SP Angel says “FinnAust Mining is de risking the Pituffik project in a methodical process”

 

  • Royal IHC, the Dutch dredging company is to support FinnAust Mining on the development of the Pituffik titanium mineral sands project in Greenland.
  • Support from Royal IHC is a major advance for FinnAust as the company is able to mobilise and supply significant resources to help FinnAust in progress towards development.
  • Royal IHC is a world leader in dredging in deep and shallow marine environments and will work closely with FinnAust to define and optimise development solutions for the Pituffik project.
  • The two companies will work together to produce a ‘proof-of-concept’ bulk sample next year and will work on expanding the operation into a long-life operation.
  • Pituffik appears to host a low impurity ilmenite.  Offtakers look for low impurity ilmenite concentrates for blending and onward supply to consumers for pigment production with pigment estimated to have risen by 6-12% in Q1 yoy.
  • The ability to ship this material with relatively simple and little processing should be a key advantage for the Pituffik project.

SP Angel Conclusion:  FinnAust is de risking the Pituffik project in a methodical process.  The support of such a large dredging company ‘Royal IHC’ is a major step toward the eventual development of the project.

* SP Angel acts as nomad and broker to the company

 

DISCLAIMER

This note has been issued by SP Angel Corporate Finance LLP (“SP Angel”) in order to promote its investment services.

This information is a marketing communication for the purpose of the European Markets in Financial Instruments Directive (MiFID) and FCA’s Rules. It has not been prepared in accordance with the legal requirements designed to promote the independence or objectivity of investment research.

This document is not based upon detailed analysis by SP Angel of any market; issuer or security named herein and does not constitute a formal research recommendation, either expressly or otherwise.

The value of investments contained herein may go up or down. Where investment is made in currencies other than the base currency of the investment, movements in exchange rates will have an effect on the value, either favourable or unfavourable. Securities issued in emerging markets are typically subject to greater volatility and risk of loss.

This note is confidential and is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published in whole or in part, for any purpose.

Neither the information nor the opinions expressed herein constitutes, or is to be construed as, an offer or invitation or other solicitation or recommendation to buy or sell investments. This information is for the sole use of Eligible Counterparties and Professional Customers only and is not intended for Retail Clients, as defined by the rules of the Financial Conduct Authority (“FCA”) and  subject to SP Angel’s Terms of Business as published or communicated to clients from time to time.

It is not investment advice and does not take into account the investment objectives and policies, financial position or portfolio composition of any recipient. This document should not to be relied upon as authoritative or taken in substitution for the exercise of you own commercial judgment. SP Angel is not responsible for any errors, omissions or for the results obtained from the use of the information in this document.

This document has been prepared on the basis of economic data, trading patterns, actual market news and events, and is only valid on the date of publication. SP Angel does not make any guarantee, representation or warranty, (either expressly or implied), as to the factual accuracy, completeness, or sufficiency of information contained herein. This document has been prepared by the author based upon information sources believed to be reliable and prepared in good faith.

SP Angel, its partners, officers and or employees may own or have positions in any investment(s) mentioned herein or related thereto and may, from time to time add to, or dispose of, any such investment(s).

SP Angel Corporate Finance LLP is a company registered in England and Wales with company number OC317049 and whose registered office address is Prince Frederick House, 35-39 Maddox Street, London W1S 2PP.  SP Angel Corporate Finance LLP  is authorised and regulated by the Financial Conduct Authority whose address is 25, The North Colonnade, Canary Wharf, London E14 5HS and is a Member of the London Stock Exchange plc.

 

 

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