JP Equity Partners published a Desk Note on Blackstone earlier this month. Following is an extract from the Desk Note:
Blackstone’s core focus is to actively explore the advanced Ta Khoa Nickel Project (TKNP) in Northern Vietnam, the project lies within a premier nickel province with US$136 million of capital expenditure to date including the Ban Phuc nickel mine.
The modern Ban Phuc nickel mine was successfully operated from 2013-16 before being placed into care and maintenance after enduring the lowest nickel prices of the past 15 years.
Nickel price increase of 20% in July
The TKNP is a 150km² land package hosting more than 25 advanced stage massive sulphide vein (MSV) targets and large disseminated sulphide (DSS) targets previously undrilled or ineffectively tested thanks to a production focus. Blackstone has highlighted the significant potential to mine the shallow, bulktonnage DSS zones with diamond drilling currently underway to aid resources evaluation at the large Ban Phuc DSS zone.
Blackstone’s battery mineral focussed strategy is intent on supplying downstream nickel and cobalt product to Asia’s growing lithium ion battery industry. The board and management team have a proven track record of mineral discovery and corporate success with surging prices reviving the nickel industry.
- Maiden drilling results from the Ban Phuc disseminated sulphide diamond drilling program.
- Follow up IP survey target diamond drilling campaign at Ban Phuc disseminated sulphides.
- Maiden resource estimates for Ban Phuc nickel deposit.
- Drill testing of advanced MSV and DSS targets across the Ta Khoa Nickel Project.
- Downstream processing infrastructure potential at Ban Phuc nickel mine.
- Ban Phuc nickel mine restart plans & scoping study.