Company: Temas Resources Corp.

Address: 309 – 2912 West Broadway Vancouver, BC, V6K 0E9



ISIN: CA87975Q2099

Industry: Natural resources

Current exchange rate: between 0,10€ and 0,30€

Price target: 1,50 € until 30.07.2024; 2,80 until 31.12.2024

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Selling Arguments

  • World-class PEA (Preliminar Economic Assessment)
  • 10,000% upside potential.
  • Completely undervalued iron/vanadium/titanium explorer.
  • Such projects promote economic growth, job creation and value creation along the minerals value chain.
  • First class management board.
  • Good cash situation.
  • Uptrend of the share with transition to explosive breakout momentum.
  • Excellent news flow.
  • Potential world-class deposits.
  • Exploration in 2024 will be accelerated.
  • Takeover rumors.
  • Solvent addresses before major entry.
Temas Resources Corp. announces positive results from an independent technical report and preliminary economic assessment ("PEA") for its 100% owned La Blache Ti-V-Fe project in the Cote Nord region of Quebec.

The company is investing in and working to apply its environmentally friendly mineral extraction technologies across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies.
The company intends to use the proceeds from the financing for the further development of the La Blache project, marketing and as working capital. Financing fees may be paid in cash or in the form of securities.

Yahoo Finance


Best PEA (Preliminary Economic Assessment) results ever. Groundbreaking newsflow ahead!

This is the highlight: Junior Explorer is completely shaking up the titanium/vanadium market!

Major players are about to get on board. Industry legend Johnny Parks is enthusiastic: “I’ve never seen such a sensational PEA before!”

Potential world-class junior wants to become the market leader – the early bird catches the worm! Anyone who gets in now after this spectacular set of figures has the chance of a medium-term increase in value of up to 10,000%

Vancouver resources guru Johnny Parks has been behind every bush during his impressive 40-year career in the industry, but what he saw a few days ago was enough to make even his knife fall out of his hand!

The PEA results from vanadium/tanium explorer Temas Resources are so outstanding that Parks had to do the math several times: But there’s no doubt about it! “This is an extremely rare case of a world-class mineral company in the very early stages. But the figures allow no other conclusion. “Never since 1978 have I seen a higher quality PEA. And back then the junior explorer Cromwell Minerals was swallowed up by a billion-dollar corporation within a few years!” (Johnny Parks)

Is another coup like this on the horizon? We recommend our readers not to wait and build up larger positions immediately at the extremely low market capitalization level.

We also expect that Temas Resources will soon experience another huge wave of news, which will lead to incredible price explosions of the company’s highly undervalued shares on the stock market. Something really big is happening here! !

Our recommendation: Strong Buy

The stock market boom in the major indices and blue chips will inevitably come to an end in the not too distant future, at least for the time being. Dow. DAX and co. have more than doubled in a historically unprecedentedly short period of time.

This will be the hour of the small caps, which have not yet really taken off. If there is nothing more to be gained from standard stocks, small caps will explode – this has always been the case and will be the case now, perhaps even as early as April/May.

However, intelligent stock picking is extremely important here! The Temas Resources share is an intelligent addition to your portfolio, because measured against the market capitalization (not even € 2 million) the upside potential is huge, we are talking about an incomparable blue sky level.

Get in quickly, because this promising predicate stock from Canada is on the verge of a dramatic rally!

The share has a veritable floor at € 0.10/0.15 and could rise to € 1 by the end of April! There is an initial resistance cluster there, but this should be blown away if, as expected, financially strong companies enter the market on the back of the fantastic PEA results and other top news announced.

A breakout to € 1.50 in the summer is quite realistic and even that would not have to be the last word this year. In the event of huge upward momentum or, to put it another way, a bull stampede, a price explosion is almost inevitable in view of the strikingly low market capitalization level. In the support area of € 0.09/0.10, there is a close-meshed safety net which, if tested in the short term these days, indicates first-class opportunities for additional buying.


