Top News

Magnis Provides Updates on Imperium3 Townsville and Nachu Graphite Project

Magnis Energy Technologies Ltd (“Magnis” or the “Company”) (ASX:MNS) is pleased to present its Quarterly Activities Report for the period ended 30 June 2019.

Magnis Energy Technologies Ltd (“Magnis” or the “Company”) (ASX:MNS) is pleased to present its Quarterly Activities Report for the period ended 30 June 2019.

The major activities announced during the past quarter are summarised in this report.

Townsville Project Feasibility Study Update

Imperium3 Townsville (“iM3TSV”) has made solid advances on the feasibility study it is undertaking for a lithium-ion cell manufacturing facility in Townsville, Queensland. Magnis has a one third ownership in iM3TSV.

Further to the announcement made on 11 April 2019 to the ASX, the feasibility study was initially focusing on a 15 GWh lithium-ion cell manufacturing facility. Subsequent design work resulted in a modular design that captured economies of scale whilst allowing the project to be staged. The study and relevant costings will now be centred on three 6 GWh modules, effectively making the facility a 18 GWh plant.

An initial draft version of the Feasibility Study has been submitted to the Queensland Government in recent days but will be released in its final format to the Queensland Government on or before 30 September 2019.

The study to date is confirming the suitability of Townsville in large-scale manufacturing because of:

Market proximity to rapidly growing Asian economies where electrification of transport and energy storage are emerging as disruptors in global markets; Page 2 of 7

• Logistics with easy access to Townsville Port and local availability of battery materials and precursors such as lithium and manganese;

• The right people to execute with a supportive government and project team with unrivalled expertise in lithium-ion battery (LIB) innovation, business development and project delivery;

• Townsville’s plans to be a leading city of the future with an ambition to become the centre of high technology manufacturing with an emphasis on sustainability.

Figure 1: LIB Manufacturing Plant 3D Cut-out View

The business case for the facility at Townsville continues to positively evolve across the following key areas:

Strong Battery Market Fundamentals. Electrification of mobility and the transition to renewables continued unabated in 2018. Global growth in electric vehicle sales was over 50% above that for 2017 with 2019 forecast to deliver even greater growth as automotive manufacturers broaden their EV offering across their fleet;

• Growing Government Support. The average cost of energy generated by renewable solar and wind projects fell below the average cost of existing alternatives in 20181. This has encouraged public support for climate action in many jurisdictions around the world through lower power prices, new policies incentivising electromobility, renewables and LIB storage;

• Local Business Engagement. iM3TSV is also investigating and identifying future participation of local businesses in both the construction and operating phases of the project. iM3TSV’s scoping study established local content opportunities to be in the order of A$300 million across a range of items including labour, power, fuel, security and logistics;

• Global Partnering. iM3TSV is continuing to establish global partnerships with component suppliers, industry specialists and tertiary education organisations (international and national). Testing and qualification of battery input materials involving over 30 well known global suppliers has occurred over the past 12 months in iM3NY’s facility located in upstate New York;

• Downstream Co-Location Opportunities. Opportunities representing an additional potential economic gain to the local economy in the order of US$750M to US$1.5B annually; and

• Cost Competitiveness. iM3TSV is engaging with each level of government to seek to create supportive policy, targeted incentivisation and collaboration for future R&D initiatives.

The economic and strategic benefits of the project include

• Creating approximately 1150 jobs in a high technology industry;

• Promoting sustainable industries in North Australia;

• Supporting Townsville through the current local economic downturn;

• Realising higher value from Australia’s resource endowment; and

• Transitioning Australia to a lower carbon economy and associated industries.

Figure 2: View of Townsville LIB Office

Creating Australia’s first Giga-scale LIB manufacturing facility has required bringing together the technical expertise of global equipment vendors with local engineering specialists. In particular, Ausenco, which is based in Brisbane is overseeing process development and the GHD office in Townsville is overseeing site development and building design.

To date iM3TSV is encouraged by the response it has received from the financial community and government groups regarding financial participation in the project. All groups are awaiting the feasibility study which will be a major catalyst prior to making a commitment.

