Proactiveinvestors United Kingdom Tertiary Minerals plc https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Tertiary Minerals plc RSS feed en Thu, 20 Jun 2019 01:53:16 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Half-Yearly Report 2019 ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190530133003_14092750/ Thu, 30 May 2019 13:30:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190530133003_14092750/ <![CDATA[RNS press release - New Project Acquisition ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190528070009_14088038/ Tue, 28 May 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190528070009_14088038/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190228070005_13984370/ Thu, 28 Feb 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190228070005_13984370/ <![CDATA[RNS press release - Director Dealing,Issue of Equity,TVR and Warrants ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190222145036_13979211/ Fri, 22 Feb 2019 14:50:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190222145036_13979211/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190221162911_13977783/ Thu, 21 Feb 2019 16:29:11 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190221162911_13977783/ <![CDATA[News - Tertiary Minerals expands Nevada portfolio by staking early stage exploration area ]]> https://www.proactiveinvestors.co.uk/companies/news/215020/tertiary-minerals-expands-nevada-portfolio-by-staking-early-stage-exploration-area-215020.html Tertiary Minerals plc (LON:TYM) has added a new project to its portfolio, picking up the Paymaster exploration area in Nevada, USA.

Existing exploration data for the area included grab samples with up to 21% zinc, 6.5% lead, 3.3% copper and 253 grams per tonne silver, plus ‘high levels’ tellurium and cobalt which are described by Tertiary as “high-tech metals”.

READ: Tertiary Minerals hails recovery of fluorspar market

It plans to conduct its own geophysical exploration work in order to define drill targets for future programmes.

"Whilst we continue with our strategy of reviewing project acquisition opportunities potentially capable of generating revenue and profits in a shorter timescale, we have also expanded our scope to include earlier stage projects which can be developed organically," said Richard Clemmey, Tertiary managing director.

"We are therefore pleased to have secured the first project in the pipeline of exciting new projects currently being assessed.

“As well as progressing our MB fluorspar project, building a new project portfolio should enable the company to reduce its future geographical, technical, permitting and commodity risk exposure and provide long term shareholder value".

At the same time, Tertiary also noted that at the MB fluorspar project, also in Nevada, the next phase of metallurgical testing – a feed into scoping study work – will begin before the end of this month.

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Thu, 21 Feb 2019 07:53:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215020/tertiary-minerals-expands-nevada-portfolio-by-staking-early-stage-exploration-area-215020.html
<![CDATA[RNS press release - New Project Acquisition and MB Project Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190221070002_13976409/ Thu, 21 Feb 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190221070002_13976409/ <![CDATA[News - Tertiary Minerals raises £250,000 via placing to provide additional working capital for fluorspar projects development ]]> https://www.proactiveinvestors.co.uk/companies/news/213322/tertiary-minerals-raises-250000-via-placing-to-provide-additional-working-capital-for-fluorspar-projects-development-213322.html Tertiary Minerals plc (LON:TYM) has raised £250,000 before expenses via a placing to provide additional working capital for the company to fund development work for its fluorspar projects and for potential acquisition opportunities.

The AIM-listed group, which is building a strategic position in the fluorspar sector, said SVS Securities placed 83,333,333 new ordinary shares in the company at a price of 0.3p each.

READ: Tertiary will assess decision to deny exploitation concession at Storuman

Shares in Tertiary Minerals closed trade on Thursday at 0.38p each. The group said SVS has been appointed as a joint broker to the company.

The firm said the funds raised will be used to commence the second phase of a Scoping Study level bench scale metallurgical testwork at SGS Lakefield in Canada with the aim of producing commercial grade acid-spar.

It added that they will also be used to commence a Scoping Study at the MB Fluorspar Project in Nevada on successful completion of the metallurgical testwork, as well as progressing the appeal process of the Exploitation (Mine) permit with the Swedish Government or the Storuman Fluorspar Project,

The company said it will also use the funds to progress the evaluation and due diligence of acquisition opportunities.

Richard Clemmey, Tertiary Minerals’ managing director commented: "In the current challenging market conditions we are pleased to have raised the funds necessary to commence the next important phase of development work on our MB Fluorspar project in Nevada.

“Alongside this we continue to progress the Storuman Mine Permit appeal with the Swedish Government and increase our focus on potential acquisition targets as the appeal progress runs its course".

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Fri, 25 Jan 2019 07:45:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213322/tertiary-minerals-raises-250000-via-placing-to-provide-additional-working-capital-for-fluorspar-projects-development-213322.html
<![CDATA[RNS press release - Placing to Raise £250,000 ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190125070003_13946338/ Fri, 25 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190125070003_13946338/ <![CDATA[News - Tertiary will assess decision to deny exploitation concession at Storuman ]]> https://www.proactiveinvestors.co.uk/companies/news/212560/tertiary-will-assess-decision-to-deny-exploitation-concession-at-storuman-212560.html Tertiary Minerals plc (LON:TYM) will assess a decision by the Swedish Mining Inspectorate to reject its application for an exploitation concession.

