SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Gold/Mining/EnergyRare Earth Elements and Exotic Metals


Previous 10 Next 10 
To: LoneClone who wrote (15797)4/12/2019 1:07:34 PM
From: LoneClone
   of 17057
 
[REE]

Texas Mineral Resources Consortium Successfully Produces Multiple High-Purity Rare Earth Elements from Pennsylvania Coal Mining Waste Material

globenewswire.com

April 12, 2019 06:00 ET | Source: Texas Mineral Resources Corp

SIERRA BLANCA, TX, April 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Texas Mineral Resources Corp. (OTCQB: TMRC):

· Minerals were produced during Phase One of a $1 million DoE Grant as part of a Two-Phase $23.75 million Funding Opportunity Announcement (FOA- 0001627)

· Phase One project partners include Inventure Renewables, K-Technologies and Penn State University

· Phase One results led TMRC consortium to submit a Phase Two $20 million grant application in accordance with the February 28, 2019 deadline

· DoE Phase One award is TMRC’s second U.S. Government grant, following successful 2016 DLA demonstration

Texas Mineral Resources Corp. (TMRC), an exploration company targeting the heavy rare earths and a variety of other high-value elements and industrial minerals, is pleased to announce that a consortium assembled by Texas Mineral Resources successfully demonstrated the ability to produce multiple high-purity and separated rare earth minerals from Pennsylvania coal mining waste material. Minerals were purified to a 99.0% level, made available for Meeting participant inspection, and included scandium (Sc), dysprosium (Dy), neodymium (Nd), cerium (Ce) and lanthanum (La).

Phase One results were reported at the Department of Energy’s 2019 Annual Project Review Meeting for Crosscutting Research, Rare Earth Elements, Gasification Systems and Transformative Power Generation on April 9th, 2019 in Pittsburgh, PA. A copy of the consortium DoE presentation may be found by clicking here.

The Texas Mineral Resources consortium objective is to ultimately install a self-contained, modular and portable continuous ion exchange/continuous ion chromatography (CIX/CIC) pilot plant at a selected Pennsylvania site, and to determine the economic viability of profitably producing rare earth minerals as well as saleable industrial mineral byproducts recovered from coal waste material from Pennsylvania anthracite coal.

“We are pleased to share the accomplishments of our consortium with both the Department of Energy and our shareholders,” said Anthony Marchese, TMRC chairman. “Our consortium has applied for a Department of Energy Phase Two $20 million grant whose purpose would be to demonstrate the ability to scale up our production of material with the creation of a pilot plant. We strongly believe in the potential to profitably produce rare earth minerals as well as saleable industrial mineral byproducts from Pennsylvania anthracite coal waste. Creating value from waste is an environmental goal shared by all citizens, especially when considering the strategic nature of the minerals proposed to be produced. We are fully committed to work with local companies, capital sources and public officials in order to create potentially meaningful economic opportunity for an industry and region that for too long has been in a period of decline. DoE Secretary Rick Perry, who visited the consortium’s Pennsylvania project site in September 2017, has committed to aiding the coal industry and at TMRC we are doing our part in an effort which potentially creates a win-win for shareholders, the region and the United States.”

TMRC’s Second Successful U.S. Government Grant

This is the second U.S. Government award relating to the production of rare earth minerals in which Texas Mineral Resources has recently participated. In September 2015, the U.S. Department of Defense, through the Defense Logistics Agency (DLA), awarded the Company a Broad Agency Announcement (BAA) research contract. In July 2016 TMRC announced it had successfully completed a demonstration-of-concept project to separate and refine specific high-purity rare earth elements for the United States Defense Logistics Agency (DLA) Strategic Materials Division in conjunction with its joint venture partner K-Technologies, Inc. (K-Tech). In the bench scale demonstration, Texas Mineral Resources Corp. and K-Tech successfully separated specified high-value rare earths to between 99.996 and 99.999% purity, using static column systems designed to provide the general design concepts for ultimate use of continuous ion exchange (CIX) and continuous ion chromatography (CIC) systems at larger scales.

About Texas Mineral Resources Corp.

Texas Mineral Resources Corp.'s focus is exploring and, if warranted, developing its Round Top heavy rare earth and industrial minerals project located in Hudspeth County, Texas, 85 miles east of El Paso. Additionally, the Company plans on developing alternative sources of strategic minerals through the processing of coal waste and other related materials. The Company’s common stock trades on the OTCQB U.S. tier under the symbol “TMRC.”

Company Contact:  Texas Mineral Resources Corp. Anthony Marchese, Chairman E-mail: amarchese@tmrcorp.com


Related Articles
More articles issued by Texas Mineral Resources Corp More articles related to: Press releases

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (15798)4/12/2019 1:48:38 PM
From: LoneClone
   of 17057
 
Orocobre Limited – Naraha Lithium Hydroxide Plant Approved

ca.finance.yahoo.com

GlobeNewswireApril 11, 2019

BRISBANE, Australia, April 11, 2019 (GLOBE NEWSWIRE) -- Orocobre Limited (ASX: ORE, TSX: ORL) (“Orocobre” or “the Company”) is pleased to advise that Orocobre, Toyota Tsusho Corporation (TTC) and Joint Venture (JV) boards have approved the Final Investment Decision (FID) for the Naraha Lithium Hydroxide Plant to be built in Japan. Orocobre will hold a 75% economic interest in the project with operations to be managed by TTC.

