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Blackstone Minerals (ASX:BSX) has intersected a 9.15m wide zone of sulfide vein mineralisation from drilling at the Ban Chang prospect at its Ta Khoa Nickel-PGE project, Vietnam
▪ Drill hole BC20-03 intersected 4.6m of massive sulfide (MSV) and semi massive sulfide veins (SMSV) (refer to Figures 1 & 2) with the broader intersection comprising:
o 1.00m disseminated sulfide (DSS) & sulfide veinlets from 57.05m o 0.35m sulfide veinlets from 58.05m
o 0.30m MSV from 58.40m
o 2.30m DSS, 10-12% sulfides from 58.70m
o 2.35m SMSV from 61.0m
o 1.85m MSV from 63.35m
o 0.40m sulfide veinlets from 65.20m
o 0.10m MSV from 65.60m
o 0.50m DSS & sulfide veinlets from 65.70m
▪ Blackstone’s maiden three drill holes have all intersected massive sulfide nickel over a 1km strike within a 1.2km long massive sulfide target (refer to Figure 3), defined by high priority electromagnetic (EM) plates generated by the Company’s in-house geophysics crew with the support of Core Geophysics;
▪ Blackstone’s drilling continues to intersect massive sulfide within metres of the modelled EM plates, confirming EM’s potential to unlock the world-class magmatic nickel sulfide geology throughout the Ta Khoa nickel sulfide district;
▪ Blackstone’s second drill rig will continue to follow the geophysics crew throughout the Ta Khoa district, testing high priority EM targets generated from 25 MSV prospects including King Snake, Ban Khoa, Ban Chang, and Ban Khang;
▪ Blackstone is targeting MSV prospects analogous to the Ban Phuc MSV, where previous owners mined 975kt of high-grade ore at average grades of 2.4% Ni & 1.0% Cu from an average vein width of 1.3m, producing 20.7kt Ni, 10.1kt Cu and 0.67kt Co;
▪ Drilling continues at the King Cobra Discovery zone (KCZ) at depth;
▪ Blackstone’s Scoping Study on downstream processing to produce nickel sulfate for the lithium-
ion battery industry and a Ban Phuc maiden resource are on track for completion in Q3, CY20;
▪ Downstream processing potential supported by $6.8millioninvestment from EcoProCo Limited, the world’s second largest nickel-rich cathode materials manufacturer, completed in April 2020.
Backstone Minerals’ Managing Director Scott Williamson commented:
“We’re pleased to announce a significant intersection of a 9.15m wide zone of nickel sulfide vein mineralisation at Ban Chang which could have the scale and geometry to be mined as a bulk underground mining scenario. We’ll continue to explore Ban Chang’s potential to become a supplementary high-grade feed source to the main Ban Phuc disseminated sulfide orebody, with further holes planned for drilling in this area.”
Highlights: – Former Xstrata plc executive, Mr. Ian Woolsey, has joined Jervois as Group Manager Information Technology – Mr. Woolsey will lead the IT integration of Freeport Cobalt in Finland, Idaho Cobalt Operations in the United States and the São Miguel Paulista nickel-cobalt refinery in Brazil – Mr. Woolsey joins Jervois after more than 10 years with Glencore Xstrata where he led the IT integration of major …
– Former Xstrata plc executive, Mr. Ian Woolsey, has joined Jervois as Group Manager Information Technology (“IT”)
– Mr. Woolsey will lead the IT integration of Freeport Cobalt in Finland, Idaho Cobalt Operations in the United States and the São Miguel Paulista nickel-cobalt refinery in Brazil
– Mr. Woolsey joins Jervois after more than 10 years with Glencore Xstrata where he led the IT integration of major cross-border transactions including the Xstrata acquisition of MIM Holdings, Falconbridge and the Xstrata-Glencore merger
TheNewswire – 8 September 2021 – Jervois Global Limited (“ Jervois ” or the “ Company ”) (ASX:JRV) (TSXV:JRV) (OTC:JRVMF) is pleased to announce Mr. Ian Woolsey has joined as Group Manager (“ GM ”) – Information Technology (“ IT ”).
Mr. Woolsey has over 30 years of global experience across IT Strategy and Planning, ERP Program Management, Chief Information Officer and Chief Technology Officer roles across the Resources and Government sectors, including a decade of CIO / IT leadership experience with Glencore Xstrata. He has a proven track record in:
– Global ERP strategy and implementation;
– IT transformational change, including post-M&A integration for rapid delivery of synergies; and
– Executive management of the IT function with significant resources and expenditure, across diverse functions, cultures, and geographies.
