Global Energy Metals reveals “outstanding” metal recovery rates from Millennium project (GEMC)

Global Energy Metals (TSX.V:GEMC) is primed to take one of its flagship projects into the next stage of development after confirming “exceptional” metal recovery results on Monday.

Using a mineralised sample taken from its Millennium project in Queensland, Australia, the Canadian miner achieved flotation recovery rates of metals to concentrates of 93% cobalt, 93% copper, and 80% gold.  Following this, Cobalt Blue Holdings, the firm that completed the metallurgical testwork– was able to extract 90% of the cobalt, 95% of the copper, and 90% of the gold in the cobalt concentrate through leaching.

As a result of these high rates, Cobalt Blue has recommended that a preliminary economic assessment should be completed on Millennium. This will enable Global Energy to evaluate total project costs and determine whether the asset should be advanced to the pre-feasibility stage.

“The metallurgical results presented here continue to demonstrate the significant value of our wholly-owned Millennium project,” said Global Energy’s president and chief executive Mitchell Smith on Monday. “We are especially pleased with the performance of Cobalt Blue who have established that we can produce a clean, saleable copper-gold flotation concentrate and a separate cobalt concentrate which can be successfully treated using the Cobalt Blue Process for recovering cobalt, copper and gold.”

“These test results are an important next step in accomplishing Global Energy’s strategy to secure the supply of minerals critical to national security and economic growth. We look forward to incorporating these results into future studies to quantify the added value to the project.”

Millennium is strategically located around 20 kilometres from the Cudeco Rocklands mine site and refinery and within an area called Mount Isa, which boasts a booming mining economic and plenty of infrastructure. Global Energy also owns two neighbouring, highly-prospective exploration stage properties in the area called Mount Dorothy and Cobalt Ridge, giving it one of the largest total land positions of its peers in Mt Isa.

In Monday’s update, the firm said the processes used by Cobalt Blue to achieve the strong metallurgical results at Mt Isa could potentially be adapted to treat cobalt-copper-gold sulphides common across both of these assets. In doing this, the organisation would potentially be supported by new initiatives recently announced by the Queensland government to explore for “new economy minerals” like cobalt.

Meanwhile, the firm also highlighted the recent signing of an Australia-United States memorandum of understanding for a critical minerals’ collaboration. This is focused on reducing both nation’s exposure to supply disruptions and maximising the competitiveness of their respective minerals industries.

“This international cooperation is anticipated to result in greater support for the development of critical mineral projects, such as Millennium, and the establishment of a strong diversified mine-to-market supply chain to serve the eMobility, aerospace, defense and lithium-ion battery industries,” said Global Energy.

Author: Daniel Flynn

The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, does not a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

MiningMaven.com and MiningMaven Ltd are not responsible for the article’s content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

Global Energy Metals strengthens Millennium cobalt project financing with key royalty sale (GEMC)

Global Energy Metals (TSX.V:GEMC) strengthened its financial position on Thursday with news of the sale of royalties over its cobalt projects in Australia.

The firm has entered a letter of intent to sell a 0.5% gross metal royalty on its Millennium and Mount Isa projects in Queensland to Electric Royalties. In exchange, it will receive 1.15 million Electric Royalties shares and receive a C$150,000 cash payment.

Meanwhile, Electric Royalties will also be granted a call option to acquire a 0.5% royalty on net smelter returns from Millennium by paying C$500,000 to Global Energy. This is exercisable at any point over the next two years and shares can be used to cover up to 25% of the payment.

Speaking on Thursday, Global Energy’s president and chief executive Mitchell Smith highlighted that the deal provides his firm with a non-dilutive way of pushing Millennium and the Mount Isa projects forward.

“This commitment by Electric Royalties is a significant endorsement of the Millennium and Mount Isa projects by a mine finance firm focused on minerals core to the new energy economy,” he added. “This royalty sales provides Global Energy Metals with an attractive form of financing and short-term investments equal to our market cap through the spin-out of a small royalty on a portion of our Australian projects.”

Millennium contains a JORC inferred resource of 3.1 million tonnes at 0.14% cobalt, 0.34% copper, and 0.12 grams per tonne gold. The exploration stage asset is found near well-established infrastructure and is open for expansion. Preliminary hydrometallurgical studies have demonstrated the potential for recovering saleable cobalt and copper concentrates.