Negotiations on the Engineering - Procurement - Construction (EPC) contract between TTC and Veolia (the EPC contractor) have now been finalised. Construction of the Naraha Lithium Hydroxide Plant is expected to commence during H1 CY19 with commissioning to commence during H1 CY21. The Naraha Joint Venture will be overseen by a Joint Technical Committee during construction and commissioning. The Joint Technical Committee will comprise both TTC and Orocobre representatives.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="Feedstock for the Naraha Lithium Hydroxide Plant will be sourced from the Olaroz Lithium Facility’s Stage 2 Expansion that will produce primary grade (>99.0% Li2CO3) lithium carbonate. Approximately 9,500 tonnes per annum (tpa) primary grade lithium carbonate will be used to produce 10,000 tpa battery grade lithium hydroxide at the Naraha Lithium Hydroxide Plant." data-reactid="13">Feedstock for the Naraha Lithium Hydroxide Plant will be sourced from the Olaroz Lithium Facility’s Stage 2 Expansion that will produce primary grade (>99.0% Li2CO3) lithium carbonate. Approximately 9,500 tonnes per annum (tpa) primary grade lithium carbonate will be used to produce 10,000 tpa battery grade lithium hydroxide at the Naraha Lithium Hydroxide Plant.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="Total capital costs are expected to be approximately JPY8.6 billion (US$77.6 million1, excluding VAT) following detailed engineering studies, the inclusion of a calciner to recycle lime used in processing and significant automation of the process. The Joint Venture Company will be entitled to a Japanese government subsidy of JPY3 billion (US$27.1 million1) which will reduce net capital costs to JPY5.6 billion (US$50.5 million1, excluding VAT). Operating costs (excluding primary grade lithium carbonate feedstock) for the Naraha Lithium Hydroxide Plant are estimated to be approximately US$1,500/tonne." data-reactid="14">Total capital costs are expected to be approximately JPY8.6 billion (US$77.6 million1, excluding VAT) following detailed engineering studies, the inclusion of a calciner to recycle lime used in processing and significant automation of the process. The Joint Venture Company will be entitled to a Japanese government subsidy of JPY3 billion (US$27.1 million1) which will reduce net capital costs to JPY5.6 billion (US$50.5 million1, excluding VAT). Operating costs (excluding primary grade lithium carbonate feedstock) for the Naraha Lithium Hydroxide Plant are estimated to be approximately US$1,500/tonne.

Orocobre Managing Director and CEO Mr. Martín Pérez de Solay commented, “We are excited to announce the approval of the Naraha project. The construction of the Naraha Lithium Hydroxide Plant will further cement Orocobre’s position as a global lithium chemicals producer operating at the bottom quartile of the lithium cost curve. This new hydroxide plant will be the first of its kind in Japan and provides Orocobre product diversification suitable for different battery technologies and the potential for significant margin growth on our primary lithium carbonate being converted to battery grade lithium hydroxide.”

Takeo Fujihara, TTC General Manager of the Resource Development Department commented, “TTC is pleased to conclude the EPC contract negotiations. We are confident Veolia will deliver an outstanding project. We now look forward to seeing construction begin in the next few months.”

Sales of lithium hydroxide will be managed by TTC as exclusive sales agent under a similar joint marketing arrangement to that operating for lithium carbonate from the Olaroz Lithium Facility. The majority of production is expected to be delivered to the Japanese battery industry. A cathode manufacturing plant is already in operation in the immediate vicinity and plans have been announced to develop a battery manufacturing facility nearby.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="Financing

The Naraha Lithium Hydroxide Plant will be funded through a combination of JPY9.1 billion (US$82.1 million1) of term/bridging loans and JPY1.0 billion (US$9.0 million1) of shareholder equity. Orocobre will contribute JPY750 million (US$6.8 million1) equity and TTC will contribute JPY250 million (US$2.3 million1)." data-reactid="18">Financing

The Naraha Lithium Hydroxide Plant will be funded through a combination of JPY9.1 billion (US$82.1 million1) of term/bridging loans and JPY1.0 billion (US$9.0 million1) of shareholder equity. Orocobre will contribute JPY750 million (US$6.8 million1) equity and TTC will contribute JPY250 million (US$2.3 million1).

Two project loans have been provided by Japanese banks at effective interest rates of <1%. All of the financing is non-recourse to Orocobre.

Term Loan JPY6.1 billion US$55.0 million1
Subsidy Bridge Loan JPY3.0 billion US$27.1 million1
Equity JPY1.0 billion US$9.0 million1
Total JPY10.1 billion US$91.1 million1

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="
In addition, a JPY0.8 billion (US$7.2 million1) VAT Bridging Loan has been established to cover the period between VAT payment and VAT refunds on project expenditure." data-reactid="22">
In addition, a JPY0.8 billion (US$7.2 million1) VAT Bridging Loan has been established to cover the period between VAT payment and VAT refunds on project expenditure.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="The subsidy of approximately JPY3.0 billion (US$27.1 million1) from the Japanese government is expected to be received in H1 CY21 once the project reaches mechanical completion." data-reactid="23">The subsidy of approximately JPY3.0 billion (US$27.1 million1) from the Japanese government is expected to be received in H1 CY21 once the project reaches mechanical completion.

