Announcement • May 03
Mineral Commodities Ltd, Annual General Meeting, May 30, 2024 Mineral Commodities Ltd, Annual General Meeting, May 30, 2024, at 14:00 W. Australia Standard Time. Location: Level 9 Mia Yellagonga Tower 2, 5 Spring Street Perth Western Australia Australia Agenda: To consider Adoption of the Remuneration Report (Non-Binding); to consider Re-election of Director Russell Gordon Tipper; to consider Approval of Issue of Shares to Related Party Au Mining Ltd on Conversion of Convertible Notes; to consider Approval of Incentive Performance Rights and Options Plan; to consider Approval for issue of Shares to Gold Terrace Pty Ltd. Announcement • Oct 11
Mineral Commodities Ltd Announces Primary Drilling and Ore Production Has Recommenced at the Skaland Graphite AS Mineral Commodities Ltd. advised that primary drilling and ore production has recommenced at the Skaland Graphite AS operations following a mechanical failure of the primary ore production drill rig. MRC Graphite (Norway) Pty Ltd. (a subsidiary of the Company) (‘MRCGN’) owns 100% of Skaland Graphite AS (‘Skaland’). A rental drill rig has been sourced and commissioned at Skaland to replace the primary ore production drill rig (Tamrock Data Solo 1020) that suffered in-service failure in September 2023. As previously reported, the Skaland owned rig was originally built in 2002 and is approaching the end of its useful life. Recommencement of drilling is approximately one week ahead of initial estimate of mid-October 2023. The rental drill rig, while currently operational and performing, is also an older rig and the Company is continuing to consider options to replace the current rental rig with a new or more recently built second hand unit. A decision is expected on longer term solution as part of the upcoming 2024 budget planning cycle. Now that the rental drill rig is settling into operations, ore production has recommenced and the process plant is expected to begin producing finished product in coming days. The first shipment of graphite by barge ex Skaland is expected late October /early November 2023. Business impact. The Company previously estimated a negative impact to cash flows of approximately USD 0.6 million - USD 0.9 million depending on the timing of delivery of the rental machine. A revised estimate is USD 0.6 million. Announcement • Sep 01
Mineral Commodities Ltd Appoints Scott Lowe as Chief Executive Officer, Effective 1 September 2023 Mineral Commodities Ltd. has appointed Scott Lowe as Chief Executive Officer (with effect from 1 September 2023). Scott is a senior mining executive with extensive experience in the industry spanning more than 35 years in a wide range of commodities and countries. His current role is Managing Director with Firefinch Ltd. until 31 August 2023, and in recent years he has worked with South32 in Australia and as CEO of ArcelorMittal's West African mining business in Liberia. His career has included being CEO of publicly listed mining exploration and development companies and senior management positions in BHP and Peabody Pacific. Announcement • Jul 27
Mineral Commodities Ltd Announces Appointment of Scott Lowe as Chief Executive Officer with Effect from 1 September 2023 Mineral Commodities Ltd. announced the appointment of Scott Lowe as Chief Executive Officer (with effect from 1 September 2023). Scott is a senior mining executive with extensive experience in the industry spanning more than 35 years in a wide range of commodities and countries. His current role is Managing Director with Firefinch Ltd. until 31 August 2023, and in recent years worked with South32 in Australia and as CEO of ArcelorMittal's West African mining business in Liberia. His career has included being CEO of publicly listed mining exploration and development companies and senior management positions in BHP and Peabody Pacific. During the course of his career, Scott has worked in a range of jurisdictions including Africa and delivered outstanding results in challenging environments including achieving record production and low costs in an open cut operation in West Africa during the pandemic and managing the start-up of new open cut and underground mines in South Africa and West Africa. Commercially, Scott is very experienced in dealing with public markets, has raised capital, and negotiated successful Joint Ventures with BHP and Glencore. Importantly, Scott has a strong track record in establishing and maintaining positive relationships with governments, communities, employees and unions as well as other external stakeholders that are essential for business success. Scott holds a post-graduate qualification in Business Management (MBA) along with tertiary qualifications in Mining Engineering, a Mine Manager's Certificate of Competency (Australia), and a Diploma in Marine Terminal Operations from King's Point Merchant Marine Academy NY USA. Adam will continue as CFO and a valued member of the Mineral Commodities executive team. Announcement • Jan 07
Mineral Commodities Ltd Announces Resignation of Jacob Deysel as Managing Director Mineral Commodities Ltd. announced that Managing Director, Jacob Deysel has resigned for personal reasons. Jacob will remain available in an advisory capacity to continue to support the Company to execute on its vision. Adam joined the company in April 2017 and became CFO in June 2019, bringing with him nearly three decades of experience across global resource companies. MRC Chairman Brian Moller thanked Jacob for his significant contribution to the Company since 2021. Jacob laid the foundation for the company's Five Year Strategic Plan 2022-20261 and the recent Rights Issue that was strongly supported by shareholders. Announcement • Jan 06
