- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Elixir Energy
Culpeo Minerals
Forward Water Technologies
Falco Resources
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Western Strategy Resource Expansion Drilling To Commence At Paradox Lithium Project
Drilling Permits for Western Expansion Granted
Anson Resources Limited (ASX: ASN, ASNOC) (Anson or the Company) is pleased to announce that approval has been granted by the Utah Division of Oil, Gas and Mining (UDOGM) for the commencement of its western Resource expansion drilling program at the Paradox Lithium Project (the Project) in Utah, USA.
Highlights:
- The Application Permit to Drill (APD) to re-enter the Sunburst No.1 and Mineral Canyon Fed 1-3 wells has been approved by the Utah Division of Oil, Gas and Mining
- Approval allows Anson to commence the Western Strategy of its ongoing major resource expansion drilling program at the Paradox Lithium Project
- The Western Strategy is designed to deliver a further substantial JORC resource increase by converting existing Inferred Resources and the large Exploration Target into Indicated and Inferred Resources
- The Exploration Target at the Project’s Western Strategy has been upgraded to; 2.10Bt – 2.56Bt of brine grading 108 – 200ppm Li and 2,000 – 3,000ppm Br1
- Western Strategy re-entry program will target lithium rich-brine aquifers within the thick Mississippian units and Pennsylvanian clastic horizons and is expected to commence in Q1 2023
UDOGM has approved Anson’s plan to conduct a re-entry and sampling program at the Sunburst No.1 and Mineral Canyon Fed 1-3 wells in the western region of the Project area (Figure 1). This is another significant step in the Company’s Resource expansion program. The Bureau of Land Management (BLM) has already approved the new drilling and sampling program of all horizons at Sunburst No.1 and Mineral Canyon Fed 1-3 listed in Table 1, see ASX Announcement 5 October 2022.
Under its ‘Western Strategy’, Anson plans to convert the existing Inferred Resource and Exploration Target to Indicated and Inferred Resources, see ASX Announcement of 10 September 2020 and 26 July 2021. Subject to favourable sampling results from the re-entry program, it is proposed that the Western Expansion program will deliver a further significant expansion of the existing Mineral Resource of; 1,037,900t of Lithium Carbonate Equivalent (LCE) and 5.27Mt of Bromine, see ASX announcement 2 November 2022.
Background to Western Resource Expansion Program
Sampling of brine from the Sunburst and Mineral Canyon wells will be tested for lithium (Li) and other minerals including bromine (Br), Iodine (I) and Boron (B) concentrations in clastic horizons 17, 19, 29, 31 and 33 as well as the thick Mississippian units.
The wells are located approximately 1km from historic lithium-rich assayed brines previously sampled from a number of wells in the “Big Flat” area. The thicknesses of each horizon containing the supersaturated brines are shown in Table 1. It can be seen from the thicknesses of the Mississippian units that it is a very large reservoir which may result in a significant increase in the JORC resource at the Project once the sampling program is completed.
Anson initially applied to re-enter the Mineral Canyon Fed 1-3 and Sunburst 1 wells to test lithium, bromine, boron and iodine grades in the Paradox Formation brines, with the intent to increase and upgrade the Project’s JORC Resource (see ASX Announcement of 10 September 2020).
The application was subsequently amended to include the sampling of the much larger aquifer within the Mississippian units. The sampling of the Mississippian units has proven successful, as evidenced by the Resource expansion program at the Long Canyon Unit 2 and Cane Creek 32- wells which resulted in a large increase in the JORC resource for the Project, see ASX announcements 2 November and 22 August 2022.
The thicknesses of the horizons to be sampled in the re-entry programs are shown in Table 1.This article includes content from Anson Resources, 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.
Anson Resources: Developing a Near-Term Clean Energy Project in Utah
Anson Resources (ASX:ASN) focuses on the resources necessary to meet the energy demands of the future. The company’s flagship project, the Paradox Lithium Project, has the potential to become a world-class lithium producer and is located near Tesla’s massively productive gigafactory in the United States. Additional projects target nickel, copper, and uranium.
