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For Centaurus, the arrangement with Simulus completely de-risks the exploration and evaluation stages of the nickel-cobalt project in Brazil.
Australia-based, Brazil-focused explorer Centaurus Metals (ASX:CTM) has announced it’s secured a joint venture partner for its Itapitanga nickel-cobalt project in the Carajás region of Northern Brazil.
In its Tuesday (November 27) release, Centaurus said that it had signed a binding earn-in JV agreement with the Simulus Group, an Australian battery metals-focused company which specializes in hydrometallurgy and minerals processing.
“Under the staged earn-in agreement, Simulus can earn up to an 80-percent interest in the project and will manage it through various study phases utilising its extensive in-house capabilities for process design on nickel-cobalt projects with the ultimate aim of delivering a low capital intensity process design under a definitive feasibility study (DFS) for a 250-750ktpa project,” said Centaurus.
Under the agreement, Simulus will be the project manager and Centaurus will be free-carried “throughout the various exploration, resource evaluation and feasibility phases until project financing is arranged and a decision to mine is made.”
‘Free-carry’ is when a party is not required to pay its way through a project, meaning Centaurus can sit back.
Managing director of Centaurus, Darren Gordon said the agreement “completely de-risks the exploration and evaluation stage of the project” for the company, allowing it to make a decision on investment after all the work assessing an operational mines viability is done.
Centaurus will however, provide in-country support for Simulus as required, as it describes itself as having “deep knowledge of the operating environment in Brazil.”
“This is a great partnership which should ultimately give us the best possible chance of delivering a highly profitable project in the shortest period of time to take advantage of the favorable market outlook for nickel and cobalt,” said Gordon, heaping praise on Simulus.
“Simulus is at the forefront of process development for battery grade nickel and cobalt sulphates worldwide, and this joint venture is a major coup for the company and the project, giving us a clear pathway through to development and production.”
The earn-in agreement has four stages of work for Simulus to complete: a scoping study for 21 percent, the beginnings of a feasibility study including resource drill-out and flowsheet optimization for 49 percent, a definitive feasibility study for 70 percent, and finally Simulus must finalize arms-length financing for 80 percent. After which, a decision to mine will be made.
After Simulus earns 80 percent, both companies will contribute to develop the project, which had its maiden drill program commence in August this year.
Based on that drilling, Centaurus defined an exploration estimate for the project at 280,000-495,000 tonnes of nickel including 24,500-54,000 tonnes of cobalt.
On the ASX, Centaurus was trading at AU$0.008 on Tuesday.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
An unprecedented increase in nickel prices pushed the London Metal Exchange to halt nickel trading.
Nickel doubled in price to hit a record level of US$100,000 per tonne before the London Metal Exchange (LME) decided to suspend trading on Tuesday (March 8).
The base metal, used mainly in stainless steel, but gathering attention for its use in electric vehicle batteries, was up an unprecedented 250 percent in two days on the back of a short squeeze.
“Nickel is clearly trading in crisis mode,” ING senior analyst Wenyu Yao said in a note. “Market positioning could be the trigger, but the industry has long faced structural issues.”
Nickel prices were 66 percent higher, at US$80,000, when the LME decided to suspend trading for at least the rest of the day. Earlier on Tuesday, nickel had soared to a record US$101,365 ― 111 percent higher than its closing price on Monday (March 7).
The 145-year-old exchange had been monitoring “the effect of the evolving situation in Russia and Ukraine,” saying it is clear the nickel market in particular has been affected. The LME later said it would cancel all nickel transactions that had taken place earlier in the day.
The latest price increase has been attributed to the additional time given to China Construction Bank (OTC Pink:CICHF,SHA:601939), a big state-owned lender, to make payments on margin calls it missed on Monday. Payments have now been made.
Additionally, Bloomberg reported that Chinese tycoon Xiang Guangda — who built a large short position in nickel futures and controls the world’s largest nickel producer, Tsingshan Holding Group — is facing billions of dollars in mark-to-market losses.
Low inventories have added volatility to the market, with stocks of nickel in LME-registered warehouses standing at 75,012 tonnes, their lowest point since 2019.
