Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Vidaloca - as an investor I love your confidence - that's just how it should be. BTW - Which year end would you be talking about??
Completely disagree with that last one, just because the stock loses value or even goes bust does not mean that your holding is not an investment.
I have been in this stock since the first day of trading, I have done my research on the company, the assets and the board and on that basis I have built a very substantial holding.
The journey so far has been frustrating and drawn out beyond belief but having said that my faith in this company is still as strong as it has ever been and I am convinced that it will deliver on several fronts.
We are very much alive and once the first deal appears we will go from strength to strength, and I truly believe that will be before year end.
Tapman - my take on where you have gone astray! - firstly, calling this an investment. Companies like this are a pure punt. Nothing more, nothing less. Call your own odds 100/1, 1000/1, 10000/1. You'd have as much chance buying a copy of the Racing Post and using a pin with your eyes closed. Whatever you stick it in, have a punt, even if it's a three legged donkey. Every dog has it's day and so does every horse. The name Foinavon comes to mind. This could be a three legged donkey or with a lot of luck, a Foinavon, but it's never gonna be a Red Rum. I'm quite heavily punting in here, so let's all hope it's a Foinavon. Good luck all!! P S - by the way, I never bet on the horses, far too risky!!
What has TTAU done with my money? What's happened to my investment? TTAU said/claimed/expected it would bring forth positive returns. Am I looking though the wrong eyepiece? I can only see negatives!
Please tell me where I have gone astray.
Not a whisper, not a sniff of anything untoward. Perhaps you were right the other day when you questioned 'why no news?'
But hey, we are just the bag carriers
Not quite, micksnags1, but getting there. Where have all those wonderful exponents of this wonderful company wandered - I wonder!
Wonderful , now completely wiped out
we're just stuck waiting for news, which is very sp**** in coming
Not many of us left janalan. Would sure be good to get some news that reverses the downward trend. Could be a few months of waiting yet though.
Be good to get another update, particularly from Specimen Hill.
Any possible revenue from Whale Head Minerals pushed back until at least Q1 2024.
Hi Guys - anybody there??
Is it tomorrow yet??
Come on Brett - been here for years - got me toast at the ready - where's me Jam??
I wish it hadnt taken this long to show evidence of progress...but I think Brett is making progress. Basically we have a situation which doesn't need further funding but has 3 routes to to generating shareholder value - Speciman Hill, Whalehead and new today Ghana. 3 bites of the cherry , no cash required and just a £3m market cap. Nice set up.
Mr. Brett Boynton, Managing Director – Tectonic Gold Plc
“The team is really encouraged by the recognition for what we have achieved in our research in Australia over the last five years. The Fiddlers Creek endorsement is validation of Tectonics’ courage to pioneer new ideas in exploration and winning the role with Optimus is a Company changing opportunity to take all of that experience into one of the premier gold belts in the world.
Tectonic is still deeply entrenched in research in Australia and is now exporting that expertise to Ghana, with a strong in-country partner who has a genuine desire, and the means, to see a new major gold play created. Ghana, like Australia, has a long and storied gold mining history. Tectonic is bringing expertise directly from the crucible of research and development in Australia, to be a part of the next generation of Ashanti mining stories.
Tectonic is actively reviewing opportunities where we can build a portfolio of holdings in high quality global gold projects.”
Rare earths in heavy mineral sands joint venture
Tectonic holds a 40% economic interest in Whale Head Pty Ltd, a heavy mineral sands mining (“HMS”) project being developed by joint venture partner, AIM quoted Kazera Global Plc (“Kazera”). In July, Kazera announced elevated radioactivity readings in ores beneficiated from alluvial mining of HMS in the Walviskop project in South Africa and as a result the need to engage South Africa’s National Nuclear Regulator. This is worth understanding in more technical detail as the source of the radiation is weakly radioactive thorium, a Rare Earth Element (REE) found in monazite.
The HMS ores at Walviskop include economic concentrations of rutile, zircon, and monazite. Rutile and zircon are widely used with a range of industrial applications. Monazites are less well known, but are rare earth minerals typically comprising thorium, lanthanum and cerium. Lanthanum and its neighbour on the periodic table, cerium, are used in high end lighting applications, think flat screen TVs and iPhones. Thorium is used in heat resistant ceramics and platinum catalytic converters in diesel engines on cars, trucks, ships and trains. The elevated radiation readings in the Kazera testing should be understood as evidence that the ores contain valuable monazites. With China’s recent restrictions on the export of certain REEs, this is a positive outcome for Tectonic.