The Term Loan will be repaid from operating cash flow with a maximum term of seven years. The Subsidy Bridge Loan will be repaid upon receipt of Subsidy payments and the VAT Bridge Loan will be repaid from VAT refunds.

At 31 December 2018, Orocobre had US$284 million of cash available for funding equity contributions to the Naraha Lithium Hydroxide Plant, Olaroz Stage 2 Expansion and other growth projects.

For more information please contact:

Andrew Barber
Investor Relations Manager
Orocobre Limited
T: +61 7 3871 3985
M: +61 418 783 701
E: abarber@orocobre.com
W: www.orocobre.com.au

https://twitter.com/OrocobreLimited
https://www.linkedin.com/company/orocobre-limited
https://www.facebook.com/OrocobreLimited/
https://www.instagram.com/orocobre/
https://www.youtube.com/channel/UCuLtQ_xM61u8EFUzUa8YG_Q

Click here to subscribe to the Orocobre e-Newsletter

About Orocobre Limited
Orocobre Limited (Orocobre) is a dynamic global lithium carbonate supplier and an established producer of boron. Orocobre is dual listed on the Australia and Toronto Stock Exchanges (ASX:ORE), ( ORL.TO). Orocobre’s operations include its Olaroz Lithium Facility in Northern Argentina, Borax Argentina, an established Argentine boron minerals and refined chemicals producer and a 33.5% interest in Advantage Lithium. For further information, please visit www.orocobre.com.

_______

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="1 The EPC contract and all financing is denominated in Japanese Yen and has been converted at a JPYUSD exchange rate of 110.9" data-reactid="36">1 The EPC contract and all financing is denominated in Japanese Yen and has been converted at a JPYUSD exchange rate of 110.9

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (15799)4/12/2019 2:08:40 PM
From: LoneClone
   of 17057
 
International Lithium Updates on Raleigh and Mariana Projects

ca.finance.yahoo.com

NewsfileApril 12, 2019

Vancouver, British Columbia--(Newsfile Corp. - April 12, 2019) - International Lithium Corp. (TSXV: ILC) (the "Company" or "ILC") announces that it has decided to prioritize exploration on in its 100%-owned Raleigh Lake project in Ontario, Canada in the first half of 2019. Based on this decision, the Board of the Company has decided not to contribute to the funding of operations on the Company's interest in the Mariana project in Argentina in the first half of 2019.

As a result of cash calls made up to the present date, the Company's share in Mariana will reduce from 17.246% to 15.392% by the end of April 2019. A budget of US$ 4.25 million has been set by the manager for May and June 2019. If expenditure indeed reaches that level, the Company's share in Mariana would reduce further to 13.607%. The Company retains a back-in right entitling it to increase this percentage by a further 10%, i.e. to 23.607%.

Commenting on this decision, John Wisbey, CEO said, "One of the most important decisions a Board has to make is about the allocation of capital, and at this point we feel that if we are successful in proving the scale of the Raleigh Lake deposit, the investment in that project is likely to bring a bigger gain to shareholder value than investment in any of our other projects. We continue to have confidence in the Mariana project following a successful preliminary economic assessment (PEA) in December 2018, and we will be liaising closely with our partner, Ganfeng Lithium, on its plans for Mariana over the next few months."

About International Lithium Corp.

International Lithium Corp. has a significant portfolio of projects, strong management, and a strategic partner and key investor, Jiangxi Ganfeng Lithium Co. Ltd., ("Ganfeng Lithium") a leading China-based lithium product manufacturer.

The Company's primary strategic focus is now on and on the Raleigh Lake project in Canada and the Mariana project in Argentina.

The Raleigh Lake project, consisting of 3,027 hectares of adjoining mineral claims in Ontario, is now regarded by ILC management as ILC's most significant project in Canada. It is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.

The Company has a strategic stake in the Mariana lithium-potash brine project located within the renowned South American "Lithium Belt" that is the host to the vast majority of global lithium resources, reserves and production. The Mariana project strategically encompasses an entire mineral rich evaporite basin, totalling 160 square kilometres that ranks as one of the more prospective salars or 'salt lakes' in the region. Current ownership of the project is through a joint venture company, Litio Minera Argentina S. A., a private company registered in Argentina, which will shortly be owned 84.608% by Ganfeng Lithium and 15.392% by ILC. In addition, ILC has an option to acquire 10% in the Mariana project through a back-in right.

Complementing the Company's lithium brine project at Mariana and rare metal pegmatite property at Raleigh Lake, are interests in two other rare metal pegmatite properties in Ontario, Canada known as the Mavis Lake and Forgan Lake projects, and the Avalonia project in Ireland, which encompasses an extensive 50-km-long pegmatite belt.

The ownership of the Mavis Lake project is now 51% Pioneer Resources Limited ("Pioneer") and 49% ILC. In addition, ILC owns a 1.5% NSR on Mavis Lake. Pioneer has an option to earn an additional 29% by sole-funding a further CAD $8.5 million expenditures of exploration activities, at which time the ownership will be 80% Pioneer and 20% ILC.

The Forgan Lake project will, upon Ultra Lithium meeting its contractual requirements pursuant to its agreement with ILC, become 100% owned by Ultra Lithium and ILC will retain a 1.5% NSR on Forgan Lake/Georgia Lake.

