Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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My enthusiasm running ahead of me! I did once understand the difference between 62%/65% etc. some months ago but the thing’s gone on so long now I’ve forgotten all that research!
91% is the recovery, not the purity.
Does raise an interesting point i’d not considered though. if fodere process splits the minerals, does it take out the other contaminants in the iron oxide concentrate & thus increase the iron content? Pure fe203 would be circa 70% fe content, that’d get a huge premium to std 62% fe pricing. I honestly have no idea on that regard, could be a nice bonus & definitely more attractive to offtakers.
Lots of questions, but at sub £10m market cap (still) I’ve scanned this morning down all the smaller companies listed on LSE and I don’t spot one I’d rather be invested in despite the unknowns.
I’m guessing having some 91% iron oxide will be easier to raise offtake money for too, if that’s the main pricing environment that funding is hooked onto?
BF - too many variables to be sure, but if large enough fodere plant can be built for both concentrates and it’s high purity vanadium and tio2 produced then my estimate could be extra $30m pa post tax. Really need more info. Definitely exciting though
Thanks Dcat, I was delighted by that update. In terms of extra annual profit, do you see it in the 20-30 million dollars ballpark?
Hey Mesb, of the regular posters here I thought you’d be happiest to finally see something on
Fodere.
Expected use of their tech has been cornerstone of my reason for investing to position I have and as a long term hold, frustrating it’s taken this long for company to discuss it, however I suspect there was caution before any testing was done and that testing required the pilot plant based in kitwe.
Was happy to see we’ve the rights for S America, something we speculated on after the ex-Tronox guy invested in fodere last year and not the rights for N America. Would hardly have been fair for Jangada not to have S America rights as part of investing when we were earlier holder!
Not sure at what stage the fodere tech might be applied, suspect that will form part of the bulk sampling. Does the existing flow sheet stay with material only then put through fodere plant? Can we bin off the wet separation part of the process which added capex, opex and lowered recovery from the initial PEA & apply fodere plant after just a dry process? Will fodere be used on both the non-magnetic (tio2), just the magnetic (vanadium/iron) or the 2 separate post separation piles?
I’ve no doubt that fodere tech will significantly increase/improve the economics.
At the moment we only get 25% credit for the vanadium & the 2 stage process lowered recovery of that.
The Ilmenite concentrate at 42% grade has a sale price of $220 per tonne. 99% purity tio2 has a sale price of nearer $3k.
Lot of value still available which fodere tech should unlock, hopefully things will soon start falling more into place and the excitement we have will spread!
Surprised there’s still a 3 before the share price so after reflecting on it just bitten the bullet and added some.
Have been annoyed for a while about the BRES investment, not because it’s a bad company but because it cast doubt in my mind about whether the investment in Fodere was truly strategic. This RNS has dispelled that doubt, and the info on the rights in South America is great new info in my mind.
I take the references back to the 100% IRR project etc. with a pinch of salt because those financials now seem largely redundant if that project is not proceeding as previously envisaged. But I’m struggling to see how the next set of financials, when they eventually do come out, will not be attractive. Frustrating that really for the last 2 years we seem to have basically trod water, but what comes now could be miles better than what we might otherwise have had.
As an aside, I keep thinking about Tronox Brasil (not wholly owned by Tronox) who per their latest accounts still have not identified a new local resource given supplies from their end of life mine are about to run out.
@amin0406
I hope you realise my reply was somewhat tongue-in-cheek :)
Like I said yesterday, it's gonna take something special to get this really moving but today's RNS is a welcome update.
Thank you Brian! And swizz is alive and well!
Good news at last. I might re look at it now.
But still a long way. Testing, new process funding.
Best news in long time. Wish they did this earlier
don't be so impatient? , i was in the placing at 12p!!!!!!!!!!!!!!!!!!!!!!!
Don't be so impatient.
If the we get top results from the 25ton sample, it could burst it's way to 4p!
;)
Why is the sp still 3.5p ?
Should get separate vanadium product using fodere tech. 100% vanadium credit rather than just 25% that we get in the concentrate.
Also note we’ve exclusive rights to the tech in S America. When the ex Tronox guy joined last year and got N America rights I did post saying hoped we’d get S America as part of our strategic investment.
