Looks like anthracite may not be as scarce as we are led to believe - Notice from Hot Copper via email
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Column 1 0 ASX Miner Snags Ultra High Grade Anthracite Project in South Africa
Following the $3.7 million acquisition of its anthracite Project from mining giant Rio Tinto, and the release of a PFS ahead of schedule to the market, one ASX listed junior is now aiming to build serious value into its anthracite assets.
The company is in a good position to further its anthracite ambitions, being led by the management team that founded Riversdale Mining – later acquired for $3.9 Billion by Rio Tinto.
The company is looking to leverage a unique fundamental supply/demand profile in South Africa, where world leading industries such as mineral sands and ferrochrome are all dependent on high quality anthracite supply.
With a BFS slated for completion by the end of the year, which should include maiden reserves and a likely increase in resources, the company is looking to propel its AU$8 million micro-cap in a market niche saturated with opportunity.[/table]
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Column 1 0 WOULD YOU LIKE TO KNOW MORE? [/table][/table][/table]
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Column 1 0 This ASX company has already secured a non-binding off-take agreement with the world’s largest producer of ferrochrome to buy all of the project’s output.
Further discussions are also taking place with regards to binding offtake agreements and funding options.
The information in this email should not be the only trigger for your investment decision. Click on the link below for a more in-depth and informed examination of the company. We strongly recommend you seek professional financial advice whenever making financial investment decisions.
This company is currently at the beginning of developing a multi-million tonne project, and is on the cusp of generating early sales revenues later this year.
If all goes to plan, it looks like this company could take a stronghold in the domestic anthracite market, with an eye to global supply.
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