Noventa's strategy is to be the world's largest, low cost industrial scale supplier of tantalum concentrate, a rare speciality metal widely used in the consumer electronics industry. There is currently a shortage of tantalum supply and stock levels in the industry are being run down. Noventa is in a unique position to expand production to meet the industries needs.
The Jersey based Company's Marropino mine in Mozambique resumed production in April 2010, and the Company has now embarked on a Strategic Plan which it believes will build the foundations of a long-term, profitable, cash generative and sustainable business.
04/08/11
Noventa, the tantalum miner, has had a torrid time very recently, but with a much needed fundraising well advanced now, and the boardroom having received a facelift, its management is no doubt looking to draw a line under its woes and move the company and its assets forward.
19/10/10
Noventa's Marropino and Morrua mines are capable of producing an estimated 6.21 million pounds of tantalum over a 9.3 year life-span of the two operations. The latest technical report report put the indicated resource at Marropino alone at 7.4mt grading 223 ppm tantalum for 3.64 mlbs of tantalum contained.
03/09/10
Noventa believes that the new discovery may enhance the Marropino mine's economics, and consequently 'reduce or eliminate' the need for further external financing under its 'Strategic Plan'.
26/08/10
According to the City broker Tantalum is one of the best stories out there in terms of supply and demand, and Noventa is "probably the best placed” to profit from an acute lack of supply.
17/08/10
The strategy of managing the Marropino tantalum mine from where it is located is quite literally paying off: painstaking efforts by the Mozambique-based team have resulted in a windfall in the form of a VAT rebate which had seemed uncollectible as the previous management had lost the required paperwork.
19/07/10
The turnaround at Noventa (LON:NVTA) under boss Eric Kohn is on track as the miner prepares for the next stage in its development. His plan is to transform the company into a world class and profitable supplier of tantalum concentrate.
20/11/09
Noventa plans to restart the Marropino tantalum mine in Mozambique around March or April 2010 and is recruiting key staff, including a new CFO as the incumbent does not plan to relocate to Maputo when the company HQ moves there.
03/08/09
Shares in Noventa Ltd (AIM: NVTA) soared in afternoon trade today after the Jersey-based tantalum mining group announced that its new management team can profitably restart the Marropino mine in Mozambique, its troubled flasgship operation, which has been in care and maintenance since May 2009.
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