Proactiveinvestors Australia Platina Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Platina Resources Ltd RSS feed en Wed, 17 Jul 2019 10:56:02 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Platina Resources attracts ASX speeding ticket after share price and volume increases ]]> https://www.proactiveinvestors.com.au/companies/news/223869/platina-resources-attracts-asx-speeding-ticket-after-share-price-and-volume-increases-223869.html Platina Resources Ltd (ASX:PGM) received a query from the ASX on Friday related to the company’s share price rising from a low of 4.2 cents at the close of trading on Wednesday, July 10 to a high of 4.9 cents on Friday, July 12.

The ASX also noted the significant increase in the volume of Platina securities traded over the same period.

Platina responded to the query explaining that it was not aware of any information that had not been released to the market which, if known, could be an explanation for recent trading in the securities of the company.

READ: Platina Resources' subsidiary lodges mining lease application for Platina Scandium Project in NSW

However, the company noted that it continues to advance confidential discussions with 3rd parties relating to its current projects and new investment opportunities.

No formal terms have been agreed and there is no certainty that any agreement/s binding or otherwise will eventuate.

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Mon, 15 Jul 2019 15:52:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223869/platina-resources-attracts-asx-speeding-ticket-after-share-price-and-volume-increases-223869.html
<![CDATA[News - Platina Resources' subsidiary lodges mining lease application for Platina Scandium Project in NSW ]]> https://www.proactiveinvestors.com.au/companies/news/219934/platina-resources--subsidiary-lodges-mining-lease-application-for-platina-scandium-project-in-nsw-219934.html Platina Resources Limited’s (ASX:PGM) wholly-owned subsidiary Red Heart Mines Ltd has lodged a mining lease application for its Platina Scandium Project (PSP) with the NSW Department of Planning and Environment.

The application paves the way for completion of the permitting process, including continuation of Platina’s stakeholder engagement program.

READ: Platina Resources’ quality scandium a win for namesake project in NSW

Platina managing director Corey Nolan said the PSP mining lease application was a significant milestone in the project’s development.

He added: “[It] is supported by a comprehensive definitive feasibility study, environmental studies and stakeholder consultation process in its design.

“The company will continue its program of engagement with the local community, councils and state government as the project moves towards the development stage.

“Critical to this pathway is the continuation of the strong marketing effort to secure offtake for the project’s high-purity scandium oxide, which will facilitate the securing of project financing.”

Key project parameters

  READ: Platina Resources bags $1.1 million cash refund

Platina has begun preparing the project’s development applications which require landholder lease or land purchase agreements to be secured.

The company is also continuing its stakeholder engagement program to establish its licence-to-operate within the communities that surround the project, namely Condobolin, Fifield and Tullamore.

Cash resources will be conserved by finalising environmental impact assessments once Platina has further advanced offtake negotiations.

READ: Platina Resources to engage technical advisor for Skaergaard scoping study

PSP is the company’s flagship project, potentially enabling Platina to become Australia’s first scandium producer with cobalt, platinum and nickel credits.

A definitive feasibility study was completed late last year and demonstrated both the technical and economic viability of the project.

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Thu, 09 May 2019 00:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219934/platina-resources--subsidiary-lodges-mining-lease-application-for-platina-scandium-project-in-nsw-219934.html
<![CDATA[News - Platina Resources’ quality scandium a win for namesake project in NSW ]]> https://www.proactiveinvestors.com.au/companies/news/218192/platina-resources-quality-scandium-a-win-for-namesake-project-in-nsw-218192.html Platina Resources Limited (ASX:PGM) (FRA:P4R) (OTCMKTS:PTNUF) specialises in scandium project exploration and development in Australia. It is run by former analyst Corey Nolan, a finance professional and minerals economist who has more than 19 years of experience working in and consulting to the resources industry.

The former Morgan Stanley analyst and Price Waterhouse Coopers corporate advisory services director was the chief executive officer of Sayona Mining Limited, and MD and director at Elementos Limited and Leyshon Resources Limited before joining Platina in August last year.

What is Platina Resources’ flagship project?

Platina’s key asset is the project now known as the Platina Scandium Project, in New South Wales. Previously known as the Owendale Scandium-Cobalt-Nickel Project, the scandium oxide project is about 350 kilometres west of Sydney.

Western Australian company Platina produced a definitive feasibility study for Platina Scandium Project in December 2018, demonstrating robust financials.

The DFS modelled a 30-year mine that would generate an after-tax net present value in real terms of US$166 million ($233 million) at an 8% discount rate to deliver an after-tax internal rate of return (IRR) of 29%.

Platina’s payback period for its high-grade scandium mine was 5.3 years, with its DFS financial model factoring in a scandium oxide price of about US$1550 per kilogram over the life of the project.

This price had been based on the company’s market research and discussions with end-users and is the price the company believes is necessary to drive wider-scale adoption of scandium in alloys.

A US Geological Survey report for 2017 that looked at 5-gram scandium sample sizes valued 99.99% purity scandium oxide at US$4.60 per gram or $4,600 a kilogram.

Scandium International had put scandium oxide prices between $3,000 and more than $5,000, depending on product quality and purity.

Platina’s DFS was based on a December 2018 ore reserve of 4,027 dry kilotonnes at 570ppm scandium, 0.09% cobalt and 0.12% nickel for 3,512 tonnes of scandium oxide (scandia), 3,599 tonnes of cobalt and 4,821 tonnes of nickel.

The reserve was based on a 450ppm scandium cut-off and scandium oxide product being calculated from scandium metal content and a 1.53 factor so as to convert it to the oxide form.

Scandium is generally traded between buyers and sellers and not in a metals exchange environment, with estimates of 10-15 million tonnes a year of supply and demand expected to grow with additional supply sources.

Demand for scandium products comes from buyers interested in sourcing alloy-quality scandium oxide or 99.9%-graded scandium oxide for electrical applications; scandium chloride; scandium iodide in products such as halide light bulbs; scandium fluoride; and scandium acetate.

Following release of the Platina DFS and updated ore reserve, the company unveiled a memorandum of understanding (MoU) with UK processing technology company Metalysis Limited in December 2018 to assess the viability of producing a scandium-rich master alloy.

Later that month the Australian company was able to demonstrate it could reliably produce 2% scandium-aluminium master alloy from Platina project scandium oxide, further improving Platina project economics.

The alloy was produced from scandium oxide or intermediate products in the flow sheet developed in the DFS test work program.

Platina said at the time it was pursuing intellectual property options for the processes it had developed and could scale up the process if potential offtake partners asked for larger samples.

The company had planned to negotiate a technology licensing agreement with Metalysis once its initial test work programs were completed successfully.

What is happening with Platina Resources’ palladium project?

Another project in the company’s portfolio is the Skaergaard gold and platinum group metals (PGM) project in Greenland.

Platina received a number of conditional cash offers for the east Greenland project in light of palladium price increases before opting in December 2018 to appoint a qualified technical advisor to prepare a scoping study for the Skaergaard project as the company determined future options for the asset.

In July 2013 Platina reported a JORC-compliant mineral resource estimate for the PGM project based on price assumptions of US$1,400 an ounce for gold and platinum and US$560 an ounce for palladium.

The price of palladium then went on to increase from US$736 an ounce to US$1,250 in the following five years.

Platina had spent more than $16 million on Skaergaard by December 2018, investing its exploration funds in outputs such as drilling, metallurgy and technical studies.

What is Platina Resources’ reporting schedule?

The company published its December 2018 half-year report to shareholders on March 12, 2019, and is expected to publish its next quarterly reports later this month.

Platina wrote a $285,739 profit in the December 2018 half-year, an improvement of $179,640, or 169%, on the December 2017 half year.

Platina expected to spend $1.4 million in the March quarter of 2019 and earmarked $1 million for exploration and evaluation.

The company had $2.6 million cash at the end of 2018 before bagging a $1.1 million R&D fund cash refund in January 2019.

Inflection points

Significant milestones and transactions related to Platina project, including offtake and production take agreements

Scandium projects sentiment and demand

Final investment decision and financing milestones for Platina project

Successful Skaergaard project milestones, including positive scoping study production

Palladium and PGM market sentiments

Skaergaard project retention-or-divestment decision

Significant financing and commercial transactions for the company

Platina board focused on next steps for namesake scandium project

“The DFS assumes that 33% of the available ore reserves are mined over 30 years, and additional ore reserves and mineral resources could provide for decades of additional production or further production expansion,” Platina Resources managing director Corey Nolan wrote on behalf of the company board in the company’s March 12, 2019, December half-year report and accounts.

“The company is now focused on completing the environmental impact assessment, mining licence application, development applications (mine and process plant), securing offtake and project financing.

“The company also invested in developing procedures to produce scandium-containing master alloy including signing a memorandum of understanding with Metalysis Limited in the UK as an important step in being able to provide potential aluminium industry offtake partners with their preferred product.

“Being able to produce the master alloy from an intermediate product may also provide the potential for capital and operating cost reductions in the final flowsheet design.”

