GBE - Globe Metals & Mining

[powerkoala]

Re: GBE - Globe Uranium

One tonne of rock from the current drilling at Kanyika is worth in the order of AU $203/tonne. This is calculated using the following grades which I visually averaged by scanning the recent drilling results:

U308.. (US $75/lb) = 200ppm (0.44 lb/t) = US $33
Nb205 (US $7/lb) = 8000ppm (17.6 lb/t) = US $123.3
Ta205 (US $40/lb) = 300ppm. (0.66 lb/t) = US $26.4
Total Value $/tonne rock......................= US $182.7 or AU $203/tonne rock

For context, Arafura (ARU) Nolan's Bore ore is worth AU $280/tonne (at US $80/lb U308 and US $1.75/lb REO). The ore composition is different for Nolan's bore and Kanyika; I'm comparing dollar values only, not grades. I used AUD/USD = 90c. The mineral prices came from today's company announcement 15/10/07.

a really nice grade isn't it?
but still current sp is 60% down from previous high of $1.20
still long way to go

 

[exgeo]

Re: GBE - Globe Uranium

Uranium price is basically unchanged from my last post at US$75/Lb, but the project keeps getting larger and is still open. Assuming that Nb2O5 and Ta2O5 prices are the same as well (I haven't checked) then it works out to an equivalent U3O8 grade of 1.1Kg U3O8/Tonne (2.4Lb/Tonne).

Seeing as it starts at surface and looks like it would be open-pittable and is in a uranium-friendly jurisdiction, this doesn't look bad at all. Resource estimate due next in March 08. Currently has $10m in the bank, so no need for imminent capital-raisings (just as well probably!). I imagine nobody's listening to this story any more though.

 

[exgeo]

Re: GBE - Globe Uranium

From today's resource statement I calculated a new value per tonne of rock. I used the metal prices from today's announcement by the company.

........Metal price...........Grade..................Value..........................................Contained metal (t)........(Mlb)
U308.. (US $75/lb) 70ppm (0.15 lb/t)... = US $11.55...............................................4000....................8.9
Nb205 (US $11/lb) 2600ppm (5.72 lb/t) = US $62.92............................................145500.................320.7
Ta205 (US $47/lb) 120ppm (0.26 lb/t). = US $12.22................................................6600..................14.5
ZrSiO4 (US $750/t) 4800ppm ............ = US $ 3.60..............................................272400................600.5
Total Value $/tonne rock.................. = US $ 90.29 or AU $100/tonne rock

 

[Ghetto23]

Re: GBE - Globe Uranium

I'm still listening - got caught holding these last year.

Seems if people believe the Niobium story (it's looking like they do atm) then these guys will get up there.

Glad to see after so long.

 

[Schmickle]

Re: GBE - Globe Uranium

Anyone still watching or holding these guys? Really keen to hear if anyone has any thoguhts about them...

 

[Althom]

Re: GBE - Globe Uranium

Were in dispute with their JV partner with the result that met testwork is on hold. Completion of BFS now unclear and also the expertise that the JV partner allegedly brought to the JV gone. Geologists and mining engineers tackling a complex metallurgical issue - not a good scenario.

 

[springhill]

Re: GBE - Globe Uranium

GBE, now known as Globe Metals & Mining have thrown their hat into the graphite ring.
http://www.asx.com.au/asxpdf/20120704/pdf/42776j484qz2rf.pdf

Acquisition of advanced graphite asset in Malawi Exploration target of 15-20Mt @ 5-10% graphite
(The exploration target is conceptual in nature, it is uncertain whether further work will result in a mineral
resource)

Highlights – Technical
• 2,020sqkm licence – two projects and 12 individual graphite deposits (all at surface)
• Previously reported resource estimates at Chiziro (1995) not considered sufficiently reliable at present to enable Globe’s technical team to report a JORC resource
• Graphite a strategic mineral in high demand, with advanced technology applications such as lithium-ion batteries (some crossover with REEs)




Highlights – Commercial
• Market size approx. 1Mt p.a graphite (equiv. nickel)
• Consolidates Globe’s already strong position in Malawi (Kanyika Niobium Project currently in DFS and 2 REE projects)
• Acquisition of 100% of project for US$80,000 plus current year expenses
• Globe’s cash at bank currently >$31 million
• China dominates graphite production and consumption – Globe’s partnership with ECE positions the Company to leverage Chinese finance, partners and technology
• Transaction subject to due diligence and usual governmental approvals

Worth keeping an eye on, even if only for the usual spurt that accompanies the word GRAPHITE

 

[springhill]

Re: GBE - Globe Uranium

China Development Bank – Financing Letter of Intent for Kanyika Niobium Project

Globe Metals & Mining is pleased to announce that it has received a Letter of Intent (LOI) from the China Development Bank (CDB), one of China’s largest government-owned banks, to provide a credit facility to Globe to finance its Kanyika Niobium Project in central Malawi.