Nachu Graphite Project Update

The Nachu Graphite Project in Tanzania has included some recent improvements in graphite processing techniques as reported to the ASX on 26 June 2019.

Several continuous improvement programs have been undertaken in recent months with one significant result being the ability to process oxide material as mined (see below). These improvements in project fundamentals are supporting the capture of engineering cost efficiencies and the advancement of financing negotiations.

The Board and Management team are focused on achieving a suitable financing package in an appropriate format to develop the quality Nachu Graphite Project.

Advancements in Processing Efficiency

Continuous improvement programs within the product processing and beneficiation proprietary technology area for the Nachu Graphite Project are culminating in improved economics and process flow. These programs have been directed by Magnis CEO Dr Frank Houllis who has over 25 years of experience in process metallurgy. Frank has been instrumental in taking advantage of the excellent crystal structure of graphite in Nachu ore to produce >99% purity graphite products at the mine with only 4 stages of flotation when the industry standard is ~95% purity using significantly more stages of flotation.

Oxide material previously to be stockpiled for later batch processing at end of mine life, can now be processed as mined through one simplified action. This translates to approximately 10% reduction of the volume of oxide material entering the process stream. This enables the removal of the oxide stockpile and associated rehandling costs to realise improved upfront efficiency in the mining sequence. Mining schedules are now being re-examined with a view to sequencing the oxide material from 2m depth initially to reduce required capital for prestrip, which previously involved clearing to a depth of 14 metres. Through this work, the operating expenditure for the initial years of the project operation is being optimised as part of project funding programs underway.

Progress to Construction Commencement

The improved processing and mining fundamentals traverse into additional support of the full Nachu Graphite Project BFS2 outcomes. Magnis Managing Director Marc Vogts is now using his extensive project execution expertise to oversee these improvements are captured in the completion by third parties of full engineering and procurement contract work programs that are occurring in parallel with project financing efforts. With all compensation and licenses now in place, these preparation activities are now quickly being finalised along with a schedule towards Nachu being the next major African graphite project to commence construction.

Nachu Graphite Project Site Works

The clearing of the Nachu Graphite Project access roads and community diversion roads continues to progress smoothly. The main access road to the Special Mining Licence area has been cleared, clearance of the southern diversion road is near completion and internal mining lease access roads continue to be surveyed and cleared to optimise logistics for project implementation. The southern diversion road is a new access road along the southern mining lease boundary developed to keep communities connected without the need to traverse the mining lease.

Figure 3: Various tree and vegetation clearing activities within the Nachu Graphite Project

Community Assistance

Magnis continues to have exceptional support from the local community and in turn actively supports the community. Recent support includes timber from clearing works being made available to communities that can be milled for lumber for projects or used as fuel for households.

With the assistance of Magnis subsidiary company, Uranex Tanzania Limited (UTZ), local village groups have formed small businesses producing aggregates which they can sell to local construction businesses within the District.

Following on from the successful program distributing approximately 3,000 story books and maps of Tanzania to Primary Schools, UTZ continues to support students and schools within the Ruangwa District with approximately 2,000 Secondary School books covering Chemistry, Biology and Physics being distributed to the 16 Secondary Schools in the District. UTZ has also provided assistance for specific school needs including assisting in student desk repairs and solar power initiatives.

Batteries supplied to US based Martac

As announced to the ASX on 15 May 2019, technology partner Charge CCCV (“C4V”) has supplied batteries to the US based Martac, using its proprietary BMLMP cathode technology for its unmanned water and surface vessels. Magnis currently holds a 10% ownership in C4V.

