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Blackstone Minerals substantial shareholder Delphi ups holding to 17.17%

The company’s Ta Khoa Nickel project is well positioned to become a low-cost nickel sulphate producer for the Asia-Pacific electric vehicle lithium-ion battery market.

Blackham Resources Ltd - Blackstone Minerals substantial shareholder Delphi ups holding to 17.17%
Blackstone is a battery and precious metals exploration and development company

Blackstone Minerals Ltd (ASX:BLK) substantial shareholder Delphi Unternehmensberatung AG continues to show confidence in the company’s nickel strategy, lifting its stake to 17.17%.

The German-based investor, which has established substantial interests in a number of Australian junior resources companies, now holds almost 33.049 million Blackstone shares.

Delphi has purchased 2,173,747 shares in various on-market transactions between November 13, 2019, and March 6, 2020, at prices ranging from 10.5 cents to 17.23 cents per share.

Production plans in Vietnam

Blackstone is confident that the existing infrastructure in place at its Ta Khoa Nickel Project in Vietnam gives it a head start for project development.

The company has an option to purchase 90% of the existing Ban Phuc mining leases and deposits at Ta Khoa previously operated by Asian Mineral Resources.

This would include 34.8 square kilometres of exploration and mining leases as well as a well-maintained 450,000 tonnes per annum processing plant connected to local hydro grid power, a fully permitted tailings facility, a 250-person camp and an assay lab.

The mine facilities were built to international standards in 2013 for US$136 million.

There is potential for the company to use existing infrastructure for open-pit or underground mine access at the site, and the company is evaluating bulk mining options.

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ASX:BSX
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Market Cap: $38.04 m
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