EDM Resources secures $58m gypsum offtake deal

EDM Resources for Canadian Exploration and Mining Company has signed a 58 million dollar gypsum supply agreement ($ 79.39 million) with Gypsum Canadian Gypsum and the Gypsum wallboard produced from the Scottia mine in Nova Scotia, Canada.
The agreement, signed on June 3, 2025, will witness that Gypsum OffTaker will provide a prior payment of $ 250,000 for an exclusive five -year exclusive on the gypsum produced at the Scotia Mine.
This batch is not guaranteed and not refundable if production does not start before December 31, 2026.
Offtake represents half the total metal reserve and is based on expected folders over a period of ten years.
The Scotia mine contains a specific metal reserve of NI 43-101 from 5.1 million tons of gypsum, which includes 1530,000 tons of metal reserves that have been proven with gypsum degree 92.8 %.
Possible metal reserves are estimated at about 3.65 million tons with a degree of 91.4 %, according to the 2021 study (PFS).
PFS referred to the expected gypsum revenues of $ 43.9 million based on 2021 $ 8.6/tons.
Gypsum is widely used in construction and agricultural industries, among other things. The average price of raw gypsum was $ 13 in 2024, with an expected increase due to the high demand in North America.
Gypsum Offtaker will pay for trucks that were delivered on the pocket in the Scotia mine on the basis of a contract or payment.
“We are very happy to secure the chance of the third revenue current of the Scotia Mine, which in addition to the expected revenue flows of the zinc, said the head of the EDM resources and CEO Mark Hawood.
“By implementing the new OffTAKE agreement, the Scotia mine secures market price payments for at least 2.5 million tons of gypsum.”
Resources Edm is currently in exploration and evaluation and has not achieved revenues from operations.
The company’s ability to implement its goals depend on its ability to secure additional financing.
The revenues of selling gypsum depends on the OffTAKE agreement on the start of production in the Scotia mine, with various risks and doubts.
Edm Resources was created to secure the Gypsum offake deal at a value of $ 58 million “originally and published by Mining Technology, a brand owned by Globaldata.
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2025-06-10 13:32:00