Proactiveinvestors Australia Jervois Mining Ltd Proactiveinvestors Australia Jervois Mining Ltd RSS feed en Sat, 20 Jul 2019 08:58:59 +1000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[Media files - Jervois Mining chief updates on strategic opportunities following M2 Cobalt merger ]]> Thu, 24 Jan 2019 13:13:00 +1100 <![CDATA[News - Jervois Mining’s merger with M2 Cobalt will boost East African ambitions ]]> Jervois Mining Limited (ASX:JRV) has entered into a definitive agreement to merge with TSXV-listed explorer M2 Cobalt Corp (CVE:MC), adding Uganda to the company’s East African ambitions

The friendly at-market merger transaction will provide greater scale, liquidity and diversification as well as re-rating potential.

A Plan of Arrangement under the Business Incorporations Act will complete the transaction whereby Jervois will acquire all of M2 Cobalt’s common shares.

“Enthusiastic” about potential

Melbourne-based Jervois is enthusiastic about the exploration potential of M2 Cobalt’s portfolio of tenements in Uganda.

The East African country hosts a continuation of geological trends from neighbouring DRC and has a history of copper-cobalt production.

M2 Cobalt’s Kilembe area consists of five exploration licences covering 710 kilometres along strike from the historical Falconbridge mine.

Strong platform to pursue opportunities

That company’s experience in Uganda provides a strong platform for Jervois to pursue opportunities at and around the historic Kilembe mine and Kasese Cobalt Refinery.

The Kilembe mine holds strong exploration potential along strike in both directions on licences controlled by M2 Cobalt, where drill ready targets at the Bujagali prospects will be immediately funded by a convertible loan from Jervois.

Transaction summary

The arrangement will be subject to approval by two-thirds of M2 Cobalt shareholders.

In addition, the arrangement is also subject to the receipt of certain regulatory, court and stock exchange approvals, as well as Jervois being accepted for listing on the TSX Venture Exchange (TSXV).

The company will keep its primary listing on the ASX, while continuing M2 Cobalt’s listing on the TSXV, thus providing access to Australian and North American markets.

Large cobalt-nickel operations

Jervois’ current asset is the Nico Young cobalt-nickel deposit in New South Wales, where the company is close to finalising a pre-feasibility study on 3.0 million tonnes per annum heap leach facility.

After construction, the facility will be one of Australia’s largest cobalt-nickel operations.

The company has also applied for a prospecting licence over the Kabanga Nickel Project in Tanzania and considers that entry into Uganda will complement its East African regional ambitions.

- Jessica Cummins

Tue, 22 Jan 2019 02:32:00 +1100
<![CDATA[Media files - Jervois Mining on fast track to production at flagship Nico Young copper-nickel project ]]> Fri, 11 May 2018 11:50:00 +1000 <![CDATA[News - Jervois Mining to lift cash position ]]> Jervois Mining (ASX:JRV) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Tuesday 4th July 2017, or earlier if an announcement is made to the market.

Fri, 30 Jun 2017 09:30:00 +1000
<![CDATA[News - Jervois Mining adds NT copper-gold to growing portfolio ]]> Diversified explorer Jervois Mining (ASX:JRV) has added to its Western Australian, Queensland and New South Wales-focused portfolio with the acquisition of a new copper-gold property in the Northern Territory.

The property is 500 kilometres west of Alice Springs near the NT-WA border. 

The news follows on confirmation earlier this month that Jervois had acquired exploration projects in Queensland and NSW from Explaurum (ASX:EXU).

The latest acquisition of an exploration licence from Platypus Resources will involve the issuing of 2 million Jervois shares at A$0.05 per share from the shortfall of a rights issue earlier this year.

The fundraiser closed in August initially raising about $440,200 ahead of testwork to update the company’s Syerston-Flemington scandium resource in NSW.

Exploration at Syerston so far has resulted in strong values of scandium along with potentially economic by-products of iron, gallium, vanadium cobalt and platinum.

The area targeted by this drilling had been only lightly explored before by previous tenement holders.

As a consequence, the underlying bedrock geology was poorly understood.

Jervois ended the September quarter with more than A$1 million in cash.

Its acquisition of the Explaurum properties this month, however, was valued at $610,500.

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Mon, 23 Nov 2015 16:30:00 +1100
<![CDATA[News - Jervois Mining targets nickel, cobalt, iron resource in New South Wales ]]> Jervois Mining (ASX:JRV) has started a 14 hole program to facilitate a resource calculation on EL7281 Summervale near Nyngan in New South Wales.

