Sign up Australia
Proactive Investors - Run By Investors For Investors

Platina Resources director shows faith in scandium strategy with on-market share purchase

John Anderson has made his first Platina share purchase, obtaining 104,340 shares valued at $12,000.
Increasing stacks of coins
The company is focused on the Owendale Scandium-Cobalt-Nickel Project

Platina Resources Limited (ASX:PGM) non-executive director John Anderson has demonstrated his confidence in the company’s focus on scandium by acquiring shares on-market.

The acquisition of 104,340 shares valued at $12,000 was Anderson’s first investment in the company.

Former Santos executive

He was appointed to the board in April 2018 after retiring from oil and gas industry player Santos Ltd (ASX:STO) where he was a senior executive for more than 12 years.

His roles included leading strategic projects, business development, mergers and acquisitions, commercial and marketing and trading.

READ: Platina Resources progressing towards development at Owendale Scandium-Cobalt-Nickel Project

Platina is making progress in advancing a definitive feasibility study (DFS) on its Owendale Scandium-Cobalt-Nickel Project in central New South Wales.

The DFS is due for completion in the fourth quarter of 2018 and will include results from infill resource drilling as well as from a pilot metallurgical program.

READ: Platina Resources increase resource at one of world’s largest scandium projects

Drilling has seen a 6% increase in the overall resource size and a 2% increase in scandium grade.

The overall resource using a 300 ppm scandium cut-off grade stands at 35.6 million tonnes grading 405 ppm scandium, 0.28 g/t platinum, 0.10% nickel and 0.06% cobalt.

This new estimate positions Owendale as one of the largest and highest-grade scandium projects in the western world.

A 6-tonne bulk representative sample was processed at the SGS pilot facility in Perth and successfully refined into 99.99% scandium oxide product at the Element 21 facility in Brisbane.

The product is expected to be saleable into the solid oxide fuel cell and aluminium alloy markets.

Growing scandium demand

Demand for scandium has the potential to increase rapidly given the superior strength and thermal characteristics of using scandium in materials manufacturing.

Scandium is used in a number of existing, high-end applications, including:

– Solid oxide fuel cells (SOFCs) – Bloom Energy;
– Aluminium alloys, used in aircraft, automobiles and sporting equipment; and
– High power metal halide lamps and lasers.
View full PGM profile View Profile

Platina Resources Ltd Timeline

Related Articles

August 21 2018
The project includes the “smoking gun” deposit Zackly which contains 41,200 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver.
Breaking first ground at the HPA plant site
August 10 2018
Stage I construction at Johor site kicks off with a geotechnical drilling and ground survey program.
Sample from Thackaringa Cobalt Project
September 05 2018
Recent pre-feasibility study confirmed that the Thackaringa project is of global significance as a potential source of high-purity cobalt for the battery revolution.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use