Cobalt Ridge and Mount Dorothy, known collectively as the Mount Isa projects, expand Global Energy’s Australian cobalt footprint to 2,560 hectares, creating a district-scale exploration and development opportunity.

Elsewhere on Thursday, Electric Royalties chief executive and director Brendan Yurik highlighted that the deal represents its first acquisition of cobalt royalties.

“[We} are extremely encouraged by the potential Millennium has in becoming a source of critical material needed to feed the electric revolution,”  he added.

Thursday’s news comes just a week after Global Energy unveiled its plans for developing its nickel/cobalt projects near Tesla’s Gigafactory in Nevada. The firm hopes to complete an interpretation of work at the Lovelock and Treasure Box assets this year before carrying out 3D modelling and an inaugural drill program, and earning-in to an 85% interest in the assets.

Lovelock is said to have produced 500ts of mineralisation between 1883 and 1890 when it was last in operation.   Global Energy believes exploration work and modern drilling techniques could unlock a large amount of potential value at the site.

Treasure Box, meanwhile, sits adjacent to Lovelock and hosts mine workings from limited copper production, which occurred until early into the 20th century. A historical diamond drill hole at the asset reportedly intersected 1.52% copper over 85 feet, with mineralisation beginning at the surface.

Author: Daniel Flynn

The author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, does not a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

MiningMaven.com and MiningMaven Ltd are not responsible for the article’s content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

Global Energy reveals plans to advance Tesla-neighbouring Nevada nickel/cobalt projects (GEMC)

Global Energy Metals (TSX-V:GEMC) has unveiled plans to develop its nickel/cobalt projects near Tesla’s Gigafactory in Nevada. The firm hopes to complete an interpretation of work at the Lovelock and Treasure Box assets this year before carrying out 3D modelling and an inaugural drill program, and earning-in to an 85% interest in the assets.

Lovelock is said to have produced 500ts of mineralisation between 1883 and 1890 when it was last in operation.   Global Energy believes exploration work and modern drilling techniques could unlock a large amount of potential value at the site.

Treasure Box, meanwhile, sits adjacent to Lovelock and hosts mine workings from limited copper production, which occurred until early into the 20th century. A historical diamond drill hole at the asset reportedly intersected 1.52% copper over 85 feet, with mineralisation beginning at the surface.

Work on the sites, which are based around 150 kilometres east of Tesla’s major battery factory in Sparks, follows an initial exploration at Lovelock last year. According to Global Energy’s president and chief executive Mitchell Smith, this confirmed the prospective potential of the overall land package and “indicated considerable promise”.

“Given the scale and prospective nature of this battery minerals discovery, unlocking value from Lovelock and Treasure Box will now form as the primary focus of the company’s 2020 exploration plan,”  he added.

Global Energy’s work will focus on an area central to Lovelock, with this area of emphasis set for expansion if initial assay results are encouraging.

The company said that advancing and earning an 85% interest in the Nevada projects is key to its ultimate goal of developing a domestic supply of battery metals with a particular focus on cobalt.

The global cobalt supply has become an area of serious concern because of its current over-reliance on the Democratic Republic of the Congo, where instability and human rights issues are rife. Firms are increasingly pulling out of or eschewing the country, even though alternative sources of the metal are currently limited. Against this backdrop, cobalt demand is expected to soar alongside the rise of electric vehicles.

This creates an ideal dynamic for Global Energy, which is establishing a portfolio of cobalt projects in stable jurisdictions like the US, Canada, and Australia. Alongside its Nevada assets, the organisation owns 100% of the Millennium cobalt project and two neighbouring discovery stage exploration-stage cobalt assets in the established Mt. Isa region of Australia.

Thanks to the unique positioning of its cobalt projects in stable jurisdictions, Global Energy looks set to enjoy a healthy combination of strong demand for its metals and rising prices due to the wider supply/demand dynamic.