The ownership of the Avalonia project is currently 55% Ganfeng Lithium and 45% ILC. Ganfeng Lithium has an option to earn an additional 24% by either incurring CAD $10 million expenditures on exploration activities or delivering a positive feasibility study on the project, at which time the ownership will be 79% Ganfeng Lithium and 21% ILC.

With the increasing demand for high tech rechargeable batteries used in electric vehicles and electrical storage as well as portable electronics, lithium has been designated "the new oil", and is a key part of a "green tech", sustainable economy. By positioning itself with solid strategic partners and projects with significant resource potential, ILC aims to be one of the lithium and battery metals resource developers of choice for investors and to continue to build value for its shareholders.

International Lithium Corp.'s mission is to find, explore and develop projects that have the potential to become world class lithium, and rare metal deposits. A key goal is to become a well funded company to turn that aspiration into reality.

On behalf of the Company,

John Wisbey
Chief Executive Officer

www.internationallithium.com

For further information concerning this news release please contact +1 604-449-6520

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the effect of results of the preliminary economic assessment of the Mariana Joint Venture Project, timing of publication of the PEA technical report, anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Mavis Lake projects, the expectation of feasibility studies, lithium recoveries, modeling of capital and operating costs, results of studies utilizing membrane technology at the Mariana Project, budgeted expenditures and planned exploration work on the Avalonia Joint Venture, satisfactory completion of the sale of mineral rights at Forgan Lake, satisfactory completion of the purchase of additional mineral rights at Raleigh Lake, increased value of shareholder investments, and continued agreement between the Company and Jiangxi Ganfeng Lithium Co. Ltd. regarding the Company's percentage interest in the Mariana project. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

To view the source version of this press release, please visit newsfilecorp.com


Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (15800)4/12/2019 2:10:24 PM
From: LoneClone
   of 17057
 
First Cobalt targets Canada plant restart within two years: CEO

ca.finance.yahoo.com

ReutersApril 10, 2019

SHANGHAI (Reuters) - First Cobalt Corp aims to restart an idled cobalt refinery in Canada within two years and is in talks to supply the battery-grade product to four leading automakers, chief executive Trent Mell said on Wednesday.

The Toronto-based company is planning a $30 million revamp of the plant, located in the appropriately named town of Cobalt, Ontario, which has been shut down since 2015.

The restart would provide U.S. end-users of cobalt, a key ingredient in rechargeable batteries for electric vehicles (EVs), with a refining base nearer to home than China, where most of the world's cobalt refining capacity is located.

"If we can short-circuit the logistics, it provides a ready source of sulphate for the U.S. supply chain," Mell told Reuters in an interview in Shanghai.

The refinery was commissioned in 1996, when it ran on locally sourced cobalt and produced cobalt carbonate used in animal feed -- long before the EV revolution took hold.

First Cobalt, which plans to produce cobalt sulphate from the plant, has already carried out a test using cobalt hydroxide from the Democratic Republic of Congo, where most of the world's mined cobalt supply comes from, as feedstock.

"The results that came out last week are indeed that it works," said Mell, who is targeting just over 2,000 tonnes of cobalt sulphate per year, or enough to supply one EV maker.

The four automakers in talks with the company are "big global players" who make cars in the United States, he said without disclosing their identities.

"A couple of them are already producing EVs and a couple of them are not yet there" but looking to the future, he added.

Cobalt prices are currently around $33,000 a tonne, barely one-third of the peak of over $95,000 a tonne hit in March 2018.

"It's not always easy to have all your material delivered to the big Chinese refiners when the price is coming down," Mell said, noting that U.S. imports of cobalt from China are currently subject to a 10 percent import tariff.

Mell is giving himself six months to select a cobalt hydroxide feedstock, after which he said there will be an 18 to 24-month process before the restart.

"Six months to me is a long time, " he said. "If we can compress that, I'd love to think we'll be in production in two years."

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (15801)4/12/2019 2:12:03 PM
From: LoneClone
   of 17057
 
The LME's New Cobalt Contract: A History of Cobalt on the London Metal Exchange

accesswire.com

Wednesday, April 10, 2019 9:00 AM


TORONTO, ON / ACCESSWIRE / April 10, 2019 / Anthony Milewski, Chairman and CEO, Cobalt 27 Capital Corp. (TSX-V: KBLT) (OTCQX: CBLLF) (FRA: 270), met with the London Metal Exchange's Product Development department to discuss their electric vehicle battery materials initiatives. The London Metal Exchange (LME) is the world centre for industrial metals trading. With the launch of its new cobalt contract, we reached out the LME with some questions that we felt investors and Cobalt 27 shareholders would find interesting.

What is the London Metal Exchange and what does it offer as a platform?

The London Metal Exchange (LME) is the world centre for industrial metals trading. The prices discovered across the LME's three trading platforms - the Ring, the inter-office 'telephone' market and LMEselect, our electronic trading platform - are used as the global reference price and, both the metal and investment communities use the LME to transfer or take on risk, 24 hours a day.

The LME has had a cobalt contract since 2010. Why is the Exchange launching a new cobalt contract now?

The LME launched its physically-settled LME Cobalt contract in 2010, which has been a steady performer amongst a core group of supporters for a physically settled contract. That said, the LME has also seen growing appetite for a cash-settled contract over recent years with the rise in demand for Electric Vehicles (EVs) and battery metals. Last year, we consulted the market in order to identify the best risk management solutions. Following extensive engagement with the market, on 11 March 2019, we launched a cash-settled LME Cobalt (Fastmarkets MB) contract, to complement our existing physically-settled offering. This new cash-settled contract is settled against the Fastmarkets MB Standard Grade index, allowing market participants who have exposure to the aforementioned price in their physical contracts, to hedge across the cobalt value chain with no basis risk.

