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Anson Advances Lithium Plant Front End Engineering & Design Study
Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce the commencement of the Front End Engineering and Design (FEED) Study at its Paradox Lithium Project (the Project) in the Paradox Basin, in Utah, USA.
Highlights:
- Worley Group Inc. has been appointed to undertake the Front End Engineering and Design Study for the proposed lithium carbonate processing plant
- Results will be incorporated into Anson’s financial model to support project financing proposals to commercial banks, export credit agencies and/or US government agencies
- Anson has appointed its own engineering team to support Worley in delivering the Study
- Sunresin’s commercially proven Direct Lithium Extraction process will be incorporated into the FEED Study through collaboration with Sunresin and its engineers
- The FEED Study is underway and is expected to be completed by Q4 2023
The FEED Study is a pivotal next step in Anson’s plans for the construction of a lithium carbonate processing plant, with a production capacity of a 13,000tpa lithium carbonate equivalent (LCE). Worley Group Inc. (Worley) has been appointed to undertake the FEED Study, which will build on the Project’s robust Definitive Feasibility Study (DFS) completed in 2022 (ASX announcement, 8 September 2022). The Feed Study is progressing and is expected to be completed in Q4 2023.
Anson has appointed its own engineering team to support Worley in the delivery of the FEED Study. Initially, the Anson and Worley teams will be co-located to maximise the effective delivery of the FEED Study’s work streams (Figure 1).
Figure 1: Picture of Combined Anson and Worley Engineering Team
Anson’s chosen Direct Lithium Extraction (DLE) process, by Sunresin New Materials Co. Ltd (Sunresin), will be incorporated into the design and engineering work, and the FEED team will work closely with Sunresin and its independently appointed design and engineering consultants in the delivery of the FEED Study.
Sunresin is the process package owner and technology provider for the proposed LCE plant at Paradox, processing raw brine into sellable product (considered as Inside Battery Limits, or ISBL), and will be responsible for the design and engineering work to applicable US standards.
Worley will provide the engineering for the supporting infrastructure and utilities for the broader site development (considered outside battery limits, or OSBL).
Anson is in process of developing a suppliers list of components and equipment required for both the ISBL and OSBL aspects of the production plant. It is focused on sourcing as much of the required equipment and components from North America as is possible, in order to maximise the opportunity to secure debt financing from government agencies, Export Credit Agencies and the United States Department of Energy - with whom the Company is in frequent consultation.
Click here for the full ASX Release
This article includes content from Anson Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Anson Resources: Developing a Near-Term Clean Energy Project in Utah
Anson Resources (ASX:ASN) focuses on the resources necessary to meet the energy demands of the future. The company’s flagship project, the Paradox Lithium Project, has the potential to become a world-class lithium producer and is located near Tesla’s massively productive gigafactory in the United States. Additional projects target nickel, copper, and uranium.
The company's flagship Paradox Project is located in Utah, a mining-friendly and politically stable jurisdiction. The asset holds significant lithium brine deposits, and the company has identified an extraction method that has delivered an extraction rate of 91.5 percent. This technique calls for passing the lithium through the resin, which captures the resin, and can then be separated from the resin with water. From that state, it can be processed into lithium carbonate. The company is currently undertaking a major JORC resource expansion drilling program, the results of which will feed into a Detailed Feasibility Study being carried out by global engineering firm, Worley.
Company Highlights
- Anson Resources is focused on developing its flagship project, the Paradox Lithium Project, into a significant lithium producing operation.
- The company is currently undertaking a major JORC Resource expansion program at Paradox, which will form part of a Detailed Feasibility Study which is being undertaken by leading global engineering consultants, Worley.
- The Paradox Project contains multiple lithium brine targets, and the company has identified an extraction method that produces an impressive return rate of 91.5 percent. Also, the project’s Direct Lithium Extraction (DLE) method is expected to deliver significant ESG benefits
- In addition, the project’s brine also contains bromine, creating a valuable second potential revenue stream for the asset.
- Anson Resources’ other projects target nickel, copper, vanadium and uranium. The company aims to supply energy markets with the mineral resources necessary to power the future.
- The company has an experienced management team with a mix of technical, corporate and commercial skills driving the project towards its ambitious goals.
This Anson Resources company profile is part of a paid investor education campaign.*
Australian Organisations Make Case for Natural Capital Accounting in Resource Sector
Two organisations have collaborated on the release of a new suite of resources geared at helping companies in the Australian mining industry implement natural capital accounting (NCA).
The Cooperative Research Centre for Transformations in Mining Economies (CRC TiME) and CSIRO, Australia’s national science agency, announced the news in a press release on Monday (July 15).
NCA is a means of “accounting for impacts on nature over the life of projects.” Mining companies of all stages are increasingly being asked to show how they affect the environment and mitigate their impact accordingly.
Funding for the suite of resources came from the Commonwealth Department of Climate Change, Energy, the Environment and Water (DCCEEW), the initiator of the overarching CRC TiME NCA project.
