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Energy Technologies Limited 1Q FY2025 Quarterly Activities Report and Appendix 4C
Energy Technologies Limited (ASX: EGY), is pleased to release its Quarterly Activities Report and Appendix 4C Quarterly Cash Flow Report for the period ended September 2024 (“1Q FY2025”).
Key highlights:
- Quarterly cash receipts of A$3.2m, up 23% on June 2024 Quarter;
- Net Cash operating outflows of $1.28m, a 52.6% improvement on June 2024 Quarter;
- Renewable Energy Division becomes operational and records initial sales receipts of $328k;
- Wholesale product agency/distribution agreement with Tratos Group finalised and implemented within the Purchased Sales Division;
- On 12 September 2024, announced a non-renounceable pro-rata rights issue to eligible shareholders to raise up to c. $12.7 million; and
- $6.00m line of credit secured to support continued execution of the revised business plan including anticipated growth of the Renewable Energy and Purchased Sales divisions.
The increased cash receipts and continued execution in respect of the previously announced revised business plan contributed to a significant reduction in 1Q FY2025 net cash operating outflows to $1.28m, a 52.6% improvement over the June 2024 Quarter.
The revised business plan re-focuses the Company from being predominantly concerned with the manufactured sales of specialised low voltage wires and cables to a broadening of commercial pursuits comprising:
- adopting strict financial margin metrics for the Manufactured Sales Division, whereby – absent a compelling commercial rationale - low margin production orders are transferred to the Purchased Sales Division;
- the commissioning of the of the Renewable Energy Division, which currently comprises the recently announced wholesale distribution agreement with the Gantner Group; and
- the establishment of the Purchased Sales Division with the recently announced wholesale distribution agreement with the Tratos Group, which now enables EGY to offer the complete suite of medium and high voltage wires, cables and allied products.
As a consequence of the continued execution of the transformative business plan, EGY not only enjoyed its first sales from the Renewable Energy Division during 1Q FY2025 but importantly has been able to confidently commence tendering in this sector supported by the recent:
- procurement of a $6.00m line of credit; and
- launch of the c. $12.7m non-renounceable pro rata rights issue.
With the forgoing initiatives, EGY can now comfortably meet any working capital requirements arising from its’ enhanced business activities. In this respect the Board reserves the right to place the rights issue shortfall as the working capital requirements dictate.
EGY CEO Nick Cousins commented: “We are currently pursuing a range of tenders that extend beyond revenue opportunities in our Renewable Energy Division. EGY is strategically positioned to enhance revenue growth in both the Purchased Sales and Manufactured Sales divisions. Our ability to provide comprehensive solutions across low, medium, and high voltage wires, cables, and related products will enable us to capitalise on these opportunities effectively”.
Click here for the full ASX Release
This article includes content from Energy Technologies Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Carbonxt Group Limited – September 2024 Quarterly Update
Carbonxt Group Ltd (ASX:CG1) (‘‘Carbonxt” or “the Company”) has released its Appendix 4C Report for the September 2024 Quarter and provides the following update on the key areas of activity for the period -- all numbers are in A$.
Highlights
- 4-year, $24m contract extension for the ongoing supply of premium PAC products to Reworld – an existing Carbonxt customer. Post quarter-end, Carbonxt commenced full-scale delivery of additional PAC volumes to Reworld from its Black Birch facility, in accordance with the contact terms.
- Quarterly revenue of $4.3m, with Powdered Activated Carbon (PAC) sales up 31% and Activated Carbon Pellets (ACP) sales up 27%, driven by increased demand from the power generation sector.
- Successful completion of a $3.02m capital raise, via the placement of 46.4m fully paid ordinary shares at $0.065 per share which was strongly supported by a network of sophisticated and high net-worth investors and family offices.
- Carbonxt made a further $0.625m investment in NewCarbon Processing, LLC (“NewCarbon”), the investment vehicle for the new state-of-the-art AC production facility in Kentucky jointly held with Kentucky Carbon Processing, LLC (“KCP”), with a further $0.625m to be completed in this quarter.
- Key construction works at the flagship Activated Carbon production facility in Kentucky were completed in the quarter; commissioning of the plant is now imminent with business development and operating processes being ramped-up.