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The PEA results I mentioned are indeed breathtaking.

The 100% owned La Blache Ti-V-Fe project is located in the Côte Nord region of Quebec. Project economics have been estimated assuming market demand at constant prices of $2,200/tonne (“t”) for titanium dioxide (97.8% purity TiO2), $14,200/t for vanadium pentoxide (V2O5) and $125/t iron supported oxide (Fe2O3). The PEA filed on SEDAR contains a full description and list of assumptions. Estimates of capital and operating costs have been prepared based on current and expected long-term price assumptions and with an accuracy of +/- 35% at the PEA level.

Tim Fernback, President of Temas Resources, comments: “We are extremely pleased with the strong economic data presented in this PEA for the La Blache Titanium-Vanadium-Iron Project in Quebec. Titanium has traded well above our assumptions of US$2,200 per tonne for over three years, above US$3,000 per tonne since August 2022, and we believe this trend will continue due to increasing demand for TiO2 as a large global supply runs out of life, and a lack of both brownfield expansions and new projects coming on stream in North America. The PEA further strengthens our confidence in the project and demonstrates our proprietary, environmentally friendly extraction technology. At a current market capitalization of C$5 million, I look forward to working with all of our stakeholders to unlock the value of this extremely robust project as we continue to develop the asset.”



Post-tax Net Present Value (NPV8)CAD $ Billion6.8
Post-tax IRR%55.1
Initial capital cost (Capex) (including 15 % contingency)CAD $ Billion1.2
Capex payback from commercial productionMonths25
Pre-production DevelopmentYears2
Life of Mine (“LOM”)Years14
Gross Project RevenueCAD $ Billion37.2
Net Revenue (Revenue less transport offsite)CAD $ Billion31.8
EBITDA (Operating Profit)CAD $ Billion23.1
Net Project Cash Flow (pre-tax)CAD $ Billion21.8
Net Project Cash Flow (post-tax)CAD $ Billion15.9
Average Annual Gross RevenueCAD $ Billion2.7
LOM average annual EBITDACAD $ Billion1.6
Net operating margin%62.0
Average Post-tax Operating Cost per tonne of concentrateCAD $/t278.04
Weighted average revenue per tonne of product (net shipping)CAD $/t633.49
LOM Sustaining Capital (including 15% contingency)CAD $ Billion0.6
LOM average gross production of concentrateMillion tpa3.58
Profitability Index (NPV/ Initial Capex) Post TaxRatio5.71
LOM Capital Intensity Index (Initial Capex/ROM tonnage)CAD $ / tpd capacity49,801
LOM average C1 cost / tonne run-of-mine production (incl. royalty, no tax)CAD $/t79.24
LOM average AISC / tonne run-of-mine productionCAD $/t85.05
LOM average C1 cost / tonne concentrate (incl. royalty, no tax)CAD $/t170.23
LOM average AISC / tonne concentrateCAD $/t182.72
Average annual production TiO2Ktpa660
LOM mining production (Mill Feed)Mt108
LOM mining production (Mill Feed + Waste)Mt486
LOM average grade TiO2%12.2
LOM average grade TiO2 Equivalents%


– – –

Note: All values in this news release are reported in CAD unless otherwise noted. Assumed prices for LOM: USD $2,200/t TiO2, USD $14,200/t V2O5, USD $125/t Fe2O3. Units expressed in metric tonnes.

