Home » Posts tagged 'metals'
Tag Archives: metals
Power Metal Resources #POW – Tati Gold Project, Botswana – Exploration Update
Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an exploration update from its 100% owned Tati Gold Project (“Tati” or the “Project”) located on the Tati Greenstone Belt (“TGB”) near Francistown, Botswana. The 2023 exploration programme including geophysics, trenching, soil sampling as well as reverse circulation (“RC”) and/or diamond drilling was launched on 26 January 2023 and the announcement providing further information may be viewed through the following link:
Highlights
– Ground geophysics and trenching have been completed with available results presented herein. A longer than usual rainy season led to the delay in the commencement of the planned infill soil geochemical sampling programme. However drier conditions have now persisted long enough for the Company to launch this next phase of work, which is expected to commence shortly.
– Detailed geological mapping of the recently completed trenches has confirmed the geological setting in the Cherished Hope Mine area which is highlighted by gold mineralisation which is concentrated within quartz reefs (massive veins, veinlets and silicified zones) hosted within predominantly diorite units.
– Analysis of ground magnetic geophysics results have highlighted the location of multiple post-mineralisation dolerite dykes which are known to persist throughout much of the TGB. Understanding the precise location of these dykes is paramount as exploration continues to progress at Tati.
– Following completion of the upcoming infill soil sampling programme – as well as the receipt of the soil assay results – next exploration steps, including planned reverse circulation and/or diamond drilling, will be finalised and communicated to the market.
Sean Wade, Chief Executive Officer of Power Metal Resources plc commented:
“I know shareholders have been keen to hear an update on Tati, and we are very pleased to be able to deliver that. We have made significant progress on this important project and we have further built our technical knowledge of the gold potential across the 8km gold-in-soil-anomaly. After the rainy season we now move into the next stage including the high-resolution infill soil sampling and, subject to review and interpretation of all results, exploration drilling. Economic processing of the tailings also remains a priority and we are actively exploring our options in that regard.
This work is being conducted in parallel with extensive other corporate and exploration activities across the Power Metal group and we anticipate regular news flow in the weeks and months ahead. Activity levels across the Company are able to accelerate, with the recently announced £2.7m financing providing considerable working capital to pursue our ambitious corporate growth objectives.”
FURTHER INFORMATION
Figure 1 – Tati Project Overview Plan Map:
Figure 2 – Tati Project Zoomed Trenching Plan Map:
EXPLORATION PROGRAMME OVERVIEW
|
Exploration Work |
Latest Update |
|
TRENCHING – COMPLETE A total of 431 metres of mechanised trenching has been successfully completed. Trenching was focussed along both the northwest and southeast strike-length extensions of the known outcropping gold mineralised quartz reef structures at Cherished Hope Mine. A total of 8 trenches were completed of which 3 targeted the northwestern strike-length extension and 5 targeted the southeastern strike-length extension. Trench samples, comprising 1m long composites taken along the side of the trench, were then sampled for gold (30g Fire Assay) at the ALS Laboratory in Johannesburg, South Africa. Detailed geological and structural mapping of the trenches was also completed.
|
Further breakdown of trenching results are found in ‘Notable Trenching Results Section’. Northwest Extension (Trench 3, 4, 7): Overburden was determined to be between 0-1.5 meters in thickness and composed predominantly of a brown clay-rich unit overlaying a poorly sorted quartz pebble unit. The bedrock is dominated by a quartz rich diorite. Only one post-mineralisation dolerite dyke was identified within the northwestern trenches. Multiple silicified and quartz rich zones were successfully identified in the northwestern trenches. Several of these quartz-rich intervals returned elevated gold results including: seven 1m intervals in Trench 3 which returned >0.2g/t Au (up to 1.9g/t Au). Southeastern Extension (Trench 1, 2, 5, 6, 8): Overburden was determined to be between 0-3 meters in thickness and composed predominantly of a brown clay-rich unit overlaying a poorly sorted quartz pebble unit. The bedrock is dominated by a quartz rich diorite. Four post-mineralisation dolerite dykes were identified which crosscut the diorites at various locales. Multiple silicified and quartz rich zones were successfully identified including in Trench 8 where they were determined to be the most abundant (furthest southwest trench). Several of these quartz-rich intervals returned elevated gold results including: Two 1m intervals in Trench 1 returning >0.2g/t Au and two 1m intervals in Trench 5 returning >0.2g/t Au. In general, the southeastern strike-length extension of Cherished Hope is highly affected by the presence of post-mineralisation dolerite dykes. Ground magnetic geophysics results highlight that beyond the southeastern extent of the furthest southwest trench (8), there appears to be no further dolerite dykes present for some considerable distance. Notably, the quartz rubble horizon was sampled in Trench 1 which returned much stronger gold results than in any of the trench bedrock samples (17 2m samples were sent for analysis with 7 returning >0.2g/t Au as well as 3 returning >1g/t Au (up to 2.32g/t Au)). |
|
|
|
|
GEOPHYSICS – COMPLETE A ground magnetometer geophysical survey was completed over the northwestern and southeastern strike length extensions of the Cherished Hope Mine.