The Mining Inspectorate stated that the economic aspects point in favour of granting the concession, and the socio-economic benefits to the community would be considerable.

READ: Tertiary Minerals offers direct exposure to fluorspar, a material deemed strategic and critical by the EU, US and China alike

However, the Mining Inspectorate also found that co-existence with reindeer husbandry would e compromised.

The company's Swedish lawyer has commented that the Mining Inspectorate has not fully assessed the case regarding the protective and mitigation measures suggested by Tertiary and has instead only taken the local authority’s assessment into account.

The lawyer has recommended that Tertiary appeal the decision to the Government

Tertiary will now fully assess the decision and intends to lodge an appeal with the Swedish government in line with the advice of its Swedish lawyer

"We are disappointed that the Mining Inspectorate has taken this decision based on the application in its current form,” said managing director Richard Clemmy.

“We, together with our Swedish Lawyers, will appeal the decision to the Swedish Government and will now assess the future options available to the Company".

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Tue, 15 Jan 2019 07:33:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212560/tertiary-will-assess-decision-to-deny-exploitation-concession-at-storuman-212560.html
<![CDATA[RNS press release - Storuman Project Mine Permit Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190114162215_13934084/ Mon, 14 Jan 2019 16:22:15 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20190114162215_13934084/ <![CDATA[RNS press release - Publication of Report & Accounts / Notice of GM ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20181221100001_13913049/ Fri, 21 Dec 2018 10:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20181221100001_13913049/ <![CDATA[News - Tertiary Minerals hails recovery of fluorspar market in 2018 despite permitting challenges for Storuman mine ]]> https://www.proactiveinvestors.co.uk/companies/news/211054/tertiary-minerals-hails-recovery-of-fluorspar-market-in-2018-despite-permitting-challenges-for-storuman-mine-211054.html Tertiary Minerals PLC’s (LON:TYM) managing director, Richard Clemmey, has hailed a recovery in the fluorspar market in 2018 in the company’s full year results despite permitting challenges at its Storuman Mine in Sweden.

The fluorspar-focused firm said it had resolved two key issues in an ongoing permitting process for the Storuman project, while it had completed the first phase of scoping study level bench scale metallurgical testwork for its MB Fluorspar project in Nevada, with the second phase of testwork planned for 2019.

READ: Tertiary Minerals offers direct exposure to fluorspar, a material deemed strategic and critical by the EU, US and China alike

Regarding the fluorspar market itself, the firm said prices had continued to rise during the year amid increased demand and China imposing strict environmental regulations on domestic fluorspar miners. The Chinese benchmark acid-spar recently hit a seven-year high of around US$565 a tonne.

Tertiary added that raw materials firm Possehl Erzkontor GmbH & Co, with which it signed a Memorandum of Understanding last year, would continue to support the company with the development of its projects and the evaluation of potential acquisitions.

The group also said Aurion Resources, which operates gold projects in Finland and in which it holds a royalty interest, had re-logged and sampled drill cores provided by Tertiary with a view to further drilling in 2019.

Clemmey said: "It is pleasing to see the recovery in the fluorspar market continue in 2018 but It has been a year of frustratingly slow progress for our Storuman Mine Permit re-assessment process. We have made good progress in establishing that our operations will not affect the nearby Natura 2000 area and that reindeer husbandry is able to co-exist alongside the open pit mine, but we still face objections from the County Administration Board (CAB) regarding the location of the Tailings Storage Facility.

"We, together with our Swedish consultants and legal team, strongly disagree with the CAB's position and so remain hopeful for a positive resolution of this matter."

He added: "Looking forward to 2019, with the continued support from Possehl we look ahead to progressing the Scoping Study on our large MB project as well as continuing our evaluation of potential complimentary acquisition targets."

In its results for the year, Tertiary reported a loss before income tax of around £2.2mln compared to a £395,532 loss last year, mainly due to impairment of a deferred exploration asset of £1.97mln.

The group ended the year with cash and cash equivalents of £218,297.

Shares were down 5% at 0.47p.