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Tue, 09 Apr 2019 17:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218192/platina-resources-quality-scandium-a-win-for-namesake-project-in-nsw-218192.html
<![CDATA[News - Platina Resources bags $1.1 million cash refund ]]> https://www.proactiveinvestors.com.au/companies/news/211998/platina-resources-bags-11-million-cash-refund-211998.html Platina Resources Ltd (ASX:PGM) has received $1.1 million before costs from a research and development refund claim covering test work in the 2018 financial year.

The company’s research activities have focused on the development of commercial extraction technologies for the simultaneous production of scandium oxide, nickel, and cobalt from lateritic ores at its Platina Scandium Project in New South Wales.

Scandium is presently only produced as a by-product from other processes.

Neither dedicated large-scale scandium production processes nor processes capable of producing scandium from primary ores have been developed or commercialised.

Results incorporated into recent DFS

The results of the research and development activities have been incorporated into the definitive feasibility study (DFS) that was released mid-December 2018.

The DFS confirmed the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility producing high purity scandium oxide.

READ: Platina Resources’ definitive feasibility study confirms robust financials for scandium project

Platina’s managing director Corey Nolan said: “The incentive provides direct assistance to companies like Platina to continue their research and development activities with a view to building value for shareholders.

“The receipt of the R&D rebate strengthens the company’s financial position as the company moves towards the development phase.”

READ: Platina Resources to engage technical advisor for Skaergaard scoping study

Platina also recently engaged a technical advisor to prepare a scoping study for its emerging Skaergaard gold and platinum group metals (PGM) project in Greenland.

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Mon, 07 Jan 2019 09:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211998/platina-resources-bags-11-million-cash-refund-211998.html
<![CDATA[News - Platina Resources to engage technical advisor for Skaergaard scoping study ]]> https://www.proactiveinvestors.com.au/companies/news/211450/platina-resources-to-engage-technical-advisor-for-skaergaard-scoping-study-211450.html Platina Resources Limited (ASX:PGM) is to engage a qualified technical advisor to prepare a scoping study for its Skaergaard gold and platinum group metals (PGM) project in Greenland.

The company recently engaged an advisor to assist in reviewing a number of highly-conditional non-cash offers for the project.

Considering the advisor’s recommendations and the recent increase in the palladium price, Platina made the decision to define the potential development options available for the project through a scoping study.

READ: Platina Resources successfully completes master alloy development program

Platina managing director Corey Nolan said: “The company believes that a scoping study will provide a basis for evaluating the potential development options for the project.

“[This will help] make an informed judgement about the best future path forward for the project.”

READ: Platina Resources’ definitive feasibility study confirms robust financials for scandium project

Platina has invested more than $16 million in the development of the asset including drilling, metallurgy and technical studies.

In July 2013 the company reported a JORC-compliant mineral resource estimate based on price assumptions of US$1,400 an ounce for gold and platinum and US$560 an ounce for palladium.

The price of palladium in the last five years has increased from US$736 an ounce to US$1,250.

READ: Platina Resources successfully produces high purity alumina sample

The company recently demonstrated that it can reliably produce 2% scandium-aluminium master alloy from scandium oxide from its Platina Scandium Project in New South Wales.

Test work underway since August is focused on developing proprietary master alloy production procedures.

Conversion of the scandium oxide produced from mining and processing operations into aluminium-scandium master alloys represents a valuable opportunity for Platina.

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Tue, 18 Dec 2018 23:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211450/platina-resources-to-engage-technical-advisor-for-skaergaard-scoping-study-211450.html
<![CDATA[News - Platina Resources successfully completes master alloy development program ]]> https://www.proactiveinvestors.com.au/companies/news/211277/platina-resources-successfully-completes-master-alloy-development-program-211277.html Platina Resources Ltd (ASX:PGM) has demonstrated that it can reliably produce 2% scandium-aluminium master allow from its scandium oxide from its Platina Scandium Project in New South Wales.

Test work has been underway since August 2018 to develop proprietary master alloy production procedures.

Conversion of the scandium oxide produced from mining and processing operations into aluminium scandium master alloy represents a valuable opportunity for Platina.

READ: Platina Resources aims to produce alloys from scandium project

Platina’s managing director Corey Nolan said: “Developing procedures that enable Platina to produce scandium-containing master alloy is an important step in being able to provide potential aluminium industry off-take partners with their preferred product.

“Being able to produce the master alloy from an intermediate product may provide the potential for capital and operating cost reductions in the final flowsheet design.”

The small scale work has concluded and it has been demonstrated that the procedure developed as part of the test work program can reliably produce 2% scandium-aluminium master alloy.

This alloy was produced from either scandium oxide or from intermediate products in the flow sheet developed in the definitive feasibility study (DFS) test work program.

READ: Platina Resources’ definitive feasibility study confirms robust financials for scandium project

Further details are unable to be released at this time whilst Platina examines options for intellectual property protection for the processes developed.

Now that proprietary procedures have been developed, further work may be undertaken to scale up the process, should potential off-take partners require larger samples.

Master alloys produced from 3 different scandium chemicals from intermediate stages within the scandium recovery flow sheet.

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Mon, 17 Dec 2018 11:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211277/platina-resources-successfully-completes-master-alloy-development-program-211277.html
<![CDATA[News - Platina Resources aims to produce alloys from scandium project ]]> https://www.proactiveinvestors.com.au/companies/news/211190/platina-resources-aims-to-produce-alloys-from-scandium-project-211190.html Platina Resources Ltd (ASX:PGM) signed a memorandum of understanding (MoU) with Metalysis to assess the viability of producing a scandium-rich master alloy.

The goal is to use Metalysis’s processing technology to produce a superior high-value alloy using material from the recently renamed Platina Scandium Project in New South Wales.

The project’s scandium oxide to be tested for the production of a scandium-rich master alloy containing 15x the amount of scandium compared to the conventionally available product.

Scandium rich master alloys produced by Metalysis’ process are in demand from industries including aerospace, automotive and additive manufacturing (3D printing).

READ: Platina Resources’ definite feasibility study confirms robust financials for scandium project

Platina’s managing director Corey Nolan said: “The company now has two development initiatives underway to assess the potential development of a low-cost process for the production of value added, aluminium-scandium master alloy.

“In September 2018, the company announced it was developing a process technology that could be provided to the downstream alloy manufacturers to fast-track the path towards integrating aluminium-scandium alloys in their production lines and utilising scandium oxide from Owendale.

“The MoU with Metalysis represents another innovative way of potentially producing scandium rich master alloy at potentially lower cost than the traditional melting processes.

“The aim of the initiatives is to accelerate the development of the Owendale scandium oxide project by facilitating technology solutions to fast-track the use of scandium oxide in the high-strength, lightweight alloying sector”.

Advantages of a scandium-rich master alloy

Having recently completed a definitive feasibility study, Platina is actively focused on market development and securing off-take.

It is also assessing options to reduce the production costs of making value-added scandium products including master alloys.

Potential exists to significantly reduce the cost of producing this specific master alloy with a lower environmental footprint compared to traditional melting processes.

Additionally, there are significant cost saving benefits to the end user by offering scandium-rich master alloy.

Platina will negotiate a technology licencing agreement with Metalysis once the initial test work programs have been successfully completed.

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Fri, 14 Dec 2018 11:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211190/platina-resources-aims-to-produce-alloys-from-scandium-project-211190.html
<![CDATA[News - Platina Resources’ definitive feasibility study confirms robust financials for scandium project ]]> https://www.proactiveinvestors.com.au/companies/news/211106/platina-resources-definitive-feasibility-study-confirms-robust-financials-for-scandium-project-211106.html Platina Resources Ltd’s (ASX:PGM) definitive feasibility study (DFS) has confirmed the viability of a simple, low-strip ratio, open-cut mining operation and processing facility producing scandium oxide at its flagship Platina Scandium Project (PSP) in New South Wales.

Key project parameters

The positive DFS demonstrates the opportunity to create substantial long-term shareholder value at a manageable capital cost.

Highlights of the DFS include:

• Robust financials

The DFS demonstrates a very robust financial case for PSP.

Based on a mine life of 30 years, the project generates an after-tax net present value in real terms (8% discount rate) of $234 million, post-tax IRR (internal rate of return) of 29% and a payback period of 5.3 years.

The financial model incorporates an average scandium oxide price of US$1550/ kilogram over the life of the project.

Based on market research and discussions with end-users, Platina believes this is the price necessary to drive wide-scale adoption of scandium in alloys.

• Low capital expenditure

The DFS is based on a processing plant designed to initially produce 20 tonnes per year of scandium oxide at a capital cost of $67.8 million, expandable to 40 tonnes/year of scandium oxide for a very low incremental capital cost of $15.6 million, as market demand for lightweight aluminium-scandium grows.

