Blackstone Minerals

Financials:

Primary ticker: ASX:BSX, OTCQB:BLSTF, FRA:B9S
Stage of development: Exploration, Development
Primary minerals: Nickel, Copper, Gold, Cobalt
Project to promote: Ta Khoa Nickel Project
Project location: Vietnam
Website: www.blackstoneminerals.com.au

Blackstone Minerals Ltd (ASX: BSX / OTCQX: BLSTF / FRA: B9S) is focused on building an integrated upstream (Ta Khoa Nickel Project) and downstream (Ta Khoa Refinery Project) battery metals processing business in Vietnam that produces Nickel Cobalt Manganese Precursor products for Asia’s growing Lithium-ion battery industry.

The Company owns a 90% interest in the Ta Khoa Nickel Project. The project is located 160km west of Hanoi in the Son La Province of Vietnam and includes an existing modern nickel mine built to Australian standards, which is currently being used to process nickel ore delivered by the underground bulk sample program. The nickel mine successfully operated as a mechanised underground nickel mine from 2013 to 2016.

Blackstone’s Ta Khoa Nickel Project and Ta Khoa Refinery Project are the two major cogs in Blackstone’s vertically integrated development strategy. The Company’s development strategy is underpinned by Blackstone’s ability to secure nickel concentrate and Ta Khoa is emerging as a nickel sulfide district of enviable scale with several exploration targets yet to be tested.

In February 2022, Blackstone completed a Pre-Feasibility Study for the Ta Khoa Nickel Project, and presented this on an integrated basis with the proposed Ta Khoa Refinery development. The refinery is being designed to have a refining capacity of 400ktpa, with feedstock provided from a combination of concentrate from the Ta Khoa Nickel Project and third-party feed sources. Pilot Plant testing and Definitive Feasibility Studies are underway and will continue to technically de-risk the Ta Khoa Project.

At both the mine and refinery level, Blackstone is focused on a partnership model and is collaborating with groups who are focused on sustainable mining, minimising carbon footprint and implementing a fully vertically integrated supply chain.

Cash: AUD$36.7M (30 June 2022)
Debt: NIL

Major shareholders:

Deutsche Balaton AG – 14%
Fidelity – 10%
Ecopro – 9%
Civetta Nanjia – 5%
Board & Management – 6%

Management Profile

Scott Williamson – Managing Director

Scott Williamson is a Mining Engineer with a Commerce degree from the West Australian School of Mines and Curtin University. Mr Williamson started his career as an underground mining engineer in the goldfields of Western Australia. Mr Williamson has recent experience in equity capital markets with previous roles as a Resources Analyst at Hartleys and Investor Relations Manager at Resolute Mining. Mr Williamson has a unique blend of experience in mining and finance with both corporate and technical capabilities.

What is your rationale for taking part in 121 Mining Investment?

Attending 121 Mining online provides us with the opportunity to update the investor and analyst community and broaden our investor base.

What recent news would you like to highlight to investors attending?

1/8/2022 Ta Khoa Project Development Update

Blackstone continues to build relationships with key technology and off-take partners through alignment of Ta Khoa Project development strategy and execution schedule.

21/7/2022 Project Financing Update for the Ta Khoa Project

Blackstone announces the successful completion of lender engagement with select financiers including globally recognised Commercial Banks, Export Credit Agencies (ECAs) and Multilateral Agencies. The engagement follows a round of pre-soundings undertaken in Q4 2021 across a broader suite of potential lenders. Lender engagement has been managed by Blackstone’s debt financing co-advisors KDB and BurnVoir. KDB and BurnVoir are acting jointly and in collaboration with Blackstone to secure an attractive, flexible funding package for the development of the Ta Khoa Project.

2/6/2022 New Massive Sulfide Discoveries at Ta Khoa

Blackstone provides an update on drilling at the Company’s flagship Ta Khoa Nickel Project (TKNP) in northern Vietnam. Dilling targeting new opportunities within the Ta Khoa district has identified Massive Sulfide Vein (MSV), Semi-Massive Sulfide Vein (SMSV) and Net-textured Sulfide (NTS) mineralisation.

3/5/2022 GRES Appointed to Lead Ta Khoa Nickel Project Upstream DFS

Blackstone announces the appointment of Tier 1 process engineering, design and construction company GR Engineering Services Limited (GRES) as the primary consultant in the delivery of the Upstream Definitive Feasibility Study (“DFS”) for the Ta Khoa Nickel Project (TKNP). As the primary consultant GRES will focus on the delivery of major workstreams including process infrastructure, metallurgical testwork and co-disposal tailings storage. GRES will also co-ordinate, collaborate with and collate information from other key workstreams including mining studies.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Funding, permitting and technical risks are always to consider. Blackstone is pushing through with potential partnerships to minimise our funding risk. We already have an existing mining license and fully permitted tailing storage facility; the permitting process requires an amendment to the existing license, this process has commenced. For technical risks we are partnering with industry experts to complete the required studies.

What do you think makes your company such a compelling investment?

Our flagship asset is the Ta Khoa Nickel sulphide project in northern Vietnam, that is the one that everyone is focused on and we are having some great success. It is a focus on the lithium ion battery industry and delivering downstream nickel into what is an exciting period going forward.