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Wed, 12 Dec 2018 11:02:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211054/tertiary-minerals-hails-recovery-of-fluorspar-market-in-2018-despite-permitting-challenges-for-storuman-mine-211054.html
<![CDATA[RNS press release - Audited Results for the year to 30 September 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20181212101500_13900986/ Wed, 12 Dec 2018 10:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20181212101500_13900986/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20181022164029_13837942/ Mon, 22 Oct 2018 16:40:29 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20181022164029_13837942/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20181022163515_13837935/ Mon, 22 Oct 2018 16:35:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20181022163515_13837935/ <![CDATA[News - Tertiary Minerals offers direct exposure to fluorspar, a material deemed strategic and critical by the EU, US and China alike ]]> https://www.proactiveinvestors.co.uk/companies/news/206772/tertiary-minerals-offers-direct-exposure-to-fluorspar-a-material-deemed-strategic-and-critical-by-the-eu-us-and-china-alike-206772.html  

What Tertiary Minerals does

Tertiary Minerals plc (LON:TYM) is one of the few listed juniors anywhere in the world that is focused on fluorspar.

Fluorspar is an essential raw material in the chemical, steel and aluminium industries with no large-scale commercial alternative, or recycling available. 

A European Commission report has named fluorspar as one of its 27 'critical mineral raw materials' for which a predicted supply shortage would represent a substantial economic threat. The USA considers fluorspar as a strategic mineral and is currently importing 100% of its fluorspar.

Western Europe and North America are the largest acid-spar consuming regions outside China.

China's fluorspar exports have continued to decline since 2000, a decline was driven by increasing internal demand and production and export restrictions. Under this dynamic, China is likely to evolve from a large net exporter to a potential net importer.

In 2017 China listed fluorspar as a strategic mineral

What Tertiary Minerals owns

The lead asset is the Storuman project in Sweden, which shows the potential to produce an average annual production of 103,000 tonnes of acid-grade fluorspar per year over a mine life of 18 years.

On those parameters the mine would generate US$616mln in gross cash, netting out to a total of U$137mln.

The initial capital costs were put at US$46mln in the scoping study that generated these numbers.

However, Sweden’s permitting regime is notoriously hard to navigate, and there still remains work to be done on this score.

Other fluorspar assets coming along behind

Tertiary is also working up the Lassedalen project in Norway and the MB Fluorspar project in Nevada. Of the two, MB is more advanced and is currently the subject of a scoping study being conducted by SGS Lakefield.

New Paymaster project offers exposure to zinc, silver, copper and lead

In February Tertiary staked a claim to the Paymaster project in Nevada. Paymaster has already yielded attractive grades of mineralisation in grab samples. The strike length currently runs to 1.7 kilometres. The ground is prospective for zinc, silver, copper, lead, as well as hi-tech metals cobalt and tellurium

More acquisitions could be on the way

“Whilst we continue with our strategy of reviewing project acquisition opportunities potentially capable of generating revenue and profits in a shorter timescale, we have also expanded our scope
to include earlier stage projects which can be developed organically,” said chief executive Richard Clemmy, after the acquisition of Paymaster. Tertiary has also said previously that it was considering deals involving other fluorspar assets

Tightly run operation

In the six months to 31 March 2018 Tertiary lost just £170,000, a small sum for an exploration and development company. The figure was so low partly because the company was able to book a profit on the sale of some shares in Aurion Resources, whilst retaining a royalty. However, the figure for the comparable period in 2017 was even lower, so there is a pattern here. The main reason is that administration costs are kept down by basing the company outside of London and allowing it to share offices and staff with sister company Sunrise Resources (LON:SRES).

The company raised £250,000 in January 2019 for working capital and to continue with development work on its projects. 

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Wed, 10 Oct 2018 10:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206772/tertiary-minerals-offers-direct-exposure-to-fluorspar-a-material-deemed-strategic-and-critical-by-the-eu-us-and-china-alike-206772.html
<![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180831070003_13773757/ Fri, 31 Aug 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180831070003_13773757/ <![CDATA[RNS press release - Director Dealing, Issue of Equity and TVR ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180820105309_13761306/ Mon, 20 Aug 2018 10:53:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180820105309_13761306/ <![CDATA[News - Tertiary Minerals reviews advice from Swedish authorities on Storuman fluorspar project ]]> https://www.proactiveinvestors.co.uk/companies/news/200780/tertiary-minerals-reviews-advice-from-swedish-authorities-on-storuman-fluorspar-project-200780.html Tertiary Minerals plc (LON:TYM) said Swedish authorities have advised against granting a mining permit for the Storuman fluorspar project in its current form but it is considering its next steps to overcome the hurdle.

In April, the company submitted requested supplementary reports to the Swedish Mining Inspectorate regarding its application for a mining permit after meetings between the two and the County Administrative Board of Västerbotten (CAB).

The group had undertaken an in-depth analysis of reindeer herding practices and patterns in the region, given that grazing occurs in the area of planned mining operations.

Wider environmental studies and in-depth analysis were undertaken, showing that the proposed mining operations at Storuman, with mitigation measures proposed, would have only a minimal impact on reindeer husbandry.