Forecast supply and demand for scandium oxide

• High-grade, large resource base

The strength of the PSP is the very large and high-grade scandium resource, which is amenable to simple, low-cost, open-cut mining techniques at a low waste to ore ratio (1.9:1).

Platina has also delivered a 5% increase in ore reserves, following on from the resource upgrade delivered in August 2018.

PSP total ore reserve

The DFS assumes that 33% of the available ore reserves are mined over 30 years, and additional ore reserves resources could provide for decades of additional production or further production expansion.

• Access to infrastructure

The processing facility will utilise an existing industrial site in Condobolin, New South Wales.

Location of PSP

This unique site provides access to existing infrastructure – labour, water, power, rail, and sealed roads – which results in lower capital costs and simplifies the permitting and approvals process.

• Conventional, well-tested process route

Ore mined at Red Heart will be processed through a conventional high-pressure acid leach (HPAL) circuit to produce 99.99% high-purity scandium oxide.

The process methodology has been extremely well tested through bench and pilot scale test work to confirm operating and capital estimates for the DFS.

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

Once all the minerals are in solution from the HPAL process, recovery is achievable at relatively low incremental cost, thus providing a potential future opportunity to generate cobalt, nickel, platinum and aluminium products (to make high purity alumina) and generate additional cash flow.

The opportunity for scandium alloys

Platina managing director Corey Nolan said: “We are very pleased with the technical and commercial outcomes of the DFS and the compelling business case to develop the Platina Scandium Project.

“While the solid oxide fuel cell industry has been the dominant consumer of scandium in recent years, scandium’s greatest value lies in the functional properties it imparts when alloyed with aluminium.

READ: Platina Resources to develop aluminium-scandium master alloy from Owendale ore

“When used in combination with other common aluminium alloys, scandium can produce stronger, heat tolerant, weldable aluminium products.

“These products are being increasingly incorporated into transportation applications for light-weighting (electric vehicles) and lowering fuel efficiency requirements.

“The company’s strategy is to capitalise on this significant market opportunity and bring the Platina Scandium Project into production as quickly as possible.”

Next Steps

The next steps for project development include:

• Progress permitting and land access by submitting a mining lease application (MLA) for the mine site (this is currently in progress);
• Progress landholder lease or land purchase negotiations for the mine site properties;
• Prepare separate EIS’s (environmental impact statement) for the mine site and the plant site, planned to be completed around mid-2019;
• Prepare separate development applications for the mine site and the plant site;
• Progress marketing activities and sign offtake agreements for scandium production offtake; and
• Raise the debt and equity funding to execute the project.

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Thu, 13 Dec 2018 13:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211106/platina-resources-definitive-feasibility-study-confirms-robust-financials-for-scandium-project-211106.html
<![CDATA[News - Platina Resources to develop aluminium-scandium master alloy from Owendale ore ]]> https://www.proactiveinvestors.com.au/companies/news/205486/platina-resources-to-develop-aluminium-scandium-master-alloy-from-owendale-ore-205486.html Platina Resources Ltd (ASX:PGM) has begun metallurgical testing to develop an aluminium-scandium master alloy using scandium oxide produced at its Owendale pilot plant.

The aim of the program is to develop a proprietary process to produce value-added aluminium-scandium, using primary product from Owendale’s proposed high pressure acid leach flowsheet.

Platina is also investigating the potential to make aluminium-scandium alloys from an intermediate product in the scandium oxide refining process, which would simplify the process and lower overall operating and capital costs.

READ: Platina Resources successfully produces high purity alumina sample

Platina managing director Corey Nolan said: “The master alloy development program will provide the company with a number of benefits including the potential to produce a premium-priced, value-added product.

“[The] alternative proprietary process can enable other downstream alloy manufacturers to incorporate scandium into their product mix, and [has] the potential to lower overall operating and capital costs in the refining process.

“This program is part of a broader analysis of potential by-product revenues that can be generated at Owendale including cobalt, nickel and high purity alumina.”

The first batch of Platina aluminium-scandium alloy

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

Scandium oxide is used in a variety of applications, including ceramic fuel cells, high intensity lighting and in the production of lightweight aluminium alloys.

The solid oxide fuel cell industry has been the main consumer of scandium, however, the commodity’s greatest value lies in the functional properties it imparts as an alloy in aluminium.

When used in combination with other common aluminium alloys, scandium can produce weldable aluminium products that are stronger, heat tolerant and more corrosion resistant.

Aluminium products are being increasingly incorporated into transportation applications, particularly electric vehicles, for light-weighting and lowering fuel efficiency requirements.

READ: Platina Resources forms joint venture with Artemis targeting gold

Owendale is one of the largest and highest-grade scandium deposits in the world and has the potential to become Australia’s first scandium producer with cobalt, platinum and nickel credits.

The project, around 350 kilometres west of Sydney, has a mineral resource of 33.7 million tonnes at 385 ppm scandium.

Platina is undertaking a definitive feasibility study for Owendale and expects it to be complete late this year.

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Sun, 23 Sep 2018 21:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205486/platina-resources-to-develop-aluminium-scandium-master-alloy-from-owendale-ore-205486.html
<![CDATA[News - Platina Resources successfully produces high purity alumina sample ]]> https://www.proactiveinvestors.com.au/companies/news/204289/platina-resources-successfully-produces-high-purity-alumina-sample-204289.html Platina Resources Ltd (ASX:PGM) has produced a small sample of high purity alumina (HPA) in its metallurgical testing program for its Owendale Scandium-Cobalt-Nickel Project in New South Wales.

HPA is a valuable commodity and has the potential to be a high-value by-product at Owendale.

Initial purification test work has demonstrated a purity of 99.989%, very near to the valuable 4-nines (4N) category of 99.99%.

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

Platina’s managing director Corey Nolan said: “Platina is extremely pleased that the very first attempt at recovering aluminium has produced an almost 4N quality HPA product.

“The results demonstrate that Platina has the ability to produce a very high quality by-product, adding another potential revenue stream for the project.”

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

HPA is the pure form of aluminium oxide and the pre-cursor material for the manufacture of sapphire glass and ceramic coated lithium-ion battery separators.

HPA’s value is derived from its physical properties of extreme hardness and chemical stability.

The price of HPA varies upon product density, crystal structure, particle size and distribution and degree of purity.

Further testing is required to demonstrate the economic potential of producing HPA as a by-product at Owendale.

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Thu, 06 Sep 2018 11:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204289/platina-resources-successfully-produces-high-purity-alumina-sample-204289.html
<![CDATA[News - Platina Resources director shows faith in scandium strategy with on-market share purchase ]]> https://www.proactiveinvestors.com.au/companies/news/203642/platina-resources-director-shows-faith-in-scandium-strategy-with-on-market-share-purchase-203642.html 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. ]]>
Tue, 28 Aug 2018 08:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203642/platina-resources-director-shows-faith-in-scandium-strategy-with-on-market-share-purchase-203642.html
<![CDATA[News - Platina Resources forms joint venture with Artemis targeting gold ]]> https://www.proactiveinvestors.com.au/companies/news/203175/platina-resources-forms-joint-venture-with-artemis-targeting-gold-203175.html Platina Resources Ltd (ASX:PGM) and joint venture partner Artemis Resources Ltd (ASX:ARV) will target conglomerate-hosted gold potential at their Munni Munni Project joint venture.

Artemis earned a 70% interest in the now 70:30 joint venture by spending $750,000.

Munni Munni is located in the Pilbara region of Western Australia and is 20 kilometres from Artemis’s 100% owned Radio Hill processing facility.

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

Although the project hosts one of Australia’s most significant platinum group metal (PGM) occurrences, Artemis has now identified potential gold opportunities.

The joint venture geologists will review all the recent exploration work and data to determine a gold focussed work program.

The program would test the structural setting for possible conglomerate or paleo-placer gold targets.

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Mon, 20 Aug 2018 09:52:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203175/platina-resources-forms-joint-venture-with-artemis-targeting-gold-203175.html
<![CDATA[News - Platina Resources increase resource at one of world’s largest scandium projects ]]> https://www.proactiveinvestors.com.au/companies/news/203008/platina-resources-increase-resource-at-one-of-worlds-largest-scandium-projects-203008.html Platina Resources Ltd (ASX:PGM) has increased the JORC resource estimate at its 100% owned Owendale Scandium-Cobalt-Nickel Project in central New South Wales.

The resource update results in a 6% increase in the overall resource size and 2% increase in scandium grade.

Notably, the higher-grade 600 ppm cut-off scandium resource increased by 13%.

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.

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

Platina’s managing director Corey Nolan said: “Owendale is now positioned as one of the highest grade scandium resources projects in the western world with the potential to also derive by-product revenue including, nickel-cobalt intermediate products and high purity alumina.

“The focus is now on completing the feasibility study and the commencement of off-take marketing to facilitate project financing and development when permits are approved.”

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

New resources aim to result in longer mine life

These new resource areas are expected to be converted into new Ore Reserves and increase a future mine’s life.

