December 21, 2022
Blackstone Minerals Ltd. (ASX:BSX, Not Rated, Timothy Lee) announced a project update at its 90%-owned Ta Khoa Ni project in northern Vietnam. Blackstone has completed its pilot-scale test program, producing high-purity Ni, Co, and Cu products, and the results will be used towards its ongoing DFS. The program lasted one-year and used more than seven tonnes of material, including concentrate from the company’s past-producing Ban Phuc Ni mine in Vietnam, supplemented by third-party concentrates sourced through Trafigura Pte Ltd. The program was completed in Western Australia, and Blackstone has applied for a A$3.7M tax rebate through a government program that is focused on encouraging R&D. Overall, the outcome is positive, demonstrating that the company’s flowsheet works to produce the desired battery precursor materials while achieving industry leading ESG standards. As well, results have met or exceeded expectations from Blackstone’s PFS, as nickel and cobalt sulphate has reached battery grade specification, and that copper cathode has met 4N specification. Moving ahead, Blackstone stated that a key objective is to develop a flowsheet that produces the desired battery precursor materials, and that has industry leading ESG credentials. As such, the company received a third-party assessment confirming that the processing plant would have the lowest emitting flowsheet in its industry, at 9.8kg of CO2/kg of precursor. Lastly, Blackstone noted that it has hosted five site visits from potential stakeholders, in search for a partner for the downstream processing plant. We expect a steady stream of catalysts sliding into 2023, as DFS’ for both the Ta Khoa mining project and the downstream processing plant are nearing completion and as drilling is ongoing at Ta Khoa (read more). Read more
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Blackstone Minerals Ltd – ASX:BSX
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