Author: Daniel Flynn

The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, does not a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

MiningMaven.com and MiningMaven Ltd are not responsible for the article’s content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

 

Global Energy Metals highlights electrification of vehicles as a ‘once in a generation investment opportunity’

Canadian cobalt developer Global Energy Metals (TSX.V:GEMC) issued a corporate update on Wednesday that saw it highlight the rise of electric vehicles (EVs) as ‘a once in a generation investment opportunity’.

The business, which has built a portfolio of cobalt projects in stable jurisdictions, said the transportation and energy storage industries are set to undergo a ‘profound transformation’ over the coming decades. An ongoing shift from fossil-fuelled to electric-powered vehicles is being accelerated by considerable amounts of investment from businesses and consumers alike. According to Global Energy, cobalt is critical to the continuation of this trend, with demand expected to increase substantially due to its heavy use in lithium-ion batteries.

However, the firm does not believe that supply will be able to keep up with this demand. This is because much of the world’s cobalt is sourced from the DRC- a nation known for its conflict, artisanal mining, and human rights violations. Likewise, cobalt is often mined as a byproduct, meaning supply is very much tied to conditions in the market for other metals such as nickel and copper.

As such, Global Energy’s president and CEO Mitchell Smith said the raw materials and companies powering the shift towards the electrification of vehicles present ‘a once in a generation investment opportunity’, adding:

‘Lithium-ion batteries are at the heart of the current and future energy transition. Batteries that are powered by cobalt are critical to the future of the eMobility revolution. To get exposure to the battery and energy storage opportunity, maybe the biggest investment growth opportunity there is at the moment, one needs to look at the companies securing the metals critical to the space. Global Energy offers that exposure at a basement level entry cost.’

Global Energy also provided a recap of its operations over the last six months. The period notably saw the firm take 100pc ownership of its flagship Millennium cobalt project in the Mount Isa region of Queensland, Australia. As part of the deal, the firm also took on two exploration assets called Mt. Dorothy and Cobalt Ridge, increasing its land position in Queensland considerably.

Following the deal, which was completed with ASX-listed business Hammer Metals, Global Energy filed a technical report for Millennium highlights its upside opportunity and resource expansion potential. It also formed a partnership with industry peer Cobalt Blue Holdings to investigate the site’s cobalt, copper, and gold recovery potential in full. The results of this work are pending.

Elsewhere, Global Energy has also taken significant steps forward at its Nevada-based cobalt, nickel, and copper properties Lovelock and Treasure Box. In early summer, the firm began an exploration program including airborne surveying, digital modelling, underground sampling and mapping, and fieldwork at the assets – which are located near Tesla’s Gigafactory.

It also acquired the right to use technology owned by TSX-listed Canada Cobalt Works called RE-20X at the properties. This skips the normal smelting process to provide high recovery rates for cobalt, nickel, and copper to ultimately create battery-grade cobalt sulphate.

Finally, the six-month period saw Global Energy attend several key industry events around the world in a bid to spread its message. These included the 2019 China Mining Summit and CRU Ryan’s Ferroalloys Conference.

Author: Daniel Flynn

The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, does not own a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, has been paid for the production of this piece by the company or companies mentioned above.

MiningMaven Ltd is not responsible for its content or accuracy and does not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

Global Energy Metals: Establishing a strong cobalt and copper position at the Millennium Project in Queensland, Australia (GEMC)

Alongside its prospective assets in Nevada and Ontario, Global Energy Metals’ (TSX-V:GEMC) primary focus is the Millennium copper-cobalt project in the Mount Isa region of Queensland, Australia.

The exploration-stage property, which remains open for expansion, contains vast reserves of cobalt as well as significant quantities of copper.

These two metals are vital components in the production of electric batteries, and are both expected to enjoy an explosion in demand thanks to forecast rise in the use of electric vehicles (EVs) over coming years.

With cobalt nearing a supply deficit due to a widespread move away from the DRC, responsible for more than 60pc of the metal’s global production, projects in stable areas like Millennium have never been more important.

In the report below, alongside Global Energy’s president and chief executive Mitchell Smith, we detail the firm’s plans for Millennium and, critically, why funding at the project level is essential to the future electrification of vehicles.

Please click here to download and read the report in full.

The Northern Zone of the Millennium Project (Source: Global Energy Metals)

Author: Daniel Flynn

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