The batteries that have delivered to Martac are lithium-ion based with the BMLMP cathode composition. Each battery is 20KW in size and these will be used in commercial marine vessels for demonstration and testing purposes. The aim under the extreme condition testing program would be to make the BMLMP batteries compatible in many applications. The high power and energy density batteries do not have the ingredient of cobalt and focus on the use of higher voltage composite materials in combination with a higher energy anode, along with unique 3D electrode designs that reduce costs and have the benefit of relying on a less volatile supply chain of composition materials

The C4V Generation 1 battery cells were built in prismatic form factor with the BMLMP cathode and delivered to Martac as fully built battery packs for drop in replacement. The prismatic cells built are of the exact size that iM3NY are aiming to commercially produce from the New York Battery Plant. Magnis has a 47% ownership via its direct and indirect shareholding in the iM3NY company and NY battery plant project. Martac have already signed a commercial in confidence agreement with C4V and iM3NY on cost and supply terms of batteries to be used in maritime boats. It is anticipated Martac would need several hundred MWh of batteries over the next five years to satisfy the demand levels they currently have for their vessels.

New York battery plant funding

Amended documents to the term sheet announced on 18 March 2019 were received after major delays to the time frame provided by the lender. The recent documents require further changes and clarification before any progression on the offer can be made.

During the quarter several groups including Tier-1 overseas investment banks have been conducting due diligence on project funding for New York. iM3NY believes a number of these groups are in the final stages of due diligence with the majority looking at a split of debt and equity into the project.

Other battery plants

Over the last few years the Company and its partners have highlighted some future growth areas to produce lithium-ion batteries. Recent high-level government meetings in the sub-continent and Asia have yielded promising results with regard to establishing future lithiumion battery manufacturing plants with more details to be announced as they come to hand.

Funding

The cash position for the Company at 30 June 2019 was A$1.88M.

The Company notes the estimated cash outflows for the next quarter as per the released Appendix 5B report to the ASX today. The Magnis Board and Management team are currently in discussions regarding fund raising for the Company to further develop the suite of projects. Accordingly, the Company will update shareholders and the market when more information can be disclosed on execution of such transactions.

The Company has a 10% interest in battery technology group C4V and has provided a shortterm loan currently amounting to A$1.3M to C4V that is expected to be repaid over the next two quarters.

In addition to this, a re-imbursement of working capital contribution by Magnis to iM3TSV to the amount of $400,000 is expected by the end of the September quarter.

Tenements

The following are the Mineral Tenements held by the Company:

SML550/2015 SML Nachu (100%)

PL10929/2016 Nachu (100%)

Marc Vogts

Managing Director

Magnis Energy Technologies Ltd

+61 2 8397 9888 www.magnis.com.au

1. https://reneweconomy.com.au/australias-plunging-wind-solar-storage-costs-stun-fossil-fuel-industry-60383/

2. ASX Release Date – 31 March 2016

Click here to connect with Magnis Energy Technologies (ASX:MNS) for an Investor Presentation.

LMR:CA
Featured
city harbour with boats

Australia isn't a producer of graphite (yet), but three states in the country are home to millions of tonnes of reserves and resources.

Graphite has been growing in popularity in recent years as its applications as a battery mineral are realised, and as the popularity of electric vehicles grows around the world.

A form of carbon, graphite is a good conductor and is invaluable in electronics. It comes in three different forms, each with their own valuable applications in modern technology, making it a sought-after commodity without which supply lines for many industries around the world would grind to a halt.

Graphite isn't produced in Australia (yet), but the country sits on 1.05 million tonnes of ore reserves, and 7.14 million tonnes of economic demonstrated resources (EDR), as per 2017 government data — and those numbers are way up from the previously disclosed data from Canberra in 2013.

read more Show less

Sydney, Australia – New Energy Minerals Limited is pleased to provide an update to the market in relation to the Company’s activities for the period ending 31 December 2020. Corporate Update New Project Acquisition The Company has previously announced with the closing of the Balama Sale Transaction on 17 July 2020 that it has no further operations in Mozambique and that the closing also represented a disposal of its …

Sydney, Australia (ABN Newswire) – New Energy Minerals Limited (ASX:NXE) (FRA:GGY) (OTCMKTS:MTTGF) is pleased to provide an update to the market in relation to the Company’s activities for the period ending 31 December 2020.

Corporate Update

read more Show less

The mining and resources sector now sets its sights on Australia’s largest mining investment forum, Mines and Money @ IMARC, co-located with IMARC from January 31, 2022, to February 2, 2022, at the Melbourne Showgrounds.