“Fundamentals, though supportive of stronger prices, do not justify this frenzy,” Yao said. “It remains to be seen how this crisis ends. However, the market has long been faced with structural issues.”
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Priscila Barrera, currently hold no direct investment interest in any company mentioned in this article.
As the world continues its transition towards a sustainable future, Australia has the potential to become a major player in clean energy and climate projects.
Sustainability is changing the course of multiple industries, with significant impacts on the investment sector.
Sustainable investing is the future — a means by which one can diversify their portfolio while also promoting positive societal and environmental impacts. This is arguably most evident in the energy and carbon markets.
"We're really in the middle of a low-carbon transition right now," said Adeline Aw, vice president of environmental sustainability at Singapore's Economic Development Board, according to a recent McKinsey podcast. "What's really important is to help finance and bring to life projects that can help us remove and to avoid carbon emissions."
The global push for sustainability
In 2018, scientists published a study in the peer-reviewed Earth System Dynamics, a scientific journal focused on climate change, geology and atmospheric science. According to that study, the world was fast approaching the point of no return for reversing global warming. Another report was published later that same year by the UN International Panel on Climate Change.
The second report has been the source of much confusion on the sustainability front. Many have grimly noted that it establishes 2030 as the point at which climate change is irreversible. What it actually says is that we need to significantly lower carbon emissions by that point — otherwise, we may be unable to stabilize the planet's warming.
This does not make the need for climate action any less urgent, nor does it undermine the importance of decarbonisation. It simply establishes a critical milestone for climate initiatives. That milestone has served as the bedrock for multiple countries as they lay out their environmental goals in both the short and long term.
Australia occupies a unique niche in that with respect to decarbonizing efforts. Although it was only responsible for roughly 1 percent of global carbon emissions in 2020, Australia is home to over 10 percent of the world's species. It’s also home to Daintree, the world's oldest known rainforest. Protecting the country's unique ecosystem, especially its forests, will be critical in the fight against climate change.
Australia has made great progress in this regard, and the country is currently on track to exceed its initial 2030 target for emissions reduction by up to 9 percent.
A closer look at Australia's climate change strategies
Australia has adopted what it refers to as a technology-led approach to emissions reduction. The country's Technology Investment Roadmap is foundational to this strategy, establishing a clear process for identifying, developing and deploying sustainable technology. Australia's investments are not solely domestic in nature either.
The country has also established low-emissions technology partnerships with several key global players, including South Korea, the UK, Germany, Japan and Singapore.
Australia has also established the Emissions Reduction Fund, the Safeguarding Crediting Mechanism and Climate Active initiative to incentivise decarbonisation and sustainability in both business and industry. Finally, it has defined comprehensive systems for emissions monitoring, reporting and accountability.
As some have noted, Australia could go even further than carbon neutrality with technology that already exists. It could achieve net-negative carbon, removing more carbon from the atmosphere than it creates. To that end, researchers at the Australian National University have created the ANU Below Zero Initiative, which sets the deadline for net-zero carbon emissions in 2025.
A net-negative approach to a sustainable future
Queensland Pacific Metals (ASX:QPM) is one of the companies currently leading Australia's transition towards net-negative emissions.
Its flagship project, the Townsville Energy Chemicals Hub (TECH), will produce nickel through a proprietary process that requires no tailings dams and discharges no liquids. TECH will also leverage waste mine gas from the Bowen Basin in its production process, helping offset a major contributor to Australian emissions. Finally, the company is exploring productive uses for the residue created from nickel production, primarily silica.
Recognized as a prescribed project by the Queensland government, the TECH project is expected to reduce net emissions by 14.9 kilograms of carbon dioxide (CO2) equivalent for every kilogram of nickel produced, a total reduction of 238,000 tonnes annually. The independent sustainability consultant Minviro undertook these CO2 emissions calculations in an ISO-compliant lifecycle assessment.
Australian Mines (ASX:AUZ) is another major player in the pursuit of Australia's net-zero goals.
