Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Thumbs up emoji, Dcat!
Have been looking out for news on developments but not seen much recently. Still looking out for it though…
Mesb - something else of interest in the same sector as fodere. Hadn’t even considered the glaringly obvious - less use of energy on tech such as fodere = good ESG credentials.
After fair few updates they’ve been quiet last couple months. Wonder what next for them?
https://www.businesswire.com/news/home/20221011006018/en/Rio-Tinto-partners-with-Government-of-Canada-to-decarbonise-RTFT-and-boost-critical-minerals-processing
Thanks DCat. Obviously a very experienced guy. Maybe they couldn’t say no to the chance to use his knowledge but the more people brought in the more it suggests there’s more to do to commercialise the technology. I’m assuming the main protagonists have other jobs/income but the Fodere venture has been going on quite a while - they surely must want to monetise their efforts soon. Hopefully it’s getting closer to the crescendo. My instinct says the investment here could eventually be a really valuable asset in the Jangada toolkit, just bucketloads of patience required!
Any signs of life for Jangada? Perhaps we are going to sell Pitombeiras to develop that nickel tenement?! Nickel appears to have good prospects...
SAO PAULO, Sept 7 (Reuters) - Brazilian mining company Vale (VALE3.SA) said on Wednesday that global demand for nickel should increase 44% by 2030 compared to that expected for this year, due to high demand for use in batteries that power electric vehicles.
"Demand for nickel is forecast to increase rapidly this decade with the energy transition," the company said in a statement, adding that the new forecast would be of 6.2 million tonnes in demand.
Fodere been recruiting. Another sign things are moving there..
https://www.linkedin.com/posts/fodere-group_its-a-pleasure-to-announce-welcome-mr-stephen-activity-6974207476606902272-XUkl?utm_source=share&utm_medium=member_ios
Brian doesn’t think investors should be updated.
Slightly off topic (although the more I think about It the more I think a tie up somehow between JLP and Fodere makes sense), but JLP’s CEO has just done a short interview on directors talk. Implied their expansion strategy will be revealed quite soon, so worth I think watching out for that. But mainly the reason for the post is to highlight how a short interview that doesn’t reveal much can bolster investor sentiment. Would love a similar simple update from Jangada HQ! Good weekend all.
Interesting. I have a small number of JLP shares but have maybe naively not till now joined the dots in this being part of their (big global) expansion plan. It could be a part I suppose…
Mesb - I’ve also had a look. Kitwe has a few mines although area is largely copper. Both Tio2 and vanadium can be found in some deposits, they’d be waste so left the tailings.
Jubilee are active in the area sort tailings including vanadium. It could be connected to them and their tailings or be completely different tailings. Link to them below
https://jubileemetalsgroup.com/operations/lead-zinc-vanadium/
Thanks. I’ve looked for info on the plant in Zambia to try to see how progressed that is - but so far drawn a blank. But part of me thinks it must be reasonably well progressed for them to start the process to amend the South Africa approval - the consultants are probably not cheap to do on a whim.
Mesb - you need to look table 1.7 in technical report. After separation the tailings go through a desliming and then flotation process with the flotation product Tio2 grade being noted at 42%.
On paper at least it would appear the fodere plant planned at S Africa could manage the grade and throughout required for pitombeiras. It’s also designed/flexible enough for other tricky chemicals found in waste so unlikely to have other processing issues.
I’d be very surprised if fodere tech was incorporated into FS level so soon, although it could be possible testing in a lab or on the small scale plant in Zambia.
More likely proceed with firming up current model to FS. Fodere details either later or done to a PEA level for stage 2 expansion.
Don’t know fodere opex, but they claim to be cheapest process TNG with their tivantech have an opex noted of circa $150 per tonne for a similar process. If you used $150 Against 66k of feedstock that’d be $9.9m additional opex PA. Producing 25k tonnes of pigment grade (98%-99%Tio2) at $3k per tonne would give $75m revenue compared to the $14.5m the Technical report envisages for 66k Ilmenite. Definitely worth some work on…
Dcat, think the Highveld tailings are 32% TiO2 content, so processing 120kt gets to 38t of pigment. Agree it must comfortably support Pitombeiras at that level, but where do you get the 42% figure from for the 66kt, I couldn’t quickly find that?
Anyhow, I’m assuming it’s not possible for the DFS to be based on Fodere’s technology when it is released with the TiO2 to DFS standard. Would be interesting to know how the board plan the sequence of the information flow coming down the line without it becoming a drip feed. Maybe that’s unavoidable and you have to produce the ilmenite first before doing the Fodere processing step anyway, who knows.
Mesb - thanks. Looks like a fodere plant could comfortably handle an operation that produced 66kt per annum of Ilmenite concentrate then (pitombeiras).
Fodere claim to be able to process feedstock with 30% Tio2. The concentrate Jangada envisaged in Technical report was 42% so comfortably over.
We all know I believe the real money will be in the Tio2 and producing a higher grade product circa 98%-99% Tio2 purity. That expectation still alive as a later stage..
Interesting update on the website of the environmental consultants handling Fodere’s planned project in South Africa.
https://savannahsa.com/public-documents/waste/zero-waste-recovery-plant-expansion/
Suggests they are applying to increase the throughput 5x which to my reckoning would mean 120kt of tailings processed per annum. If the comment “ It should be noted that the footprint and workings of the already authorised Anglo African Metals Zero Waste Recovery Solution will remain the same.” can be interpreted to mean the capex investment is not too dissimilar to before, the payback using this technology should be fantastic. I still have not come across any different information to the news article posted before about them investing R280m (around USD20m) for the South Africa project.
I guess we still have to wait to learn if the Fodere technology is going to be of any help processing the ore in Brazil, or if indeed the pilot plant works at all, but think it’s potentially very interesting if Fodere have tweaked the technology to get a bit more throughput.