Ashanti Gold portfolio development lead
Tectonic has been working closely with the principals of Optimus Resources Ltd (“Optimus”) over the last six months reviewing a 1,500km2 tenement portfolio surrounding the lucrative Obuasi and Tarkwa operations within the Ashanti Gold belt in Ghana. Independently verified historic exploration on this portfolio reports immediate resources of over 1 million ounces of gold.
The portfolio has been privately held for over twenty years by a leading Ghanian family office. Their interests span media, insurance, packaging and real estate and the family wishes to now commercialise the gold portfolio, building a vertically integrated gold mining business. Their objective is to have it listed on a major international stock exchange. Tectonic has been engaged to provide technical expertise and a corporate development strategy for the portfolio.
The Company has begun to evaluate, rank and prioritise assets within the portfolio and construct a project development pipeline, commercialisation strategy, identify suitable merger and acquisition opportunities and define a pathway to listing the group on a major exchange.
This program is being fully funded by the owners.
This is an exceptional opportunity for Tectonic to gain access to a tenement package of this scale in one of the most productive geological settings in the world. The Ashanti Gold Belt has been a major source of global gold production for over a century and hosts a number of the largest international mining companies. Tectonics’ key management has experience on the ground in Ghana and companies affiliated with Tectonics’ founding team are already operating in country, servicing these major gold mines. Tectonic is bringing its deep technical research capability, developed with support from the Australian Federal Government and leading Australian exploration and mining research institutions, to contribute to the discovery and development of the next generation of Ghanaian gold mines.
Specimen Hill project farm-out
In August Tectonic finalised terms with Fiddlers Creek Mining Company Pty Ltd (Fiddlers Creek) on an option for Fiddlers Creek to farm-in to a majority position in the Specimen Hill project. Fiddlers Creek is the exploration division of ASX listed White Energy Limited, a corporate vehicle being developed by a highly successful Queensland resources investment group. The terms are as follows:
Stage 1 – an option to acquire 51% at the project level for a cash spend of AU$1 million within 3 years
Stage 2 – an option to acquire a further 25% (76% in total) by spending a further AU$2 million
Stage 3 - Tectonic has the choice of co-funding further development or selling a further 15% to Fiddlers Creek for AU$2 million in cash
The remaining interest may then be converted into a non-diluting 3% royalty.
White Energy has a similar technology approach to Tectonic and has a proprietary ionic geochemistry technique that they will be deploying on Specimen Hill in the second half of August. This advanced testing is highly effective in identifying copper targets at depth and will complement the extensive work Tectonic has already completed on testing the gold in the Specimen Hill system. This will enable a comprehensive understanding of the copper/gold prospectivity of Specimen Hill.
This arrangement brings advanced technology and a successful Queensland based team into the project to complement the work done to date. In addition, it enables Tectonic to retain a significant economic exposure to Specimen Hill without incurring development cost as the project is further de-risked.
R&D update
In July Tectonic received a further $157,000 from the Australian Government under its research and development funding program. Over $3 million has been received from this program to date which has substantially funded the development of exploration technology improving the efficiency of gold resource identification and delineation.
The technology expertise and exploration methodology created through years of rigorous in-field testing at Specimen Hill has generated two significant opportunities.
The data package generated over multiple seasons of field testing at Specimen Hill has attracted a farm-in partner to undertake the continued development of the project. This is discussed in more detail below.
The advanced technical expertise developed over the program attracted the interest of an international gold investor and has resulted in Tectonic being appointed to lead the commercialisation of a large privately held gold portfolio in the world class Ashanti Gold Belt in Ghana. Details of this are provided below.
Expenses in Australia have been significantly reduced and all foreseeable costs will be covered by cash in hand and expected future funding from the Australian Government.
YEAR END CORPORATE UPDATE
Tectonic Gold plc (TDIM: TTAU, is pleased to provide an update on key corporate and operational developments including funding from the Australian Government, partnering with a leading Australian mining group on the ongoing development of the Specimen Hill gold project and an engagement to lead commercialisation of a major gold portfolio in Ghana.
Highlights:
Receipt of R&D funds from Australian Government
Farm-out of Specimen Hill copper/gold project
Commercialisation of privately held gold portfolio in the Ashanti Gold Belt
Rare earths outcome in Heavy Mineral Sands(“HMS”) joint venture
Tectonics’ strategy is to build participation in projects through a transfer of its IP, technology and expertise without having to internally fund project development. Farming out Specimen Hill at the completion of the research program, coupled with an expert advisory engagement to earn an interest in the Ghanaian portfolio is the most efficient way to crystalise value without having to raise additional capital. We are constantly evaluating additional opportunities to build project level interests and over time, a diversified revenue from those interests.