Principal Activities
Carbonxt is a cleantech company that develops and manufactures environmental technologies to maintain compliance with air and water emission requirements and to remove harmful pollutants. The Company’s primary operations are in the US and include a significant R&D focus as well as manufacturing plants for activated carbon pellets and powder activated carbon. Carbonxt continues to expand its pellet product portfolio to address numerous industrial applications.
Managing Director Warren Murphy commented:
“The September quarter was highlighted by continued momentum across all our key growth drivers, with increased sales from existing operations complemented by the forthcoming commissioning of our state-of-the-art production facility in Kentucky.”
“With commissioning of the Kentucky facility now imminent, Carbonxt continues to execute on its strategy to deliver a step-change in growth and earnings, significantly scaling up its production capacity to meet the growing demand for premium Activated Carbon production in the US market.”
Overview
- Customer receipts for the quarter were $1.8m. As noted in the ASX announcement of 28 May 2024, Wisconsin Public Service (“WPS”) pre-paid for the volume delivered in this quarter. The pre-payment amount was received in the previous quarter and associated volumes have now been delivered in full. New business in the waste to energy market (see announcement of 17 October 2024) commenced on 1 October 2024 and these increased revenues will be seen the next quarter.
- Activated Carbon Pellet (ACP) primary sales during this period were higher by 27% for the quarter compared to last quarter as the WPS pre-paid volumes were delivered.
- Powdered Activated Carbon (PAC) revenue was 31% higher this quarter as compared to the prior quarter due to seasonally higher PAC usage in the summer by electricity utility customers.
Revenue and Operating Cash Flow
- Total revenue for the quarter was $4.3m with PAC sales contributing to 42% of this revenue. To mitigate the impact of seasonal fluctuations, which are a feature of the power generation sector, the Company continues to diversify its product offerings and expand into other markets, particularly in the water and wastewater sectors.
- As noted earlier, the Net Operating Cash for the quarter reflects the prepayment for 1,200 tons of ACP products from WPS in the prior quarter, with production and revenue recognition largely in this quarter.
- Revenue and cash receipts from the $6m p.a. contract extension with Reworld will be recognised in the December quarter, following the completion of first deliveries in October.
Figure 1 – Quarterly Net Operating Cashflows
Further Investment in NewCarbon
Carbonxt utilised part of its recent fundraising (see below) to meet the next instalment of its investment in NewCarbon. The total instalment is US$1.25m, with US$0.625m made in the quarter, with the remaining balance expected to be made by 15 November 2024. Carbonxt’s ownership stake in NewCarbon at the end of this September quarter is 38%.
Click here for the Appendix 4C
Click here for the full ASX Release
This article includes content from Carbonxt Group, 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.
Biden Admin Pledges US$428 Million for Clean Energy in Ex-Coal Regions
The Biden administration announced on Tuesday (October 22) that it has allotted US$428 million to accelerate clean energy manufacturing in former coal communities located across the US.
The US Department of Energy (DOE) selected 14 projects to receive funds, saying that the money will be distributed among 15 communities that have historically been dependent on coal production.
The move is part of the broader Investing in America agenda, which seeks to bolster the US economy by creating jobs, addressing energy supply chain vulnerabilities and transitioning to cleaner energy sources.
The projects, led by small and medium-sized businesses, are intended to transform regions that were once reliant on coal by supporting clean energy industries. The DOE’s Office of Manufacturing and Energy Supply Chains selected the projects to stimulate private sector investment and create over 1,900 jobs in these coal communities.
According to US Secretary of Energy Jennifer Granholm, this initiative leverages the expertise and skills of former members of the coal workforce, many of whom have powered the nation for decades.
“By leveraging the know-how and skillset of the former coal workforce, we are strengthening our national security while helping advance forward-facing technologies and revitalize communities across the nation,” she added.
Combined, these investments are geared at ensuring that the US remains competitive in the growing global market for clean energy, which is projected to reach US$23 trillion by 2030.
The projects range from retrofitting facilities to produce key components for renewable energy, such as lithium-ion batteries and high-efficiency motors, to developing low-carbon building materials from recycled industrial waste.
Several of these projects are expected to make immediate contributions to both local economies and the clean energy sector, addressing supply chain gaps and increasing US manufacturing capacity.
One example is a US$24.9 million amount awarded to Anthro Energy in Louisville, Kentucky. The company will retrofit a facility to produce advanced electrolyte for use in lithium-ion batteries, creating around 115 permanent jobs.