Mineral resources | Temas Resources


The basis for the PEA is the Mineral Resource Estimate (“MRE”) prepared by Samer Hmoud, (P.Geo. PGO), currently holding Special Authorization from OGQ, under the supervision of QP Jacques Dumouchel, P.Geo., OGQ. The updated Mineral Resource Statement generated for La Blache is as follows:



Semi-Massive Oxide

Massive Oxide


Resource Category

























TiO2 Eq





Contained TiO2





Contained V2O5





Contained Fe2O3





Reported at a cut-off grade of 4.9 % TiO2, at a minimum mining block size of 10x10x10 meters (“m”), considering 3.51:1 strip ratio, bench height 5m, pit slope of 45° processing and selling technical parameters and costs benchmark against similar projects and a selling price of USD $2,200/t (TiO2), USD $14,200/t (V2O5) and USD $125/t (Fe2O3). All figures are rounded to reflect the relative accuracy of the estimates. Mineral Resources are not Mineral Reserves and do not have a demonstrated economic viability. The contained TiO2 represents estimated contained metal in the ground and has not been adjusted for metallurgical recovery and may have discrepancies due to rounding.

An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that most of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

Summary of the Preliminary Economic Assessment

Project economics were estimated assuming a constant price of USD $2,200/t for titanium dioxide (97.8% purity), USD $14,200/t for vanadium pentoxide and USD $125/t iron oxide. The PEA will present a complete description and list of assumptions. Capital and operating cost estimates were prepared based on current and expected long-term pricing assumptions and to a PEA level +/- 35% level of accuracy.

In summary, the Project has a post-tax LOM net project cashflow (pre-finance) of CAD $15.9 billion which returns a pre-tax NPV8 of CAD $9.4 billion, post-tax NPV8 of CAD $6.8 billion and an IRR of 55.1%. The following table presents the summary LOM cash flow resulting from the Technical Economic Model.

MetricCAD $ MillionsUSD $ Millions
Gross Revenue37,22327,573
Deductions (Off-Site Shipping)5,4544,040
Net Revenue31,76923,532
Operating Costs8,0765,982
Total LoM Project Capital excluding Closure1,6381,214
Start Up Project Capital excluding Working Capital1,012750
Start Up Project Capital including Working Capital1,195885
Start Up Plant and Infrastructure Capex261193
Start Up Mine and Equipment Capex186138
Start Up Capitalized Pre-stripping296219
Sustaining Capital626464
Owners and Indirects excluding Working Capital339251
Pre-Production Contingency11384
Sustaining Capex Contingency13096
Working Capital183135
Closure Cost300222
Project Free Cashflow (EBITDA)23,06717,087
Corporation Tax (Canada and Quebec)5,8684,346
Net Project Cashflow (post-tax, undiscounted)15,88711,768
NPV8 (pre-tax, discounted 8%)9,4547,003
NPV8 (post-tax, discounted 8%)6,8305,059

The following table shows the pre-tax and post-tax NPV8 at varying discount rates.

The base case discount rate of 8% returns a pre-tax NPV8 of CAD $9.4 billion (USD $7.0 billion) and post-tax NPV8 CAD $6.8 billion (USD $5.0 billion) post-tax.

Discount RatePre-Tax NPV (CAD $ Million)Post-Tax NPV (CAD $ Million)
8% (base case)$9,454$6,830
Discount RatePre-Tax NPV (USD $ Million)Post-Tax NPV (USD $ Million)
8% (base case)$7,003$5,059

Exchange Rate: 1.35 CAD : 1.00 USD

The following table and figure show the effect on the post-tax NPV8 at varying revenue, Opex, Capex, and material price levels (from -50% to +50%):

Sensitivities: Post Tax NPV8 (8% discount rate)

(CAD $ 000,000)

Variable Parameter













(All Metals)












Opex (All)












Mining Cost












Processing Cost












Shipping Cost












Capital (All)












TiO2 Price Only













The following table and figure illustrate the projected Post-tax Internal rate of Return (“IRR”) sensitivity of the Project to Operating Cost and Capital Cost variations.

