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Richard Clemmey, managing director, said development progress had been slower than hoped due to delays in permitting at Storuman in Sweden, but its search for fluorspar project acquisitions had moved forward with one project now at an advanced stage of talks.
The Possehl deal was also a critical building block for the company, he said.
“This strategic relationship not only provides us with the opportunity, and competitive advantage, to secure long-term sales contracts but also access to pre-financing once the definitive Offtake Agreement is signed as we move closer to mine development and production.”
“It is also pleasing to see the fluorspar market and prices improve during the latter part of 2017 and we look forward to this trend continuing,” he added.
Tertiary noted that its team at the MB project in Nevada received the Bureau of Land Management’s (BLM) 2017 Hardrock Small Operator Award (National award) for outstanding and innovative reclamation and sustainable mineral development work on the project.
“As we head into 2018, with rekindled investor interest in the company, we have a number of irons in the fire,” Clemmey added.
Losses for the year to September were £395,000 (£473,000) on revenues of £241,000.
Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to announce that its 100% owned subsidiary, Tertiary Minerals US Inc., has been chosen to receive the Bureau of Land Management’s (BLM) 2017 Hardrock Small Operator Award for its outstanding and innovative reclamation and sustainable mineral development work on the Company’s MB Fluorspar Project in Nevada.
- The US Company received the award at an awards luncheon hosted by the National Mining Association (NMA) and the U.S. Department of Interior held in Washington DC on 06 November 2017
- The US Company is one of only two winners selected for the 2017 Hardrock Small Operator Award – one of five categories of awards under the BLM’s Reclamation and Sustainable Minerals Development Awards Programme
- The US Company was nominated for the award by the regional BLM Mount Lewis Field Office
- The official press release by the NMA can be viewed using the link below:
Commenting today, Managing Director, Richard Clemmey said: “We are delighted to receive this prestigious award which is a testament to the operational and environmental excellence the Company strives for and to the quality of the carefully selected contractors employed on our operations. I would like say a special thank you to our consulting geologists, Hunsaker Inc, and earthmoving contractors, DV Gravel & Exploration LLC, for their continued hard work and commitment to the MB Project, without which the award would not have been possible”.
Tertiary Minerals plc
Richard Clemmey, Managing Director
Patrick Cheetham, Executive Chairman
+44 (0) 1625 838 679
SP Angel Corporate Finance LLP
Nominated Adviser & Joint Broker
Ewan Leggat/Lindsay Mair
+44 (0) 20 3470 0470
Beaufort Securities Ltd
+44 (0)20 7382 8300
Notes to Editors
Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada, USA (MB Project).
The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.