Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Find Fridays interview.
Note the part where Jason says that offtake is due to be signed early next week. That offtake for 100% of the Lithium.
He also says that the byproducts will more than cover the mining costs.
5000T a month of SC6 worth $1000/t for zero mining costs. And the whole plant and mine cost under $10m
♣ Last quarter the 2-phase drilling program was expanded to include a further 3-holes, and we completed the expanded 21-hole Phase 1 drilling program had been completed for a total of 1,026.37m on a 25m x 50m drill spacing pattern last quarter and commenced work on the Phase 2 drilling program, which is being completed on a 25m x 25m drill spacing pattern, with the program to be completed in the next 3 weeks or so
3) Previous RNS confirm the funding but do not go into detail on the finer points or the arrangements. Could you possibly clarify this point as funding is everyone's question with all companies we discuss in here.
♣ Incorrect the RNS was very specific on the tranches of funding, the overall quantum, the number of shares and against what specific milestone it can be drawn against
♣ Subsequent RNS have also clarified this – the processing plant and equipment purchases for example confirmed that this fell under the Q Global funding
Again hope that this is clear on the processs and plans
************************
Back 14th december 2023 the first Ore sorter was installed and commissioned
https://ibb.co/80J5FT6
Plant optimisation continued through january as the Ore sorter must learn the Ai. 89% recovery reported - above the 80% planned.
https://ibb.co/GQr28Qc
February the 7th and new jaw crusher arrives
https://ibb.co/pbWL5qM
The CEO tweets this:
"Further to the arrival of the new McCloskey jaw crusher, new Bell B25E ADT, Kobelco SK520XLDLC-10 excavator, JCB467ZX wheel loader and the sensor based Tomra COM XRT 1200 ore sorter, are scheduled to be delivered and commissioned"
McCloskey jaw crusher
https://ibb.co/R9x65nK
Bell B25E ADT
https://ibb.co/yfMnjs2
Kobelco SK520XLDLC-10 excavator
https://ibb.co/6JV5SSQ
JCB467ZX wheel loader
https://ibb.co/yy03m4J
sensor based Tomra COM XRT 1200 ore sorter
https://ibb.co/mz3cpBc
1) When do you think that economic assessment will be completed?
♣ As above we know the numbers and is being independently verified so I can release it – believe me that day cannot come soon enough
♣ Again we have invested over the past few months over US$3.5m in new mining and processing equipment
♣ The brand new mining equipment secured last quarter included a JCB 456ZX wheel loader and a JCB JS305 tracked excavator and this was in addition to the Kobelco SK380XDLC excavator, a JCB 3CX backhoe loader, two new JCB 456ZX wheel loaders, and two new Bell B25E articulated dump trucks, that were secured and delivered to the Blesberg mine site in early Q2 2023
♣ Two sensor-based, XRF ore sorting plants (“XRF Ore Sorters”) were also secured last quarter for total consideration of approx. ZAR 40.6 million (£1.7 million)
♣ The XRF Ore Sorters have been purchased as part of the proposed expanded processing facilities that are to be installed at Blesberg and will initially include a new and expanded crushing and screening circuit, a mica removal vacuum screen and the XRF Ore Sorters.
♣
♣ The expanded processing plant is capable of producing up to 5,000 tonnes per month of a +20mm saleable high-grade lithium spodumene product from both the current stockpiled material from the historic mining activities and from the broader development plans of a large scale hard rock open pit mining operation.
♣ The XRF Ore Sorters purchased comprise a Rados SRF100-8 ore sorter with a 30 tonnes per hour (“TPH”) capacity, which has been acquired from Rados International Technologies (Malta) Limited (“Rados”) for ZAR23M (£990,000); and a Tomra COM XRT 1200 ore sorter with a 120 TPH capacity, which has been acquired for ZAR17.6M (£750,000) from Q Global Mining (Pty) Ltd, a subsidiary of Q Global Commodities.
2) How much drilling is required to be able to confirm a robust feasibility study on the asset and therefore the economics of the grade? Or are you focusing on a core element of the asset first?
♣ We commenced a ZAR26M (approx. US$1.35M) resource drilling exploration and mine planning program at Blesberg last quarter
♣ The Program was aimed at defining a maiden JORC Code 2012 compliant Mineral Resource Estimate solely on the immediate Blesberg pegmatite and which was considered sufficient to support a larger and longer-term hard rock open pit mining operation of +10 years.
♣ In addition to the drill program, airborne geophysics and multispectral satellite imaging work, exploration trenching program, geological modelling, open pit mine design study and an initial mining works program, slope stability, groundwater and geohydrology studies, environmental management studies and discounted cashflow analyses and competent person reports are to be completed.
Open the twitter app and search for marula mining. Once on their page, search for "blesburg" and also have a browse of the media tab for photos.
