THE BOURSE WHISPERER: Impact Minerals (ASX: IPT) has received applications for $1,073,970 through a Share Purchase Plan (SPP) to existing Shareholders and the offer of the shortfall to the SPP.

“We are very pleased with the outcome of the SPP given the difficult market conditions of the past few months and we thank all of our shareholders who participated for their support,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“We can now move on with the drill program at our Commonwealth project where we have identified a significant number of targets to test for further high-grade gold and silver mineralisation.”

Impact Minerals indicated the funds raised by the SPP and Shortfall Offer will be used to fund a drill program of up to 3,000 metres of reverse circulation and diamond drilling to test targets on the Silica Hill prospect at the company’s 100 per cent-owned Commonwealth gold-silver-base metal project, for follow up work at the high grade Broken Hill copper-nickel-PGM project and for general working capital.

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au

THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) advised the market of a notice of appeal that has been lodged by the Mount Jowlaenga Polygon #2 claimant group with the Federal Court of Australia.

Sheffield Resources said the notice of appeal was in relation to the recent good faith decision taken by the National Native Title Tribunal (NNTT), which found in favour of the company.

Sheffield explained that the positive good faith finding on 22 May 2017 was precedent to the substantive Native Title determination by the NNTT announced on 15 June 2017.

“An initial appeal hearing is scheduled for 28 July 2017,” Sheffield Resources said in its ASX announcement.

“Sheffield has sought legal advice and does not expect this appeal process to impact upon the development timeline of the Thunderbird mineral sands project.

“Sheffield shall continue to advise shareholders of further developments as they arise.”

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) announced a decision from the National Native Title Tribunal has determined that Mining Lease 04/459 can be granted.

Sheffield Resources explained that Mining Lease 04/459 is the lease upon which the company’s Thunderbird mineral sands project is located.

The company anticipates the Western Australia Department of Mines and Petroleum (DMP) will now be able to finalise the grant of this mining lease in accordance with its standard procedures.

Sheffield said it expects to provide a further update upon completion of DMP procedures expected in mid-July 2017.

“Sheffield welcomes this announcement as it seeks to advance development of Thunderbird,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“The company remains committed to delivering meaningful social and economic benefits from Thunderbird to Traditional Owners and the wider Kimberley community.

“The company is aiming to finalise offtake arrangements and advance funding arrangements following the substantial support received to date.

“Sheffield shall provide shareholders with further developments in the near future.”

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

THE BOURSE WHISPERER: Australian Potash (ASX: APC) announced the signing of a non-binding Memorandum of Understanding (MoU) for the supply of sulphate of potash (SOP) to one of China’s largest fertiliser companies.

Australian Potash has struck the deal with a subsidiary of CNAMPGC Holding Limited Corporation, namely Sino-Agri Holding Company Limited (Sino-Agri).

The company said the MoU envisages high level commercial terms for sales volumes of up to 30 per cent of estimated production, being up to 100,000 tonnes per annum of SOP from Stage 2 of the company’s Lake Wells project in Western Australia.

APC sees the MoU as a strong foundation as the company seeks to develop strong relationships with key players in the world’s largest fertiliser market.

Australian Potash’s stated marketing strategy is focused on identifying potential customers in key markets, building relationships to ensure potential customers are engaged and the Lake Wells product specifications and volumes are tailored to market requirements.

Although the MoU is non-binding and as such presents no guarantee of a binding agreement on the proposed terms or at all, APC considers its ability to secure sales volumes into larger regional markets as an key component to its marketing strategy, while also aiming to secure market share of prevailing SOP volumes in the Australian market.

The company anticipates, an opportunity to expand the Australian market may exist in time through driving increased awareness of the scientific and commercial value of the SOP product.

For now, however, APC will focus on strengthening its relationship with Sino-Agri in parallel with the project advancement at Lake Wells as the Lake Wells study is progressed and the technical parameters are de-risked.

APC will maintain a constructive dialogue with Sino-Agri, facilitate product trials, optimise product specifications and ultimately seek to progress to a binding commercial agreement.

Sino-Agri is one of China’s largest fertiliser corporations with 60 years of operating history as both a domestic producer, trader and distributor of a range of domestic and imported fertiliser products.

“We have been developing our relationships within the Chinese potash and fertiliser industries for some time and it is very gratifying to commence the formal pathway to securing customers in the world’s largest fertiliser market,” Australian Potash executive chairman Matt Shackleton said in the company’s announcement to the Australian Securities Exchange.

“I look forward to continuing to develop our relationship as our project develops, and to working towards formal off-take agreements.”

Australian Potash has a great deal of activity planned for Lake wells, including the commissioning of pilot evaporation ponds, commencement of Stage 2 test-pumping program, installation of Stage 2 test-production bores, continuing Resource upgrade and expansion program, and a feasibility study.

Website: www.australianpotash.com.au

THE BOURSE WHISPERER: Australian Potash (ASX: APC) released results of laboratory based test-work carried out on the company’s 100 per cent-owned Lake Wells potash project in Western Australia.

Australian Potash claimed the results have confirmed the conversion process of muriate of potash to sulphate of potash to be utilised at Lake Wells.

The company went on to say that the test-work had also confirmed the ability of the project to increase its sulphate of potash (SOP) output by 50,000 tonnes per annum to 150,000 tonnes per annum in stage 1, and by 100,000 tonnes per annum to 300,000 tonnes per annum in stage 2.

APC explained this would be achieved by utilising a similar non-Mannheim conversion process to that currently used at the largest brine SOP operation outside of China (Compass Minerals, US).

APC’s Canadian based SOP engineering consultants Novopro, led the test-work program as well as the plant design and process engineering for APC’s study programs.

“The Lake Wells SOP project has very high levels of sulphate, which itself is a valuable fertiliser component,” Australian Potash executive chairman Matt Shackleton said in the company’s announcement to the Australian Securities Exchange.

“Sulphate provides a natural, high-quality source of sulphur, often referred to as the fourth ‘macro-nutrient’

APC explained the difference the conversion process it intends using compared to the Mannheim process.

APC said its conversion process will not create the additional reagent expense associated with purchasing sulphuric acid, as sulphate is already present in our brine.

The company considers the economic case for developing this conversion facility to be compelling considering the low marginal operating costs associated with producing an additional 50,000 to 100,000 tonnes of SOP from essentially the same plant.

“Our project team continue to de-risk the three essential components of a brine SOP operation, being brine extraction, brine evaporation and salt processing,” Shackleton said.

APC will soon commence its Stage 2 test-pumping program that will add to the plus-20 million litres of test-pumping already conducted

This test-pumping program will feed into the brine flow model for brine extraction, building on decades of understanding and operation of brine bore fields in WA.

“All approvals are in place and contractors appointed to commence the pilot evaporation pond development, aiming to confirm construction techniques and validate site evaporation data,” Shackleton continued.

“This program goes to the evaporation model, and will be enhanced in Q3 2017 with the Stage 2 evaporation pond program which includes the development of a second set of evaporation ponds at site.

“The test-work program being managed by Novopro, as discussed here, further de-risks the process design. SOP processing plants utilise well understood technology and engineering, and our consultants have experience designing and commissioning them at sites around the globe.

“This test-work program will continue to optimise the plant design and engineering component of our development over Q3 and Q4 2017.”

Website: www.australianpotash.com.au