Sama Resources (“Sama” or the “Company”) (TSX VENTURE:SME) announces that the Company has signed a Technology License Agreement (“License”) with Canadian-based CVMR (“CVMR” or the “Licensor”).
Under the terms of the agreement, CVMR grants Sama use of its technology to refine the mineralized material from the Samapleu property in Ivory Coast, West Africa, to produce nickel and iron powders. At present, prices payable for nickel powders treated using CVMR’s technology are at a significant premium above the current LME prices for nickel, providing Sama with a market advantage and growth opportunity not previously available.
Dr. Marc-Antoine Audet, P.Geo, President and Chief Executive Officer, Sama Resources, said:
“The partnership with CVMR will enable Sama to complete technical studies for a proposed open pit operation at Samapleu with higher returns compared to a simple flotation process.We expect to complete the Samapleu feasibility study by year-end 2017.”
Kamran M. Khozan, Chairman and Chief Executive Officer, CVMR commented:
“The geological formation of the Samapleu deposit is ideally suited to CVMR’s nickel and iron powder production technology. The manufacture of metal components and additives has undergone a paradigm shift in the past ten years as 3D printing and metal injection moulding are replacing many other manufacturing methods.
Accordingly, the demand for nickel and iron powders is increasing more rapidly than most optimistic forecasts.”