflect the Company’s
expectations as at the date of this press release and are subject
to change after such date. The Company undertakes no obligation to
publicly release any future revisions to forward-looking statements
to reflect events or circumstances after the date of this news or
to reflect the occurrence of unanticipated events, except as
expressly required by law.
None of the securities to be issued pursuant to the Arrangement
have been or will be registered under the United States Securities
Act of 1933, as amended (the “U.S. Securities Act”), or
any state securities laws, and any securities issuable in the
transaction are anticipated to be issued in reliance upon available
exemptions from such registration requirements pursuant to Section
3(a)(10) of the U.S. Securities Act and applicable exemptions under
state securities laws. This press release does not constitute an
offer to sell or the solicitation of an offer to buy any
securities.