“The year ahead looks to be busy and productive as we continue to evaluate and uncover the potential of Ivittuut and create a path for its development,.
Eclipse Metals Ltd (ASX:EPM) has its sights set on securing a mining licence for its Ivittuut Project in Greenland in 2021, which has near-term cryolite, fluorite and rare earth production potential from processing tailings and low-grade stockpiles.
The company is confident the project has the potential for a large, highly profitable industrial mineral/REE operation in the mining-friendly jurisdiction.
In the next 6-12 months Eclipse is targeting a resource upgrade, the mining licence application, environmental assessment, pit water testing and dewatering design – and a pre-feasibility study in 2021/2022.
Ivittuut development opportunities
The mine process tailings and remnant stockpiles highlight the short-term cashflow potential of the existing Ivittuut pit – which was once the world’s largest and only cryolite mine, producing 3.8 million tonnes of cryolite during a 120-year mining history, ceasing in 1987.
FTSE 100 virtually flat, as UK borrowing jumps and retail survey disappoints
London’s blue-chip shares index struggles for direction after economic data
FTSE 100 barely changed
UK public finances scarred by pandemic costs
11.22am: Demand short-lived after shops re-open
Retail sales were below expectations in recent weeks, according to the the latest CBI Distributive Trades survey.
Volume of sales was +18 between the end of April and the middle of May, a period when retailers were open but the hospitality and leisure rules had not been fully relaxed.
This was down from +20 previously.
UK CBI Total Distributed Reported Sales May: 43 (prev 30) LiveSquawk (@LiveSquawk) May 25, 2021
S&P/ASX 200 lifts 0.65% as consumer confidence rises to 19-month high
Companies
S&P/ASX 200 lifts 0.65% as consumer confidence rises to 19-month high
Brent crude oil futures for July gained 2.9% to US$68.40 a barrel after a new deal to lift sanctions against Iran became less likely than it was last week. Mizuho’s Bob Yawger said, “The Iranians and western powers cannot get the details worked out that will get this deal signed and delivered.”
S&P/ASX 200 (INDEXASX:XJO) has lifted 0.65% to 7091.7 points by about 1 pm following a strong lead from Wall Street.
The mood is upbeat as the weekly ANZ-Roy Morgan consumer confidence rating rose by 1.5% to a 19-month high of 114.2 (long-run average since 1990 is 112.6).