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Metallica Minerals has been granted a mining lease for its Urquhart bauxite project in Far North Queensland. (0-1)
Metallica Minerals Limited (ASX:MLM) has achieved another significant milestone as it moves the Urquhart Bauxite Project in Far North Queensland into production. (0-1)
Crater Gold Mining Ltd’s (ASX:CGN) shares are trading circa 11% higher intra-day after intersecting graphite mineralisation from its first drill hole at the Golden Gate Graphite project in Queensland.
The Syerston nickel-cobalt-scandium mining project in Australia boasts one of the largest resource base, highest-grade ores, and lowest-cost of its sort outside of Congo.
Crater Gold is fast tracking graphite drilling and testing at its Golden Gate project in Croydon, NW Queensland, with a planned start date of late October or early November 2017. The company states that fresh drill core samples are required for metallurgical and mineralogical tests.
Crater Gold Mining (ASX:CGN) plans to fast-track an exploration program with drilling commencing late-October to mid-November at the Golden Gate Graphite Project in Queensland.
Electric vehicles are being made with new lightweight materials -- aluminum, scandium, titanium, and the battery materials. (0-1)
Scandium demand and supply are hard to really determine at this point; however with the increasing need for light weight aluminum/scandium alloys, scandium demand may soar.
Australian Mines (ASX:AUZ) has raised circa $4.3 million from investors to fast-track the development of its two core cobalt, scandium assets.
The company’s shares were last trading at $0.053, up 15.22% intraday. Metallica’s PFS estimates pre-tax project net present value of $78.4 million on sales of 6.5 million tonnes of bauxite (proved and probable reserves). The PFS base case points to a potential revenue stream nearing $300 million across 5.5 years of production with a payback period of just five months. The project is expected to generate a strong total operating margin of around $12 per tonne.
Graphite occurrences have been observed along with the gold mineralisation in the region. The rich gold discoveries in 1891 at the Golden Gate reef led to the 1890s being the most productive years for Croydon. In recent times, exploration and development were mainly undertaken by larger companies, focussing on gold, with the large low grade Croydon open pit gold mine operated by Barrack Mines Ltd. Significantly, in May 2016 Metallica Minerals Ltd (ASX:MLM) discovered high purity graphite mineralisation at their Esmeralda Graphite Project located 80 kilometres north of Golden Gate.
The successful barging and transhipment of bauxite ore through the Hey Point facility validates the company’s decision to use the low capital cost and established facility as a logistics solution for the 50% owned Cape York Heavy Metal Sands and Bauxite Project. The Cape York Heavy Metal Sands and Bauxite Project is located 5 kilometres southwest of Weipa and 15 kilometres from the Hey Point facility.
The shipment is the first independent bauxite export from Cape York in more than 50 years. The successful barging and transhipment is significant for Metallica as it plans to export bauxite ore through the same Hey Point facility in 2017. In April 2016, the company entered into an agreement to access the privately owned Hey Point facility to export its sought after high-quality, low-temperature, direct shipping bauxite ore.