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@greend 17:56 - v big organization. Off the scale compared to Fair-journey or Corepath .... or Conduit (once merged ) for that matter. Really surprised this news hasn't lifted the SP more today.
From B/Ts website it seems to my untrained eye there could be some substitution to the FJ and Corepath tech that could now be offered by Bio-Techne from under one roof? Anyone got a take on this aspect?
ATB LB
NasDaq listed (Ticker:TECH) - $11.9Bn MCap
https://investors.bio-techne.com/quote
ATB LB
ATB LB
Techmet again.... Mr Menell presenting at "Unstoppable Africa" conference in New York this Thursday / Friday.
https://www.linkedin.com/posts/techmet-ltd_techmet-ltd-is-taking-part-in-this-weeks-activity-7109829073530408960-yaUN?utm_source=share&utm_medium=member_android
ATB LB
Delightful image of West Kytlim snapped from the flyover today - super super clear. Zero % clouds.
Finally the 'new patch' is fully visible to the right (still growing). Movement also observed on the the dragline.
https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=59.53564527589792&lng=58.91839027404785&zoom=14&preset=1-NATURAL-COLOR&layers=B01,B02,B03&maxcc=4&gain=1.0&gamma=1.0&time=2023-03-01%7C2023-09-18&atmFilter=&showDates=false
There was a post earlier seeming to suggest that stripping may be underway in MT with this new TG find. Thought I'd look into it. Sorry to say the eye-in-the-sky disagrees. Still an interesting find kudos to the originator.
Here is West Nittis now. Another super clear image today. WN is centre of the image just below the black smudge. If you want to get your bearings, there is a map in the NKT CPR page 6
https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=67.91283129158163&lng=32.74518013000488&zoom=14&preset=1-NATURAL-COLOR&layers=B01,B02,B03&maxcc=21&gain=1.0&gamma=1.0&time=2023-03-01%7C2023-09-18&atmFilter=&showDates=false
Same image from around one year ago (no change on the ground I can see - sorry):-
https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=67.91283129158163&lng=32.74518013000488&zoom=14&preset=1-NATURAL-COLOR&layers=B01,B02,B03&maxcc=21&gain=1.0&gamma=1.0&time=2022-03-01%7C2022-09-29&atmFilter=&showDates=false
ATB LB
Rags further digging on this has lead to a disappointment :(.
Urals Innovative Technologies... although listed and looks as though it's an NN asset on their site I can't find any direct links between the two. UIT more likely a long term partner / subcontractor to NN. Scroll back to the website link, It seems the English version of the site is empty. View the page in native Russian and translate in the browser....Then it springs into life. More info comes up. Just coincidence that the picture of building shows it clad in NN blue/grey livery. The equivalent of companies house gives details as if it's privately owned.
Looks like a dead end. But they are definitely in Ekaterinburg and definitely offer pgm refinery services. Whether the output compounds are right for EUA I'm not sure. Hypothetically they could still be involved with our 'sand' .
In hindsight it was a bit of a leap. More apologies on my part due. Sorry folks.
Back peddling all round.
ATB LB
Sorry Bill - I didn't recall it completely right.
It was more that they were unhappy with the arrangement so were evaluating other options. Maybe this stopped the ball rolling.
It was in 2021 AR (published June 2022). Under the revenue section page 21.
'All revenues generated by the Group are from sale of metals, within the Russian Federation. Currently the sole source of revenue is metal sales from the West Kytlim mine. Refinery receipts record the total of metal sales with payments received for platinum and gold, at the market rate, on average every month throughout the mining season. For reasons related to the nature of metals refining the revenue for other PGM (Rhodium, Iridium and Palladium) are received when all shipments for that year have been received. The Company will be evaluating alternative metal refining and sales options to improve the revenue stream.'
https://www.lse.co.uk/rns/EUA/annual-results-and-notice-of-agm-2fhth7z5ujmj4ja.html
It was sometime after the publication of the AR when they transitioned to stockpiling concentrate only. The next RNS (Last Sept interims) mentions this being the case.
Apologies for the previous posting if it was misleading.
ATB LB
@Bill. EUA apparently fell out with EZOCM some time back due to the payment terms on non Pt products. Pt was being settled monthly. Other PGMs eg Pd/Rh were being settled annually. The unfavorable terms was the explanation that was RNS'd and the reasoning behind stopping refining WK output at their facility.
It may not be the whole story but that was what was put out officially.
ATB LB
@Trotech.
NB : Still piecing it together.
EZOCM is the incumbent refinery.
131, Uspensky Avenue, Verkhnyaya Pyshma, Sverdlovsk region
NN's facility is called Urals’ Innovative Technologies. (Website looks like it's being re skinned)
18, Kosmonavtov avenue, Yekaterinburg
ATB LB
https://uralinteh.com/en/about
https://en.ezocm.ru/
@Rags - not pieced it all together yet but recently been digging into the WK concentrate question raised by Bill and others.
I stumbled on the discovery that Nornickel have a PGM refinery in Ekaterinburg. Urals’ Innovative Technologies.
This is new news to me - never noticed this info before. So on WK's doorstep. Same town as EUA's offices and the incumbent refinery EZOCM
It's listed on NNs assets page here -
https://nornickel.com/business/business-model/
Not yet joined all the dots together but puts a new perspective on NN being potentially interested in a PGM asset in the Urals ... close to one of their refineries.