Mineral Commodities Ltd Announces CEO Changes Mineral Commodities Ltd. announced that CEO Jacob Deysel has resigned for personal reasons. Jacob will remain available in an advisory capacity to continue to support the Company to execute on its vision. MRC's Chief Financial Officer (CFO) Adam Bick will assume the role of Interim CEO, effective 6 January 2023. Adam joined MRC in April 2017 and became CFO in June 2019, bringing with him nearly three decades of experience across global resource companies. Announcement • Jan 05
Mineral Commodities Ltd has completed a Follow-on Equity Offering in the amount of AUD 9.947727 million. Mineral Commodities Ltd has completed a Follow-on Equity Offering in the amount of AUD 9.947727 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,333,333
Price\Range: AUD 0.075
Discount Per Security: AUD 0.00225
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 129,840,186
Price\Range: AUD 0.075
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,462,840
Price\Range: AUD 0.075
Transaction Features: Rights Offering Announcement • Dec 28
Mineral Commodities Ltd. Appoints Brian Moller as Director Mineral Commodities Ltd. appointed Mr. Brian Moller as Director, effective December 23, 2022. Announcement • Dec 16
Mineral Commodities Ltd Receives Notice of Default from BSG Mining LLC Mineral Commodities Ltd. received a notice of default (Default Notice) from minority 10% shareholder BSG Mining LLC (BSG) in relation to the shareholders deed between MRC Graphite (Norway) Pty Ltd. (a subsidiary of the Company) (MRCGN), BSG and Skaland Graphite AS entered into on 13 February 2020 (Shareholders Deed). The Company is currently reviewing the Default Notice and is seeking external advice. While MRCGN and the Company do not acknowledge any breach of the Shareholders Deed, the Company continues to be in discussions with BSG regarding the Default Notice and the process to rectify any alleged breaches. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Acting Chairman Russell Tipper was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 05
Mineral Commodities Ltd has completed a Follow-on Equity Offering in the amount of AUD 1.749654 million. Mineral Commodities Ltd has completed a Follow-on Equity Offering in the amount of AUD 1.749654 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,328,720
Price\Range: AUD 0.075
Transaction Features: Subsequent Direct Listing Announcement • Sep 26
Australian Federal Government Confirms Mineral Commodities Ltd.'s Successful Grant Application for Critical Minerals Mineral Commodities Ltd. announced that the newly elected Australian Federal Government has confirmed MRC's successful grant application for critical minerals. The grant funded Project (the Project) is comprehensive, and includes the following activities: · Upstream pilot scale operations to produce concentrate from Munglinup ore for downstream piloting. Downstream pilot plant development and operations at Australia's national science agency, CSIRO. Downstream pilot will include the key steps of spheronisation, purification and coating to produce Coated Purified Spherical Graphite (CPSG) - an active anode material for lithium-ion batteries. · Supply of CPSG to customers for qualification and offtake agreements. · Updated Munglinup Feasibility Study with modular design aligned with qualification demand and optimisation testwork, incorporating supporting studies on mine scheduling, mine electrification and digitization, and logistics. · Delivery of downstream and ore-to-anode Definitive Feasibility Study based on Munglinup Graphite Project (MGP). It will support a decision by MRC to increase in its equity position in MGP to 90% and a Final Investment Decision (FID) on an integrated MGP and downstream development in Australia. The development of MGP is a significant element of MRC's Strategic Plan 3 to significantly increase graphite concentrate production beyond the current operating Skaland graphite mine in Norway. MRC has conducted significant work on the Skaland graphite processing plant, which will be integrated into the Munglinup flowsheet, demonstrating the ownership benefits from Skaland Graphite AS. Concentrate from Skaland Graphite will be used initially in the downstream piloting, whilst Munglinup concentrate is being generated. This will support validation of the downstream processing on Skaland concentrate and provide Skaland samples for customer qualification. The battery anode product qualification of MGP and Skaland graphite ore feedstock is another significant element of MRC's Strategic Plan unlock the full value of MRC's Battery Minerals division. The focus of the grant funded project is an integrated, ore-to-anode material development of MRC's Munglinup Graphite Project. The project supports optimisation of the MGP flowsheet, downstream piloting to produce CPSG for customer qualification and offtake agreements, as well as supporting studies for MGP. The key deliverables for the project are: · CPSG samples from Munglinup and Skaland concentrate at the 20kg + scale (referred to as "B" samples) for customer qualification and offtake agreements, and · An Integrated Ore-to-Anode Materials Definitive Feasibility Study (DFS) for Munglinup The Project together with environmental approvals for MGP (expected in December quarter 2022) will position the Company to increase its equity interest in MGP to 90% and make a Final Investment Decision on an integrated MGP development. Reported Earnings • Sep 01