Bryan Maybee, program leader at CRC TiME, said that risks to economic stability associated with changing climates and declining biodiversity “have generated calls for greater action from the private sector.”
“The prominence of NCA and natural capital assessment in responding to these calls for improved disclosure has accelerated considerably over the last decade,” continued Maybee, who is also associate professor of minerals and energy economics at Curtin University in Perth. “This has seen the emergence of numerous initiatives, frameworks, metrics and targets, all aimed at improving the consistency and comparability of reporting in relation to natural capital.”
Dr. Anthony O’Grady, a CRC TiME project manager and senior principal research scientist in CSIRO's natural capital group, described NCA as a key tool for understanding how the environment and economy interact.
He added that by improving disclosure and sustainability in mining companies, the industry can do a better job of showing environmental accountability — a characteristic many investors would like to see.
The suite of resources includes a business case that analyses the benefits of adopting NCA, along with an indicative roadmap. It also provides guidance on concepts, methods and reporting structures for NCA and risk assessment.
A comprehensive case study report can also be found in the suite. It presents synopses of pilot case studies testing the System of Environmental Economic Accounting-Ecosystem Accounting framework’s applicability in the Australian mining sector. These case studies assisted in the development of the business case and guidance materials.
“These reports have analyzed existing data to facilitate the development of the consistent approach that is needed across the mining sector,” Maybee said. Tests and demonstrations on the potential use of NCA information for strategic forecasting purposes in the mining sector are included in the report as well.
Other CRC TiME partners include Alcoa (NYSE:AA), BHP (ASX:BHP,LSE:BHP,NYSE:BHP), Curtin University, Hanson Construction Materials, Murdoch University, Syrinx Environmental and the University of South Australia.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Investor Presentation - July 2024
Copper-Gold-Base Metals-Uranium Ti-Tree Shear Project Gascoyne Region, WA
Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to present its investor presentation.
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
$1.66M Raised to Accelerate Exploration at Ti-Tree
Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to announce that it has received commitments from institutional, professional and sophisticated investors to raise $1,667,500 (Placement).
- Augustus Minerals has received commitments to raise over $1.66m via a Placement.
- Proceeds from the capital raising will fund:
- Deep diamond drilling at the Minnie Springs Cu-Mo porphyry (supported by EIS drilling grant)
- VTEM (Versatile Time Domain Electromagnetic) Helicopter program testing major Cu-Ni-PGE and Uranium targets
- Expanded soil and rock chip sampling program to progress new high-grade Gold and Copper targets to drill ready status
- Commence a program of extensive field work over the large 4-kilometer-long Supergene Carbonate hosted Munaballya Well Uranium Target.
- Exploration works are continuing over various targets along the highly prospective Ti- Tree Shear with drilling to commence this quarter.
Under the placement, AUG will issue up to 23,821,430 fully paid ordinary shares (Shares) at an issue price of $0.07 per Share. The Placement includes one (1) attaching unlisted option (Options) for every two (2) Placement Shares. The Options will be exercisable at $0.12 each expiring 2 years after the date of issue.
Funds raised through the Placement will be used for the following:
- Deep Diamond drilling at the very large Minnie Springs Cu-Mo Porphyry system to test the core of the system for high-grade Copper Sulphide mineralisation.
- The initial 2 x 700m deep holes planned for Q3, 2024 is with assistance from the co- funded Government EIS drilling grant of up to $110,000 as announced 2 May 2024.
- Success in the first two planned holes will justify additional diamond drilling to further expand the Minne Springs Porphyry system
- A VTEM airborne geophysics program testing the Cu-Ni-PGE potential at the Money Intrusion, the Coo Creek Broken Hill Style target and the Munaballya Well uranium U targets.
- An expanded soils/rock chip program to progress newly identified rock chip prospects to drill ready status and continue the exploration over as yet untested areas.
- Working capital and costs of the Placement.
GM Exploration Commented:
“The Augustus Board are very pleased with the overwhelming support for the placement and thank existing and new sophisticated investors for their support that positions the Company to advance exploration at the Ti-Tree project. The heavily oversubscribed placement demonstrates the strong interest in the EIS Supported drill program at the Minnie Springs Cu-Mo Porphyry system as well as continued exploration at the recently discovered Tiberius, Claudius, Justinian and South Snowy gold-copper-gold-silver prospects. The next six months will be an exciting period of exploration activity for the Company and the team are looking forward to the results”.
The Placement Shares will be issued utilising the Company’s existing Listing Rule 7.1 and 7.1A capacity. The Company will seek shareholder approval for the issue of Options.
Evolution Capital Pty Ltd (Evolution) and Morgans Corporate Limited (Morgans) acted as joint lead managers to the Placement.
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
$8m Queensland State Government Funding
Queensland Pacific Metals Limited (ASX:QPM) (“QPM” or “the Company”) is pleased to announce the receipt of an $8m grant from the Queensland State Government.
