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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.
Completion of an RTO can be a time consuming event requiring negotiations, the successful completion of all party due diligence and the subsequent shareholder approval. In anticipation of our successful sale of AO Kun-Manie, an RTO Identification Plan was crafted by the Board in Q1 2022 to enable us to get a head start on the process. Throughout 2022 and early 2023, various evaluations and preliminary assessments of numerous international private and public companies has already been undertaken.
To date, we have examined numerous mineral resource RTO opportunities. Geographically these have been located in Canada, the US, Scandinavia, Spain, Brazil, Peru, Chile, Ghana, Kenya and Australia. Commodities have included potash, silica, alumina, copper, nickel, gold, silver, metallurgical coking coal, energy fuels substitutes and lithium. A total of 13 opportunities from within 10 organisations have been considered.
During the course of our investigation, we have also been contacted by two non-mineral resource companies. Discussions with these more financially advanced entities indicate there is potential for us to move into the Artificial Intelligence / Entertainment or Financial Services or other sectors. These warrant further investigation and we have therefore expanded our RTO investigation of opportunities beyond mineral resource sector.
We shall continue to explore viable options for an RTO and will make further announcement in due course. On behalf of the Board of Directors, I would like to thank the Group's staff and advisers for bringing the sale of AO Kun-Manie to completion, especially through such turbulent times and I look forward to the future of Amur Minerals.
Https://www.londonstockexchange.com/news-article/AMC/audited-final-results/16022913
I’m not sure they automatically become an investment company 6 months after disposal. I think they may need to publish an admission document. Happy to be proved wrong.
https://docs.londonstockexchange.com/sites/default/files/documents/AIM%20Rules%20for%20Companies%20%2801012021%29_1.pdf
Simms, Zurich can be seen here,
https://www.goldforum.live/DGG/Condor-Gold-e3a1bdd0190451a96320ae6a
https://www.goldforum.live/DGG/Condor-Gold-e3a1bdd0190451a96320ae6a