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Sable was apparently upgraded by Glecore about ten years ago to process copper sulphide and cobalt ores simultaneously (in line) from ores sourced from the DRC using the Glencore Technology Albion Process? (cf First commercialisation of the Albion Process for Copper by Paul Voigt and others)Presumably this system could still be used under licence if the available feed is adequate? Plant of that age should still be serviceable I would imagine? Might this concept be given consideration again in time do you think whilst cobalt prices are high? Copper first though I agree to get the business stable and more profitable.

But we assume that the Chineese sourced plant was not the same design as the USD 1M approx water efficient plant to be sourced from RSA and preferred by Kazeera. DYOR. The Chinese plant may need to be modified if possible when the time is right or even scrapped I guess.

The enforcement pathway of the Arbitration award is yet to be disclosed but the mechanics will have been agreed by the Board.Interestingly they have shown themselves to be unafraid of setting up their own operating business for the mine but were unimpressed by the 'old school' plant and equipment sourced by the Chinese owners. I guess that they are putting their ducks in a row elsewhere before addressing this project and the interest rolls up meanwhile. The adjacent mine is in the hands of an administrator from what I have gleaned. DYOR.

further ai view suggests it is highly likely that

rio tinto will secure mining rights for a significant portion of the recently announced 55 billion tonne iron ore discovery. the company's strong position is based on its long-standing presence, extensive landholdings, and infrastructure in the hamersley basin, as well as its involvement in recent projects that are part of the larger ore body.

key factors favoring rio tinto

existing landholdings: through its subsidiary hamersley iron, rio tinto already holds and operates a vast number of mines within the hamersley range, which is the site of the new discovery. in fact, it's so dominant that it manages hamersley station not only for grazing but to control access for exploration and future mining.

recent investments: rio tinto has already confirmed plans to invest more than $13 billion in the pilbara region between 2025 and 2027. several recent project announcements demonstrate its focus on the area:

western range: in a joint venture with china baowu steel group, rio tinto is developing the western range iron ore project, with the new mine scheduled to be operational in 2025.

hope downs 2: in june 2025, rio tinto and han**** prospecting announced a $1.6 billion investment to develop the hope downs 2 project, located in the pilbara.

west angelas: in october 2025, the robe river joint venture (including rio tinto) announced a $733 million investment to extend the west angelas mine.

early mover advantage: mining rights in australia are often secured through a process of exploration licenses and proving up a resource. given rio tinto's extensive exploration history and ownership of surrounding tenements, it has a significant first-mover advantage in proving up and securing the new ore body.

massive infrastructure: to support its existing operations, rio tinto has built up a massive infrastructure of railway lines, ports, and processing facilities. this gives it a major advantage over new entrants who would have to build such infrastructure from scratch.

hamersley station - wikipedia

the iron ore mining group rio tinto manages the station along with several others. the station is owned by hamersley iron.

iron ore western australia

potential complicating factors

other players: while rio tinto is the dominant player, other companies also have a presence and interests in the hamersley region. this includes bhp and fortescue metals group.

negotiations with the state: mining rights are ultimately granted by the western australian government through leases and licenses. this process can involve negotiations, and the government may consider other bidders or conditions.

Update: The rights to the 55 billion tonne iron ore reserves in Western Australia's Hamersley region are not yet fully assigned, as the discovery is very recent. The state of Western Australia technically owns the minerals, and any rights to exploit them would be granted by the state, likely through mining leases, in partnership with companies like Rio Tinto and China Baowu Steel Group, who are already heavily invested in the area, according to this Yahoo Finance article and this Mining Frontier article.

Also Rio Tinto owns rights to the massive high grade Australian Hamersley Iron Ore deposit through its subsidiary, Hamersley Iron Pty. Ltd. It operates multiple mines in the Pilbara region, and some operations, like the Eastern Range mine and the new Western Range mine, are joint ventures with other companies such as CMIEC, Baowu Steel, and formerly Shanghai Baosteel. The Robe River Iron Associates joint venture, a partnership between Rio Tinto, Mitsui Iron Ore Development, and Nippon Steel, also operates in the region.

