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IW Business Bulletin – March 3, 2022

Oats at Harvest. Photo by Sask Oats.

AGT Food and Ingredients announces a new oat processing facility

On Mar. 3, Regina’s AGT Food and Ingredients announced the company will build a new value-added oat milling facility at Aberdeen, Sask. The facility will focus on production of “oat groats, flours and other milled oat products, for plant-based human food, specialty ingredient and animal feed products.”

“We are very excited about this new venture for AGT. Oats are very complementary to pulses in their amino acid profile, which increases their digestibility and gives them highly desirable characteristics for extruded products like snacks and pasta, bakery applications and the beverage industry. Oats are a major cereal crop for Saskatchewan with significant production levels, and AGT is already exporting thousands of tonnes of oats each year. Combined with our expertise in value-added milling and the production of high-quality plant-based ingredient products, we have a real advantage in creating value for our producers in this new product area,” said Murad Al-Katib, AGT’s president and CEO.

Construction will begin immediately and production is expected to begin by the end of the year. The oat facility will add production capacity to an existing AGT facility at Aberdeen, which is 40 kilometres northeast of Saskatoon.

Nutrien sees lengthy disruption due to Russia invasion of Ukraine

In a BMO Capital Markets investor conference this week, Nutrien interim CEO Ken Seitz said that the company will increase potash production this year if it sees longer-term supply problems in Russia and Belarus. “We could probably see a prolonged, more prolonged disruption in (potash) supply out of that part of the world,” he said. With increased sanctions applied on Russia by the United States, the European Union and other countries, exports of potash are likely to be hindered. Belarus has been subject to sanctions by the U.S. and EU prior to the conflict in Ukraine, which has restricted Belarussian potash exports.

Nutrien anticipates selling as much as 14.3 million tonnes of potash in 2022.

Sask Polytech named Top Employer

Saskatchewan Polytechnic has been named a Top Employer in Saskatchewan for the sixth year in a row.

Saskatchewan’s Top Employers is an annual competition organized by the editors of Canada’s Top 100 Employers, recognizing the Saskatchewan employers that lead by offering exceptional places to work.

“Saskatchewan Polytechnic’s mission is to inspire success in every learning journey. Our employees are crucial to this success,” said Dr. Larry Rosia, Sask Polytech’s president and CEO. “Being selected as a Top Employer is a great honour and reflects the excellent work that goes into making Sask Polytech such a great place to work. The credit for this award goes to our faculty and staff. Thank you for your dedication and commitment to our students and stakeholders.”

Private and public sector employers with a head office or principal place of business located in Saskatchewan may apply to the competition.

New store coming to Humboldt

Red Apple Stores announced its new store in Humboldt will officially open on Saturday, Apr. 2. The store, located at 1715 – 8th Avenue in Humboldt, will celebrate its opening at 9 am with special offers to customers all day long.

“We are very excited to open our doors in Humboldt and add this store to our growing business,” says Clinton Wolff, President & Chief Executive Officer of Red Apple Stores. “Shoppers will be pleased with the quality, assortment, and value we have to offer. We look forward to becoming a member of the Humboldt community and offering our Customers the convenience to shop local while enjoying great value.”

Red Apple Stores have over 140 stores across Canada, serving rural communities with their general merchandise.

Foran Mining updates on McIlvenna Bay

Foran Mining announced results from its recent feasibility study (FS) at the McIlvenna Bay project in east-central Saskatchewan. Among the highlights, the probable mineral reserves total 25.7 million tonnes, with an initial 18 year reserve life with an initial capital cost of $368 million. The study anticipates an average annual production of 72.8 Mlbs CuEq (33.0 kt) over the first 15 years of mine life. By individual metal, this equates to 38.8 Mlbs of copper (17.6 kt), 63.6 Mlbs of zinc (28.9 kt), 20 koz gold and 486 koz silver.

“The completion of the FS is truly an excellent accomplishment by the entire team at Foran. It is important to be mindful that the study showcases only a snapshot in time of what our initial mine and centralized mill will look like, as we envision scaled expansions and future growth while sequencing in other deposits across the district,” says Foran CEO Dan Myerson. “As we continue to de-risk McIlvenna Bay with the ongoing advancement of the exploration decline, permitting, project financing, and our continued dynamic exploration campaign, I believe we are still in the early innings of understanding what this remarkable district has to offer. The neighbouring Flin Flon district has been operating for close to a century, and it is our vision to transform the Hanson Lake District into the next multi-decade mining camp.”

The McIlvenna Bay project is located in east-central Saskatchewan, 85 km west of Flin Flon, Man.

MAS Gold Corp. names new CFO

Vancouver-based MAS Gold Corp. announced on Mar. 3 that Karen Frisky will join the company as chief financial officer and corporate secretary. Frisky is a chartered professional accountant with 28 years of experience, including acting as controller and corporate secretary for MAS Gold since July 2021.

“Management and the Company’s Board of Directors welcomes Karen to our senior management team, and is looking forward to working with her. I have worked with Karen in the past for many years. She is a well-respected public company professional and brings with her a variety of skills that will no doubt add additional value to the Board, Management and its shareholders,” said Jim Engdahl, MAS Gold CEO.

Frisky replaces Andrew Davidson, who will remain on the MAS Gold board of directors.

MAS Gold Corp. is focused on gold exploration projects in the La Ronge Gold Belt, with four properties in the region.

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