Road to Value — FinnAust Mining in Greenland is…
Advancing toward mining titanium rich, ilmenite mineral sands at Pituffik.
*Valuation: We value the project at an IRR of 43% and a $144m NPV on an 8% discount rate….
Pituffik Titanium Project Pituffik is an advanced stage titanium project. It has been the subject of multi decade technical studies and can be demonstrated to sit comfortably within the top percentile of projects globally with respect heavy mineral grade. The 2016 work programmes were designed specifically to determine the volume characteristic, the potential for Pituffik […]
Outokumpu Copper Project The Outokumpu project is located in eastern Finland. The licence holdings cover the majority of the north-south trending Outokumpu Copper Belt. These large-scale geological formations have produced several of the great high-grade copper mines of the world. Outokumpu the jewel of the Finnish assets has 6 targets that are drill ready that […]
Disko Magmatic Cu, Ni & PGE project in West Greenland Read More : DISKO NI-CU-PGM MAGMATIC MASSIVE SULPHIDE The magmatic Cu, Ni & PGE project at Disko & Nuussuaq in West Greenland has been the subject of more than three decades of exploration with Cominco in the 1980s, Falconbridge in the 1990s and Vismand Exploration […]
In Greenland, the Company is exploring the Pituffik Ilmenite Project, which includes a very large and unusually pure titanium occurrence. Work to date indicates potential for Pituffik to be in the top percentile of mining projects worldwide in terms of heavy mineral grade, and this has been independently verified.
FinnAust’s strategy is focused on the production of a bulk sample “proof of concept” from the Pituffik Project with the aim of ultimately generating cash flow to create a company capable of self-funding exploration on future acquisitions.
The Company recently announced the acquisition of Avannaa Exploration, a Greenlandic exploration company that owns two polymetallic drill ready targets. The Disko Magmatic Massive Sulphide (‘MMS’) nickel-copper-platinum project and Kangerluarsuk, a lead-zinc-silver project in Greenland, appear to have high-tonnage and high-grade base metal potential. These are rare geological characteristics not often seen in the minerals space. These multi-metal projects have been of interest for some time with major mining houses such as Falconbridge, Vismand & Capricorn Energy (a subsidiary of Cairn Energy PLC) having spent more than US$75 million on these projects over multiple campaigns spanning more than three decades.
The company is now ideally placed with a portfolio of 100% owned or options to acquire 100% on three globally significant exploration assets in addition to the production potential Pituffik.
The Company will review various opportunities that come to its attention to continue to deliver on its stated objective of acquiring high quality assets to expand and complement the its existing portfolio.
Greg Kuenzel – Non-Executive Director
A sustainable titanium production with a resource that renews itself seasonally – Independently verified as having potential to be the top percentile titanium project globally in terms of grade and tonnes.
Proof of concept dovetailing into ramp up, followed by full scale production. Close to infrastructure; deep-water port, international airport.
Roderick McIllree – Managing Director
When we look into the future we see something special in the world of titanium
A sustainable titanium production with a resource that renews itself seasonally – Pituffik is in the top percentile of projects worldwide in terms of heavy mineral grade; it is a pure ilmenite project and extremely high grade, with some samples up to 95% ilmenite.
The Project hosts a titanium occurrence, which displays characteristics suggestive of a top percentile project in terms of grade.
When we look into the future we see something special in the world of titanium.
Roderick McIllree – Managing Director
We continue to make big strides in advancing Pituffik, a project that continues to demonstrate significant potential.
With a proven in-house exploration and management team and a strengthened consultancy team we look forward to finalising our 2016 work programme, further detail of which will be provided in due course.