Jervois Mining Look For Growth Opportunities, Searching Its Offtake And Investment Partners

  • Nov 14, 2018 AEDT
  • Team Kalkine
Jervois Mining Look For Growth Opportunities, Searching Its Offtake And Investment Partners

Jervois Mining Limited (ASX: JRV) is happy to make an announcement to its shareholders about its Nico Young cobalt nickel project in New South Wales, Australia. At present this deposit is 100% owned by the company. Further, there are no existing residual royalties with the 3rd party nor the back in right.

There are two distinct bodies of mineralization under the Nico Young deposit comprises. These bodies are held under separate licenses Ardnaree (licenses 5527) and Thuddungra (licenses 5527). These exploration licenses are adjacent to each other. 

Its project PFS is in the completion phase. The throughput of the optimal production scale of 3.0Mtpa is more than what it was predicted.  Also, Jervois considered it to be a wise decision to move forward with it alone. This will encourage relevant investment opportunities.

Jervois tries to maintain its commitment toward the major ownership as well as operating under Nico Young as a joint venture. However, the company is looking forward to introducing a trustworthy partner who is capable of adding value to the company when it moves forward towards Definitive Feasibility Study (“DFS”) in 2019.

Last week, the company attended the China International Nickel and Cobalt Industry Forum which was introduced by Beijing Antaike Information Co Ltd and the China Non-Ferrous Metals Industry Association Cobalt Branch, in Xiamen, Fujian Province China. After visiting there, the company decided to introduce an investment and off-take partner into its project Nico Young. From the very beginning, the company had a strong interest in the in Nico Young mixed nickel-cobalt hydroxide (“MHP”) and nickel sulphate/cobalt sulphide project. Jervois is now looking forward to catering to those customers where the demand for nickel and cobalt is at the same level. It will try to broaden its horizon through formal discussions on Nico Young project across various geographical regions.

Flemington and royalty sales are expected to get finalized by the end of the year. By the end of the calendar year 2018, having cash in between A$9 million and A$10 million, liquid securities, which excludes the strategic holdings of the company in eCobalt.

This will exclude the royalties from Bullabulling which is considered to be the most appreciated asset by the bidders within the royalty portfolio of Jervois during the sales process at the beginning of the year. At the same time, Nico Young is the only independent source which is funding the company through the DFS. Throughout the year, the cobalt valuations done globally has led to the continuing difficulties faced by the developers to secure financing. Now, the management is able to look for significant opportunity to broaden their geographic mark as well as broaden the portfolio.

Since the inception, the performance of the company remained negative. The performance was -60.65%. The 1 year, 5 years and 10 years performance of the company is -65.05%, 432.92% and -55.73% respectively. Today the share price opened at A$0.190 and it went down and closed at A$0.180. The market capitalization was A$40.19million.


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