First half 2022 earnings released: US$0.009 loss per share (vs US$0.002 profit in 1H 2021) First half 2022 results: US$0.009 loss per share (down from US$0.002 profit in 1H 2021). Revenue: US$25.9m (up 8.9% from 1H 2021). Net loss: US$4.26m (down US$5.11m from profit in 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. Announcement • Aug 25
Mineral Commodities Ltd Announces Strandline Extension Targets Identified at De Punt Mineral Commodities Ltd. and its empowerment partners, Blue Bantry Investments 255 (Pty) Ltd. announced results of an airborne magnetic and radiometric ("AMR") survey over the De Punt Prospecting Right, south of Tormin operation. The De Punt Prospecting Right (WC 30/5/1/1/2/10240PR) is held by the Company's 50% owned South African subsidiary, Mineral Sands Resources (Pty) Ltd. ("MSR"). Data processing of 564-line kilometres of high-resolution AMR survey indicates: Two main linear magnetic trends within the De Punt tenement. The Western linear trend is 13 km long and the Eastern linear trend has an aggregate length of 8 km. The magnetic trends appear to be geologically aligned and extend the reported 212.7Mt Mineral Resources and 21.8Mt maiden Ore Reserves of the Tormin Western and Eastern Strandlines. The assumption is that similar mineralisation should extend within the De Punt prospecting right, as shown in Total Magnetic Intensity map. Seven major drilling targets (identified along strong magnetic anomalies) have been identified over strike of the Western and Eastern Strandlines extensions in De Punt, covering an area of approximately 700 hectares. The Company completed surface topography mapping and has mobilised a drilling contractor to commence exploration drilling at De Punt. The proposed exploration program will consist of 5,000 metres of air core drilling to test the magnetic anomalies in different areas along strike of the identified inland strands. The plan will target delineating a JORC Code (2012) compliant maiden Mineral Resource. MSR is committed to carrying out the exploration program and the potential projectdevelopment within the prescript of the approved Prospecting Works Programme, BasicAssessment Report, and its associated Environmental Authorisation. Relevant stakeholderswill be kept informed with the development of the prospecting activities and all engagementwill be conducted with the utmost respect as part of the Company's Environmental, Social and Governance ("ESG") responsibilities. Announcement • May 30
Mineral Commodities Ltd Announces the Successful Completion of CRC-P Project Completion & CSIRO Collaboration Update Mineral Commodities Ltd. announced the successful completion of the Cooperative Research Centres Projects (CRC-P) project 3 with Australia's national science agency, CSIRO, and Doral Fused Materials. CSIRO conducted 534 purification tests in the CRC-P project at increasing scale, including 84 lock cycle tests to simulate industrial processing. Testing was completed on both Munglinup and Skaland material in various forms including flake graphite concentrate, micronized flake, spherical graphite and spheronisation fines. The project achieved battery grades (minimum of 99.95% purity) for both Munglinup and Skaland spherical graphite 4 with typical recoveries to product of 90%. Generally, Munglinup material is marginally easier to purify, with a 0.01% higher (absolute) purity in the process. The CSIRO-developed process avoids the use of environmentally unfriendly HF acid. The process has been developed from first principles independently by CSIRO in sixteen stages of development including optimisation and scale-up, and associated reporting. MRC is delighted to be able to continue with its partnership with the expert CSIRO team on developing an environmentally sustainable purification process in the CMAI pilot scale project 5. The collaboration with CSIRO will be broadened in the CMAI project to include optimising the graphite spheronisation (shaping) process and scale-up of carbon coating to produce high-margin CPSG further enhancing Australian capabilities in this area of the critical minerals supply chain. CSIRO will also conduct, electrochemical testing on lithium- ion battery electrodes produced from the CPSG. The CMAI project will allow MRC to supply larger quantities of customer qualification samples to secure offtake agreements MRC and CSIRO are currently in the process of formalising the partnering arrangement as part of the CMAI grant agreement. MRC will also engage Australian METS sector for: piloting of concentrate production, optimised Munglinup Definitive Feasibility Study (DFS), and delivery of an integrated ore-to-anode materials DFS in the CMAI project for commercial scale production. Initial samples from the CSIRO mini-pilot plant developed in the CRC-P project have been provided to Mitsubishi with positive feedback. The mini-pilot is currently generating additional samples for customer evaluation to further support the Mitsubishi strategic collaboration agreement and provide samples to Traxys to support offtake agreements. Other near-term activities include pre-engineering for key equipment for the CMAI pilot plant and further evaluation of the optimisation activities identified in the CRC-P project. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Debbie Ntombela is the most experienced director on the board, commencing their role in 2019. Independent Non-Executive Acting Chairman Russell Tipper was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 19