It was gold price, lithium demand and China’s appetite for copper that dominated much of the discussion at Mines and Money Online Connect @ IMARC this week at the virtual event running from the 19th to the 21st October.

Mines and Money Online Connect saw 90 mining companies, 600+ investors and more than 2,000 participants log-on to hear mining executives and analysts discuss the next big thing for savvy investors in 2022.

read more Show less

There are many big Australian gold stocks, but these are the five top companies in the sector by market cap.

Australia is the fourth largest producer of gold worldwide, and this past year has brought ups and downs for the commodity. The precious metal hit its 2021 high point early on and fell soon after.

Lately, gold has been resting at a strong price of around US$1,800 per ounce, and it seems like it will exit the year that way. It may even be in for a serious price hike if inflationary pressures continue on their current trajectory.

Read on to learn more about Australia’s five top gold companies by market cap. All market cap and share price information was obtained on November 25, 2021, using TradingView's stock screener.


1. Newcrest Mining

Market cap: AU$19.54 billion; current share price: AU$24.14

Newcrest Mining (ASX:NCM) operates a portfolio of gold mines across Australia, Canada and Papua New Guinea. These include its New South Wales-based Cadia mine and its Western Australia-based Telfer and Havieron mines.

In November 2021, Newcrest agreed to purchase British Columbia-based Pretium Resources (TSX:PVG,NYSE:PVG) for C$3.5 billion, marking the company’s expansion into Western Canada.

2. Kirkland Lake Gold

Market cap: AU$14.57 billion; current share price: AU$54.99

Kirkland Lake Gold (ASX:KLA) has mining operations in Australia and Canada, both of which are low-risk, gold-rich countries. The company’s Fosterville mine is based in Victoria, Australia, and as of December 31, 2018, its mineral reserves stood at 2.7 million ounces. It produced 640,467 ounces in 2020.

In September 2021, Kirkland Lake Gold and Agnico Eagle Mines (TSX:AEM,NYSE:AEM), a Canadian gold miner, announced a “merger of equals." The new company will go by the name Agnico Eagle Mines, and the companies expect the transaction to close in late 2021 or early 2022.

3. AngloGold Ashanti

Market cap: AU$12.43 billion; current share price: AU$5.83

AngloGold Ashanti (ASX:AGG) is a global gold miner formed in 2004. It has two Australia-based operations, both of which are based in Western Australia’s northeastern goldfields: Sunrise Dam and Tropicana. Sunrise Dam is 100 percent owned, while Tropicana is 70 percent owned, with the remaining 30 percent owned by Regis Resources (ASX:RRL,OTC Pink:RGRNF). In 2020, these operations produced 554,000 ounces of gold.

In Q3 2021, AngloGold Ashanti reported total gold production of 613,000 ounces at a total cash cost of US$927 per ounce. This represents a 5 percent quarter-over-quarter increase in production, though a year-to-date decrease.

4. Northern Star Resources

Market cap: AU$11.39 billion; current share price: AU$9.66

Northern Star Resources (ASX:NST) is an Australian gold-mining company with projects throughout Western Australia and North America at its Kalgoorlie, Yandal and Pogo production centres. In the 2021 fiscal year, Northern Star experienced a 40 percent revenue increase and a 10 percent cash earnings hike.

In late November 2021, Northern Star announced an agreement to buy Newmont Australia’s power business for US$95 million. The company paid US$25 million for the option to purchase this business, an opportunity it was given through its recent 50 percent acquisition of Kalgoorlie Consolidated Gold Mines.

5. Evolution Mining

Market cap: AU$7.53 billion; current share price: AU$4.12

Australian gold miner Evolution Mining (ASX:EVN) has projects throughout New South Wales, Queensland and Western Australia, as well as in Ontario, Canada. Evolution Mining produced 680,788 ounces of gold in the 2021 fiscal year at an all-in sustaining cost of AU$1,215 per ounce.