|
Post-mineralisation dolerite dyke swarms are found throughout much of the TGB. As a result, within many of the historical and currently operating gold mines in the TGB, mapping the precise location of these dykes (magnetic highs) is important as they often can cross-cut gold mineralisation. The 2023 ground magnetic results have successfully mapped the location and orientation of approximately six of these dolerite dykes within the survey area, including four which are proximal and/or within the Cherished Hope (“CH”) Mine area. The successful mapping of these dykes will allow for more precise and accurate drill hole siting should drilling be undertaken going forward within CH and the surrounding areas. |
|
SOIL GEOCHEMISTRY – STARTING SHORTLY The planned high-resolution infill soil geochemical sampling programme is focussed on approximately 2km of strike-length along the approximately 8km long broad Au-in-soil anomaly identified at Tati. Soil samples will be collected along a grid which will be focussed to the northwest and southeast of the 2022 RC drilling area.
The high-resolution in-fill grids will focus on areas where at least two historical anomalies were identified within widely spaced soil sampling lines (on average 400m spaced lines and up to 700m line spacing). These two-point anomalies returned an impressive 2.15g/t Au and 0.84g/t Au. To date these anomalies have never been further investigated to determine the provenance of this gold mineralisation.
|
Historical soil sampling completed over the majority of the Tati Project was undertaken by previous operators along generally 400m spaced lines at 40m sample spacing. This programme intends to infill the line spacing to between 100-200m by 40m so that the definition and location of already proven Au-in-soil anomalies is vastly improved. This work will then allow Power Metal to follow up with more focussed next exploration steps which could include further trenching and drilling of these new areas. By completing this work, a much larger percentage of the 8km long Au-in-soil anomaly can move to next exploration steps therefore increasing the overall attractiveness of the Project as well as the overall size of the mineralised footprint.
|
|
REVERSE CIRCULATION (“RC”) DRILLING(1) The RC drilling will be driven by the results of prior work streams including the soil sampling. Further updates in regard to this will be announced in due course.
|
RC drilling may be undertaken to test for the along strike and down dip extension of gold mineralisation intersected by trenching of the soil anomalies. In the Cherished Hope Mine area the goal is to demonstrate continuity in the major quartz reef structure width and gold grade as well as testing the currently open down-dip extension potential at depth. |
|
DIAMOND CORE DRILLING(2) Diamond core drilling specifics will be dependent on results from prior work streams including soil sampling, trenching and RC drilling. Further updates in regard to this will be announced in due course.
|
Diamond core drilling may be completed in order to drill test select portions of the Cherished Hope quartz reef structures. Diamond drilling provides full core rock samples, and therefore valuable information about structure, geology, and the nature of gold mineralisation. The information extracted from diamond drilling would allow the Company to gain a better understanding of the mineralised quartz reefs and surrounding wall rocks. |
Notable Trenching Results
|
Trench ID |
Trench Length (m) |
From (m)* |
To (m)* |
Interval (m)* |
Grade (g/t) |
|
Trench 1 |
31 |
23 |
25 |
2 |
0.32 |
|
Trench 1 (rubble) |
32 |
0 |
2 |
2 |
0.33 |
|
6 |
12 |
6 |
1.35 |
||
|
18 |
20 |
2 |
0.45 |
||
|
22 |
26 |
4 |
0.85 |
||
|
Trench 3 |
52 |
31 |
32 |
1 |
0.43 |
|
37 |
38 |
1 |
0.25 |
||
|
44 |
49 |
5 |
0.74 |
||
|
Trench 5 |
54 |
6 |
8 |
2 |
0.38 |
*Refers to lengthwise along trench (as opposed to depth).
KEY:
(1) RC drilling involves a “hammer” piston which repeatedly strikes the target rock. Simultaneously, a powerful drill-bit at the end made of tungsten rotates at high speed. This creates small chips of rock known as drill cuttings that are sucked up with a vacuum and transported to a cyclone at the surface through dedicated tubes. The drilling chips derived from each depth interval are collected in separate sample bags, and a representative sub-sample of each interval is submitted to the assay lab where the geochemical constituents and gold grade is analysed. In turn, the drill chips provide a representation of the rock types the hole encountered throughout its length, this data allows a geological log to be established.
(2) Diamond core drilling involves rotating a hollow drill bit embedded with diamonds into the ground to a certain depth before extracting the solid, intact core recovered for analysis.
