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Platina Resources – A once in a Blue Moon opportunity

Platina Resources Limited (ASX:PGM) has a portfolio of projects in Australia, Greenland and the USA (Figure 1). These projects cover a variety of metals including scandium, gold, platinum group metals (PGM), zinc and copper.

Corey Nolan is the managing director of the company. He has more than 25 years experience in the acquisition, funding, exploration and development of natural resources projects. He was previously the chief executive officer of Sayona Mining Ltd (ASX:SYA) and managing director of Leyshon Resources Limited and Elementos Limited (ASX:ELT). He is currently also a non-executive director of Elementos.

Figure 1: Location of Platina Resources projects

Source Platina Resources

The 100%-owned Owendale Scandium Project is located in New South Wales, Australia (Figure 2). The company completed a definitive feasibility study (DFS) at the project in 2018, which defined a post-tax net present value (using an 8% discount rate) of US$166mln and a post-tax internal rate of retur..

Platina Resources Limited (ASX:PGM) has a portfolio of projects in Australia, Greenland and the USA (Figure 1). These projects cover a variety of metals including scandium, gold, platinum group metals (PGM), zinc and copper.

Corey Nolan is the managing director of the company. He has more than 25 years experience in the acquisition, funding, exploration and development of natural resources projects. He was previously the chief executive officer of Sayona Mining Ltd (ASX:SYA) and managing director of Leyshon Resources Limited and Elementos Limited (ASX:ELT). He is currently also a non-executive director of Elementos.

Figure 1: Location of Platina Resources projects

Source Platina Resources

The 100%-owned Owendale Scandium Project is located in New South Wales, Australia (Figure 2). The company completed a definitive feasibility study (DFS) at the project in 2018, which defined a post-tax net present value (using an 8% discount rate) of US$166mln and a post-tax internal rate of return of 29%.

Since completing the DFS, Platina has been seeking an offtake partner and lodging the mining lease application. During 2020, the company is continuing to work on a scandium offtake marketing programme, which is targeting potential customers in the USA, Europe, Asia and Australia.

Figure 2: The Owendale Scandium Project

Source Platina Resources

The Skaergaard Gold-PGM Project is located on the east coast of Greenland. The project is considered by Platina to be one of the worlds largest undeveloped gold deposits and one of the largest palladium resources outside of South Africa and Russia.

Skaergaard has a JORC 2012 compliant mineral resources estimate of 5.7 million ounces (moz) of gold and 8.7moz of palladium, which at current metal prices is 20moz of gold equivalent at a grade of 3 grams per tonne (g/t) gold equivalent. Platina is currently working to find a financial and technical partner to help develop the project.

At the Blue Moon Project, Platina is earning up to a 70% interest in the project by spending C$7m over 36 months. The Blue Moon Project is located in California, USA, around 150 kilometres (km) from the OaklanRead More – Source

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Australia

Great Western Exploration appoints executive chairman

Great Western Exploration Limited ASX:GTE) has appointed current non-executive chairman Kevin Somes to the position of executive chairman effective immediately.

Somes has agreed to assume the role as executive chairman with no increase to his non-executive remuneration package of $55,000 per annum plus superannuation.

Other appointments[hhmc]
Jordan Luckett has stepped down as managing director for personal reasons but will continue to provide support in his new role as technical direRead More – Source

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Proactiveinvestors
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Great Western Exploration Limited ASX:GTE) has appointed current non-executive chairman Kevin Somes to the position of executive chairman effective immediately.

Somes has agreed to assume the role as executive chairman with no increase to his non-executive remuneration package of $55,000 per annum plus superannuation.

Other appointments


Jordan Luckett has stepped down as managing director for personal reasons but will continue to provide support in his new role as technical direRead More – Source

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Australia

Pure Minerals receives coverage from Independent Investment Research

Pure Minerals Ltd (ASX:PM1) has received research coverage from Independent Investment Research (IIR).

The 22-page report goes into detail regarding the proposed Townsville Energy Chemical Hub (TECH) Project in Queensland.

The report notes the building blocks are coming together quickly for the TECH Project with the pre-feasibility study (PFS) completed in December 2019 as well as the recently completed high purity alumina (HPA) scoping study.

Share price at deep discount to project's estimated NPV[hhmc]
Using a share price of 1.9 cents, the company has a market capitalisation of $16.1 million.

While the report does not designate a share price target, it does estimate a net present valuation (NPV) for the proposed TECH Project of between $47 million and $585 million.

The research firm does note the valuation relies on a number of factors including PFS assumptions and project approvals.

The following is an extract from the report:

VALUATION VERY SENSITIVE, BUT PRICE TREND PO..

Pure Minerals Ltd (ASX:PM1) has received research coverage from Independent Investment Research (IIR).

The 22-page report goes into detail regarding the proposed Townsville Energy Chemical Hub (TECH) Project in Queensland.

The report notes the building blocks are coming together quickly for the TECH Project with the pre-feasibility study (PFS) completed in December 2019 as well as the recently completed high purity alumina (HPA) scoping study.

Share price at deep discount to project's estimated NPV


Using a share price of 1.9 cents, the company has a market capitalisation of $16.1 million.

While the report does not designate a share price target, it does estimate a net present valuation (NPV) for the proposed TECH Project of between $47 million and $585 million.

The research firm does note the valuation relies on a number of factors including PFS assumptions and project approvals.

The following is an extract from the report:

VALUATION VERY SENSITIVE, BUT PRICE TREND POSITIVE

If we include the deferred consideration shares, Pure Minerals at A$0.019/sh would have a market capitalization of A$16.1M. Our NPV for the NiCo plant ranges from A$47M using the cycle price lows of the last three years to A$585M using cycle price highs over the last three years, and A$241M assuming current spot prices flat in real terms forever. The HPA bolt-on is additional value. These valuations are for the project only, and take no account of the cost of corporate overheads, nor of financing diRead More – Source

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Australia

Pure Minerals gains new substantial holder in managing director John Downie

Pure Minerals Ltd (ASX:PM1) has gained a new substantial holder in managing director John Downie.

Downie now holds 40.78 million shares increasing his stake in the company to 6.83%.

High-purity alumina (HPA) scoping study adds value[hhmc]
Pure recently received results for a scoping study evaluating the production of high-purity alumina (HPA) from its Townsville Energy Chemicals Hub (TECH) Project in Queensland.

The scoping study assessed the production of 4N HPA on a standalone basis, using the aluminium hydroxide as a feedstock.

This scoping study followed the December 2019 pre-feasibility study (PFS) on the TECH Project which identified the production of HPA as a key value-add opportunity for the project.

A 25-year operation producing 4,007 tonnes per annum (tpa) of 4N HPARead More – Source

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Proactiveinvestors
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Pure Minerals Ltd (ASX:PM1) has gained a new substantial holder in managing director John Downie.

Downie now holds 40.78 million shares increasing his stake in the company to 6.83%.

High-purity alumina (HPA) scoping study adds value


Pure recently received results for a scoping study evaluating the production of high-purity alumina (HPA) from its Townsville Energy Chemicals Hub (TECH) Project in Queensland.

The scoping study assessed the production of 4N HPA on a standalone basis, using the aluminium hydroxide as a feedstock.

This scoping study followed the December 2019 pre-feasibility study (PFS) on the TECH Project which identified the production of HPA as a key value-add opportunity for the project.

A 25-year operation producing 4,007 tonnes per annum (tpa) of 4N HPARead More – Source

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