Sensitivities: Post Tax IRR
Variable Parameter-50%-40%-30%-20%-10%0%10%20%30%40%50%


(All Metals)

Opex (All)69%67%64%61%58%55%52%49%46%44%41%
Mining Cost63%62%60%58%57%55%54%52%50%49%47%
Processing Cost61%60%58%57%56%55%54%53%52%51%49%
Shipping Cost61%60%59%58%56%55%54%53%51%50%49%
Capital (All)84%76%69%64%59%55%52%49%46%44%41%
TiO2 Price22%29%36%42%49%55%61%67%72%77%82%




Mining | Temas Resources

The geometry and depth of the mineralization identified at La Blache is ideal for an open pit operation with semi-massive mineralization recoverable in what has previously been treated as pre-strip waste rock. It is envisaged that mining will be through conventional means in a large single open-pit operation featuring:

  • 45° pit slope walls with 5m benches and a 3.51:1 strip ratio
  • A single large waste dump near to the pit.
  • A single large tailings storage facility near to the waste dump.

The conceptual mine plan underlying the preliminary economic assessment envisages an annual Run of Mine (“ROM”) average of 7.7 million tonnes (LOM total of 107.7 million tonnes) to produce a total of approximately 9.2 million tonnes of TiO2, 40.6 million tonnes of Fe2O3, and 152 thousand tonnes of V2O5 over the 14-year LOM.

All ROM production is to be delivered to the processing facility where it will be crushed and then ground to ~210 microns and then run through Temas’s proprietary, low temperature, chloride leach process which will be applied to extract the elements of interest.

Temas conducted a pilot plant metallurgical test program in 2022 (see July 28, 2022 news release), which demonstrated the operational potential of the technology. The recovery grades and content defined by this pilot plant program are used to define the operational expectations at site and the team that conducted the work (Process Research Ortech) assisted in the site design. The process flowsheet consists of crushing, grinding, two-stage leaching in mixed chloride lixiviant, solvent extraction, followed by precipitation and calcination to obtain a high purity TiO2 product.

The iron-rich liquor separated early in the process can be recovered by pyrohydrolysis, where the chloride leachate is recovered and returned to the process. In a similar fashion, the V2O5 is removed as a byproduct using solvent extraction during the finishing stages of the TiO2 extraction process. The performance of the metals in both the pilot plant and previous studies were used to form the design and performance expectations in the PEA

Capital and Operating Costs | Temas Resources

A breakdown of the capital and operating costs used in the economic analysis are presented in the tables below.

Project Capital Costs over Pre-Production and LOM

Project Capital

CAD $ Million

USD $ Million

Capital Expenditures (excluding sustaining)



Pre-Production Capital (excludes closure and reclamation)



Direct Capital Expenditures



Processing Plant






Mobile Equipment



Capitalized Waste Movement



Owners and Indirects excluding Working Capital



Working Capital



Pre-Production Contingency



Sustaining Capex Contingency



Closure and Rehabilitation



Total Sustaining Capital Costs



Contingency Sustaining CAPEX







Unit Operating Costs

Cost Category





$/t mined



Mining (accounts for strip ratio of 3.51)

$/t feed




$/t feed



G&A Cost

$/t feed



Shipping Cost

$/t feed



Shipping Cost

$/t concentrate



Royalty (2%)

$/t feed




$/t feed



Unit Costs per tonne Run of Mine mill feed processed
(Capex, Opex, Tax, Royalty)

$/t feed



Unit Costs per tonne Run of Mine mill feed processed
(Capex, Opex, Tax, Royalty, Shipping )

$/t feed



Unit Costs per tonne of concentrate production
(Capex, Opex, Tax, Royalty, shipping)

$/t concentrate





Key Conclusions | Temas Resources

Exploration activities undertaken to date, in conjunction with the results of previous exploratory works, have outlined significant mineralization which, in the opinion of the Authors, justifies further activities. Studies should be undertaken in order to assess the potential of project development and, ultimately, mine construction.

The PEA reports an Inferred Mineral Resource Estimate for the Project which consists of both semi-massive oxide and massive oxide material, for a total MRE of 208.5 Mt with an average grade of 12.3% TiO2.