This is expected to add to the nearby Westlynn (EL6009) resource of 16 million tonnes at 0.83% nickel and 0.06% cobalt.

Of particular note at EL7281 Summervale are the extensive intersections of iron in the form of magnetite.

Previous drilling had returned:

- 10 metres at 0.922% nickel and 0.034% cobalt including 5 metres at 1.145% nickel and 0.038% cobalt;
- 13 metres at 1.41% nickel and 0.083% cobalt including 1 metre at 2.15% nickel and 0.033% cobalt, 1 metre at 2.03% nickel and 0.264% cobalt and 3 metres at 1.89% nickel and 0.21% cobalt; and
- 32 metres at 0.613% nickel and 0.029% cobalt.

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Fri, 20 Feb 2015 13:30:00 +1100
<![CDATA[News - Jervois Mining banks research and development tax refund ]]> Jervois Mining (ASX:JRV) has received an A$511,126 tax refund under the Australian Government’s Research & Development Tax Incentive program.

The company has also completed reverse circulation drilling to upgrade the Inferred Resource at its Young nickel-cobalt project in New South Wales to the Indicated category.

Young currently has a Resource of 82.1 million tonnes at 0.79% nickel and 0.06% cobalt.

Results from the drilling include 15 metres at 1.52% nickel, 11 metres at 2,082ppm cobalt and a single interval at 2.03% nickel.

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Tue, 13 Jan 2015 13:30:00 +1100
<![CDATA[News - Jervois Mining intersects scandium at New South Wales project ]]> Jervois Mining (ASX:JRV) has completed an aircore drilling program at its Syerston Scandium Project in New South Wales that intersected up to 521ppm scandium.

The 27 hole program, which follows on previous drilling that indicated potential for significant scandium mineralisation, has delineated a grid for a scandium-only resource calculation.

Bench-scale test on samples from one of the holes indicates the Syerston ore will respond favourably to a stirred, direct sulphuric acid leach.

A four hour direct leach consuming 1 tonne of acid to 1 tonne of sample would extract 70.7% of the scandium.

The extraction rate rises gradually, reaching 81.1% after 24 hours while adding a small amount of proprietary reagent increased this to 89%.

Further test metallurgical work, process flow sheet development and costing are in progress.

Jervois also receives a royalty of $30 per ounce for the first 400,000 ounces of gold produced at Bullabulling Gold’s (ASX:BAB) mining centre in Western Australia, and $20 per ounce thereafter.


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Mon, 02 Jun 2014 16:20:00 +1000
<![CDATA[News - Jervois Mining completes scandium drilling at Syerston, NSW ]]> Jervois Mining (ASX:JRV) has completed scandium drilling at its Syerston project in New South Wales.

Preliminary results are encouraging with all holes intersecting mineralisation. Several intervals are being re-sampled and results will be released as they become available.

Bench scale tests from one hole have indicated that Syerston ore would respond well to a stirred, direct sulphuric acid leach.

At an acid consumption rate of 1 tonne acid per 1 tonne sample, a 4 hour direct leach at 95 degrees celsius would extract
70.7% of the scandium.

Further metallurgical work, flow testing and costing are in progress.

Jervois also receiving a royalty of $30 per ounce for the first 400,000 ounces of gold produced at the Bullabulling Gold mining centre in Western Australia, and $20 per ounce thereafter.

Norton Goldfields (ASX:NGF) recently launched a takeover bid for Bullabulling Gold (ASX:BAB).

The Bullabulling mine boasts a gold resource of 114 million tonnes at 1.02g/t for 3.8 million ounces.

Jervois is lightly valued at just $2 million.


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Thu, 29 May 2014 13:00:00 +1000
<![CDATA[News - Jervois Mining secures exploration licence in prospective Mt Ida Belt ]]> Jervois Mining (ASX: JRV) has been granted an exploration licence covering the Mt Ida Gold Mine, which is located on a highly prospective fault responsible for numerous gold discoveries along its 200 kilometre strike length.

Having the exploration licence now in hand, this marks Jervois’ return to gold mining with the company having pegged the licence in early July 2012.

The Mt Ida Gold Mine is located 86 kilometres northwest of Menzies, Western Australia, within the Mt Ida Greenstone Belt.

The historical production from Mt Ida was over 290,000 ounces of gold from underground mines, while the nearby Timoni Gold Mine (Copperfield) produced over 260,000 ounces of gold and Bottle Creek has a recorded production of 39,000 ounces of gold.