Mineral Commodities Ltd. Announces Its Application for Grant Funding Mineral Commodities Ltd. announced that its application for grant funding under the Commonwealth Government's Critical Mineral Acceleration Initiative (CMAI) has been successful. The Commonwealth Government will contribute up to $3.94 Million to support the development of an integrated graphite ore-to-battery anodes business based on MRC's Munglinup Graphite Project in Western Australia. The grant directly supports Stage 1 of the overall project of developing an integrated ore- to-battery anode materials business. Stage 1 includes: Process optimisation and pilot scale processing of MGP ore to deliver concentrate for the downstream pilot plant. Development, commissioning and operations of a downstream pilot plant including: Optimisation of the spheronisation process (flake graphite concentrate shaping process). Purification of the spherical graphite based on the non-HF purification process developed under the CRC-P Project. 1,2 Development of a coating process to produce high-margin coated purified spherical graphite (CPSG). Electrochemical testing on batteries made with CPSG. Supply of larger-scale customer qualification samples to secure offtake agreements. Definitive Feasibility Study (DFS) on integrated ore-to-anode materials development, including updated MGP DFS aligned with qualification and commercialisation. Furthermore, the acceleration of Stage 1 will help bring forward MGP development as Stage 2 of the overall project. MRC's Skaland Graphite AS' operations and its laboratory-scale downstream activities highlight the significant benefits of an integrated ore-to-battery anode approach to anode materials supply from technical, quality management and business profitability perspectives. This approach allows for optimisation across the whole supply chain to continuously achieve the tight product specifications required for graphitic anode materials supply for lithium-ion batteries. Developing an integrated ore-to-battery anodes business in this project is strongly aligned with CMAI program objectives of: helping Australian Critical Minerals projects contribute to supply chains of strategic importance, and supporting and lowering risks associated with critical development activities to help progress towards offtake qualification and seeking debt financing to proceed to production. Announcement • Apr 08
Munglinup Electromagnetic Survey Indicates Excellent Targets Mineral Commodities Ltd. announced results of high-resolution helicopter borne electromagnetic and magnetic survey over its Munglinup tenements ("Munglinup Graphite Project") in the Great Southern Region of Western Australia. The Munglinup Graphite Project is recognised by the Australian Government as a Critical Mineral Project and included in the Australian Critical Minerals Prospectus in 2020 and 2021. 206-line kilometres of high-resolution aeromagnetic survey and associated data processing has identified that: (i) the known graphite deposits (Halberts Main, Halberts South, Whites, Harris, McCarthy) in M74/245 may be contiguous; (ii) the known mineralisation may extent into E 74/565 to the east, and (iii) identified new geophysical anomalous zones in M74/245 and E 74/565 that may contain graphite mineralisation. The Company has identified 12 priority targets for further evaluation. The strong electromagnetic conductor zones covering an area of approximately 120 hectares, while the known graphite deposits include an aggregate area of 35 hectares (Figure 6). It intends to commence a 3,000m RC drilling program by September quarter 2022, designed with a view to expanding the resource base, convert inferred resources into higher categories, and drill the new geophysical anomalous areas. The plan will target delineating a JORC Code (2012) compliant updated Mineral Resource and Ore Reserve. The Munglinup graphite deposits occur in a zone of Archean to Paleoproterozoic graphitic gneisses within a sequence of hornblende and hornblende-garnet gneisses in the Albany- Fraser Orogen. Rocks have been broadly folded about a WNW-ESE axis, with superimposed minor anticlinal and synclinal flexures. Complex small-scale folding and faulting is common in the relatively incompetent graphitic rocks and the enclosing competent hornblendic gneisses appear to be less deformed. The Munglinup resources (Mineral Resource of 7.99 million tonnes at 12.2% TGC and Ore Reserve 4.24 million tonnes at 12.8% TGC) 1 are open along strike and at depth. Past exploration has been focused near surface and has been driven by targeting quick, easy tomine deposits. The Project is on a mining lease granted to 2031, within a designated Mining Reserve. Munglinup Life of Mine ("LOM") exceeds 14 years, based on LOM processing throughput of 400kt per annum in years 1-6 and 500kt per annum in years 7-14, resulting in an average graphite concentrate production of 52kt per annum. Announcement • Apr 07
Mineral Commodities Ltd, Annual General Meeting, May 27, 2022 Mineral Commodities Ltd, Annual General Meeting, May 27, 2022, at 10:01 W. Australia Standard Time. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: US$0.008 loss per share (down from US$0.032 profit in FY 2020). Revenue: US$50.5m (down 21% from FY 2020). Net loss: US$3.31m (down 123% from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Feb 18
