Grid Metals, Avenir sign JVA for Falcon West Cesium in Manitoba

Shree Mishra

Tue, July 21, 2026 astatine 3:57 AM CDT 2 min read

Grid Metals has signed a definitive associated task statement (JVA) with Avenir Minerals, a subsidiary of Agnico Eagle Mines, to make the Falcon West Cesium Property successful south-eastern Manitoba, Canada.

Under the agreement, Avenir volition get an archetypal 15% involvement successful the spot and resulting associated task (JV) for C$3.75m successful cash, with Grid Metals retaining an 85% involvement and acting arsenic operator.

The statement includes an enactment for Avenir to rise its involvement to 30% pursuing either the completion of a preliminary economical appraisal oregon the adoption of a excavation plan.

The signifier 2 enactment would beryllium exercised astatine a terms acceptable astatine 40% of the property's nett contiguous value, multiplied by 15%, calculated with an 8% yearly discount rate. Both parties volition lend to task costs based connected their respective interests.

Avenir has besides secured an enactment to subscribe for up to 19.99% of Grid's issued and outstanding communal shares.

This equity enactment would beryllium disposable for 90 days, starting 15 days aft the assets estimation announcement.

A associated absorption committee volition oversee the project, with practice and voting by some Grid and Avenir successful proportionality to their interests.

Grid Metals CEO and president Robin Dunbar said: "We invited Avenir arsenic a task JV spouse and large shareholder. We spot this transaction arsenic a affirmative improvement for our shareholders and different stakeholders of Grid.

"Avenir's excavation improvement and operating expertise and fiscal spot is an endorsement of the imaginable of Falcon West, the cesium marketplace and the Grid team."

The Falcon West spot covers 124 unpatented mining claims astir 130km eastbound of Winnipeg.

The JV intends to found a assets estimation for Falcon West based connected caller drilling, and to prosecute further metallurgical and ore sorting testwork.

Pollucite from the site, typically containing 30–40% cesium oxide, is simply a cardinal feedstock for the cesium chemicals industry.

"Grid Metals, Avenir motion JVA for Falcon West Cesium successful Manitoba" was primitively created and published by Mining Technology, a GlobalData owned brand.