QUALIFIED PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information please visit https://www.powermetalresources.com/ or contact:
|
Power Metal Resources plc |
|
|
Sean Wade (Chief Executive Officer) |
+44 (0) 20 3778 1396 |
|
SP Angel Corporate Finance (Nomad and Joint Broker) |
|
|
Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
|
SI Capital Limited (Joint Broker) |
|
|
Nick Emerson |
+44 (0) 1483 413 500 |
|
First Equity Limited (Joint Broker) |
|
|
David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
#SVML Sovereign Metals Ltd – Expiry of Unlisted Options
Sovereign Metals Limited (Sovereign or the Company) (ASX:SVM, AIM:SVML) advises that 11,105,125 unlisted options exercisable at A$0.80 each expired on 13 May 2023.
Following the expiry of unlisted options, Sovereign has the following securities on issue:
· 470,875,023 ordinary fully paid shares;
· 6,100,000 unlisted performance rights subject to the “Pre-Feasibility Study Announcement Milestone” expiring on 30 September 2023; and
· 8,260,000 unlisted performance rights subject to the “Feasibility Study Announcement Milestone” expiring on 31 October 2025.
Classification: 2.5 Total number of voting rights and capital.
ENQUIRIES
|
Dylan Browne +61(8) 9322 6322 |
|
Nominated Adviser on AIM |
|
|
RFC Ambrian |
|
|
Andrew Thomson |
+61 8 9480 2500 |
|
|
|
|
Joint Brokers |
|
|
Berenberg |
+44 20 3207 7800 |
|
Matthew Armitt |
|
|
Jennifer Lee |
|
|
|
|
|
Optiva Securities |
+44 20 3137 1902 |
|
Daniel Ingram |
|
|
Mariela Jaho |
|
|
Christian Dennis |
|
#GRX GreenX Metals LTD – Quarterly Activities Report March 2023
During the quarter, GreenX completed a Placing to issue 12.4 million new ordinary shares to raise gross proceeds of approximately £4.4 million (~A$7.7 million) from new and existing UK and European investors and some Australian investors (Placing) with net proceeds from the Placing to be used for:
o exploration activities in Greenland;
o business development through identifying other suitable business opportunities in the resources sector; and
o administrative expenses while the Arbitral Tribunal (Tribunal) decision remains pending following the recent conclusion of the hearing for the international arbitration claims (Claim) against the Republic of Poland.
· In November 2022, the hearing for the Claim against the Republic of Poland under both the Energy Charter Treaty and the Australia-Poland Bilateral Investment Treaty was concluded.
o Combined arbitration hearing took place in front of the Tribunal in London under the UNCITRAL Arbitration Rules;
o Damages of up to £737 million (A$1.3 billion / PLN4.0 billion) have been claimed including the assessed value of GreenX’s lost profits and damages related to both the Jan Karski and Debiensko projects, and accrued interest related to any damages; and
o The Company has funded the Claim proceedings under its US$12.3 million Litigation Funding Agreement (LFA) with Litigation Capital Management (LCM). The Company has drawn ~US$10.4 million against the LFA, and the Company does not anticipate further material drawdowns now that funded costs relating to the Claim have been dispersed.
· Cash balance as at 31 March 2023 of A$10 million
Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State
GreenX Metals Limited (ASX:GRX, LSE:GRX) (GreenX or the Company) is pleased to present its Quarterly Activities Report for the period during and subsequent to 31 March 2023.
ShARE PLACING
In March 2023, the Company announced that it had successfully completed a bookbuild and secured commitments for 14.1 million new ordinary shares at a price of 31 pence (A$55c) per share for gross proceeds of approximately £4.4 million (~A$7.7 million) from new and existing UK and European investors.
The proceeds of the Placing ensure that GreenX retains a strong balance sheet position.
The net proceeds from the Placing will be used for:
· exploration activities in Greenland;
· business development through identifying other suitable business opportunities in the resources sector; and
· administrative expenses while the Arbitral Tribunal decision remains pending following the recent conclusion of the hearing for the Claim against the Republic of Poland.
DISPUTE WITH POLISH GOVERNMENT
In November 2022, the Company reported the conclusion of the Claim against the Republic of Poland under both the Energy Charter Treaty (ECT) and the Australia-Poland Bilateral Investment Treaty (BIT) (together the Treaties). The hearing took place in London and lasted two weeks.
Following completion of the hearing, the Tribunal will render an Award (i.e., the legal term used for a ‘decision’ by the Tribunal) in due course with no specified date available for the Tribunal decision.
As previously advised, the arbitration and hearing proceedings in relation to the Claim are required to be kept confidential.
Details of the Claim
The Company’s Claim against the Republic of Poland is being prosecuted through an established and enforceable legal framework, with GreenX and Poland agreeing to apply the United Nations Commission on International Trade Law Rules (UNCITRAL) rules to the proceedings. The arbitration claims are being administered through the Permanent Court of Arbitration in the Hague.