The Sconi project, situated just 220 kilometres northwest of Townsville, aims to deliver the most sustainable, carbon-neutral-certified nickel and cobalt in the world. Australian Mines has placed its focus on developing an end-to-end production chain, including a 2 million tonne per annum ore processing plant. Expected to begin production in 2024, Sconi has a projected lifespan of over 30 years and will primarily supply materials to LG Energy Solution (KRX:373220).
As with TECH, Sconi has been identified by the Queensland government as a prescribed project.
Australia's second largest independent producer of oil and gas, Santos (ASX:STO) operates a carbon capture and storage (CCS) project known as Moomba, alongside partner Beach Energy (ASX:BPT). Developed to capture carbon produced by the nearby Moomba gas plant, the project will, upon completion, reduce Southern Australia's annual emissions by more than 7 percent. Captured carbon will be injected into depleted gas reservoirs via pipeline and is part of a plan to develop longer-term CCS capabilities in the region.
Finally, Anglo-Swiss mining and commodity company Glencore (LSE:GLEN) is currently developing its carbon transport and storage company project, which will capture emissions from a coal-fired power plant for storage in Queensland's Surat Basin. Speaking to Reuters, a Glencore spokesperson noted that if proven sustainable, the basin could hold "very sizable" volumes of carbon.
There are many carbon-focused projects in Australia across multiple industries and sectors, which together have the potential to greatly reduce the country's carbon emissions, while also providing compelling opportunities for sustainable investment.
This INNSpired article is sponsored by Queensland Pacific Metals (ASX:QPM). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Queensland Pacific Metals in order to help investors learn more about the company. Queensland Pacific Metals is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Queensland Pacific Metals and seek advice from a qualified investment advisor.
Indonesia, the Philippines and Russia were the top nickel-producing countries in 2021. Interested in nickel investing? Find out which other nations made the list.
As the electric vehicle (EV) industry continues to boom, the future of nickel looks bright in the coming years, and activity in the world’s top nickel-producing countries could increase.
With demand for the commodity continuing to grow, companies and countries alike have been eager to jump on the production bandwagon.
Having said that, it’s worth keeping the top nickel-producing countries in mind. Here the Investing News Network presents the top nickel-producing countries of 2021, based on the latest data from the US Geological Survey.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Developing a Sustainable and High-Purity Battery Materials Refinery Project
The rapid growth of the electric vehicle (EV) industry has created a strong demand for battery materials. The expected demand has been intensified by efforts from various governments to support decarbonization goals. A key element of the EV industry is nickel, which is a base metal that is mainly used in stainless steel. The nickel industry’s environmental, social and governance (ESG) credentials have recently received considerable attention as well.
Still, the most pressing issues facing the nickel industry relate to the environment –– specifically carbon emissions and environmental footprint. Even though nickel supports the EV industry and thus the green economy, current production comes largely from Indonesia. The country is the largest producer of nickel and it does not have a net-zero plan by 2050. New High Pressure Acid Leach projects being constructed in Indonesia will also require tailings dams and effluent disposal, which will leave a significant environmental footprint. As a result, companies with prospective nickel and battery material projects with strong sustainability credentials may present an exciting opportunity for investors.
Queensland Pacific Metals (ASX:QPM) is a company focused on developing its sustainable and high-purity battery materials refinery project in Townsville, Northern Queensland. The company’s fully-owned flagship Townsville Energy Chemicals Hub “TECH” project will be a modern and sustainable producer of critical metals for the lithium-ion battery and electric vehicle sector.
“We believe that the TECH Project can be a global leader in sustainable battery metal production, with our net-negative carbon emissions, zero liquids discharge and no requirement for a tailings dam. Methane emissions from coal mining in the Bowen Basin is one of Australia’s biggest contributors to carbon emissions. By working with our partners to capture the waste gas and utilise it at the TECH Project, we simultaneously reduce carbon emissions, whilst producing critical battery metals to enable the electrification of the automobile industry,” said Managing Director Dr Stephen Grocott in an interview with INN.