Mr. Woolsey joined Xstrata plc in 2003 as the Global IT Projects Manager, responsible for the implementation of standard IT infrastructure across 10 business units in 7 countries. He transitioned to Toronto, Canada in 2006, with responsibility for delivering the successful IT integration of the newly acquired Falconbridge business. In 2008, Mr Woolsey transferred to Xstrata Nickel as General Manager Business Services, where he led the successful deployment of an integrated SAP solution for Xstrata Nickel’s global operations, across 7 sites in 4 languages.
This included coverage for Xstrata’s Integrated Nickel Operations, which included the custom feed and intermediate purchasing and recycling division, Xstrata Nickel International Limited, ran by current Jervois commercial executive Mr. Klaus Wollhaf.
Mr. Woolsey returned to Australia in 2012 as General Manager Business Systems and Integration for Xstrata Coal, then led IT integration efforts across Glencore Copper following the sale of Xstrata to Glencore in 2013.
Prior to Xstrata, Ian was an Associate Partner with Accenture, working across Australia and Asia for more than a decade, and began his career with IBM Australia.
Since 2014 when he left Glencore, Mr. Woolsey has continued to focus on delivering ERP-enabled transformation initiatives for Mining and Public Sector organisations. He holds a Bachelor of Engineering (Electrical) and Master of Commerce (Economics) from the University of New South Wales, Australia.
Jervois is pleased to welcome an operating executive of Mr. Woolsey’s caliber as it implements the requisite IT systems, reporting and governance controls across its expanding portfolio of operating assets.
On behalf of Jervois Global Limited
Bryce Crocker, CEO
For further information, please contact:
Investors and analysts:
Chief Financial Officer
Mob: +61 420 582 887
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule”, “expected” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to integration of businesses into the Jervois group and certain other factors or information. Such statements represent Jervois’ current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Jervois, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Jervois does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2021 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia
AustralianSuper announces that it acquired 47,534,965 ordinary shares in the capital of Jervois Mining Limited on 27 October 2020 and a further 13,120,773 Shares on 3 December 2020 such that immediately following the second acquisition, AustralianSuper held a total of 108,450,700 of the issued and outstanding Shares in Jervois. The Shares were acquired pursuant to private placements by Jervois to institutional and …
AustralianSuper announces that it acquired 47,534,965 ordinary shares (“Shares”) in the capital of Jervois Mining Limited (ASX: JRV) (TSXV: JRV) (“Jervois”) on 27 October 2020 and a further 13,120,773 Shares on 3 December 2020 such that immediately following the second acquisition, AustralianSuper held a total of 108,450,700 (or approximately 13.71%) of the issued and outstanding Shares in Jervois.
The Shares were acquired pursuant to private placements by Jervois to institutional and sophisticated investors. The average purchase price per Share was AUD0.305/ CAD0.29 for an aggregate total purchase consideration of AUD18.5 million/ CAD17.6 million .
The head office of Jervois is located at Suite 508, 737 Burwood Road, Hawthorn East, Victoria , 3123, Australia .
AustralianSuper acquired the Shares for investment purposes in the normal course of its business and not with the purpose of influencing the control or direction of Jervois. AustralianSuper may in the future, subject to market conditions, make additional investments in or dispositions of Jervois’ securities for investment purposes.
This news release is issued by AustralianSuper pursuant to National Instrument 62-104 Take-Over Bids and Issuer Bids of the Canadian Securities Administrators. AustralianSuper will file a report in respect of its acquisition of Shares with the applicable securities commission or securities regulator in each Canadian jurisdiction in which Jervois is a reporting issuer. A copy of the report may be obtained from Janine Cooper (phone: +61 3 8677 3203) at Level 33/50 Lonsdale Street Melbourne , Victoria , 3000, Australia . AustralianSuper has also made the necessary disclosures on the Australian Stock Exchange (ASX).
AustralianSuper is Australia’s largest superannuation fund and is regulated by the Australian Prudential Regulation Authority. AustralianSuper manages more than A$200 billion of members’ retirement savings on behalf of more than 2.3 million members from around 333,000 businesses as at 30 November 2020 .
