This chart shows the price per mtu (10kg) of APT (Ammoniumparatungstate) in Australia dollars
Almonty Industries Inc. Announces That It Has Signed a Ten Year Off-Take Agreement with a Guaranteed Minimum Value CDN$500,000,000 for Its Wholly-Owned Sangdong Tungsten Mine in South Korea
March 13, BusinessWire
Almonty Industries Inc. (“Almonty” or the “Company”) (TSX-V: AII) is pleased to announce that it has entered into a new off-take agreement dated March 12, 2018, (the “Off-Take Agreement”) with an existing customer (the “Customer”) for the tungsten concentrate to be mined and processed at the Company’s wholly-owned Sangdong Tungsten Mine in South Korea. The agreement has a term of 10 years and, based upon current pricing models and, subject to the terms and conditions of the agreement, the agreement calls for guaranteed revenues for the Company for a minimum of CDN$500,000,000.
March 9, Bloomberg
China is cracking down on pollution like never before, with new green policies so hard-hitting and extensive they can be felt across the world, transforming everything from electric vehicle demand to commodities markets.
Four decades of breakneck economic growth turned China into the world’s biggest carbon emitter. But now the government is trying to change that without damaging the economy—and perhaps even use its green policies to become a leader in technological innovation. So, as lawmakers attend the annual National People’s Congress, here’s a look at the impact of the environmental focus, at home and abroad.
November 22, Auto Blog
Cobalt and tungsten key to cheaper, cleaner hydrogen
October 30, 2017 - Science Daily
Electrolysis, splitting the water molecule with electricity, is the cleanest way to obtain hydrogen, a clean and renewable fuel. Now, researchers at ICIQ and URV, led by Prof. José Ramón Galán-Mascarós, designed a new catalyst that reduces the cost of electrolytic hydrogen production. Catalysts reduce the amount of electricity needed to break the chemical bonds, speed up the reaction and minimise the energy waste...
November 25, 2016 - Kurzweil News
April 28, 2017 - NC State News
May 2, 2017 - Microscopy and Analysis
This new battery tech breakthrough could mean even faster electric vehicles
May 1, 2017 - BGR
Electric vehicles have a few key advantages over traditional combustion-powered cars, and one of the biggest is the potential for extreme acceleration. The Tesla Model S, for example, can go from a standing stop to 60 mph in as little as 2.3 seconds, beating out cars with badges reading Ferrari, Lamborghini, McLaren, and Porsche. Now, thanks to a new breakthrough in battery technology developed by researchers at North Carolina State University, electric cars could become even faster, which is actually somewhat terrifying to think about...
Maiden RC drill program successfully intersected gold mineralisation below extensive hard rock artisanal mining activity (it is estimated that over 20,000 miners were active). These results indicate why the gold mineralisation was the focus for so many miners along the Bella Tondi Structure. Gold grades of up to 36.5 g/t Au returned along strike with multiple zones of gold mineralisation including:
- BTRC022B: 2m @ 13.1 g/t Au from 83m
- BTRC005B: 8m @ 10.3 g/t Au from 62m including 2m @ 36.5g/t Au from 62m
- BTRC029: 15m @ 3.1 g/t Au from 56m, ending in mineralisation
- BTRC008: 2m @ 3.5 g/t Au from 18m
- BTRC008: 2m @ 3.4 g/t Au from 40m
- BTRC026: 8m @ 2.9 g/t Au from 46m
- BTRC013: 4m @ 1.4 g/t Au from 6m
- BTRC009: 6m @ 1.1 g/t Au from 8m
- BTRC016: 10m @ 1.0 g/t Au from 22m
High-grade gold intervals below artisanal workings are reported at depths between 50m to 60m below surface. Gold mineralisation remains open at depth and along strike. Visible gold has been panned from RC drill cuttings in four holes with results pending from these deeper holes drilled below artisanal workings.