The evidentiary hearing phase of the arbitration proceedings has now been completed in front of the Arbitral Tribunal. With completion of the hearing, the Arbitral Tribunal will render an Award in due course. There is no specified date for an Award to be rendered. The Company’s claims for damages against Poland are in the amount of up to £737 million (A$1.3 billion/PLN4.0 billion), which includes a revised assessment of the value of GreenX’s lost profits and damages related to both the Jan Karski and Debiensko projects, and accrued interest related to any damages. The Claim for damages has been assessed by independent external quantum experts appointed by GreenX specifically for the purposes of the Claim.
In July 2020, the Company announced it had executed the LFA for US$12.3 million with LCM. US$10.4 million of the facility has been drawn down to cover legal, tribunal and external expert costs as well as defined operating expenses associated with the Claim. The Company does not anticipate further material drawdowns now that funded costs relating to the claims have been dispersed. The LFA is a limited recourse loan with LCM that is on a “no win – no fee” basis.
In September 2020, GreenX announced that it had formally commenced with the Claim by serving the Notices of Arbitration against the Republic of Poland. In June 2021, GreenX announced that it had formally lodged its Statement of Claim in the BIT arbitration, including the first assessed claim for compensation. The Company’s Statement of Reply, the last material filing to be made by the Company for the BIT arbitration proceedings, was submitted in July 2021. The Statement of Reply addresses various points raised by the Republic of Poland in their Statement of Defence. The Statement of Reply also contains a re-evaluation of the claim for damages based on responses to Poland’s Statement of Defence.
GreenX’s dispute alleges that the Republic of Poland has breached its obligations under the applicable Treaties through its actions to block the development of the Company’s Jan Karski and Debiensko projects in Poland which effectively deprived GreenX of the entire value of its investments in Poland.
In February 2019, GreenX formally notified the Polish Government that there exists an investment dispute between GreenX and the Polish Government. GreenX’s notification called for prompt negotiations with the Government to amicably resolve the dispute and indicated GreenX’s right to submit the dispute to international arbitration in the event of the dispute not being resolved amicably.
GreenX’s investment dispute with the Republic of Poland is not unique, with international media widely reporting that the political environment and investment climate in Poland has deteriorated since the change in Government in 2015. As a result, there are a significant number of International Arbitration claims being bought against Poland.
ARCTIC RIFT COPPER PROJECT
The Arctic Rift Copper Project (ARC) is an exploration joint venture between GreenX and Greenfields Exploration Ltd (Greenfields). GreenX can earn 80% of ARC by spending A$10 million by October 2026. ARC is targeting large scale copper in multiple settings across a 5,774 km2 Special Exploration Licence in eastern North Greenland. The area has been historically underexplored yet is prospective for copper, forming part of the newly identified Kiffaanngissuseq metallogenic province.
The results of work program announced last year have demonstrated the high-grade nature of the known copper sulphide mineralisation and wider copper mineralization in fault hosted Black Earth zones and adjacent sandstone units. The exact position of a native copper fissure at the Neergaard Dal prospect was also identified.
Analysis of this information is underway and will be key to future planned work programs.
CORPORATE
Financial Position
Following successful completion of the Placing, GreenX had cash of A$10 million as at 31 March 2023.
Link here to view the full report
Technology Minerals Plc #TM1 – EA Approves Lithium-ion Battery Recycling Plant
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that its 48.25% owned battery recycling business, Recyclus Group Ltd (“Recyclus”), has received final clearance from the Environment Agency (“EA”) to commence full operations at its lithium-ion (“Li-ion”) battery recycling plant in Wolverhampton, West Midlands. Recyclus has also been awarded Approved Battery Treatment Operator (“ABTO”) status by the EA, allowing it to commence recycling operations immediately, with on-site treatment and processing of spent Li-ion batteries.
The EA permit allows Recyclus a daily storage limit of 140 m3 (c.100 tonnes) and to process up to 22,000 tonnes of Li-ion batteries per annum. It is expected that 8,300 tonnes will be processed in the first year, utilising a single shift pattern of labour during the standard working week. Applications for licence variations to operate additional shifts will be considered in due course as will the potential to increase processing capability.
The approval from the EA for the Wolverhampton plant is a major milestone for Recyclus, making it the first industrial scale plant in the UK with the capability to recycle Li-ion batteries. Operations will commence on completion of the fire prevention systems installation which is expected shortly. This will be followed immediately by a plant commissioning phase, which is expected to commence in June this year.
Following commencement of operations, Recyclus anticipates the receipt of gate fees for collection and storage of Li-ion batteries, and from the sale of black mass, produced from the recycling process. Black mass contains critical battery metals that can be sold back into the battery supply chain.
Recyclus owns the IP for both the process and the plant which is designed to process most Li-ion battery types. Recyclus will manufacture all plants, including those designed specifically for OEM clients, here in the UK. Recyclus’s aim is to increase the UK processing capability to c.50,000 tonnes per annum through the construction of five more Li-ion recycling plants.
BIS Research latest study, Black Mass Recycling Market – A Global and Regional Analysis, states the global black mass recycling market, valued at $9.22bn in 2022, is projected to reach $53 bn by 2031.
