Quick fire – industry news briefs

Velox Energy Materials' Phase 1 metallurgical testwork program on samples from its Cambridge vanadium deposit has confirmed there is scope to improve head grade through simple first-pass sizing of selected horizons. (See full results HERE) "To have a pre-float grade of 0.98 per cent V2O5 (vanadium pentoxide) is extremely pleasing and provides an excellent platform to further increase the V2O5 grade and consequently see an outcome in concentrate grades that may be substantially higher," Velox’ president and chief executive officer Simon Coyle said "Mineralisation is near surface (which implies a low strip ratio), occurs in soft flat lying oxidised sediments (implying low cost mining) and coupled with the sizing results and the identification of vanadium in the -38μm fraction, we have increased confidence in the successful economic and technical extraction of vanadium.” The Cambridge deposit is central to Velox's NQV Project in North-West Queensland. It has an indicated mineral resource of 61.33Mt at 0.34 per cent vanadium pentoxide and 234.6 ppm molybdenum oxide. along with an inferred mineral resource of 144.87Mt at 0.33 per cent vanadium pentoxide and 241.9 ppm molybdenum oxide. Diatreme Resources takeover target Metallica Minerals is urging shareholders to reject the offer 'as your board intends to do'. In a target's statement released this week, executive chairman Theo Psaros said an independent expert concluded that the offer - which values Metallica at $24.3 million - was not fair and reasonable, and that Metallica shareholders would not receive their fair share of the merged group. 'The independent expert has estimated Metallica’s fair value is between $164.3 million and $205.1 million (on a minority basis) whereas the fair value of the merged group is between $305.4 million to $382.7 million,' he wrote. Diatreme is offering 1.3319 Diatreme shares for each Metallica share, and pushing the benefits of consolidating the silica sand assets the two companies hold in the Cape Flattery area of Far North Queensland. Mr Psaros said that Metallica directors were taking steps to identify and progress potential alternative transactions, which might result in a superior proposal. (Read the full target's statement HERE) The patent for Pure Battery Technologies' low-emissions process for refining battery materials has been granted in Australia. The company said this was an exciting step forward for PBT and further delineated it from other battery precursor cathode material producers in the market. The EV battery cathode materials company has previously flagged plans for a Townsville presence. Australia Pacific LNG has appointed Dan Clark as chief executive officer of the incorporated joint venture between ConocoPhillips, Origin Energy and Sinopec. Mr Clark (pictured left) brings more than 30 years of industry expertise and leadership having worked in Australia, Qatar, Indonesia, and the United States, most recently as ConocoPhillips Australia president. "I am excited to lead an energy business of this scale that is playing a significant role in meeting demand for natural gas both in Australia and overseas," he said. His predecessor in the chief executive officer role, Khoa Dao, will return to the United States to take up a role as ConocoPhillips chief commercial officer. Australia Pacific LNG is one of the largest gas producers, domestic gas suppliers and LNG exporters on Australia’s east coast.

Quick fire – industry news briefs

Industry Queensland

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