Mineral Commodities Ltd and Blue Bantry Investments 255 (Pty) Ltd announce Maiden JORC Ore Reserve for the Western Strandline of the Tormin Mineral Sands Operation in South Africa Mineral Commodities Ltd. and its empowerment partner, Blue Bantry Investments 255 (Pty) Ltd, are announced a Maiden JORC Ore Reserve for the Western Strandline of the Tormin Mineral Sands Operation in South Africa. The Western Strandline Ore Reserve is located within Prospecting Right 10262PR (WC 30/5/1/1/2/10262PR) and includes the inland portions of the 162 & 163 Expanded Mining Right ("EMR") of the company's 50% owned South African subsidiary, Mineral Sands Resources (Pty) Ltd. ("MSR"). The Tormin Inland Strands deposits comprises the Western and Eastern Strandlines which run directly behind the existing beach mining areas and adjacent to the current processing infrastructure at Tormin. The Maiden Ore Reserve is a sub-set of the Western Strandline Mineral Resource estimate of 193 million tonnes at 9.5% Total Heavy Minerals ("THM") 2 as announced in December 2021. Specifically, it is based on the 74 million tonnes of measured, indicated and stockpiled resources. The company is planning a phase-3 drilling program designed to infill the inferred resource of the Western and Eastern Strandline and will target delineating a JORC Code (2012) compliant updated Mineral Resource and Ore Reserve. The Maiden Ore Reserve estimate is based on a Pre-Feasibility Study ("PFS"), using modifying factors applied on measured and indicated Mineral Resources. The Ore Reserve is classified as Proven and Probable in accordance with the JORC Code 2012 and requirements of the ASX Listing Rule 5.9. The orebody contains a high grade heavy mineral assemblage and will produce profitable mineral sands products. The Maiden Ore Reserve is estimated at 21.8 Mt of ore with an average THM grade of 31% resulting in 6.7Mt of in-situ Heavy Minerals in Proven and Probable categories. It encompasses approximately 8km in total length across 153 hectares adjacent to the existing plant. The Inland Strand Project is based on a staged development approach. Stage 1 involves a 1.2Mtpa mining and processing operation within the already granted Expanded Mining Right (162 & 163 EMR) and Stockpiled ore - where 7.9Mt of Ore Reserves are available. Mining operations are then planned to extend into the new Mining Right application areas (located wholly within 10262PR and the Company-owned farm Geelwal Karoo 262), with the 13.9 Mtpa of Ore Reserves in this area underpinning a doubling of Inland Strand production to a 2.4Mtpa operation in Stage 2. Regulatory approvals will be required to extend mining activities outside the existing granted EMR and preparations for applications are at an advance stage. The Maiden Ore Reserve is expected to support mining operations for more than 10 years. Material Assumptions and outcome of the Pre-Feasibility Study: The company has significant experience in the heavy mineral sands industry having operated the Tormin Mineral Sands Mine since 2014, mining and processing more than 15Mt of ore in its approximately 2.6Mtpa plant to produce non-magnetic (zircon and rutile), garnet and ilmenite concentrates for export. Following the grant of the Section 102 Expanded Mining Right from the South African Department of Mineral Resources and Energy ("DMRE") in June 2020, the Company engaged Minsol Engineering to undertake a Pre-Feasibility Study ("PFS"). The staged development program in the PFS uses existing processing equipment where possible, complemented with the installation and commissioning of additional equipment to process the Inland Strand ore. The implementation strategy will reduce pre-development capital, support the replenishment of the Tormin current beaches, as well as expansion of Inland Strand processing on receipt of additional mining rights, to increase revenues. The development stages are: Stage 1: 1.2Mtpa Inland Strand operation during 2022-2024 on the current EMR Ore Reserves; Stage 2: Expansion to 2.4Mtpa targeting late 2024 following receipt of additional mining rights. The Ore Reserve within the granted EMR supports up to 6.5 years of Stage 1 operations, de- risking the timing of the grant of additional mining rights required for Stage 2. The PFS, used for the economics in the Ore Reserve Estimate, indicates that the project is technically low risk, delivering a low capital cost solution with attractive financial outcomes which easily surpasses MRC's internally generated minimum investment criteria. Stage 1 is funded from a combination of cash flows generated from the company's current business operations and funding facilities in place in South Africa. Executive Departure • Sep 15
Non-Executive Director & Company Secretary Peter Torre has left the company On the 13th of September, Peter Torre's tenure as Non-Executive Director & Company Secretary ended after 15.2 years in the role. As of June 2021, Peter still personally held 1.63m shares (AU$333k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.25 years. Announcement • Jul 20