Robin Brundle, Chairman of Technology Minerals, said: “We are pleased to announce that we have received final EA approval to commence full automated operations at our Li-ion battery recycling plant in Wolverhampton. This is a significant moment for the Company and the UK. The Wolverhampton plant has become the first facility in the UK with the capability to recycle Li-ion batteries on an industrial scale.
“Given the global shift towards electrification and the growing demand for Li-ion batteries, we believe we have a compelling first mover advantage in this burgeoning market. Our aim is to establish enduring partnerships with businesses and organisations, both in the UK and internationally, offering them an environmentally friendly solution for their end-of-life batteries. With feedstock stored and ready to be processed, everything is in place to ramp up operations at the facility and start generating revenues.”
Enquiries
|
Technology Minerals Plc |
|
|
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
c/o +44 (0)20 4582 3500 |
|
Oberon Investments Limited |
|
|
Nick Lovering, Adam Pollock |
+44 (0)20 3179 0535 |
|
|
|
|
Gracechurch Group |
|
|
Harry Chathli, Alexis Gore, Rebecca Scott |
+44 (0)20 4582 3500 |
Technology Minerals Plc
Technology Minerals is developing the UK’s first listed company, providing a sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. As with the increasing global demand for battery metals to supply electrification increases, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk
Recyclus Group Ltd
The demand for the raw materials used in battery manufacturing is anticipated to increase substantially. Recyclus Group provides a national recycling initiative that supports the transition to carbon neutrality. Recyclus Group’s battery recycling capacity will prove essential in the shift from fossil fuels to electric transportation. Through its strategic support from Technology Minerals, Recyclus is an integral component to the recycling of lithium-ion and lead-acid batteries and is a significant contributor towards the circular economy of battery metals. Further information on Recyclus Group is available at www.recyclusgroup.com
#ECR ECR Minerals PLC – ECR Adding Significant Gold and Battery Metals to Its Portfolio
Today Andrew Haythorpe talks to Thomas Warner at Proactive about the ECR Minerals Plc (AIM: ECR) #ECR asset portfolio, covering the company’s Queensland assets at Lolworth and Blue Mountain plus the ongoing work at Creswick. They discuss the options package and the portfolio opportunities for gold and battery metals.
ECR Minerals PLC adding significant gold and battery metals opportunity to its portfolio – YouTube
#TM1 Technology Minerals PLC – Innovate UK awards £1.96m for recycling system
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that its 48.25% owned battery recycling business, Recyclus Group Ltd (“Recyclus”), in collaboration with the University of Birmingham (“UoB”), has been awarded funding of £1.96m from the UK Government’s Innovate UK, to create a mobile battery recycling system capable of safely handling any type of lithium-ion (“Li-ion”) battery.
Recyclus will lead the project and design and build a compact prototype Universal Battery Recycling System (“UBRS”), a mobile recycling truck that handles a complete range of Li-ion battery modules from all areas of industry. The main unit will be designed to accept batteries on an individual or batch-load basis and will implement a new industry standard that can benefit the UK and global recycling sectors. The Advanced Materials & Processing Laboratory (“AMPLab”) at the UoB will support the project providing leading edge 3D printing techniques, incorporating additive manufacturing for the required cutting tools.
The innovative recycling trucks will be based on Recyclus’ existing technology for industrial-scale Li-ion battery recycling, capable of safely dealing with the 5+ types of Li-ion battery chemistry, in any combination. Recyclus plans to operate the recycling trucks with three size options ranging from 7.5 to 16 tonnes which will be capable of processing between 500 and 2,000 kilogrammes per hour of Li-ion batteries.
The aim is to develop a consistent battery recycling channel which creates safe and environmentally friendly recycling of Li-ion batteries across the UK. The whole system will be completely sealed, emission free, with a gated infeed chamber and a series of sealed outfeed chutes which feeds separated materials into collection containers. The system will reduce Li-ion batteries to five recyclable products:
· Black mass, which contains lithium, manganese, cobalt and nickel
· Electrolyte
· Ferrous (steel)
· Non-ferrous (aluminium & copper)
· Light mixed fraction (plastic, rubber & paper)
According to analysis from McKinsey & Company, ‘Battery 2030: Resilient, sustainable, and circular’, global demand for Li-ion batteries could grow 30 per cent annually from 700 GWh in 2022 to around 4,700 GWh by 2030.
Kate Jermey, Business Engagement Manager (KTP) at the University of Birmingham, said: “This project will enable Recyclus Group and The University of Birmingham to respond to the current challenges around battery recycling infrastructure, and provide a viable and desperately needed solution to the issue of waste batteries, through the usage of Industry 4.0/ Additive Manufacturing Solutions to speed up systems design and deployment.”
Robin Brundle, Chairman of Technology Minerals, said: “Securing this grant from Innovate UK is a strong endorsement for Recyclus and we look forward to working with the University of Birmingham on this programme which could be the catalyst for future collaboration.
