ASX:BSX

Blackstone Minerals Quarterly Report for the Period Ending 31 March 2021

Ta Khoa Nickel – Copper – PGE Project

Upstream Business Unit (UBU)

• Multiple drill rigs active focussed on resource definition drilling and exploration for disseminated sulfide (DSS) and massive sulfide vein (MSV) prospects at the Ta Khoa Nickel – Copper – PGE Project in northern Vietnam
• Total of 14,502 metres of core drilling was completed in the March quarter, of which 5,285 metres were infill drilling at the large Ban Phuc DSS open pit orebody
• Infill drilling continued at the Ban Chang MSV prospect to support resource estimations and preliminary mining studies which are ongoing
• Testing of Electro-magnetic (EM) geophysics targets confirmed additional high grade MSV potential at the King Snake and Ta Cuong prospects:
• At King Snake high-grade massive sulfide nickel, copper and platinum group elements (PGEs) were confirmed (refer to ASX announcements dated 4 February 2021, 16 February 2021 and 11 March 2021); and
• At Ta Cuong significant sulfide mineralisation was identified in new Taipan Discovery Zone (TDZ), where drill hole TC21-03 intersected 39.70m of sulfide mineralisation including DSS, semi-massive sulfide (SMSV) and MSV (refer ASX announcement 25 February 2021)

Downstream Business Unit (DBU)

• The Company confirmed that separate Pre-Feasibility Studies (PFS) will be delivered for its Upstream and Downstream business units
• The Downstream PFS is anticipated to be completed by June/July 2021 and will consider expanded downstream refining capacity, which has potential to transform Blackstone into a globally significant Class 1 nickel producer
• Feedstock, namely nickel in concentrate, for the expanded planned refining capacity is expected to include both third – party concentrate and Blackstone’s potential orebodies within the Ta Khoa district in Northern Vietnam

Blackstone Minerals Limited (ASX:BSX) expanded downstream refinery is driven by strong indicative demand for the Company’s planned downstream products which will include Nickel:Cobalt:Manganese (NCM) precursor products suitable for the Lithium-ion battery industry, for example NCM811

• Blackstone intends to collaborate with Tier 1 partners to unlock the value of its expanded downstream refinery strategy, including EcoPro who are the world’s second largest manufacturer of cathodes and a major shareholder of Blackstone.

Corporate
• Letter of Interest signed with global commodity trading group Trafigura as part of its downstream refining strategy
• Highly-experienced hydrometallurgical engineer Tony Tang appointed General Manager Project Development – Downstream
• Blackstone to spin out non-core gold assets into new Codrus Minerals Limited IPO
• Blackstone commences trading on the US-based OTCQX Best Market
• Cash balance as at 31 March 2021 of A$19.2m

Blackstone Minerals’ Managing Director Scott Williamson commented:

“The March 2021 quarter was transformative for Blackstone as plans to expand our downstream refinery capacity were outlined to the market. Executing on our planned expanded downstream refinery strategy will see the Company become a globally significant Class I nickel producer.”

“During the March 2021 quarter the company continued an aggressive drilling program, adding confidence to the existing resource base as well as successfully targeting new massive sulfide opportunities including the King Snake prospect. The Ta Khoa district remains largely untested and we are confident based on our existing resource, initial success at multiple MSV deposits and from future exploration success, that the Ta Khoa Nickel – CuPGE project will be a significant feedstock for our downstream refinery in Vietnam for many years to come”

“The formalisation of Blackstone’s relationship with Trafigura, one of the largest commodity traders in the world, was an important milestone for the March 2021 quarter. The ability for our downstream business to access third-party concentrate will be important to meet the burgeoning demand for nickel driven by rapid growth in the Lithium-ion battery industry. During the quarter Blackstone continued to collaborate with Trafigura and the Company looks forward to presenting outcomes of the PFS for its downstream refinery business in
June / July this year.”