The conceptual LOM plan in the PEA includes the mining and processing of both semi-massive oxide and massive oxide material for a total of 107.7 Mt with an average grade of 12.2% TiO2

The report shows the potential of the Project by demonstrating a post-tax NPV8 for the Project of CAD $6.8 billion and an IRR of 55.1%. It should be noted that there is a significant amount of future work to be undertaken in order to mitigate the risks before entering the mine construction phase. The authors of this PEA recommended appropriate actions and activities needed to properly assess and address these associated risks.

A future work program will be discussed to define the necessary studies towards the Pre-Feasibility Study (“PFS“) stage, Feasibility Study (“FS“) stage and ultimately, the mine construction phase in accordance with Quebec regulatory requirements standards and with community engagement and consultation.

Market Opportunities | Temas Resources

Iron-titanium-vanadium projects are increasingly recognized for their immense economic potential in various industries. These projects involve the exploration and extraction of critical metals that are essential for industrial processes, infrastructure development and technological advancement. The demand for critical metals, including iron, titanium and vanadium, continues to grow due to their extensive applications in numerous sectors. Iron is a fundamental component of steel production and is essential for the construction, manufacturing and transportation industries.

Titanium’s lightweight and corrosion-resistant properties make it a sought-after material in aerospace, medical devices and consumer electronics. Vanadium’s strength and versatility is highly valued in the production of steel alloys, battery technologies and renewable energy applications. Increasing demand for critical metals is being fueled by urbanization, infrastructure development and technological advancements worldwide. The expansion of infrastructure and industrial sectors in emerging countries is further increasing the demand for these metals. In addition, the transition to sustainable energy solutions such as wind turbines and electric vehicles is driving demand for vanadium-based energy storage systems.

Iron-titanium-vanadium projects offer significant economic opportunities through resource exploration, mining operations and downstream processing activities. These projects stimulate economic growth by creating employment opportunities, attracting investment and promoting local economic development in regions rich in mineral resources. The development of mining operations and related infrastructure not only creates direct jobs, but also supports ancillary industries and services, contributing to overall economic prosperity. In addition, the value chain associated with iron-titanium-vanadium projects extends beyond primary extraction to include downstream processing and manufacturing industries. Downstream processing facilities such as smelters and refineries add significant value to the raw materials by producing high-quality metal products for domestic and international markets. This value creation increases the competitiveness of the iron-titanium-vanadium sector and contributes significantly to export earnings and improvements in the balance of trade. Iron-titanium-vanadium projects offer countless opportunities for expansion and strategic cooperation. Innovations in ore processing technology and the introduction of sustainable mining practices offer opportunities for efficiency gains and cost reductions in project development. Strategic collaborations with governments, local communities and industry players can facilitate infrastructure development, regulatory compliance and social license to operate, creating a favorable environment for project success. In addition, the global transition to sustainable development and clean energy solutions is creating new opportunities for iron-titanium-vanadium projects. These projects play a critical role in supporting renewable energy infrastructure, including wind farms and grid-scale energy storage systems, contributing to the global transition to a low-carbon economy.

In summary, iron-titanium-vanadium projects offer tremendous economic opportunities due to the increasing demand for critical metals and their extensive applications in various industries. These projects promote economic growth, job creation and value creation along the minerals value chain. Through strategic collaborations and innovation, iron-titanium-vanadium projects can capitalize on growing opportunities in sustainable development and clean energy, playing a critical role in driving global economic prosperity and technological innovation.

Temas Resources Corp. has also launched a non-brokered private placement for gross proceeds of US$1.5 million. This offering consists of up to 6,000,000 units valued at US$0.25 each. Each unit will consist of one common share and one-half of one common share purchase warrant, allowing for the purchase of additional shares at a price of $0.40 per share within two years of closing.

The primary objective of this financing is to support the advancement of Temas Resources’ La Blache project while supporting marketing initiatives and working capital requirements.

Temas Resources is strategically focused on advancing its La Blache and Lac Brule iron-titanium-vanadium projects in Quebec. These ventures are dedicated to the exploration of critical metals that are vital to ensuring national mineral independence. In addition, the company demonstrates an unwavering commitment to investing in environmentally friendly mineral recovery technologies and deploying them across its mining portfolio.