Cheers Boogles - much appreciated. I obviously missed that announcement. Perhaps, at some time, we'll get some SP movement in the other direction.
Extract from 29th March RNS:
“ The half year to December 2022 saw a significant milestone for the Company with the successful completion of our drilling campaign at Specimen Hill. After fires, floods and COVID over the past few years, access to drilling rigs and crew was limited, but we managed to secure a team to complete core testing of the continuity of mineralisation below the old Goldsmith’s Reef mine. Assays returned grades of over 8g/t gold and 5.99 g/t silver at 110 meters down hole, with additional intersections at 240 meters. Goldsmith’s Reef is approximately mid-way along the 4km+ strike that has delivered multiple discoveries for Tectonic between the Main Lodes historic mine in the northeast where we started field work and the Southern Copper discovery in the southwest which is our most recent rediscovery.
With positive gold and copper assays from diamond drilling now confirming continuity of mineralisation, we have been able to extend our database and attract parties into due diligence to discuss a farm out investment into the project. This is well underway and we hope to report progress in the coming weeks. Our objective is to have a well-funded group complete initial resource definition on Specimen Hill with a view to developing it as a copper-gold mining project. Tectonic will utilise all of the experience from Specimen Hill in prosecuting our next project area, Mt Cassidy. This is another textbook IRGS target which has historic workings and drilling. We have conducted our advanced geophysics reconnaissance and identified major structures below the old workings which we expect to see continuity of mineralisation at depth in. We are also in discussion to take our IRGS expertise into international gold exploration opportunities.”
If my memory serves me correctly, back in early December last year it was thought that we must be close to "assay results". Did they ever materialise? If not why has it taken so long?
..
If a permit is required, the application could take between three and nine months whereupon the Company will immediately commence production and sales of the higher value HMS products.
The Company is using this time to undertake more sampling to confirm previous results and continue construction and area preparation for both the plants in Walviskop Bay. This includes the erection of a Trommel screening plant which is under construction by a third party in South Africa and remains on track for completion by the end of September 2023.
Further, the Company is in the process of creating drying, bagging, and loading facilities within a secure area recently supplied to the Company by Alexkor RMC JV. Alexkor RMC JV recognises the value of the project in terms of opportunities for the local community and the Company's increasingly positive and collaborative relationship with Alexkor RMC JV has also resulted in it being provid ed administration buildings, entrance /exit facilit ies and a sheltered and secure workshop facility for the repair, maintenance and storage of the Company's plant and machinery.
The provision of these secure sites and facilities will benefit both the Company's HMS operation and diamond project and should result in significant cost savings going forward.
From Kazera’s rns this morning..
Whale Head Minerals ("WHM") (60% interest) - Heavy Mineral Sands
The Company continues to make good progress on the Heavy Mineral Sands("HMS") project at Walviskop. The pilot plant, which incorporates an HMS circuit and double decker Horizontal Vibrating Screen, was installed in May 2023 and testing has revealed very promising results which the Company has been continually including in process alternatives, whilst also allowing the Company to determine the exact make-up of its HMS and guide its initial thinking on processing plant design.
Samples and test results from the pilot plant have also formed the basis for informed strategic discussions with industry experts and off-take partners on the short and long term potential of the Company's HMS. From these discussions, initial findings suggest that the Company's HMS has a heavy mineral content of approximately 62%, with around 55% of the resources classified as "saleable heavy minerals". Indicative pricing for the basic (unseparated) product is $160 per ton, but by undertaking further separation the price is expected to be approximately double this whilst, importantly, transport costs would remain at the same.
During the Company's testing, several samples were identified to have raised levels of radioactivity resulting from the presence of minerals such as rutile, zircon, and monazite, which typically have a much higher commercial value than ilmenite. Whilst radioactivity in HMS is not an uncommon occurrence, it does mean that the Company has engaged with the National Nuclear Regulator ("NRR") to determine whether any specific permitting is required prior to the production and sale of the Company's HMS products.
To guide this discussion and any possible application for exemption / additional permitting, a comprehensive baseline study of radioactivity has been conducted across all areas of Walviskop, including areas where the Company's HMS will be stored, processed, and transported. In addition, a Workers Safety Report and Operating Procedures are being compiled by a third party and should be completed by mid-August 2023 at the latest.