READ: Tertiary Minerals in constructive dialogue with authorities in Sweden about mine permit

Tertiary Minerals said the CAB was not satisfied with these mitigation measures and has therefore advised against a mining permit in its current form.

The CAB, however, accepted that a supplementary permit for the Natura 200 area was not required.

"I am pleased that the CAB has accepted that we do not require an additional Natura 2000 permit, which would be a costly and time-consuming process,” said managing director Richard Cleeming.

“It is however disappointing that the CAB has not accepted the extensive mitigation measures proposed for the TSF location.”

He added that the group's Swedish consultants and lawyers remain of the “strong opinion” that the mitigation measures proposed are “more than adequate” to enable the co-existence of reindeer husbandry and the tailings storage facility operation.

The group is working with its consultants and lawyers to review the CAB’s response and will decide on the best course of action to resolve the issue, Cleeming concluded. 

Tertiary will not spend any further money on exploration or development of the Storuman project until the matter is resolved.

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Fri, 13 Jul 2018 15:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200780/tertiary-minerals-reviews-advice-from-swedish-authorities-on-storuman-fluorspar-project-200780.html
<![CDATA[RNS press release - Storuman Project Mine Permit Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180713142902_13717718/ Fri, 13 Jul 2018 14:29:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180713142902_13717718/ <![CDATA[News - Tertiary Minerals focuses attention on single acquisition in second half of financial year ]]> https://www.proactiveinvestors.co.uk/companies/news/197453/tertiary-minerals-focuses-attention-on-single-acquisition-in-second-half-of-financial-year-197453.html Tertiary Minerals PLC (LON:TYM) said it is focusing its acquisition efforts on one particular project as it provided an update in its half-year report.

The AIM-listed miner reported a pre-tax loss for the period of £133,539, narrowing from £211,850 in the same period last year, while the group ended the period with cash and cash equivalents totalling £474,052, up from £145,212 for the same period a year ago.

READ: Tertiary Minerals in constructive dialogue with authorities in Sweden about mine permit

The group added that following an evaluation of several potential acquisitions, it was now focusing its efforts on one fluorspar project that has the potential to generate revenue in the near term.

Tertiary also said that the Swedish Mining Inspectorate was assessing feedback from key stakeholders regarding its application for an exploitation permit for the Storuman Fluorspar project in Sweden.

In April, the firm had said dialogue between itself and the relevant authorities in Sweden had continued to make constructive progress regarding the potential development of the project.

Meanwhile, scoping study level bench scale metallurgical testwork was progressing at SGS Lakefield in Canada for the company’s MB Fluorspar project in Nevada, USA.

Executive chairman of Tertiary, Patrick Cheetham, said: “The pricing environment for fluorspar has continued to strengthen, particularly for delivery into Europe where, after a period of disconnect, prices are now catching up with Chinese domestic prices which have traditionally set the pricing benchmark. Downstream processors of fluorochemicals have recently reported strong sales and increased prices.”

He added that the company was still entitled to further payments on the definition of ore reserves and mineral resources and a royalty on production in relation to the sale of its Finnish gold projects to Aurion Resources Ltd, in which the company profited £31,264.

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Tue, 22 May 2018 10:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/197453/tertiary-minerals-focuses-attention-on-single-acquisition-in-second-half-of-financial-year-197453.html
<![CDATA[RNS press release - Half-Yearly Report 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180522092110_13650180/ Tue, 22 May 2018 09:21:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180522092110_13650180/ <![CDATA[News - Tertiary Minerals in constructive dialogue with authorities in Sweden about mine permit ]]> https://www.proactiveinvestors.co.uk/companies/news/195117/tertiary-minerals-in-constructive-dialogue-with-authorities-in-sweden-about-mine-permit-195117.html Dialogue between Tertiary Minerals plc (LON:TYM) and the relevant authorities in Sweden continues to make constructive progress in regard to the potential development of the Storuman fluorspar project, according to chief executive Richard Clemmey.

“Given that we continue to have support from the majority of key stakeholders, we remain hopeful of a positive resolution to the mine permit re-assessment process in the near future,” he said. 

WATCH: Tertiary Minerals, Advanced Oncotherapy among Alan Green's 2018 stocks to watch

Meetings have recently been held between the head of the Swedish Mining Inspectorate, The County Administrative Board of Västerbotten and the Tertiary. These were described as “positive.”

In addition, the requested supplementary reports have now been submitted to the Swedish Mining Inspectorate, along with a legal statement.

The company has undertaken in-depth analysis of reindeer herding practices and patterns in the region, given that grazing occurs in the area of planned mining operations

Wider environmental studies and in-depth analysis have also been undertaken, and this shows that the proposed mining operations at Storuman, with mitigation measures proposed, will have only a minimal impact on reindeer husbandry.

