Venmyn gave fair value of USD 967m to Araxá, page-36

Disclosure: S3 Consortium Pty Ltd (the Company) and Associated Entities own 24,900,000 SGQ shares at the time of publishing this article. The Company has been engaged by SGQ to share our commentary on the progress of our Investment in SGQ over time. Some shares are subject to shareholder approval.Near the top of every “critical minerals list” sits one metal...Niobium.Market money is still flowing into niobium stocks and rewarding niobium discoveries.We think this is because the supply of niobium is dominated by one single mine in Brazil that produces 80% of global niobium supply.Yes, 80% of global supply in one company.And it is privately owned.St George Mining Ltd (ASX:SGQ) just announced the acquisition of a niobium and rare earths project right next door to this niobium mine that supplies 80% of the global niobium market.SGQ’s new project has an existing niobium discovery, and post acquisition SGQ will be capped at $55M (based on 2.5c transaction share price). At that time SGQ will hold ~ $7.5M in cash.On the ASX, we have recently witnessed large inflows of capital towards quality new niobium discoveries in Western Australia:WA1 Resources grew from a $9M microcap explorer to over $1BN in the space of two years, on the back of a new niobium discovery in WA.Encounter Resources went up 300% off the back of announcing a niobium discovery in WA, it is now capped at ~$248M.The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.SGQ’s project already has a proven discovery, and it is right next door to the world’s biggest niobium mine.To date, there have been over 500 drill holes on SGQ’s project that have hit significant intercepts of over 1% niobium oxide, with some hits as high as 8%.The mineralisation is from surface, widespread, and open in all directions.Looking next door, the carbonatite that hosts the niobium is confirmed to depths of 800m, but SGQ’s project has not seen much drilling any deeper than 50m.