logo
powered-by-canningspurple
Navigation
logo powered-by-canningspurple
  • Insight
  • Companies
    • Aeris Resources
    • Altrad
    • Argonaut
    • Artemis Resources
    • BLK Auto
    • BMG Resources
    • Buru Energy
    • Catalyst Metals
    • ChemX Materials
    • Core Lithium
    • DDH1 Drilling
    • Dreadnought
    • FBR
    • Finbar
    • Focus Minerals
    • Gold Road Resources
    • Hastings Technology Metals
    • Hyzon Motors
    • Jupiter Mines
    • Lykos Metals
    • Mineral Resources
    • Northern Minerals
    • Northern Star
    • NRW Holdings
    • Paydirt
    • Rand Mining
    • Raven SR
    • Rox Resources
    • St George Mining
    • Sundance Resources
    • Torrens Mining
    • Tribune Mining
    • Vimy Resources
    • VRX Silica
    • Westgold Resources
    • Zenith Minerals
  • Industries
    • Broking Firm
    • Clean energy
    • Copper
    • Gold
    • Insight
    • Iron ore
    • Lithium
    • Manganese
    • Mining Services
    • Nickel
    • Oil & Gas
    • Property
    • Rare Earths
    • Silica Sand
    • Technology
    • Uranium
    • Zinc
  • Video
  • About
  • Contact
  • Subscribe

Home / Rare Earths / Northern Minerals bolsters balance sheet during March quarter

Northern Minerals

  • ASX: NTU
    • REE

Northern Minerals bolsters balance sheet during March quarter

  • 30 April

Australian heavy rare earths producer, Northern Minerals Limited (ASX: NTU) has released its activities report for the three months to March. Highlights include a maiden mineral resource estimate for the Dazzler deposit, completion of a $20 million placement and dysprosium prices up by 20 per cent.


Australian heavy rare earths producer, Northern Minerals Limited (ASX: NTU) has released its activities report for the three months to March.

HIGHLIGHTS

·       Maiden Mineral Resource estimate for the Dazzler deposit at a grade that is more than three times the average for Browns Range

·       Pilot plant at Browns Range is continuing to assess the technical and economic feasibility of a full-scale commercial operation

·       Browns Range access road has been added to the Infrastructure Australia’s Infrastructure Priority List

·       Dysprosium price increased by 20% during the March quarter

·       Placement to sophisticated investors to raise $20 million before costs

·       Subsequent to the Quarter, a further $15 million will be raised to help paydown the loan on the R&D

·       The Australian Taxation Office (ATO) agreed to release 50% ($10.78 million) of the Company’s claim for retained research and development (R&D) refundable tax offset in relation to the 2017/18 tax year

Browns Range Project Update

The Company has constructed and is operating a pilot scale project aimed at assessing the technical and economic feasibility of a full-scale commercial operation. The testwork program has commenced and first pilot plant production of rare earth carbonate was achieved in the December quarter 2018.

At the end of the March 2019 quarter, a total of 28,068kg of Rare Earth Carbonate had been produced to test the pilot plant operation and to collect data to feed back into the processing flowsheet.

The Company will continue to ramp up output from the pilot plant to steady state to assess the quality of the rare earth carbonate produced. The Company expects that incremental steps will be made from new knowledge from the testwork program to adjust both the rate of production and the quality of product.

The Browns Range access road has been included as one of the priorities in the Infrastructure Priority List recently published by Infrastructure Australia. Infrastructure Australia is an independent statutory body that is the key source of research and advice for governments, industry and the community on nationally significant infrastructure needs.

Infrastructure Australia has a mandate to prioritise and progress nationally significant infrastructure investments. Following the drill program conducted in the September 2018 quarter, the results of which were reported to the ASX on 11 September 2018, the Company announced a maiden Mineral Resource estimate for the high-grade Dazzler deposit.

Investor Insight

  • Contact

Share

  • LinkedIn
  • Twitter
  • Facebook

Most Read

  • 1 November

Nickel, cobalt anomalies at Sockovac; large new gold, copper anomalies at Sinjakovo

  • ASX:LYK
    • Ni
    • Cu
  • 28 September

Core Lithium – Primero Group Awarded EPC Contract for Finniss DMS Plant

  • ASX: CXO
    • Li
    • Clean energy
  • Insight
  • 26 June

Picking winners – the portfolio approach that offers blue-sky potential

  • ASX: AIS
    • Clean energy
    • Cu

Related

  • Insight
  • 7 May

Uranium, manganese dealt into gold and battery metals Diggers forum

  • ASX: HAS
    • Broking Firm
    • Clean energy
  • Insight
  • 30 April

March Qtr delivers truckloads of Au, Li, Fe and Mn – and a promise of more value

  • ASX: ARV
    • II
    • Broking Firm
  • 29 April

Northern Minerals reports on March Quarter

  • ASX: NTU
    • REE
  • 29 April

Hastings Technology Metals reports on March Quarter

  • ASX: HAS
    • REE

NEWSLETTER

Get news, as it happens

Sign up to receive our weekly roundup, and releases of interest, as they happen.

  • This field is for validation purposes and should be left unchanged.
logo

Investor Insight, powered by Cannings Purple, delivers the stories that matter to the people who matter – across your preferred communications platform.

From breaking news to analysis, opportunities and thought leadership, Investor Insight is your window into some of Australia’s most exciting listed and non-listed companies.

  • Insight
  • Companies
    • Aeris Resources
    • Altrad
    • Argonaut
    • Artemis Resources
    • BLK Auto
    • BMG Resources
    • Buru Energy
    • Catalyst Metals
    • ChemX Materials
    • Core Lithium
    • DDH1 Drilling
    • Dreadnought
    • FBR
    • Finbar
    • Focus Minerals
    • Gold Road Resources
    • Hastings Technology Metals
    • Hyzon Motors
    • Jupiter Mines
    • Lykos Metals
    • Mineral Resources
    • Northern Minerals
    • Northern Star
    • NRW Holdings
    • Paydirt
    • Rand Mining
    • Raven SR
    • Rox Resources
    • St George Mining
    • Sundance Resources
    • Torrens Mining
    • Tribune Mining
    • Vimy Resources
    • VRX Silica
    • Westgold Resources
    • Zenith Minerals
  • Industries
    • Broking Firm
    • Clean energy
    • Copper
    • Gold
    • Insight
    • Iron ore
    • Lithium
    • Manganese
    • Mining Services
    • Nickel
    • Oil & Gas
    • Property
    • Rare Earths
    • Silica Sand
    • Technology
    • Uranium
    • Zinc
  • Video
powered-by-canningspurple
  • About
  • Contact
  • Subscribe
  • Cannings Purple
  • Privacy Policy
  • Disclaimer

Copyright 2022 Cannings Purple