Mineral Commodities Ltd. Announces High Grade Drilling Results at Traelen Graphite Mine Mineral Commodities Ltd. (MRC or the Company), through its 90% owned subsidiary, Skaland Graphite AS ("Skaland"), announced the results of a down dip resource drilling program at the Trælen Graphite Mine ("Trælen"), at the Skaland Graphite Operation located on the island of Senja, Norway. Significant results (minimum interval of 5m) from the diamond drilling program at Trælen included: TR2021_01) 15.7m @ 30.6% TGC from 99.9m and 7.3m @ 21% TGC from 122.9m; TR2021_02) 9.5m @ 28% TGC from 132.2m; TR2021_03) 14.5m @ 27.1% TGC from 210m; TR2021_04) 27.7m @ 35.6% TGC from 63.2m, including 5m @ 44.5% TGC from 81m; TR2021_05) 7.1m @ 37.7% TGC from 141.5m and 26.3m @ 38.2% TGC from 151m, including 11.7m @ 41.5% TGC from 153m; TR2021_06) 16.8m @ 35.3% TGC from 80m, including 5.5m @ 40.7% TGC from 89m; TR2021_10) 21.3m @ 30.2% TGC from 162m. Mineralisation is observed to be increasing in grade when compared to historically mined up-dip levels and graphite flake size is reported as medium to large. In March 2021, the Company commenced a 3,000m drilling program including 17 holes from the existing development on level +25mRL, focused on resource expansion down dip. To 30 June, 2,167m of drilling from 14 holes have been completed down-dip at Trælen, with the drilling program expected to be finished in August 2021. This drilling has confirmed Trælen to be a continuous steep, west-northwest dipping ore body with the mineralised horizon isoclinally folded. The thickest, most continuous mineralisation occurs as lens-shaped bodies oriented parallel to the main fold axis. This horizon contains economically interesting instances of graphite, with drilling from this program intersecting ore zones up to 27 metres wide. Assay results from infill and step-out drilling along strike confirm continuity of the Trælen mineralisation and the potential to upgrade the Mineral Resource tonnes/classification confirming Trælen as one of the world's highest-grade operating graphite mines. All diamond holes have been drilled by an underground rig - Diamec Smart 6, with a core diameter of 47.6mm NQ. The program has been designed to provide sufficient geological and assay data to allow for an update to the current JORC Mineral Resource (1.76 million tonnes at 22% TGC using a 10% cut-off)2 by the end of Q3/2021. Significant graphite bearing intersections in the diamond core have been sampled by splitting the core longitudinally, with the mineralised zone sampled every metre, except for boundaries where a longer or shorter interval was taken, and samples submitted to an accredited laboratory. In addition, duplicates, blanks and CRMs have been inserted randomly for at least every 20 samples for QA/QC purposes. Already, a total of 179 samples collected from 7 holes have been assayed at the ALS laboratory in Sweden ("ALS Scandinavia") for Total Graphitic Carbon ("TGC"), Total Carbon ("TC"), and Total Sulphur ("TS") by LECO furnace and infrared spectroscopy. High grade graphite has been intersected in all holes, but only intervals of greater than 20% TGC and more than 5m in length have been reported in this release given the prevalence of high-grade graphite zones throughout the results. Announcement • Jul 06
Mineral Commodities Ltd has completed a Follow-on Equity Offering in the amount of AUD 3.199 million. Mineral Commodities Ltd has completed a Follow-on Equity Offering in the amount of AUD 3.199 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 22,850,000
Price\Range: AUD 0.14
Transaction Features: Subsequent Direct Listing Announcement • Jun 11
Mineral Commodities Ltd Announces Commencement of Decline Mining at Traelen Graphite Mine Mineral Commodities Ltd. announced that mining operations have commenced at the Trælen Mine accessing the decline of the main Trælen deposit. The first ore face from the newly completed decline was blasted on 10 June 2021. The Skaland Graphite Operation is located in northern Norway on the island of Senja. Tromsø is the nearest major town, with a population of around 65,000, some 70km to the northeast. Graphite was first discovered in the area in 1870 and production started in 1917. Skaland Graphite AS formerly extracted graphite ore from the Skaland mine which is located directly alongside the existing processing and port infrastructure, but since 2007, ore to the plant has been sourced from the nearby Trælen Mine. MRC took operational control of the Skaland Graphite Operation in October 2019 and, as part of the acquisition, MRC secured permitting tenure for a further 10 years. The operation is owned by Skaland Graphite AS, in which the Company holds a 90% interest. Skaland is the largest flake graphite producer in Europe and the fourth-largest producer globally outside of China. Skaland is presently one of the world's highest-grade operating flake graphite mines with mill feed grade averaging around 28% C. Skaland accounts for around 2% of global annual natural flake graphite production. After completing the acquisition of Skaland, the Company has moved quickly to undertake a re-evaluation of the mineral resources in the Trælen Graphite Mine by re-logging, re- sampling and re-assaying of drilling core, to build a 3D block model of the deposit. No previous JORC resource estimation had been undertaken for the Skaland or Trælen deposits. A maiden JORC Code (2012) compliant resource of 1.78 million tonnes at 22% TGC, using a 10% cut-off, in the categories of Indicated and Inferred containing 397kt of graphite was reported in March 2020 for the Trælen deposit. The Trælen mine delivered 19kt of ore to the processing plant in 2020, which was deducted from the total resource. The company commenced a 3,000m drilling program in March 2021 to upgrade the current resource and subsequently delivered an Ore Reserve estimate after the drilling program, which is expected to be completed in August 2021. MRC's anode strategy aims to produce natural anode material using low-cost renewable energy and an environmentally friendly purifying technology to capitalise on the fast-growing demand for sustainably manufactured lithium-ion batteries throughout Europe.
