Sponsored

Surefire Resources (ASX: SRN) hits milestone, enters vanadium and HPA MOU with Saudi Arabia

August 17, 2023 05:39 PM AEST | By Team Kalkine Media
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

Highlights

  • The MOU is for mineral processing opportunities related to Surefire Resources’ Victory Bore project.
  • The latest development provides a clear pathway to unlock maximum project value.
  • Victory Bore Pre-Feasibility Study is expected to be completed by November this year.

Perth-based mineral exploration company Surefire Resources NL (ASX: SRN) has executed a Memorandum of Understanding (MOU) with the Ministry of Investment, Kingdom of Saudi Arabia (MISA). The deal concerns the company’s Victory Bore Vanadium and High Purity Alumina project and covers vanadium production and concentrate processing.

The latest development delivers a clear pathway for a mining operation in Australia at low-capital cost. The company would then transport the concentrate to KSA for value-add downstream processing and high-value product production. KSA is a low energy cost jurisdiction.

The processing of concentrate from the Victory project, and other vanadium-bearing feedstock in KSA is expected to create employment opportunities, investment, high-value commodities’ production and processing capability.

With this latest development, SRN is expecting further investment opportunities and incentives. Also, it would assist the company in securing funding and development through binding agreements.

Under the MoU, the Victory Bore’s vanadium concentrate is proposed to transport to Geraldton Port, and then on-shipping to Port Damam, KSA. Afterwards, the downstream processing would take place in nearby industrial sectors to produce end products of ferro-vanadium, vanadium electrolyte,  vanadium pentoxide, and bi-products of pig-iron, ferro-titanium as well as HPA potential.  

Meanwhile, the company is progressing with the Pre-Feasibility Study on the Victory Bore deposit that is expected to be finalised by November this year.

SRN shares traded at AU$0.017 on 17 August 2023.

 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Two ASX Listed Stocks Giving Bullish Indications

Recent Articles

Investing Tips

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.