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Anson To Acquire Privately Owned Land For Green River Lithium Processing Plant
Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce that it has signed a letter of intent (LOI) to enter into a Purchase and Sale Agreement for the strategic acquisition of 0.568km2 of privately owned, industrial use land at its Green River Lithium Project in the Paradox Basin, in south-eastern Utah, USA.
Highlights:
- Letter of Intent signed for strategic acquisition of 140.39 acres (0.568 km2) as the site for the Green River Lithium Project's proposed future mineral extraction and processing plant
- The property to be acquired is privately owned, industrial use land and is located less than 1km from the Green River Project
- The proposed agreement includes water rights, as well as the oil and gas and mineral rights underlying the new landholding
- The site also provides easy access to the national rail network, interstate road system and gas and power infrastructure, plus access to the Green River.
- Due diligence is being conducted to confirm ownership prior to final contract execution
- Anson plans to develop the Green River Project in parallel with its flagship asset, the nearby Paradox Lithium Project
The new tenure consists of six parcels of land, which range from 0.8 acres (01—156-007) to 52.17 acres (05220022), and is zoned for industrial purposes only (see Map 1).
Anson plans to utilise the new site as the location for the future lithium extraction and production facitlity for its proposed lithium producing operation at the Green River Project.
The proposed agreement includes all oil, gas and mineral rights underlying the surface area of new tenure. Mineral rights vary over the six parcels, however due diligence completed to date indicates 100% of the mineral rights on parcel 050220052 (east) will form part of the purchase agreement assets.
The proposed agreement also includes water rights. These water rights will be added to those that have already been subleased from the Green River Companies LLC and confirmed by the Wayne County Water Consevancy Board.
Significantly, the proposed agreement allows for the extraction of water from either the Colorado or Green Rivers (ASX Announcement 23 January, 2023). The addition of water rights with the purchase of the property will provide futher water security for the successful operation of a future project at Green River.
The new site also provides access to the national rail network, interstate road system, as well as gas and power infrastructure, and access to the Green River. It is also situated in close proximity to the town of Green River, providing easy access to other supporting infrastructure and a potential workforce.
Privately owned land is subject to a less rigourous approval process for drilling, extraction, transportation and disposal. Given the size of the area to be acquired, all of these activities may be performed within the property boundaries. The Company is investingating these opportunities in more detail and will provide further information to the market as this investigation concludes.
Upon signing of the LOI, Anson has secured exclusive rights to the property for purchase completion before April 2024. Once due diligence has been completed and a final contract has been executed, Anson will pay to to the current owners USD2.4 million to complete the purchase terms.
Map 1: Showing six parcels of privately owned land to be purchased at Green River
About the Green River Lithium Project
Anson considers the Green River Project to be a significant strategic addition to its US lithium asset portfolio. The Company plans to leverage its experience and expertise in the region to fast-track exploration and mineral delineation for the Green River Project and intends to fund the development of this project from future cash flow generated by the Paradox Project.
Click here for the full ASX Release
This article includes content from Anson Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Anson Resources: Developing a Near-Term Clean Energy Project in Utah
Anson Resources (ASX:ASN) focuses on the resources necessary to meet the energy demands of the future. The company’s flagship project, the Paradox Lithium Project, has the potential to become a world-class lithium producer and is located near Tesla’s massively productive gigafactory in the United States. Additional projects target nickel, copper, and uranium.
The company's flagship Paradox Project is located in Utah, a mining-friendly and politically stable jurisdiction. The asset holds significant lithium brine deposits, and the company has identified an extraction method that has delivered an extraction rate of 91.5 percent. This technique calls for passing the lithium through the resin, which captures the resin, and can then be separated from the resin with water. From that state, it can be processed into lithium carbonate. The company is currently undertaking a major JORC resource expansion drilling program, the results of which will feed into a Detailed Feasibility Study being carried out by global engineering firm, Worley.
Company Highlights
- Anson Resources is focused on developing its flagship project, the Paradox Lithium Project, into a significant lithium producing operation.
- The company is currently undertaking a major JORC Resource expansion program at Paradox, which will form part of a Detailed Feasibility Study which is being undertaken by leading global engineering consultants, Worley.