The company’s TECH project will process high-grade ore imported from New Caledonia to produce nickel sulfate, cobalt sulfate, high purity alumina and other by-products –– maximising the value of the underlying metals in the ore. In November 2021, an ISO-compliant Life Cycle Assessment was completed by Minviro Ltd. The assessment highlights the TECH Project as not only net-zero carbon but significantly net Carbon Negative. The Life Cycle Assessment calculated that in steady state operation, the TECH Project will reduce carbon emissions by 238,000 tonnes per annum, the equivalent of 52,000 typical
Queensland Pacific Metals is committed to environmentally sustainable production. The company has entered into an MOU signed with Transition Energy Corp. to commission the supply of waste gas that will be used to fuel the TECH project. The company has also entered into an MOU with North Queensland Gas Pipelines for the transport of the fuel.
In June 2021, Queensland Pacific Metals formed strategic partnerships with LG Energy Solution and POSCO to significantly advance its project. LG is the world’s largest battery manufacturer and this partnership represented their first investment in their nickel supply chain. POSCO is one of Korea’s biggest conglomerates and one of the largest steel producers in the world that is seeking to diversify its assets. POSCO recently purchased 30 percent of a significant nickel project from First Quantum Minerals Ltd. (TSE:FM) called Ravensthorpe. The partnership involved an equity investment of US$15M by LG and POSCO in Queensland Pacific Metals, resulting in the companies becoming shareholders with respective ownership interests of 6.4 percent and 2.8 percent. As part of the partnership, the company also entered into a binding offtake agreement with LG and POSCO for almost two thirds of its nickel and cobalt production.
The company’s 290-hectare TECH project is strategically positioned 40 kilometers south of Townsville in the Lansdown eco-industrial precinct. The precinct is anticipated to become Northern Australia’s first environmentally-sustainable advanced manufacturing, processing and technology hub. Ore will be imported from New Caledonia, unloaded at the Port of Townsville and transported by road to Lansdown. QPM products will then be transported back to the Port for export to global customers.
Queensland Pacific Metals’ TECH project is well supported by all levels of government. At a State level, the TECH Project has been awarded Prescribed Project status by the Queensland Government, making it a project of state significance.
QPM is currently completing a Definitive Feasibility Study for the TECH Project, which is expected to be completed mid 2022. Subject to financing and approvals, construction could start later this year with first production in 2024.
- Queensland Pacific Metals (ASX:QPM) is developing its sustainable and high-purity battery materials refinery project in Townsville, Northern Queensland.
- The company’s fully-owned flagship Townsville Energy Chemicals Hub “TECH” project will produce critical battery metals, including nickel sulfate, cobalt sulfate, high purity alumina and other by-products.
- Queensland Pacific Metals’ TECH project has a minimal environmental footprint with zero liquids discharge and no requirement for a tailings dam. The project will also be net carbon-negative according to an ISO-compliant life cycle assessment.
- The company has strategic partnerships in place with LG Energy Solution and POSCO with each party obtaining shareholder status in Queensland Pacific Metals and having signed binding offtake agreements for nickel and cobalt.
- Queensland Pacific Metal’s TECH project is strategically positioned in the Lansdown eco-industrial precinct that is anticipated to become Northern Australia’s first environmentally-sustainable advanced manufacturing, processing and technology hub.
Townsville Energy Chemicals Hub “TECH” Project
The Townsville Energy Chemicals Hub “TECH” project is located in the Lansdown eco-industrial precinct in Northern Queensland. The 290-hectare project has access to skilled labor, engineering services and infrastructure including port, rail, water pipeline, gas pipeline, electric transmission, fiber optic communications and solar arrays.
The company’s TECH project will process high-grade ore imported from New Caledonia to produce nickel sulfate, cobalt sulfate, high purity alumina and other by-products –– ultimately resulting in almost zero-waste products for the first time in the world. New Caledonia hosts many ore supply partners with long-established mining operations. The ore would be transported by road or rail and unloaded at the Port of Townsville. The TECH project proposes to use a patented technology called DNi Process™ to process the ore in a processing plant.
