Next week’s Proactive Resource Webinar will feature three up and coming companies seeking to drive different resources and projects towards production but with one thing in common – the resources they are pursuing are in growing demand at a global level.
The webinar will feature Armada Metals Ltd with key battery metals projects in Gabon and is preparing for an ASX listing, Australian Vanadium Ltd (ASX:AVL) with its advanced vanadium project and value-adding plans in Western Australia and Latrobe Magnesium Ltd (ASX:LMG) which will utilise waste products from coal-fired power plants in Victoria to produce magnesium.
It will be on Tuesday, November 16, from 12 noon Sydney time (9am Perth time) and registrations can be made by clicking this link.
Armada Metals
With a focus on the battery metals of copper and nickel, Armada Metals is finalising an ASX listing in early December and is raising $8-$10 million to drill advanced targets in the Nyanga area of southern Gabon.
Managing director and CEO Dr Ross McGowan will outline the company’s progress to date and its post-IPO plans to advance project opportunities.
Armada has been operating on the ground for seven years and has spent $10 million exploring around 16,000 square kilometres. This resulted in the company doubling down on around 3,000 square kilometres with 18 targets in total and five considered drill-ready.
It has flown geophysics, carried out ground gravity surveys, collected soil samples, identified positive soil results and mapped sulphides at surface. “We have taken it as far as we can go until putting drill holes in,” McGowan told Proactive.
The company is confident that Nyanga sits in a classic location for a magmatic nickel-copper mineralising system, on the western edge of the Congo Craton along a major structure.
With a supply deficit looming for copper and nickel, McGowan said, “These systems generally sit on the edge of craton boundaries and in Africa these boundaries are relatively unexplored compared to the rest of the world.”
Australian Vanadium
Emerging vanadium producer Australian Vanadium Ltd is developing its high-grade namesake project to serve the steel market along with burgeoning battery markets.
Managing director Vincent Algar will outline the company progress at the Australian Vanadium Project in Western Australia's Murchison District where a 14.8% upgrade in resources to 239 million tonnes at 0.73% vanadium pentoxide was recently announced.
Combined measured and indicated high-grade resources increased to 38.3 million tonnes at 1.11% vanadium pentoxide with the resource upgrade expected to support the project’s long mine life and bankable feasibility study economics.
This project has been awarded Major Project Status by the Australian Federal Government and Lead Agency Status by the Western Australian Government in recognition of its importance as a critical mineral and battery mineral project.
AVL is also developing a A$7.4 million value-adding manufacturing plant near Geraldton where it hopes to turn vanadium pentoxide into vanadium electrolyte for vanadium redox flow battery (VRFB) projects across Australia and the Asia Pacific.
The story doesn’t end there and Algar will also outline subsidiary VSUN Energy’s new agreement with leading miner IGO Ltd for a project utilising a standalone power system based on VRFB energy storage technology.
Latrobe Magnesium
The company is developing a magnesium production plant in Victoria's Latrobe Valley using its world-first patented extraction process. The proprietary hydromet technology will use up to 50% less CO2 than other magnesium producers.
CEO David Paterson will explain the process and the company’s plans to investors during the webinar.
Initially, LMG will construct a demonstration plant to produce 1,000 tonnes per annum (tpa) magnesium initially and then planned to expand to 3,000 tpa.
However, with China’s magnesium production being restricted and a worldwide shortage pending, the board has decided to investigate increasing the size of this plant to 10,000 tonnes from 3,000.
This would result in revenues in the order of $110 million and an estimated EBITDA of $42 million. LMG already has 8,000 tpa allocated in its current offtake agreements and has received enquiries for more than 2,000tpa.
Investors have recognised the strong economic outcomes that would be generated from the expanded plant and have validated the plan by subscribing to a placement that has closed strongly oversubscribed and raised $11.5 million.
The placement to sophisticated, professional and institutional investors will see the company funded to construct the initial 1,000 tpa plant.
Following the completion of a number of value engineering studies, LMG estimates that the cost of the initial 1,000 tpa plant will be reduced to $39 million from A$45 million. Further capital cost savings may result from the completion of design and engineering activities together with additional test-work results.
Webinar details
Topic: Resource Webinar
When: Tuesday, November 16,
Time: 12 noon Sydney time, 9am WA time.
Register here: https://event.webinarjam.com/register/100/101x9ikk
Questions to: John Phillips – john.phillips@proactiveinvestors.com