Investing News Network - Australia

Boab Metals Limited ASX $BML Secures US$30M Trafigura Deal to Advance Lead / #Silver Concentrate Production at the Sorby Hills Project. Boab Metals Limited Managing Director and CEO, Simon Noon “We are delighted to have secured support in the form of binding offtake and project financing from a party of Trafigura’s calibre. Throughout what has been a highly competitive offtake tender process, Trafigura has demonstrated a willingness to work constructively with the Company to deliver a result that is in the best interests of the Project. https://lnkd.in/g4Y3sR9D The binding Offtake Agreement and Prepayment Term Sheet with Trafigura represents a cornerstone of our targeted financing plan for Sorby Hills. We now look forward to further progressing discussions with other prospective senior lenders with a view toward reaching a final investment decision on the Project.” “The opportunity to secure high-quality concentrate from the Sorby Hills project is an exciting prospect for our lead trading book. We look forward to seeing Boab’s management team bring this project into production,” Trafigura’s Global Head of Zinc and #Lead has stated. Boab Metals Limited (ASX: BML) (“Boab” or “Company”) is pleased to announce that its wholly owned subsidiary, Sorby Hills Pty Ltd (“SHPL”), has executed a binding offtake agreement (the “Offtake Agreement”) with Trafigura Asia Trading Pte. Ltd. (“Trafigura”) for lead-silver concentrate produced from the Company’s flagship Sorby Hills Lead-Silver-Zinc Project, located in the Kimberley Region of Western Australia (“Sorby Hills” or “the Project”). In conjunction with the Offtake Agreement, the Company, SHPL and Trafigura have executed a binding term sheet (the “Prepayment Term Sheet”) for a US$30 million prepayment facility (the “Prepayment Facility”) which is subject to the satisfaction of certain conditions precedent. HIGHLIGHTS OF THE PREPAYMENT AND OFFTAKE TRANSACTIONS Prepayment Term Sheet US$30 million Prepayment Facility from Trafigura to be applied towards the construction and development of the Project. Interest Rate of SOFR1 + 5% per annum. 5-year Term from first drawdown with an 18-month interest only period. To be repaid via equal monthly instalments over 42 months following the 18-month interest only period. Financial Close and drawdown of the Prepayment Facility are subject to, amongst other things, the execution of definitive agreements, the finalisation of due diligence to Trafigura’s satisfaction and the Project being fully funded. If you have questions Please contact Simon Noon Congratulations to the team at BML: Simon Noon, Gary Comb, Richard Monti, Andrew Parker, Karen Ridley, Steve Jones, Barrie Bolton, Sam Charanya #Offtake #silverprice #SorbyHills #trafigura https://lnkd.in/g4Y3sR9D

Horizon Minerals (#ASX:$HRZ) has marked the first #gold pour at its #Booraraproject in #WesternAustralia. #ASXstocks #goldstocks #goldmining #Australia #goldinvesting https://lnkd.in/gNbBYtuX

Element 25 Limited (#ASX:$E25) has secured approval for an expansion at its #Butcherbird #manganesemine. #manganesestocks #manganesemining #ASXstocks #manganesedevelopment #manganeseinvesting https://lnkd.in/gkFwyFEm

Lundin Mining Corporation (#TSX: $LUN, OTC Pink:LUNMF) and BHP Canada, a subsidiary of BHP (#ASX: $BHP, #NYSE:BHP, LSE:BHP) have finalized their US$4 billion joint acquisition of Filo, launching a 50/50 joint venture dubbed #Vicuña. #copperstocks #copperinvesting https://lnkd.in/gwJmYvGP

Australian Vanadium Limited ( #ASX: $AVL,OTC Pink:ATVVF) announced on Monday (January 13) that its #Gabanintha #vanadium project has received environmental approval from the Western Australian government. #vanadiumstocks #asxstocks #VanadiumInvesting https://lnkd.in/grykA5ak

$4m Grant Awarded for Springdale & Collie advancement International Graphite (ASX:IG6) Managing Director and CEO Andrew Worland said, “We are grateful for the ongoing support we have received from the WA Government which recognises the importance of backing new industries to create jobs and support a clean energy future'' “This grant acknowledges the critical importance of building a reliable, sovereign supply of battery graphite materials as quickly as possible and the opportunities this opens for WA to attract trade and investment from international markets. The grant will fund essential activities that will help propel our mine to markets strategy through feasibility to commercialisation.” #graphite #investing #asxnews #investingnews https://lnkd.in/g8B6dCUr

Australian billionaire Gina Rinehart has investments in #lithium, #rareearths, #copper and much more, including Azure Minerals Limited, Liontown Resources Limited (#ASX:$LTR) and Lynas Rare Earths Ltd (ASX:$LCY). #ASXstocks #iron #OilandGas #mining #resourceinvesting https://lnkd.in/g9SHmz6n

Gold Mountain Limited (ASX: GMN) is excited to announce it has received 224 soil samples from the southern section of the Salinas II Project in the Bananal Valley in Brazil. This new data has helped the team define a 14-hole drill program to test 10 high-priority #lithium anomalies, some of which are coincident with outcrops of weathered pegmatite. The potential of this emerging Lithium district is highlighted by Latin Resources Limited Collina Lithium Deposit (70.9Mt @ 1.25% Li2O), which lies along regional structural strike from GMN’s Salinas II Project. https://lnkd.in/gCsPw2SD Results from exceptionally high value stream sediment sample have been followed up with soil samples and grid based mapping in the southern part of 831.700/2022 and drilling targets had been identified. Mapping prior to and during soil sampling identifies numerous small pegmatites and some larger pegmatites to a maximum of 10 metres wide. Areas of large quartz boulders, possibly quartz cores to pegmatites, were also mapped and in places are coincident with lithium and lithium pathfinder anomalies. Pegmatites cross cut and are younger than the foliation in the host G3 type granite. Regional structure from geophysics and from topography shows a strong NE to ENE trend, subparallel to the Latin Resources Limited “Lithium Corridor.” Drilling will be oriented at 90 degrees to the regional trend initially, as the most probable major pegmatite orientation direction. Great to #Drilling targets Defined for ASX: GMN: David Evans, Rhys Davies, Marcelo Idoyaga, Trevor Slater, Eric Kam, Jean Lucas, Jozzefer Vincov, Jean Bodart, João Nunes, Jack Eava Rau, Mariana Gusmão, Caio Ramos, Johnny Santos, Luziane De Souza Castell, Iranilson Soares, Bruno Robine, Tatiana Barbosa de Souza Libardi https://lnkd.in/gCsPw2SD

Drilling Targets Defined – Bananal Valley tenement, Lithium Valley, Brazil Gold Mountain Limited #investing https://lnkd.in/gCsPw2SD

#Argentina's strategic position within the #LithiumTriangle makes it a key player in global electrification and offers a strong investment case. Galan Lithium Ltd $GLN #HombreMuerto #lithiumstocks #lithiumexploration #lithiuminvesting https://lnkd.in/gMynVuzQ