Dr. Stephen Grocott - Managing Director and CEO
Dr. Stephen Grocott is an accomplished executive in the mining and mineral processing sector with nearly 40 years of international experience. Dr. Grocott was the chief technical development officer at Clean TeQ Holdings Limited in which he was accountable for all technical and process development. He also supported technical marketing, due diligence and project funding for the A$2B Sunrise Ni-Co-Sc Project in NSW. Dr. Grocott’s exposure to EV and battery producers combined with his world-class expertise in process and development for minerals processing and battery chemicals will underpin the progress of the company
Duane Woodbury - Chief Financial Officer
Duane Woodbury has more than 25 years of experience in listed equity markets. His experience includes involvement with many organizations in Australia and overseas. Woodbury has worked with Macquarie Bank. He has also worked with Kingsgate Consolidated Ltd. as CFO. His most recent role was CFO at Metro Mining Ltd. where he successfully procured all funding required to construct the Bauxite Hills mine. At Metro Mining Ltd., he also secured a loan from Northern Australia Infrastructure Facility (NAIF) to fund expansion initiatives. During his career, Woodbury has managed large debt and equity raisings for development and operating companies primarily in the resources sector.
Barry Sanders - Project Director
Mr Sanders has over 30 years’ experience, including 20+ years in leadership and strategy roles involving the delivery of complex industrial, power, mining and oil & gas projects throughout the Asia Pacific region. Barry is highly regarded by industry and peers for exemplary leadership across construction, commissioning and project delivery with roles at GE, John Holland, Thiess, Jacobs and Clough.
Corinne Bufnoir - General Manager New Caledonia
Mrs. Bufnoir is a geologist engineer with 20+ years’ experience in the nickel industry. Corinne has had a public-private career in areas related to strategy and resource management in lateritic nickel mining operations and has strong New Caledonian relationships and ore supply chain operating experience. Corinne's most recent role was mining counsellor to President of the New Caledonia Government. Corinne has worked for a range of New Caledonian and international organisations including country manager for Transamine Trading SA and Queensland Nickel Pty Ltd. Previously, she held senior roles with the New Caledonian Department of Industry, Mines & Energy and Goro Nickel New Caledonia
Cyprium Metals Limited (ASX: CYM) (“Cyprium” or the “Company”) is pleased to announce further assay results from 28 RC holes (for 7,504m) of the Nifty West drilling program. The drilling programme targeted a lightly drilled area, up-plunge of the former underground mine in the keel area of the Nifty Syncline, below the western end of the Nifty open pit (refer to Figure 1).
- Assay results have been received from a further 28 RC holes drilled at Nifty West, targeting lightly tested areas of copper mineralisation below the former Nifty open pit.
- Confirms continuation of significant copper mineralisation in the keel zone to the west at 80- 100m thick, enhancing a potential large-scale open pit development.
- Significant results include:
Hole 21NRWP018 - 86m @0.57% Cu downhole zone of copper mineralisation including:
- 8m at 0.49% Cu from 170m including:
- 1m at 1.09% Cu from 176m, and
- 9m at 0.81% Cu from 181m including:
- 2m at 1.23% Cu from 182m & 2m at 1.05% Cu from 187m, and
- 18m at 0.96% Cu from 196m including:
- 1m at 2.03% Cu from 197m & 3m at 1.85% Cu from 202m & 1m at 1.36% Cu
from 207m & 2m at 1.29% Cu from 209m, and
- 10m at 0.76% Cu from 215m including:
- 1m at 1.00% Cu from 217m & 1m at 1.41% Cu from 223m, and
- 3m at 1.09% Cu from 226m including:
- 1m at 1.62% Cu from 226m, and
- 12m at 0.52% Cu from 244m including:
- 1m at 2.21% Cu from 245m
Hole 21NRWP020 - 97m @0.47% Cu downhole zone of copper mineralisation including:
- 7m at 0.58% Cu from 153m including:
- 1m at 1.02% Cu from 156m, and
- 5m at 0.60% Cu from 169m including:
- 1m at 1.12% Cu from 170m, and
- 6m at 0.91% Cu from 179m including:
- 3m at 1.30% Cu from 180m, and
- 5m at 0.54% Cu from 187m including:
- 1m at 1.02% Cu from 190m, and
- 15m at 0.70% Cu from 201m including:
- 2m at 1.49% Cu from 207m & 1m at 1.19% Cu from 215m, and
- 4m at 0.75% Cu from 222m including:
- 1m at 1.78% Cu from 223m, and
- 7m at 1.90% Cu from 235m including:
Managing Director Barry Cahill commented:
“We have been very pleased with the drilling results received to date. These assay results continue to confirm the presence of a substantial zone of copper mineralisation which is up-plunge of the former underground mine. We continue to be excited about the receipt of the results of balance of the outstanding assays. It is not often that you have the privilege of getting these widths of mineralisation beneath an existing shallow open pit. The assays will be included in an updated mineral resource estimate that we look forward to releasing during the first half of this year.”
