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GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2020
Oct 20, 2020
65020_rns_2020-10-20_f1625a55-401a-4571-8d46-11a9cc3f4174.pdf
Capital/Financing Update
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ASX Announcement | 21 October 2020
Suvo on track to secure access to crucial infrastructure assets
- Agreement executed for proposed granting of exclusive access to select storage infrastructure in West Australia’s wheatbelt region at Gabbin & Manmanning.
Suvo Strategic Minerals Limited
ABN: 97 140 316 463
- The agreement will potentially generate value for WA Growers, the State Government and progress Suvo’s plan to advance its decision to mine at the 100% owned White Knight Kaolin project.
Corporate Details:
ASX Code: SUV
- Potentially saving a significant amount of capital expenditure and time developing a production facility and transport logistics.
Directors:
Robert Martin Executive Chairman
- The sites consist of a 20,000 tonne storage shed, road and rail loading facilities, offices, on-site accommodation, power and water connections.
Aaron Banks Executive Director
Len Troncone Non-Executive Director
Dr Ian Wilson Non-Executive Director
Contact Details:
Level 10, 182 St Georges Terrace Perth WA 6000
- One proposed storage facility is only 3kms from Suvo’s maiden inferred 31.5mt JORC deposit for which it was recently granted mining access rights by the land owner.
West Australian kaolin and silica sand exploration company, Suvo Strategic Minerals Limited (‘Suvo’ or the ‘Company’), is pleased to announce that it has entered into an agreement with grain supply chain co-operative, the CBH Group (Co-operative Bulk Handling Limited) (“CBH”) to conduct a 180 day due diligence program on their railway reserve leases at Gabbin and Manmanning in West Australia’s wheatbelt region with the view of entering into a long term lease or an outright purchase of the facilities.
The sites consist of a 20,000 tonne storage shed, road and rail loading facilities, offices, on-site accommodation, power and water connections with excess land for lay down facilities.
T: +61 8 9389 4495 E: [email protected] W: suvo.com.au
The due diligence program will determine the suitability of the facilities to contain the proposed kaolin processing plant, allow time to secure the relevant regulatory approvals and engage local communities.
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The letter of agreement allows Suvo access to the facilities for an initial 180 day due diligence period to ascertain the suitability to potentially construct their kaolin processing facilities on the ground to the north side of the property. At the end of the initial period, Suvo may elect to enter into a formal agreement for the sites for a period no greater than an aggregate of 40 years at a fixed annual rent or an upfront one-off payment. Any formal agreement remains subject to negotiation and on terms satisfactory to both the Company and CBH.
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CBH Gabbin’s storage shed, road and rail loading and siding facilities
Commenting on the agreement, Executive Chairman Robert Martin said: “this agreement is a fantastic outcome for not only Suvo’s shareholders but also CBH’s WA Growers and the State Government as it has the potential to derive value for everyone involved. Suvo can now fast-track our feasibility studies knowing we have access to rail and freight networks, storage facilities and a potential site to construct our processing facilities. Suvo will save millions of dollars and a significant amount of time under this agreement. The local communities will benefit from currently unused facilities being revived and used to help bring jobs back to the area. We are grateful to both CBH and the State Government in helping facilitate this mutually beneficial agreement and we look forward to working with them during the next phase of our project’s development.”
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Further details in respect to the maiden JORC Inferred Resource and the exploration results underpinning it, are set out in the Company’s prospectus dated 25 June 2020 (released to the Company’s market announcement platform as pre-quotation disclosure on 5 August 2020). Suvo confirms it is not aware of any new information or data that materially affects the exploration results set out in the Company’s prospectus dated 25 June 2020 and all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.
The table below represents the JORC resource for the Company’s 100% owned White Knight Kaolin Project.
| Inferred Mineral Resource |
White Kaolinised Graphite (Mt) |
ISO Brightness (%) | Yield (%) | Kaolin <45 micron (Mt) |
|---|---|---|---|---|
| TOTAL | 35.1 | 80.3 | 38.2 | 13.4 |
The information in this announcement which relates to exploration results and mineral resources is based on information compiled by Dr Ian Wilson. Dr Ian Wilson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the JORC Code, by virtue of his being a member of IOM3, a Recognised Professional Organisation. Dr Ian Wilson is a full-time employee of Ian Wilson Consultancy Ltd and also a NonExecutive Director of Suvo Strategic Minerals Limited. Dr Ian Wilson receives board fees in relation to his directorship. Dr Ian Wilson consents to the inclusion of the information in the release in the form and context in which it appears.
The release of this announcement has been approved for release by the Board of Directors
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Contacts:
Rob Martin Executive Chairman E: [email protected]
Aaron Banks Executive Director E: [email protected]
Company Profile:
Suvo Strategic Minerals Limited is a dual commodity Australian exploration and mining company listed on the Australian Securities Exchange (ASX:SUV) focused on the development of the 100% owned White Knight Kaolin Project located in the Yilgarn Craton in the Central Wheat Belt and the 100% owned Nova Silica Sands Project located in the Gin Gin Scarp near the township of Eneabba, both situated in Western Australia.