The tenement was pegged following studies of previous work done by Delta Gold in the mid 1990s showing the presence of the Bottle Creek Shear with convergence of the Mt Ida Fault.

The major structures in the Mt Ida area are closely associated with mineralisation.

The Ida Fault intersects EL 29/861, which covers the Mt Ida Gold Project. The ore from Mt Ida is a sulphide which could potentially contain copper.

Exploration for potential gold mineralisation will begin in the June quarter of this year.

Jervois is currently undertaking a non-renounceable pro-rata rights issue to raise up to $2.2 million.

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Mon, 25 Mar 2013 15:10:00 +1100
<![CDATA[News - Jervois Mining to raise up to $2.17M via rights issue ]]> Jervois Mining (ASX:JRV) is offering a non-renounceable non underwritten pro-rata rights issue to raise up to $2.177 million.

The rights issue is offered on the basis of one new fully paid Jervois share for every two Jervois share held by shareholders on the record datae of 6 March,

The offer opens on March 12 and closes on 28 April with trading in news shares likely to start on 9 April.
The funds will be used for general exploration activities on all of the company's existing tenements, research and development and general overhead and opeex.

It will also undertake new and ongoing metallurgical test work on drill hole samples taken from its existing tenements.

The company's tenements include the Bullabulling Gold project in Western Australia, where it is working on a feasibility study.

The BAB production schedule indicates that 1.95 million ounces of gold would be recovered from an initial mine life of just over 10 years.

Its tenement also includes the Young Nickel and Cobalt in laterirtes exploration licences in New South Wales.

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Fri, 22 Feb 2013 16:20:00 +1100
<![CDATA[News - Jervois Mining secures A$3 million from Baycrest Capital ]]> Jervois Mining (ASX:JRV) has secured a continuous investment commitment from Baycrest Capital that would see the fund invest up to A$3 million over a 3 year period.

Under the agreement, Baycrest, which is a long-only Australian fund, can be required by Jervois to purchase up to $3 million worth of its shares via a series of placements.

When Jervois requests capital, Baycrest will directly purchase a minimum amount of $25,000, with Jervois retaining the option of requesting Baycrest to purchase larger parcel.

The price of the shares issued to Baycrest will be set at the lowest daily volume weighted average price per share within a 20-day pricing period, minus a commission of 4%. There is also a hard floor set at $0.10 per share to protect existing shareholders.

The agreement will cap Baycrest's ownership of Jervois at 19.99%.

Jervois holds a royalty interest at the 3.5 million ounce Bullabulling Gold project in Western Australia. It also has nickel/cobalt exploration tenements in New South Wales

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Thu, 13 Dec 2012 13:20:00 +1100
<![CDATA[News - Jervois Mining identifies potential potash resource near Kalgoorlie ]]> Potential for a major potash resource has been identified by Jervois Mining (ASX: JRV) at the wholly owned Lake Barlee Potash Project situated north west of Kalgoorlie.

In early stage exploration which included auger drilling, spectrometer, hydrology, geomorphology and flora and fauna surveys, a high sulphur content in the brines of up to 13.8% was identified in a drainage system.

Potassium values from 19 auger drill holes to 2 metre depths averaged 0.61%, with surface spectrometer samples up to 6%.

Jervois holds approximately 1508km2 of tenements covering a playa lake
system at Lake Barlee and the smaller Lake Giles.

Thu, 21 Oct 2010 10:55:00 +1100
<![CDATA[News - Jervois Mining enters joint venture to develop the Nyngan Scandium deposit ]]> Australian-listed gold and mineral exploration company Jervois Mining (ASX: JRV) has penned a a joint venture agreement with Toronto Stock Exchange-listed EMC Metals to explore and develop Jervois' world class Nyngan Scandium deposit located in New South Wales, Australia.

This latter group will manage the project until further notice by the participants and has compiled the report given below for release to TSX and also for the Jervois release to its shareholders via ASX.

“EMC’s mandate for growth is to aggressively pursue opportunities in specialty and unusual metals," EMC President Peter Bosse said.

In December 2009 we acquired TTS Inc. and the services of its founder Willem Duyvesteyn, a leading expert in the development of technologies for the recovery of these metals.”

“Signing an agreement only two months later to develop the world’s only primary Scandium property proves EMC’s total commitment to the rapid execution of its mandate and bodes well for future developments."