Another project, led by CleanFiber, will establish two separate production facilities in Chehalis, Washington, and Ennis, Texas, to produce advanced cellulose insulation from recycled cardboard. These facilities are projected to weatherize over 20,000 homes annually and provide full-time employment for 80 workers.
In Erie, Michigan, TS Conductor has received US$28.2 million to set up a factory that will produce high-voltage direct-current conductors. This facility will create more than 425 construction jobs and over 160 operational roles.
In Tennessee, Hempitecture will receive US$8.42 million to create a facility for processing industrial hemp into sustainable building materials. Other notable projects include an US$80 million award to MetOx International to develop an advanced superconductor manufacturing facility in the Southeast US, and a US$52.6 million award to Terra CO2 Holdings to build a new facility in Magna, Utah, for producing low-emission cement alternatives.
The DOE’s announcement is seen as a commitment in the US’ shift toward renewable energy, as it simultaneously focuses on decarbonizing the energy sector and revitalizing industrial communities.
The investments are also aligned with the broader goals of the Biden administration, which focus on reducing reliance on foreign energy sources and increasing national security.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
COLDry Lignite-Nitrogen Fertiliser Demonstration
Environmental Clean Technologies Limited (ASX: ECT) ("ECT" or "the Company") is pleased to announce the signing of the Joint Venture Agreement (JVA) with ESG Agriculture, advancing from the Heads of Agreement signed in July 2024. This marks a significant milestone in the progression of the COLDry Lignite-Nitrogen Fertiliser Project (“Project”).
Highlights:
- Joint Venture Agreement (JVA) with ESG Agriculture signed, building on the Heads of Agreement from July 2024
- Bacchus Marsh lignite-nitrogen fertiliser project targeting initial production of 30,000 tonnes per annum, increasing to 50,000 tpa
- Non-dilutive working capital loan application in progress
- Non-dilutive project financing under negotiation
- Field trials poised to commence, focused on securing off-take agreements.
Following the successful commissioning of the COLDry demonstration plant in December 2023, ECT explored various project pathways in late 2023 and early 2024. Lignite-nitrogen fertiliser was identified as the fastest and most cost-effective avenue for revenue generation, positioning the agriculture application as the key focus for commercialisation.
Project Overview
The Project targets annual production of 30,000 tonnes per annum of lignite-blended nitrogen fertiliser, with the ability to increase to 50,000 tonnes per annum, based on the current plant capacity and design. This represents a major shift in ECT's efforts, evolving from a technical demonstration of the COLDry process into a commercial initiative.
The Project offers farmers a sustainable and cost-effective solution by incorporating lignite into the fertiliser, reducing urea usage by 50%, and drying the blended, granulated product using ECT’s patented COLDry technology. The fertiliser is designed to lower nitrogen emissions, enhance crop yields, and mitigate environmental impacts.
Following the completion of field trials, ECT expects to formalise off-take agreements and generate revenue ahead of the planned Phase 1 expansion to 50,000 tonnes per annum.
Signing of Joint Venture with ESG Agriculture
The Joint Venture Agreement (JVA) with ESG Agriculture marks the next phase in the collaboration following the success of the Heads of Agreement. ECT and ESG Agriculture have committed $500,000 in equity (50/50 split) to establish the joint venture entity, which will oversee production and lead field trials for the lignite- nitrogen fertiliser.
Sam Rizzo, ECT’s Managing Director, commented:
“Our partnership with ESG Agriculture builds on the successful commissioning of our COLDry demonstration plant, moving our technology into the commercial arena. This joint venture will showcase the effectiveness of lignite-blended nitrogen fertilisers and unlock new growth opportunities in agriculture, offering farmers a sustainable and cost-efficient solution.”
Engineering and Field Trials
The Project continues to make strong progress, having previously achieved a key technical milestone with the successful independent testing that validated the blending and drying of lignite with nitrogen fertiliser. The Project will shortly enter field trials across major South Australia, Victoria, New South Wales, and Queensland agricultural regions.
The field trials, supported by Memoranda of Understanding (MOU’s) with major agricultural stakeholders, aim to convert successful outcomes into binding offtake agreements, transforming the trials into commercially bankable results.