The company's flagship Paradox Project is located in Utah, a mining-friendly and politically stable jurisdiction. The asset holds significant lithium brine deposits, and the company has identified an extraction method that has delivered an extraction rate of 91.5 percent. This technique calls for passing the lithium through the resin, which captures the resin, and can then be separated from the resin with water. From that state, it can be processed into lithium carbonate. The company is currently undertaking a major JORC resource expansion drilling program, the results of which will feed into a Detailed Feasibility Study being carried out by global engineering firm, Worley.
Company Highlights
- Anson Resources is focused on developing its flagship project, the Paradox Lithium Project, into a significant lithium producing operation.
- The company is currently undertaking a major JORC Resource expansion program at Paradox, which will form part of a Detailed Feasibility Study which is being undertaken by leading global engineering consultants, Worley.
- The Paradox Project contains multiple lithium brine targets, and the company has identified an extraction method that produces an impressive return rate of 91.5 percent. Also, the project’s Direct Lithium Extraction (DLE) method is expected to deliver significant ESG benefits
- In addition, the project’s brine also contains bromine, creating a valuable second potential revenue stream for the asset.
- Anson Resources’ other projects target nickel, copper, vanadium and uranium. The company aims to supply energy markets with the mineral resources necessary to power the future.
- The company has an experienced management team with a mix of technical, corporate and commercial skills driving the project towards its ambitious goals.
This Anson Resources company profile is part of a paid investor education campaign.*
Quarterly Activities Report for the Period Ending 31 March 2024
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to provide the following summary of activities undertaken during the quarter ended 31 March 2024 (March Quarter).
Highlights
- Assay results received from last quarter's drilling at the Ti-Tree project identified mineralisation at several prospects.
- Strong results, consistent with the zones of a porphyry copper system were received from the first 22 holes drilled into the Minnie Springs Cu-Mo-Ag porphyry prospect, including intercepts of:
- MSRC012: 18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and;
- 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole
- MSRC022: 7m @ 0.19% Cu from 87m downhole
- MSRC011: 7m @ 0.12% Cu from 21m downhole
- MSRC012 mineralisation contained significant base metal and silver including:
- 5m @ 27.6 g/t Ag, 0.25% Pb and 0.15% Zn with 148 ppm Mo from 107m, and
- 14m @ 21.5 g/t Ag, 0.18% Pb and 0.1% Zn with 274ppm Mo from 122m
- Copper Ridge CRRC008 returned:
- 4m @ 0.91% Cu from 13m
- Including 2m @ 1.67% Cu
- A 3,400m RC drill program has commenced at Minnie Springs, with deeper diamond drilling planned for June.
- Extensive soil sampling program commenced, representing the first systematic exploration over large parts of the mineralised Ti-Tree and adjacent Minga Bar Shears
- Soil program to target both base metal-gold and lithium prospective Leake Spring Metamorphics as well as extensions to the Minnie Springs porphyry style copper- molybdenum trend.
- Cash position of $4.55m as of 31 March
Augustus has continued to advance its mineral exploration ground efforts within the Ti-Tree Project with a regional soil sampling program commencing in March and a second RC drilling program commencing in early April at the Minnie Springs Cu-Mo-Ag porphyry prospect.
Drilling Activities
The Ti-Tree project covers some 3,600km2 and overlies 85kms of strike of the Ti-Tree Shear which is known to host a significant number of mineral occurrences in the region. The project area also contains >20kms of strike of the Money Intrusion, where Dreadnought Resources (ASX:DRE) has recently discovered significant Ni-Cu-PGE mineralisation1 .
Assay results from late last quarter’s drilling which comprised 78 holes totalling 9,086m of Reverse Circulation (RC) drilling were received in the March quarter2.
The primary focus of this drill program was to target significant mineralised zones defined by surface exploration completed across the 6 prospect areas of Minnie Springs, Coo Creek, Nick’s Bore, Copper Ridge, Crawford Bore and Crawford South (Figure 1).
Figure 1. Map of Crawford area and Minnie Springs, key drilling targets
Significant assays with >1m width at >0.1%Cu are shown in Table 1 below. Intervals marked * contain composite samples (nominal 4m).
