Skip to content

EDM Resources Inc. (TSXV:EDM) – Scotia Mine Restart Update; Pushing Out Our Estimates

Impact: Mildly Negative

EDM provided an update on activities at its Scotia Mine project near Halifax. It is still in the process of determining a development timeline for the Scotia Mine; however, due to the weaker zinc price level and forecast for 2024, the company indicated that it plans to align the re-start timeline with potentially more favourable zinc market conditions. We note that the zinc price is currently sitting around ~US$1.04/lb, which is below the US$1.22/lb price used in the Scotia Mine PFS and the US$1.20/lb LT price we use in our price deck. Once a development timeline is announced, EDM anticipates commercial production could occur within 6-9 months. Additionally, EDM reported that Ausenco has conducted detailed design work on the mill, and construction drawings are anticipated by Q4/24. The company also plans to submit its Department of Fisheries and Oceans’ (DFO) approval following additional fieldwork this summer. Results from exploration field work on its prospects near the Scotia Mine are anticipated in Q4/23.

Top Stories


Abcourt Mines Inc.
Aeris Resources Limited.
Aero Energy Ltd.
Alaska Energy Metals
Aldebaran Resources Inc.
ALX Resources Corp.
Anfield Energy Inc.
Argentina Lithium & Energy Corp.
Aris Mining Corp.
Aston Minerals Ltd.
Atco Mining Inc.
Atha Energy Corp.
Aura Energy Ltd.
Aurora Energy Metals Ltd.
Aurion Resources
Azincourt Energy Corp.
Aztec Minerals Corp.
Barton Gold Holdings Limited
Baselode Energy Corp.
Blackrock Silver Corp.
Blackwolf Copper and Gold Ltd.
Blue Sky Uranium Corp.
Bradda Head Lithium Ltd.
Brunswick Exploration Inc.
Canada Nickel Company Inc.
CanAlaska Uranium Ltd.
Canterra Minerals Corp.
Cassiar Gold Corp.
CDN Maverick Capital Corp.
Cerrado Gold Inc.
Chalice Mining Ltd.
Clean Air Metals Inc.
Cordoba Minerals Corp.
Critical Elements Lithium Corp.
Defiance Silver Corp.
Denarius Metals Corp.
E3 Lithium Ltd.
EDM Resources Inc.
Electra Battery Materials Corp.
Empress Royalty Corp.
Energy Fuels Inc.
EnviroGold Global Ltd.
Falco Resources Ltd.
Fathom Nickel Inc.
Fission Uranium Corp.
F3 Uranium Corp.
Flying Nickel Mining Corp.
Foremost Lithium Resource & Technology Ltd.
Forsys Metals Corp.
Forum Energy Metals Corp.
Galleon Gold Corp.
Global Atomic Corp.
Goldstorm Metals Corp
Goliath Resources Ltd.
GoviEx Uranium Inc.
GR Silver Mining Ltd.
Grid Metals Corp.
Grounded Lithium Corp.
Halcones Precious Metals Corp.
IsoEnergy Ltd.
Japan Gold Corp.
Karora Resources Inc.
Kesselrun Resources Ltd.
Kootenay Silver Inc.
Koryx Copper Inc.
Laramide Resources Ltd.
Latin Resources Ltd.
Libero Copper & Gold Corp.
Lotus Resources Ltd.
Lumina Gold Corp.
Mawson Gold Ltd.
MTB Metals Corp.
Murchison Minerals Ltd.
Myriad Uranium Corp.


  • All Commodities
  • Cobalt
  • Copper
  • Gold
  • Lithium
  • Nickel
  • Royalty
  • Silver
  • Uranium
  • Zinc
All Commodities
  • All Commodities
  • Cobalt
  • Copper
  • Gold
  • Lithium
  • Nickel
  • Royalty
  • Silver
  • Uranium
  • Zinc

Aris Mining Corp. (TSX:ARIS) – H1/24 Production Miss with Lower Grades Mined; 2024 Guidance Re-iterated

Baselode Energy Corp. (TSXV:FIND) – Regional Hook Drilling Discovers Radioactivity 6KM NE of ACKIO

Fission Uranium Corp. (TSX:FCU) – All Infill Holes at R1515W Intersect Mineralization; Resource Upgrade Likely

Content Filters