Financial and Operational Progress
To support the project’s execution, ECT is finalising a loan secured against its Yallourn property. This non- dilutive working capital will provide funding through the field trials phase. Concurrently, ECT is negotiating a project loan to enable the commencement of construction.
ECT remains focused on a financing strategy prioritising non-dilutive options to protect shareholder value. This will enable the Company to meet key milestones, including construction, field trials, and the start of commercial production.
Click here for the full ASX Release
This article includes content from Environmental Clean Technologies Limited, 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.
Expanded PAC Volumes Commence for $24M Reworld Contract
Carbonxt Group Ltd (ASX:CG1) (‘‘Carbonxt” or “the Company”) is pleased to announce that it has commenced the delivery of additional Powder Activated Carbon (“PAC”) volumes to Reworld, a global leader in sustainable waste solutions, from its Black Birch facility in Swainsboro, Georgia.
- Expanded PAC Delivery to Reworld: Carbonxt has commenced full-scale delivery of additional Powder Activated Carbon (PAC) volumes to Reworld from its Black Birch facility, supporting Reworld's emission control efforts across 17 U.S. waste-to-energy plants.
- First deliveries under Carbonxt’s 4-year, $24m contract extension with Reworld, which will generate annual revenues of ~$6m for the duration of the contract with a significant uplift in gross margins for the Black Birch facility
- Resilience Post-Hurricanes: Despite the impact of Hurricanes Helene and Milton, the Black Birch facility experienced only a brief outage and sustained no significant damage, allowing Carbonxt to quickly resume operations and meet delivery commitments.
All amounts are in AUD unless otherwise stated.
This marks a critical milestone in the Company’s previously announced contract extension with Reworld, which now encompasses a larger portion of their PAC supply for use in 17 waste-to-energy plants across the U.S. The PAC, manufactured at Carbonxt’s Black Birch plant, is a key component in Reworld’s efforts to meet stringent mercury, dioxin, and furan emission regulations while supporting their broader sustainability goals.
The additional PAC deliveries form part of Carbonxt’s 4-year, $24m contract extension with Reworld, with first shipments completed in line with the planned October commencement date (refer ASX Announcement 22 July 2024). A key decision factor for Reworld in extending its contract was the sustainable nature of Carbonxt’s PAC products, which aligns strategically with Reworld’s move away from fossil fuels and its focus and commitment to advancing zero waste initiatives and meeting its sustainability objectives.
The contract is valued at around $6 million annually, with the additional volume delivery representing a significant scale-up for Carbonxt’s operations. The Company has optimized the Black Birch facility to handle the increased demand, implementing new efficiencies and ensuring a consistent, high-quality PAC supply to support Reworld’s emission control systems.
Update on Business and Manufacturing Operations Post-Hurricanes Helene and Milton
Carbonxt is also pleased to report that despite facing two recent major weather events, Hurricane Helene and Hurricane Milton, the Company’s Black Birch manufacturing facility has resumed full operations with no significant damage.
The plant experienced a short outage during the hurricances, however, there was no long-term impact on production capabilities or the integrity of the facility. Thanks to prompt recovery efforts and robust contingency planning, the facility was back online swiftly, allowing Carbonxt to continue fulfilling its delivery obligations with minimal disruption.
As part of its long-term collaboration, Carbonxt will continue to work with Reworld through their Preferred Supplier Program and in joint sustainability initiatives, including the development and acquisition of renewable energy credits.
Comment
Managing Director Warren Murphy said: “We are thrilled to have successfully ramped up production at Black Birch and to now be delivering the increased PAC volumes to Reworld. This contract underscores the strength of our renewable PAC products and the trust that Reworld has placed in our capabilities. We look forward to continuing our partnership as a key supplier of PAC product to assist Reworld in meeting their emissions targets and achieving their long-term sustainability objectives.”
Click here for the full ASX Release
This article includes content from Carbonxt Group, 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.
What Does the US Election Mean for the Future of Cleantech?
The cleantech industry is poised for growth, but the upcoming US election will have implications for its future.
The two candidates, former US President Donald Trump and current Vice President Kamala Harris, hold divergent views on climate change, the importance of clean energy and the impact the sector has on the economy.
It's clear this election will shape policies in the space for years to come. Here the Investing News Network examines both candidates to determine what either outcome could mean for the future of cleantech.
What do Harris and Trump think about climate change?
As vice president, Harris has supported President Joe Biden’s various climate initiatives.