View original content: http://www.newswire.ca/en/releases/archive/January2021/06/c5867.html
News Provided by Canada Newswire via QuoteMedia
Australia is the world's third biggest producer of cobalt, and as companies look for ethical cobalt sources outside the DRC, the country's role will continue to grow.
Cobalt prices have been trending up this past year, with analysts remaining bullish on the key raw material, which is used in electric vehicle (EV) batteries. Demand is soaring as the electronics industry comes to rely on cobalt, and its use will only increase as the world continues to digitise and electrify.
EV sales are on the rise, and these vehicles require lithium-ion batteries to run. Typically around 9 kilograms of cobalt are used to manufacture each battery, and one battery alone can have as much as 20 kilograms. As long as demand for EVs continues to go up, so too will demand for cobalt — and the EV boom has only just begun.
Cobalt is also key in several different alloys with a variety of uses, including in gas turbine engines and magnets. Particularly tough cobalt alloys, such as tungsten carbide and chromium-cobalt, can be used to cut and drill steel.
So where should keen investors look for exposure to this promising metal? The Democratic Republic of Congo (DRC) has long been the top producer of cobalt worldwide; according to the US Geological Survey, it accounted for about 70 percent of cobalt production in 2021.
However, the DRC’s mining industry is known for unsustainable mining practices and unchecked labour abuses, including child labour. The country cannot maintain its current level of production indefinitely, and many conscious investors are seeking more ethical alternatives.
Australia is one such alternative. Australia contains about 18 percent of global cobalt reserves, but is currently responsible for only about 3 percent of global cobalt output. Between the country’s sustainable mining practices and its de-risked ventures, Australia is a great pick for shrewd investors interested in the cobalt-mining industry.
Cobalt in Australia: The history of cobalt mining
Cobalt has been used since antiquity for its bright blue colouration, but the metal was only officially discovered in 1742 by Swedish chemist Georg Brandt.
Up until 1874, European mineral deposits were the primary sites of cobalt production. That year, Europe was overtaken by New Caledonia, and in 1905 Canadian deposits pulled ahead. Since around 1920, the DRC has been a major global producer of cobalt, and its cobalt-mining legacy has continued to this day. Another contemporary cobalt behemoth, China, has only made its mark as a leading producer within the last couple of decades.
In the early 20th century, cobalt’s primary application began shifting away from cosmetic purposes and toward technological pursuits. For example, in 1930, cobalt alloys containing a mixture of cobalt, aluminium, nickel and iron were first used to make high-powered permanent magnets. Other alloys were soon discovered to have varied uses for building electrical equipment and electronic devices.
Cobalt is mainly found in compounds, such as cobalt arsenide, cobalt sulfarsenide and hydrated arsenate, and it is predominantly used for alloy production. Generally, cobalt does not come from cobalt mines — in fact, 98 percent of global cobalt is a by-product from nickel and copper mines. Copper mines account for about 60 percent of global cobalt output, and nickel mines around 38 percent.
Cobalt in Australia: The Australian landscape
According to Australia’s 2020 list of critical minerals projects, there are 68 cobalt-focused projects across Australia.
The largest is Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Murrin Murrin nickel-cobalt mine, which launched in 1998 and is located in the Northeastern Goldfields region of Western Australia. The mine produces an impressive 66.7 percent of the country’s cobalt. Unlike other mines, many of which suffered a decline in cobalt output during the pandemic, Murrin Murrin experienced an uptick in production, which rose 14 percent year-over-year in 2020.
Murrin Murrin uses conventional open-pit mining for its resource extraction, and it processes and refines cobalt ore on site. In 2021, the mine produced about 30,100 tonnes of nickel, alongside 2,500 tonnes of cobalt by-product.
In 2021, Glencore produced a total of around 31,300 tonnes of cobalt between all of its operations, including those in the DRC. In addition to production, the company also processes and recycles cobalt-containing materials.
Another notable cobalt project in the country is the Broken Hill cobalt project, a new mining endeavour owned by Cobalt Blue Holdings (ASX:COB,OTC Pink:CBBHF). This project is unique for its emphasis on cobalt production — cobalt will be directly produced on site, rather than extracted as a by-product of nickel.
The Broken Hill project is anticipated to have an output of around 4,000 tonnes of cobalt annually over a 20 year mine lifespan. Broken Hill’s cobalt production process will include concentration, leaching, calcining and project recovery, and the site expects annual sulphur output of 300,000 tonnes, which will hike up the project’s value.
