CLE cyclone metals limited
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Hm non binding MOU still etc...

  1. mhkforevermci
    3,305 Posts.
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    17/12/24
    14:35
    Post #: 77087874
    Hm non binding MOU still etc thanks

    https://**promotion blocked**/resources/resources-top-5-vale-deal-stirs-the-iron-bear-for-cyclone-metals

    Share price in need of a bit of revitalisation? A deal with one of the world’s largest mining companies will do it.

    $20 million-capped minnow Cyclone has risen from a share consolidation and emerged straight into news of an MoU with the mining behemoth Vale, a Brazilian major trading at around US$45 billion.

    The mining giant sits only behind in the ranks of the world’s top iron ore exporters by volume, having previously laid claim to the title of numero uno before the deadly Brumadinho dam disaster in January 2019 saw it rein in production to conduct safety tests across its sites.

    Vale’s competitive advantage is the range of markets it plays in. While the Pilbara iron ore producers typically ship cheap to produce hematite DSO that grades 62% Fe and increasingly below that into discount product range, Vale is the world’s largest purveyor of high-grade iron ore products.

    That includes hematite exports that grade at the premium 65% Fe benchmark, material used to blend into a 62% Fe feedstock in Asian steel mills.

    Vale is one of the world’s largest iron ore producers. Pic: Vale

    But it is also one of a handful of producers of even purer DR grade pellets, a product which is essential for use in low emissions direct reduction steel plants. Vale thinks the undersupply of high-grade iron ore could hit some 70 million tonnes by 2030, informing its search for more material.

    Iron Bear is, potentially, one of those sources, with testwork showing it can make a DR grade product from the 16.6Bt at 29.3% fe magnetite resource in Canada’s Labrador region, down the road from Bloom Lake project.

    The first phase of the MoU will see Vale tip US$18m in to complete, among other things, a pre-feasibility study. A second phase would see it ramp up to 30% interest in a JV and then 75% after a decision to mine or US$120m spend. There are provisions after for Vale to potentially take out the whole project at market rates.

    The MoU remains non-binding, with CLE hopeful of completing a formal agreement within 90 days.

    “Vale is a powerhouse for the production of ultra clean iron ore products which includes DR pellets and their proprietary cold briquettes,” CLE CEO Paul Berend said.

    “They are an ideal partner for us, and we look forward to leveraging Vale’s extensive operational and financial resources to realise the full potential of Iron Bear.”

    Bulk samples of DR and BF concentrates will be made available to steelmakers in Q4 this year, with pellets to be sent for sampling in Q2 2025.

    Vale is already familiar with Canada as the owner of the world class Voisey’s Bay and Sudbury nickel fields.


    https://hotcopper.com.au/data/attachments/6682/6682530-bbcab4f7b57a7be51ef4e2fef7b08232.jpg
    https://hotcopper.com.au/data/attachments/6682/6682534-3afd290119d81075cfa2bd0ca288d94c.jpg
    https://hotcopper.com.au/data/attachments/6682/6682540-239e3e0e0cfab79ffb536ab1b6b81273.jpg
    https://hotcopper.com.au/data/attachments/6682/6682547-0d5381c0a53933f2f3c3226fe93fb61d.jpg

    CLE Price at posting: 4.9¢ Sentiment: Hold Disclosure: Held
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