Looking To Raise Global Awareness Of World Class Vietnamese Nickel Project
Blackstone Minerals Limited’s (ASX:BSX) ordinary shares are now trading on the US-based OTCQB Market under the code of BLSTF.
The company believes that trading on OTCQB will enhance the visibility and accessibility of the company to North American investors and follows on from the significant interest shown by North American Investors in Blackstone’s recent capital raising after Blackstone’s recent Scoping Study, announcing annual production of ~12.7ktpa Ni over 8.5 years project life generating a pre‐tax NPV8% of ~US$665m and 45% IRR with a capital payback period of 2.5 years at US$8/lb Ni.
The OTCQB Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade BLSTF. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
This step is part of Blackstone’s strategy to raise awareness of the company’s Ta Khoa Nickel-Cu-PGE Project in northern Vietnam, where the company has commenced metallurgical testing on the Ban Phuc DSS deposit with an aim to develop a flow sheet for a product suitable for the lithium-ion battery industry.
In addition, Blackstone Minerals will investigate the potential to develop downstream processing infrastructure in Vietnam to produce a downstream nickel and cobalt product to supply Asia’s growing lithium-ion battery industry.
Blackstone Minerals delivered a Maiden Resource in Q3, focused initially on the DSS at Ban Phuc and continues to investigate the potential to restart the existing Ban Phuc concentrator through focused exploration on both MSV and DSS deposits. Blackstone delivered a Scoping Study on the downstream processing facility at Ta Khoa. The Scoping Study provided details for joint venture partners to formalise the next stage of investment.
The Ta Khoa Nickel-Cu-PGE Project in northern Vietnam includes an existing modern nickel mine, which has been under care and maintenance since 2016 due to falling nickel prices. Existing infrastructure includes an internationally designed 450ktpa processing plant. Previous project owners focused mining and exploration efforts primarily on the MSV at Ban Phuc. Blackstone plans to explore both MSV and DSS targets throughout the project, initially within a 5km radius of the existing processing facility. Blackstone will conduct further geophysics on the MSV and DSS targets and continue its maiden drilling campaign.