Importantly, Broken Hill will both produce and refine its cobalt — a welcome change from sending the raw material to another country, most often China, for refinement. This practice will reduce the unethical labour practices along the chain of production.
Many other top cobalt-producing companies have active sites in Australia, including Panoramic Resources (ASX:PAN,OTC Pink:PANRF), Australian Mines (ASX:AUZ,OTCQB:AMSLF) and Clean TeQ Holdings (ASX:CNQ). These ventures are all top nickel miners and strong producers of cobalt as a by-product.
Cobalt in Australia: The future down under
The Australian government is enthusiastic about the country’s move toward mining critical minerals, establishing a Critical Minerals Facilitation Office in January 2020 as part of a push for its burgeoning minerals sector.
Currently, Australia is the third biggest producer of cobalt worldwide, at 5,600,000 tonnes in 2021.
According to a 2020 report by Fitch Solutions, cobalt mining in Australia continues to look up. It predicts that the next decade will see a spike in Australian cobalt production, with expected average output growth of 5.3 percent per year from 2021 to 2029, as compared to average output growth of only 2.4 percent between 2010 and 2020.
Moreover, despite the fact that Australia is the third largest cobalt producer worldwide, it has the second largest reserves of cobalt. This means that the country has the potential to scale up its production slowly and sustainably, situating itself as a major world player.
Between the exploding EV market and the continued trend toward electronics sales and digitization, cobalt will likely remain a hot commodity in the mining world for years to come. Investors should be paying close attention to cobalt production, and particularly to cobalt mining in Australia, where strong cobalt output, new mining ventures and sustainable extraction practices are setting the country up for long-term success.
This is an updated version of an article first published by the Investing News Network in 2021.
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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HIGHLIGHTS: -James May becomes Jervois’ CFO after almost 15 years in leadership roles with Rio Tinto -Mr May’s most recent role in Rio Tinto was as Interim Vice President, Sales and Marketing for the Energy & Minerals portfolio, based in Singapore -Mr May was also previously the CFO of Energy Resources of Australia Limited, an ASX-listed uranium miner, majority owned by Rio Tinto -Mr May also worked in various …
-James May becomes Jervois’ CFO after almost 15 years in leadership roles with Rio Tinto
-Mr May’s most recent role in Rio Tinto was as Interim Vice President, Sales and Marketing for the Energy & Minerals portfolio, based in Singapore
-Mr May was also previously the CFO of Energy Resources of Australia Limited, an ASX-listed uranium miner, majority owned by Rio Tinto
-Mr May also worked in various business development and finance roles with Rio Tinto and prior to that commenced his career with Deloitte in the United Kingdom
25 November 2020 – TheNewswire – Jervois Mining Limited (” Jervois ” or the ” Company “) (ASX: JRV) (TSX-V: JRV) (OTC: JRVMF) announces the appointment of James May as Chief Financial Officer (” CFO “) / Executive General Manager (” EGM “) Finance, as it advances the financing and construction of its Idaho Cobalt Operations (” ICO “) in the United States and restart of the Sao Miguel Paulista (” SMP “) refinery in Sao Paulo, Brazil .
Mr May joins Jervois with more than 20 years of experience in the global resources industry. He began his career with Deloitte in London within its energy and resources division, before joining Rio Tinto in 2006.
At Rio Tinto, Mr May spent time in a variety of global positions of increasing seniority, culminating in the role of Interim Vice President – Sales and Marketing, for the Energy and Minerals sales portfolio, based in Singapore. The role is responsible for commodity sales generating more than US$2 billion of revenue annually. Mr May was also responsible for new business initiatives and marketing projects for the portfolio, including the evaluation of commercial opportunities in lithium and other battery metals.
Prior to moving to Singapore in 2018, Mr May spent four years in Darwin as Chief Financial Officer of Energy Resources of Australia Limited, an ASX-listed uranium miner majority owned by Rio Tinto. In this role he was responsible for leadership of all finance, commercial, business development and governance activities.
Mr May also spent time in corporate roles with Rio Tinto as part of the group business development team focused on corporate strategy, M&A and related projects, and in roles with group finance.
Mr May is an outstanding executive to join Jervois, and his financial, commercial, and marketing experience will be of enormous value to the Company. He will be based in Melbourne, Australia, and will start on 1 March 2021.
