First Tellurium says stock is down on market sentiment

Nov 16, 2023

2023-11-16 10:50 ET – News Release


Mr. Tyrone Docherty reports


First Tellurium Corp., further to recent downward pressure on the company’s stock price, says there is no known negative news, other than general market sentiment, affecting the share price.

“Our situation has not changed,” said Tyrone Docherty, First Tellurium president and chief executive officer. “We are awaiting a significant amount of information from the Deer Horn property, which we believe will be positive, including interpretation of both the recent IP [induced polarization] survey and property-wide sampling conducted over the summer and fall.”

Mr. Docherty added, “The general news and trends around tellurium, and critical metals in general, remains bullish for both the near and long term.”

Mr. Docherty pointed to a Nov. 14, 2023, article from Market Open Australia, titled “Tellurium Comes First,” which highlighted First Tellurium and described the company as “… the lone explorer with a tellurium focus.” A key theme was the metal’s overall scarcity and growing demand, particularly for solar panels, new lithium-tellurium batteries and thermoelectric technology.

The article quoted the United States Department of Energy’s recent 2023 critical minerals assessment regarding tellurium supply and demand: “Without significant expansion of the tellurium supply capacity,” the DOE stated, “shortages of Te could occur in the short term (2025) and are likely in the medium term (2025 to 2035).”

The article also stated: “Tellurium, one of the rarest metals on earth, is facing a shortage that could soon become scarce. The refrigeration industry is in a buying frenzy, causing a strain on supplies of tellurium needed for thermo-electrics.”

“We are well aware of the advancements in, and potential for, thermoelectric applications,” said Mr. Docherty. “It’s why we purchased controlling interest in a U.S.-based, thermoelectric-focused research and development company, which we announced in May of this year.”

Faith in long-term demand for tellurium was reinforced by Market Open Australia, noting Rio Tinto’s decision to open a tellurium plant at its Kennecott mine in Utah. The facility will supply tellurium to First Solar for the manufacture of thin-film, cadmium-telluride solar panels.

“Tellurium is considered a critical metal in both Canada and the United States,” said Mr. Docherty. “Being the only junior focused on tellurium exploration, it comes as no surprise to us that we have a number of tellurium users in contact with us.”

First Tellurium’s 2023 exploration season at Deer Horn, now complete, was assisted by Imperial Metals at their nearby Huckleberry mine. “We’re most grateful for the support and co-operation we received from everyone at Imperial,” said Docherty. “They were fantastic to work with, and we couldn’t have completed some of our work without them.”

About First Tellurium Corp.

First Tellurium’s unique business model is to generate revenue and value through mineral discovery, project development, project generation and co-operative access to untapped mineral regions in indigenous territory with sustainable exploration.

The company’s polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with indigenous peoples, NGOs (non-government organiations), governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.

We seek Safe Harbor.

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