Almonty Industries Inc T.AII

Alternate Symbol(s): ALMTF

Metals & Mining Industrial Metals & Minerals

Almonty Industries Inc. is a Canada-based company, which is engaged in the mining, processing and shipping of tungsten concentrate, as well as the exploration and evaluation of its projects. The Company operates through four segments: Los Santos Mine, Panasquiera Mine, Valtreixal Project, and Woulfe. The Los Santos Mine is located in Spain whose operations relate to the exploration and mining of Tungsten. The Panasqueira Mine is located in Covilha Castelo Branco, Portugal, whose operations relate to the exploration and mining of tungsten, as well as the production of copper and tin concentrate by-products. The Valtreixal Project is located in Spain whose operations relate to the exploration and evaluation activities of the Valtreixal tin/tungsten project. Woulfe’s properties are located in Gangwon Province, Republic of Korea. The Woulfe's operations relate primarily to the exploration, evaluation and development of the Sangdong Project.

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Almonty Industries Inc > KIS enters new offtake agreement with the Traxys Group

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Post by 5ilverlining808on Sep 23, 2021 1:40am

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Post# 33903550

KIS enters new offtake agreement with the Traxys Group

Small mention at the end :-

Posted 22nd September 2021

Australian tungsten developer King Island Scheelite (KIS) has secured an offtake agreement to support the redevelopment of its wholly-owned Dolphin tungsten project, located on King Island, Tasmania, Australia. The agreement, for 90,000 mtu WO₃ (710t W) per annum, is with Luxembourg-headquartered commodity trader and merchant, Traxys Group. The initial agreement will take place once KIS has commenced operations at its processing plant and accounts for a total of 330,000 mtu WO₃(2.6kt W), over a period of four years. KIS had previously entered into an offtake agreement with Noble Group subsidiary Kalon Resources in 2020, which was subject to specific financial milestones to be met by 31 August 2021. As these conditions were not met, KIS elected to terminate the agreement.

Roskill View

The agreement marks a further step in the redevelopment of Dolphin, with KIS announcing several milestones over the last twelve months. In September 2021, KIS confirmed it had obtained A$33M (US$24M) in debt funding, through current KIS investors and an external party. In February 2021, the company secured A$10M (US$7.4M) in funding from the Tasmanian Government, providing funding over a 10-year term. The company is additionally understood to be negotiating a further A$10M leasing facility on mobile equipment.

KIS has a further offtake agreement in place, the first of which was announced in April 2019, with the company securing an agreement with Austrian tungsten producer Wolfram Bergbau und Huetten for 20% of expected output, over four years, accounting for 1.1kt contained W.

In late 2020, the company announced a revised feasibility study for the Dolphin project, increasing mine life from 8 to 14 years and increasing Net Present Value (NPV) from A$146M to A$241M (US$177M). In the study KIS outlined probable reserves of 4.4Mt grading 0.92% WO₃ (40.5kt contained WO₃), with ore mining of 300ktpy expected to yield 3.7ktpy of concentrate (1.9ktpy W) over a 14-year mine life. This would position Dolphin as the third largest tungsten project by capacity at an advanced stage of development, after Almonty Industries’ Sangdong project (3.6ktpy W) and Northcliff Resources’ delayed Sisson project (5.6ktpy W).

https://roskill.com/news/tungsten-king-island-scheelite-enters-new-offtake-agreement-with-the-traxys-group/