RE: RNS WOW RTO Time17 Jun 2025 09:02
UPSA has the commercialisation rights to a substantial pozzolanic silica alumina ("PSA") reserve in Australia with 99 years of extraction rights for 250 million tonnes (held by UPSA's extraction partner, William Clift and his company, Claystone International Pty Ltd ("Claystone")). Claystone has a further 1.35 billion tonnes of PSA reserves over which UPSA has the rights to extract. These inground PSA reserves have been valued at £10 per tonne. PSA is a pre-certified, scalable supplementary cementitious material (SCM) for cost-competitive, greener, superior performance concrete, providing a lighter and greener alternative to cement clinker, by substituting 40% of cement in concrete with PSA, thus resulting in approximately 40% carbon emission savings (and generating carbon credits). The UPSA reserves are already attracting interest from major cement and concrete players globally and will be targeted for use in private and government infrastructure development projects. UPSA is in negotiations with a number of off takers, including, on a non-binding basis, for the initial supply of up to 270,000 tonnes of PSA. UPSA's audited net assets as at 31 October 2024 were £1.078 billion reflecting the discounted value of the initial 250 million tonnes of reserve.