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Greenland Minerals confident Kvanefjeld project can help meet long-term demand for rare earths

Greenland Minerals Ltd (ASX:GGG) is confident its Kvanefjeld project in Greenland is well-placed to take advantage of the long-term robust outlook for rare earth elements (REEs).

Despite the impacts of the COVID-19 pandemic on demand, prices for the full suite of rare earth elements have held their own during 2020 and the outlook is highly encouraging.

ADAMAS Intelligence has forecast that global annual demand for magnet rare earth oxides such as neodymium, praseodymium, dysprosium and terbium will increase by 150% through to 2030.

Upward pressure on prices[hhmc]
Meeting this demand will require current global production to double and when this is considered together with increasing production costs in China, the company believes there will be considerable upward pressure on prices over time.

This outlook creates an optimal development window for the Kvanefjeld Rare Earths Project given its advanced status, favourable production profile across all key magnet REEs, and competitive c..

Greenland Minerals Ltd (ASX:GGG) is confident its Kvanefjeld project in Greenland is well-placed to take advantage of the long-term robust outlook for rare earth elements (REEs).

Despite the impacts of the COVID-19 pandemic on demand, prices for the full suite of rare earth elements have held their own during 2020 and the outlook is highly encouraging.

ADAMAS Intelligence has forecast that global annual demand for magnet rare earth oxides such as neodymium, praseodymium, dysprosium and terbium will increase by 150% through to 2030.

Upward pressure on prices


Meeting this demand will require current global production to double and when this is considered together with increasing production costs in China, the company believes there will be considerable upward pressure on prices over time.

This outlook creates an optimal development window for the Kvanefjeld Rare Earths Project given its advanced status, favourable production profile across all key magnet REEs, and competitive cost structure.

Well-placed to meet demand


The company considers Kvanefjeld is one of the worlds most important emerging rare earth projects and will position Greenland to become a globally significant supplier of materials that are key to an energy efficient and environmentally sustainable future.

REEs make the worlds strongest permanent magnets and this continues to be a major growth area owing to the essential requirement of high-powered magnets in electric vehicles (EVs) and renewable energy sources such as wind turbines.

Notably, ADAMAS has forecast a strong recovery for EV sales in 2021 and 2022 which fell in the first half of 2020 and Kvanefjeld is well-placed to be developed to meet this growing rare earth demand.

Low-cost mine life


At a planned processing rate of 3 million tonnes per year, Kvanefjeld will be a globally significant producer of light REE magnet metals neodymium and praseodymium as well as a producer of strategically significant heavy REEs terbium and dysprosium.

The project has an initial mine life of 37 years based on a 108 million tonne ore reserve (JORC 2012), however, this represents only 10% of the broader resource based.

At current prices, rare earths are forecast to contribute over 90% of project revenues, however, the by-product revenue generated through the by production of uranium, zinc and fluorspar (metspar) and low cost of by-product recovery ensures that unit REE production costs remain very low.

By-product benefits


Based on projected forecast pricing, by-products will generate almost US$60 million in annual revenue for the project, the equivalent of a credit against the cost of producing REEs of approximately US$1.90/kilograms of RE or 40% of the cost of producing a RE intermediate product in Greenland.

The annual cost of removing around 475 tonnes per annum of uranium will be less than US$5 million with uranium sales expected to add in excess of US$45 million annually to project revenue.

Kvanefjed will also annually produce around 6,000 tonnes of zinc in concentrate which will generate approximately US$6 million or 1% of annual revenue.

The zinc concentrate will contain about 50% zinc which is comparable to other zinc concentrates traded internationally.

Kvanefjeld will also produce around 12,500 tonnes per annum of metallurgical grade fluorspar (Metspar) which is Read More – Source

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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

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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

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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

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