The deal is as described including the PGM stockpiles.

They have already been valued in the Balance Sheet at the lower of cost or realisable value. As it is a by-product it is possible that it has been assigned a very low value.If the buyer assigns the stock a higher value in his balance sheet as a new cost of stocks so be it, if he can justify it.So the sale is an overall package from a willing seller to a willing buyer all things considered. They do not want to buy without the PGM stocks. It will get passed in all probability as many on the Board will judge it to be a good deal overall, and what is more it is a deal which is available now to a management keen to sell as it has no raw material secured for the future.So let us stop pretending that we have any influence in this matter and lets move on deciding to sell or hold our shares.That is in our hands.

Just to note that Rio Tinto have to deal with developing unusual management skills at Richards Bay Minerals. This can affect saleability of RBM surely.

https://www.news24.com/business/companies/amabhungane-mafia-state-richards-bay-minerals-pushes-back-but-the-war-is-far-from-over-20240805

Perhaps Rio will walk away despite the projections of a low cost dual mineral miner. Just from strategy change by them.

https://discoveryalert.com.au/news/rio-tinto-titanium-divestment-2025-market-pressures/

But maybe SVML can go it alone or within another JV. I remain invested and optimistic.

Bear in mind that the profits from Chrome/PGM sales/stock uplift until the completion of the sale also accrue to JLP. Small comfort but they do appear positive to me.

So a tax increase announced from about USD8/tonne to nearly USD60/tonne is the latest Black Swan Announcement. On 48ktpa that is an extra USD2.5M to absorb on forcast 2027 Zircon Sales and USD700K on 13.5 ktpa by-prodoct Ilmenite and rutile.Time for a new spreadsheet from Cedrus I think.This is very significant but unlikely to destroy the feasibilty of the project continuance.They need to get complete clarity on the scope of the tax first.

I bought modestly for the medium to long term as I like the idea of extracting minerals from tailings and other waste. I would like it even more if they found a way to remediate the waste heaps in collaboration with governments concurrently with the mineral extraction process to reduce the pollution as that would be the most cost effective opportunity to introduce additional bits to the process to take enviromentally positive actions.

Just because Perdevlei is 34 times larger than Walviskop and can support an additional process plant or two obviously does not imply that sales or production will scale up by 34 times, - just that the life of the deposit will be longer. Life of Mine is also complicated to determine in this case as the wave action apparently constantly replenishes the excavation, as it is in the surf zone, so we will be awaiting the practical results to assess the potential. Again the yield of HMS per tonne of excavation availabe is theoretically high and again the results on the ground can soon be assessed from production records and assays. This may not be an overnight sensation so patience is the key.

Cedrus Investments issued an analysis based on FY23/YEDec results posted in March24. Despite being incredibly bullish it is still worth a read - but with a pinch of salt. DYOR. Since then mine access has been disrupted by a bridge failure and output has been impacted so forcasts for this year are unlikely to be met.

It is beyond me as to how the share price has dropped so significantly and the spread is now so wide on a share where nothing untoward has been reported and who are now able to destock their rutile at a price I presume is of the order of £300/tonne? I am unaware of any collapse in the Zircon price or new issues relating to mine access??

This is a Senagalese Competitor operation for comparison. High Volume Wet Extraction system outputting 7000 tonnes/day to be concentrated and processed. Very Low % Zircon content though. Shows what can be done capacity wise. Eramet is quoted in France.

https://gco.eramet.com/en/gco/our-value-chain/mineral-sands-production/

Am very disappointed with the recent share decline - I am down nearly 50%. But Rome was not built in a day, and AIM is very volatile until loss making businesses mature,and a derisked buyout is rarely very lucrative. The proven reserve is likely to be large based on the unproven geological estimates determined to date but short term mineral extraction and sales licences and short term leased land arrangements are not conducive to funding a large Capex plant even if markets can be established and scaled up rapidly for the products.So it will be mainly a dry dig or small dredge I think until sales are confidently forecastable. A detailed production breakdown to establish the annual % yield would be an informative metric to corraborate the % mineral yield in the estimate as that is one of the strong points for these deposits.