Click here for the full press release

The Conversation (0)
Blackstone Minerals

Blackstone Minerals


Keep reading...Show less
Edison Lithium Receives Court Approval for Edison Cobalt Spin-Out

Edison Lithium Receives Court Approval for Edison Cobalt Spin-Out

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that on March 1, 2024, the Supreme Court of British Columbia issued its final order approving the Company's previously announced plan of arrangement (the "Arrangement") involving its wholly-owned subsidiary, Edison Cobalt Corp. ("Edison Cobalt"). For details regarding the Arrangement, see the news releases of the Company dated March 28, 2023, July 13, 2023, November 28, 2023, December 7, 2023, February 1, 2024 and February 27, 2024.

The Company will announce the share distribution record date and the exact number of Edison Cobalt shares issuable at a later date. The Arrangement remains subject to final acceptance by the TSX Venture Exchange ("TSXV").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Edison Lithium Announces Results of Annual General and Special Meeting

Edison Lithium Announces Results of Annual General and Special Meeting

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce the results of its annual and general special meeting of securityholders (the "Meeting") held on February 26, 2024.

At the Meeting, the shareholders of the Company approved all resolutions placed before them by management as set out in the Company's management information circular dated January 12, 2024, and the related addendum dated January 31, 2024, including: (i) fixing the number of directors at five and electing Nathan Rotstein, James (Jay) Richardson, Luisa Moreno, Gordon Jang, and Roger Dahn as directors of the Company for the ensuing year; (ii) the re-appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as auditor of the Company for the ensuing year at a remuneration to be fixed by the directors; (iii) the continuation of the Company's 2022 stock option plan; (iv) the ratification of the grant of 915,000 stock options granted to directors and officers of the Company on September 7, 2023; (v) the statutory plan of arrangement (the "Plan of Arrangement") among the Company, the Company's securityholders and Edison Cobalt Corp. ("SpinCo"), a wholly owned subsidiary of the Company (which, in addition to the shareholders of the Company, was approved by the warrantholders and optionholders of the Company); (vi) the disposition of all or substantially all of the Company's undertaking; (vii) the adoption of SpinCo's stock option plan; and (vii) the proposed private placement financing of SpinCo.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Edison Lithium Proceeds with Warrant Repricing

Edison Lithium Proceeds with Warrant Repricing

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that it is proceeding with the proposed warrant amendments initially announced on September 6, 2023. The Company had previously announced the cancellation of the proposed warrant amendments on January 2, 2024, but after further consideration and additional consultation with the TSX Venture Exchange ("TSX-V"), the Company will proceed to amend the exercise terms of an aggregate 3,926,125 common share purchase warrants out of a possible 4,048,000 warrants issued pursuant to private placements that closed on February 26, 2021, May 7, 2021 and May 28, 2021, subject to TSX-V final approval.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fortune Minerals (TSX:FT)

Fortune Minerals


Keep reading...Show less
Edison Lithium Announces Mailing and Filing of Addendum to Meeting Materials for Annual General and Special Meeting and Advises of Updates to Arrangement Terms

Edison Lithium Announces Mailing and Filing of Addendum to Meeting Materials for Annual General and Special Meeting and Advises of Updates to Arrangement Terms

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce, further to its news releases dated March 28, 2023, July 13, 2023, November 28, 2023 and December 7, 2023, that it has mailed, using notice-and-access procedures, an addendum (the "Addendum") to the management information circular (the "Circular") and related meeting materials for the annual general and special meeting (the "Meeting") of the Company's shareholders, warrantholders and optionholders (together, the "Securityholders") to be held in connection with the proposed transaction pursuant to which the Company will spin out common shares of its wholly owned subsidiary, Edison Cobalt Corp. ("SpinCo"), to its shareholders by way of statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia) (the "Arrangement").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
High Tech Metals Limited

HTM Quarterly Activities Report for the Period Ending 31 December 2023

High-Tech Metals Limited (ASX: HTM) (High-Tech, HTM or the Company), a critical battery minerals exploration Company, is pleased to provide the following report on its activities for the quarter ending 31 December 2023. The Company’s primary activities during the quarter were the staking of the Ketele LCTG Project in Ethiopia and the diamond drilling program at the wholly owned Werner Lake Project (Werner Lake, or the Project) located in northwestern Ontario.

Keep reading...Show less

Latest Press Releases

Related News

×