Mine planning and feasibility work continues with the definitive feasibility study (DFS) due for completion in the fourth quarter of 2018.

The resource upgrade was the result of a small resource drilling program earlier this year, which shows the potential of the project to grow.

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Thu, 16 Aug 2018 11:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203008/platina-resources-increase-resource-at-one-of-worlds-largest-scandium-projects-203008.html
<![CDATA[News - Platina Resources progressing towards development at Owendale Scandium-Cobalt-Nickel Project ]]> https://www.proactiveinvestors.com.au/companies/news/202915/platina-resources-progressing-towards-development-at-owendale-scandium-cobalt-nickel-project-202915.html Platina Resources Limited (ASX:PGM) is making excellent progress advancing the definitive feasibility study (DFS) on its Owendale Scandium-Cobalt-Nickel Project in central New South Wales.

The DFS which is due for completion in the fourth quarter of 2018 will incorporate data from successful work programs which include:

• Pilot metallurgical program – 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 both the solid oxide fuel cell and aluminium alloy markets; and

READ: Platina Resources produces first refined scandium oxide from Owendale project at 4N grade

• In-fill resource drilling – a recent drilling program has expanded the zones of high-grade mineralisation within future mining areas. An upgraded JORC mineral resource is being finalised and will be reported shortly.

READ: Platina Resources’ Owendale project boosted by strong scandium results

On completion of the DFS, Platina will lodge an Environmental Assessment and Mining Lease Application with the New South Wales Government.

The company plans to commence a scandium off-take marketing program in late August, targeting potential customers in the USA, Europe, Asia and Australia.

Once off-take agreements are established, Platina will be able to pursue financing options for the first phase development.

Significant interest is being generated by the company’s advanced activities at Owendale.

A number of approaches have been made expressing interest in the Owendale asset and/or off-take agreements.

Skaergaard

Platina owns the Skaergaard project in Greenland which is one of the world’s largest undeveloped gold and palladium deposits outside of South Africa and Russia.

The company has historically invested substantial funds in the development of the asset including drilling, metallurgy and technical studies.

Platina believes that Skaergaard is a very valuable asset with significant upside potential.

The company recently received conditional offers, including sale, joint venture and spinout and is currently reviewing its options for advancing the project.

As such, Platina is going to engage a suitably qualified and experienced advisor to assist with this process.

Munni Munni

The Munni Munni PGM and gold project in Western Australia is subject to an earn-in by Artemis Resources Ltd (ASX:ARV) who can acquire a 70% interest in the project by spending $750,000.

Platina representatives recently visited the Munni Munni project to assess the activities performed by Artemis during the earn-in period.

Documentation in regard to the joint venture is currently being finalised and the market will be updated in due course on the outcomes of the joint venture and exploration activities at the project.

Growth Opportunities

Platina is examining a number of new growth opportunities which it believes have the potential to enhance the value of the company.

These include new projects and value-adding of existing projects including the potential for producing scandium master alloy, nickel-cobalt intermediate products and high purity alumina.

Platina believes 2018/2019 will be a transformative year for the company as it evolves from the exploration-stage to the development-stage at Owendale.

The company will also continue to develop a pipeline of new opportunities by leveraging its exploration and development experience and expertise.

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Wed, 15 Aug 2018 14:52:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202915/platina-resources-progressing-towards-development-at-owendale-scandium-cobalt-nickel-project-202915.html
<![CDATA[News - Platina Resources produces first refined scandium oxide from Owendale project at 4N grade ]]> https://www.proactiveinvestors.com.au/companies/news/202327/platina-resources-produces-first-refined-scandium-oxide-from-owendale-project-at-4n-grade-202327.html Platina Resources Limited (ASX:PGM) has produced the first refined scandium oxide from its Owendale Scandium-Cobalt-Nickel Project in central New South Wales with samples to be sent to potential customers.

Pilot test work using the patented solvent extraction (SX) process designed and operated by Element 21 Pty Ltd resulted in production of scandium oxide meeting a very high-grade specification of 99.99% (4N).

READ: Platina Resources’ Owendale project boosted by strong scandium results

The results saw the company’s shares rise almost 7% at opening today to 8.3 cents.

Platina managing director Corey Nolan said: “Platina is extremely pleased that the very first attempt at refining the scandium intermediate produced during the pilot plant program in Perth has produced a 4N product.

“The results provide confidence in our ability to supply the market with a very high-quality product and vindicate Platina’s intended use of Element 21 as the technology provider for the scandium extraction and refining processes.”

Low impurity levels

Samples of the refined product were analysed by a combination of ICP-MS and ICP-OES to determine traces of other elements present.

Total impurity levels were between 100 and 200 ppm on the initial batch refining trial.

This purity meets the specification provided by a potential customer and this will be confirmed once this party has analysed a sample.

Other samples will be provided to potential customers once their requirements are known.

Testing in Perth and Brisbane

The product feed in the refining process was the scandium intermediate patented solvent extraction produced during recent pilot tests at SGS in Perth using Element 21’s SX process.

Refining test work was also performed by Element 21 in Brisbane using their proprietary scandium refining technology.

The results validate the process design for a definitive feasibility study (DFS), allowing engineering to proceed on this area of the plant.

This study is expected to be completed in the December quarter of 2018.

Additional trials

Further refining trials on the remaining scandium intermediate are expected to improve upon the purity achieved in the first trial.

Platina’s Owendale project is one of the world’s largest and highest grade scandium deposits and has potential to become Australia’s first scandium producer with cobalt, platinum and nickel credits.

The company recently received higher than expected scandium results along with high-grade cobalt and platinum from drilling at Owendale.

Drilling results

Of the 31 resource definition holes drilled 15 intersected more than one-metre widths at scandium grades greater than 550 ppm, including 5 metres at 710 ppm.

Cobalt grades of greater than 0.15% were returned from 25 holes, including 3 metres at 0.76% while an added bonus was platinum of up to 5.5 g/t.

Data from the drilling will be used to update the resource for the project for inclusion in the DFS.

Nolan said: “Owendale has cemented itself as one of the world’s high-grade scandium projects and the new results will enhance the overall economics and competitive position of the project.”

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Tue, 07 Aug 2018 11:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202327/platina-resources-produces-first-refined-scandium-oxide-from-owendale-project-at-4n-grade-202327.html
<![CDATA[News - Platina Resources’ Owendale project boosted by strong scandium results ]]> https://www.proactiveinvestors.com.au/companies/news/202090/platina-resources-owendale-project-boosted-by-strong-scandium-results-202090.html Platina Resources Limited (ASX:PGM) has intersected higher than expected scandium mineralisation along with high-grade cobalt and platinum at the Owendale project in central New South Wales.

Of the 31 resource definition holes drilled 15 intersected more than one-metre widths at scandium grades greater than 550 ppm, including 5 metres at 710 ppm.

Cobalt grades of greater than 0.15% were returned from 25 holes, including 3 metres at 0.76% while an added bonus was platinum of up to 5.5 g/t.

READ: Platina Resources expands scandium potential at Owendale

Data from the drilling will now be used to update the resource for the scandium, cobalt, nickel and platinum project for inclusion in a definitive feasibility study (DFS) due for completion in the December quarter of 2018.

Platina managing director Corey Nolan said: “It’s very pleasing to have intersected high-grade scandium and cobalt mineralisation in areas which can be incorporated into an updated JORC mineral resource for the DFS.

“Owendale has cemented itself as one of the world’s high-grade scandium projects and the new results will enhance the overall economics and competitive position of the project.”

Highlight results

Best scandium results were 15 metres at 515 ppm, including 5 metres at 710 ppm; 16 metres at 535 ppm, including 5 metres at 670 ppm; and  9 metres at 555 ppm, including 3 metres at 725 ppm.

The highlight cobalt results were 2 metres at 0.42%, including 1 metre at 0.68%; and 3 metres at 0.76%, including 1 metre at 1.36%.

Best high-grade platinum result was 8 metres at 2.2 g/t, including 1 metre at 5.5 g/t.

The data will also be used for development permit applications.

Extension of cobalt and platinum areas

As well as higher than expected scandium mineralisation, the drilling has resulted in southwards extension of the high-grade cobalt and platinum areas previously defined at North Box Cowal.

Sampling from the new drilling includes 968 additional assays from 1,182 metres of predominantly aircore and some RC drilling.

The aim of the drilling program was to infill drill two additional prospect areas as part of the DFS and assist in modelling the widened area for mine permitting.

Potential water resources

In addition, a number of holes were drilled for environmental sampling, groundwater monitoring and trial water bores.

The drilling has added groundwater monitoring and environmental information required for the DFS.

One drill hole intersected a water resource that has the potential to supply the future mine water requirements.

Strong 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. ]]>
Thu, 02 Aug 2018 18:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202090/platina-resources-owendale-project-boosted-by-strong-scandium-results-202090.html
<![CDATA[News - Platina Resources expands scandium potential at Owendale ]]> https://www.proactiveinvestors.com.au/companies/news/178421/platina-resources-expands-scandium-potential-at-owendale-178421.html Platina Resources’ (ASX:PGM) drilling has intersected significant scandium and cobalt intercepts at its Owendale project in central New South Wales.

