As mentioned, it shows that good progress has been made this year to get the mine running as smoothly and efficiently as possible.
I am optimistic in the medium to long term, but better communication and clearer goals and timelines are important when trading resumes.
- Aftan's third shipment of industry leading high purity tantalum has been sent to its customer, a global North American leading tantalum consumer and end user of our tantalum ore, with a fourth shipment currently being tested by a third party before being sent
- Drilling commenced on two exploration campaigns in the Homestead and Lepidolite locations to evaluate further resource potential around the NTI mine
- The MSA Group, Aftan's competent person, drilled over 400 metres, with cores being cut and organised to be sent out to ALS Laboratories before the year end. Aftan employed a second geologist, experienced in exploration, for approximately one quarter to aid this program
Further successful plant upgrades and purchases:
- Installation of dam under the thickener for improved water recirculation
- Installation of larger slurry pumps for increased run time efficiency and through put maximisation
- Bulk Diesel Tanks installed, with first diesel delivery expected before year end
- Two additional boreholes drilled
- Additional water pumps fitted and installed
- Further solar panels have been installed
- Two 60k litre dams have been purchased
A successful visit by the customer and a second potential customer took place in Q4 2017. The second potential customer began an audit of the NTI mine and intends to continue discussions with the company in Q1 2018.
In conjunction with its own preliminary studies, Aftan engaged with a third party environmental expert to consider the safest and most efficient way of using water from the nearby Orange River in order to aid increased production at the NTI mine.
Aftan continues to focus on delivering its shipments of industry leading quality tantalum from the NTI mine to the customer and is pleased to note that a third shipment has been delivered to the customer.
Aftan is currently having a fourth shipment assay tested by a third party and will update shareholders upon its final delivery to the customer.
In line with its production requirements defined by its customer, Aftan continues to upgrade the NTI mine with the successful installation of a dam under the thickener to capture water from the mine's cyclone which is then recirculated back into the system.
Aftan has also installed larger slurry pumps with improved wear casings and impellors which will continue improving the mine's run time efficiency and through put.
Bulk diesel tanks were installed with first diesel delivery expected before year end. Aftan also added two more boreholes, additional pumps, solar panels and two 60k litre dams to the plant which will be installed in the near future.
Aftan was delighted this quarter to host the customer, as well as a second potential customer, at the mine. The company was also pleased to note that the second potential customer began an audit of the mine and wishes to meet with Aftan in Q1 2018 to continue supply discussions.
As Aftan continues to consider future-proofing of the mine and meet the production ramp up schedule, it contracted a third party environmental expert to begin the process of achieving certified rights to bring water from the Orange River as well as to establish certification to move potentially hazardous materials.
Aftan also secured a new agreement with a local supplier for fixed pricing of all of Aftan's personal safety equipment and for a consignment of repeat usage items. This reduces lead time and improves working capital, moving Aftan to a fixed cost model and increasing Aftan's local country spend.
1. Didn't mention anything about water bore holes results
2. Lithium operation - diamond drilling programme commenced on 16 October 2017, didn't say when the results due
3. A second shipment tantalum is currently in transit to customer ++
4. the customer site visit in first week of Nov
5. A second potential Customer?
++18/09/2017 RNS said- Aftan's second shipment has been sent with the third expected to be delivered during Q4 with further shipments to follow. Does it mean the shipment takes more than a month?
Kennedy Ventures plc ("Kennedy Ventures" or "the Company), the AIM quoted investment company, who through its stake in African Tantalum (Pty) Limited ("Aftan") has an interest in the Namibia Tantalite Investment Mine ("NTI") (historically referred to as Tantalite Valley Mine) in Namibia, is pleased to provide an operational update.
· A second shipment of industry leading high purity tantalum is currently in transit to Aftan's customer, with further shipments planned before years end in line with our ramp up agreement with the Customer.
· Plant upgrades continue with the installation and commissioning of the Primary Crusher, which is performing well. New number one and number two screens along with new conveyors in the crusher circuits have been installed, allowing for a more ergonomic and consistent sizing flow, significantly increasing efficiency.
· Our current North American Global Customer will be visiting the NTI mine the first week of November and will be reviewing the changes we have implemented along with continued discussions of our ramp plan since their last visit.
· A second potential Customer will be performing a thorough audit of our systems as well as discussing around potential supply.
· Closed on a multi-year bulk diesel agreement with the local government, Namcor, which will increase our logistics efficiency, utilising a 23kltr tank and pump system with a once a month delivery at well below pump pricing costs
· Negotiations with the Miners Union ("MUN") has resulted in a newly signed multi-shift agreement being agreed, in line with previous announcements. This is expected to be signed this week by the Minister of Labors Office.
· In the process of securing a fixed cost agreement with a local supplier for Personal Protective Equipment ("PPE"), eliminating variable cost from operations and continues our country based spend improvements.
· Recent pegmatite mapping by The MSA Group, whom have been working on behalf of a subsidiary of Kennedy Ventures plc, Tameka Shelf Company Four (PTY) Ltd, has confirmed the presence of a number of Lithium-Caesium-Tantalum (LCT) type pegmatites that are considered to be highly prospective for lithium and tantalite mineralization. The mapping was used to design the current diamond drilling programme, which commenced on 16 October 2017 with additional drilling being planned to commence immediately after the current programme.
New Installations and plant upgrades continue at the NTI mine which is now producing Tantalum grades at world class levels, as required by its end user a leading manufacturer of electronic components. Our second shipment has been sent and the company is confident that it will be able to deliver further shipments before year end. The Customer is planning to visit the site in the first week of November to view the plant upgrades since their last visit in May. Along with this, a second potential Customer will be performing a thorough audit of the plant with a view to potentially arranging shipment.
The MSA Group, whom have been working on behalf of a subsidiary of Kennedy Ventures plc, Tameka Shelf Company Four (PTY) Ltd, have recently completed a pegmatite mapping exercise at Tantalite Valley. The results of which have confirmed the presence of a number of Lithium-Caesium-Tantalum (LCT) type pegmatites that are considered to be highly prospective for Lithium and Tantalite mineralization. The mapping has so far been used to design the current diamond drilling programme, which commenced on 16 October 2017, this programme is focused on the pegmatites known to contain lepidolite and spodumene lithium mineralization in addition to tantalite mineralization. Additional drilling is planned to commence immediately after the current programme with the intention to define a Mineral Resources on the most prospect
it close over 5p (despite what it says on here), although I'm not going to get too interested until it gets back above 6p comfortably away from the Placing price and I can believe that we're back on track from earlier in the year.
TBTT - there is no insider trading here. Pi didn't like operational update RNS because there wasn't much details in it and many pi started selling the shares. Hence, share price dropped. Then Tracarta bought those cheap shares.
I had a limit on all day for 5p ( D ) lifted at 4pm but not before other deals seen going through at 4.95 to buy and offered that 4.95p live with ( W ) .
Cheap deals not always so cheap if your paying a higher price.
... but still timorous about taking the plunge. My principal concern is the Co's endless failures to meet its own targets and its use of double-speak. Even in the most recent Trading Update they talk of two, then one, shipment in Q4; which is it? I suppose it signals the problem of not being in direct control and that's another worrying factor. As is the supply of water. The processing plant will be drinking water like nobody's business; does anyone know if they have a filtering and recycling system in place? If not, how long will the aquifer source hold up; moreover, what's going to be the impact on the villages that draw their water from the same source(s)? All very well and good promoting education locally but the brownie points will swiftly evaporate if the mine renders the area devoid of a water supply.
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