π₯SUPERB RNS...π₯21 Nov 2024 14:30
There is ACTUALLY a reason for the rise...
RNS ABSTRACT..
Summary
Β· A new marketing study by Smithers (the "Study") estimates the price of the Company's CBS product at US$500 per tonne in the tyre market and between US$550 - US$600 per tonne in the non-tyre market (excluding any value attributable to the product's strong sustainability credentials)
Β· The Study follows a test programme undertaken by Smithers' materials science and engineering division which, by substituting standard carbon black with the Company's CBS product in a typical rubber formulation for passenger vehicle tyre side walls, demonstrated that the Company's CBS product can be used in the manufacture of vehicle tyre sidewalls and other rubber uses
Β· Previous test work performed by SGS Canada Inc indicated that the CBS product can be recovered from the vanadium process plant tailings by simple flotation methods, giving approximately 220,000 tonnes of CBS product per year and potential gross revenue generation in excess of US$110 million per year for Phase 1 of the Balasausqandiq project
Β· The Company estimates that the CBS product can be shipped to either Western Europe or China economically; markets closer to the project will also be investigated
Β· The Company also estimates the combined Scope 1 and Scope 2 emissions, based on current preliminary desktop research, to be between 0.36 tonnes and 0.6 tonnes of carbon dioxide equivalent ("CO2e") per tonne of CBS product produced in comparison with between two tonnes and five tonnes of CO2e per tonne of standard carbon black production, giving a strong marketing advantage and potential future savings in carbon credits
Β· The Company has commenced marketing activities for commercial opportunities for the CBS product