“The rapid development of consumer goods such as vapes, handhelds, e-Bikes and the general transition to electric transport is already causing serious environmental issues. The build-up of end-of-life Li-ion batteries over the coming years will create a battery waste tsunami that we need to prepare for by investing in the capabilities and capacity for large-scale battery recycling.
“The Recyclus mobile unit takes the recycling solution to the problem and will provide a reliable, cost-effective and automated process for safe and environmentally friendly recycling of Li-ion batteries across the UK. This will accelerate the recovery of the critical raw materials essential to the transition to electrification and significantly reduce the use of landfill. This innovative mobile battery recycling system will implement a new industry standard that can benefit not just the UK, but around the world.”
Innovate UK
Innovate UK, the UK’s innovation agency, drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas. It funds business and research collaborations to accelerate innovation and drive business investment into R&D. Its support is available to businesses across all economic sectors, value chains and UK regions. They help businesses grow through the development and commercialisation of new products, processes, and services.
Enquiries
|
Technology Minerals Plc |
|
|
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
c/o +44 (0)20 4582 3500 |
|
Oberon Investments Limited |
|
|
Nick Lovering, Adam Pollock |
+44 (0)20 3179 0535 |
|
|
|
|
Arden Partners Plc |
|
|
Tim Dainton, Louisa Waddell |
+44 (0)20 3829 5000 |
|
Gracechurch Group |
|
|
Harry Chathli, Alexis Gore, Rebecca Scott |
+44 (0)20 4582 3500 |
Technology Minerals Plc
Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk
Recyclus Group Ltd
The demand for the raw materials used in battery manufacturing is anticipated to substantially increase. Recyclus Group provides a national recycling initiative that supports the transition to carbon neutrality. Recyclus Group’s battery recycling capacity will prove essential in the shift from fossil fuels to electric transportation. Through its strategic support, Recyclus is an integral component to the recycling of lithium-ion and lead-acid batteries and is a significant contributor towards the circular economy of battery metals. Further information on Recyclus Group is available at www.recyclusgroup.com
#FCM First Class Metals PLC – Ontario Junior Exploration Program-Grant Receipt
First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK metals exploration company seeking large scale metal discoveries across its extensive Canadian land holding is pleased to announce that it has received payment in full of the 2022/3 Ontario Junior Exploration Grant ‘OJEP’ for work carried out on the flagship North Hemlo property.
Highlights
· Final payment of CAD$140,000 of the maximum CAD$200,000 OJEP Grant received in lieu of the successful completion of the 2022 work program on the North Hemlo property.
· First UK listed company to have a successful completed application from the Ontario-Ministry of Northern Development, Mines, Natural Resources and Forestry
· The OJEP Grant assisted with costs relating to exploration expenditure incurred from the high definition low-level magnetic survey and field work across the property. This work was pivotal in the exploration success we had through the period, which included the discovery of the ‘Dead Otter Lake Trend’ reporting grab samples of up to 19.6 g/t gold (Au) over a +3km long strike.
https://polaris.brighterir.com/public/first_class_metals/news/rns/story/rnkq30r
· First Class have applied for funding from the 2023/4 OJEP intake for use on the Sunbeam gold project and we await feedback from the Ministry of Northern Development on this application.
Marc Sale CEO Commented: “On behalf of FCM I would like to thank the Ministry of Northern Development for the approval and receipt of the full $200,000 relating to the 2022/3 OJEP Program. Following this success, FCM have applied for the 2023/4 intake of OJEP with a focus on funding the work programme at Sunbeam. A detailed historical review of all the data pertaining to the Sunbeam property is in its final stages: and we eagerly await the conclusions which will help define our exploration programme in the coming season. On the wider company picture we have confidence that our projects in Ontario will be further advanced, building in 2023 on what was a very successful maiden field season”.
About OJEP: OJEP helps junior mining companies finance early stage exploration projects in Ontario. These projects help boost mineral exploration, growth, and job creation for northern and indigenous communities in the province. The 2022 OJEP fund totalled CAD$5m with a maximum allocation of $200,000 per applicant.
For further information, please contact:
|
James Knowles, Executive Chairman |
07488 362641 |
|
|
Marc J Sale, CEO |
07711 093532 |
|
|
Ayub Bodi, Executive Director |
07860 598086 |
First Equity Limited
(Financial Adviser & Broker)
|
Jonathan Brown |
0207 3742212 |
|
|
Jason Robertson |
0207 3742212 |
#SVML Sovereign Metals Ltd – Demerger Timetable
Sovereign Metals Limited (Company) (ASX:SVM, AIM:SVML) provides an update to the indicative timetable in relation to the demerger of NGX as disclosed below.
|
Event |
Indicative Date |
|
Effective date of Distribution |
20 March 2023 |
|
Repositioning of securities between the Australian share register and UK Depositary Interest register is suspended at the close of business |
21 March 2023 |
|
Ex Date |
22 March 2023 |
|
Record Date |
23 March 2023 |
|
Repositioning of securities between the Australian share register and UK Depositary Interest register recommences |
24 March 2023 |
|
Date for Distribution to Shareholders (Distribution Date) |
24 March 2023 |
|
Despatch of holding statements for NGX Shares transferred under the Distribution |
27 March 2023 |
Note: The dates shown in the table above are indicative only and may vary subject to the Corporations Act, the Listing Rules, the AIM Rules and other applicable laws.