I’m in the office today so can’t post much until after work. Will out something more coherent together then
"100.3% post-tax Internal Rate of Return, a US$96.5 million post-tax Net Present Value (8% discount rate), a US$145.9 million post-tax undiscounted operating cash flow, and a 13-month payback" Drops mike,and waks off stage....!.
It’s what I’ve been wanting to see for years. Definitely game changer.
As reminder of how new tech such as fodere can affect economics I’d suggest people watch the presentation below on alternative tivan tech. Can skip to 4 minutes 20 seconds in and watch for 5 minutes.
https://www.youtube.com/embed/r1BZ39B-p-o
A game changer?..it certainly has all of the ingredients to be considered so and perhaps the most material news in last 18 months or more,..GL S
RNS
Pitombeiras Update
Successful Extraction of Titanium Dioxide & Vanadium Pentoxide
Jangada Mines plc, a natural resources development company with interests in Brazil and elsewhere, is pleased to announce that it has received positive test results regarding the extraction of high-grade titanium dioxide ('TiO2') and vanadium pentoxide ('V2O5') from its Pitombeiras vanadium titanomagnetite ('VTM') project in Brazil ('Pitombeiras' or 'the Project').
The tests were carried out by Zambian consulting firm, YCS Sustainable Solutions Limited, utilising the proprietary technology developed by Fodere Titanium Limited ('Fodere'), in which Jangada holds a 7.7% interest. The work is part of the Company's strategy to optimise the value of the Project by applying innovative processing technology while also improving its Environmental, Social and Governance ('ESG') credentials.
By working closely with Fodere, the Board recognised that its sustainable technology, initially developed to treat low-grade and complex titanium-bearing feedstock, could be applied to and improve the economic potential of Pitombeiras. The highly energy efficient technology maximises resource recovery, improves processing effectiveness, reduces costs compared to regular processing routes and importantly, minimises waste improving environmental credentials and enhancing ESG performance.
Five samples, delivered by Jangada from various locations at Pitombeiras, were crushed, ****genised, and milled. The samples were then subjected to magnetic separation. Preliminary test works concentrated the Fe2O3, TiO2 and V2O5 with all upgrading well and excellent recovery and purity rates reported, the highest recovery rates being 86.73% TiO2, 91.19% Fe2O3, and 95.88% V2O5.
With the adaptation of Fodere's technology to successfully process ore from Pitombeiras, Jangada is now preparing 25 tonnes of material to be tested on a larger scale in order to finalise a commercial flowsheet and provide in-depth economics for a Preliminary Economic Assessment ('PEA') focussed on the extraction of TiO2, V2O5 from Pitombeiras utilising Fodere's technology. This is anticipated to improve the already robust economic studies carried out on Pitombeiras that were announced on 21 April 2022 with headline figures of 100.3% post-tax Internal Rate of Return, a US$96.5 million post-tax Net Present Value (8% discount rate), a US$145.9 million post-tax undiscounted operating cash flow, and a 13-month payback.
The Company remains focused on commodities that are critical in the energy transition and drive the
circular economy. The strategic investment in Fodere was enacted as it represented an opportunity to capitalise on a new environmentally improved solution that extracted TiO2 and V2O5, two of the three major mineral components of the Company's Pitombeiras project. The Board believes that these test results have vindicated its investment decision. Importantly, J
Hoping so...
It's been nearly a year since the SP crushing technical report was released and despite the interviews, q&a and later 'revised' presentation, this stock has remained stubbornly suppressed and stagnant.
It's gonna need to be a humdinger of an RNS to get this sloth moving!
For resurrections.
NT to buy for a while now and looks like little stock available above current ask.. Hopefully fortunes of us holders will start to revive soon.
Hopefully news on pitombieras offtake soon with otter deals having been done in recent months.
New project/s news also expected soon.
Plus the investments both Bres and Fodere should be progressing with their own respective updates soon..
Oh ok. Sounds great.
What do you mean? Brian is the lender, getting a 30% interest rate on a highly risky loan (BUT, which is secured against the facility).
It's incredibly opportunistic from Brian and probably a reflection of the state of the cannabis market. I can't see any read across to JAN, but it points towards his firepower/wealth.
Why would Brian agree to that?
hTTps://twitter.com/StarDestr0yer/status/1622386553069907968