Production at Skaland will ramp up from 10,000 tonnes per annum in 2020-2022 towards the 16,000 tonnes per annum limit in 20232, with studies to further expand production underway. Down-dip development: A mining contractor has been engaged for down-dip development at Trælen to access
additional known resources at Trælen beneath the already mined out up-dip resources of the deposit, following an initial Life of Mine ("LOM") based on the 2020 Mineral Resource Statement, targeting resources between levels +5m to -115m. The deposit is open at depth beyond the planned development levels and there are also several promising side lenses that require further drilling. Exploration and infill drilling has commenced to support an updated Mineral Resources Estimate and the first JORC compliant Ore Reserve Statement for Traelen. Down-dip development waste will be backfilled into the current mining void which will allow safe access to further up-dip resources and eliminate mine waste disposal outside the Trælen
mountain. The mining concept is essentially a mirror of the current up-dip mining, changing from bottom-up to top-down progress. The level height will be 20m with ore extraction from the bottom of each level. Skaland Graphite AS has been producing around 10kt of graphite concentrate per annum
but under the operation's current production permits, this can be increased to produce up to 16,000 tonnes per annum. Executive Departure • Mar 26
Chief Executive Officer Mark Caruso has left the company On the 25th of March, Mark Caruso's tenure as Chief Executive Officer of the company ended after 6.5 years in the role. As of December 2020, Mark personally held 2.04m shares (AU$756k worth at the time). A total of 2 executives have left over the last 12 months. Under Mark's leadership, the company delivered a total shareholder return of 338%. Announcement • Feb 28
Mineral Commodities Ltd Reports Annual Mineral Resource and Ore Reserve Estimates as of 31 December 2020 as Well as Material Exploration Results for the Fiscal Year 2020 Mineral Commodities Ltd. reported its annual Mineral Resource and Ore Reserve estimates as of 31 December 2020 as well as material Exploration Results for the fiscal year 2020. In addition, this statement includes an update of Mineral Resource estimates at the Tormin and Northern Beaches. As at 31 December 2020, Group Mineral Resources includes: 456 million tonnes at 6.8% THM including 31.2 million tonnes of in situ heavy mineral across its Tormin Mineral Sands Operation and Xolobeni Mineral Sands Project. 9.75 million tonnes at 14% TGC and contained 1.36 million tonnes of graphite across its Munglinup Graphite Project and Skaland Graphite Operation. This represents an increase of approximately 108 million tonnes of heavy mineral ore and a decrease of 0.02 million tonnes of graphite ore compared with the estimate at the same time last year. Mineral Resources are reported inclusive of Ore Reserves. As at 31 December 2020, Group Ore Reserves of graphite is estimated to contain 4.24 million tonnes of 12.8% TGC. This represents no change compared with the estimate as at 31 December 2019. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS US$0.032 (vs US$0.019 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$63.5m (up 2.9% from FY 2019). Net income: US$14.2m (up 81% from FY 2019). Profit margin: 22% (up from 13% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 20
Mineral Commodities Ltd Secures Two Additional Graphite Prospects Near Skaland Mineral Commodities Ltd. through its 90% owned subsidiary, Skaland Graphite AS announce it has entered into a landowner agreement to explore the Hesten and Vardfjellet graphite prospects, located on the island of Senja, Norway. The prospects are situated about 4km west of the Bukken exploration prospect, for which Skaland was granted exploration rights in mid 2020, and are approximately 15km southeast of MRC's existing Skaland Graphite Mining Operation. Skaland is the highest grade flake graphite operation in the world and largest producing graphite mine in Europe. The agreements provide MRC with exclusive exploration rights for up to six years over an area of 6.9km2. The graphite mineralisation is hosted by early proterozoic schists and gneisses of the Western Troms Basement Complex. Graphite mineralisation occurs as strongly folded bands of
enriched graphitic schist/gneiss within a host of non-graphitic schist/gneiss. The Hesten and Vardfjellet prospects are located along a NW-SE structure 2.5km apart. The graphite schist on the surface consists of several apparently isolated lenses that are isoclinally folded and refolded. The geology and mineralogy of the graphite bearing rock is similar to that observed at the Skaland Graphite Operation. The graphite mineralisation has been mapped over 1600m x 150m with several graphite zones in Hesten. Outcrops are better exposed at Vardfjellet, with graphitic schist found outcropping over an area of 1700m x 350m. Geophysical measurements indicate the individual lenses to be electrically connected, restricting the possibility to map the individual size of the graphite lenses. Due to this high electrical conductivity, drilling is necessary to better understand the geometry, grades and