Advanced exploration completed by SUMMA on several prospects approximately 5km to the west of Balla Tondi reported high-grade gold intercepts returned from limited diamond drilling in 2016:
- 17.9m @ 7.92 g/t Au from 57.2m
- 1.6m @ 16.58 g/t Au from 63.7m
- 7.1m @ 2.73 g/t Au from 16m
- 5.8m @ 2.60 g/t Au from 45.8m
- 4.1m @ 3.20 g/t Au from 77m
Based on solid exploration
The Watershed tungsten deposit was discovered and explored by Utah Development Company Limited (“Utah”) in the early 1980’s with limited further work conducted by Peko-Wallsend Operations Limited – Geopeko Division (“Geopeko”) in the mid-1980’s. Vital acquired the project in 2005 and has been investigating the deposit since that time.
The deposit has been defined by more than 326 drill holes for over 54km of predominately diamond drilling. Mineralization has been encountered over a strike length of approximately 1500m and down dip to 450m. The deposit is open at depth and along strike.
World class resource
The Watershed Deposit ranks among the 10 largest unexploited non-Chinese tungsten deposits worldwide. This JORC (2004) compliant resource model has been classified using JORC Code and Guidelines and Measured, Indicated and Inferred Resources total 49.2 million tonnes of ore at 0.14% WO3 for 70,400 tonnes WO3 (7.04 million metric tonnes units – mtus) at a 0.05% WO3 cut-off.
The Watershed projects holds all the required permits and agreements, allowing immediate start of construction: Mining Leases – ML, Environmental Authority – EA, Native Title Agreement – ILUA, Agreements with pastoral landholders.
Completed positive DFS
A Definitive Feasibility Study (DFS) was completed by Vital with very positive outcome in 2014. A 2.5Mt ore per year mining and processing operation is supported by strong economics and a mineral reserve of 21.3Mt of ore grading 0.15% WO3 (31,400 tonnes of contained WO3) over a mine life of 10 years.
Excellent exploration opportunities
The Watershed resource is open to depth as well as along strike with high grade drill intercepts known below the current open pit design as well as in close proximity to south of the deposit. This provides great opportunities to extend the life of the Watershed project through future underground or satellite open pit operations.
- 4th largest gold producer in Africa
- 7 gold mines commissioned since 2007
- Exceptional geological potential – still underexplored with significant potential for growth in gold resources
- Mining friendly Government
- Kollo Gold project
- Boungou South Gold prospect
- Zinc projects
Vital Metals’ Aue Exploration Permit is prospective for underground tungsten, tin, cobalt, silver, zinc, indium, gold and uranium mineralisation. It is located in the western Erzgebirge region which is in the heart of one of Europe’s most famous mining regions and is surrounded by several world-class mineral fields within a radius of less than 20km.
This permit is a very attractive addition to Vital’s exploration portfolio:
- Potential to host battery metals – cobalt was historically produced from biconi-(Ag-U) at Schneeberg, which is located less than 3km northwest of the Aue permit;
- High potential for technology metals – tungsten mineralisation has been sampled and mapped from underground adits and drill core;
- Preliminary metallurgical testwork showed WO3 recoveries of around 85% for concentrates containing around 60% WO3;
- Extensive geological data package;
- Supportive Government for strategic metals mining projects.
The permit is located in the southwestern part of the Federal State of Saxony within the western Erzgebirge – which literally translates into “Ore Mountains”. This area is one of the most renowned historical metal mining districts in Germany with a 800 year long history of silver, tin, cobalt, uranium and base metal exploitation.
Cobalt was historically produced from biconi-(Ag-U) veins hosting cobalt and nickel arsenides (skutterudite, rammelsbergite) and native bismuth at Schneeberg, which is located northwest of the Aue permit. Schneeberg produced 12,000 tonnes of Co+Ni from mainly hand-picked ore from the 16th Century to the cease of production in about 1937. The southeast corner of the Aue permit hosted small-scale mining on sulphide lenses of the type mined at Schneeberg during this period.
The “Aue” permit is situated within one of the most prospective areas of the Erzgebirge, in between the famous Schneeberg-Schlema Ag-U district to the north, the Ehrenfriedersdorf-Geyer Sn-W district to the east and the Breitenbrunn-Pöhla Sn-W-base metal district to the south.
The permit is located right within the major Gera-Jáchymov fault zone, the controlling structure for the major mineral deposits in the western Erzgebirge. Rock units comprise Palaeozoic to Neoproterozoic metamorphosed sedimentary and igneous rocks, intruded by Carboniferous (Variscan) granitoids. The Jáchymov Group of sediments in the south of the area is known for skarn mineralisation containing tungsten, tin, zinc, indium and iron.