Highlights
- Queensland Government will make available up to $8m in the form of a grant to prepare the Townsville Energy Chemicals Hub (“TECH Project”) for investment readiness.
- The Queensland Government grant is in addition to the recently announced $8m grant received from the Australian Federal Government under the International Partnerships in Critical Minerals program.
- Upon execution of the respective grant agreements, QPM will commence to ramp up activities for the TECH Project to advance it to stage where it is ready for a Final Investment Decision.
- The combination of the two grants represents significant and non-dilutive funding for the TECH Project. In light of this, the QPM Board has resolved to formally commence evaluation of a demerger of the TECH Project from the QPM Energy business (“Demerger”).
- The Board believes that QPM has two high quality projects that are currently undervalued in the existing corporate structure. A Demerger would allow both QPM Energy and the TECH Project to grow more efficiently and maximise value for shareholders.
Grant Funding
QPM refers to Media Statement published by the Honourable Scott Stewart, Minister for Resources and Critical Minerals on Friday 12th July1. QPM has worked with the Queensland Government, which has previously declared the TECH project a Prescribed Project and a Significant Investment Project. As a result of this collaboration with the Queensland Government, the Hon. Scott Stewart announced that the Queensland Government will make available up to $8m in the form of a grant to prepare the TECH Project for investment readiness. This is in addition to the $8m grant recently awarded to the TECH Project under the Australian Federal Government International Partnerships in Critical Minerals program (refer to ASX announcement 11 July). The Queensland Government grant also satisfies the matched funding condition required under the Federal Government grant.
QPM will now work with Queensland Treasury to finalise an agreement for the delivery of the grant and will provide more information to shareholders when it is available.
TECH Project Activities
Over the past few years, QPM has made great strides in advancing the project to a stage where it is ready for a Final Investment Decision. The two grants represent a total of $16m of non-dilutive funding which will facilitate QPM’s ability resume technical workstreams for the TECH Project without impacting the QPM Energy business and QPM’s group financial position.
Upon execution of the respective grant agreements, QPM will commence to ramp up activities on the TECH Project. This will put the TECH Project in a strong competitive position compared with other development stage nickel projects which have largely been halted. The grants will advance the TECH Project towards investment readiness, ready to capitalise on any positive sentiment change in the nickel market.
QPM Director Dr Stephen Grocott commented,
“Government support is essential for advanced manufacturing projects like TECH to be competitive on the global stage. We believe in the merits of the TECH Project with its gold standard sustainability credentials and world class partners. I would like to personally thank both the State and Federal Governments for their ongoing support, particularly at a time where it is most needed for critical minerals.”
Click here for the full ASX Release
This article includes content from Queensland Pacific Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Rare Earths Specialist CEO joins the PVW Team
PVW Resources (“PVW” or “the Company”) (ASX:PVW) is pleased to report the appointment of Mr Alistair Stephens as Chief Executive Officer of PVW.
Appointment of Chief Executive Officer
- Mr. Alistair Stephens, an industry-renowned specialist in rare earths and rare metals, joins the PVW team as Chief Executive Officer effective immediately
- With 20 years’ experience specifically in rare earths and niobium/tantalum, he brings relevant and highly strategic operational experience to accelerate the PVW resource portfolio
- A standout resource industry achiever who has collectively defined over 7 million tonnes of Total Rare Earth Oxides (TREO) resources (1,2)
- He has extensive project development skills and successfully managed multiple feasibility study programs in rare earths and rare metals
- Mr Stephens has a 35-year corporate and operations career in mining geology and mineral processing in gold, nickel and specialty metals and has a 20-year corporate career in commercial transactions, marketing and sales, and corporate governance.
- This appointment accelerates the focus on project development for PVW and complements the current Board talent in specialty and critical minerals
Board Changes
- Mr George Bauk will by rotation assume the role of Non-Executive Chair with Mr Colin McCavana and Mr David Wheeler remaining as Non-Executive Directors.
Non-Executive Chairman Mr George Bauk said: “The board of PVW Resources is extremely excited in the appointment of Mr Alistair Stephens to the role of CEO of PVW Resources.
Mr Stephens has an extensive career in leading organisations with particular reference to critical minerals including rare earths and rare metals. Over the past two decades, Mr Stephens has overseen the establishment of two significant rare earth deposits in Australia and Africa. This knowledge and leadership put PVW in a fantastic position to advance its position in the REE sector.”
Chief Executive Officer, Mr Alistair Stephens said “I am delighted to join the PVW Resources team and look forward to working with the Board in strategically relevant project developments that will deliver value for PVW shareholders.”
Click here for the full ASX Release
This article includes content from PVW Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Augustus Minerals Limited (ASX: AUG) – Trading Halt
Description
The securities of Augustus Minerals Limited (‘AUG’) will be placed in trading halt at the request of AUG, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 16 July 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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