Monday 5th December 2016

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Posts tagged ‘chalky geyserite’

Electra Stone signs LOI to build and sell B.C. jade products in China

March 10th, 2016

by Greg Klein | March 10, 2016

Electra Stone TSXV:ELT moved closer to its goal of establishing a Chinese base for British Columbia nephrite jade products with a letter of intent announced March 10. The arrangement would have LYG Anlan Company Ltd, a Chinese jade and construction material manufacturer, design and build jade and other products for Electra. The output would be marketed through LYG’s network and new channels developed by Electra.

Electra Stone signs LOI to build and sell B.C. jade products in China

The agreement would also bring Kim Chen to Electra’s advisory board. Chen is a principal with J.L. Arts and Crafts, which makes over 150,000 products a year, mostly from B.C. jade. He started his first carving and manufacturing company in the 1960s and later mined B.C. jade and semi-precious carving stones under his own company, Kim Mining.

“We are privileged and excited to have Mr. Chen as part of the Electra Stone team,” said Tony Hu, VP of investor relations and marketing. “With over 50 years of knowledge and experience, Mr. Chen provides critical expertise and insight into the global jade and other semi-finished products market, an essential component of Electra’s successful development in China moving forward.”

Electra holds six jade prospects totalling 5,850 hectares in northern B.C. Four of them underwent an initial prospecting program last autumn that confirmed nephrite jade on two properties.

As part of its plan to develop a vertically integrated operation, the company has bought and shipped 36 tonnes of B.C. jade to China, making its first sale of 1.8 tonnes in November. In January Electra announced a contract to buy another 250 tonnes of jade.

In addition the company quarries chalky geyserite, also known as alumina silica, from its PEM100 operation on Vancouver Island and sells it to a cement manufacturer. Last year’s production and sales came to 65,540 tonnes, a 13% year-over-year increase. In February Electra announced a drill program to determine the potential for a new high-grade silica product.

In January the company closed a $501,060 private placement.

Read more about Electra Stone.

See infographics: The History of Jade, the Emperor’s Stone and The Rush for Jade in British Columbia.

Electra Stone to drill Vancouver Island industrial minerals project

February 16th, 2016

by Greg Klein | February 16, 2016

A British Columbia industrial minerals operation with a regional market will complete an expanded drill program in the coming weeks, Electra Stone TSXV:ELT announced February 16. The company plans 15 percussion drill holes ranging from 14 to 40 metres on its PEM100 quarry near Apple Bay on Vancouver Island. The operation produces chalky geyserite, also known as alumina silica, for cement manufacturing. With the new program, Electra intends to update the mine plan and explore the potential for producing a new high-grade silica product, the company stated.

Electra Stone to drill Vancouver Island industrial minerals project

An expanded drill program might find additional potential
for Electra Stone’s industrial minerals operation.

“Although high-grade silica is already mined in the quarry to blend with higher-grade alumina silica, Electra Stone has identified a potential market opportunity for a stand-alone high-grade silica product,” said president/CEO John Costigan. “This program may allow us to expand the annual output of the PEM100 quarry and increase the company’s revenue. Regional consumption of alumina silica and high-grade silica is estimated to be greater than 500,000 tonnes per annum. Management continues to improve operational efficiencies at the PEM100 quarry.”

Last year’s production and sales came to 65,540 tonnes of chalky geyserite, a 13% year-over-year increase.

On another front, Electra has been building a vertically integrated operation to supply Asian customers with nephrite jade from B.C. The company has so far bought and shipped 36 tonnes of B.C. jade to the People’s Republic of China. Electra reported its first sale of 1.8 tonnes in November. Last month the company announced a contract to buy another 250 tonnes of nephrite jade.

Nephrite jade is used for building and ornamental purposes, while jadeite is more commonly used for jewelry.

Electra also holds six jade prospects in northern B.C. totalling 5,850 hectares. Four of them underwent an initial prospecting program last autumn, confirming nephrite on two properties.

Last month the company closed a $501,000 private placement.

Read more about Electra Stone.

See infographics: The History of Jade, the Emperor’s Stone and The Rush for Jade in British Columbia.

Electra Stone confirms nephrite jade on two B.C. properties

October 22nd, 2015

by Greg Klein | October 22, 2015

With its first jade prospecting program finished for the season, Electra Stone TSXV:ELT confirmed the presence of nephrite jade at two of its northern British Columbia projects on October 22. Four of the company’s six projects in a 5,850-hectare jade portfolio underwent exploration. Confirmation was made at Electra’s Greenrock Creek placer property, six kilometres from the Polar Jade operation, and at Electra’s Rustic property, eight kilometres from the Cassiar jade operation.

Electra Stone confirms nephrite jade on two B.C. properties

The initial prospecting program marks an early step towards
Electra’s goal of developing a vertically integrated operation
of jade mining, trading and marketing.