ENQUIRIES
|
Dylan Browne Company Secretary info@sovereignmetals.com |
|
Nominated Adviser on AIM |
|
|
RFC Ambrian |
|
|
Andrew Thomson |
+61 8 9480 2500 |
|
|
|
|
Joint Brokers |
|
|
Berenberg |
+44 20 3207 7800 |
|
Matthew Armitt |
|
|
Jennifer Lee |
|
|
|
|
|
Optiva Securities |
+44 20 3137 1902 |
|
Daniel Ingram |
|
|
Mariela Jaho |
|
|
Christian Dennis |
|
#SVML Sovereign Metals – Kasiya’s Graphite Warming Potential Amongst Lowest
SOVEREIGN METALS LIMITED
NEWS RELEASE I 15 MARCH 2023
KASIYA’S GRAPHITE GLOBAL WARMING POTENTIAL TO BE AMONGST LOWEST IN THE WORLD
|
· |
Independent benchmarking indicates Sovereign’s graphite co-product from Kasiya should have significantly lower global warming potential versus current and developing natural graphite projects |
|
· |
Global warming potential (GWP) of producing one tonne of flake graphite concentrate at Kasiya estimated to be 0.2 tonnes of CO2 equivalent emissions (CO2e) |
|
· |
Kasiya has the lowest GWP compared with currently known and planned future natural graphite projects: |
|
o |
Up to 60% lower than currently reported GWP of graphite producers and developers, including suppliers to Tesla Inc. |
|
o |
3x less polluting than proposed Tanzanian natural graphite production from hard rock sources |
|
o |
6x less polluting than current Chinese natural graphite production which accounts for up to 80% of current global graphite supply |
|
· |
In 2022, the lithium-ion battery market became the biggest end-market for natural flake graphite |
|
· |
Despite graphite being only a co-product to future potential rutile production, Kasiya is still one of the largest and potentially lowest production cost flake graphite resources in the world as it is hosted in soft and friable saprolite material instead of hard rock |
|
· |
Mining is planned to be via hydro-methods (high-powered water monitors) with the operation powered almost 100% by renewable sources (hydro-generated grid and on-site solar power) |
|
· |
Previously, Sovereign had announced that its primary product of natural rutile is expected to have a GWP of only 0.1 tonnes CO2e – up to 97% lower than alternative titanium feedstocks produced by upgrading ilmenite |
Sovereign Metals Limited (ASX: SVM, AIM: SVML) (the Company or Sovereign) is pleased to announce the combined results of internal company analysis, supplemented with an independent benchmarking study by UK-based consultancy Minviro Ltd (Minviro) which compared the global warming potential (GWP) of producing natural flake graphite from the Kasiya Project (Kasiya or the Project) against relevant current and future natural graphite projects.
The cradle-to-gate life cycle assessment (LCA) was carried out by Minviro comparing current natural graphite production from China which produces almost 80% of the world’s natural graphite, and proposed near-term production from Tanzania, which offers a regional benchmark against Kasiya in Malawi. The LCA study followed ISO 14067:2008 guidelines and was critically reviewed by a panel of three independent experts.
A number of graphite producers and explorers/developers have conducted their own LCAs, with conclusions of a select number being made public. Kasiya’s graphite product currently has the lowest GWP of publicly reported current and future potential graphite production.
The benchmarking study found that the total GWP of 0.2 tonnes CO2e per tonne of natural flake graphite concentrate produced at Kasiya is significantly lower than the total GWP per tonne produced in Heilongjiang Province, China (1.2 tonnes CO2e) and the total GWP per tonne produced in Tanzania (0.6 tonnes CO2e).
Sovereign’s Managing Director, Dr Julian Stephens, commented: “It is remarkable that our graphite co-product from planned rutile production at Kasiya will not only be potentially one of the lowest cost flake graphite projects in the world but now can also be considered to have one of the lowest global warming potentials of current and future graphite mines. Producers and users of lithium-ion batteries are already taking note of the carbon footprint associated with the raw materials that feed into battery technology – so to be developing Kasiya at this time is truly exciting.”
Minviro’s LCA has already previously shown the potential for Sovereign’s primary product of natural rutile to significantly reduce the carbon footprint of the titanium pigment industry.
Each tonne of natural rutile produced at Kasiya is expected to have a Global Warming Potential of only 0.1 tonnes CO2 eq., which equates to a 95% to 97% reduction in total greenhouse gas emissions (20 to 33 times less) compared to production of titania slag and synthetic rutile respectively – both of which are alternative titanium feedstocks produced by upgrading ilmenite via energy and carbon intensive processes.
