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Perpetual Resources Signs Binding MOU with Chinese Glass Maker
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Perpetual Resources and The Market Herald Dealroom Interview - September 2020
Perpetual Resources Investor Update - Inferred Mineral Resource of 111.3 Million Tonnes at 98.6% SiO2 - July 2020
The Market Herald Live Bulletin: PEC Expands Industrial Sands Project Portfolio - 6th May 2020
Read The Full Article on The Market Herald Here
22nd July 2020 - The Market Herald
- Perpetual Resources (PEC) has released a maiden mineral resource estimate for the Beharra High Purity Silica Sands Project in WA
- The inferred mineral resource estimate for Beharra stands at 111.3 million tonnes at 98.6 per cent silicon dioxide
- Additionally, an exploration target of between eight to 13 million tonnes with grades between 97 to 99 per cent silicon dioxide was also estimated
- Perpetual is now collecting environmental, heritage and native title evaluations for the completion of a pre-feasibility study
- Once discussions with relevant bodies are completed, the company will lodge a mining lease application for the Beharra Project
- Despite this news, Perpetual's share price has dropped 12.5 per cent and shares are trading for 3.5 cents each
Perpetual Resources (PEC) has released a maiden mineral resource estimate for the Beharra High Purity Silica Sands Project in WA.
The inferred mineral resource estimate for Beharra stands at 111.3 million tonnes at 98.6 per cent silicon dioxide.
This resource estimate was calculated from 40 aircore holes, totalling 506.7 metres, and 38 auger drill holes, totalling 76 metres.
Additionally, an exploration target of between eight to 13 million tonnes with grades between 97 to 99 per cent silicon dioxide was also estimated.
This target extends beneath the mineral resource to the north and the quantity and grade of the target is conceptual as there has been insufficient exploration to estimate a mineral resource in this area.
Perpetual is now collecting prerequisite inputs for the completion of a pre-feasibility study. This includes environmental, heritage and native title evaluation, and further detailed analysis of the Beharra Project.
Additionally, the mineral resource estimate will be used to form the basis of a mining lease application.
Once Perpetual has completed discussions with environmental, heritage, and permitting consultants, it will lodge a mining lease application with the Western Australian Department of Mines.
"The maiden mineral resource estimation and exploration target has provided us with a compelling investment case for proceeding with a pre-feasibility study across the project," Managing Director Robert Benussi said.
"The scale of the mineral resource in conjunction with the amenability of the silica to produce a high purity product strongly warrants our dedicated focus to advance the project," Robert said.
"The delineation of the additional exploration target provides scope to significantly expand the scale of the project when required," he said.
Despite this news, Perpetual's share price has dropped 12.5 per cent and shares are trading for 3.5 cents each at 1:18 pm AEST.
ABOUT PERPETUAL RESOURCES
Visit Perpetual Resources Website
Perpetual Resources Limited (ASX: PEC, Perpetual) is focussed explorer of silica sands, striving to produce high purity silica for domestic and international markets.
Perpetual’s flagship asset, the Beharra Project is located 300km north of Perth and is 96km south of the port town of Geraldton in Western Australia. Access to the Project from Geraldton (to the north) and Perth (to the South) is via the sealed Brand Highway, thence the Mt Adams unsealed road providing access to the centre of the tenure.
The port of Geraldton is utilised as a bulk materials handling facility and is currently utilised for the export of bulk materials, minerals and concentrates. Grains, copper concentrates, zinc concentrates, nickel concentrates, mineral sands, talc and iron ore are currently being exported from the port. Extensive heavy mineral sands mining occurs to the south of the Project area, lime sands mining to the west and natural gas production to the south of the Project.
Recent auger drilling has confirmed the presence of extensive, high purity silica sands. Permitting is presently underway to facilitate an extensive drill out of this target. Metallurgical beneficiation test work has confirmed that the Beharra silica can be upgraded to meet the specifications for utilisation in glass manufacturing industries.