This article includes content from Cyprium 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.
Successful in-fill drilling continues to de-risk the Project by increasing confidence in the shallow open pit mineralisation that will underpin early payback of the planned mining operation
Centaurus Metals (ASX Code: CTM) is pleased to report outstanding new results from ongoing resource development drilling at its 100%-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil. The results are expected to further increase confidence in the Mineral Resource before delivery of the Definitive Feasibility Study (DFS) and initial Ore Reserve estimate due by the end of calendar 2022.
- Significant shallow results received from ongoing in-fill drilling at the Jaguar Central (JC), Jaguar South (JS) and Jaguar Northeast (JNE) deposits, demonstrating the continuity of the mineralisation within the current Mineral Resource model. New assay results include:
- 46.0m at 2.17% Ni from 128.0m including 23.2m at 2.82% Ni from 148.0m in JAG-DD-22-274 (JC)
- 49.3m at 1.20% Ni from 31.9m including 13.2m at 2.37% Ni from 53.5m in JAG-DD-22-262 (JC)
- 38.3m at 1.16% Ni from 87.7m in JAG-DD-22-246 (JS)
- 15.2m at 2.12% Ni from 187.8m including 2.6m at 9.14% Ni from 200.4m in JAG-DD-22-260 (JS)
- 33.3m at 0.89% Ni from 136.3m in JAG-DD-22-282 (JC)
- 26.9m at 0.93% Ni from 91.6m in JAG-DD-22-265 (JC)
- 22.5m at 1.01% Ni from 116.5m including 6.0m at 2.29% Ni from 133.0m in JAG-DD-22-272 (JC)
- 15.0m at 1.42% Ni from 122.0m including 5.5m at 2.82% Ni from 126.0m in JAG-DD-22-260 (JS)
- 20.3m at 0.93% Ni from 62.5m in JAG-DD-22-265 (JC)
- 13.1m at 1.40% Ni from 116.2m in JAG-DD-22-271 (JS)
- 14.9m at 1.22% Ni from 90.4m in JAG-DD-22-277 (JS)
- 9.3m at 1.51% Ni from 183.5m including 3.5m at 2.86% Ni from 183.5m in JAG-DD-22-282 (JC)
- 14.0m at 0.86% Ni from 40.2m in JAG-DD-22-259 (JS)
- 13.2m at 0.94% Ni from 162.0m in JAG-DD-22-260 (JS)
- 12.6m at 1.05% Ni from 28.4m in JAG-DD-22-265 (JC)
- 11.7m at 0.93% Ni from 88.0m in JAG-DD-22-259 (JS)
- The Jaguar December 2021 Mineral Resource Estimate (MRE), comprising 80.6Mt @ 0.91% Ni for 730,700 tonnes of contained nickel, is already one of the largest nickel sulphide resources held by an ASX-listed company and the largest outside of the majors.
- The next Mineral Resource update scheduled for Q3 2022 will underpin the Definitive Feasibility Study (DFS) and the Project’s first Ore Reserve estimate.
- There are currently 15 rigs on site (13 diamond and two RC) drilling double-shift with the drilling currently focused on upgrading as much of the MRE into the Measured and Indicated categories as possible.
- Centaurus is well-funded with cash reserves of approximately $65 million.
The resource definition drilling program currently underway is expected to upgrade more of the Jaguar MRE into the Measured and Indicated categories in advance of Ore Reserve estimation as part of the DFS.
Centaurus’ Managing Director, Mr Darren Gordon, said: “We are extremely pleased with how the resource definition drilling program is progressing, with the ongoing drilling continuing to de-risk the project by demonstrating the continuity of the mineralisation within the cornerstone Jaguar deposits.
