FeroAllantica invest $382 million in Silica Plant in QUEBECHere is in an interesting tidbit..... been sharing some information on Silica/Silicon from researching.
I just found that FeroAllantica is investing $382 million in partnership with the Quebec government to construct a new 100,000 ton Silicon Metal plant to meet North American demand.
The significance of this is they are located in Quebec, proves the high purity Silica is found in the QUEBEC province, and that there is a real demand. Extremely REAL!!!
Fairmont just optioned a Silicon property within trucking distance to the location of this new plant that will be operational in 18 months.....so in retrospect, Fairmont could be permitted and a supplier to meet the demand of this new plant by than. Nothing like having a customer in their BACKYARD.
This is very interesting..... and the more I dig on this new property and the possibilities fromit - the more I like the fact they acquired it.
Fairmont is significantly advanced on the Buttercup property and awaiting the extraction permit to start blasting, crushing and shipping the DSO Titanium Magnetite - and now once that gets operational have set their sights on setting up a similar quarry style operation with Silica to follow the ame business model.
The timing might be perfect and advanced enough to start supplying them when the plant becomes operational in late 2015 or early 2016l!
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October 28, 2014 07:00 ET
Fairmont Options Lac Bouchette Quartz Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2014) -Fairmont Resources Inc. (TSX VENTURE:FMR)("Fairmont") is pleased to announce that it has entered into an option agreement with two Saguenay-Lac-Saint-Jean, Quebec, based claim holders (the "Vendors") to acquire a 100% interest, subject to a production royalty, in the Lac Bouchette Quartz Property. The Lac Bouchette Quarter Property, consisting of eight mineral claims totaling 435 hectares, is
located 15 kilometres south of Lac St-Jean, and less than 100 km from the Port Alfred and less than 100km the Grand Anse Sea Terminal.
Under the terms of the option agreement, Fairmont will be required to make the following payments to the Vendors in order to exercise its option: (i) $50,000 five days of TSX Venture Exchange acceptance of the agreement (of which $25,000 may be settled in shares of Fairmont), (ii) $50,000 on or before December 31, 2014, (iii) $50,000 on or before June 1, 2015, and (iv) $50,000 on or before December 1, 2015. At the election of Fairmont, the payments set out in paragraphs (ii) to (iv) may be settled by the issuance of common shares of Fairmont, subject to TSX Venture Exchange Acceptance.
The Vendors will also receive a $2 per tonne royalty for all ore currently stockpiled on the Lac Bouchette Quartz Property and a 2% production royalty for any new mined ore.
The option agreement and the transactions contemplated therein are subject to the acceptance of the TSX Venture Exchange.
About Fairmont
Fairmont's Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. These occurrences are of considerable interest due to their proximity to tide water, with the Grand Anse Sea Terminal at the Port of Saguenay located within 100km of all of Fairmont's properties.
Contact Information
Michael A. Dehn
President and CEO, Fairmont Resources Inc.
michael@avantimac.com
Tel:647-477-2382