Updated: Apr 13
✦ Robert Martin, Executive Chair of Suvo Strategic Minerals Limited (ASX: SUV), talks about positioning the company as a Tier 1 Industrial Minerals Miner.
The Nova silica sand project has 216Mt Inferred Mineral Resource comprising silica glass sand, silica flour and coarse silica sand from approximately 15% of their granted tenure. It will allow the development of various products for a wide range of both domestic and international markets.
Suvo is now taking the step to mining Silica Sands - the missing link in the company's strategy.
Interestingly enough, the company has had this asset since their IPO but they have not made a move on it till now.
Mr. Martin wants to build mines. Yes, you read that right. And that involves creating a Tier 1 Industrial Minerals Mining machine. He has built a profitable mining services company, so this is exciting news he is revealing.
Suvo's shareholders are going to benefit from their Silica story. Their natural silica flour is one that will add significant value to the company and give it that market value that is unique to the Nova Silica Project. There are clear signs that many are eager and interested in the Silica Project, as can be shown by the daily calls the company is receiving about it.
The industries and applications that this project will serve include:
Glass Making (Float, Containers, Architectural, Thin Film)
Metal Casting (Automobile Parts)
Oil / Gas Well Stimulation (Frac sand / proppant)
Paint and Coatings (Brightness and Durability)
Chemical Production (Silica Gels)
Construction Sand (Concrete)
Filtration (Water Production)
Recreational (Inert growing media, Golf Bunkers, Beaches)
Noel Ong, CEO of Samso often says that exploration is a marathon and you need both luck and science. What we need to bear in mind about the Nova Silica project is it is not like finding gold or nickel or copper. Silica is more like iron ore, coal, and clay.
What this means is, once you have discovered a presence, the chances of finding a resource is very high. This is the reason when companies resource coal, their drill spacing does not need to be close. Some of the spacing can be hundreds of metres apart. And you stand a good chance of a lucky strike.
This resource statement from Suvo shows an exciting next step in the company towards a final solution. When it comes to new and exciting developments in ASX stories, you can be sure Noel will be on it. We are eagerly awaiting more news here.
00:59 The Nova Silica Project Story
02:52 What does Nova mean for Suvo?
05:20 Why is Nova of interest?
07:55 Does Suvo really have more than the 15% stated?
10:37 Rising silica market demands
12:40 The importance