“Seeing high-grade, shallow intersections like 46.0m at 2.17% Ni within a constrained US$22,000/t nickel price pit shell gives us a lot of confidence that the early stages of a future mining operation at Jaguar can support robust capital payback on the project.
“The target pit we are using for the in-fill drilling has expanded considerably since the Scoping Study was delivered, and this has resulted in most of the diamond rigs on site now being swung onto in-fill drilling so we can deliver the planned MRE upgrade by the end of Q3 2022. This updated MRE will, in turn, underpin the initial Ore Reserve for the DFS.
“In-fill drilling is a clear focus of our drilling effort right now. We expect a steady flow of results from this work over the next couple of months as reflected in the number of drill holes currently in the laboratory for assay. We currently have a total of 15 rigs operating on-site, with two rigs currently continuing to focus on resource growth step-out drilling and the balance currently dedicated to in-fill drilling. Once the MRE upgrade is complete, we will swing most of the rigs back to resource growth and discovery drilling.”
Resource Development In-fill Drilling
The December 2021 Mineral Resource Estimate (MRE) comprised 80.6Mt @ 0.91% Ni for 730,700t of contained nickel (Table 2), with an Indicated component of the Resource being 43.4Mt @ 0.92% Ni for 397,000t of contained nickel, representing 54% of the Global MRE. The total MRE at Jaguar has increased by 30% since the Scoping Study Resource Estimate was announced in March 2021 and more than 40% since the Company’s maiden Resource was announced in June 2020 (Figure 1).
The focus of drilling during the first half of 2022 has shifted to resource development in-fill drilling at all of the Jaguar Deposits. In-fill drilling is designed to upgrade all resources within a constrained US$22,000/t nickel price pit shell limit into the Measured and Indicated categories.
The US$22,000/t pit shell limit is considerably bigger than the shell used for the Scoping Study, which was generated using a US$13,800/t nickel price. The Company is targeting more than 500,000t of contained nickel in the Measured and Indicated categories of the next MRE based on the extensive in-fill drill currently being undertaken and the MRE already in place.
Figure 1 – The Jaguar JORC Mineral Resource Estimate (MRE) Growth
This article includes content from Centaurus Metals (ASX Code: CTM), 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.
A Canadian fund provider is debuting a version of its popular bitcoin ETF in Australia. Is now the best time for this launch?
Australian investors are getting a new way to invest in the volatile bitcoin space thanks to a deal between an asset management company and a Canadian fund provider.
On May 12, Canadian fund maker Purpose Investments launched a version of its bitcoin exchange-traded fund (ETF) in the Australian market by way of a partnership with Cosmos Asset Management, which is owned in part by the Australian division of Mawson Infrastructure Group (NASDAQ:MIGI).
“We have brought together a team of global experts to offer Australian investors access to a truly high-quality product,” Dan Annan, Cosmos Asset Management CEO, said in a statement to investors.
ETF maker pursues rising international interest in cryptocurrencies
In an interview with the Investing News Network (INN), Vlad Tasevski, chief operating officer and head of product at Purpose Investments, said the firm has been actively pursuing ways to offer its crypto funds internationally.
The executive said there has been widespread interest in BTCC since its launch back in February of last year.
As the firm began evaluating how to approach this demand, the company considered setting up shop in the Australian market, Tasevski said. However, eventually the Canadian fund provider went with the partnership route.
Tasevski called Australia “the next logical jurisdiction" for the firm as it expands with its crypto funds.
When asked what makes Australia so attractive for the expansion of BTCC, the executive said it has a similar market structure to Canada, and credited securities regulators in the nation for being more comfortable with cryptocurrency listings than other jurisdictions.
Purpose has strong long-term outlook for digital assets
Although crypto assets are facing a serious ongoing downturn in value that has created significant losses, Tasevski told INN that Purpose Investments is undeterred in its long-term crypto outlook.
“The amount of capital and the amount of people involved in the space has never been higher,” Tasevski said.
The executive said he views his company's offerings as very flexible for investors. “We'll be here for (investors) to actually give them the ability to very easily access it whenever they feel it is appropriate for them,” he said.