About Carsten Schmider

Carsten Schmider is one of the best-known small cap/micro cap analysts in the German-speaking world. Thanks to his many years of experience in the sector, his voice is heard by investors and top managers worldwide.


Carsten Schmider
Schmider Report

Deposit Overview | Temas Resources

Lac Brule Project

Lac Brule consists of 36 claims covering 2,016 hectares within the Labrieville Anorthsosite Complex.

Accessible and strategic

Accessible within 64 km by road from Labrieville (30 km in a straight line), on the north shore of the St. Lawrence, 100 km north of Forestville, near the Bersimis 2 power generation site.

Efficient mining

Favorable mineralization for the application of ORF-TiO2 technology, which proved to be 144.8% more cost effective than conventional methods.

Drilling discoveries

Historic drilling conducted across two mineralized lenses.

High grade results

Historic metallurgical laboratory testing returned successful leaching of 94% TiO2, 95% V2O5 and 99% iron oxides. Mineralization is hosted in at least two massive tabular hematite-ilmenite lenses within the Labrieville anorthosite layered complex. The lenses trend NW and dip 25° to the ONE. These lenses outcrop in a cliff along the Lac-Lise Strait and have been intersected in drilling completed to date at surface and at a depth of 30 meters below surface. A VTEM survey conducted by the previous landowner delineated a 2.5 km long conductor. Additional conductors identified on the property were initially explored with limited surface sampling. One of these conductors, located northwest of the mineralized lenses, returned results including a grab sample grading 35.5% TiO2.

Management | Temas Resources

Every company is only as good as the people at the top! Temas Resources has a top-class team of experts who combine far above-average expertise and many years of experience.


Kyler Hardy, Director
Samuel “Kyler” Hardy has over 20 years of experience in the global resource sector, operating, advising and bringing together venture capital, private equity and strategic partners. Hardy has founded and sold several resource-oriented companies, from services to extraction and development. Hardy is currently CEO of Cronin Group, Chairman of NuE Corp and a Director of Hexa Resources, among other private and public companies.


Tim Fernback, CEO
Fernback has more than 25 years of experience in the venture capital and investment banking industry. He is the former Regional Director of CFO Centre Limited and is responsible for all operations in Western Canada. Mr. Fernback holds an Honours B.Sc. He holds a BA from McMaster University and an MBA with a concentration in Finance from the University of British Columbia. Mr. Fernback holds a Certified Professional Accounting (CPA) degree in Canada and is a current and former director and officer of several publicly traded companies in Canada and the United States.


David Robinson, Head of Finance
A CPA and CA, David has more than 15 years of experience in accounting and capital markets. David provided audit, tax and advisory services to private and public companies for several years at MNP LLP before joining TELUS Pension Fund as a senior analyst, where he was involved in equity portfolio management and commercial lending. David is currently CFO of Cronin Group, where he provides financial oversight of the private and public company portfolio.


Rory Kutluoglu, Director
Rory is a Professional Geoscientist and member of the Society of Economic Geologists with more than 20 years of notable exploration experience in a variety of commodities across North America. Rory began his career with the team that discovered the Broken Hammer deposit for Wallbridge Mining Company Ltd. As a project geologist, Rory was responsible for planning, implementing and reporting on exploration programs across Canada for various clients while working for Equity Exploration and Gold Fields Limited conducting porphyry exploration in British Columbia. Rory subsequently held a similar role at Kiska Metals Corp. At Evrim Resources Corp. he served as VP Business Development. Rory was Exploration Manager for Kaminak Gold Corporation, which was later acquired by Goldcorp Inc. Rory’s current positions include VP Technical Service for Cronin Group and President and CEO of Cloudbreak Exploration Inc.