What are the differences between the new cash-settled LME Cobalt (Fastmarkets MB) contract and the existing physically-settled LME Cobalt contract?

There are several differences between the two contracts, but the most relevant are the settlement structure, settlement price and prompt date structure.

Designed to mirror physical trading, daily prompts enable users of the physically-settled LME Cobalt contract to accurately hedge their physical transactions down to the day.

The LME Cobalt (Fastmarkets MB) contract settles on the last business day of each month in accordance with the LME trading calendar, out to 15 months, to the price of the Fastmarkets MB Index. In contrast, the physically-settled LME Cobalt contract offers daily prompt dates out to three months, weekly prompt dates between three and six months, and monthly prompt dates from the sixth month onward out to 15 months.

Cash settlement is a method used in certain futures and options contracts where, upon expiration or exercise, the seller of the financial instrument does not deliver the actual physical underlying asset but instead transfers the associated cash position. For sellers who do not wish to take actual possession of the underlying cash commodity, cash settlement is a more convenient method of transacting futures and options contracts. Cash settlement is also preferred by financial investors who bring additional liquidity reducing the bid-offer spread, and thus lowering the cost of trading.

And what about the physical delivered contract? What will happen to that now?

The LME recognises the ongoing market support for its physically-settled cobalt contract which has seen a steady uptake in recent months, with an increase in both trading volumes and stocks, and as such it will continue to offer a physically-settled option alongside the new cash-settled LME Cobalt (Fastmarkets MB) contract.

Physical settlement enables short position holders to deliver warrants - a warehouse warrant for the storage of metal, issued by a LME-listed warehouse and in a form approved by the Exchange - against their positions, whilst long position holders will receive warrants, and ultimately, take physical delivery of the metal or close out their position.

Physical settlement is preferred by a number of market participants such as cobalt producers who prefer the option of physical delivery, and the steady growth of the battery metals market in recent years has opened up the cobalt market to a number of new market participants wanting to gain exposure to the cobalt price and have the tools available to manage their price risk. In recent months we have heard of a number of cobalt producers who are interested in listing their brands on the LME and as part of our ongoing commitment to lowering barriers to market entry and serving the physical market, the LME has recently waived all brand listing fees for cobalt producers wanting to enter the market and list their brands on the LME. This waiver will last for 6 months, until October 2019, and any producers interested in listing on the LME should reach out to the team who will be happy to discuss this in more detail.

Who is the new cash-settled contract for?

Over the past few years, we have seen extreme volatility in the cobalt market which has a knock-on effect on the entire value chain, causing operational concerns - increasing financing costs, increasing counterparty risk and, ultimately, increasing the price of goods for consumers.

Furthermore, the significant growth in EVs in recent years has bought new players to the metals market, with considerable capital to invest in this space. Up until now, these new market participants have struggled to manage their exposure to the cobalt price, especially along the forward curve, as they have not had the tools available to them. The new cash-settled LME Cobalt (Fastmarkets MB) contract provides exposure to the Fastmarkets MB Cobalt Standard Grade price, helping market participants to manage risk along the entire cobalt value chain. A few examples of market participants who can benefit from these hedging tools include:

  • Miners, traders and hydroxide producers, as well as traditional consumers like the super alloy industry, whose procurement contracts are linked to the Fastmarkets MB Cobalt Standard Grade index
  • Cobalt sulphate producers and consumers whose procurement contracts are linked to the Fastmarkets MB Standard Grade price, including the EVs and Lithium-ION batteries industry
As liquidity grows, we expect a number of financial participants including funds and money managers to take an interest in the contract.

The LME Cobalt (Fastmarkets MB) contract will be available to trade 24 hours a day across the LME's telephone market and from 01:00-19:00 London time on LMEselect, the LME's electronic market.

What liquidity can we expect?

Building liquidity is always the biggest challenge for new exchange-traded products generally, and especially for small markets like cobalt, but we expect liquidity to grow progressively as our members deploy the infrastructure upgrades that allow them to access this market.

As observed in similar markets, we expect to see the majority of initial liquidity on the telephone market. However, over time we hope to see an increase in the amount of physical players benefiting from the contract and contributing towards an increase in on-screen liquidity and deep order book - providing the transparency and exposure that market participants require.

We have also introduced a new membership category of Registered Intermediating Brokers (RIBs). These are brokers who facilitate trades between two parties - either LME members or clients - helping to grow liquidity in smaller niche markets such as the cobalt market. We have seen in the past how RIBs have greatly supported the initial liquidity in other new markets such as LME Steel Scrap and LME Steel Rebar, playing an integral role in helping these markets to grow.

For more information about the LME's cobalt offering, please contact one of the team at product.development@lme.com

I welcome shareholders to get in touch with any comments.

Anthony Milewski,

Chairman and CEO

Cobalt 27 Capital Corp.