This article includes content from Augustus 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.
Quarterly Report – Activities for Quarter Ended 31 March 2024
HIGHLIGHTS:
Lyndon Uranium/Lithium/REE
- New Rock chip assay results up to 6,612ppm U3O8 at the Baltic Bore and Jailor Bore prospects
- 12 rock chips returned assays >1,000ppm U3O8
- 5 rock chips returned assays >1,000ppm V2O5
- Uranium anomalism spans strike lengths of 2.6km at Baltic Bore and 2km at Jailor Bore
- Lyndon Project Immediately adjoins Paladin Energy’s Carley Bore Uranium Project (15.6MLbs U3O8)
Relief Well Uranium Project (Lyndon):
- Relief Well Uranium Prospect immediately adjoins Paladin Energy’s Carley Bore Uranium Project
- (15.6MLbs U3O8 announced resource)1
- Extensive 8km long palaeochannel confirmed at Relief Well, prospective for roll-front style uranium mineralisation
- Drill planning underway for testing of roll-front uranium mineralisation at Relief Well
Gascoyne East:
- Completion of lithological and structural interpretation from geophysical datasets
- PoW approval for Phase 1 aircore drilling to assist bedrock mapping
- Geophysical interpretation has confirmed drill targets for:
- Intrusion-related porphyry and Iron Oxide Copper-Gold (IOCG) mineralisation
- Magmatic Ni-Cu-PGE mineralisation within a distinct layered mafic intrusion
- Orogenic and intrusion-related gold mineralisation within the Dalgaringa Supersuite and Camel Hills Metamorphics.
- Intrusion-related gold and base metal deposits within the Edmund Basin
- Sedimentary-hosted base metal deposits in the Edmund Basin analogous to the Abra deposit
- At-surface uranium targets identified through airborne radiometric survey data
Odessa’s Executive Director, David Lenigas, commented:
“It’s been a very active and successful exploration period for Odessa in the Gascoyne this past quarter, having identified very significant uranium prospects emerging at Lyndon returning some exceptional grades up to 6,600 ppm U3O8. Our exploration priorities in the Gascoyne are now swayed towards accelerating our uranium targeting at Lyndon and readying the uranium prospects for drilling later this quarter if possible. We are also excited with what we are seeing now at Gascoyne East with the detailed interpretation of the airborne survey highlight excellent gold copper and uranium targets. Detailed planning for air-core and RC drilling is now well underway and should also start later this quarter or early next quarter.”
Figure 1: Odessa Minerals regional Gascoyne Project location map overlain with Geological Survey WA Minedex Occurrences.
Lyndon Uranium/Lithium/REE Project
Lyndon Project Overview
The Lyndon Project is located on the margin of the Carnarvon Basin and Gascoyne Complex approximately 200km south of Onslow and 200km NE of Carnarvon, in Western Australia. The project consists of over 1,000km2 of exploration licenses and applications.
Click here for the full ASX Release
This article includes content from Odessa 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.
Maiden Exploration to Commence at Summit’s Brazilian Niobium Projects
Summit Minerals Limited (ASX: SUM) (“Summit” or the “Company”) is pleased to announce that it will commence exploration over its 100% owned Ecuador Niobium and REE Project situated in the Borborema Pegmatitic Province (BPP) in the Paraiba State, Northeast Brazil. This pegmatitic province is an important market source of Niobium, Spodumene and quality Gemstones.
HIGHLIGHTS
- Summit to commence a systematic exploration program at its 100% owned Ecuador and Juazerinho Niobium projects aimed at defining initial priority drill targets.
- Due diligence completed by Summit has highlighted the presence of prospective LCT pegmatites at Ecuador, which have seen prior informal mining and extraction of Niobium / Tantalite mineralization from with these LCT pegmatites.
- Previous surface sampling results included1:
JUAZERINHO ASSAYS (Niobium & REE)
- 355,400ppm or 35.54% (Na2O5) + 14,080ppm pREO or 1.408% PREO (SID 099/24)
- 107,010ppm or 10.7% (Na2O5) + 142,080ppm pREO or 14.208% PREO (SID 098/24)
ECUADOR ASSAYS (Niobium + REE)
- 303,400ppm or 30.34% (Na2O5) + 15,130ppm pREO or 1.513% PREO. (SID 100/24)
- Exploration will include focused geological mapping, outcrop & sub crop channel sampling, trenching, and pitting (where appropriate).
