Spanish Newspaper Feature
On Sunday May 29, 2011, the Spanish regional newspaper “La Voz de Galicia” led its Sunday supplement with a story on Solid Resources’ rare metals project in Spain.
Here is an English summary of the article.
Searching for Galician Treasure
The race for strategic minerals has begun in Galicia: A Canadian company intends to operate the first coltan (tantalum) mine in Europe.
This is Not the Congo
In the midst of the fever for control of strategic minerals, a Canadian venture capital company is advancing with the exploration of what could be the first coltan (tantalum) mine in Europe: € 20 million and strict environmental guarantees.
Solid Resources’ Senior Geologist Dr. Alfonso Garcia gave an overview of the conflict minerals markets and the uses of different metals. Emphasis was put on the importance of Presqueiras having the potential to be the first European producer of tantalum.
The article also explains that:
They are strategic minerals because they provide the indispensable raw materials for any advanced technology.
There is a high probability that the tin and tantalum site can be exploited, according to the technical evaluation.
The mine would cost about € 20 million and create 50 direct jobs and 150 indirect ones.
Dr. Garcia finished by saying: “What I would like to see, if this tantalum/tin/lithium operation comes into being, is the development of research programs and, even thinking further ahead, other things such as, a factory for electronic components. Neither the mines have to be in the Congo nor the factories have to be in Germany.”
Of note: Tantalum exported from the Congo is considered a “conflict mineral”. Meaning it is a major source of income for the military occupation of Congo. The US and other countries have restricted imports of “conflict minerals.”
The article is available in Spanish:
Also the company announced today that it is raising $1million in a private placement. The subscription price is set at $0.10 CDN per unit. Each unit will consist of one common share and a two year full warrant, which has been set at $0.15. The securities issued in connection with the private placement will be subject to a four month hold period.
The use of proceeds outlined in the news release will be “to further enhance our knowledge of the mineralized pegmatite dykes plus commence initial exploration the Peruvian gold/copper property.” Pegmatite is a unique type of rock that hosts the rare metals Solid is currently drilling for on its Spanish property. The metals are Tantalum, Tin, Lithium, Niobium, Cesium and Rubidium.
The company will be initiating a NI 43-101 compliant Reserve Estimate this summer.
If you are interested in participating in the financing please email This e-mail address is being protected from spambots. You need JavaScript enabled to view it