RE: Information released in the press8 Jan 2025 12:13
Reposting 5085’s excellent summary, useful for anyone looking in:
Information released in the press7 Jan 2025 14:50
Last month Hellenic Minerals SA changed their legal status from a Private Capital Company to a Limited Liability Company. A complicated and costly process often a precursor to a major transaction.
Since the 1980’s, 199 holes have been drilled on the Molaoi acreage, each one hitting mineralisation, often with many lodes being intersected. A number of holes in the 80’s were drilled to the north well away from the 2km strike zone, these were drilled as a means of defining the size of the strike, these also struck mineralisation. To date, every hole drilled by either IGME or Rockfire has hit zinc and other associate metals, not a single miss. It is fair to say if the price of zinc had not been too volatile back in the 80’s this area would have already been asset stripped. So far Rockfire have only drilled 20 holes and this small campaign resulted in a 500% resource upgrade.
“The Chinese aren’t even offering germanium overseas now,” said Terence Bell, manager of Vancouver-based Strategic Metal Investments, a minor metals trader. Each shipment requires approval, which takes 30 to 80 days and makes long-term supply contracts unviable due to uncertainty. Markus Roas, a metals business manager at Indium Corporation, said that U.S. companies were finding it challenging to get licenses and only had weeks' worth of germanium and gallium left.
Rockfire Resources plc, which manages the deposit through its subsidiary Hellenic Minerals SA, announced a few days ago the increase of the potential reserve potential by 500% in the zinc, silver and lead deposit of the Molao Lakonia public mining area. Calculations have been made in accordance with the current Australian Joint Committee on Mineral Reserves Code for the reporting of mineral resource and ore reserve research results (JORC 2012). As a result, Molai is now among the top 20 developing zinc deposits worldwide in terms of reserve potential, grade and zinc equivalent metal content.
Speaking at the RawMat 2023 Conference, on the topic of "Critical Raw Materials: The Country's Strategic Autonomy", he pointed out that "according to official statements by the company (Rockfire), the rare, critical metal germanium (Ge), with many uses in high technology, has been found, while its inclusion in a European funding program is planned soon." According to Alexandra Sdoukou, the time has come for Greece to proceed immediately with more specific actions, with the ultimate goal of achieving the country's strategic autonomy, but also contributing to Europe's self-sufficiency in critical raw materials, to the extent that this is feasible.
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