- In parallel with the ground-based exploration activities the company is planning an orientation high resolution UAV (drone) magnetics survey aimed at defining signatures associated with known mineralization which, in conjunction with the mapping and geochemical results can be used to focus in on initial targets for drill testing.
- An experienced, locally based Brazilian geological team will commence on-site exploration activities and initiate the necessary drill permitting processes immediately.
Figure 1 - Location and of the Equador and Juazeirinho Project (Summit 100%)
Exploration Program
The geological due diligence completed by Summit highlighted the presence of prospective LCT pegmatites at Ecuador, some of which have seen prior exploitation of Niobium / Tantalite mineralization associated with these LCT pegmatites.
This week, Summit is deploying an experienced in country geological team to commence a systematic exploration program focused on the Ecuador Niobium and REE project. This early exploration phase will include detailed geological mapping, outcrop sampling, channel sampling and where appropriate trenching and pitting.
In parallel with the ground-based exploration activities the company is planning to perform an orientation high resolution UAV (drone) magnetics survey aimed at defining signatures associated with known mineralization. Data gained from these activities will inform preliminary drill targeting.
Regular updates on the exploration program’s progress and results will be provided to the market.
Click here for the full ASX Release
This article includes content from Summit Minerals 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.
Will Changes to Canada's Capital Gains Tax Hurt Mining Investment and Innovation?
On April 16, the Canadian government tabled its 2024 budget proposal. Called "Fairness for Every Generation," it is aimed at helping Millennials and Gen Zs, with C$535 billion earmarked by the Trudeau government for investments in housing, clean economy initiatives, childcare, healthcare and national security.
But one section of the document has garnered widespread attention — changes to the capital gains tax scheme.
Starting on June 25, 2024, changes to Canada's tax system will aim to “enhance fairness” by adjusting the inclusion rate for capital gains. Individuals with over C$250,000 in annual capital gains will see their inclusion rate increase from one-half to two-thirds, while those with gains below this threshold will maintain the 50 percent inclusion rate.
Corporations and trusts will face a two-thirds inclusion rate for all capital gains. These adjustments seek to create a more equitable taxation framework across different income brackets and entities.
“Tax fairness is important for every generation, and it is particularly significant for younger Canadians,” budget documentation explains. “In 2021, only about 5 percent of Canadians under 30 had any capital gains at all. Only 0.01 percent of Canadians under 30 are expected to have capital gains above the $250,000 annual threshold in 2025.”
While the government has emphasized that the capital gains tax revision upholds its commitment to progressive taxation as a cornerstone of fairness and Canadian prosperity, a variety of people and companies have voiced opposition, fearing that the changes will create a mass exodus of businesses and entrepreneurs from Canada.
Harley Finkelstein, president of Shopify (NYSE:SHOP), Canada's third largest publicly traded company, shared his thoughts via X, formerly known as Twitter, saying the proposed budget will penalize innovators and entrepreneurs.
The Liberal government’s ongoing deficit was also a target of analysts and experts.
“The entire budget proposal is a disaster, worse than my already low expectations,” Rick Rule, proprietor at Rule Investment Media, told the Investing News Network. “When might the budget balance itself? Never!”
Rule was also critical of the proposed capital gains tax reform.
“The government taxes success to subsidize failure, reducing that amount of capital available to successful, experienced investors to be allocated by political hacks, with investment track records unblemished by success," he said.
Mining sector fears loss of investment and innovation
The 2024 spending plan prompted other reactions from the mining sector as well, with the Mining Association of Canada (MAC) and the Prospectors & Developers Association of Canada (PDAC) both releasing statements.
The MAC pointed to the government’s plans to extend the Mineral Exploration Tax Credit (METC) until March 31, 2025, as a win for the junior mining sector, but noted that the decision to increase the inclusion rate for corporations and trusts, as well as individuals, could significantly diminish the effectiveness of the METC.
