Connect with us

Australia

ioneer’s two new agreements substantially complete Asian boric acid distribution and sales network

ioneer Ltd (ASX:INR) has secured two distribution and sales agreements for the supply of boric acid from its Rhyolite Ridge Lithium-Boron Project in Nevada, USA, substantially completing its Asian boric acid distribution and sales network.

The three-year boric acid distribution and sales agreements were signed with Kintamani Resources Pte Limited for the territories of Malaysia, Indonesia, Singapore, Thailand, Vietnam and the Philippines and with Boron Bazar Limited for the territories of Bangladesh, India, Pakistan and Myanmar.

The signing of these agreements completes the key components of ioneers current Asian boric acid marketing plan to secure direct offtake or distribution and sales agreements with recognised industry participants for most major Asian countries.

“High demand”[hhmc]
ioneers managing director Bernard Rowe said: “Signing these distribution and sales agreements is a significant milestone for ioneer as we look ahead to Rhyolite Ridge becoming operational.

“These a..

ioneer Ltd (ASX:INR) has secured two distribution and sales agreements for the supply of boric acid from its Rhyolite Ridge Lithium-Boron Project in Nevada, USA, substantially completing its Asian boric acid distribution and sales network.

The three-year boric acid distribution and sales agreements were signed with Kintamani Resources Pte Limited for the territories of Malaysia, Indonesia, Singapore, Thailand, Vietnam and the Philippines and with Boron Bazar Limited for the territories of Bangladesh, India, Pakistan and Myanmar.

The signing of these agreements completes the key components of ioneers current Asian boric acid marketing plan to secure direct offtake or distribution and sales agreements with recognised industry participants for most major Asian countries.

“High demand”


ioneers managing director Bernard Rowe said: “Signing these distribution and sales agreements is a significant milestone for ioneer as we look ahead to Rhyolite Ridge becoming operational.

“These agreements demonstrate the high demand for sustainably produced boric acid and further underpin the projects compelling economics.

“Boric acid sales are key in delivering an all-in sustaining cash cost for lithium from the Rhyolite Ridge project at the bottom of the global lithium cost curve.

“We are delighted that at this early stage, the first three years of production from Rhyolite Ridge are placed.

“These agreements continue to demonstrate our ability to sell boric acid and affirms the quality of our premium quality boric acid by respected boron industry partners.”

The recently released definitive feasibility study (DFS) shows that the first year of the operations production is secured by a binding offtake agreement while in year two 85% of production is secured and in year three 88% is secured.

The company anticipates years four and five of operations will fall to 70% secured as the three-year renewal options are not guaranteed, however, the shortfall in offtake in year two and beyond is expected to be met by North American offtake and sales in other Asian territories.

The territories covered by ioneers boric acid distributors in Asia

Key terms


Under the agreements, the parties have committed to minimum sales volume targets per annum of boric acid by territory.

The supply of boric acid to the distributors will be based on prevailing market prices for similar volumes and quality, and remain fixed for specified periods before being reset for the next period on a revolving basis through the term of the agreement.

The agreements each have a three-year term, with initial supply expected in quarter two 2023 as Rhyolite Ridge commences production and are conditional on ioneer making a positive final investment decision, which is expected in early 2021.

Key information required to make an FID includes advanced engineering, the award of all state and federal environmental and development permits, and an acceptable and executable funding plan for the project.

Asian marketing plan


These agreements are in addition to ioneers announcement on December 18, 2019, of its foundational binding offtake agreement with Dalian Jinma Boron Technology Group Co Ltd for 105,000 tonnes per annum of boric acid which included a distributiRead More – Source

Continue Reading

Australia

Argonaut Resources directors show faith in company by participating in oversubscribed SPP

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP[hhmc]
The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money ..

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP


The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money raised under this SPP and from the recently completed $2.7 million share placeRead More – Source

Continue Reading

Australia

Strickland Metals shares jump 39% ahead of drilling base metal target near DeGrussa

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey[hhmc]
Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilomet..

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey


Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilometre strike.

Diamond core drilling


The company plans to start the diamond core drilling by the end of this month.

A multi-purpose drill rig has been contracted to enable the minimum planned program wRead More – Source

Continue Reading

Australia

Pan Asia Metals has positive discussions on plans for Thai lithium project

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions[hhmc]
Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Ng..

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions


Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Nga Provincial Public Works and Town Planning Office.

Phang Nga Provincial Industry head has been appointed by the Phang Nga governor as chairman of the Phang Nga New Town Planning Committee.

During the meeting, the chairman of the committee conveyed its support for the Reung Kiet Lithium Project.

PAO wants to ensure that the requirements of the Reung Kiet project are incorporated into the town planning committee’s zoning plans to ensure that the project can progress once exploration and feasibility results prove positive.

“Can bring opportunities”


PAM managing director Paul Lock said: “We have been working hard in Phang Nga province and we are very happy with the positive reception that the Reung Kiet Lithium Project is receiving from the Phang Nga Provincial Government and surrounding communities.

“Reung Kiet is strategically located and based on peer feasibility work the project is positioned to potentially be one of the lowest-cost suppliers of lithium chemicals in the global peer group.

“This is a project that can bring substantial opportunities and value to Phang Nga and Thailand.”

Pan Asia is planning its second Reung Kiet drilling program with expectations that this will begin in the coming months following the conclusion of the current Khao Soon drilling program.

Potential cost curve leader


Reung Kiet is a hard rock project with lepidolite rich pegmatites chiefly composed of quartz, albite and lepidolite with minor cassiterite and tantalite as well as other accessory minerals including some rare earth.

Lepidolite does not require roasting and has a suite of by-products which are recoverable at the concentrator and processing stages of the flow sheet.

Peer feasibility work has Read More – Source

Continue Reading

Trending