PYX Resources: Achieving volume and diversification milestones. Watch the video here.
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Https://twitter.com/bobbyoflondon/status/1689172781559078912/photo/1
The space is warming up https://t.co/MxsSnlw1pn
Another step forward
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"I am very pleased about our successful raise of £470,000, which will allow us to finalise the PEA for publication in September, and further progress the work programme and planning for the development of the Amitsoq graphite deposit towards production.
Sure.... items in the process such as DFS... just positive steps needed taking things forward...SAV have just put in for a fund raise.... hopefully these limited resources will pay off in time.
GLS
A way off funding yet. The normal stages of mine development go from discovery to JORC, to PEA (aimed to be published shortly for GROC), to Preliminary Feasibility Study, to Definitive Feasibility Study, to investment / fund raise, to construction, to commissioning, to production, and finally to decommissioning and disposal.
All the stages cost money, only production creates income although each of the development stages potentially adds value to the asset. They have raised funds today to complete the PEA, assuming that all looks ok they will likely plan to raise money for the feasibility studies. Only after the DFS will the full mine economics be clear, and an NPV calculated making the mine investable or not. Obviously the early signs here are good, a great resource is a great start point, but to secure construction investment a lot more work has to be done.
Obviously that all assumes that GROC are going to try and develop the mine themselves. Perhaps a better outcome for current investors would be a bid from a major looking for a graphite development asset. The PEA is the first tangible document that would enable a meaningful bid to be made. The offtaker(s) giving an indication of offtake price and quality would be a key component of a PEa.
Yep , also existing shareholders. All positive. ATB
"The raise was undertaken at 3.8p which is our current share price and I take that as yet another sign of strong support and belief in our Amitsoq project."
GreenRoc's CEO, Stefan Bernstein, commented:
"I am very pleased about our successful raise of £470,000, which will allow us to finalise the PEA for publication in September, and further progress the work programme and planning for the development of the Amitsoq graphite deposit towards production.
"We are grateful for the participation in the placing of Alba Mineral Resources Plc and other existing shareholders of GreenRoc, which we take as a confirmation of the strength of their continuing belief in the fundamentals of GreenRoc and our world-class Amitsoq project.
"The raise was undertaken at 3.8p which is our current share price and I take that as yet another sign of strong support and belief in our Amitsoq project.
"I am also excited to supply a 200kg sample of Amitsoq graphite ore for test runs using FLSmidth's new REFLUXTM technologies. These REFLUXTM cells are newly developed and have shown to vastly improve recovery rates while reducing ore processing time, power and water consumption, capital and running costs and space needs for several different ore types. Positive results from this test will be very helpful in delineating the right processing technique at Amitsoq."
Https://www.mining.com/graphite-troubles-is-now-the-time-to-buy/
Eramet says it secured $400 million lithium deal with Glencore
Lithium no good without Graphite
Well is seems like we are making some progress here hopefully an announcement to come on funding coming in / JV...
GLA
My favourite is conveniently sandwiched in between here "ranging from anode and battery manufacturers to car makers and raw material traders." "Car makers" Plural.
"....... GreenRoc has supported a master's thesis at the University of Bologna, Italy, on the origins of Amitsoq graphite ore. The thesis, which demonstrates that the remarkable grade and consistency of grade of the ore bodies at Amitsoq is related to metamorphic fluids with a biotic carbon source, will be presented by the author Giacomo Fratelli at the Society of Economic Geologists 2023 Conference entitled "Resourcing the Green Transition" to be held in London next month."
With one potential offtake partner testing the material we may now see others speed up their interest in Amistoq for fear of missing out on this world class asset, this can only be a very positive step
Potential off taker !
GreenRoc's CEO, Stefan Bernstein, commented:
"I am happy to report progress on the many fronts needed to advance a project like Amitsoq through the development stages. We believe that the fact that a potential off-taking company has requested material for its own testwork demonstrates that our work on marketing Amitsoq to a broad range of major industry players is starting to bear fruit. To this end, further graphite concentrate material will soon be available from our bulk sample collected at Amitsoq last autumn.
"With the team of biologists from BioApp visiting Amitsoq in early August, we will have completed the main field sampling programme of the EIA, which is an important milestone to have reached. Similarly important is the submission of the Terms of Reference of the SIA to the Ministry of Mineral Resources in Greenland, which essentially marks the beginning of the negotiation process with the Government of Greenland towards exploitation permitting.
"The PEA work is in full swing and will be reported in September. This is anticipated to demonstrate how feasible and profitable a mining operation at Amitsoq may be and will be extremely important for discussions with potential project partners, ranging from anode and battery manufacturers to car makers and raw material traders."
Highlights
- Potential off-take customer for Amitsoq has requested graphite concentrate and spheronised graphite samples in order to conduct its own testwork.
- 700kg bulk sample of graphite ore nearing the final stages of separation at process engineering contractors UVR-FIA.
- Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) work progressing well with both studies remaining on track for delivery in 2024:
o Further ecological fieldwork scheduled for this August.
o Draft SIA Terms of Reference submitted for comment to Greenlandic Ministry of Mineral Resources.
- Preliminary Economic Assessment (PEA), being conducted by SLR, advancing as planned with expected delivery this autumn.
- CEO visit to Amitsoq completed in July to supervise bathymetric survey over possible location for Amitsoq tailings storage facility (TSF).
- Geological Survey of Denmark and Greenland (GEUS) has delivered a detailed study testifying to the uniformity of the Amitsoq ore.
Great long-term hold.
Expecting another raise soon though, cash is running low.
I am *guessing* an update on Greenland is due very soon.
Nice to see it ticking up today.
Confirmed:
https://www.bbc.co.uk/news/business-66237935
What do we have within our low market cap £6.5m as a flagship project?
We have nearly 5 million tons of graphite carbon in one of the highest grade graphite deposits in the world!
It's not just all about EVs of course as solar and wind need to store the electric in Battery Storage Systems and in the West we need diversification of supply ex China and Indonesia (who will probably need trade to be settled in Gold soon enough...and we don't have it)!
https://www.kitco.com/news/video/show/Fastmarkets-Lithium-Supply-and-Battery-Raw-Materials/4572/2023-07-07/Graphite-is-the-under-covered-critical-mineral---Fastmarkets-William-Adams#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DFastmarkets-Lithium-Supply-and-Battery-Raw-Materials
Got rather bored with ALBA and sold up didnt i :( back in again GROC is a long term hold with BRES
more news soon i hope