Battery Metals

TNG announces it has received the federal environmental approval needed to proceed with the Mounte Peak project. The company expects to unearth sizeable vanadium titanium and iron deposits.

Australian strategic metals company TNG Limited (ASX:TNG) announces the Federal Minister for Environment and Energy, the Hon Josh Frydenberg, has granted environmental approval, subject to implementation conditions, to the mine site component of its flagship 100 percent-owned Mount Peake vanadium titanium iron project, located 230km north-west of Alice Springs in the Northern Territory.

As quoted in the press release:

The key approval has been granted in accordance with and for the purpose of certain provisions of the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act) and marks the completion of the Environmental Impact Assessment (EIA) process for the mine site component of the Mount Peake Project.

The approval follows the Northern Territory Environmental Protection Authority (NTEPA) providing an approved assessment report in January this year. The receipt of federal environmental approval represents the final major permitting hurdle to allow financing and construction of the Mount Peake Project to proceed, and signals that it is ready to progress to the next stage of mining approval under the Mining Management Act.

In order to complete this process, TNG has commenced work to finalize its Mine Management Plan (MMP), incorporating the recommendations made by the NTEPA, as outlined in their assessment report.

“This Federal environmental approval is a huge milestone for all our key stakeholders, but particularly for our development and permitting team and our shareholders, who have waited patiently for this news. We are absolutely delighted that the long-running Environmental Impact Assessment process for the Mount Peake mine and infrastructure component is now completed,” said TNG’s managing director, Paul Burton.

Click here to read the complete announcement

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All amounts expressed are in U.S. dollars, denominated by “$”. Q3 2021 and Other Significant Highlights Net income of $9.2 million, a 261% increase over Q3 2020; Basic earnings per share of $0.14 Revenues of $53.9 million, 96% higher than Q3 2020; Revenues per lb sold 1 of $9.10, a 69% increase over Q3 2020 Cash balance of $87.6 million exiting Q3 2021 Battery Development Funding: Largo Clean Energy selected to ...

All amounts expressed are in U.S. dollars, denominated by "$". Q3 2021 and Other Significant Highlights

  • Net income of $9.2 million, a 261% increase over Q3 2020; Basic earnings per share of $0.14
  • Revenues of $53.9 million, 96% higher than Q3 2020; Revenues per lb sold 1 of $9.10, a 69% increase over Q3 2020
  • Cash balance of $87.6 million exiting Q3 2021
  • Battery Development Funding: Largo Clean Energy ("LCE") selected to receive $4.2 million in funding from the U.S. Department of Energy ("DOE") to scale up U.S.-based manufacturing of flow battery and long duration storage systems
  • First Battery Sales Contract: On July 20, 2021, LCE entered into its first VCHARGE vanadium redox flow battery ("VRFB") sales contract with Enel Green Power España ("Enel"); LCE will deliver a 5 hour, 6.1 MWh VCHARGE system for a project in Spain and received a Notice to Proceed on July 30, 2021
  • 2020 Sustainability Report Released: Significant progress made on environmental, social and governance priorities in furthering the Company and vanadium's role in the global green economy
  • Total V 2 O 5 equivalent sales of 2,685 tonnes, a 16% increase over Q3 2020
  • Production of 3,260 tonnes (7.2 million lbs 2 ) of V 2 O 5 , a 5% increase over Q3 2020
  • Cash operating costs excluding royalties 1 of $3.53 per lb of V 2 O 5 vs. $3.14 per lb in Q3 2020
  • Solid Vanadium Demand: Average Fastmarkets European V 2 O 5 price of approximately $9.40 per lb in Q3 2021, a 76% increase over the average in Q3 2020
  • Corporate Name Change and Rebrand: In line with the Company's Board approved strategy to vertically integrate is foundational mining business and growing energy storage division, Largo announced that it has changed its name from Largo Resources Ltd. to Largo Inc.
  • Pre-Feasibility Study Results Released: On November 3 rd , 2021, the Company announced its technical report results outlining a significant expansion of V 2 O 5 production and reserves supported by new cash flow generation from titanium dioxide ("TiO 2 ") pigment co-product sales. The result is a 20-year mine life and a $2.0 Billion after-tax NPV 7% for the Maracás Menchen Mine
  • 2021 Production and Sales Guidance: Production guidance of 11,400 to 11,800 tonnes of V 2 O 5 equivalent; Sales guidance of 11,200 to 11,800 tonnes of V 2 O 5
  • UPDATED: The Company will host a webcast and conference call for its Q3 2021 results on Thursday, November 11th at 10:00 a.m. ET

Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) today announces its third quarter 2021 financial results highlighted by revenues of $53.9 million and net income of $9.2 million. The Company recently announced results of a pre-feasibility study which forecasts materially increased profitability through enhanced access to vanadium and achieved important milestones in the development of its vanadium-based energy storage business.

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Largo Inc. is pleased to announce that it has completed a rebranding exercise to reflect the growth and diversification of its business. As part of this initiative, Largo has effective as of today, amended its articles in accordance with the Business Corporations Act to change its name from Largo Resources Ltd. to Largo Inc., updated its corporate logos and refreshed its corporate website to integrate its Largo ...

Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) is pleased to announce that it has completed a rebranding exercise to reflect the growth and diversification of its business. As part of this initiative, Largo has effective as of today, amended its articles in accordance with the Business Corporations Act (Ontario) to change its name from Largo Resources Ltd. to Largo Inc., updated its corporate logos and refreshed its corporate website to integrate its Largo Clean Energy business and become more than just a mining company. Largo remains focused on delivering high-quality, sustainable and innovative vanadium focused energy storage products along side its existing high quality vanadium products.

The Company's common shares are expected to begin trading on the Toronto Stock Exchange and the Nasdaq Stock Market under the new name at market open on or around November 10, 2021.

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