Learn More About Perpetual Resources Here
Perpetual Resources Raises $2 million for Beharra Silica Sands Project
- Silica sands explorer Perpetual Resources (PEC) has completed a heavily oversubscribed $2 million placement as sand prices rise off the back of worldwide shortages
- The fresh funding will allow the company to advance its pre-feasibility study at the Beharra Silica Sands project and fast-track its planned definitive feasibility study
- Ultimately, this will help the company capitalise on the strong demand for silica sands in the Asia Pacific and take advantage of rising prices
- Under the placement, around 50 million shares will be issued at four cents
- Directors of the company have subscribed for a combined $150,000, however, this is subject to shareholder approval at an upcoming annual general meeting
- Shares in Perpetual Resources closed 14.3 per cent higher, worth 4.8 cents
Silica sands explorer Perpetual Resources (PEC) has completed a heavily oversubscribed $2 million placement as sand prices rise off the back of worldwide shortages.Perpetual, which is developing the Beharra Sands Project near Geraldton in Western Australia, will use funds from the placement will be used to advance its pre-feasibility study at the site and fast-track its planned definitive feasibility study.
Ultimately, further work at Beharra will help the company capitalise on the strong demand for silica sands in the Asia Pacific and take advantage of rising prices.
Under the placement, about 50 million shares will be issued at four cents.
Company directors have subscribed for a combined $150,000, however, this is subject to shareholder approval at the company's upcoming annual general meeting (AGM).
Perpetual Resources Chairman, Julian Babarczy, said the company remained focussed on advancing the Beharra project.
"This additional capital will allow Perpetual to fast track a number of project-related studies at Beharra and will see us rapidly advance to a decision to fund," he said.
"We remain highly focussed on delivering the Beharra project in a manner that is highly accretive to shareholder value and this raising provides the financial support for this to occur," Julian concluded.
Shares in Perpetual Resources closed 14.3 per cent higher, worth 4.8 cents.
See full article here.
Perpetual Resources signs MOU with Chinese buyer of high-grade silica sand
- Perpetual Resources (PEC) has signed a memorandum of understanding (MOU) with Shandong Yaoguo Solar Science & Technology
- The deal will see Yaoguo potentially buy 250,000 tonnes of high-grade silica sand every year from Perpetual's Beharra Silica Sands Project in WA
- Yaoguo is a China-based buyer of high-grade silica sand to be used for manufacturing glass and glass products in China
- The companies are negotiating product pricing and payment structure terms to enter a binding offtake agreement by no later than June 30, 2021
- Both parties are also exploring the potential for a number of broader offtake and arrangements to distribute silica sand from Beharra throughout China
- Company shares are trading 11.1 per cent higher for 5 cents
Perpetual Resources (PEC) has signed a memorandum of understanding (MOU) with Shandong Yaoguo Solar Science & Technology.
Under the MOU, Yaoguo may purchase 250,000 tonnes of high-grade silica sand every year from Perpetual's Beharra Silica Sands Project in Western Australia.
Yaoguo is based in Shandong, China and is a significant purchaser of high-grade silica sand for use in the manufacture of high-quality glass and specialist glass products in China. It has a specific focus on high-end solar tubes and heating systems.
The China-based company would purchase the silica sand for its own use as well as sell the product, on behalf of Perpetual, to silica sand users in China.
Specifically, the deal contemplates the purchase of 250,000 tonnes per annum of high-grade silica sand from the Beharra Project. It will also see the parties agree on the pricing and payment structure terms for a binding offtake agreement by no later than June 30, 2021.
"We are proud to have concluded this initial MOU with Yaoguo, which is a successful Chinese end-user of high-quality silica sand that they utilise in the manufacture of their high-end glass products and solar tubes," PEC Managing Director Robert Benussi said.
Perpetual expects the MOU will lead to an expanded relationship with Yaoguo, with both parties now exploring the potential for multiple, broader offtake and distribution arrangements for Perpetual's silica sand products into China.
The ASX-lister and Yaoguo are currently negotiating product pricing and payment terms for the agreement. Definitive pricing is subject to the outcome of Perpetual's current metallurgical work program as part of its Beharra pre-feasibility study.
Results from the metallurgical work program are expected in the next few weeks, with end product samples due in November.
Company shares are trading 11.1 per cent higher for 5 cents at 12:46 pm AEDT.
Perpetual Resources (ASX:PEC) spends September quarter advancing Beharra
- During the September quarter, Perpetual Resources (PEC) has further advanced its Western Australian Silica Sand Projects
- The company's main focus was its flagship Beharra Project which lies around 300 kilometres north of Perth
- One highlight for the quarter was the release of a maiden mineral resource estimate for Beharra of 111.3 million tonnes at 98.6 per cent silicon dioxide
- Additionally, a pre-feasibility began at Beharra with aims to improve the economics of the project
- Strong progress has been made with metallurgical testwork beginning on a 2000 kilometre bulk sample
- In terms of finances, Perpetual spent just under $159,000 in the quarter, leaving a cash balance of just over $680,000 and representing 1.8 quarters of funding available
- Despite this, a recent $2 million placement will bolster the company's cash balance
During the September quarter, Perpetual Resources (PEC) further advanced its Western Australian Silica Sand Projects. The company's main focus was its flagship Beharra Project which lies around 300 kilometres north of Perth and covers an area of 49 square kilometres.