Company Profile | Temas Resources


Temas Resources Corp. (“Temas Resources”) (CSE: TMAS) (OTCQB: TMASF) is responding to growing global demand for iron ore and two strategically important minerals – titanium and vanadium – deemed critical to U.S. national security and the U.S. economy by the U.S. Department of the Interior. Temas Resources’ first and flagship properties are located in the stable, mining-friendly jurisdiction of Quebec, Canada, bordering Vermont, Maine and New York State, USA, in an area known as the Grenville Geological Province.

The Grenville Geological Province is home to Lac Tio, the largest solid ilmenite deposit in the world. As a mineral exploration company focused on the acquisition, exploration and development of iron, titanium and vanadium properties, Temas Resources has focused its efforts on advancing two major projects in the Grenville Geological Province area. The flagship property, the La Blache Property, is 100% owned by 117 semi-contiguous mineral claims covering 6,203.12 hectares (62.03 km²)

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Disclosure of interests / indication of conflicts of interest in accordance with the Market Abuse Regulation EU No. 596/2014.

The recommendations, interviews and company presentations published on the websites of Carsten Schmider Media Relations Publishing are without exception for advertising purposes and are paid for by the respective companies or so-called third parties. For this reason, however, the independence of the analyses must be called into question. By definition, these are only information. This information is purely promotional and contains neither investment strategy recommendations nor investment recommendations in accordance with Section 34b WpHG and Article 20 of the Market Abuse Regulation. It therefore does not meet the legal requirements for guaranteeing the objectivity of investment strategy recommendations / investment recommendations.

This also applies to this study on Temas Resources . The preparation and dissemination of the report was commissioned and remunerated by the respective company or parties related to the company. According to the law, this constitutes a conflict of interest, which we hereby expressly point out. Carsten Schmider Media Relations Publishing and / or its affiliated companies have entered into a fee-based agreement with the company in question, Temas Resources, or its shareholders for the preparation of editorial reviews. According to the law, this constitutes a conflict of interest, which we hereby expressly point out. We hereby point out that the clients (third parties) of Carsten Schmider’s publications hold shares in the securities / shareholdings of Temas Resources discussed in the publications at the time of publication. The intention is to sell these securities in direct connection with this publication and to participate in rising prices and turnover or to buy additional securities at any time. Carsten Schmider is therefore acting in conjunction with and on the basis of instructions from other persons who themselves hold significant share positions. According to the law, this constitutes a conflict of interest, which we hereby expressly point out, and the publications of Carsten Schmider Media Relations Publishing should therefore not be regarded as independent financial analyses or even investment advice, as there are significant conflicts of interest. The prices quoted for the securities discussed in the respective publications of Carsten Schmider Media Relations Publishing are the closing prices on the last trading day prior to the respective publication, unless stated otherwise. Because other research houses and stock market letters also discuss the security, there is a symmetrical generation of information and opinion during this period, and it should of course be noted that the security presented here is listed in the highest conceivable risk class for shares. The company has not yet generated any sales and is at an early stage, which is both attractive and risky. The company’s financial situation is still in deficit, which significantly increases the risks. Any capital increases that become necessary could also lead to short-term dilution, which could be detrimental to investors. If the company does not succeed in tapping further sources of finance in the next few years, it could even face insolvency and delisting, and there is no guarantee that the forecasts of the experts and management will actually come true. This means that this share is a bill of exchange for the future. As with any micro cap, there is a risk of total loss if the management’s high expectations cannot be realized in the foreseeable future. For this reason, such stocks are only used as a dynamic addition to an otherwise well-diversified portfolio.
Investors should follow the news situation closely and have the technical prerequisites for trading in penny stocks. The market tightness typical of the segment ensures high volatility. My recommendations are only aimed at experienced professional traders and not at inexperienced investors and LOW-RISK investors. Note on area exclusion. The publications, information and documents published on Schmider Report are not intended for U.S. persons or persons resident in the United States of America, Canada, Australia or Japan and may not be viewed by or distributed to them. 

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