Mr May will be supported by a new Group Controller, Craig Morrison. Mr Morrison is currently Group Financial Controller for an Australian agriculture business with revenues approaching A$200 million, where he oversees all finance and accounting operations. Previously, Mr Morrison was Group Financial Reporting Manager based in London, United Kingdom, for a NASDAQ-listed LNG midstream infrastructure company with a market capitalization of approximately US$1 billion. Mr Morrison will also be based in Melbourne, Australia.
From 1 March 2021, Jess Birtcher will relinquish his position as Acting CFO and pass these responsibilities to Mr May, which will allow Mr Birtcher to focus on his ICO Finance Manager role ahead of a restart of construction activities on site in Salmon, Idaho, in Q2 2021.
On behalf of Jervois Mining Limited
Bryce Crocker, CEO.
For further information, please contact:
Investors and analysts:
Chief Executive Officer
Mob: +61 420 582 887
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Copyright (c) 2020 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Blackstone Minerals is pleased to announce the completion of the PFS for the development of a Downstream Refinery in Northern Vietnam.
Downstream Pre-feasibility Study (PFS) confirms technically and economically robust hydrometallurgical refining process to upgrade nickel sulfide concentrate to produce battery grade Nickel: Cobalt: Manganese (NCM) 811 Precursor for the Lithium-ion battery industry.
- Base Case
Post-tax NPV8 of US$2.01bn and internal rate of return (IRR) of 67%
- Spot Case
Post-tax NPV8 of US$3.51bn and internal rate of return (IRR) of 98%
Base Case Economics
- Upfront Project Capital of US$491m paid back in 1.5 years from first production
- Life-of-Operations revenue of US$14.0bn and operating cash flow of US$4.5bn
- Average annual operating cash flow of US$451m
- Average annual post-tax cash flow of US$365m
- Life-of-operations All-in Cost of US$11,997/ t NCM811 as compared to study weighted average forecast price on sale of NCM811 of US$16,397/ t NCM811 and current Shanghai Metals Market (SMM) spot price of US$19,559/t NCM811
Base Case Physicals
- Refinery capacity of 400ktpa
- 10-year life-of-Operations aligned with the Ban Phuc Disseminated orebody and availability of known third party concentrate feed (3PF)
- Average annual refined nickel output of 43.5ktpa
- Average annual NCM811 Precursor Production of 85.6ktpa
- First production currently targeted in 2024 and ramp up to steady state operations currently forecast to be achieved in CY 2026
- 3.9Mt of concentrate feed with average Ni in concentrate grade of 11.5%, Co in concentrate grade of 0.3% and Cu in concentrate grade of 1.1%
- Average annual copper by-product of 4.1ktpa
Blackstone Minerals (ASX:BSX, OTC:BLSTF) (“Blackstone” or the “Company”) is pleased to announce the completion of the PFS for the development of a Downstream Refinery in Northern Vietnam (“Ta Khoa Refinery Project”, “TKR” or the “Project”).
The PFS is a critical milestone for the Company and reiterates the competitive advantages of nickel sulfide projects and adding value via an integrated downstream processing strategy. The PFS demonstrates that a very low capital intensity is required for the TKR to produce Class I nickel at a scale that would make Blackstone a globally significant producer.
The PFS considers a refinery design to process up to 400ktpa (Base Case) of nickel concentrate, confirming a technically and economically robust flow sheet to upgrade nickel sulfide concentrate to produce battery grade NCM811 Precursor for the Lithium-ion battery industry.
Blackstone’s development strategy is supported by using 3PF to supplement nickel concentrate supply from the Ta Khoa Nickel Project. Concentrate feed from Blackstone’s Ban Phuc Disseminated Sulfide (DSS) orebody forms part of the overall concentrate blend. With ongoing drilling and further exploration success Blackstone believes the Base Case Refinery has the potential to be fed entirely by feedstock from the Ta Khoa Nickel Project.
The Company’s decision to proceed with the development of the Ta Khoa Refinery is contingent upon a number of factors including but not limited to future exploration success at Blackstone’s flagship Ta Khoa Mine, the ability to secure offtake for 3PF and consumer demand for battery grade NCM811 Precursor. Indicative quantum and concentrate specifications have been received from all 3PF concentrate Blackstone has included in this PFS for the Base Case TKR. Based on current and confidential discussions, BSX believes it can secure sufficient supply to meet the demand for the Base Case TKR.
The Company intends to develop and fund the construction of the TKR via a collaborative
partnership-based model. Blackstone’s intention is to retain a significant interest in the TKR and expects that its portion of funding will be met through a combination of debt, equity, and offtake financing.
