Avenira Limited Updates Market On Novaphos Technology Of US-based JDCPhosphate, Inc

Avenira Limited Updates Market On Novaphos Technology Of US-based JDCPhosphate, Inc

ASX-listed metals & mining sector group Avenira Limited (ASX: AEV) today provided an update on United States-based company JDCPhosphate, Inc in which Avenira owns 7% interest.

JDCPhosphate has announced that it is moving to commercialise its proprietary technology and changing its name to Novaphos Inc. The company is focused on the development of a potentially proprietary high-quality super-phosphoric acid production technology, called Novaphos, formerly called IHP.

The Novaphos technology enables sustainable production of high-quality superphosphoric acid using low-quality phosphate rock without creating phosphogypsum waste. Novaphos’

The oxidation and carbo-thermal process of Novaphos has the capability to recover phosphate from low-quality phosphate sources and avoid direct acidulation of phosphate rock, thereby minimizing the amount of waste and completely avoiding production of phosphogypsum. The company told that the Novaphos process co-produces solid balls from which phosphate has been extracted during processing, a commercially useful aggregate for construction and road building called J-Rox.

Managing Director of Avenira, Louis Calvarin stated that “Avenira is excited to see the very strong results announced today by Novaphos. The recent Novaphos achievements represent very promising next-step development opportunities for Avenira’s Wonarah project in Australia as well as at its Baobab project in Senegal, and will factor in its strategic plans.”

Avenira hold exclusive license rights to use Novaphos technology in Australia and Senegal where it has two key phosphate projects Wonarah in Australia and Baobab in Senegal.

During the March 2019 quarter, Novaphos made additional improvements to its technology, further enhancing its efficiency and reliability as well as building on recent achievements at its demonstration plant in Fort Meade, Florida.

Currently, the Novaphos technology is attainting phosphate yields of approximately 80% and significant improvement in the acid quality with impurities at about 2% of SPA-equivalent acid, with substantial potential for further enhancement at commercial scale.

Going forward, Novaphos intends to keep running its demonstration plan only with the use of low-quality phosphate rock tailings, containing an average of about 14 percent phosphate as P2O5, with high-levels of silica and other impurities, including magnesium.

The report read that Novaphos has moved to the process of commercialization for Novaphos technology by initiating engagement arrangements with major phosphate producers and engineering companies.

Avenira Limited is listed under a metal and mining sector focused on the mining and development of phosphate. Its principal assets include 100% owned Wonarah Phosphate Project in the Northern Territory, Australia and 80% owned Baobab Phosphate Project located in Senegal, West Africa. Positioned as one of the largest known phosphate deposits in Australia, Wonarah Phosphate Project forms part of the company’s long-term strategy backed by the IHP process.

AEV stock has been uplifted by 35.714% or $0.005 to close at $0.019 on 9 April 2019.

Over the past 12 months, AEV has declined by 50.00%, including a negative price change of 26.32% in the past three months.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Top 25 Dividend Stocks report for April

People prefer a dividend stock in their portfolio as it possesses the feature of compounding. Compounding means that the earning which is generated through these dividend stock will get reinvested and will eventually create earnings from earning. More precisely, the dividend generated from these dividend stock will get reinvested to buy another set of a share of the dividend stock which results in giving a higher dividend.

Click here to download your top 25 dividend stocks report!

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report