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Cobalt spot prices were lower for the month, LME inventory was lower for the month. Cobalt market news - BMI anticipates that cobalt prices will fall in early 2023 given surplus forecasts. Project Blue forecasts cobalt prices should strengthen as the year goes on.
Cobalt spot prices were higher for the month and LME cobalt inventory was slightly lower. Cobalt market news - Strong growth for cobalt, but some headwinds too. Cobalt slight supply deficit this year and will remain in one next year.
Platina Resources Ltd made considerable progress during FY2021 and is well-funded to continue building a strong Australian gold portfolio. The company had an early win in June 2020 when it acquired a 100% interest in the Challa Gold Project between the prolific Mt Magnet and Sandstone gold districts in Western Australia.
Cobalt spot prices were slightly higher for the month and LME cobalt inventory was about the same. Cobalt market news - Canaccord forecasts a cobalt deficit as early as 2024, forecasts prices rising beyond the previous peak of US$42.52/lb and sets long-term pricing at US$40/lb.
Platina Resources Ltd (ASX: PGM) plans to undertake induced polarisation (IP) and electromagnetic (EM) programs with the intention of defining drill targets at its 100%-owned Xanadu Gold Project in Western Australia's Ashburton province. This survey work is in the final stages of planning and Platina anticipates it will start in the next three to four weeks.
Platina Resources Limited's diversified exploration investments portfolio is now valued at A$19.5 million and offers exploration upside through upcoming drill programs. As well as making progress with its own early-stage metal projects through exploration, feasibility, permitting and into development, Platina also has a range of strategic investments in other resources companies.
Platina Resources Ltd (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) and JV partner Artemis Resources Ltd (ASX:ARV) have increased confidence in the value of the Munni Munni Project in Western Australia after returning strong palladium grades in recent drilling. Reverse circulation (RC) drilling of 15 drill holes for 2,740 metres was carried out in April and May, with drill holes spread through the entire upper portion of the mineralisation to a maximum depth of 250 metres.
Platina Resources Ltd (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) has completed the acquisition of a 100% interest in the Xanadu Gold Project in Western Australia and allotted 12,735,849 ordinary fully paid shares as consideration. The Xanadu Project is in the Ashburton Basin, 38 kilometres southeast of Paraburdoo and 95 kilometres south of Tom Price.
Platina Resources Ltd (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) is moving towards the exploration phase at Xanadu Gold Project after executing binding purchase agreements and commencement of tenement transfers. This exploration strategy will initially comprise low-cost geophysics and geochemistry aimed at increasing geological knowledge.
Platina Resources Ltd's (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) campaign to unlock the value in its wholly-owned Platina Scandium Project (PSP) is gathering pace after a new market assessment by global commodity research company CM Group showed an improving worldwide scandium market. CM Group's 2021 Independent Scandium Market Report highlighted increasing opportunities in the scandium market, which offers the potential to be significantly larger and more diverse if scandium oxide can be converted into value-added, higher-margin and more readily saleable products like master alloy.
Cobalt spot prices were lower for the month and LME cobalt inventory was about the same. EV supply chain majors pilot Re|Source, a blockchain solution for end-to-end cobalt traceability. Cobalt market news - S&P GMI forecasts the cobalt market to move into deficit from 2024. Analysts at RBC expect cobalt prices to reach $28.50/lb this year and $40/lb in 2024.
Platina Resources Ltd (ASX:PGM) welcomes the start of drilling at the Munni Munni Joint Venture Project near Karratha in Western Australia, which is host to one of Australia's largest undeveloped palladium deposits with endowments of platinum, gold and rhodium. Platina has a 30% interest in the project while partner Artemis Resources Limited (ASX:ARV) has the remaining 70% and is the operator.
Cobalt spot prices were slightly lower for the month and LME cobalt inventory was slightly lower. Cobalt market news - President Biden's $2.25 trillion infrastructure package proposes a $174 billion investment "to win the EV market".
Platina Resources Ltd (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) will expand its gold presence in Western Australia after signing a conditional term sheet to acquire the Xanadu Gold Project in a favourable regional scale structural setting in Ashburton province. Xanadu is within proximity to the multi-million ounce Mt Olympus gold deposit explored by Kalamazoo Resources (ASX:KZR), which is just 7 kilometres to the east.
Platina Resources Ltd (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) has entered a trading halt ahead of finalising a new mineral project acquisition. The halt will remain in place until Tuesday April 13 or when an announcement is made to market, whichever occurs earliest.
Platina Resources Ltd (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) has entered a trading halt regarding the finalisation of a new mineral project acquisition. The halt will remain in place until Tuesday April 13 or when an announcement is made to market, whichever occurs earliest.
Platina Resources Limited's (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) strategy to build its gold presence in Western Australia has been boosted on receiving approximately A$2.64 million from the sale of 6 million shares in Canadian-listed Major Precious Metals Corp (CSE:SIZE) (OTCMKTS:SIZYF) (FRA:3EZ). Major's flagship Skaergaard Project hosts one of the world's largest undeveloped gold deposits and one of the largest palladium resources outside South Africa and Russia.