- The Paradox Project contains multiple lithium brine targets, and the company has identified an extraction method that produces an impressive return rate of 91.5 percent. Also, the project’s Direct Lithium Extraction (DLE) method is expected to deliver significant ESG benefits
- In addition, the project’s brine also contains bromine, creating a valuable second potential revenue stream for the asset.
- Anson Resources’ other projects target nickel, copper, vanadium and uranium. The company aims to supply energy markets with the mineral resources necessary to power the future.
- The company has an experienced management team with a mix of technical, corporate and commercial skills driving the project towards its ambitious goals.
This Anson Resources company profile is part of a paid investor education campaign.*
Update on 31 March 2024 Options
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to provide an update on the status of the 16,829,135 quoted Options (ASX: AWJOA) to acquire fully paid ordinary shares in the capital of the Company each at an exercise price of $0.15 expiring on 31 March 2024.
1. At the close of business Friday 15 March 2024 a total of $339,026.70 has been received by Computershare, representing the conversion of 2,260,178 options into fully paid ordinary shares.
2. Auric Directors will exercise all their options. The total is 645,839 options for a total of $96,875.85.
3. The last day of trading AWJOA will be Friday, 22 March 2024.
4. The last day to exercise the AWJOA is Thursday 28 March 2024.
If you need assistance with the paperwork and forms, please contact the Joint Company Secretary, Catherine Yeo on cyeo@auricmining.com.au.
Click here for the full ASX Release
This article includes content from Auric Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Miners Facing Financing Frustration, Where Will the Money Come From?
Resource sector funding has declined for the last 15 to 20 years, and recently high inflation and interest rates have only made it more difficult for companies in the sector to get the money they need to move forward.
The issue has become a major topic, and was discussed at the Vancouver Resource Investment Conference this past January, as well as at this year's Prospectors & Developers Association of Canada (PDAC) convention.
At the a panel titled “Where Will the Money Come From?” moderator David Halkyard of private equity firm Resource Capital Funds spoke with John MacKenzie, CEO and board member of Capstone Copper (TSX:CS,OTC Pink:CSCCF); Pierre Lassonde, co-founder and chair emeritus at Franco-Nevada (TSX:FNV,NYSE:FNV); Adam Lundin, chair of Lundin Mining (TSX:LUN,OTC Pink:LUNMF); and Jacqui Murray, partner with Resource Capital Funds. Here's what they had to say.
Why has money left the mining sector?
Mining industry investment has declined significantly in the last several years, and nowhere is that more evident than in the retail segment of the market. As Lassonde explained, retail investors have stayed away from the resource sector in favor of the quick money and flashy profiles associated with big tech firms.
According to Lassonde, the tech stocks known as the "Magnificent 7" together represent US$13.1 trillion in market cap, close to the estimated US$15 trillion in gold that has been mined through history, and more than 50 times the US$250 billion combined market cap of all gold equities, including royalty companies.
“(Of the US$250 billion), half of that is six companies, and then the other half, US$125 billion, is about 150 to 300 companies — in the scheme of things for investors, they become irrelevant,” he said.
Lassonde added that asset and fund managers are steering clear of gold due to factors such as disasters, capital costs and bad execution of mergers. He provided the example of Newmont (TSX:NGT,NYSE:NEM), whose share price reached nearly US$90 in April 2022, but as of the end of February had fallen as low as US$30 following its merger with Newcrest.
“So the investor base has been really gun shy, and is like, ‘This space is a disaster. Why do we want that?’” he said.
Western markets have largely moved away from gold as a metal as well, suggested Lassonde.
“Look at the gold price today, and it’s at a new record high of over US$2,100 (per ounce),” he told members of the audience at PDAC. “Who would have thought? Well, you know what, it’s not set here anymore — it’s not set in the US or London — it's set in China. China is the driver of the gold market today.”
He also pointed to the SPDR Gold Trust ETF (ARCA:GLD), which he said lost 140 metric tons (MT) last year and is down another 50 MT so far this year. “So people here are not investing in gold, let alone gold equities. They’re in Bitcoin, they’re in the Magnificent 7, where they’re making so much more money,” Lassonde said.