“The completion of this program is a positive first step towards Electra’s plans of developing a vertically integrated B.C. jade mining, trading and marketing platform,” said CEO John Costigan. “The information provided will help prepare us for the next exploration season. We will continue to build out our exploration assets and knowledge thereof, while we expand our trading with additional shipments of B.C. nephrite jade for sale to markets in China.”

The company’s first shipment left for Shanghai last month, with 18 tonnes bought from another B.C. operation to establish contacts with Chinese buyers. B.C. supplies about 75% of the world’s nephrite jade, most of which is bought in China.

Electra also produces chalky geyserite, or aluminum silica, from its Apple Bay quarry on Vancouver Island. Last summer Electra and a U.S. cement manufacturer began a co-operative drill program to consider expanding the operation.

Read more about Electra Stone.

See infographics: The History of Jade, the Emperor’s Stone and The Rush for Jade in British Columbia.

Electra Stone’s first jade shipment en route to China

September 23rd, 2015

by Greg Klein | September 23, 2015

An initial 18-tonne cargo of jade left the southern British Columbia port of Tsawwassen for Shanghai, Electra Stone TSXV:ELT confirmed on September 23. On arrival, a ceremony will connect company management with buyers including jade carvers, manufacturers and resellers, as part of Electra’s strategy of building a vertically integrated jade mining and trading platform linking B.C. supply with Chinese markets.

Electra Stone’s first jade shipment en route to China

“Shanghai is the first of many important regional markets for Electra,” said president/CEO John Costigan. “The similar geological environment in B.C. provides the conditions to produce the same nephrite jade in B.C. as the jade that has been sought after by the people of China for thousands of years.”

Nephrite is the type of jade originally used in China. As domestic supply ran out, the country began importing the more costly jadeite. More recently, decreasing supplies of jadeite have re-awakened interest in nephrite jade. Depending on its quality, it can be used for jewelry and carvings or for building materials.

Although Electra purchased and shipped the jade cargo to test Chinese markets, the company holds six jade properties totalling about 5,000 hectares in northern B.C., a province that supplies about 75% of the world’s nephrite jade. Company appointments, meanwhile, have added people with jade expertise to Electra’s board and staff.

The company also produces chalky geyserite, or aluminum silica, from its Apple Bay quarry on Vancouver Island. Earlier this month Electra joined a U.S. cement manufacturer in a co-operative drill program to assess expansion of the operation.

Read more about Electra Stone.

See an infographic: The History of Jade, the Emperor’s Stone.

Electra Stone, Ash Grove Cement seek aluminum silica expansion in B.C.

September 1st, 2015

by Greg Klein | September 1, 2015

In a co-operative drill program that began August 31, a miner and its customer hope to expand a British Columbia deposit of chalky geyserite, or aluminum silica. Electra Stone TSXV:ELT and Ash Grove Cement plan 24 holes of percussion drilling totalling around 700 metres over a five-day period on Electra’s Apple Bay quarry on northern Vancouver Island.

The crew will take samples every three metres to gather around 180 samples for analysis. Technical staff from both companies will take part.

Electra has provided Ash Grove, the United States’ sixth-largest cement manufacturer, with a continuous supply of aluminum silica since 2003. The product is used in cement as a binder and makes up about 20% of cement mix by weight. Electra anticipates this year’s aluminum silica sales to reach about 100,000 tonnes, a year-on-year increase of 60%.

After closing an oversubscribed private placement of $997,344 in late June, Electra began exploration on its northern B.C. nephrite jade properties. Work began on the company’s Polar placer jade project, about a kilometre from the Polar Jade mine, one of Canada’s most important jade operations.

Last week Electra shareholders approved a $2-million private placement from a single individual, which would create a new control person. The placement remains subject to final agreements and TSXV approval.

Read more about Electra Stone.

Updated: Electra Stone appointments bolster jade explorer’s expertise

July 15th, 2015

by Greg Klein | Updated July 15, 2015

Two recent appointments complement the world’s first publicly traded jade exploration company, Electra Stone TSXV:ELT announced. Neil Froc joins the company as exploration and land acquisition manager while David Zhang becomes a director.

Froc has served as executive VP and officer of Hard Creek Nickel TSXV:HNC, where he oversaw technical and socio-economic development of the Turnagain nickel project in northern British Columbia.

Zhang holds a master’s degree in money and banking from Zhongnan University in China and has 20 years’ experience in China’s financial and banking sector. As manager of Metath Investment Company, he heads the fund’s Canadian operations.

Electra president John Costigan noted Froc’s experience developing projects in northern B.C. and Zhang’s background in North American and Asian markets.

The company began exploration on its B.C. nephrite jade properties late last month, with work initially focusing on the recently acquired Polar placer jade project, about a kilometre from the Polar Jade mine, one of Canada’s most important jade operations. Funding comes from an oversubscribed private placement of $997,344 that Electra closed June 29.

The company also mines chalky geyserite, or aluminum silica, from the Apple Bay quarry on Vancouver Island.