"We are pleased with the positive findings from the in-depth analysis and the high quality of the reports produced,” added Clemmey.

“It is, however, worth noting that the company has no influence on the speed at which the re-assessment of the grant of the mining permit is being processed by the Authorities".

 

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Tue, 17 Apr 2018 07:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195117/tertiary-minerals-in-constructive-dialogue-with-authorities-in-sweden-about-mine-permit-195117.html
<![CDATA[RNS press release - Storuman Project Mine Permit Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180417070003_13606592/ Tue, 17 Apr 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180417070003_13606592/ <![CDATA[RNS press release - Change of Adviser ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180302124724_13553090/ Fri, 02 Mar 2018 12:47:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180302124724_13553090/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180228070002_13548226/ Wed, 28 Feb 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180228070002_13548226/ <![CDATA[RNS press release - Director Dealing, Issue of Equity,TVR and Warrants ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180201130002_13518338/ Thu, 01 Feb 2018 13:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180201130002_13518338/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180131162309_13516864/ Wed, 31 Jan 2018 16:23:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180131162309_13516864/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180125154129_13510053/ Thu, 25 Jan 2018 15:41:29 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20180125154129_13510053/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171229133001_13481014/ Fri, 29 Dec 2017 13:30:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171229133001_13481014/ <![CDATA[Media files - Tertiary Minerals, Advanced Oncotherapy among Alan Green's 2018 stocks to watch ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/8574/tertiary-minerals-advanced-oncotherapy-among-alan-green-s-2018-stocks-to-watch-8574.html Wed, 27 Dec 2017 10:07:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/8574/tertiary-minerals-advanced-oncotherapy-among-alan-green-s-2018-stocks-to-watch-8574.html <![CDATA[RNS press release - Publication of Report and Accounts / Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171222070005_13475272/ Fri, 22 Dec 2017 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171222070005_13475272/ <![CDATA[News - Tertiary Minerals looking up again as fluorspar price rallies ]]> https://www.proactiveinvestors.co.uk/companies/news/188792/tertiary-minerals-looking-up-again-as-fluorspar-price-rallies-188792.html Tertiary Minerals PLC (LON:TYM) has issued a bullish assessment of prospects following an uptick in the fluorspar price and a recent strategic relationship with commodities group Possehl.

Richard Clemmey, managing director, said development progress had been slower than hoped due to delays in permitting at Storuman in Sweden, but its search for fluorspar project acquisitions had moved forward with one project now at an advanced stage of talks.

READ: Tertiary Minerals raises £500,000 via a placing to progress evaluation of acquisition opportunities, advance project work

The Possehl deal was also a critical building block for the company, he said.

“This strategic relationship not only provides us with the opportunity, and competitive advantage, to secure long-term sales contracts but also access to pre-financing once the definitive Offtake Agreement is signed as we move closer to mine development and production."

 "It is also pleasing to see the fluorspar market and prices improve during the latter part of 2017 and we look forward to this trend continuing,” he added.

Tertiary noted that its team at the MB project in Nevada received the Bureau of Land Management's (BLM) 2017 Hardrock Small Operator Award (National award) for outstanding and innovative reclamation and sustainable mineral development work on the project.

“As we head into 2018, with rekindled investor interest in the company, we have a number of irons in the fire,” Clemmey added.

Losses for the year to September were £395,000 (£473,000) on revenues of £241,000.

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Thu, 14 Dec 2017 09:27:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/188792/tertiary-minerals-looking-up-again-as-fluorspar-price-rallies-188792.html
<![CDATA[RNS press release - Audited Results for the year to 30 September 2017 ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171213162553_13464569/ Wed, 13 Dec 2017 16:25:53 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171213162553_13464569/ <![CDATA[News - Tertiary Minerals raises £500,000 via a placing to progress evaluation of acquisition opportunities, advance project work ]]> https://www.proactiveinvestors.co.uk/companies/news/188356/tertiary-minerals-raises-500000-via-a-placing-to-progress-evaluation-of-acquisition-opportunities-advance-project-work-188356.html Tertiary Minerals plc (LON:TYM) has raised £500,000 before expenses via a share placing with the funds raised to be used to progress the evaluation and due diligence of acquisition opportunities, and for work on its fluorspar projects in Sweden, Norway and Nevada in the US.

The AIM listed firm, which is focused on building a strategic position in the fluorspar sector, said its joint broker Beaufort Securities has placed around 41.667mln new ordinary shares at 1.2p each.

In late morning trading, Tertiary shares were changing hands at 1.45p each, down 14.7% 0r 0.25p on last night’s closing price.

READ: Tertiary Minerals says no reason for share price surge aside from recent MoU with Possehl

In its statement, the company said it is “engaged in discussions and technical due diligence for shortlisted projects capable of generating revenue and profits in the near-term, with discussions being reasonably advanced on one particular project.”

