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On December 14, 2018, Platina Resources Limited announced that they had signed an MOU (Memorandum of Understanding) with Metalysis Limited, a UK based technology firm, which focusses on the development of metal alloy powders. The memorandum is aimed to estimate the technical and economic feasibility of using the advanced process to produce a scandium rich master alloy.
Platina Resources Limited (ASX:PGM) is in the mining business. Listed in 2006, the company is exploring one of the largest and highest-grade scandium deposits in the world. The recently conducted Definitive Feasibility Study has indicated the economic possibility of building a low capital expenditure open-cut mining operation and the facility producing scandium oxide at Platina Scandium Project (New South Wales, Australia). The procedure for manufacturing the scandium oxide has been evaluated through a trial program which generated 6-tonnes of ore and 99.99% scandium oxide.Â
Currently, Platina is actively concentrating on market development and securing off-take and evaluating various options for reducing production costs while making value-added scandium products including master alloys.
The traditional industry process involved producing a 2% aluminum-scandium master alloys by melting scandium oxide powder with aluminum metal. But now Metalysis has developed a modular, electrochemical technology which can create a scandium-rich master alloy feedstock, which is used to make aluminium-scandium alloys. The master alloy is further adulterated with molten aluminium to less than 0.5% scandium metal for use in the product. Metalysis technology allows the production of a master alloy addition, which is 15X higher in scandium content using scandium oxide and alumina oxide.
Metalysisâ process is in demand from various industries. The industries are aerospace, automotive and additive manufacturing (3D printing). In recent years, the dominant consumer of scandium is a solid oxide fuel cell industry. The most significant value of scandium lies in the functional properties which impart as an alloy in aluminium. When used in amalgamation with other common aluminium alloys, scandium can produce stronger, heat tolerant, weldable aluminium products. These types of products will consolidate into transportation applications for light-weighting, and it lowers the required fuel efficiency.
The company will negotiate a technology licensing agreement with Metalysis once the initial test work programs have completed.
Financial performance: As per the recent financial results posted by Platina, Total Revenue was $148,173 in 2018, down by 40% compared to $248,173 in the last year. Operating loss was reported to be $1,327,294, up by 93 % compared to $687,285 in the last year. Net loss was $393453, down by 26% compared to $532726 in the last year. Earning per share was -$0.15 as compared to -$0.24 in the last year. There were no dividends paid during the financial year.
Stock performance: In the last six months, the share Platinaâs stock has shown a negative return of 28.57% as on 13 December 2018 and 6.78 percent fall over the past one month. The companyâs shares are trading at $0.060 with a market capitalization of $14.53 million as of close of trading hours on 14th December 2018.
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