I will also repost my posts from last month on Blesbur here, stand by:
Best you start here. Its an hour long idiots guide to Marula from 5 months ago
https://youtu.be/oIuGOOyx8Lc?si=CleH4aS1GsxPtSYG
Next, zooming into Kinusi copper project (video from august)
https://youtu.be/JUIaIt68Mus?si=ahbxM2KayRzTSghk
7minutes50 talks about Q global top geologists and mining expert visiting Kinusi and being very impressed
Here is Q global who are about to become 34% shareholder after the 8th of march EGM
https://qgc.co.za/
Here is Jason Brewer on telegram talking about the release of economic data for Kinusi
https://ibb.co/ngFn5mR
Https://www.miningreview.com/east-africa/exclusive-marula-mining-fast-tracking-its-way-to-east-african-success/
“While we were looking at graphite projects, a team member mentioned copper. So we went to an area were small scale artisanal mining for copper was taking place. They were producing copper at grades of over 20% and simply discarding the low-grade material, which is around 5 to 6%. I’ve spent three years in the DRC looking at copper and what I saw at this mine just blew my mind.”
It is for this reason that in October Marula announced that it had entered into a deal with Takela Mining Tanzania to secure a 49% commercial interest in the Kinusi copper mining project which comprises 10 granted copper mining licences.
The licences are valid for a period of seven years and are located in Kinusi in Mpwapwa District in the Dodoma region of central Tanzania. They extend over a combined area of approximately 91 ha with eight of the licences contiguous and allow the holder to prospect and mine for copper. Samples of the copper ore mined and azurite and malachite copper mineralisation exposed in shallow pits and shafts on the licences reported copper grades of 7.28%, 19.12% and 31.32%"
“Instead of adopting the traditional phase of exploration, development, production, which can take decades and would require a lot of capital, our focus is to find existing under-capitalised assets – primarily where there has been small-scale mining activity of commodities which are in high demand, not just now but in the medium and long-term – and invest in their development,” explains Brewer.
https://m.miningweekly.com/article/marula-seeks-jse-listing-provides-kinusi-exploration-update-2023-06-29
https://www.londonstockexchange.com/news-article/market-news/kinusi-copper-project-operations-update/15967683
hi rainwhenidie, marula have a billionaire investor who has successfully developed 47 mines over the last 20 years called q global. they are involved in the qualification process for all capex items and have forwarded the cash for the pilot plant and exploration at kinusi.
worth searching this document for kinusi to find out some info.
https://marulamining.com/assets/files/qglobal/2_rule_9_circular.pdf
search google for "zack mir q-u-i-n-t-o-n" (remove dashes) and there is a soundcloud interview with *****on for his credentials.
also here is an earlier stockbox interview with q u i n t o n here:
https://youtu.be/j5vofpzrxco?si=1rmrpvi8mu1i_mm3
the copper project was originally owned by a local artisinal miner. they have minimal machinery and sell the high grade ore probably for cash.
rough estimates of irr, capex, resource size is all underway and will be released very soon as part of the london stock exchange listing. this is a regulatory requirement. an initial resource estimate announcement is overdue.
as we have the financial backing and mining experts already as part of marula and q globals team, we don't need to wait years for pfs and dfs studies. they qualify projects in house and go straight into production, saving years and tens of millions of $. that's the attraction here.
SORRY didn't meant to copy that section
RNS 22nd december
The Processing Plant will be installed and commissioned on a 28 hectare site
that benefits from access to both an existing power and water supply and has
direct road access through to port facilities in Dar es Salaam.
Initially the Processing Plant comprises a feed bin with a Grizzly fitted with a
transfer conveyer and a scalping screen. All fines are fed into a double roller
mill and then into a rod mill and the oversize material is fed into a 10 x 16
Telsmith jaw crusher.
The crushed material is fed into the scalping screen to ensure all material is
processed into 1mm to 75 micron fines. A slew conveyer ensures significant
flexibility in the process flow sheet such that material can be moved to either
feed a process stockpile or direct to the mill.
It is proposed that upon successful commissioning and operation of the
Processing Plant, the Company will look to expand processing capacity based upon
the next Phase II Program of exploration activities and resource definition
drilling work that is to be completed.
Phase Two of the Processing Plant sees the milled fines being fed with a paddle
feeder using gravity and into a James-table circuit with the milled fines fed
into three Amoref shaking tables.
Material from the first and second tables are pumped into the final table, where
the copper concentrate is recovered and placed on drying pads and stockpiled
before transportation and sale under the Company's proposed copper offtake
arrangements.
MARU.AQSE
Marula Mining
GBX 12.75
0.00 (0.00%)
At close
Marula Mining Plc - Update on Tanzania Copper Processing Plant
22nd December 2023, 12:12
Marula Mining PLC
("Marula'' or the "Company")
22 December 2023
Update on Tanzania Copper Processing Plant
Marula Mining (AQSE: MARU), an African focused mining and development company,
is pleased to provide an update on the Kinusi Copper Mine ("Kinusi" or the
"Project"), where the Company's recently appointed independent processing
consultants, Erudite Strategies ("Erudite"), have completed an inspection and
review of the initial modular processing plant (the "Processing Plant") in South
Africa, ahead of its planned transportation to Kinusi.
Further to the announcement on 24 August 2023, transportation of the Processing
Plant will not occur until early in Q1 2024, following an inspection by Erudite,
which has identified that additional work has to be completed in January 2024.