The drilling intersected several high-grade scandium and cobalt zones at the Owendale North prospect, including:

- 32 metres at 410 ppm scandium;
- 11 metres at 715 ppm scandium;
- 1 metre at 0.48% cobalt; and
- 3 metres at 0.33% cobalt.

The drilling was intended to cover some sterilisation areas and part of a shallow potential starter-pit area; however, scandium and cobalt mineralisation was found to be more extensive than expected.

In particular, there were significant scandium intercepts in terms of both high grade and thickness and some significant cobalt intercepts with several 1 metre sample assays over 0.4% cobalt.

The Owendale project has a total resource of 27.9 million tonnes at 385 ppm scandium containing a total in-situ content of 16,500 tonnes of scandium oxide.

The objective of this drilling program is to provide further confidence in the scandium and cobalt resource as well as add to the resource inventory.

Platina is awaiting further drilling results in the coming weeks as part of its ongoing pre-feasibility study.

The company recently raised $7 million from a share placement to fast-track completion of the pre-feasibility study and to complete a definitive feasibility study by the end of 2017.

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Mon, 29 May 2017 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178421/platina-resources-expands-scandium-potential-at-owendale-178421.html
<![CDATA[News - Platina Resources bags $7.1M to fast-track cobalt, scandium project ]]> https://www.proactiveinvestors.com.au/companies/news/174504/platina-resources-bags-71m-to-fast-track-cobalt-scandium-project-174504.html Platina Resources (ASX:PGM) is well positioned to fast-track its cobalt and scandium project in New South Wales after receiving commitments to raise $7.1 million via a share placement at $0.135 each.

The funds will be applied towards the company’s Owendale Scandium, Cobalt, Nickel and Platinum Project in central New South Wales.

The share placement was many times oversubscribed, with strong demand received from institutional investors and existing shareholders.

Last month, Platina completed an updated resource estimate for the Owendale project.

Owendale now has a resource of 9 million tonnes at 0.15% cobalt and 335 ppm scandium, which is an increase of 5% in cobalt metal content and 4% in tonnage to 13,200 tonnes of contained cobalt.

Significantly, the Owendale resource now contains the highest combined scandium and cobalt mineralisation discovered in a laterite to date.

Platina is aiming to complete the pre-feasibility study during Q2 2017 and the definitive feasibility study by the end of 2017, including the development of a pilot plant.

The funds raised will also be directed towards drilling required to complete the feasibility studies, which will include infill drilling, drilling for tailings and drilling to update the cobalt resource.
   
The demand received for the raising reflects the potential of the Owendale Project to evolve into a world-class scandium, cobalt, nickel and platinum development.

Platina continues to undertake evaluations for either a small tonnage, high grade scandium development or for a potentially larger tonnage cobalt, platinum and scandium development.

The company’s share price has increased by circa 125% since the start of 2017, last trading $0.155.

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Thu, 09 Mar 2017 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/174504/platina-resources-bags-71m-to-fast-track-cobalt-scandium-project-174504.html
<![CDATA[News - Platina Resources to lift cash balance ]]> https://www.proactiveinvestors.com.au/companies/news/174345/platina-resources-to-lift-cash-balance-174345.html Platina Resources (ASX:PGM) 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 Thursday 9th March 2017, or earlier if an announcement is made to the market.

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Tue, 07 Mar 2017 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/174345/platina-resources-to-lift-cash-balance-174345.html
<![CDATA[News - Platina Resources upgrades cobalt, scandium resources at Owendale ]]> https://www.proactiveinvestors.com.au/companies/news/173099/platina-resources-upgrades-cobalt-scandium-resources-at-owendale-173099.html Platina Resources (ASX:PGM) has completed an updated resource estimate for its Owendale cobalt and scandium project in central New South Wales.

Owendale now has a resource of 9 million tonnes at 0.15% cobalt and 335 ppm scandium, which is an increase of 5% in cobalt metal content and 4% in tonnage to 13,200 tonnes of contained cobalt.

Significantly, the Owendale resource now contains the highest combined scandium and cobalt mineralisation discovered in a laterite to date.

The upgraded results for scandium have extended the areas to be targeted for infill and extension drilling at the Owendale North study area.

The project has the potential to significantly add to the cobalt and scandium resource with more drilling.

A planned drilling program is progressing through environmental approvals and is anticipated to commence late March to April.

Platina will continue to focus on the ongoing feasibility study at Owendale, which is expected to be completed in early 2018 and then move into the next stage of development.

The company’s share price has more than doubled since the start of 2017, last trading at $0.15.

Platina is well funded with a cash balance of $2.6 million as at 31 December 2016.

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Tue, 14 Feb 2017 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173099/platina-resources-upgrades-cobalt-scandium-resources-at-owendale-173099.html
<![CDATA[News - Platina Resources Ltd to increase cash position for scandium ]]> https://www.proactiveinvestors.com.au/companies/news/161035/platina-resources-ltd-to-increase-cash-position-for-scandium-69256.html Platina Resources Ltd (ASX:PGM) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

Platina is focused on the Owendale scandium project in New South Wales.

The halt will remain in place until the opening of trade on Monday 20th June 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 16 Jun 2016 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161035/platina-resources-ltd-to-increase-cash-position-for-scandium-69256.html
<![CDATA[News - Platina Resources raises funds for scandium feasibility studies ]]> https://www.proactiveinvestors.com.au/companies/news/161034/platina-resources-raises-funds-for-scandium-feasibility-studies-62822.html Platina Resources (ASX:PGM) has raised $404,000 through a private placement of shares priced at $0.06 to sophisticated investors.

This increases the total funds raised over the last month to $0.9 million following completion of the Share Purchase Plan that raised $500,000.

Proceeds will be used to continue its feasibility studies on its flagship Owendale Scandium and Platinum Project in central New South Wales.

The base case for the project is a simple, open-pit mining operation which will mine approximately 50,000 tonnes of ore per annum for treatment and concentration on site to produce 30 tonnes of scandium oxide at 99.9% purity.

This has an estimated capital cost of A$73.5 million with life of mine all-in-cash-costs estimated at US$466 (A$607) per kilo of scandium oxide.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 10 Jun 2015 09:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161034/platina-resources-raises-funds-for-scandium-feasibility-studies-62822.html
<![CDATA[News - Platina Resources advancing Scoping Study for New South Wales project ]]> https://www.proactiveinvestors.com.au/companies/news/161033/platina-resources-advancing-scoping-study-for-new-south-wales-project-61242.html Platina Resources (ASX:PGM) has been granted an ASX trading halt in relation to the Scoping Study for the company’s Owendale Project in central New South Wales.

The halt will remain in place until the earlier of the announcement being made or the start of trade on Tuesday, 17th March 2015.

Ownedale has a current resource of 520,000 ounces of platinum and 9,100 tonnes of scandium.

In January, the company completed hydrometallurgical testwork, a major part of the Scoping Study.

This returned excellent extraction of scandium (>85%), platinum (>80%) nickel (>95%) and cobalt (>99%) from High Pressure Acid Leach tests.

Platina has a heads of agreement with Chinese manufacturer Hunan Oriental Scandium Co. Ltd (HNOSC) to negotiate an offtake agreement and a supply, technology, processing and marketing agreement.

This includes an offtake agreement for the supply of 5 tonnes per annum of scandium oxide to HNOSC.

The company already has an agreement with Inner Mongolia Honfine Zirconium Industry Co Ltd for the proposed supply of 15 tonnes of scandium oxide per annum.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 13 Mar 2015 17:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161033/platina-resources-advancing-scoping-study-for-new-south-wales-project-61242.html
<![CDATA[News - Platina Resources to commence Scoping Study for Owendale ]]> https://www.proactiveinvestors.com.au/companies/news/161032/platina-resources-to-commence-scoping-study-for-owendale-58719.html Platina Resources (ASX:PGM) has commissioned SNC-Lavalin Australia to develop and manage a comprehensive hydrometallurgical testwork program for the extraction of scandium and associated metals of platinum, copper, cobalt and nickel from its Owendale Deposit in New South Wales.

The current program will provide the basis for a Scoping Study to investigate the initial economic attractiveness of several hydrometallurgical options for the development of the resource.

Other options to be investigated include direct shipping of ore to a processing plant in China, or a partial processing of a concentrate in Australia.

The hydrometallurgical test work program is scheduled to commence on 5 November 2014 and will take 7 weeks to complete.

Work will include a range of leaching options including Solvent Extraction tests and will be used to investigate the preliminary economics and viability of several project options and identify which of these are the most attractive to take to the pre-feasibility and final feasibility stage.

Other aspects of the Owendale project such as environmental baseline studies and requirements for a mining lease application are currently being reviewed will be formalised and advised in due course.