About Cobalt 27 Capital Corp.
Cobalt 27 Capital Corp. is a leading battery metals streaming company offering exposure to metals integral to key technologies of the electric vehicle and energy storage markets. The Company owns physical cobalt and a 32.6% Cobalt Stream on Vale's world-class Voisey's Bay mine,? beginning in 2021. Cobalt 27 is undertaking a friendly acquisition of Highlands Pacific which is expected to add increased attributable nickel and cobalt production from the long-life, world-class Ramu Mine. The Company also manages a portfolio of 11 royalties and intends to continue to invest in a cobalt and nickel focused portfolio of streams, royalties and direct interests in mineral properties containing battery metals.

For further information please visit the Company website at www.cobalt27.com

Forward-Looking Information: This interview may contain certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Forward-looking statements address future events and conditions which involve inherent risks and uncertainties. Actual results could differ materially from those expressed or implied by them. Examples of forward looking information and assumptions include future estimates of the worldwide supply and demand for cobalt and other metals and the effect that these changes could have on the short term and long term price of cobalt and other metals on the world markets, statements regarding the future operating or financial performance of Cobalt 27 including the net present value, metal recoveries, capital costs, operating costs, production, rates of return and payback. Forward looking statements involve known and unknown risks and uncertainties which may not prove to be accurate. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in Cobalt 27 Capital Corp.'s reports filed with Canadian securities regulators on SEDAR at www.sedar.com.

In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "projects", "plans", "anticipates" and similar expressions. These statements represent management's expectations or beliefs concerning, among other things, future operations and various components thereof affecting the economic performance of Cobalt 27. Undue reliance should not be placed on these forward-looking statements which are based upon management's assumptions and are subject to known and unknown risks and uncertainties, including the business risks discussed above, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted.

Links: Some of the posted entries on in this interview may include links to 3rd party websites. Cobalt 27 has not reviewed all websites linked to or from this Site and is not responsible for the contents of any such websites. The inclusion of any link does not imply endorsement by Cobalt 27 of the linked website or its content. Use of any such linked website is at the user's own risk.

SOURCE: Junior Mining Network

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (15802)4/12/2019 2:17:39 PM
From: LoneClone
   of 17057
 
[Vanadium] Largo Resources Announces First Quarter 2019 Production Results

newswire.ca

Largo Resources Ltd. Apr 11, 2019, 17:02 ET

  • Q1 2019 V2O5 production of 2,099 tonnes, a 5% decrease from Q1 2018
  • Kiln refractory replacement completed ahead of schedule
  • Global V2O5 recovery rate of 80.0% achieved in Q1 2019, a 5% increase over Q1 2018
  • Q1 2019 financial results conference call: Wednesday, May 15th, 2019 at 12:00 p.m. EST
TORONTO, April 11, 2019 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) announces first quarter 2019 production results from its Maracás Menchen Mine with 2,099 tonnes of vanadium pentoxide ("V2O5") produced at an average global recovery ratei of 80.0%. The Company is also pleased to announce that the scheduled kiln refractory replacement has been completed and regular production has resumed.

Total production in Q1 2019 from the Maracás Menchen Mine of 2,099 tonnes of V2O5 was 5% below Q1 2018 results. Production of 816 tonnes of V2O5 in January and 735 tonnes of V2O5 in February were both impacted by maintenance in the fusion section of the plant and unanticipated power outages, which mostly occurred in February. Production in March of 548 tonnes of V2O5 was, as anticipated, significantly impacted by the scheduled kiln refractory replacement which resulted in 11 days of production down time, being 2 days less than the expected 13 days previously reported. A complete replacement of the kiln refractory occurs every two years as a consequence of the high temperatures utilized inside the kiln, which weakens the kiln's durability over time and causes stability issues with recoveries. Largo expects that the replacement of the kiln refractory will help to minimize the need for minor repairs that were performed to the kiln throughout 2018.

Global V2O5 recovery ratesi averaged 80.0% during the quarter representing an increase of 5% over Q1 2018. This is primarily attributable to improved recoveries in the leaching and precipitation sections of the plant during January and February.

A summary of Q1 2019 production results from the Maracás Menchen Mine is presented below:




Maracás Menchen Mine Production

Q1 2019

Q1 2018




Global recoveryi (%)

80.0%

75.9%

Concentrate produced (tonnes)

86,673

77,222

Grade of concentrate (% V2O5)

3.32%

3.56%

Contained V2O5 (tonnes)

2,874

2,747

V2O5 flake produced (flake + powder) (tonnes)

2,099

2,214

V2O5 produced (equivalent pounds)ii

4,627,497

4,881,029




Mark Smith, Chief Executive Officer of Largo, stated: "Production at the Maracás Menchen Mine was impacted during the quarter by the Company's scheduled replacement of the kiln refractory in addition to unanticipated power outages and corrective maintenance to the fusion section of the plant. I am pleased to report that the kiln refractory replacement has been completed and our operations team was able to minimize the impact on production during the month to 11 days versus the 13 days previously reported. Operations have since resumed and the Company expects to return to a normalized production level in the next quarter."

Conference Call

Largo Resources' management will host a conference call on Wednesday, May 15, 2019, at 12:00 p.m. EST, to discuss first quarter 2019 operational and financial results.

Conference Call Details:





Date:

Wednesday, May 15, 2019

Time:

12:00 p.m. EST

Dial-in Number:

Local / International: +1 (416) 764-8688


North American Toll Free: (888) 390-0546


Brazil Toll Free: 08007621359

Conference ID:

63330688

Replay Number:

Local / International: + 1 (416) 764-8677


North American Toll Free: (888) 390-0541


Replay Passcode: 496092#

Website:

To view press releases or any additional financial information, please visit our Investor Relations section of the Largo Resources website at: www.largoresources.com/investors




A playback recording will be available on the Company's website for a period of 60-days following the conference call.