The Indonesian fund in question that has had to liquidate its portfolio, including shares in PYX Resources, is Provident Capital. Provident Capital, an Indonesian investment firm, had to sell its stake in PYX Resources due to financial pressures and a strategic decision to reallocate its investments​ (PYX Resources)​​ (MarketScreener)​​ (Financial Times)​. This move impacted PYX Resources, a company primarily focused on zircon production in Indonesia​ (SharePrices)​.

I found these numbers somewhere: The global market for Helium is about USD6Billion/annum. Gas price in Feb22 was about USD 280/thousand cubic feet (mcuft.) A USD50 Million Capex plant costs about USD20,000per million cubic feet opex, plus overheads.Output per module is probably about 350million cu ft/annum opex say USD7Million, requiring I think only 2 no ISOcontainers per day to be available to fill for transport by road freight once compressed. Revenue ex transport is USD98 Million/annum.Welcome to check my numbers.If the gas is proven to be extensive extractable and commercial(still a long shot) it could be extremely lucrative on these numbers.The plants are modular so they can be bought as required to match well production and readily relocated. DYOR. Not Investment Advice.

This is the basis of an agreed bid recommended by the board of a Company recently.

· Under the terms of the Offer, each Trident Shareholder will be entitled to receive:

for each Trident Share:

49 pence in cash (the "Cash Consideration")

· The Cash Consideration values Trident's entire issued and to be issued share capital at approximately £144 million.

· The Cash Consideration represents a premium of approximately:

· 22.5 per cent. to the Closing Price per Trident Share of 40.0 pence on 12 June 2024 (being the latest practicable date prior to this Announcement (the "Latest Practicable Date"));

· 42.0 per cent. to the Closing Price per Trident Share of 34.5 pence on 23 April 2024 (being the date prior to the submission of Deterra's first non-binding, conditional proposal of 44 pence per share on 24 April 2024);

· 21.2 per cent. to the volume weighted average price per Trident Share of 40.4 pence for the 1-month period ended on the Latest Practicable Date;

· 31.9 per cent. to the volume weighted average price per Trident Share of 37.1 pence for the 3-month period ended on the Latest Practicable Date; and

· 34.7 per cent. to the volume weighted average price per Trident Share of 36.4 pence for the 6-month period ended on the Latest Practicable Date.

So IF Rio do decide to buy out the Company to secure the reserves following an agreeable Definitive Feasibility Study then can shareholders really anticipate a price offer any better than a premium of say 50% to the current price I wonder? Talk of multi-bagging when the anticipated mine development cost is so high might be Pie in the Sky? If Rio were of the opinion that the project is now sufficiently derisked it would surely have bid already to avoid a counterbidder appearing? Other than a positive DFS, any show of interest from another well funded miner - one or more, is surely the next big hope for the shareholders. A lack of competitive interest will undoubtedly influence the value of any bid? - DYOR.

From my amateur sleuthing it appears that 4 companies seem to own about 63% of the shares and 20 'shareholders', including various share platforms holding shares on behalf of others, speak for 99.5% of the shares overall! I am using 1.28USD = 1GBP for my rough calculations.

L1 Capital Funds have been buying subscription shares by agreement since March 2022 at prices seemingly varying from about 37GBp per share to 08GBpps. and they still have about GBP2.3million value subscription shares to purchase? As I looked there were a total of 461.65million shares in issue.

As that means that the lower the share price the more shares they will obtain for their money, is there any incentive to see the share price rise at present? From their point of view they should load up at low prices provided they are confident that the value of the business will eventually rise as it becomes profitable and they can then find buyers to realise a profit on future realisations for their Funds.So I do not see the prospect of immediate gains here.Once they have completed their purchases they will then be hoping for continuing share appreciation as will, in my view, the incentivised and well paid, senior management.

I see the minnows such as myself being protected to a degree by the big shareholders, and it is mostly shareholders, as opposed to bondholders who are currently involved. My modest investment should then be safer from any future restructuring needed to tackle any potential black swan failure in achieving profitability.AIM is a risky place to own shares by its nature.I like to feel somewhat derisked.

I would welcome views and any corrections to my assumptions and calculations.