tonnage of any mineralisation. Surface mapping has indicated a few individual graphite lenses that can be followed outcropping continuously for up to 100 metres. The Company intends to commence an exploration program in the June quarter 2021, comprising further ground-based geological mapping and sampling to determine higher grade locations to target drilling. The individual graphite structures appear to be thicker at depth than indicated at the surface based on ground electromagnetic data. Is New 90 Day High Low • Jan 07
New 90-day high: AU$0.40 The company is up 21% from its price of AU$0.33 on 09 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: AU$0.39 The company is up 47% from its price of AU$0.27 on 03 September 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 12% over the same period. Announcement • Dec 02
Mineral Commodities Ltd Announces Resignation of Joseph Caruso as Non-Executive Director Mineral Commodities Ltd. announced that Mr. Joseph Caruso has resigned as a non-executive director of the Company. Recent Insider Transactions • Nov 06
Independent Non-Executive Chairman recently bought AU$81k worth of stock On the 5th of November, David Baker bought around 250k shares on-market at roughly AU$0.32 per share. This was the largest purchase by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Announcement • Nov 02
Mineral Commodities Ltd Appoints Christoph Frey as Chief Operating Officer of Graphite and Anode Materials (Europe) Mineral Commodities Ltd. announced that Christoph Frey has been appointed Chief Operating Officer of Graphite and Anode Materials (Europe). Frey was previously engaged at Magnezit Group Europe GmbH (Germany) where he served as Project Manager at Dalgraphite Limited in Russia. From 2007 to 2009, Frey was the General Manager of Qingdao Kropfmuehl Graphite Limited. Frey then served as Technical Director at AMG/Graphit Kropfmuehl AG from 2009 to 2013. Announcement • Oct 02
Mineral Commodities Ltd Appoints David Baker as Independent Non-Executive Chairman Mineral Commodities Ltd. announced that Mr. David Baker, an existing director of the Company, has been appointed to the position of Independent Non-Executive Chairman. Announcement • Sep 23
Mineral Commodities Completes Pre-Feasibility Study for Active Anode Material Plant in Norway Mineral Commodities Ltd. completed pre-feasibility study for active anode material plant in Norway. Highlights: MRC's anode strategy targets production of low CO2 emission, environmentally friendly, active anode material without using highly toxic hydrofluoric acid ("HF"). Two highly compelling economic study outcomes; integrated post-tax pre-finance: Caustic Process NPV7 USD 1.0 billion, IRR 67%; Carbochlorination Process NPV7 USD 1.07 billion, IRR 58%; Manufactured at a dedicated Active Anode Materials Plant ("AAMP") in Norway, using low cost, renewable energy in the fastest growing battery manufacturing region globally. The AAMP will: initially be built to produce up to 10,000tpa of active anode material, supplied with high quality graphite concentrate from MRC's Skaland operations in the Northern part of Norway. be expanded (in 20,000 tonne modules) to process graphite concentrate from MRC's Munglinup operations in Australia. Pre-Feasibility Study ("PFS") investigates the optimal approach to producing active anode material for batteries in EVs and stationary uses, investigating two alternative environmentally friendly methods of purification a caustic roast process and a carbochlorination process - that do not use HF. The study adopted an integrated approach incorporating the following key components: Skaland Life of Mine ("LOM") Plan, Munglinup Graphite Project ("MGP") Definitive Feasibility Study (DFS), and AAMP metallurgy, process engineering design and cost estimation. Staged, risk-management based approach taken with the first module of the AAMP, with technology de-risking decision points before expansion. Commencement of first production - single train (2GWh) planned for mid-2022 with initial production from full module in the September quarter 2023. Announcement • Jun 30
Mineral Commodities Ltd announced that it expects to receive AUD 6.58 million in funding Mineral Commodities Ltd (ASX:MRC) announced a private placement of 32,900,000 common shares at a price of AUD 0.20 per share for gross proceeds of AUD 6,580,000 on June 30, 2020. The transaction will include participation from sophisticated and professional investors. The transaction is expected to close by July 1, 2020.