Australian Mines

Website: www.australianmines.com.au
Primary ticker: ASX:AUZ
Stage of development: Development
Primary minerals: Cobalt, Nickel

Live financials

Australian Mines is moving quickly to establish itself in a dominant position as a reliable supplier of battery and technology metals. The Company is focused on completing a Bankable Feasibility Study on its Sconi Cobalt-Scandium-Nickel Project in Queensland by April, Australia’s most advanced project of its type, and moving the Flemington Cobalt-Scandium-Nickel Project in New South Wales into a Pre-Feasibility Study in October. In response to interest from potential off-take partners, Australian Mines is constructing a demonstration-size plant in Perth, to process bulk samples of ore to produce commercially saleable samples of cobalt and nickel sulphates and scandium oxide.

Management Profile

Benjamin Bell – Managing Director (BSc, MMET, MBA)

Benjamin Bell, Managing Director (BSc, MMET, MBA) Benjamin Bell is an experienced company executive, with a career in the Australian exploration and mining sector spanning more than two decades. He is a qualified geologist and geophysicist, with significant management and on-the-ground experience working for listed companies, government agencies and as a respected industry consultant. Mr Bell was appointed Chief Executive Officer of Australian Mines Limited in November 2011, before subsequently being appointed Managing Director in January 2012.

 

 

What is your rationale for attending 121 Mining Investment?

We are looking to meet with potential new on-market investors in Australian Mines as well as financial institutions which could support future project financing activities. We have adequate funding for our short term work program, but will likely seek to raise additional funds in the next 12 months. We will have significant news flow for the market this financial years as we continue to progress the Sconi and Flemington projects to the next stages of development.

 

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

3 Months:

Bankable Feasibility Study of Sconi cobalt-nickel-scandium project completed

Exploration Target established for Flemington cobalt-scandium-nickel deposit

6 Months:

Financing for the development and construction of the Sconi Project

Pre-Feasibility Study of Flemington project commenced

12 Months:

Construction of the Sconi mine and process plant nearing completion

Pre-Feasibility Study of Flemington project completed and Bankable Feasibility Study commenced

 

 

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

13 year off-take agreement with Korean-based SK Innovation for are up to 12,000 tonnes of cobalt sulphate per year and 60,000 tonnes of nickel sulphate per year confirms the company’s Sconi Project’s status as Australia’s most advanced project of its type, and Australian Mines as a world leader in the cobalt-nickel-scandium sector.