Extract of Cheatham's11 May 2023 14:54
Statement in the RNS issued on the 17th of February 2023
''CS Project, Nevada USA
The CS Project is fully permitted and shovel ready with a fully approved mine plan for the extraction of a total of 14.5 million tons of pozzolan and 1.3 million tons of perlite at a rate of up to 500,000 tons per year. The Company's permits continue indefinitely, subject to periodic, procedural renewals.
As a guide to the value of natural pozzolan, the latest pricing information available to the Company suggests fly ash, for which natural pozzolan is a replacement, sells for c.US$100 delivered into Las Vegas and the cement price, which natural pozzolan can partially replace, is currently around US$140/ton and rising.
The Company is continuing to target discussions with the large integrated cement and cement and ready-mix companies that could both grind the pozzolan as a fly ash replacement or to make 1P (pozzolan) cement. We are also targeting fly ash distributors who see natural pozzolan as a means to continue their business at a time when coal fly ash supplies are threatened by the closure of coal-fired power stations. We have also extended our discussions to materials companies that supply (for example aggregates) to the concrete industry, and to the producers of new-generation cements that are based on natural pozzolans.
We have also commissioned a number of industry insiders to assist in this process as this approach has worked very successfully for the Company in bringing world leading sepiolite producer, Tolsa. S.A. into the Company's Pioche Sepiolite Project.
A detailed market study has been commissioned for the cement and supplementary cementitious industries in California and Nevada to update the preliminary study we obtained some time ago. We expect this will help identify additional opportunities for further development of the CS Project.
We are continuing our work to develop markets for perlite with an emphasis on horticultural grade perlite. A number of companies have undertaken tests on our raw perlite and expressed interest in buying material when commercially available. Other companies have material ready for testing, are awaiting test materials when next available or have recently completed testwork. In the latter category is a large industrial consumer of finer grained, industrial grade perlite which recently completed preliminary testwork and which has now expressed interest in moving to larger scale tests.''
It is very hard to imagine the type of person who can churn out this drivel year after year !!!
''The company is continuing to target discussions'' - not even saying 'in discussions' !!
This company will never achieve success as long as we allow a proven failure in terms of success in securing deals or finance. We need a leader who can lead from the front and achieve success urgently ! AIMVHO
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