Connect with us

Australia

Canyon Resources progresses towards Minim Martap Bauxite Project PFS

Canyon Resources Ltd (ASX:CAY) is on track to deliver the pre-feasibility study for its Minim Martap Bauxite Project in Cameroon, Africa, in the near future.

The company completed a scoping study in November 2019 which supports a two-stage, two-port development strategy for the project.

This involves exporting bauxite through the Douala port as a stage-1 standalone project, with a higher output planned for stage-2, which would use the Kribi deep-water port.

Stage one export[hhmc]
The first stage will use existing rail and Doula port infrastructure, with no rail line upgrades needed to transport ore from the Minim Martap project area.

Douala Port connects directly to the current rail line and there are no other bulk tonnage projects along the rail route competing for access.

Additionally, there are opportunities to transship from Douala to larger ships offshore.

The company is confident that using existing infrastructure could prove a profitable avenue for the 3 million tonnes per..

Canyon Resources Ltd (ASX:CAY) is on track to deliver the pre-feasibility study for its Minim Martap Bauxite Project in Cameroon, Africa, in the near future.

The company completed a scoping study in November 2019 which supports a two-stage, two-port development strategy for the project.

This involves exporting bauxite through the Douala port as a stage-1 standalone project, with a higher output planned for stage-2, which would use the Kribi deep-water port.

Stage one export


The first stage will use existing rail and Doula port infrastructure, with no rail line upgrades needed to transport ore from the Minim Martap project area.

Douala Port connects directly to the current rail line and there are no other bulk tonnage projects along the rail route competing for access.

Additionally, there are opportunities to transship from Douala to larger ships offshore.

The company is confident that using existing infrastructure could prove a profitable avenue for the 3 million tonnes per annum expected during stage one production.

Stage two infrastructure


The second stage will use the Kribi Port, the only deepwater port in Central West Africa, to unlock higher export volumes and lower operating costs.

The inner harbour has a depth of 16 metres draught which provides capacity for up to post panamax direct ship loading and with near-shore outer harbour depths of over 20 metres, there is potential for direct ship loading to Cape Class vessels.

The port surrounds are also underutilised and area is available nearby for bauxite stockpiles.

While existing, available and operational rail and port infrastructure provides a fast pathway to market, the use of the Kribi Port will require a 130-kilometre rail link to the existing rail line.

Project locations relative to existing infrastructure

Potential resource upside


The JORC 2012-compliant mineral resource estimate is 892 million tonnes at 45.1% aluminium oxide and 2.8% silicon dioxide, representing a tier-1, very high-grade, low silica resource, and includes:

  • Very high-grade zone of 431 million tonnes at 48.8% aluminium oxide and 2.6% silicon dioxide (total); and
  • Strategic mine scheduling shows 50% aluminium oxide and less than 2% silicon dioxide from within the high-grade zone.

Minim Martap has the same high-grade, low contaminant bauxite as the largest high-grade deposits in Guinea and is the only Guinea-style deposit of this scale and grade outside of Guinea.

Canyon believes the project will provide an alternative to Guinea bauxite supply reliance.

Global bauxite market


With approximately 50% of all global seaborne bauxite being exported from Guinea, and more than half of Chinas bauxite imports also coming from Guinea, the company believes that major alumina producers are now considering Cameroon bauxite from Minim Martap as a geopolitical hedge and a means of diversifying the concentration of supply of the West African very high-grade bauxite and reliance on one country.

Key factors behind the growing demand globally for high-grade product include;

  • The seaborne bauxite market has grown by 255% since 2010 and forecast to continue to grow;
  • Traditional mines located next to refineries are depleting higher grade bauxite supplies;
  • Refiners globally are sourcing and importing high grade, lowRead More – Source
Continue Reading

Australia

VIP Gloves set to benefit from strong outlook for glove market as outlined in new research report

VIP Gloves Ltd (ASX:VIP) looks set to benefit from strong glove market fundamentals with glove demand expected to remain robust driven by COVID-19, the upcoming US flu season and the discovery of a new swine flu strain in China, according to Macquarie Research.

The research bank expects strong earnings growth to continue for glove manufacturers in 2021, which may cause a further re-rating of the sector.

Nitrile gloves

VIP Gloves manufacturers nitrile gloves, which according to Macquarie Bank, are Type-1 allergy-free, puncture-resistant, have good barrier protection against infection and contamination and are suitable in medical and high-risk tasks.

The company said sales orders had been filled through to the second quarter of 2021, with recent orders at higher sale prices which vary, depending on the specifications and volume.

These gloves are manufactured in Malaysia.

Research note[hhmc]
In a research note titled 'Malaysia Rubber Gloves: 2nd wave is coming; Get ready for th..

VIP Gloves Ltd (ASX:VIP) looks set to benefit from strong glove market fundamentals with glove demand expected to remain robust driven by COVID-19, the upcoming US flu season and the discovery of a new swine flu strain in China, according to Macquarie Research.

The research bank expects strong earnings growth to continue for glove manufacturers in 2021, which may cause a further re-rating of the sector.

Nitrile gloves

VIP Gloves manufacturers nitrile gloves, which according to Macquarie Bank, are Type-1 allergy-free, puncture-resistant, have good barrier protection against infection and contamination and are suitable in medical and high-risk tasks.

The company said sales orders had been filled through to the second quarter of 2021, with recent orders at higher sale prices which vary, depending on the specifications and volume.

These gloves are manufactured in Malaysia.

Research note


In a research note titled 'Malaysia Rubber Gloves: 2nd wave is coming; Get ready for the ride', the bank said its investment thesis of a shortage of gloves was still intact as an additional capacity of around 70% next year was only expected to come on board late in the second quarter of 2021.