ENQUIRIES
|
Dr Julian Stephens (Perth) +61(8) 9322 6322 |
Sam Cordin (Perth) |
Sapan Ghai (London)
|
|
Nominated Adviser on AIM |
|
|
RFC Ambrian |
|
|
Bhavesh Patel / Andrew Thomson |
+44 20 3440 6800 |
|
|
|
|
Joint Brokers |
|
|
Berenberg |
+44 20 3207 7800 |
|
Matthew Armitt |
|
|
Jennifer Lee |
|
|
|
|
|
Optiva Securities |
+44 20 3137 1902 |
|
Daniel Ingram |
|
|
Mariela Jaho |
|
|
Christian Dennis |
|
Why is Kasiya’s Graphite able to achieve such a low carbon-footprint?
The GWP for Kasiya’s flake graphite product was based on information in the Kasiya Scoping Study from December 2021. This was followed up with an Expanded Scoping Study in June 2022 (see announcement here: http://www.investi.com.au/api/announcements/svm/c6f18bca-8aa.pdf). The significantly lower GWP for Kasiya graphite is due to the fact that it is hosted in soft, friable saprolite material which will be mined via hydro methods (high pressure water monitors) powered by renewable energy sources – hydro power from the Malawi grid and on-site solar power. This is opposed to the production in Heilongjiang Province, China where hard-rock ore requires drilling, blasting, excavation, trucking, crushing, and grinding – overall high CO2e activities.
About Kasiya’s Graphite
The Kasiya discovery in central Malawi is the largest natural rutile deposit and one of the largest flake graphite deposits in the world.
The lithium-ion battery sector is the main emerging market for flake graphite. Greater capacity batteries, such as those required for electric vehicles, are expected to drive significant demand for graphite over the coming years. It is forecast the battery sector will become the largest graphite market segment by 2028.
Kasiya will be a simple and conventional operation using traditional and well-developed processes used across the globe on numerous mineral sands and graphite operations.
The proposed large-scale operation will process soft, friable mineralisation that occurs from surface in an area with excellent access and water availability. The Project has high quality surrounding infrastructure including hydro-sourced grid power, bitumen roads and recently upgraded rail lines connecting to the deep water of ports of Nacala and Beira on the Indian Ocean.
Forward Looking Statement
This release may include forward-looking statements, which may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions. These forward-looking statements are based on Sovereign’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Sovereign, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. Sovereign makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.
Competent Persons Statement
The information in this announcement that relates to the Mineral Resource Estimate is extracted from the announcement dated 5 April 2022. The announcement is available to view on www.sovereignmetals.com.au. Sovereign confirms that a) it is not aware of any new information or data that materially affects the information included in the announcement; b) all material assumptions included in the announcement continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in this report have not been materially changed from the announcement.
The information in this announcement that relates to Production Targets, Processing, Infrastructure and Capital and Operating Costs, is extracted from the announcement dated 16 December 2021 entitled ‘Kasiya Scoping Study Confirms Globally Significant Natural Rutile Project’ (Announcement). Sovereign confirms that: a) it is not aware of any new information or data that materially affects the information included in the announcement; b) all material assumptions and technical parameters underpinning the Production Target, and related forecast financial information derived from the Production Target included in the Announcement continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in this presentation have not been materially modified from the Announcement.
The information in this announcement that relates to Metallurgy is extracted from the announcement dated 7 December 2021. The announcement is available to view on www.sovereignmetals.com.au. Sovereign confirms that a) it is not aware of any new information or data that materially affects the information included in the announcement; b) all material assumptions included in the announcement continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in this report have not been materially changed from the announcement.
To view this announcement in full, including all figures and illustrations, please refer to http://www.investi.com.au/api/announcements/svm/61a82ede-fa0.pdf.
|
Table 1: Kasiya Mineral Resource Estimate at 0.7% Rutile Cut-off |
|
|
||||
|
Mineral Resource Category |
Material Tonnes (millions) |
Rutile |
Rutile Tonnes (millions) |
Total Contained Graphite (TGC) |
TGC Tonnes (millions) |
RutEq. Grade* |
|
Indicated |
662 |
1.05% |
6.9 |
1.43% |
9.5 |
1.76% |
|
Inferred |
1,113 |
0.99% |
11.0 |
1.26% |
14.0 |
1.61% |
|
Total |
1,775 |
1.01% |
18.0 |
1.32% |
23.4 |
1.67% |
* RutEq. Formula: Rutile Grade x Recovery (98%) x Rutile Price (US$1,308/t) + Graphite Grade x Recovery (62%) x Graphite Price (US$1,085/t) / Rutile Price (US$1,308/t). All assumptions are taken from this Study ** Any minor summation inconsistencies are due to rounding.