Platina is currently progressing negotiations with two Chinese manufacturers who have signed Heads of Agreement, and the commencement of the Scoping Study at Owendale is a major milestone towards development of the deposit.

The Owendale Project hosts an Indicated and Inferred Mineral Resource of 24 million tonnes of scandium grading 384ppm scandium at a cut-off of 300ppm, and contains a total in-situ content of 9,100 tonnes of scandium metal or 14,000 tonnes of scandium oxide.

Owendale is the world’s largest, highest-grade laterite hosted scandium deposit boasting a low cost, simple mining operation due to the resource being within 55 metres of surface and close to existing infrastructure.

Owendale has the potential to be a scandium price-setter and enable introduction of wider applications due to a lower scandium price.

Demand is growing for scadium in aerospace components, sports equipment, electronics, solid oxide fuel cells, high-power metal halide lamps and lasers.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 05 Nov 2014 12:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161032/platina-resources-to-commence-scoping-study-for-owendale-58719.html
<![CDATA[News - Platina Resources to divulge offtake for Owendale ]]> https://www.proactiveinvestors.com.au/companies/news/161031/platina-resources-to-divulge-offtake-for-owendale-56975.html Platina Resources (ASX:PGM) will look to possibly divulge details of offtake for its Owendale platinum, scandium, nickel and cobalt Project when it exits a trading halt, possibly before Wednesday, 20 August 2014.

The share price has been rearing, up 240% since July as the market likes what it sees.

Recently, Platina signed a Heads of Agreement with Chinese manufacturer Inner Mongolia Honfine Zirconium Industry Co Ltd for supply (under an Off-take Agreement) of 15 tonnes per annum of scandium oxide.

Owendale is located in central New South Wales, northeast of Parkes and 350 kilometres west of Sydney.

The project is one of Australia’s advanced new platinum development opportunity and the world’s largest,  highest-grade laterite-hosted scandium deposit.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 18 Aug 2014 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161031/platina-resources-to-divulge-offtake-for-owendale-56975.html
<![CDATA[News - Platina Resources soars on Chinese offtake deal ]]> https://www.proactiveinvestors.com.au/companies/news/161030/platina-resources-soars-on-chinese-offtake-deal-56523.html Platina Resources (ASX:PGM) shares have more than quadrupled in a week to an intra-day high of $0.25 today following Monday's announcement of an offtake deal for its Owendale scandium project in New South Wales.

Shares last traded at $0.22.

Platina signed a Heads of Agreement with Chinese manufacturer, Inner Mongolia Honfine Zirconium Industry Co (Honfine), to negotiate both an Off-take Agreement and a Supply, Technology, Processing and Marketing Agreement.

Platina and Honfine will negotiate an off-take agreement for the supply of 15 tonnes of scandium oxide at a 99.9% purity grade and at a commercially acceptable price.

Whilst pricing and other terms are yet to be agreed, over the past four years scandium oxide at 99.9% purity has sold within a range of USD$1,400-3,700 per kilogram.

The stated intention is that Platina and Honfine will aim to finalise and execute binding agreements within the next three months.

In addition, both companies will evaluate the viability of transporting scandium concentrates grading 1000ppm scandium or higher from Australia to China to be processed at Honfine’s factory located in Inner Mongolia.

Currently, Platina is working on a metallurgical test work program to produce high grade scandium concentrate from the Owendale project which could reduce capex and opex.

Platina and Honfine also intend to collaborate on establishing the cheapest processing technology required to produce the desired scandium products from Owendale ore.

The company is capitalised at around $16 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 25 Jul 2014 18:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161030/platina-resources-soars-on-chinese-offtake-deal-56523.html
<![CDATA[News - Platina Resources and Exoma Energy among ASX % gainers ]]> https://www.proactiveinvestors.com.au/companies/news/161029/platina-resources-and-exoma-energy-among-asx-gainers-56520.html Friday’s leading ASX % Gainers in afternoon trade.

NameCodeLastChangeVolume Platina Resources Options Sep15 ASX:PGMO $0.110 103.704% 1,159,268 SWW Energy ASX:SWW $0.007 75% 100 Platina Resources ASX:PGM $0.200 73.913% 507,000 Buxton Resources Options Jan16 ASX:BUXO $0.260 62.5% 504,139 Castle Minerals ASX:CDT $0.039 56% 452,385 Exoma Energy ASX:EXE $0.023 53.333% 73,383,207 Coalbank ASX:CBQ $0.003 50% 100,000 Explaurum ASX:EXU $0.006 50% 221,701 Otis Energy ASX:OTE $0.003 50% 613,954 Intermoco Corp ASX:INT $0.030 50% 7,858,394

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 25 Jul 2014 17:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161029/platina-resources-and-exoma-energy-among-asx-gainers-56520.html
<![CDATA[News - Platina Resources may shine with strong global platinum demand ]]> https://www.proactiveinvestors.com.au/companies/news/161028/platina-resources-may-shine-with-strong-global-platinum-demand-55322.html Platina Resources' (ASX:PGM) Owendale project in New South Wales is Australia’s most advanced new platinum development opportunity with around 287,000 ounces of contained platinum.

Platina could have Australia’s first platinum mine by 2015.

Owendale currently hosts a total in-situ content of 0.52 million ounces of platinum metal and 9,100 tonnes of scandium.

Platina is also continuing its evaluation of the Skaergaard Gold and Platinum Group Metals project in Greenland.

Skaergaard has an Indicated and Inferred Resource of 202 million tonnes at 0.88g/t gold and 1.33g/t palladium.

Palladium has risen to its highest level since August 2011 as supply has dwindled due to strikes at some of the major producing mines.

To highlight just how hard it is to discover platinum, it 30 times rarer than gold, occurring as only 0.003 parts per billion in the earth’s crust.

Close to 75% of global production comes from South Africa, with recent strikes within the country hitting platinum production, leading to higher prices.

Russia produces around 15%, with the country also having internal obstacles to increased production. Zimbabwe produces around 6%.

There are many varying technology uses for platinum, such as catalytic converters, laboratory equipment, electrical contacts and electrodes, platinum resistance thermometers and dentistry equipment.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 30 May 2014 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161028/platina-resources-may-shine-with-strong-global-platinum-demand-55322.html
<![CDATA[News - Platina Resources shares continue upward momentum ]]> https://www.proactiveinvestors.com.au/companies/news/161027/platina-resources-shares-continue-upward-momentum-54203.html Platina Resources (ASX: PGM) shares continue their upward March with today’s 31.67% gain to $0.079 capping a gain of 172% from the close of $0.029 on 17 January 2014.

This has been fuelled in part by the rise in platinum prices this week to US$1,420 per ounce.

The company has started a diamond drilling program at its Owendale Platinum and Scandium Project in central New South Wales to obtain high integrity samples for metallurgical testwork.

Both laterite samples, one comprising high-grade platinum mineralisation and the second, high-grade scandium mineralisation, will be taken from within the defined Owendale Indicated and Inferred platinum and scandium resource.

Owendale currently hosts a total in-situ content of 0.52 million ounces of platinum metal and 9,100 tonnes of scandium.

Should the testwork provide positive results, the Company will consider an immediate review of the economics of developing the higher grade component of the Owendale platinum resource to produce marketable amounts of both platinum and scandium.

Platina is also continuing its evaluation of the Skaergaard Gold and Platinum Group Metals project in Greenland.

Skaergaard has an Indicated and Inferred Resource of 202 million tonnes grading 0.88 grams per tonne gold and 1.33g/t palladium.

The project remains a major assignment within the company’s portfolio and the review in progress will attempt to determine the best way forward for further development of the project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 08 Apr 2014 17:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161027/platina-resources-shares-continue-upward-momentum-54203.html
<![CDATA[News - Platina Resources raising capital, owns Australia’s newest platinum opportunity ]]> https://www.proactiveinvestors.com.au/companies/news/161026/platina-resources-raising-capital-owns-australias-newest-platinum-opportunity-52620.html Platina Resources (ASX: PGM) is heading to market with a capital raising. The ASX this morning has granted the company a trading halt, with its shares placed in pre-open.

Platina has a very interesting project in the wholly-owned Owendale Platinum, Scandium, Nickel and Cobalt Project in Australia, and also has interests in Greenland.

Owendale is located in central New South Wales, and is Australia’s most advanced new platinum development opportunity and the world’s largest, highest-grade laterite-hosted scandium deposit.

The halt will remain in place until the opening of trade on Tuesday 11th February 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 07 Feb 2014 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161026/platina-resources-raising-capital-owns-australias-newest-platinum-opportunity-52620.html
<![CDATA[News - Platina Resources intersects broad platinum zones at Owendale, New South Wales ]]> https://www.proactiveinvestors.com.au/companies/news/161025/platina-resources-intersects-broad-platinum-zones-at-owendale-new-south-wales-50278.html Platina Resources (ASX:PGM) has completed a 21 hole drilling program, intersecting broad platinum zones and visible copper at Owendale in New South Wales.