Blackstone has commenced funding discussions with multiple potential partners, including NCM consumers and concentrate suppliers to jointly participate in the funding of the proposed refinery. Further, Blackstone has been approached by a number of financial advisors interested in supporting Blackstone’s funding strategy.
The Company is immediately progressing approval to commence the next phase of Definitive Feasibility Studies and pilot plant testing (in Vietnam) and is currently targeting a Final Investment Decision (FID) in CY2022.
Blackstone Managing Director Scott Williamson said the Company’s strategy to build a
downstream refinery in Vietnam is amid a very supportive ESG, macroeconomic and fiscal
backdrop. The electric vehicle revolution has accelerated demand for green nickelTM and the delivery of the PFS is an important milestone towards achieving Blackstone’s vision to integrate lithium-ion battery supply chains and enable a green solution from mine to consumer.
“The Base Case PFS financial outcomes are compelling based on an NCM811 Precursor price forecast that is conservative compared to current observable market rates. The internal rate of return on capital invested is exceptional for the Base Case, owing to very low capital intensity, a significant premium available when upgrading nickel sulfide concentrates into battery grade NCM811 Precursor and the competitive operating advantages in Vietnam, which include access to low-cost renewable hydro power.”
“Blackstone is very pleased by the level of collaboration with the Vietnamese Government to
progress the Company’s downstream refinery. As part of the PFS Blackstone completed a
location study to identify preferred Refinery locations, with each of the shortlisted potential
Refinery locations offering significant corporate tax incentives. The corporate tax incentives
offered are a strong signal for the Vietnamese Government support for Foreign Direct Investment and Blackstone’s downstream refinery strategy.”
“The Base Case Refinery represents Management’s view of the scale of operations that could over time, through exploration success, be supported by the Company’s existing nickel sulfide mineralised landholdings. Economics have been presented assuming a ten-year life-of operations, aligned with known and desired life-of-mine for 3PF concentrate sources that
Blackstone aims to secure offtake. Management considers the more likely scenario is that the Refinery life will extend beyond ten years.”
Read the full article here.
Work at the company’s Cancet project is building toward a maiden resource in Q1 2023, said Managing Director Chris Evans.
Although prices have cooled off from the highs seen earlier this year, the lithium market remains in focus and investors are interested in how to get exposure to the green energy transition.
Chris Evans, managing director at Winsome Resources (ASX:WR1), said Australian investors in particular are aware of the lithium opportunity, and reacted well to the company’s ASX listing this past November.
The company initially came to market with three lithium assets in the James Bay region of Quebec, and has since acquired two additional lithium projects in the province.
Speaking to the Investing News Network, Evans explained that Cancet is the company’s main focus. Recent assay results released during the Prospectors & Developers Association of Canada (PDAC) convention build on previous drilling at the property, and have increased the known pegmatite strike length to 1,200 meters from 600 meters.
Looking forward, Evans said that two geological teams are now on the ground at Cancet, and are investigating targets identified through geophysical surveys to figure out which of them require drilling.
Known pegmatites that have already been drilled are also being stripped and cleared so that the company can complete field mapping and decide where to drill next.
“Really all that’s working towards a maiden resource in the first quarter of 2023,” said Evans.
In terms of the overall lithium market, he said a recent Goldman Sachs (NYSE:GS) report saying the battery metals bull market is “over for now” put a damper on sentiment, but is generally not thought to be a major concern.
“I think that probably initiated a bit of a correction in the market, which may have been needed because lithium prices and stocks were at all-time highs,” he said. “But in terms of an oversupply like Goldman Sachs is predicting, I haven’t heard anyone agree with that since I’ve been here at PDAC.”
Watch the interview above for more from Evans on Winsome Resources and its plans for the next six months. You can also click here for our recap of PDAC, and here for our full PDAC playlist on YouTube.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Winsome Resources is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Revenue from Australia's mobile sector is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026. Here's what to know about this industry.
After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.
Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.
This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.
In terms of digital innovation earnings as a percentage of GDP, for example. Australia stands at 7.4 percent, significantly behind the 11.2 percent average for companies that are part of the Organisation for Economic Cooperation and Development (OECD). According to its September 2021 Policy Primer report, the Australian Academy of Sciences called for the federal government to place greater emphasis on supporting emerging digital technologies.