Investors lukewarm on slow-moving resource sector
Murray said this lack of performance in the mining industry has become endemic.
“When we’re talking to investors — and this is very large pension funds and endowments that invest money through private equity funds — and if there’s a young portfolio manager that has maybe been there for 10 years, and they chose not to invest in mining during that time, they’ve probably been congratulated,” she said.
Lundin added to the points made by Lassonde and Murray, indicating that it's been tough for the industry to bring investors into the fold given the state of the market. “People want to make money easily … Lending money, lending gold, it’s about 3 percent dividend yields right now, but you can keep your money in your bank account at 5 percent,” he said.
Further compounding the situation for investors is timelines for miners. Reporting for Bitcoin and the tech sector is far more granular than it is for mining. Updates come by the minute, quarter and year, and product launches are consistent year after year; in comparison, progress from discovery to mine can seem glacial.
“(Investors who meet with us) are looking for cash-flowing businesses, which is quite hard because a lot of the mines that need the money are in that awkward feasibility, unpermitted stage where there is a lot of capital, but the risks to invest in it, particularly with permitting timeframes nowadays, is extremely high,” Murray said.
According to the panelists, the little investment that happens in the resource industry occurs in relation to producing or near-producing assets that have built-in cash generation. However, this focus leaves early stage exploration and development projects largely underfunded.
Explorers and developers left out to dry
Bringing new mines online is a long process. It takes 10 to 20 years to move an asset from discovery to production, and the vast majority of discoveries don’t even make it to the production stage.
This makes funding at the exploration stage critical for the industry to ensure long-term viability and growth. However, while exploration is vitally important, it’s also the most challenging and risky point for investment.
“I took a 10 year span from '83 to '93, and I looked at 3,000 exploration companies and what happened to them,” Lassonde said. “Of those 3,000, only five actually delivered mines that opened and made money. So the ratio is appalling, and it got worse in the last 20 years because there hasn’t been the kind of discovery that we saw in the ’80s and ’90s.”
These kinds of results don’t instill confidence. For Lassonde, sifting through companies is part of his day-to-day life. But for regular investors, doing due diligence on the vast array of available stocks can be daunting.
Lassonde also pointed to another fundamental shift within the industry, saying that a steady loss of senior companies in Canada — including Alcan, Falconbridge, Inco and Noranda — over the past 20 years has had a considerable impact on juniors. “These companies not only did research and development, but out of the C$100 million to C$200 million budget they had for exploration, they shepherded probably 50 to 100 companies each at the junior level, because they understood that 50 percent of all discoveries are made by juniors,” he explained.
Despite this top-down loss in investment capital and geological expertise, the number of junior companies is still considerable, and they’re all competing with each other for what funding is available.
Echoing Lassonde, Murray said this saturation makes it hard for investors to make educated decisions on where to park their money. “Working through the junior mining companies is a bit like television nowadays,” she said on stage at PDAC. “You can spend hours just searching through crap, and eventually, you give up. Maybe there was a good company in there but you’ve flipped over it, just flicking through.”
Murray noted that the junior landscape has become dysfunctional, with too many companies that don’t have viable projects or a path forward that end up siphoning investment away from companies that do.
“In those early days, we are looking very much for how much of our dollars are going straight into the ground versus overhead. I think that’s probably a big problem, how many companies are attempting to raise capital to just stay alive rather than actually progressing projects,” she commented.
The saturation in the junior landscape has created an environment where there are too many companies with too many small projects. The panelists said consolidation would allow companies to develop projects of greater size and scope, and bring more assets together under one larger company.
“You have to have scale, and you have to have grade and you have to prove that you have something that your peers don’t,” Lundin said. MacKenzie made a similar point, saying that scale is essential for attracting capital.
“There is no doubt that there is a premium for scale,” he said. “The investment funds around the world are getting bigger and bigger, and none of them really want to be holding huge percentages in any single company. So the bigger the company, the more investable they are, the more liquid. And those are the real keys to attracting investments.”
Where could the money come from?
During the talk, the panelists discussed how juniors and larger mining companies can get funding outside of public markets. MacKenzie said private sources of capital will be essential, including private equity firms and family offices.