Tasevski added that he views the current downturn for bitcoin as “one of the best entry opportunities in the last year and a half.”
As bitcoin struggles, ETF firm celebrates structural victory
Purpose Investments has suggested to investors that accessing the bitcoin market through its funds is a safer route than going it alone, especially given the current period of remarkable losses.
According to Tasevski, the firm's products offer liquidity to investors and provide a measured approach for people who want exposure in this segment.
“We have been very clear that this is a volatile asset class,” he told INN. “And investors should kind of understand the level of volatility that they will be taking on.”
The investment executive said the infrastructure security provided by the rules ETFs must follow has been a boon as the crypto space faces major volatility.
Even so, BTCC has been rocked in 2022 based on the performance of bitcoin. Over a year-to-date period, the fund had gone down in value by over 35 percent as of the closing bell in Canada on May 11. In the past month alone, BTCC has dropped in value by over 20 percent.
Som Seif, founder and CEO of Purpose Investments, recently said crypto is a “core component” for the firm “when solving problems for (its) customers.”
Digital assets have never been more easily available as tools for all types of investors.
While many experts remain confident in the long-term outlook for bitcoin and other cryptocurrencies, the considerable volatility prevailing in the market can make the space difficult for newcomers to stomach.
So far in 2022, bitcoin losses have highlighted the lack of stability in digital coins — but of course, as some have argued, these big moves can also provide entry points and opportunities for savvy investors.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: 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.
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European Lithium Executive Chairman Tony Sage: Developing the First Lithium Hydroxide Plant in Europe
European Lithium Executive Chairman Tony Sage said, “There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”
European Lithium Executive Chairman Tony Sage: Developing the 1st Lithium Hydroxide Plant in Europe youtu.be
European Lithium (ASX:EUR,FWB:PF8) Executive Chairman Tony Sage discussed the company’s Wolfsburg project in Austria, a country with a rich mining history dating back to WWII that maintains its infrastructure.
Wolfsburg continues that tradition, positioned only 45 kilometres from the city that hosts the largest Samsung battery factory.
"It’s quite unique. In Europe, a lot of the lithium mines are at the exploration stage," Sage said. "This mine was built back in the '80s by the Austrian government. So all the work has been done. If we were going to do this project today, we would have to get environmental approval and spend about $100 million — but they did all the work and the licence is in perpetuity.
“We can now access that mine and start mining immediately. In fact, in 2017, we mined it and took out 1,500 tonnes, which is a massive advantage in the lithium industry because we were able to build a pilot plant and put 300 tonnes of the material through the pilot plant, which gave us the results that we were looking for in that it's high-grade product.”
Sage also discussed European Lithium’s goals with the project. “Our aim is to mine it. It's a very simple mining process. We're in the process now of trying to acquire land nearby so we can actually put a conversion plant and a hydroxide plant on it. There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”
Sage told the Investing News Network that the government is supportive of its endeavours. “The Austrian government is very keen for us to build hydroxide plants so they can actually entice vehicle companies to build a factory nearby the hydroxide plant. This way, we can have a mine right through to the battery solution for the Austrian government. In the end, all we can do is get the mines up and operating, build the hydroxide plant and see what happens.”
The mine itself is underground. “Underground mining techniques are used all around the world. When they built it, they actually overbuilt — so when we decided to mine back in 2017, it was quite easy for us to find the seam of the orebody and then take the ore out," Sage said.
“We completed a prefeasibility study in 2018. The cost structure then was about US$7,500 per tonne to produce the hydroxide. Right now, the hydroxide price is around US$69,000 a tonne — that’s a massive profit margin that we don’t see as sustainable long term. When we do our definitive feasibility study, we're probably going to use an average price over the life of mine of about US$25,000 — but that's still a huge profit margin. That feasibility study is coming within the next four months, when we’ll be in a good position to partner with someone.”
Watch the full interview of European Lithium Executive Chairman Tony Sage above.
Disclaimer: This interview is sponsored by European Lithium (ASX:EUR,FWB:PF8). This interview provides information that was sourced by the Investing News Network (INN) and approved by European Lithium in order to help investors learn more about the company. European Lithium is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
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