"Australia risks falling behind as a technologically-driven nation unless we recognise emerging digital technologies as a central, independent sector in its own right, warranting investment in the core aspects of research, innovation, and workforce development," the report stated.
Understanding Australia's mobile tech landscape
One of the drivers of Australia's tech sector expansion is its booming mobile telephone industry. This expansion has taken many forms ranging from expanded use of mobile telephony, adoption of blockchain technology for supply chain management and the rise of the cryptocurrency market. The application of mobile tech to the banking industry is just one space where mobile usage has become key and is expected to continue developing. According to research firm KPMG, digital platforms will become the preferred and dominant business model form.
Chase Bank completed a survey revealing that the COVID-19 pandemic has accelerated the adoption of mobile banking technology. Banking apps allow users to deposit cheques, pay bills and perform transfers from their mobile device.
One critical side effect of COVID-19 has been the way lockdowns and related restrictions on behaviour has changed the way people live and work. Remote working conditions and enforced isolation has triggered increased demand for improved connectivity and internet speeds to facilitate this transition in corporate culture during the pandemic.
As a result, Australia's leading mobile telephony giants have been obliged to improve data capacity and speed, especially in regional areas that have badly lagged behind urban coverage. Some people have relocated to regional areas — where connectivity remains a challenge — and others are requiring more data capacity and fast speeds to allow them to work more efficiently from home.
The Australian mobile sector is dominated by three main players: Telstra (ASX:TLS), Optus — a subsidiary of Singapore-based Singtel (SGX:Z74) — and TPG Telecom (ASX:TPG). Telstra is the largest provider of mobile services with 48.7 percent market share followed by Optus at 26.3 percent.
In 2022, there have already been several major new developments in the Australian mobile sector. One such event has been the tentative network sharing agreement announced in February between Telstra and TPG Telecom, which brings an end to the bitter rivalry between the two competitors. The agreement provides a comprehensive framework for the two telecom giants to share mobile telecommunication infrastructure across Australia.
TPG and Telstra will both enjoy significant savings and benefits from this arrangement. Telstra will reap up to AU$1.8 billion in added revenues while gaining access to TPG's spectrum that expands Telstra's fixed wireless services in regional areas. Correspondingly, TPG gains access to 3,700 Telstra towers in regional areas; this means TPG does not have to spend significant money to duplicate the infrastructure for its own use.
In addition, Telstra announced earlier in the year that it will spend up to AU$1.6 billion on new infrastructure intended to improve connectivity and internet speeds as part of its response to the overall need to accommodate rising consumer demand in the wake of the pandemic.
What's the outlook for mobile tech in Australia?
One of the positive side effects of the pandemic has been the increasing adoption of wireless services by Australians and the ownership of internet-of-things devices that are prevalent in nearly all households.
According to GlobalData, a data and analytics company, mobile sector revenue in Australia is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026 at a compound annual growth rate of 3 percent. This revenue growth will mainly accrue from growth in the mobile data subsector.
Meanwhile, the three leading telephone companies will not only be expanding their 4G services but rolling out 5G networks across the country. 5G allows for improved and additional smartphone services and also enhances fixed wireless services that are competitive with higher speed National Broadband Network (NBN) connections.
In addition, low earth orbit satellite services are beginning to roll out in Australia led by Elon Musk's SpaceX's Starlink service that offers broadband connections delivered via its satellite network.
Overfall, the winding down of restrictions due to COVID-19 will likely see the big three companies enjoy higher revenues in 2022 after declines in earnings owing to the pandemic. Telstra, Optus and TPG Telecom all experienced significant earnings drops between 2020 and 2021 due to reduced international roaming fees, softening demand for headsets and ongoing adoption of NBN services.
But the outlook for 2022 is positive given overall improved economic prospects as Australia emerges from the pandemic, which actually increased overall consumer use of communication services in 2021.
Lockdowns resulted in increased consumer uptake of online services such as online shopping, data-intensive video streaming and the additional household usage of communication services. Indeed, in 2021, data traffic reached record highs as Australian consumers demanded improved internet speeds and unlimited data plans. Remote work will likely continue to remain elevated in 2022 and beyond, which should reinforce increased consumption of home communications services.
Telstar and TPG Telecom in particular are embarking on long term strategies that will drive future earnings growth via accelerating 5G adoption, expansion in dark fibre, and increased adoption of new services such as edge/cloud computing.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Harold Von Kursk, hold no direct investment interest in any company mentioned in this article.
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