About Largo Resources

Largo is a Toronto-based strategic mineral company focused on the production of vanadium flake, high purity vanadium flake and high purity vanadium powder at the Maracás Menchen Mine located in Bahia State, Brazil. The Company's common shares are principally listed on the Toronto Stock Exchange under the symbol "LGO". For more information on Largo, please visit our website at www.largoresources.com.

Neither the Toronto Stock Exchange (nor its regulatory service provider) accepts responsibility for the adequacy or accuracy of this press release.

Forward-looking Information:

This press release contains forward-looking information under Canadian securities legislation, some of which may be considered "financial outlook" for the purposes of application Canadian securities legislation ("forward-looking statements"). Forward-looking information in this press release includes, but is not limited to, statements with respect to timing for and completion of the Maracás Menchen Mine expansion project and the costs associated therewith; the duration of the planned kiln shutdown; the timing and amount of estimated future production; costs of future activities and operations; and the extent of capital and operating. Forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Largo to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on SEDAR from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&As which also apply.




__________________________________

i

Global recovery is the product of crushing recovery, milling recovery, kiln recovery, leaching recovery and chemical plant recovery.

ii

Conversion of tonnes to pounds, 1 tonne = 2,204.62 pounds or lbs.




SOURCE Largo Resources Ltd.

For further information: Alex Guthrie, Manager, Investor Relations and Communications, aguthrie@largoresources.com, Tel: +1 416-861-9797

Related Links largoresources.com

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (15803)4/15/2019 11:04:13 AM
From: LoneClone
   of 17057
 
Lithium Giant SQM Predicts Higher Sales as Expansion Plans Pay Off

SQM sees strong demand from main clients in Korea and Japan
Expansion in Chile progressing better than initially expected


bloomberg.com

Laura Millan Lombrana

April 12, 2019, 5:08 AM PDT Updated on April 12, 2019, 7:03 AM PDT

In this article


MS
MORGAN STANLEY
46.00
USD
-0.69-1.48%

Two months after disappointing the market with its annual results, the world’s second-largest lithium miner said an expansion is faring better than expected and sales probably will beat its forecasts for this year.

Santiago-based Soc. Quimica y Minera de Chile SA will exceed its sales target of just under 50,000 tons of lithium as output ramps up at its operations in the Atacama salt flat, according to the company’s commercial vice president of lithium and iodine Felipe Smith.

"We are ready to offer more product to the market," Smith said in an interview in Santiago on Thursday. "We have a better than expected position in production and inventories after we reached more stable production following the expansion."

SQM, whose operation sits on top of the world’s largest lithium reserve, almost doubled its production capacity in 2018 to 70,000 tons per year to respond to booming demand for the mineral essential to power the rechargeable batteries used in electric vehicles. Yet, the company’s shares posted the biggest decline in more than a year in February after reporting disappointing results and projecting lower-than-expected sales volumes. That is now changing again.



"Every ramp up has a lot of hiccups and adjustments we need to do," Smith said. "We feel now we are in a better position to start looking for additional volume in terms of sales and this is our goal -- we hope to exceed the initial sales plan."

Still, Morgan Stanley cut its 2019 price target on SQM to $35 per share from $44, analysts led by Javier Martinez de Olcoz wrote in a research note Friday. They became more bearish on the company after a trip to Chile in which they met with local authorities and the new Chief Executive Officer Ricardo Ramos.

SQM shares on the Santiago stock exchange fell as much as 2 percent Friday to the lowest since July 2017.

Market Boom Ramos said two months ago that production would be just over 60,000 tons of lithium this year, but that sales would remain under 50,000 tons as the miner looked to build its inventories and gain flexibility given uncertainty in the market.

Lithium producers have so far struggled to respond to a trend that’s expected to result on the market growing from about 300,000 tons to 1 million tons by 2025.

Demand from SQM’s main clients in South Korea and Japan remains healthy, Smith said. Still, a reduction of Chinese government subsidies to electric vehicle manufacturers could impact demand from the Asian nation. "Perhaps the impact will remain for some months, but the demand is still there."

SQM, which has typically sold its product in short term contracts and at a high price in the market, will be more aligned with competitors this year, Smith said. While spot lithium prices in China plummeted in 2018, the variation in price has been less dramatic for the mineral sold elsewhere.

Lithium carbonate produced in South America was flat at $13,000 per ton from the previous month in March, after reaching a historic high of $15,750 per ton in May last year, according to a monthly report by Benchmark Mineral Intelligence.

"Last year we managed to sell at a better price compared to our competitors and this year we are going to reach more or less the same levels as our competitors," Smith said. "Where price is going now will depend on how much supply really enters the market."

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (15804)4/15/2019 11:10:56 AM
From: LoneClone
   of 17057
 
Antimony: Proposed tightening of EU regulations still major concern during MMTA conference

roskill.com

Posted on 15th April 2019 in General News.

The MMTA International Minor Metals Conference 2019 was held last week in Edinburgh, during which, one of the main topics under discussion by delegates was the ongoing classification of antimony trioxide and proposed restrictions on use by the EU’s REACH regulation. A decision has yet to be made if antimony trioxide will see restrictions resulting in a reduction in use or a more widespread ban.