Lassonde agreed with the idea that these can be a good source of investment, and he said he turned to them to help fund a project in Chile. “That’s where the money is. We went to pass the hat to a number of family offices that we know and they said, ‘How much are you putting in? We’ll match you,’” he said.
The panelists also mentioned royalty and streaming deals as options for companies developing projects. These agreements involve a company agreeing to sell a percentage of its future profit or physical production at a pre-determined price in exchange for upfront funding to move forward at its project.
Depending on the size and attractiveness of its property, a company might also find success by courting investment from the international community. For example, MacKenzie spoke of how there is more investment capital flowing from the Middle East, with much of it connected to Saudi Arabia’s sovereign wealth fund.
“I think the way they’re looking at it is they obviously want to buy mines in production, but they (have) a sort of multi-decade point of view, so they’re looking at it from exploration sites all the way through to operating mines,” he said.
For her part, Murray noted that there is more interest in critical minerals.
Similarly, MacKenzie pointed out the enormous quantity of critical minerals that will be needed over the coming decades as the need to decarbonize becomes increasingly important in countries around the world.
This is bringing new money into the industry from nations and companies that are competing for limited available resources, often in the form of offtake agreements or other partnerships. “You know, there have been some countries that have been securing offtakes for the last couple decades, but I think there’s a lot of the world that today is finding itself challenged in terms of where their critical metals are actually going to come from,” he said.
Investor takeaway
The mining industry is struggling to appeal to retail investors due to saturation, competition from stocks offering quick returns and an overall lack of narrative. This means miners may want to consider alternative sources of funding.
The panelists at PDAC also agreed that more consolidation in the resource sector could help companies attract larger amounts of funding that aren't available to smaller-scale entities.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Scandium Exploration Update
Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to provide an update on multiple scandium exploration activities currently underway on the Murga and Melrose Scandium Prospects which are located approximately 70 kilometres northwest of Parkes within central NSW on the Company’s Fifield and Avondale Projects (Figures 3 and 4).
Highlights
- Aircore drill program (100 holes / 2,664 metres) completed at the Murga Scandium Prospect across 20km² area to determine extent and continuity of scandium mineralisation
- 2,185 drill samples from Murga aircore drilling submitted for multi element analysis with results expected by late April 2024
- JORC Resource drilling (~ 2,000 metres RC / Diamond) at the Melrose Scandium-Cobalt Prospect to commence late this week with Resource Estimate expected by mid-June 2024
- Further leach test work focussed on maximising scandium recoveries along with XRD and petrological studies to commence shortly
- All activities fully funded by Rimfire’s exploration partner - GPR
Globally, western governments and advanced manufacturers are looking to secure long term supplies of critical minerals such as scandium from stable political jurisdictions, at quantities many times the current annual global production. Rimfire believes its Murga and Melrose Prospects offer significant opportunities in terms of deposit size and grade.
We are building strong momentum across our scandium prospects with the completion of the Murga aircore drill program and imminent commencement of the Melrose JORC Resource drilling. With ongoing metallurgical test work and other geological studies, 2024 is shaping up as a pivotal year for Rimfire and its shareholders”.
Murga Scandium Prospect
The Company has completed an air core drilling program (100 holes / 2,664 metres – Figure 1 and Table 1) at Murga to determine the extent and continuity of scandium mineralisation and 2,185 drill samples have now been submitted to ALS Pty Ltd for multi element analysis with results expected by late April 2024.
The new drilling program follows reconnaissance aircore drilling undertaken in 2023 by Rimfire which successfully intersected strongly anomalous scandium in multiple drillholes (See Figure 1 and Rimfire ASX Announcement dated 3 October 2023);
- 3m @ 132ppm Sc from 3 metres in FI2425
- 18m @ 164ppm Sc from surface in FI2426 including 6m @ 208ppm Sc from 3 metres
- 15m @ 125ppm Sc from 3 metres in FI2427
- 6m @ 131ppm Sc from 15 metres in FI2429
- 27m @ 188ppm Sc from 0 metres in FI2434 including 12m @ 224ppm Sc from 3 metres, and
- 6m @ 173ppm Sc from 3 metres in FI2435
Throughout the Murga prospect, scandium occurs within a strongly weathered horizon overlying magnetic ultramafic (pyroxenite) intrusive rocks of the Ordovician-age Murga Intrusive Complex, which have been demonstrated from previous drilling at both Murga and the adjacent Melrose Prospect to be intimately associated with scandium mineralisation (See Rimfire ASX Announcement dated 6 December 2023).