The Nyngan Deposit is located approximately 500 km northwest of Sydney, Australia and is accessible via a 25km sealed road from the town of Nyngan. The property consists of part of exploration license EL 6009 and all of EL 6096 and covers over 9,000ha.

Scandium and its alloys, are presently used in the aerospace industry, sports equipment, laser research, specialty welding wire, electronics and high intensity halide lamps. The current use of scandium is severely restricted by its scarcity of reliable supply as there are no primary Scandium mines in production in the world.

It is anticipated that a significant demand for Scandium will be realized within the aluminum and fuel cell industries once a reliable supply of Scandium has been established.

Very little information is available in the public domain for Scandium prices. The most reliable data are available from the USGS, which has quoted a price of $1,400/kg for the last four years for a Sc2O3 product of 99.9% purity.

In the 1980s, 134 rotary air blast holes and two diamond drill holes were drilled in the area exploring several of these Alaskan-type pyroxenite bodies for platinum group.

Between 1999 and 2001, two traverses of reverse circulation drill holes exploring for nickel were drilled across the Gilgai Intrusion. Jervois obtained the sample pulps from these RC holes and analyzed them for scandium; the results indicated there was a significant enrichment of Scandium in the Gilgai laterite.

In 2006, Jervois completed a 2,638 meter drill program consisting of 64 reverse circulation holes and 5 air core holes at the Gilgai Project.

EMC Metals is currently carrying out the work required to reconcile the existing JORC resource with NI 43-101 standards.

EMC has signed an Exploration Joint Venture Agreement with Jervois pursuant to which EMC will enter into a joint venture on the Nyngan property. EMC will be the manager of the joint venture.

Under the Agreement, EMC is required to pay the sum of CAD $300,000 into escrow to be released to Jervois upon satisfaction of certain conditions precedent, including verification of title to the Nyngan property and approval of the Toronto Stock Exchange.

Tue, 09 Feb 2010 08:55:00 +1100
<![CDATA[News - Jervois Mining updates market on 2009 exploratory drilling at Summervale ]]> Jervois Mining (ASX: JRV) has issued an update regarding 2009 exploratory drilling activities for nickel and cobalt at its tenement in Summervale near Nyngan in NSW.

The company targeted a possibly large mineralised extension to the known nickel/cobalt resource of the its adjacent Westlynn (EL 6009) tenement.

Forty four exploratory holes were drilled in the new tenement, within a zone identified by ground and airborne magnetics.

Of these holes, 11 intersected significant mineralisation, particularly for nickel, and a further five intersected nickel intervals at 0.5% and above, with the approximate distance between Holes 39 to 34 2km.

In terms of ‘scout drilling’ where the location of possible mineralisation is not known with certainty, a 1:4 ratio for significant results is very encouraging.

Jervois managing director Duncan Pursell said the results also indicated the new tenement could encompass a very large structure.

Further exploration at Summervale in 2010 will include an RC drilling program and an electromagnetic ground survey in the area of the significant intervals.

The delay in announcing the final assay results was due to samples being sent to an interstate laboratory for processing.

Mon, 16 Nov 2009 11:27:00 +1100
<![CDATA[News - Jervois Mining in talks for funding for Nyngan Scandium Project ]]> Jervois Mining (ASX:JRV) has advised  that negotiations for joint venture funding are at an encouraging stage with one European group and another International company for the Nyngan Scandium Prospect in NSW for a specialist small scale open-pit mining operation.

The Nyngan resource contains 12,012,000 tonnes at 261ppm scandium (measured: 2,718,000 tonnes at 274ppm, indicated: 9,294,000 tonnes at 258ppm).

Both prospective investors are potentially significant users of scandium oxide. Potential combined initial production requirements could be at least 15 tonnes per annum of 99.9% Sc2O3. Based on the USGS annual survey of scandium prices, annual sales revenue from Nyngan could possibly be of the initial order of US$23 million, with net revenue depending on production costs for the final process flowsheet selection.

Subject to positive results from future testwork, piloting and financial studies, first production from
Nyngan could conceivably occur in late 2010 or early 2011. The above proposed scandium production rate would be likely to generate sufficient funds to continue to progress the pre-feasibility development of the Company’s much larger scale Young nickel/cobalt resource without the short term necessity for finding a joint venture partner for Young.

This would be a significant advantage to Jervois shareholders because at the present low nickel price, a commitment to a bankable feasibility study and subsequent full scale development of the Young does not appear to be a viable option.

Wed, 15 Apr 2009 09:20:00 +1000