Exploration
The Beharra Project
One highlight for the quarter was the release of a maiden mineral resource estimate (MRE) for Beharra which reads 111.3 million tonnes at 98.6 per cent silicon dioxide.
In addition, an exploration target of 8 - 13 million tonnes at a grade of 97 to 99 per cent silicon dioxide was also estimated.
This exploration target was tested in late September as part of the third phase drilling program which aimed to provide information for a maiden resource estimate.
A total of 18 aircore holes were drilled and results are due in November.
The Sargon Sand Project
Perpetual's Sargon Project covers an area of 30.03 square kilometres and it lies 45 kilometres from Geraldton Port.
Other than exploration drilling, Sargon wasn't a primary focus for Perpetual during the quarter.
The company believes work will progress at Sargon once additional information is received and more capacity is available.
Project Development
During the quarter, Perpetual also began a pre-feasibility study (PFS) at Beharra with aims to improve the economics, leading up to a decision to fund the project.
Highly experienced mining industry professional and current Managing Director of Allied Project Developments Matt Robbins was appointed to oversee the PFS.
Strong progress has been made with the PFS, with metallurgical testwork beginning on a 2000 kilometre bulk sample.
Geological services company IHC Robbins will undertake this work and will provide sand quality specifications.
Finances
In terms of finances, Perpetual spent $158,772 with the majority going towards staff costs and administration and corporate costs.
This is a slight increase from the $151,657 spent in the prior corresponding period (pcp).
As of September 30, the company had $680,552 in cash and cash equivalents, representing 1.8 quarters of funding available.
This is almost double the $342,598 from the pcp.
Despite having only 1.8 quarters of funding available, Perpetual's recently completed $2 million placement will bolster its cash balance.
The company has says it will use the funds to advance its PFS and fast-track the planned definitive feasibility study.
Perpetual is down 4.35 per cent on the market with shares trading for 4.4 cents each at 2:55 pm AEDT.
READ THE FULL STORY HERE
Beharra Aircore Drill Results Widen Mineralization
- Perpetual Resources (PEC) has received results from aircore drilling at its Beharra silica sands project in Western Australia
- 32 holes were completed - with 18 drilled to the north of the existing resource and 14 drilled to the south
- Pleasingly, high-grade silica sand and white sand was present in all holes
- Perpetual will use the drilling results to upgrade the inferred mineral resource which currently sits at 11.3 million tonnes at 98.6 per cent silicon dioxide
- This resource will be upgraded to the indicated category which is planned for January next year
- Company shares are up 1.75 per cent and are trading at 5.8 cents
See Full Article Here
Perpetual Resources (ASX:PEC) one step closer to finalising PFS
- Silica sands company Perpetual Resources (PEC) has nearly completed its pre-feasibility study (PFS) for its Beharra project in Western Australia
- Perpetual has completed 94 per cent of its PFS activities, which is expected to be completed by mid-February
- An internal draft of the final PFS document is due to be reviewed and confirmed in the coming weeks
- Additionally, the results from the 2000-kilogram metallurgical testing sample are expected to be released this week
- On the market today, Perpetual is up 6.78 per cent and is trading at 6.3 cents per share
Perpetual Resources (PEC) has nearly completed its pre-feasibility study (PFS) for its Beharra high-grade silica sand project.
The company's flagship asset, Beharra, is located 200 kilometres north of Perth and 96 kilometres south of the port town Geraldton.
Perpetual has completed 94 per cent of its PFS activities, with the detailed documentation going according to plan and expected to be completed by mid-February.
An internal draft of the final PFS document is due to be reviewed and confirmed in the coming weeks.
Perpetual is also pleased to announce that the results from the 2000-kilogram representative sample bulk metallurgical testing program will soon be received, with the announcement expected within the week.
These results will provide a greater understanding of the likely individual high-grade silica sand product streams that will be modelled in the upcoming PFS.
Silica sands have an extensive range of uses, such as construction sand, glass making, LCD screens, optical glass and much more.
On the market today, Perpetual is up 6.78 per cent and is trading at 6.3 cents per share at 2:03 pm AEDT.
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