Vitals main focus will be the Bernsbach-NW area in the northeast of the permit area. The Bernsbach-NW area is a vein-swarm tungsten target with quartz-wolframite veins. The veins were discovered in the late 1940’s during uranium exploration work. Surface and shallow underground exploration carried out by a branch of the East German Geological Survey for tungsten took place during the 1950’s and early 1960’s (named Aue-Bärengrund and Aue-Lauter at this stage). Underground channel samples yielded up to 21% WO3 across veins usually around 1m wide. Preliminary metallurgical testwork carried out at this stage indicated recoveries of 80% for concentrates containing 60% WO3.
Exploration focus in the area changed again to uranium from the mid-1960s to the 1980’s (carried out by the Soviet-German SDAG Wismut), but wide spaced diamond drilling in the area repeatedly intersected tungsten mineralisation at depth. Resource potential estimates (“prognostic resources”)1 range from 2,500t WO3 made in the early years of exploration over 20,000t WO3 in 1978 to 68,000t WO3 last published in 2008.
The permit area holds further tin, tungsten and base metal prospects, which have been partially drill tested by the SDAG Wismut. Vital will progressively expand work to these prospect areas and will also include regional exploration into it’s work program, as the area holds excellent potential for new discoveries.
David Macoboy Non-Executive Chairman
Mr Macoboy holds a Bachelor of Economics and a Bachelor of Commerce from the University of WA. David is a Certified Practicing Accountant. He is a former Chairman of Ammtec Limited, AVZ Minerals Limited and Territory Resources Ltd and has served on numerous other boards. He has not held any directorships of other listed companies in the past three years.
The Directors and Management of the Company believe Mr Macoboy’s cross-industry experience, especially in the areas of corporate strategy, finance, treasury, risk management and international fund raising, are skills needed to ensure the company’s projects are appropriately funded and promoted.
Mark Strizek – BSc, MAusIMM Managing Director
Mark Strizek is a qualified geologist with over 19 years’ experience in the mining industry and is Member of the Australasian Institute of Mining and Metallurgy. Mark’s career began in the Yilgarn in Western Australia in gold. He has experience in mining and exploration and has also worked as a resource consulting geologist. Prior to joining Vital he was involved in project development of mineral, coal and petroleum resources in both Australia and Papua New Guinea.
Andrew V Simpson – Grad. Dip. Bus (Curtin), MAICD Non-Executive Director
Mr Simpson holds a Graduate Diploma in Business and Administration (majoring in Marketing and Finance) from Curtin University and is currently the Managing Director and Principal of Resource and Technology Marketing Services Pty Ltd (RTM) in Perth.
He formed RTM in 1999 to specialise in strategic and business planning, resource project assessment and marketing. RTM is recognised as one of Australia’s leading market research consultants to the international mining industry.
Mr Simpson is non-executive Chairman of Swick Mining Services Ltd. He is past Chairman of Territory Resources Ltd and India Resources Ltd. Mr Simpson is a Member of the Australian Institute of Company Directors.
Peter G Cordin – B.Eng (Civil) (UWA), F.AusIMM, MIEA Non-Executive Director
Mr Cordin is a civil engineer with over 35 years experience in the evaluation and operation of resource projects within Australia and overseas. He is the former Non-Executive Chairman of Dragon Mining Limited an Australian listed company with gold mines in Sweden and Finland. He has direct experience in the management of diamond and gold operations and has been involved in the development of resource projects in Kazakhstan and New Caledonia.
Mr Cordin is also a non-executive director of Coal of Africa Limited and Aurora Minerals Limited.
Francis Harper LLB (Hons) BEc Non-Executive Director
Mr Harper is a lawyer and has been a director of Blackwood Capital since 2002 and prior to that spent 15 years with NM Rothschild in the US, UK and Australia in M&A and resources finance. Blackwood Capital has raised over $1 billion for small caps since inception. Mr Harper (through Blackwood) financed West African Resources (WAF) and was chairman from 2009 to 2015.