While geological logging is continuing, an initial review of rock types intersected in the latest Murga drilling indicates that approximately 80% of the holes intersected ultramafic / mafic rock types (including pyroxenite). The significance of this observation will be confirmed once assay results are received however it’s worth noting that the FI2429 intercept quoted above occurred wholly within fresh pyroxenite rock types not the overlying weathered horizon.
The most recent aircore holes were drilled on 100 x 100 metre centres at Murga North and on 400 x 400 metre centres over the remainder of the Murga Intrusive Complex. In total the drilling was carried out over an area of approximately 20km². A size comparison between Murga and the Melrose Prospect is shown on Figure 1.
The closer-spaced drilling was undertaken at Murga North to specifically follow up the FI2426 to FI2429 intercepts drilled by Rimfire in 2023 (i.e., 18m @ 164ppm Sc from surface in FI2426 including 6m @ 208ppm Sc) which lie within a 1,000-metre x 300-metre east west striking auger anomaly that overlies a linear magnetic feature within the northern portion of the Murga Intrusive Complex (“Murga North”).
To assist Rimfire’s understanding of the basement rock types at Murga, several samples have been submitted for petrological analysis including two samples of the scandium – anomalous fresh pyroxenite from FI2429 (15 – 21 metres).
Click here for the full ASX Release
This article includes content from Rimfire Pacific Mining Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Warriedar Delivers High Grade Gold Extensions at Ricciardo
Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to release assay results from drilling undertaken at the Ricciardo deposit (previously known as Silverstone) within its Golden Range Project located in the Murchison region of Western Australia. The results released today have confirmed the presence of high-grade shoots below existing oxide open pits and demonstrates the excellent exploration potential for further discoveries at Ricciardo.
HIGHLIGHTS:
- Assay results received for thirteen (13) RC holes drilled at the Ricciardo deposit with all holes intersecting significant intervals of gold mineralisation, including:
- 32m @ 3.59 g/t Au from 148m, incl. 1m @ 10.85 g/t Au from 151m (RDRC019)
- 11m @ 3.43 g/t Au from 149m (RDRC031)
- 14m @ 1.15 g/t Au from 114m (RDRC022)
- 3m @ 5.61 g/t Au from 114m, incl. 1m @ 11.20 g/t Au from 114m (RDRC025)
- Drilling has identified two new high-grade shoots beneath the historical open pits at Silverstone and Silverstone South.
- Significant extensions of high-grade gold mineralisation have been intersected under the Ricciardo deposit at shallow depths (of between 150 - 200m) – which confirms the potential for further discoveries below historical open pits.
- Drilling demonstrates the excellent potential for significant growth of the Ricciardo deposit and Resource.
- Assays from a further nine (9) RC holes are pending with results anticipated to be received in the next four weeks.
- The Ricciardo deposit remains open along strike and at depth, with further growth-focussed drilling of this area planned from Q2 CY2024.
- Ricciardo sits in the middle of the 25km long Golden Corridor at Golden Range, which hosts six discrete deposits that are all open at depth and possess immediate growth potential.
- Ricciardo and the Golden Corridor to be the key focus of Warriedar’s exploration in 2024.
“We are very pleased with the results from this first batch of assays from the growth-focussed 2024 drilling program at Ricciardo. The results demonstrate the excellent potential to expand the Mineral Resource at Ricciardo, which has a strike length of 2.3km with high-grade gold mineralisation occurring at numerous locations along the trend.
With further assays pending, and follow-up drilling planned to commence from next quarter, we are excited as to what our exploration activities at Ricciardo can deliver for Warriedar this year.”
Engage with this announcement at the Warriedar InvestorHub
Figure 1: Location of the Ricciardo deposit within the Golden Range Project.