“(The) budget has pros and cons,” said MAC President and CEO Pierre Gratton.
Aside from the METC extension, the MAC said the pros include changes to the Clean Technology Manufacturing Investment Tax Credit (CTM-ITC), which will now include the cost of eligible property primarily used for producing qualifying critical minerals, provided that at least 50 percent of the production value is dedicated to this purpose.
This update reflects concerns raised by MAC earlier this year — the original CTM-ITC proposal had suggested a 90 percent threshold that the MAC said would have significantly restricted the tax credit's applicability and effectiveness in encouraging new investments in mining and mineral processing.
“The proposed new threshold for the CTM-ITC is welcome, but the changes to capital gains may undermine the METC and harm mineral exploration financing,” explained Gratton in his statement. “We applaud the government’s ambitions with respect to project timelines, but the real success will come down to implementation; we look forward to working with the government to make sure that mines in Canada can be approved and brought online in timelines that are more responsive to the urgent need for Canadian minerals and metals.”
This sentiment was echoed by PDAC. The mineral exploration and development organization, which has more than 7,000 members globally, acknowledged that the METC term increase is a beneficial milestone for the nation’s exploration sector, but expressed concerns about the capital gains tax adjustment.
“Such an increase will reduce the amount of available capital for junior exploration and development companies and create major headwinds for investment into Canadian industry more broadly,” warned PDAC.
“Without careful consideration, the proposed tax increase could put us on track to fall short on the critical mineral and other federal strategies, and we cannot risk losing momentum in building our capacity to discover and connect new mineral deposits to domestic supply chains," the organization also notes.
In February, ahead of the proposed federal budget, PDAC issued a list of six recommendations.
Its suggestions are primarily focused on fostering growth and innovation within the Canadian mineral exploration and mining sector. It includes proposals related to tax measures, regulatory enhancements, research and development incentives, infrastructure investments, Indigenous engagement and international trade promotion.
Related to the capital gains tax, the organization proposed the following: “That the government adjust the capital gains tax treatment for flow-through shares to reflect the issue price of the security versus the current nil cost base approach to expand participation in this funding mechanism by a broader base of investors within Canada."
PDAC also emphasized the importance of supporting the mining industry's competitiveness, sustainability and contribution to economic development and job creation in Canada.
“PDAC will be unwavering in voicing how uniquely Canadian investment incentives like flow-through shares and exploration tax credits must remain well-oiled and ingrained in our financial landscape,” the statement reads. “And we will remain steadfast in our call that Canada must expand its public geoscience knowledge-base and incorporate this information into our national strategies and land management processes.”
For Brian Leni, editor and founder of Junior Stock Review, the government’s move to change capital gains tax rubric is likely to weigh heavily on the already challenged junior mining landscape. “Money flows to where it is treated best,” he told the Investing News Network via email. “I don't think this situation will be any different.”
In recent years, Canada’s junior mining sector has faced various challenges, including regulatory complexities, limited access to capital and volatile commodities prices.
“Canada's position as a top-tier destination for mining investment continues to erode,” continued Leni. “Raising the capital gains tax on the group of investors who infuse the most amount of money is a grave mistake, but unfortunately, I wouldn't expect anything less from the government. That isn't a bipartisan comment either, left or right. With debts at all-time highs, inflation still persistent, to me it's just a matter of time before they come for us all.”
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
IND Establishes HPQ Exploration Target at Pippingarra Project
Industrial Minerals Ltd (ASX: IND or the Company) is pleased to announce a Maiden Exploration Target for High Purity Quartz (HPQ) at its Pippingarra Quarry Project (Pippingarra) located 30km south-east of Port Hedland, in the Pilbara region of Western Australia (Figure 1).
Highlights
- IND’s recent RC drilling program informs a Maiden High Purity Quartz (HPQ) Exploration Target at the Pippingarra Quarry Project.
- Drilling is planned for the exploration target area and to test several quartz occurrences mapped across the wider Mining Lease area.
- IND plans to commence work on a HPQ Mineral Resource Estimate in parallel with metallurgical testwork being conducted by potential offtake partners and third-party mineral processing laboratories.