The Inflation Reduction Act (IRA), enacted by Biden in 2022, is regarded as the largest climate investment in US history, and Harris cast the tie-breaking vote for it to pass. It has helped launch over 330 new climate projects.
King Lip, chief strategist at Baker Avenue Wealth Management, told Reuters in August that he expects Harris to continue supporting the clean energy initiatives outlined in the Democratic Party platform if she wins.
According to the platform, a Democratic administration will “continue to invest in clean energy research and development,” with plans to establish a laboratory for climate research and an Advanced Research Projects Agency for Climate, while also continuing to eliminate carbon from the transportation sector.
The Republican Party platform promises “reliable and abundant low-cost energy” and outlines measures it will take to support the oil and gas industry. Trump has a history of denying climate change — in August 2020, the Brookings Institution published an article that counted 74 actions his administration took to weaken environmental protections.
More recently, Washington Post sources alleged that, during a May dinner with the country’s wealthiest oil executives, Trump promised to reverse several of Biden’s environmental policies in exchange for campaign donations. An investigation was subsequently launched by the Committee on Oversight and Accountability.
Harris vs. Trump: Cleantech funding and tax policies
Federal funding to support research and development (R&D) will play a pivotal role in shaping the future of US cleantech innovation, and tax policies may influence venture capital (VC) investments.
Here's what Harris and Trump have said about cleantech funding and tax policies.
Harris and the Democrats
Democrats remain committed to preserving and advancing Biden's climate and clean energy agenda, and will continue encouraging investment in the sector while dedicating federal resources to climate R&D. By providing tax incentives and rebates, the administration aims to make sustainable infrastructure and energy-efficient technologies more affordable.
Democrats will also expand workforce training initiatives through the American Climate Corps to ready the workforce for well-paying union jobs in the clean energy sector. Furthermore, promoting competition between big oil and clean alternatives will contribute to achieving climate goals and advancing the clean energy transition.
VCs have been quick to support Harris. Among them is Chris Sacca of Lowercarbon Capital, a firm that backs companies developing technologies to reduce carbon emissions. However, increasing the corporate tax rate to 28 percent from 21 percent could have implications for VC investments. Higher taxes would lower the expected returns for both VC firms and entrepreneurs, potentially leading to reduced investments or engagement with startups.
Trump and the Republicans
Trump has pledged to end inflation and stimulate the economy by streamlining government spending and boosting domestic energy production, with a focus on traditional sources like oil and fossil fuels.
He has also discussed his intention to permanently cut the corporate tax rate to 21 percent.
To achieve their economic vision, the Republicans aim to eliminate the “socialist” Green New Deal, a set of policy proposals introduced in 2021 by Representative Cori Bush (D-MO). It was reintroduced in 2023 by Senator Edward J. Markey (D-Mass.) and Congresswoman Alexandria Ocasio-Cortez (D-NY-14). While the Green New Deal hasn't been fully implemented, its policies influenced the IRA, which includes investments in clean energy and climate initiatives.
Project 2025, a presidential transition operation developed by the Heritage Foundation, a conservative think tank, includes a roadmap that calls for a repeal of the IRA, as well as major budget cuts to departments that oversee renewable energy projects. Trump has denied any involvement with Project 2025, but many of the manifesto’s authors worked for the former president during his last term. Trump also called for a 3 percent reduction in funding to the Department of Energy’s Office of Energy Efficiency and Renewable Energy in his 2019 budget request.
However, the Republican emphasis on corporate tax cuts could have positive implications for cleantech startups. A study conducted in October 2023 by economists associated with the National Bureau of Economic Research and the Treasury Department found that the Tax Cuts and Jobs Act (TCJA), which Trump signed into law in 2017, boosted corporate investments by about 20 percent over two years.
While a significant portion of the increased cash flow from the TCJA was directed toward share buybacks and dividends, it's worth noting that a portion of the funds was also reinvested in R&D.
Harris vs. Trump: Renewable energy, nuclear power and CCS
The US is experiencing a surge in renewable energy adoption, particularly wind and solar power.
The country is behind only China when it comes to installed wind capacity, and July data from the US Energy Information Administration shows that for the first time ever, wind and solar produced more energy year-to-date than coal.
There is also expanding interest in nuclear power generation.