Richard Clemmey, Tertiary’s managing director, commented: "Strong investor interest has enabled us to complete this placing, the proceeds of which will provide funds to progress with the evaluation and due diligence of acquisition opportunities and the ongoing development of our fluorspar projects."

Tertiary’s share price has been on a good run recently since it announced it has signed a memorandum of understanding (MoU)with global commodities group Possehl to enter into an offtake agreement to support the group’s three fluorspar projects.

Under the offtake agreement, Possehl would take at least 70% of commercial grade acid-spar produced at Storuman in Sweden, Lassedalen in Norway, and MB in Nevada.

Possehl, which is part of German-based commodities business Cremer, would provide funds to develop the deposits and for any acquisitions Tertiary may make to bulk them up.

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Wed, 06 Dec 2017 11:05:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/188356/tertiary-minerals-raises-500000-via-a-placing-to-progress-evaluation-of-acquisition-opportunities-advance-project-work-188356.html
<![CDATA[RNS press release - Placing raises £500,000 ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171206104106_13455885/ Wed, 06 Dec 2017 10:41:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171206104106_13455885/ <![CDATA[News - Tertiary Minerals says no reason for share price surge aside from recent MoU with Possehl ]]> https://www.proactiveinvestors.co.uk/companies/news/188161/tertiary-minerals-says-no-reason-for-share-price-surge-aside-from-recent-mou-with-possehl-188161.html Tertiary Minerals plc (LON:TYM), which saw its shares surge higher on Friday, said after the close that it was not aware of any other reason for the movement other than the recently announced memorandum of understanding (MoU) signed with global commodities group Possehl.

The MoU provides for the companies to enter into an offtake agreement to support Tertiary’s three fluorspar projects.

READ: Tertiary Minerals rejuvenates fluorspar operation through tie-up with Possehl

However, the group said on Friday a definitive offtake agreement is subject to further negotiation with Possehl, and the detailed commercial terms have yet to be agreed.

“There can be no guarantee that an offtake agreement will be entered into,” Tertiary Minerals said.

Under the offtake agreement, Possehl would take at least 70% of commercial grade acid-spar produced at Storuman in Sweden; Lassedalen in Norway; and MB in Nevada.

Possehl, which is part of commodities business Cremer, would provide funds to develop the deposits and for any acquisitions Tertiary may make to bulk them up.

Tertiary would also receive logistics and infrastructure support from the German-based group while the projects are developed.

The MoU will be effective until one of Tertiary’s projects has been in production for a year or a formal offtake agreement is signed.

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Fri, 01 Dec 2017 17:13:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/188161/tertiary-minerals-says-no-reason-for-share-price-surge-aside-from-recent-mou-with-possehl-188161.html
<![CDATA[RNS press release - Share Price Movement ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171201161838_13451696/ Fri, 01 Dec 2017 16:18:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171201161838_13451696/ <![CDATA[RNS press release - David Whitehead ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171129105109_13447750/ Wed, 29 Nov 2017 10:51:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171129105109_13447750/ <![CDATA[News - Tertiary Minerals rejuvenates fluorspar operation through tie-up with Possehl ]]> https://www.proactiveinvestors.co.uk/companies/news/187951/tertiary-minerals-rejuvenates-fluorspar-operation-through-tie-up-with-possehl-187951.html Tertiary Minerals plc (LON:TYM) has given a major boost to its three fluorspar projects through a strategic tie-up with global commodities group Possehl.

Germany-based, Possehl is part of Cremer, a commodities business with annual turnover of more than €3bn.

READ: Tertiary Minerals wins US national award for sustainable mineral development work

The fledgling agreement between the two companies will see Possehl take at least 70% of commercial grade acid-spar produced at Storuman in Sweden; Lassedalen in Norway; and MB in Nevada.

Possehl will provide funds to develop the deposits and for any acquisitions Tertiary may make to bulk them up.

Tertiary will also receive logistics and infrastructure support from the German group while the projects are developed.

Possehl is headquartered in Lübeck,employs 1,800 people and shipped over 10.4mln tonnes of commodities in 2016.

The memorandum will be effective until one of Tertiary’s projects has been in production for a year or a formal offtake agreement is signed.

Richard Clemmey, Tertiary’s managing director, said he was delighted with the agreement.

READ: Tertiary Minerals looks to build bulk in industrial minerals

“The relationship represents a critical building block in our quest to becoming a leading supplier of fluorspar to the global markets.

“Not only does this provide the company with the opportunity, and competitive advantage, to secure long-term sales contracts with key fluorspar end users but also access to pre-financing.”

Michael Fanger from Possehl added: "We have enjoyed a great working relationship with Richard over the years on various mining operations and we are excited to work with the Tertiary management team on their fluorspar operations".

