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Hardey Resources Ltd

Hardey Resources receives CSA Global report on vanadium mining projects

As part of the review the board is assessing the company’s current asset portfolio to determine the best strategy going forward.

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The junior company has a market capitalisation of $7.95 million

Hardey Resources Limited (ASX:HDY) has received a draft report from CSA Global on its strategy and operations following a desktop technical review of its projects and acquisitions.

These include Nelly Vanadium Pty Ltd and the Vanadium Mining Pty projects.

The company is reviewing its contents and will consider the technical and commercial aspects of the report to determine whether the company should proceed with the acquisitions, which may refocus its business in the resource space.  

Hardey anticipates presenting the outcome on the Vanadium Project to shareholders in a general meeting once regulatory approvals have been received.

READ: Hardey Resources board reviews proposed vanadium company acquisitions

The company engaged Cadre Geology and Mining to undertake a field reconnaissance program at its Grace Project in WA’s Paterson Range, completed on May 12, 2019.

Hardey is also reviewing past exploration data to determine the future exploration program for the project and notes heightened interest in this area from other explorers and major mining companies.

An exploration licence application adjacent to the Grace project is being progressed with negotiations under way on a land access and mineral exploration agreement with the Western Desert Lands Aboriginal Corporation.

READ: Hardey Resources undertaking comprehensive review to determine ideal strategy

A data review and field reconnaissance programs are also planned for several of the granted exploration licences in the Pilbara and the Murchison, to ensure compliance with the statutory activity, reporting and expenditure requirements of the titles.

Hardey is also continuing to compile and review previous exploration data for its Burraga Project in NSW in order to plan future exploration work.

Earlier this week the company committed to a director nomination process allowing shareholders with more than 3 million shares to nominate a director for review and possible appointment.

It has appointed Stanton Chase executive recruiter Tony Taylor to review and adjudicate the nominated directors, along with the interim directors who intend to nominate for re-election to determine the outcome.

Quick facts: Hardey Resources Ltd

Price: $0.00

Market: ASX
Market Cap: $7.95 m
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