Blackstone Minerals (ASX:BSX)

Quarterly Report for the Period Ending 30 September 2023

Blackstone Minerals (ASX:BSX) is pleased to present the company's quarterly report for the period ending 30 September, 2023.


HIGHLIGHTS:
  • Completion of key Vietnamese studies and commencement of early contractor engagement to support the Ta Khoa Refinery definitive feasibility study.
  • Completion of the Ta Khoa Nickel plant concentrator pilot programme and significant progress toward completion of the variability testwork programme.
  • Blackstone and Arca sign Memorandum of Understanding to further investigate the carbon capture potential at the Ta Khoa Project via carbon mineralisation and explore opportunities to utilise Arca’s carbon capture technologies within the Project. Carbon mineralisation is one technology being considered to reduce Ta Khoa Project’s carbon footprint, providing a pathway to realise Blackstone’s Green Nickel™ vision and position the Company to meet the growing global demand for low carbon intensity battery raw materials.
  • The Ta Khoa Project was included in the Vietnamese National Mineral Master Plan. The Master Plan is a key document and reference point in the approval of major mineral projects in Vietnam. The inclusion demonstrates the projects ‘significant value’ for Vietnam.
  • The Vietnamese Ministry of Natural Resources and Environment approves the Company’s exploration and reserve report for the Ta Khoa Nickel mine, a significant permitting and licensing milestone allowing the Company to progress the Ban Phuc, Ban Khoa, King Snake and Ban Chang Mining license applications.
  • Blackstone entered into a three-way Memorandum of Understanding with Vietnam Rare Earths JSC and ASX listed Australian Strategic Materials to cooperate on opportunities to develop a fully integrated rare earths mine to metals value chain in Vietnam.
  • Blackstone published its third sustainability report, covering the reporting period 1 July 2022 to 30 June 2023. The report provides stakeholders with an accurate and transparent account of our efforts, impacts and achievements around material ESG topics.

CORPORATE

  • End of quarter cash position of $6.0m, plus an additional $1.1m in funding received via the Acuity Capital At-the-Market Facility.
  • Listed investments of $9.7m at the end of quarter.
  • Received $2.8m before costs from advanced funding for the company’s 2023 R&D program on 18 July 2023.


BLACKSTONE COMPLETES VIETNAMESE STUDIES FOR TA KHOA REFINERY

Blackstone announced on 20 July 2023 the completion of key Vietnamese studies and commencement of early contractor engagement for the Ta Khoa Refinery (“TKR”) Definitive Feasibility Study (“DFS”).

Blackstone recognises the importance of engaging local contractors to enhance project value as they have deep understanding of the Vietnamese business landscape, local culture, and expertise in their respective fields. Local contractors have played a pivotal role in the development of the Company’s Refinery DFS and will continue to play a major role in expediting construction and permitting timelines, ensuring the Project is ‘Vietnam-ready’, locking-in highly competitive local pricing and contributing to the overall Project success.


Click here for the full ASX Release

This article includes content from Blackstone 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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