 

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Wed, 29 Nov 2017 07:37:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/187951/tertiary-minerals-rejuvenates-fluorspar-operation-through-tie-up-with-possehl-187951.html
<![CDATA[RNS press release - TYM Partners with Global Commodities Trading Group ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171129070002_13446936/ Wed, 29 Nov 2017 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171129070002_13446936/ <![CDATA[News - Tertiary Minerals wins US national award for sustainable mineral development work ]]> https://www.proactiveinvestors.co.uk/companies/news/186856/tertiary-minerals-wins-us-national-award-for-sustainable-mineral-development-work-186856.html Tertiary Minerals plc (LON:TYM) has won the 2017 Hardrock Small Operator Award given by the US government’s Bureau of Land Management for its “outstanding and innovative reclamation and sustainable mineral development work on the company’s MB Fluorspar project in Nevada.”

The award was officially presented at a luncheon hosted by the National Mining Association (NMA) and the US Department of Interior held in Washington DC on 6 November 2017.

READ: Tertiary Minerals looks to build bulk in industrial minerals

"We are delighted to receive this prestigious award which is a testament to the operational and environmental excellence the company strives for and to the quality of the carefully selected contractors employed on our operations,” said managing director Richard Clemmey.

READ: Tertiary Minerals says in advanced discussions regarding acquisition opportunities in the fluorspar and industrial minerals sector

“I would like say a special thank you to our consulting geologists, Hunsaker Inc, and earthmoving contractors, DV Gravel & Exploration LLC, for their continued hard work and commitment to the MB Project, without which the award would not have been possible".

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Tue, 07 Nov 2017 08:12:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/186856/tertiary-minerals-wins-us-national-award-for-sustainable-mineral-development-work-186856.html
<![CDATA[RNS press release - Tertiary Minerals Wins National Award in the USA ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171107070006_13422372/ Tue, 07 Nov 2017 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171107070006_13422372/ <![CDATA[News - Tertiary Minerals agreement with Possehl looks the real deal ]]> https://www.proactiveinvestors.co.uk/companies/news/185949/tertiary-minerals-agreement-with-possehl-looks-the-real-deal-185949.html AIM-listed Tertiary Minerals PLC (LON:TYM)  is the UK's only public traded fluorspar company.

And it looks set to hold onto that position for the foreseeable future after global commodities group Possehl agreed to help to develop its three main assets.

Germany-based, Possehl is part of Cremer, a commodities business with annual turnover of more than €3bn.

The fledgling agreement between the two companies will see Possehl take at least 70% of commercial grade acid-spar produced at Storuman in Sweden; Lassedalen in Norway; and MB in Nevada.

Possehl will provide funds to develop the deposits and for any acquisitions Tertiary may make to bulk them up.

Tertiary will also receive logistics and infrastructure support from the German group while the projects are developed.

Fluorspar has multiple applications

Tertiary has more than 13mln tonnes of contained fluorspar defined across its assets.

Fluorspar is the mineral form of calcium fluoride - CaF2 - and has many applications.

When mined, it is separated into two main grades -  acidspar is at least 97% calcium fluoride, while metspar (metallurgical spar) is a much lower purity -  at between 60% and 85%.

The latter is used for iron smelting, and to manufacture glass, steel, enamels and aluminium products, while acidspar is generally converted to hydrofluoric acid, by combining it with sulphuric acid.

Fluorocarbons and fridges

This can then be made into other things like fluorocarbons, which are used in Teflon (the stuff your frying pan is coated with), fridges, freezers and air conditioning units.

It is perhaps worth noting that new environmentally friendly refrigerants, required by regulation, contain more fluorine than the older ozone depleting ones.

Global demand for fluorspar is between 6 and 6.5mln tonnes a year, according to Tertiary, with acidspar, the most in demand of the two - at around 3.8mln tonnes a year.

China produces more than half of all fluorspar production but exports have continued to decline as the People's Republic has developed and needs to use its own source.

It's classed as a 'critical' raw material by the European Commission.

Outside of China, Western Europe, Canada and the USA (which imports 100% of what it needs) are the largest acid-spar consumers, importing more than 900,000 tonnes a year.

Tertiary is well-placed to capitalise on this opportunity

At MB, which covers 2,800 acres, and 146 claims, near the US Highway 50, there are 6.1mln tonnes at 10.8% fluorspar in the higher confidence indicated category and 80.3 million tonnes of inferred, grading 10.7%, at a 9% cut-off.

Storuman has a total JORC resource of nearly 28 mln tonnes at 10.21%.

Norway still ongoing

Lassedalen, although on the sidelines, and effectively on care and maintenance for some times as the firm focuses  on the US and Sweden, has a 4mln tonne resources (grading 25% fluorspar) and a scoping study previously has shown enough for nearly seven years of mining.