It said the sector had not seen the peak in glove demand yet, especially with a new swine flu strain in China and the upcoming flu season in the US which peaks between December and February.

“This should support overall glove demand until first half 2021 and only gradually normalise in second half 2021, having assumed a vaccine is available in mid-2021.”

Macquarie Bank said despite ambitious expansion plans from Chinese manufacturers, they would not pose an immediate threat to Malaysian manufacturers as most capacity increases in China would only gradually start in late second quarter 2021 and be rolled out on a staggered basis.

Although there is a potential oversupply risk in 2022, Macquarie Bank analyst Denise Soon said this concern “can be easily eased with the deferment of expansion plans (which we have seen in the past) or absorption from higher China domestic consumption.”

COVID-19 vaccine


Global demand for gloves is expected to normalise gradually when there is a vaccine, which will take stages to commercialise globally.

Soon said vaccine from Pfizer inc (NYSE:PFE) and German group BioNtech (NASDAQ:BNTX) had shown promising results in early testing and looked to be on track to have the first shot in early 2021.

Despite COVID-19, Macquarie Bank notes that gloves are staples within the healthcare industry and foresees continued shortages in 2021. It projects strong earnings growth to continue for glove manufacturers in 2021 estimates.

New COVID-19 cases, flu season


“New cases globally continue to be on the rise, especially in the United States, Brazil and India. In addition, some countries ie Israel, China, Korea, Europe, are currently undergoing a second-wave of COVID-19.”

As most of the vaccines are still under Phase II clinical trials, it suggests that the availability of a vaccine will likely be in mid-2021.

Macquarie Bank highlighted that the last flu season in 2019 was “one of the worst in five years”. It believes the US healthcare system will be prepared for the annual flu season by stocking up personal protective equipment (PPE) such as medical gloves. The expected stocking up activity should support demand growth in the first half of 2021.

New swine flu


Further a new type of swine flu that can Read More – Source

Continue Reading

Australia

Mali Lithium in trading halt ahead of announcement around Goulamina mineral resources increase

Mali Lithium Ltd (ASX:MLL) has been granted a trading halt with an announcement pending in regard to a potential increase in Goulamina Lithium Project resources in Mali, West Africa.

Unless ASX decides otherwise, the securities will remain in a trading halt until the earlier of the start of normal trading on Wednesday, July 8, 2020, or when the announcement is released to the market.

Before the halt shares were up more than 30% to 15 cents and have risen from 4.1 cents at the close on April 7.

Strong lithium results[hhmc]
In June, the company received strong and broad lithium results from RC drilling at the Danaya zone of the Goulamina project, including:

64 metres at 1.85% Li2O from 121 metres;
81 metres at 1.47% from 63 metres;
72 metres at 1.73% from 125 metres;
57 metres at 1.38% from 57 metres and 35 metres at 1.48% from 162 metres;
38 metres at 2.00% from 74 metres;
46 metres Read More – Source
[contf]
[contfnew]

Proactiveinvestors
[contfnewc]
[contfnewc]

Mali Lithium Ltd (ASX:MLL) has been granted a trading halt with an announcement pending in regard to a potential increase in Goulamina Lithium Project resources in Mali, West Africa.

Unless ASX decides otherwise, the securities will remain in a trading halt until the earlier of the start of normal trading on Wednesday, July 8, 2020, or when the announcement is released to the market.

Before the halt shares were up more than 30% to 15 cents and have risen from 4.1 cents at the close on April 7.

Strong lithium results


In June, the company received strong and broad lithium results from RC drilling at the Danaya zone of the Goulamina project, including:

  • 64 metres at 1.85% Li2O from 121 metres;
  • 81 metres at 1.47% from 63 metres;
  • 72 metres at 1.73% from 125 metres;
  • 57 metres at 1.38% from 57 metres and 35 metres at 1.48% from 162 metres;
  • 38 metres at 2.00% from 74 metres;
  • 46 metres Read More – Source
Continue Reading

Australia

Matador Mining directors show faith in gold strategy with placement participation approved

Matador Mining Ltd (ASX:MZZ) directors have demonstrated their confidence in the companys gold exploration strategy by participating in a $5.2 million private placement concluded earlier this year.

The participation by executive chairman Ian Murray and executive director Keith Bowes was approved by MZZs shareholders at a general meeting held last month.

Director purchases[hhmc]
On July 1, Murray purchased 1 million shares valued at $200,000 in an indirect interest and this was his first purchase of fully paid ordinary shares.

Also, on that date, Bowes acquired 150,000 shares valued at $30,000 in an indirect interest and now holds 190,000 shares in that interest.

The private placement to institutional, professional and sophisticated investors at a price of 20 cents per share raised $5.2 million.

Capital raising news upcoming[hhmc]
Matador Mining is currently in aRead More – Source

[contf]
[contfnew]

Proactiveinvestors
[contfnewc]
[contfnewc]

Matador Mining Ltd (ASX:MZZ) directors have demonstrated their confidence in the companys gold exploration strategy by participating in a $5.2 million private placement concluded earlier this year.

The participation by executive chairman Ian Murray and executive director Keith Bowes was approved by MZZs shareholders at a general meeting held last month.

Director purchases


On July 1, Murray purchased 1 million shares valued at $200,000 in an indirect interest and this was his first purchase of fully paid ordinary shares.

Also, on that date, Bowes acquired 150,000 shares valued at $30,000 in an indirect interest and now holds 190,000 shares in that interest.

The private placement to institutional, professional and sophisticated investors at a price of 20 cents per share raised $5.2 million.

Capital raising news upcoming


Matador Mining is currently in aRead More – Source

Continue Reading

Trending