Once this work is completed, the Processing Plant will be ready for
transportation, installation and commissioning in Tanzania at Kinusi.
The Company is targeting early Q1 2024 for the installation and commissioning of
the Processing Plant, which will coincide with the commencement of the Phase II
Program of exploration activities and resource drilling program that is also to
commence at Kinusi.
Highlights
· Erudite has completed a review and inspection of the Processing Plant in
South Africa as part of their scope of work to assist the Company in its planned
mineral processing activities across its battery metals projects in East and
Southern Africa
· As part of their review and inspection work, they identified that there was
additional work required and which is now to be undertaken and completed in
January 2024
· It is proposed that once the work has been undertaken, the Processing Plant
will then undergo a final inspection and factory acceptance testing ahead of
being transported to Tanzania to the Kinusi mine site where it will be installed
and commissioned
· This installation and commissioning of the Processing Plant in early Q1 2024
and commencement of larger scale open pit mining will coincide with the
commencement of an upgrade program to the Kinusi site infrastructure and the
start of the Phase II Program of exploration activities at Kinusi which will
include additional geophysical survey and resource drilling work
· Planning and budgetary approval work for the site infrastructure upgrades
and the Phase II Program of exploration at Kinusi was completed in Q4 2023 with
input from the teams and technical personnel from Takela Mining Tanzania Limited
and Q Global Commodities and the Company's independent geological consultants,
Geofields Tanzania Limited
· Discussions on off-take and marketing agreements for the sale of 100% of the
copper concentrates produced at Kinusi are now expected to be concluded in Q1
2024 in line with the com
#maru interview just out.
new manganese equipment on hire purchase initially through existing equipment suppliers. they have a line of credit with them. Already producing product now with stockpiles there to get further started on.
offtake agreement for blesberg lithium plant due early next week. byproducts there will more than cover processing and mining costs
Cost to produce, minus
Revenue from lithium, $1000+/t (we have been told they will achieve a premium to the spot price)
Initial production once Tomra sorter arrives in a few weeks, 5000T a month
https://youtu.be/0IZBDToA7tU?si=KGufHNY5Ims5S-ep
That's around $70m profit a year from the first two assets, lithium and manganese
Existing miner already been selling the ore they have been digging out so imagine this is simple gravity separation.
Not much work required to get the two outputs, 12% and 25%. The 25% ready to be sold straight away and will bring in cash to pay for all initial work carried out plus pay for stage two leaching plant.
New interview to be aired at 4pm
https://youtu.be/0IZBDToA7tU?si=Km5wGF79H7TV5dp1
There will be a high grade 25% and low grade 12% concentrate output from the stage one plant.
The copper has been tested and reacts very well as the ore is 98% dissolvable in acid so recoveries look great on paper for a stage two leaching operation to produce 99.9% copper cathode on site.
Current plan is to expand the licence area further and discussions are ongoing with neighbouring artisinal mining operations
Here was a twitter post in december with photos of the plant under construction.
https://twitter.com/MarulaPlc/status/1738179733869773312?t=G1mrdJZTkbREicOgzhjmoQ&s=19
The local miming company were already making money selling the ore direct.
The initial output will be 25% concentrate paid at LME price x 62% x grade so around $1200/t
Next stage will be to produce cathode 99.9% which sells for $8000+/t
Check my post 28th February, notes from the zoom call.
Competent persons reports all complete and will be published as part of dual listing applications this month.
No need to publish feasability study as they then lead on to bankable feasability studies, but Marula have all funding they need in place to start generating profits on these first four or five projects so can skip a few years and go directly into production.
That's $12m a year *profit* to Marula (revenue will be higher) at todays manganese prices
Stage one exploration results for kinusi are known and soon to be released including competent persons report.
Kinusi copper processing equipment is already under final construction at HQ and will be delivered on location ready to go this month and should be earning profits in quarter 2. All plant and exploration already paid for under existing agreements and new shares will be issued after the EGM on the 8th of March.
Graphite, copper, lithium and now today manganese revenues all coming online very soon.
Today's manganese mime at full rate 25kt/month would be worth over $12m a year to Marula, more if they elect to increase share holding of mine from 60 to 70%. Also manganese prices are trending higher.
What will the share price do when revenue jumps from 0 to $100m+ by the end of this year?
Dividends are gonna be massive
Https://www.aquis.eu/stock-exchange/announcements/4495283
New manganese mine 60% interest. Worth around $400k/month profit to Marula starting early Q2
AGEOS. Love their posts. Have a read:
https://www.lse.co.uk/profiles/ageos/
Latest interview from last week with Jason Brewer
https://youtu.be/Po8YcqfaN2Q?si=3r4w2JTZzbSytBhy
Separately, here's some nice info on the value of tantalite.
https://www.tancominerals.com/tantalita
40% Ore is worth around $35k/t
Https://youtu.be/op8D65jmuzI?si=QjG-iEv4dcfIxMkG
@ the 19:15 timestamp
(on the 7th February)
"we are weeks away from coming back to the market" (talking about releasing news on the types of titanium minerals)
That's been 3 weeks