11th Jul 2019 15:20
(Alliance News) - Alexander Mining PLC on Thursday said Accudo Metals Pty Ltd is working to use its licences for Alexander's AmmLeach leaching technology in multiple projects.
Shares in mining, minerals and metals processing technology firm Alexander Mining were up 14% at 0.04 pence in afternoon trade.
Accudo has a licence for up to five mining projects in Australia to use AmmLeach and is looking to deploy the licences on more than one project, having recently submitted bids to acquire or become lead partner in a number of projects.
In addition, Alexander has received around GBP30,000 worth of shares from Deep-South Resources Inc as part of a licensing agreement. Following an agreement dated June 2018, Deep-South has acquired a licence to use some of Alexander's technology in exchange for 500,000 shares and a 2.5% royalty on gross saleable metal production from the Kapili Tepe project in Turkey. The shares have now been issued.
Alexander is also conducting testwork on its HyperLeach technology, aimed at leaching about half of the contained nickel and cobalt to produce a mixed sulphide precipitate containing no copper, arsenic, or iron. The sulphide will be mixed with leach residue and sold for processing "as a low arsenic material". Analytical results on HyperLeach are due "in the next few weeks".
The company is also participating in a joint venture with its principal technological consultant with a view to creating a possible new process for hard rock heap extraction of lithium from zinnwaldite rocks.
Alexander has also paid or agreed a waiver of director fees, taking its fees owed down to nothing from GBP300,728 at the end of 2018.
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