Hans Vercammen, Chairman of The International Antimony Association (i2a) and Speciality Chemicals Division Manager at Campine, presented at the conference and spoke about industry concerns during the breakout session on the impact of regulatory environments. The antimony industry is keen to highlight the use of antimony trioxide in the potential life-saving application of flame retardants, as well as its uses in lead acid batteries and other commercial and industrial sectors. The i2a is currently undertaking a number of studies to ascertain the scale of the antimony industry and its contribution to European economies, including a comprehensive socio-economic study being carried out by Roskill.

Roskill analysts Jessica Roberts and Suzanne Shaw spoke to a number of delegates at the conference who expressed concerns over the challenges which might be imposed by REACH on producers, as well as possible rising costs for consumers. Meanwhile, a meeting later this month to provide an update on REACH’s evaluation of antimony trioxide is said to have been delayed.

Roskill view: Ultimately, regulation both creates demand for antimony and has the potential to limit it. Fire safety standards encourage the widespread use of flame retardants and almost all use of fire retardant compounds is in response to legislation or industry norms.

In total, 85kt of antimony was consumed in flame retardants in 2018 with Asia being the largest consuming region, followed by Europe and North America. Thus, over 80% of non-metallurgical antimony consumption was in flame retardants. Antimony oxides are used widely as synergists to enhance the flame retardancy of halogenated compounds and flame-retardants are by far the largest end-use market.

There is inherent uncertainty in the shape of demand over the outlook period due to its dependency on the results of future regulatory activity. Roskill anticipates that ongoing regulatory evaluations in Europe and North America, such as those concerning antimony compounds under REACH in the EU, may put pressure on manufacturers to consider substitutions, but that any decisions made will take several years to finalise and will probably not be felt acutely until around 2022. The rate of replacement of antimony-halogenated systems will also be moderated by the fact that they remain the most efficient flame retardant solutions in many applications and by the need for the development and assessment of alternatives.

To discuss the antimony market with Roskill, contact Jack Bedder: jack@roskill.com or Nils Backeberg: nils@roskill.com

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (15805)4/15/2019 11:12:03 AM
From: LoneClone
   of 17057
 
Tungsten: King Island Scheelite secures offtake with Austria’s WBH

roskill.com

Posted on 15th April 2019 in General News.

Australian-headquartered King Island Scheelite (KIS), which is developing the brownfield Dolphin tungsten mine project on King Island off the coast of Victoria, has signed an offtake agreement with Austrian company Wolfram Bergbau und Huetten, a leading producer of refined tungsten.

The offtake agreement is for 1.4kt of concentrate on a 100% WO3 basis (1.1kt contained W) over a four-year period, representing around 20% of planned annual production, and indexed to the Fastmarkets MB price for ammonium paratungstate (APT).

The take or pay contract is subject to KIS achieving certain financial and operational milestones before end-March 2021, including commencement of groundworks after placement of orders for long-lead time items, start of dry commissioning, and completion of ramp up.

Roskill view: The agreement makes KIS one of the frontrunners in the next wave of tungsten mine developers that are at the financing and permitting stage, at which Roskill has identified 14 projects. In March 2018, Almonty Industries secured a 10-year offtake for its Sangdong project in South Korea, while in November 2018 Australian tungsten developer Thor Mining appointed Argent Partners to assist with arranging offtakes and financing for the Molyhil project.

Roskill’s NEW Tungsten: Outlook to 2028 report was published in March 2019. Click here to download the brochure or sample pages or access further information.

To discuss the tungsten market with Roskill, contact Jessica Roberts: jessica@roskill.com

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (15806)4/15/2019 11:15:17 AM
From: LoneClone
   of 17057
 
Cobalt: Dramatic price fall comes to an end

roskill.com

Posted on 15th April 2019 in General News.

Cobalt Standard Grade prices started the year at US$26/lb but fell sharply over Q1, bottoming out at US$14/lb in late March. Q1 prices averaged US$18.50/lb.

Roskill view: This time last year, cobalt prices were above US$40/lb. Since then, oversupply (especially of hydroxide but also of most refined forms), set against sluggish demand (and limited investor stockpiling), brought about a 12-month period of price decline. The rate of that decline intensified in 2019 and, with prices dropping week-on-week, buyers remained on the sidelines. Significant amounts of cobalt were not committed to long-term contracts last year and many buyers, including those in China, are intending to purchase cobalt on a spot basis. The number of, and size of, spot deals has increased sharply. The cobalt market continues to change quickly.

With cobalt prices unable to fall much further, it appears that some restocking is taking place. This should push prices up. While the outlook for demand, especially from the battery sector, remains very positive, sentiment remains depressed compared to one year ago. Nonetheless, Roskill expects cobalt prices to recover over the course of 2019 and to remain volatile over the coming years.

Recent developments in the cobalt market include the introduction of the London Metal Exchange’s new cash-settled cobalt contract, which is settled against Fastmarkets’ benchmark standard-grade cobalt price.

Roskill’s NEW Cobalt: Outlook to 2028 report will be published in July 2019. Click here to download the brochure or sample pages or access further information.


To discuss the cobalt market with Roskill, contact Jack Bedder: jack@roskill.com

Share RecommendKeepReplyMark as Last ReadRead Replies (1)
Previous 10 Next 10