Jervois Mining

Primary ticker: ASX:JRV
Stage of development: Development
Primary minerals: Copper, Nickel , Cobalt
Project to promote: Nico Young

Live financials

Jervois owns 100% of the Nico Young Cobalt-Nickel Project in Australia. The project has a total JORC 2012-compliant mineral resource estimate of 167.8Mt at a grade of 0.59% Ni and 0.06% Co, and Jervois is finalizing a PFS basis a 3.0Mtpa ore throughput per annum based on low capital and technical risk heap leaching. Jervois also owns a 4.54%-interest in eCobalt Solutions and has applied for a prospecting licence over the Kabanga Nickel-Cobalt Project, located in Tanzania. The company is well funded and expects to finish 2018 with between A$9m and A$10m in cash and liquid securities, excluding its holding in eCobalt and the Bullabulling royalty.  In January, Jervois and M2 Cobalt announced a friendly merger to create an industry leader in raw material supply for lithium ion batteries.

Merger Announcement Merger Overview

Management Profile

Peter Johnston – Chairman

– Recognised as one of Australia’s leading mining executives and Board Directors, with more than 35 years of operational and project development experience
– Prior to joining Jervois, Mr Johnston was Interim CEO of Tronox Limited, a US$2.25 billion NYSE listed titanium dioxide feedstock and processing business; he remains a Non Executive Director of the company
– Mr Johnston was Head of Global Nickel Assets for Glencore from 2013 to 2015. During this period he was responsible for all of Glencore’s nickel-cobalt mine and processing facilities across Australia, Canada, the Dominican Republic, New Caledonia and Norway, as well as its undeveloped nickel-cobalt project in Tanzania. He was a member of the Glencore Executive Management Committee
– From 2001 to 2013, Mr Johnston was Managing Director and CEO of Minara Resources, listed on the ASX and a subsidiary of Glencore from 2005 until late 2011 when Glencore delisted it
– Mr Johnston previously held leadership positions as Executive General Manager of WMC’s Nickel and Gold divisions, Olympic Dam operations, the Queensland Fertiliser business and the WMC corporate human resources function
– Mr Johnston also held senior executive roles with Alcoa of Australia Limited, and was previously Chairman of the Minerals Council of Australia, Chairman of the Chamber of Minerals and Energy of Western Australia, Vice President of the Australian Mines and Metals Association and President of the Nickel Institute, the senior industry body in the global nickel sector
– Mr Johnston is also a Director of NRW Holdings. Prior Directorships include Minara, Silver Lake Resources Limited, Emeco Holdings Ltd and Central Norseman Gold Corporation Ltd

Bryce Crocker – CEO (Executive Director)

Bryce Crocker (CEO) is a seasoned mining and natural resources executive with significant experience in base metals including cobalt. Mr Crocker joined Xstrata plc shortly after its IPO in mid 2002, was based in London in business development roles until 2006, upon when he transitioned to Canada following the acquisition of Falconbridge and establishment of Xstrata Nickel headquarters in Toronto. His past nickel/cobalt roles at Xstrata plc’s nickel division include VP and Head Strategy, Marketing and Research, and GM and Head Business Development. Mr Crocker was a Director on the Xstrata Nickel Board, an Xstrata nominee Director to the Nickel Institute Board (global body representing the industry) and an Xstrata nominee to the Kabanga Shareholder Advisory Committee.
Following the sale of Xstrata to Glencore in 2013, Mr Crocker was based in Latin America focused on natural resource investments in the region. Mr Crocker holds an LLB (Honours) and BSc from the University of Melbourne and a Post Graduate Diploma in Applied Finance and Investment from the Australian Securities Institute.

What is your rationale for attending 121 Mining Investment?

Broaden investment appeal of the company.

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

Jervois Mining (JRV) is focused on moving its Nico Young Cobalt-Nickel Project into production by the end of 2022, with the company close to finalising a pre-feasibility study (PFS). Jervois is planning a lower capex
and technical risk heap leach operation of 3Mtpa, making it one of the largest Australian cobalt-nickel operations. The plant is expected to produce a mixed hydroxide product that is readily marketable to a number of further processing facilities, although the PFS has recently been extended to assess the potential of further downstream refining to produce
a nickel sulphate and a cobalt sulphide.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Finalise PFS and Nico Young partner

6 Months:

Close an acquisition to grow company

12 Months:

Advance Nico Young and other sites to create multiple asset / jurisdictional operating company providing Li-ion raw material supply for cathode precursors

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

Key risks at Nico Young are typical of those facing a major mine development – introduction of a strategic partner and advancing project through DFS and permitting. Key focus is on rapidly acquiring other operating sites and establishing Jervois as the standout option for investors seeking exposure to battery raw materials.

In a sentence, what do you think makes your company such a compelling investment?

Quality, experience and motivation of Board and management team.