ATB LB
>"There is also the possibility of news of funding from the US Department of Defense or others.................."
....... or something cemented at the Cornwall Mining Conference.
Just a thought. But yes I think you're right, expect an RNS around the time of 121.
So mid November if not before.
Another reason to be upset about missing out on the TUN site visit ðŸ˜ðŸ˜ðŸ˜. Still waiting to hear.
I recon I've been black balled by the kernow boys as I'm in Devon and want to visit a Devon mine...It's all happening the wrong side of the Tamar. Little do they know I get the cream and jam the 'correct' way round on a scone🤣.
Joking aside there was a post on TWs linkedin today about the link with Oxford Sigma...
https://www.linkedin.com/posts/tungsten-west-limited_oxford-sigma-and-tungsten-west-plc-tungsten-activity-7107739578689560576-H4om?utm_source=share&utm_medium=member_android
ATB LB
Don't know on that front vii.. Details are sketchy at the moment. But seems likely to me CL will feature somewhere in the mix. Menell is creating quite an expansive network of complimentary contacts in all this recent activity. There's a lot of coincidences lining up here imo.
See how this unfolds but it's potentially an interesting tie up . If it plays out it could ultimately be beneficial for cusn.
ATB LB
Exclusive Lithium supply deal for Techmet.
https://www.prnewswire.com/news-releases/mitra-chem-announces-new-investment-and-partnership-with-techmet-mercuria-301925160.html?tc=eml_cleartime
ATB LB
Also interesting... Techmet forging more links into US EV markets. Li in this case but shows they have the right reach in the US to do deals.
https://www.prnewswire.com/news-releases/mitra-chem-announces-new-investment-and-partnership-with-techmet-mercuria-301925160.html?tc=eml_cleartime
Https://www.linkedin.com/posts/tungsten-west-limited_121mininginvestment-london-activity-7107734136462659585-bk9s?utm_source=share&utm_medium=member_android
"we are excited to be attending the 121 mining investment London in November where we'll be sharing some intriguing progress updates"
ATB LB
Evening Vii,
Thanks a million for this. Interesting report - Good skills. You're a legend. Can relate to the sloth like pace of Cornwall's planners. I had the pleasure of dealing with them on a domestic matter a few years back. Frustratingly slow and we faced a lot of local nimbyism barriers. My experience was the parish council wielded a lot of clout. The 'Alps' may straddle several boundaries - Fraddon to Bugle - big area? Outline to build on a small infill plot is nothing compared to BL's project... but 4 years!
EA under staffing already affecting other local matters which we know about (eg noise license). Impressive numbers though and the big plus I can see is it's putting South West Li production on the map, the optics of which may benefit other projects in the area - Not just lithium.
Sadly my TUN visit is looking like it's in the balance which I'm mightily hacked off about. Manic workload meant I couldn't get down today :(. Looks like Friday's session is now booked out but I'm on the reserve list. Got everything crossed so I can repay the favour. Plus I really wanted to see first hand how they've progressed those processing lines and the fit out since that last video. I was also interested in potentially rubbing shoulders with JmF (we share a mutual friend so there's sort of an 'in') and finding out why he's still knocking about down there??
I'll let you know either way what happens later this week. Looking shaky though.
@Natnrg - good to see you too buddy - hope you're well. Good luck here, it's a fairly long haul to production, but we're used to that... progress here will seem like lightning. Big bonus is none of the research documents need translating or accessing through a VPN :). CUSN is a very pleasant and friendly board with good info. V refreshing. I wish you well.
Cheers.
ATB LB
Https://metalevents.com/events/19th-international-rare-earths-conference
San Antonio next month. George presenting and Albert Slot of Less Common Metals .
K Tech also on attendees list.
ATB LB
The map of WK has now been updated on the website..... but the scale bar is still incorrect..... phffffft.
On the plus side, the Flanks and Tipil licences now show values for their footprint. Which I guess makes it better.
https://www.eurasiamining.co.uk/operations/west-kytlim
- - -
Some Numbers:-
The current visible workings span 2.4sq Km (measured from sat images)
The new patch is an additional 0.35sq Km
Main licence area: 21.5sq Km (11% currently utilised)
Flanks: 50.8sq Km (21 times the current workings)
Tipil: 24.5sq Km (10 times the current workings)
Current workings visible by satellite represent 2.8% of total available district (including exploration areas)
Keeping an eye on TPI files for Monchetundra licence updates.
Trav (N-K-T) being the biggie - sadly nothing to report on that front.
ATB LB
The "unknowns" in Uberaba are precisely why Mosaic and RBW are carrying out initial trials, assays and ultimately a PEA.
Current project status - MOU....
Same process as Phalaborwa. PEA findings there provided the confidence and scientific backup to fund the front and back end pilot plants and move the analysis up to DFS. Both PEA and DFS were underwritten by suitably qualified 'competent persons'
Normal stuff and recognised practice with any discovery; hard rock, brownfield or otherwise. It derisks financial outlay in measured steps.
Uberaba could well be an absolute dog laced with trouble, un economic recovery rates, high costs and nasty contaminants. The PEA will provide the details if this is the (unlikely) case.
Why not wait patiently and see what the experts publish in this respect. Then pull the project fundamentals to pieces if its warranted and justified.
ATB LB