Sao Miguel Paulista Refinery Closing Date Extension

(TheNewswire)

Jervois Global Limited

23 December 2021 (Australia) TheNewswire - Jervois Global Limited (" Jervois " or the " Company ") (ASX:JRV) (TSXV:JRV) (OTC:JRVMF) advises it is extending the closing date for the acquisition of the São Miguel Paulista (" SMP ") nickel cobalt refinery in São Paulo, Brazil.

Jervois has agreed with Companhia Brasileira de Alumínio (" CBA ") (a publicly listed aluminium company majority owned by Votorantim SA) to extend the outside date of closing of Jervois' acquisition of SMP by one month, from 31 March 2022 to 30 April 2022.

The closing date extension is to accommodate CBA's renewal of the São Paulo City Hall operating permit for SMP, which is no longer expected to be received by the end of the 2021 calendar year.

Jervois will continue to hold a lease over SMP, providing it with the access it requires to complete the Ausenco Limited (" Ausenco ") led bankable feasibility study for a restart of SMP.  However, Jervois will no longer pay CBA the R$1.5 million monthly lease charge from 1 January 2022 through to the expected closing of Jervois' acquisition of SMP.

Jervois' early termination option under the transaction sale and purchase agreement (the " Purchase Agreement ") will also be extended by one month, to 31 January 2022.

Jervois does not expect to further update the market on the exact timing of SMP's closing, other than to confirm either that closing has occurred or that the Purchase Agreement has been terminated or expired.

On behalf of Jervois Global Limited,

Bryce Crocker, Chief Executive Officer

For further information, please contact:

Investors and analysts:

James May

Chief Financial Officer

Jervois Global

jmay@jervoisglobal.com

Media:

Nathan Ryan

NWR Communications

nathan.ryan@nwrcommunications.com.au

Mob: +61 420 582 887

Forward-Looking Statements

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule", "expected" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the acquisition of SMP refinery and certain other factors or information. Such statements represent Jervois' current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Jervois, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Jervois does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

JRV:CA,JRVMF
The Conversation (0)
High Tech Metals Limited

Quarterly Activities Report and Appendix 5B for the Period Ending 30 September 2024

High-Tech Metals Limited (ASX: HTM) (High-Tech, HTM or the Company), a critical battery minerals exploration Company, is pleased to provide the following report on its activities for the Quarter ending 30 September 2024 (“Quarter”). The Company’s primary activities during the quarter were the desktop review of Werner Lake Project, Canada, (“Werner Lake”).

Keep reading...Show less

Sherritt Reports Third Quarter 2024 Results; Strong Operational Performance at Metals with Significant Improvements to Net Direct Cash Costs; Increased Available Liquidity in Canada

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Sherritt Reaffirms 2024 Guidance Following the Nationwide Power Outage in Cuba

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE   SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Sherritt Provides an Operational Update

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE   SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
A lithium-ion battery in the foreground with a line of batteries in the background, all surrounded by blue swirls.

ASX Cobalt Stocks: 4 Biggest Companies in 2024

Strong electric vehicle (EV) sales have been driving up demand for key battery raw materials in recent years. EVs require lithium-ion batteries to run, and each battery could contain up to 15 kilograms of cobalt.

This means that as demand for EVs increases, so too will demand for cobalt — and, as one of the top four cobalt-producing countries in the world, Australia finds itself in a position to capitalise on this demand.

About 74 percent of global cobalt output comes from the Democratic Republic of Congo (DRC). However, Australia is proving to be a solid contender; though it is only responsible for 2 percent of the world’s cobalt production, it holds about 15.5 percent of global reserves. Moreover, while the DRC’s labour and mining practices have often been labeled unethical and unsustainable, Australian miners are focused on safer, more environmentally friendly practices.

Keep reading...Show less

Sherritt Provides Notice of Third Quarter 2024 Results Conference Call

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×