Project Financials Summary: capital cost US$220 million (incl. contingency); NPV US$300 million; IRR 23%; annual revenues US$180 million p.a.; 20 year mine life; annual production of 3,000tpa niobium metal (principally as ferro-niobium) with tantalum and uranium credits; first production 2015.

Globe is pleased to receive this LOI, as it marks an important step towards eventually bringing Kanyika into production. The LOI is non-binding, and subject to a number of conditions including technical and financial due diligence, concluding terms for the provision of finance, relevant approvals from the Governments of Malawi and China and approval from the CDB credit committee.

CDB stated, “We are delighted to be involved in this Project, and look forward to working with Globe to put final and binding financing arrangements in place, once the Definitive Feasibility Study for the Project is completed.”
“Ferro-niobium is a critical additive in the production of sophisticated steels by Chinese steel mills, and the expected growth in the consumption of both niobium and steel in China is significant, so the participation of the CDB in this Project makes sense. The involvement of ECE as Globe’s largest shareholder satisfied a vital pre-requisite, as our bank typically requires a Chinese partner for financing arrangements of this nature.”

 

[springhill]

Re: GBE - Globe Uranium

DFS Update – Kanyika Niobium Project


Globe provide an update on progress towards completion of the Kanyika Definitive Feasibility Study (DFS) and implementation of the Kanyika Niobium Project in Malawi. The DFS is progressing according to schedule with the achievement of a number of key milestones this quarter including:
● Completion and submission of the Environmental Impact Assessment (EIA) for all areas of the Project. A copy is available for review here: www.globemetalsandmining.com.au.
● Completion of the processing flowsheet development with variability testing and proof of concept underway.
● Advancement of the process plant design and completion of the infrastructure, tailings storage facility and wastemanagement design concepts.
● Issue of tenders for the project early works program, including the main access road, project fencing and accommodation villages.
● Advancement of project financing with a Letter of Intent from China Development Bank in place.
● Development of a Social Responsibility Plan as part of the EIA, with several programs already underway.
● Completion of the Project area census and commencement of the Relocation Action Plan.
● Advancement of marketing studies, with off-take agreements in negotiation and the first MoUs in place.
● The infill drilling program is due for completion in August, which will deliver an upgraded resource of more than 50 Mt in Measured and Indicated categories with a mine life of more than 20 years.


The project economics remain attractive and the DFS is on track for completion to draft level in December 2012. This will allow Globe to make the project commitment decision in February 2013. Globe has commenced negotiations with the Government of Malawi towards finalising the Project Development Agreement and hopes to produce the first ferro-niobium at Kanyikain late 2014, early 2015.

 

[springhill]

Share Buy-Back Update

Globe Metals & Mining Limited advise that the Company continues to undertake the current on-market share buy-back as per the ASX announcement on 25 January 2012. To date, the Company has bought up to 4,000,000 shares representing just under 2% of the issued capital, with 6,080,674 shares remaining to be bought.
Veritas Securities Limited (ACN 117 124 535) has been appointed as the managing advisor to undertake the current on-market share buy-back. Veritas Securities Limited has an execution and clearing agreement through market participant Pershing Securities Australia Pty Ltd (ACN 136 184 962) to execute trades.
Globe commenced its share buy back on 14 June 2012 following the approval from the Australian Foreign Investment Review Board for the Company to buy-back of up to 5% (10,080,674 shares) of its issued capital as part of the Company’s strategy to manage its capital base in the best interests of the shareholders.
The Globe Board reiterates that timing for the decision to buy its own shares on market is discretionary, and that the authorisation period for the buy-back is twelve months. The Company has previously indicated that it will consider buying back shares at up to $0.23 per share.
With the Kanyika Project Definitive Feasibility Study (“DFS”) on track to be completed on time and within budget, improved management and internal controls, and its strong cash position, the Company remains confident in its project development program and expects to complete the share buy-back on schedule.

 

[greggles]

GBE share price flying this morning after the company announced that it has received formal notification from the Principal Secretary of Mining that the Malawi Government's Mineral Resources Committee has reviewed GBE's mining licence application for the Kanyika Niobium Project (AML0026) and recommended the grant of a Mining Licence.

Looks like this project is going ahead. Very good news for holders and exciting time for GBE. Share price is currently up 130.77% to 9c.

 

[Stockbailx]

GBE up another 27% with standing the pressure of a strong spike and rise on Monday. Lots to look forward to with uranium stocks...