According to a recent Axios report, the first seven months of 2024 saw a surge in investment in advanced nuclear technology, reaching US$3.9 billion compared to the US$355 million invested in all of 2023.
Here's what Harris and Trump have said about renewable energy, nuclear power and more.
Harris and the Democrats
A Harris administration would likely present a more formidable challenge to big oil interests compared to Trump. The former prosecutor has a history of promoting industry reform. As attorney general of California, Harris defended AB32, a state law requiring a reduction of greenhouse gas emissions, from the Rocky Mountain Farmers Union, which argued that the law conflicted with the Clean Air Act and created an illegal barrier to interstate commerce in 2012.
In addition, the Democrat platform promises to raise taxes and close loopholes for big oil companies and save families money at the pump, all while driving growth in the renewable energy sector.
While the Democratic Party has historically had mixed views on nuclear energy, attitudes have shifted in recent years as members recognize that power demand is heavily increasing.
Biden’s policies have unlocked funding for nuclear power, expanding tax credits to include nuclear power projects.
Trump and the Republicans
The Republican Party platform calls to end restrictions on oil and natural gas in a bid to lower energy costs, and Trump has been vocal about his intention to continue using fossil fuels. He has also said that the US would exit the Paris Agreement again if he is re-elected, and has proposed federal spending cuts that could affect funding for Department of Energy and Environmental Protection Agency programs that support renewable energy initiatives.
It's possible that Trump's plans will face pushback from energy companies that have made investments in clean energy projects. In particular, carbon capture and storage (CCS) technology has generated jobs in Republican states, and they could be at risk if the IRA is rolled back by Trump and his administration.
“I think that reality is making this particular carbon management piece of legislation — not untouchable, but I think very stable,” CarbonCapture CEO Adrian Corless told Politico in June. Even Mike Sommers, president of the American Petroleum Institute, has voiced his support for the parts of the IRA that are good for business.
While his stance on clean energy has been largely skeptical, Trump does show support for one type in particular: nuclear power. "We have to produce massive electricity," he said, referencing the power demands of artificial intelligence during an interview with Shawn Ryan, a former Navy SEAL and host of “The Shawn Ryan Show."
“If I’m president,” he continued, “we’ll do it through natural gas and nuclear."
In terms of legislation, in July, the House Appropriations Committee passed House Bill 8997, legislation that would funnel US$9 billion into two nuclear reactor demonstration projects and fund the deployment of one small modular reactor.
The bill was developed by Energy-Water Appropriations Subcommittee Chair Chuck Fleischmann, who has endorsed and aligned himself with Trump on multiple occasions.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Troy Minerals: Targeting Near-term High-purity Silica Production in Mongolia and British Columbia
Troy Minerals (CSE:TROY;OTCQB:TROYF;FSE:VJ3);OTCQB:TROYF;FSE:VJ3), a rapidly emerging player in the critical minerals space, focuses on the development of high-purity silica and other essential materials for the clean energy transition. Troy Minerals has a diverse portfolio designed to capitalize on the increasing demand for raw materials needed in high-growth industries.
The company two high-purity silica projects: Table Mountain in British Columbia and the Tsagaan Zalaa project in Mongolia, both acquired through the strategic purchase of CBGB Ventures in September 2024. The projects are targeted for near term production, with Tsagaan Zalaa targeted to come online in 2025 and Table Mountain in 2026.
The Tsagaan Zalaa project is near the China-Mongolia border and is a near-term high-purity silica asset envisioned to commence production by 2025. The project’s proximity to key consuming markets, such as China, Japan and Korea, provides significant logistical advantages for the transportation of silica.
Company Highlights
- Troy Minerals acquired CBGB Ventures in September 2024, securing two flagship high-purity silica projects in British Columbia and Mongolia.
- The Tsagaan Zalaa project in Mongolia is being targeted to commence high-purity silica production by 2025, thereby positioning the company as a key supplier for solar and semiconductor industries.
- The Table Mountain project in British Columbia is being targeted to begin high-purity silica production by 2026, with a 24-month development timeline.
- High-purity silica, similar to the company’s projects, is critical for solar panel production, semiconductors, fiber optics and high-performance glass.
- The company also maintains an exploration portfolio of critical mineral assets, including vanadium and REE, in tier 1 jurisdictions.
This Troy Minerals profile is part of a paid investor education campaign.*
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