- A 300kg Pippingarra quartz sample crushed from existing quarry stockpiles sent to China in late 2023 produced a >GG.GG4% SiO2 end product following standard HPQ processing1.
- A further 24 tonne bulk sample comprising crushed quartz rock has been shipped to China for processing, metallurgical test work, and assessment by potential offtake partners.
Figure 1: IND Pippingarra Quarry Project location and infrastructure.
In October 2023, IND announced the agreement of binding terms2 with North West Quarries Pty Ltd (NWQ) for an exclusive option to acquire an 80% interest in the non-construction material mineral rights.
Jeff Sweet, Managing Director of Industrial Minerals, commented:
“Following on from one of our potential offtake partners in China achieving a processed High Purity Ǫuartz product grading >SS.SS4% SiO2, we are extremely positive about the potential to supply Pippingarra quartz into high-end quartz markets.
“The Pippingarra Exploration Target is limited to an area where IND completed RC drilling in late 2023, to the east of the existing open pit. There are several quartz outcrops mapped across the broader Mining Lease area that will also be drilled with the intention to include these untested HPǪ target opportunities in the upcoming Mineral Resource Estimate (MRE) for Pippingarra.
“Our motivation to commence work towards a MRE is to leverage our unique position of having an active mining operation at the Pippingarra Ǫuarry. We believe this will give potential offtake partners the confidence to enter into offtake agreements with IND, knowing that we can rapidly advance to be mine ready and have a suitable mine life to support long term supply needs.”
Maiden High Purity Quartz Exploration Target
Table 1: Pippingarra HPQ Exploration Target range.
The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code.
The Exploration Target is based upon the Reverse Circulation (RC) Drilling program completed by IND in December 2023. Drilling was conducted on a 50m x 50m spacing. From this, holes INRC003 – INRC009 recorded thicknesses of white crystalline quartz over widths from 12m to 20m as reported in the Table 2 below.
Click here for the full ASX Release
This article includes content from Industrial Minerals 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.
China-Based Battery Grade High-Purity Manganese Production Strategy
Investor Site Visit Presentation - April 2024
BUILDING A LOW-COST HIGH-PURITY MANGANESE SULPHATE PLANT
Unique, Low-Cost, Speed-to-Market Strategy
Successfully executing a high-purity manganese sulphate strategy to supply into the rapidly expanding LMFP battery market . Investor Site visit in China to demonstrate the compelling opportunity for Firebird to establish itself as a key, low-cost, near-term producer
Sustainable Economics and Perfect Timing
Firebird to become of one of the lowest-cost battery grade MnSO4 producers, placing the Company in a competitive position in all market environments, at a time when the LMFP market is forecasted for exponential growth and become a >US$20 billion market by 2030
Management, Board and In-Country Team with Sector Leading Credentials
Led by a Board and Management team with proven abilities of building companies through the lifecycle and into production. Assembled a proven and high-quality team in China, who are leaders in the development and production of high-purity manganese
Well-Funded and Supported
Strong cash position of $7.36m (as of 31 Dec 2023) to fund key workstreams across China strategy and at Oakover. Firebird has attracted a strong investor register supported by a highly-reputable investor Canmax Technologies Co., Ltd with a 9.7% holding
DEVELOPMENT PROGRESS IN CHINA CONTINUING AS PLANNED
- Preliminary design work, R&D centre, equipment supplier due diligence & project permitting are all being progressed at full speed
- Estimated permitting & design on track for completion by late Q3 2024
- European customer site visits & off-take discussions commenced with excellent feedback
- Formal advice from Jinshi Government & relevant departments on process to repatriate profits and capital from operations
- As further proof of the strong levels of support in-country, Firebird will also receive a preferential tax rebate for 6 years
- Australian investor & broker site visit to key areas in China, including Jinshi High-Tech Industrial Park, Pilot Plant and Jinshi Port to take place on April 23
- Oakover project development continues as planned and forms an integral part of Firebird’s long term manganese battery materials strategy
Click here for the full ASX Release
This article includes content from Firebird Metals 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.
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.