Possehl based in Lubeck

Possehl, meanwhile, is headquartered in Lübeck, employs 1,800 people and shipped over 10.4mln tonnes of commodities in 2016.

The memorandum will be effective until one of Tertiary’s projects has been in production for a year or a formal offtake agreement is signed.

Richard Clemmey, Tertiary’s managing director, said he was delighted with the agreement.

READ: Tertiary Minerals looks to build bulk in industrial minerals

“The relationship represents a critical building block in our quest to becoming a leading supplier of fluorspar to the global markets.

“Not only does this provide the company with the opportunity, and competitive advantage, to secure long-term sales contracts with key fluorspar end users but also access to pre-financing.”

Michael Fanger from Possehl added: "We have enjoyed a great working relationship with Richard over the years on various mining operations and we are excited to work with the Tertiary management team on their fluorspar operations".

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Fri, 20 Oct 2017 12:25:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/185949/tertiary-minerals-agreement-with-possehl-looks-the-real-deal-185949.html
<![CDATA[News - Tertiary Minerals says in advanced discussions regarding acquisition opportunities in the fluorspar and industrial minerals sector ]]> https://www.proactiveinvestors.co.uk/companies/news/185851/tertiary-minerals-says-in-advanced-discussions-regarding-acquisition-opportunities-in-the-fluorspar-and-industrial-minerals-sector-185851.html Tertiary Minerals plc (LON:TYM)  has revealed it is in advanced discussions regarding acquisition opportunities in the fluorspar and industrial minerals sector in a corporate and operational update today.

In the statement, Tertiary’s managing director, Richard Clemmey said: “Management is also focused on acquisition opportunities in the fluorspar and industrial minerals sector. Advanced discussions and technical due diligence are in progress and we look forward to releasing further news in due course."

READ: Tertiary Minerals raises £300,000 as it evaluates acquisition opportunities

Commenting on current operations, Clemmey added: “Metallurgical testwork at the MB project in Nevada is progressing and is aimed at producing a commercial grade mica product alongside commercial grade acid-spar.”

The AIM-listed company is developing its three key fluorspar assets - in Sweden, Norway, and Nevada in the US - where more than 13mln tonnes of contained fluorspar (CaF2 %) has been defined, JORC classified Indicated and Inferred.

READ: Tertiary Minerals' chairman tops up stake

Looking at its operations, the group said re-assessment process of its Exploitation (Mine) Permit by the Swedish Mining Inspectorate is progressing, while in Norway the seasonal environmental testwork required as part of the due diligence for the purchase of land and old fluorspar mine workings from Hydro has been completed by Niva and data review now underway.

Tertiary also noted that the 83,072 shares the company received as part consideration for its sale of a stake in the Aurion Resources Finnish gold project have increased in value from £85,000 to more than £140,000, based on current mid-market price and exchange rates.

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Thu, 19 Oct 2017 07:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/185851/tertiary-minerals-says-in-advanced-discussions-regarding-acquisition-opportunities-in-the-fluorspar-and-industrial-minerals-sector-185851.html
<![CDATA[RNS press release - Corporate and Operational Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171019070003_13401586/ Thu, 19 Oct 2017 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20171019070003_13401586/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20170630070002_13278663/ Fri, 30 Jun 2017 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20170630070002_13278663/ <![CDATA[News - Tertiary Minerals raises £300,000 as it evaluates acquisition opportunities ]]> https://www.proactiveinvestors.co.uk/companies/news/178474/tertiary-minerals-raises-300000-as-it-evaluates-acquisition-opportunities-178474.html Fluorspar explorer Tertiary Minerals plc (LON:TYM) announced on Friday plans to raise £300,000 through a placing of shares at 0.6p each.

The company will use the funds raised to augment working capital and to finance project work.

“We are pleased with the continued investor interest in the company and the placing will provide working capital to progress with the evaluation and due diligence of acquisition opportunities and the continued development of its fluorspar projects," said Richard Clemmey, managing director of Tertiary.

In a separate announcement the company said it made an operating loss of £156,140 in the six months to the end of March on revenue of £134,85.

The company said it remained committed to its fluorspar business but has been reviewing complementary project acquisition opportunities capable of generating revenue and profits in a shorter timescale. It has currently shortlisted a number of projects where more detailed evaluation and due diligence is in progress.

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Fri, 26 May 2017 16:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/178474/tertiary-minerals-raises-300000-as-it-evaluates-acquisition-opportunities-178474.html
<![CDATA[RNS press release - Half-Yearly Report 2017 ]]> https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20170526152100_13240686/ Fri, 26 May 2017 15:21:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/1002/LSE20170526152100_13240686/