Robust high-grade extensions delivered across Ricciardo
21 holes have been drilled at Ricciardo during 2024 for 3,500m of drilling. This drilling was targeted to significantly extend the Ricciardo Mineral Resource boundaries at depth and along strike. The results released today have been able to achieve both goals.
Assay results have now been received for 13 holes drilled at Ricciardo. All 13 holes have returned significant gold intercepts, as reported in Table 2, with the better results provided below;
- 32m @ 3.59 g/t Au from 148m in RDRC019 beneath Ardmore pit.
- 11m @ 3.43 g/t Au from 149m in RDRC031 beneath Silverstone pit.
- 8m @ 1.84 g/t Au from 171m in RDRC032 beneath Silverstone pit.
- 14m @ 1.15 g/t Au from 114m in RDRC022 beneath Silverstone South pit.
- 10m @ 1.63 g/t Au from 156m in RDRC027 (ended within mineralisation) beneath Silverstone South pit.
The results have identified two additional high grade gold shoots within existing mineralisation as well as significant down-dip extension of the known mineralisation below the historic Silverstone and Silverstone South open pits. These results demonstrate the high-grade growth potential beneath Ricciardo both along strike and down dip of all five historic pits (Eastern Creek, Silverstone South, Silverstone (Copse), Ardmore, and Silverstone North) see Figure 3.
The Ricciardo deposit has a current Mineral Resource estimate of 8.7 Mt @ 1.7 g/t Au for 476 koz gold (6 koz Measured, 203 koz Indicated, 267 koz Inferred).1 The oxide material at Ricciardo (extending to 45 - 60m depth) has previously been mined across two separate phases: 2001 - 04 and 2013 - 19.
The Ricciardo gold system spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth.
The high-grade shoots comprising the Ricciardo mineralisation remain open both at depth and along strike. As a result of the strong growth potential (and its existing scale and grade), Ricciardo is a key focus area for Warriedar this year. Follow-up drilling at Ricciardo is planned from Q2 CY2024.
Click here for the full ASX Release
This article includes content from Warriedar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Entitlement Issue Prospectus
For a non-renounceable entitlement issue of one (1) Share for every three (3) Shares held by those Shareholders registered at the Record Date at an issue price of $0.002 per Share, together with one (1) New Option for every two (2) Shares applied for and issued exercisable at $0.003 per New Option on or before the date that is three (3) years from the date of issue (Offer).
IMPORTANT NOTICE
This document is important and should be read in its entirety. If, after reading this Prospectus you have any questions about the Securities being offered under this Prospectus or any other matter, then you should consult your professional advisers without delay.
The Securities offered by this Prospectus should be considered as highly speculative.
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
MTM Formally Exercises its Option for Global Licence Agreement over Flash Joule Heating
Highlights:
- Flash Metals Pty Ltd has formally exercised its Option (“FJH Option”) to license the patented Flash Joule Heating technology.
- The worldwide exclusive license will include:
- the recovery of rare earth elements (REE’s), metals and metallic compounds from Coal Fly Ash, Bauxite Residue (Red Mud), Ores, Bitumen and Coal;
- the use of processed coal fly ash waste for the lower carbon building materials including cement and concrete;
- the recovery of REE, metals (including gold, silver, platinum and palladium) and metallic compounds from E-Waste (electronic equipment, consumer electronics, power tools, print circuit board, CPU’s and smartphones); and
- the recycling of degraded or end of life Lithium-Ion Batteries to recover metals including lithium, manganese, copper, cobalt and nickel.
- Directors John Hannaford and Lachlan Reynolds visited William Marsh Rice University and KnightHawk Engineering in Houston, Texas this week to inspect the technology hub and progress on the Flash Joule Heating prototype.
MTM Managing Director, Mr Lachlan Reynolds said“We are very excited to be able to formally exercise the FJH Option and proceed to licence the Flash Joule Heating technology. The development work conducted by Rice and KnightHawk Engineering to date, which we have seen in person, has given us confidence to scale up the technology and to commercialise it. The technology applications are extremely exciting and have huge potential as the world looks to decarbonise and secure critical mineral supply chains.”
Click here for the full ASX Release
This article includes content from MTM Critical Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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