Sign up Australia
Proactive Investors - Run By Investors For Investors

Globe Metals & Mining has exclusive prospecting licence for niobium in Malawi renewed

The company’s shares have jumped 23% on news of the renewal for a further two years.
Malawi flag superimposed on a hand
The prospecting licence is next to the company’s mining lease application

Globe Metals & Mining Limited (ASX:GBE) shares jumped on news that an exclusive prospecting licence for the Kanyika Niobium Project in Malawi has been renewed.

The company is a leading ASX gainer today with shares up 23% to 1.6 cents.

Malawi’s Minister of Natural Resources, Energy and Mining has formally notified the company the EPL0421/15 has been renewed for a further two years from May 22, 2018.

Licence covers 308 square kilometres

The licence covers about 308 square kilometres and is adjacent to the company’s mining lease application.

Globe lodged this application, which covers in part the area previously covered by EPL1088/05, with the Ministry on December 5, 2014.

The application has been approved subject to the completion of a development agreement, which remains incomplete.

Assessing Kanyika options

In regards to the Kanyika project, the company continues to negotiate with regulators, stakeholders and parties to identify opportunistic development options.

Globe is considering project financing, partnership and design options.

Revised engineering studies

Work has also started on a revised engineering study to incorporate the findings and outcomes of pilot plant work undertaken and other necessary engineering design changes.

This is aimed at finalising the technical components of a feasibility study to support project funding initiatives.

The company has engaged specialists to revise and update the previous engineering study.

Use of niobium in rechargeable batteries is an exciting development for niobium and just one of many new applications that has been developed or proposed for the metal.

Globe has been investigating opportunities for participation and involvement in the electric vehicle battery industry.

This follows Toshiba’s announcement that its next-generation SCiBTM rechargeable battery will utilise niobium as a key component.

View full GBE profile View Profile

Globe Metals & Mining Ltd Timeline

Related Articles

Samples from the Erebor prospect at Little Gem
August 16 2018
The Erebor discovery indicates that the Little Gem project in British Columbia may host multiple deposits.
December 13 2017
The Toronto-listed firm's main asset is the Relief Canyon Mine in Pershing County, Nevada..
Drill rigs in Mongolia
May 04 2018
The recent discovery hole at Zaraa intersected 606 metres at 0.36% copper and 0.32 g/t gold.

No investment advice

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

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

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

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

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

© Proactive Investors 2018

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

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