In 2019, Evolution Mining became one of only two Australian gold companies to be included in the Dow Jones Sustainability Index (INDEXDJX:W1SGI). In 2020 and 2021, the company made several strategic acquisitions and divestments, including its high-value purchases of the Red Lake and the Kundana operations.

This is an updated version of an article originally published by the Investing News Network in 2018.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Isabel Armiento, hold no direct investment interest in any company mentioned in this article.

What are the largest Australian copper companies? These five ASX copper stocks are the biggest on the exchange by market cap.

Last year, pandemic restrictions forced copper mines to shut down across the world, driving down global production and causing the 10 largest copper-mining companies to suffer dramatic losses.

But in 2021, copper hit an all-time high of US$10,700 per tonne, and stayed over US$9,000 for much of the year.

The three top copper-producing countries globally are Chile, Peru and China, with Australia coming in at number six. Still, there are plenty of untapped resources in the land down under, and Australia is making a name for itself as an up-and-coming producer of this important base metal.


Read on to learn more about the top five Australian copper companies on the ASX, ranked by market cap. All market cap and share price information was obtained on November 26, 2021, from TradingView.

1. BHP

Market cap: AU$192.56 billion; current share price: AU$38.03

BHP (ASX:BHP) is a top global producer of copper, nickel, potash, iron ore and metallurgical coal, with copper production centralised at its South Australia-based Olympic Dam mine.

The company, whose headquarters are in Melbourne, Australia, emphasises copper’s function in renewable energy systems and the metal’s critical role in reducing carbon dioxide emissions.

Recently, BHP has focused its attention on its energy assets. In late November, the company merged its oil and gas portfolio with Woodside Petroleum, a deal that was originally struck in August of the same year. On the mineral side of its operations, BHP was looking to acquire Noront Resources (TSXV:NOT,OTC Pink:NOSOF), a Canada-based nickel, copper, chrome and platinum company, but decided not to match a superior offer.

2. OZ Minerals 

Market cap: AU$8.77 billion; current share price: AU$25.70

OZ Minerals (ASX:OZL) is a South Australia-based copper-mining company founded in 2008. Its operations include the Carrapateena project, where construction was completed in 2019, and the upcoming Malu underground mine, which was commissioned in 2015.

In a November press release, OZ Minerals reported a year-to-date 5 percent increase in group ore reserve copper metal tonnes. In its third quarter results, the company reported guidance of between 120,000 and 145,000 tonnes of copper for the year.

3. Sandfire Resources

Market cap: AU$2.59 billion; current share price: AU$6.11

Sandfire Resources (ASX:SFR) owns 7,189 square kilometres in the Bryah Basin region of Western Australia, including its DeGrussa and Monty operations. Both of these are 100 percent owned and produce copper and gold.

The company released its third quarter results in October, reporting total copper production of 15,946 tonnes. Sandfire expects output of between 64,000 and 68,000 tonnes of copper in 2022.

4. 29Metals

Market cap: AU$1.29 billion; current share price: AU$2.63

Australia-based mining company 29Metals (ASX:29M) has the Golden Grove mine in Western Australia and the Capricorn copper mine in Queensland, along with several promising new growth opportunities lined up. 29Metals focuses on copper production, though it also mines for zinc, gold and silver.

According to an October release from the company, production was weaker than expected at Golden Grove during the September quarter. However, the asset's quarter-on-quarter decline of about 10 percent was largely offset by a strong performance at Capricorn.

5. Copper Mountain Mining

Market cap: AU$804.96 million; current share price: AU$3.81

Copper Mountain Mining (ASX:C6C) is a Canadian and Australian copper miner, with its flagship Copper Mountain operation in British Columbia, Canada, and its Eva and Cameron copper projects in Queensland, Australia.

In the third quarter, Copper Mountain Mining reported total output of 22.4 million pounds of copper at its Copper Mountain mine, representing a 12.1 percent quarter-over-quarter decline in production. The company still reported positive cash flow, with strong construction and exploration gains made at its Eva and Cameron projects.

This is an updated version of an article first published by the Investing News Network in 2018.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Isabel Armiento, hold no direct investment interest in any company mentioned in this article.