Read more about Electra Stone.

Electra Stone appoints Neil Froc exploration and land acquisition manager

July 14th, 2015

This story has been updated and moved here.

Electra Stone closes over-subscribed private placement, begins B.C. jade exploration

June 30th, 2015

by Greg Klein | Updated June 30, 2015

Electra Stone closes over-subscribed private placement for nearly $1 million

With an oversubscribed private placement that closed on $997,344 the previous afternoon, Electra Stone TSXV:ELT announced the beginning of exploration on its British Columbia nephrite jade projects on June 30. Work will initially focus on the company’s recently acquired Polar placer jade project, about a kilometre from the Polar Jade mine, one of Canada’s most important jade operations. The team will also explore Electra’s other northern B.C. claims.

This Phase I program follows an oversubscribed private placement that “demonstrates the strength of Electra’s offering in these difficult markets,” said president/CEO John Costigan. The world’s first publicly traded jade exploration company, Electra also mines chalky geyserite, or aluminum silica, from a quarry on Vancouver Island.

Read more about Electra Stone.

June 29th, 2015

This story has been updated and moved here.

Strategies for success

June 2nd, 2015

Four junior explorers discuss their pursuit of diverse commodities

by Greg Klein

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Four junior explorers discuss their pursuit of diverse commodities

Chris Berry moderates as reps from Commerce Resources, Electra Stone,
Lakeland Resources and Equitas Resources talk about their Canadian projects.

Why do some juniors thrive despite depressed capital markets? Obvious answers would include the right commodities, projects and management. But how that plays out on a company-by-company basis came through in a May 31 Canvest ’15 panel discussion bringing together four explorers pursuing widely diverse minerals.

The quartet comes under the umbrella of Zimtu Capital TSXV:ZC, a prospect generator with several core holdings among junior explorers. Lakeland Resources TSXV:LK holds one of the Athabasca Basin region’s largest portfolios of uranium prospects. Equitas Resources TSXV:EQT brings modern exploration techniques to a surprisingly under-explored Labrador land package southeast of Voisey’s Bay. Electra Stone TSXV:ELT has made aggressive moves into British Columbia jade properties while producing industrial minerals. Commerce Resources TSXV:CCE continues to advance its Ashram rare earths deposit in Quebec towards pre-feasibility while also holding a tantalum-niobium project in southern B.C.

Four junior explorers discuss their pursuit of diverse commodities

Panel moderator Chris Berry, president of House Mountain Partners and co-editor of the Disruptive Discoveries Journal, opened the discussion by asking about each company’s competitive advantage.

Commerce president Chris Grove noted that Ashram is one of a “very, very small” number of comparable projects that survived the rare earths bubble. Meanwhile rare earths demand for electric vehicles and magnets “has actually increased since the highs in 2010, 2011 and arguably will increase.”

He suggests investors consider a rare earths deposit for its distribution of magnet materials. “In that regard our project is not only hosted by the three minerals that are processed every day basically all around the world but it also has a great distribution of those magnet materials.”

Electra president John Costigan related his company’s entry into the $20-billion global jade industry. “B.C. accounts for 75% of the world’s nephrite jade … and that market is worth about $400 million.” Coming from an industrial minerals perspective, Electra sees neglected potential in the province’s B-grade jade, which Costigan says is literally left behind in the quest for higher-grade stuff used in jewelry and carving.

Among Lakeland’s advantages is its location. “We’re in the Athabasca Basin where the world’s highest grades are,” said manager of corporate communications Roger Leschuk. Uranium deposits outside the Basin average 0.1% to 0.15% U3O8, he added. Pointing to Basin grades like McArthur River’s 22% to 24% and Cigar Lake’s 18% to 22%, he said, “These mines are essentially hundreds of times richer, so the cost per pound of pulling it out of the ground is lower. Even in a low-rate environment, the Athabasca Basin’s the only place that makes sense.”

Location also helps explain the optimism of Equitas president Kyler Hardy. His company’s flagship Garland project sits 30 kilometres southeast of Vale’s (NYE:VALE) Voisey’s Bay on a land package undergoing modern exploration techniques for the first time. Canadian sulphide-type nickel deposits are “considered some of the best mines in the world simply because they’re not laterites,” Hardy said. “The environmental destruction that can occur when you mine laterite is massive because you’re basically strip-mining.”

And markets for Canadian nickel are relatively close. While other countries might produce the metal for China, Canadian nickel goes mostly to the eastern U.S., Montreal and Europe.

Tough equity markets have failed to keep these four companies down. So Berry asked about their sustainability plans for the next 12 to 24 months.

Last year’s $11.1 million in financings testifies to Commerce’s stability, Grove replied. The money supported a 31-hole drill program and Phase I mini-pilot plant tests, with the second phase set to begin within weeks. “Sustainability in this industry goes back to the actual rocks,” he said. When a company finds the metals it’s looking for and understands the market for those metals, “then arguably you have both sides covered.”

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