A 25 metre intersect at 0.27 grams per tonne platinum from 27 metres to end of hole was returned, indicating the potential existence of a zone or structure hosting primary platinum mineralisation continuing at depth.

Downdip extensions of primary platinum mineralisation were identified at the Cincinatti and Milverton prospects with 1 metre at 2 grams per tonne platinum from 45 metres.

Interestingly, an additional 10 metres of visible native copper was observed from 60 metres.

Additional laterite-hosted platinum mineralisation has been identified and will be added to the current indicated and inferred resource of 31 million tonnes at 0.52 grams per tonne platinum for 519,000 ounces.

During drilling in May, a number of fresh rock platinum intercepts were made, including the highest grade ever recorded from Owendale of 1 metre at 24 grams per tonne platinum from 26 metres.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 18 Nov 2013 13:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161025/platina-resources-intersects-broad-platinum-zones-at-owendale-new-south-wales-50278.html
<![CDATA[News - Platina Resources upgrades platinum, scandium resources at Owendale, NSW ]]> https://www.proactiveinvestors.com.au/companies/news/161024/platina-resources-upgrades-platinum-scandium-resources-at-owendale-nsw-48738.html Platina Resources (ASX: PGM) is expected to trade higher today following a new resource estimate from Golder Associates of Brisbane for its Owendale platinum-scandium-nickel-cobalt project in central New South Wales.

The total Indicated and Inferred platinum resource now stands at 31 million tonnes at 0.52 grams per tonne platinum, 0.15% nickel and 0.05% cobalt for 520,000 platinum ounces, using a cut-off of 0.3 grams per tonne platinum

The total scandium resource has been upgraded to 24 million tonnes at 380 parts per million scandium for 9100 tonnes of scandium metal at a 300 part per million cut-off grade.

The value of the nickel and cobalt mineralisation contained in the Owendale laterite has been estimated to be worth almost as much as the associated platinum at prevailing metal prices.

This allowed the platinum cut-off grade to be reduced to 0.3 grams per tonne, contributing an additional 142,000 ounces of platinum.

Further drill testing of platinum mineralisation in the laterite and underlying primary rocks has been completed with assays to be released in due course.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 03 Oct 2013 12:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161024/platina-resources-upgrades-platinum-scandium-resources-at-owendale-nsw-48738.html
<![CDATA[News - Platina Resources delivers high grade platinum and scandium assays at Owendale in NSW ]]> https://www.proactiveinvestors.com.au/companies/news/161023/platina-resources-delivers-high-grade-platinum-and-scandium-assays-at-owendale-in-nsw-45605.html Platina Resources (ASX: PGM) has completed a 102 hole, 3325 metre reverse circulation drilling program at its Owendale precious metal project in New South Wales, returning significant platinum and scandium assays.

New zones of platinum mineralisation have been identified at Cincinatti and Milverton, with the highest platinum assay to date of: 1 metre at 24g/t platinum from 26 metres.

The additional platinum and scandium mineralisation will be added to the current indicated and Inferred platinum resource of 12.7 metres at 0.7 platinum for 287,000 ounces, using a 0.4 g/t platinum cut-off.

A new resource estimation is slated to commence next month and is expected to be finalised by the end of the September quarter.

Increasing the prospectivity of the project, targets tested outside the existing resource defined new zones of platinum and scandium mineralisation.

The Owendale Project is a laterite hosted platinum deposit, representing Australia’s most advanced new platinum development. The project also contains the world’s highest grade laterite scandium deposit.


The Owendale project located in a known mining district

The main Owendale project area contains weathered mafic/ultramafic rocks underlying a shallow laterite deposit up to 55 metres thick, which hosts significant amounts of isoferroplatinum (a platinum and iron alloy), scandium, and lesser amounts of nickel, copper and cobalt.

Metallurgical results are due in the next month or so, which will provide details of expected platinum and scandium recovery.

The latest round of drilling also outlined further areas of platinum and scandium prospectivity, identifying future drilling targets. Of particular interest is the large number of new fresh rock platinum intercepts.

The project is located 350 kilometres west of Sydney in a known mining district, and is accessible via existing roads, and has electricity on site.

Importantly - initial environmental baseline studies have shown no obstacle to mining.

The economic and technical viability of a combined platinum and scandium mining operation has been confirmed, with existing indicated mineral resources capable of supporting an average mining rate of 6.9 Mtpa for 3 years.

Estimated capital expenditure to bring the mine into production is $222 million, with annual operating costs of AUD$62 million for the first 3 years, reverting to $42 million once platinum processing ceases.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 16 Jul 2013 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161023/platina-resources-delivers-high-grade-platinum-and-scandium-assays-at-owendale-in-nsw-45605.html
<![CDATA[News - Platina Resources begins resource extension drilling at Owendale ]]> https://www.proactiveinvestors.com.au/companies/news/161022/platina-resources-begins-resource-extension-drilling-at-owendale--42261.html Platina Resources (ASX: PGM) has begun a 5,000 metre reverse circulation drilling program at its Owendale Platinum and Scandium Project in central New South Wales to increase the Indicated and Inferred platinum Resource.

The project represents Australia’s newest platinum discovery and the world’s most high grade scandium deposit.

Owendale is located 12 kilometres north of the Fifield Deep Lead, Australia’s only historical platinum mine.

The drilling program will also test a number of targets outside the existing Resource, including immediate lateral extensions of the deposit where platinum has been recorded in historic drilling.

The current platinum Indicated and Inferred Resource is 12.7 million tonnes at 0.7 grams per tonne (g/t) for 287,000 ounces.

Owendale also hosts a scandium Inferred and Indicated Resource of 10.1 million tonnes at 340g/t for 3,400 tonnes, using a 200 g/t cut-off.

Mineralisation is hosted in lateritic rocks that extend from 2 metres to 55 metres beneath the surface.

The platinum and scandium are intimately associated with one another, and the majority of the scandium resource is coincident with the platinum resource.

The two main deposits are Owendale North and Cincinnati which are less than 1 kilometre apart.

The majority of these resources are in the higher confidence Indicated category and support a >40-year mine life.

Drilling, which began on 4 April, is expected to take around two months to complete, subject to weather conditions, with around 2,209 metres across 66 drill holes completed so far.

The first hole in the program was drilled to collect a sample for metallurgical testwork to assess the amenability to the treatment route.

Final results from the drilling program and metallurgical testwork are expected to be reported in the June 2013 quarter.

Platina plans to fast track the development of the Owendale platinum and scandium resources due to the project’s potential to become Australia’s sole platinum mine.

Also, advances in the processing of scandium could unlock the potential for the metal to contribute significantly toward project economics.

Platina had a cash position of around A$2.45 million at the end of January 2013. The company also recently raised a further $938,849 from a non‐renounceable entitlement offer.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 19 Apr 2013 14:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161022/platina-resources-begins-resource-extension-drilling-at-owendale--42261.html
<![CDATA[News - Platina Resources expands Western Australia exploration portfolio ]]> https://www.proactiveinvestors.com.au/companies/news/161021/platina-resources-expands-western-australia-exploration-portfolio-39275.html Platina Resources (ASX: PGM) is expanding its Western Australia exploration portfolio with the application for five tenements that are prospective for platinum group elements and gold.

Once granted, the tenements covering about 1,520 square kilometres in the State’s southeast, will add three new projects to the company’s previous and specialty metals portfolio.

The Wylie Project over licence applications E69/3111 and E69/3112 is a large buried coincident magnetic and gravity feature within the southern part of the Albany Fraser Orogen.

This is interpreted by Platina to be a 72 square kilometre mafic intrusive complex with potential for a large nickel, copper and PGE deposit analogous to the world-class examples of Vale’s Voisey’s Bay in Canada, and the Pechenga and Noril’sk deposits in Russia.

Another two applications - E28/2280 and E28/2281 - cover the Roundill Project about 100 kilometres southeast of Kalgoorlie.

Roundill has the has potential for large orogenic ‘lode’ gold deposits within mafic volcanics/sediment-hosted and shear-hosted environments analogous to the Gwalia and Tower Hill gold mines within the Eastern Goldfields region.

More than 40km of strike length of Banded Iron Formation (BIF) has also been interpreted to occur mostly beneath cover within the project area. Many large gold deposits are hosted within BIF in the Eastern Goldfields of Western Australia.

This has being poorly tested by previous exploration and Platina will carry out an exploration program to evaluate the horizon as a priority.

The third project, the Rason Project in E69/3094) is located about 70 kilometres northeast of the Tropicana Gold Project.

The NE strike continuation of similar rock units to those which host the Tropicana gold deposit and the nearby Tropicana East Project have been interpreted to occur beneath cover within this project.

