METALLICA MINERALS LIMITED | ASX:MLM
QUARTERLY REPORT
MARCH 2023
Metallica Minerals Quarterly Report
ASX
RELEASE
31 March 2023
Quarterly Report
21 April 2023
Metallica Minerals is an Australian development company focussed on delivering high purity silica sand to a diversified global customer-base.
ASX: MLM
Metallica Minerals Limited (ASX: MLM) ("Metallica", "the Company") is pleased to present its activities report for the quarterly period ending 31 March 2023.
Directors
Theo Psaros Executive Chairman
Brad Sampson Non-Executive Director
Mark Bojanjac Non-Executive Director
Senior Management
Scott Waddell | CFO & Company Secretary |
Nicholas Villa | GM Cape Flattery Silica Sand Project |
Sam Fisher | GM Commercial |
CORPORATE
AS AT 31 MARCH 2023
Issued Capital
956,898,922 Ordinary Shares
179,630,557 Listed Options
21,700,000 Unlisted Options
Shareholders
1,472 shareholders
Top 20 shareholders hold 67%
Largest Shareholders
Ilwella Pty Ltd - 24.2%
Sibelco Asia Pacific Pty Ltd - 15.1% Sparta AG - 9.6%
Cash Balance
As at 31/3/2023, MLM's cash balance was approximately $9.6m
Website
metallicaminerals.com.au
Click here to view a short video presentation on our Cape Flattery Project.
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HIGHLIGHTS
1. | 2. | 3. | ||
Maiden Inferred | Progress on DFS for | Meetings held with | ||
Resource of 12Mt for | Silica Sand Project | various potential offtake | ||
CFS West Project | customers and investors | |||
(see page 7) | ||||
4. | 5. | |
Extraordinary General | $9.6 million in cash is | |
Meeting held with all | available at quarter end, | |
resolutions passed on | with no debt | |
a poll | ||
6.
CFS deemed a Controlled Action by the Federal Government
Metallica Minerals Quarterly Report
DEVELOPMENT & EXPLORATION CAPE FLATTERY SILICA SANDS
MLM
Interest
100%
The Cape Flattery Silica Project is adjacent to the | Environmental Studies |
world class Cape Flattery Silica Sand mining and | The Company, along with our external environmental |
shipping operation owned by Mitsubishi. | |
During the March 2023 quarter, the Company | consultants, have completed an array of |
environmental studies at the CFS project. These | |
continued to advance through numerous studies, | studies have included soil sampling, ecological |
approval processes and stakeholder engagement | studies and water monitoring. |
activities that are all key components of our project | The lodgement of the Environmental Application |
development for the Cape Flattery Silica Sand Project. | |
and Progressive Rehabilitation and Closure | |
Definitive Feasibility Study underway | Plan (PRCP) with Queensland Department of |
Environment and Science (DES) has been delayed | |
The Definitive Feasibility Study (DFS) is underway | while the Company waits to receive the Terms of |
Reference from the DCCEEW. | |
and remains on track for completion in 2023. | |
Key study areas progressed during the March | Traditional Landowner update |
Quarter include continued investigation of | |
transhipping operations, transhipping vessel | To date, six meetings have been held with the |
selection and location of key project infrastructure. | negotiation representatives of the clans who are the |
traditional landowners of the planned Mining Lease | |
Federal Environmental Approval process | Application (MLA) area. The Company has met with |
the Dingaal and Nguurruumungu representatives | |
During the December 2022 quarter the Company | and their respective legal advisors and the |
negotiations are continuing. | |
submitted a Referral under the Environment | |
Protection and Biodiversity Conservation Act 1999 | In January 2023, the Company presented the project |
(EPBC Act) for the Cape Flattery Silica Sand Project. | |
to the Board of Directors of Hopevale Congress | |
The Federal Department of Climate Change, Energy, | Aboriginal Corporation (Trustee Landowner). The |
meeting was the first formal presentation with | |
the Environment and Water (DCCEEW) assessed the | |
Hopevale Congress since the appointment of a new | |
Referral and 18 January 2023 determined that the | |
Board of Directors and legal representative. | |
CFS project is a Controlled Action under Section 75 | |
of the EPBC Act requiring assessment and approval | Importantly, the negotiations have been held in a |
under the EPBC Act prior to final approval. | |
professional and respectful manner with significant | |
On 20 February 2023, DCCEEW announced that the | information on the project being shared with the |
negotiating parties from each clan. Executive | |
assessment will be through an Environmental Impact | |
Chairman Theo Psaros met with representatives | |
Statement (EIS). | |
of the Dingaal and Nguurruumungu in April 2023. | |
A Terms of Reference document will be issued by | Negotiations are planned to resume in late June, |
DCCEEW and this will outline the additional studies | early July 2023. |
to be undertaken. To date significant environmental | |
studies have been undertaken which will be used | |
towards the requirements for the EIS. |
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Metallica Minerals Quarterly Report
EPM 25734 | |
LEGEND | |
Cape Flattery land mass | MLA |
Coral Sea | |
EPM - Metallica Minerals | |
Mine Lease Area | |
ML - Mitsubishi Corporation | |
Cape Flattery Port limit | |
Metallica Minerals - | Cape Flattery Port limit |
proposed export solution | |
Mitsubishi Corporation - | |
existing maritime infrastructure | |
Mitsubishi Corporation - existing | |
airport (private) | |
Roads | |
1 km |
Figure 1: Metallica Minerals' CFS EPM 25734 & MLA location adjacent to the Cape Flattery Port Limit and proximity of MLA area to the planned purpose-built jetty
Purpose-built Jetty Development Application
A Development Application (DA) to the Queensland Government is being finalised for approval for the construction of a purpose-built jetty for the CFS Project.
On 13 September 2022, the Company received a letter from Department of Resources (DoR) clarifying the approvals pathway for port operations associated with existing or future silica project proposals on Cape York. The letter advises that investigations have not identified an approvals pathway for port operations proposed outside
of existing port areas and are subject to the Sustainable Ports Act 2015.
The planned jetty is located within the Cape Flattery Port limit (see Figure 1). The Cape Flattery Port is already in operation, loading silica sand onto ships for export and is an area with existing approval for marine operations.
The Jetty Development Application process has required engagement with a number of Queensland Government departments as well as the Hopevale Aboriginal Shire Council and Cook Shire Council. The DA is expected to be lodged in Q3.
Potential Offtake partners
In August 2022, the Company announced it had signed a Memorandum of Understand (MoU) with Mitsui & Co., Limited who is one of the largest global trading and investment companies based in Japan.
In January 2023, the Company completed a site visit by helicopter with potential international customers. Kenneth McLean, Chairman of Walmbaar Aboriginal Corporation accompanied the group and was able to discuss the positive impacts the project will have on the local communities.
In February and March 2023, Executive Chairman Theo Psaros travelled to Tokyo, Kuala Lumpur and London to progress discussions with potential investors and off-take partners. Further visits are planned with potential investors and off-take partners in Q2 2023.
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Metallica Minerals Limited published this content on 21 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2023 00:09:03 UTC.