Platina anticipates a program comprising detailed geophysics and drilling once this tenement is granted.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 07 Feb 2013 12:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161021/platina-resources-expands-western-australia-exploration-portfolio-39275.html
<![CDATA[News - Platina Resources grows cash position with A$1.27M R&D rebate ]]> https://www.proactiveinvestors.com.au/companies/news/161020/platina-resources-grows-cash-position-with-a127m-rd-rebate--39082.html Platina Resources (ASX: PGM) has received a A$1.27 million cash refund under the Federal Government’s Research & Development Incentive Scheme.

The return relates to costs of research and development conducted by the company during the 2012 financial year, essentially on the Owendale Platinum and Scandium Project in New South Wales.

Platina now has $2.45 million in cash to advance its Owendale Project and other precious metals projects.

Owendale is Australia’s newest platinum resource and the world’s highest grade lateritic scandium deposit.

Platina plans to fast‐track development of the project, which hosts an Indicated and Inferred Resource of 12.7 million tonnes at 0.7 grams per tonne (g/t) for 287,000 platinum ounces and 10.1 million tonnes at 340g/t for 3,400 scandium tonnes.

Consideration is being given to increasing the Indicated and Inferred Resource for platinum by further drilling, and marketing and other economic studies, especially on the scandium component of the mineralisation, are expected to begin in the March quarter.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 04 Feb 2013 13:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161020/platina-resources-grows-cash-position-with-a127m-rd-rebate--39082.html
<![CDATA[News - Platina Resources announces results of Scoping Study for Owendale platinum, scandium JORC Resource ]]> https://www.proactiveinvestors.com.au/companies/news/161019/platina-resources-announces-results-of-scoping-study-for-owendale-platinum-scandium-jorc-resource-33314.html Platina Resources (ASX: PGM) has announced the findings of its scoping study for potential open-pit mining of platinum and scandium at its Owendale Project in New South Wales.
 
The Owendale Project is located in central New South Wales, approximately 80 kilometres northeast of Parkes, and 350 kilometres west of Sydney. It is Australia’s highest-grade scandium deposit, and one of the country’s largest scandium repositories.

The study shows that the current platinum and scandium Indicated mineral resource at Owendale could deliver an excellent cash-flow over a long life span. With production targeted to commence in the third quarter of 2015, the study highlights the economic and technical feasibility of a combined platinum and scandium mining operation with a life of more than 40 years:

-Estimated capital expenditure of A$222 million;
-Estimated annual operating costs of A$62 million for the first 3 years, reverting to approximately A$42 million once platinum processing ceases;
-Gravity recovery for platinum, and atmospheric tank leaching for scandium;
-Only indicated platinum and scandium Mineral Resource has been incorporated into the study;
-NPV of A$149 million (pre-tax, 100% equity, 10% discount rate, real terms); and
-IRR of 15.0% (pre-tax).

The study analysed three different options: standalone platinum and scandium operations and a combined platinum and scandium operation.  The combined platinum and scandium option deemed the most desirable by the Company is highlighted as being economically feasible by the scoping study. This allows the Owendale Project to proceed toward a pre-feasibility study.

Results indicate that existing platinum and scandium Indicated Mineral Resource can support an average mining rate of 6.9 Mt per annum for 3 years. After 3 years the stockpiled scandium-bearing laterite will continue to be processed:

-0.9 tonnes of platinum produced per annum for 3 years
-40 tonnes of scandium oxide produced per annum for 41 years

The proposed gravity process for the recovery of platinum will produce a concentrate grading of approximately 340 grams per tonne of platinum.   Although this is already a saleable product, Platina Resources intends to conduct further metallurgical test work in order to determine a method for producing a concentrate grading greater than 1,000 grams per tonne of platinum.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 11 Sep 2012 16:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161019/platina-resources-announces-results-of-scoping-study-for-owendale-platinum-scandium-jorc-resource-33314.html
<![CDATA[News - Platina Resources jumps 18.18% in today’s trade ]]> https://www.proactiveinvestors.com.au/companies/news/161018/platina-resources-jumps-1818-in-todays-trade-24224.html Platina Resources’ (ASX: PGM) shares have jumped 18.18% to an intraday high of A$0.195 in today’s trade, on 27,500 trades.

In November 2011 Platina announced maiden platinum and scandium resources for the company’s Owendale Project in New South Wales.

The platinum resource comprised 13.1 million tonnes at 0.7 grams per tonne (g/t) platinum, while the scandium resource was 4.8 million tonnes at 344g/t scandium.

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Tue, 17 Jan 2012 16:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161018/platina-resources-jumps-1818-in-todays-trade-24224.html
<![CDATA[News - Platina Resources delivers maiden platinum, scandium JORC Resource at Owendale ]]> https://www.proactiveinvestors.com.au/companies/news/161017/platina-resources-delivers-maiden-platinum-scandium-jorc-resource-at-owendale-21658.html Platina Resources (ASX: PGM) has achieved a maiden JORC Resource of 13.1 million tonnes at 0.7 grams per tonne (g/t) platinum (293,000 ounces) at a 0.4g/t platinum cut-off for its 100% owned Owendale Platinum and Scandium Project.

A total of 5.2 million tonnes at 0.8 g/t platinum is in the Indicated category, and 7.8 million tonnes at 0.6g/t platinum is Inferred. A total of 46% of the platinum resource falls within the Indicated category.

The project, located in central New South Wales, also contains an Inferred Resource for scandium of 4.8 million tonnes at 344 g/t Sc (1,700 tonnes) at a 200 parts per million (ppm) cut-off.

Significantly, the entire platinum and scandium resource estimate is contained within the weathered profile and is situated less than 50 metres deep and would be amenable to mining by open cut methods.

The company is now looking at fast tracking the project with further development activities that could ultimately lead toward early production.

The Resource estimation was calculated by consultants Snowden using 2011 drilling, and some historic drill-holes and a further Resource update is to occur in January, 2012.

The Owendale resource estimate comprises three separate deposits – Owendale North, Cincinnati and Milverton. A four tonne bulk sample is being prepared for metallurgical test work.

Platina Resources believes the project has potential to become Australia’s sole platinum mine, with the added upside of coincidentally containing one of the world’s highest grade scandium resources.

Although further investigations need to be carried out into the demand and marketing issues of scandium, this metal may have the potential to contribute towards the projects economics.

Interestingly, Australia’s only historical platinum production came from alluvial mine workings nearby to the township of Fifield, located 10 kilometres south of the Owendale Project. Production commenced in the 1880’s with an estimated 25,000 ounces of platinum produced.

A significant portion of the scandium resource is expected to be converted to Indicated when the next update occurs in January.

Over the next few months, the company also anticipates updating the resource estimate at its Skaergaard Project in Greenland.

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Mon, 07 Nov 2011 11:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161017/platina-resources-delivers-maiden-platinum-scandium-jorc-resource-at-owendale-21658.html
<![CDATA[News - Platina Resources 39% intra-day share spike prompts ASX questions ]]> https://www.proactiveinvestors.com.au/companies/news/161016/platina-resources-39-intra-day-share-spike-prompts-asx-questions-12771.html With an intra-day share price of $0.55, 39% higher than the $0.395 close on the last trading day of 2010, Platina Resources (ASX: PGM) has received a price query from the ASX.

The company said it is not aware of any material information that has not been released, which may help to explain the sudden investor interest, but did point towards some positive reports about the company published in the print media yesterday, Monday 3 January.

An extract from the article, published in The Australian, said:

'Between its Greenland and West Australian projects, Platina has a JORC resource of 10 million ounces of gold, 30 million ounces of palladium, nearly 3 million ounces of platinum and 80,000 ounces of rhodium.'

The price of gold, palladium and platinum have all risen strongly in the past year, with the article indicating the recent rally in these precious metals was not reflected in the current share price.

Platina shares in afternoon intra-day trade last changed hands at $0.53, or 34% stronger on the day.

 

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Tue, 04 Jan 2011 15:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161016/platina-resources-39-intra-day-share-spike-prompts-asx-questions-12771.html
<![CDATA[News - Platina Resources in a trading halt pending capital raising announcement ]]> https://www.proactiveinvestors.com.au/companies/news/161015/platina-resources-in-a-trading-halt-pending-capital-raising-announcement-12590.html The ASX has granted a trading halt request to Platina Resources (ASX: PGM), pending an announcement by the company of further details regarding a proposed capital raising.

Platina has not yet announced where the potential new inflow of funds will be allocated, but last month the company announced a strategic review of the Skaergaard project due to new assays and a firming palladium price.

The review will form part of a new scoping study, which the company anticipates to receive in the first quarter of 2011, considering the economic impact of mining the Palladium Zone, which contains 6.4 million palladium ounces.

The Skaergaard inferred resource estimate was verified by AMC Consultants in 2009, and calculated by Roscoe Postle Associates Inc in 2005.

This Palladium Zone, which sits below the Gold Zone, has previously been considered by the company as uneconomic to mine, leaving the project completely dependent on the gold mineralisation.

Platina is also looking to list on the Toronto Stock Exchange in 2011.

 

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Wed, 15 Dec 2010 13:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161015/platina-resources-in-a-trading-halt-pending-capital-raising-announcement-12590.html