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Nowea Energy Inc.: Update Mining Project
Re-evaluation of the project, Year 2021 Chances
Success - so it is said - is among other things the result of right decisions!
The management is very pleased to announce, in addition to the announcement of October 05, 2020, that the decision to invest in the Lithium & Boron Mine Project was a right decision because the project itself is turning out extremely successful and far beyond the planned targets. The results of the exploration drilling program point to a much larger resource deposit then first expected. As it looks like there is a discovery with a possible mineralization of 750 million tons.
What does this mean? Open pit mine!
On the basis of these new findings a completely new evaluation should arise. According to our expectations, this will be far above the former values advised by PwC to date, and, as it is now becoming clearer and clearer, the mining can take place in open-pit mining. This means that the mining costs can be up to 75% lower compared to underground mining.
Final assays expected in January 2021 / Re-evaluation of project will follow
All drill samples collected to date will be handed over by the end of 2o2o to the analytical company SGS (https://www.sgsgroup.de/de-de/mining), who will carry out the chemical analyses and determinations. Assay results are expected in mid/late January 2021 and will then be forwarded directly to CSA Global (https://www.csagroup.org/) for the preparation of an updated project evaluation report.
Year 2021 Chances
The analyses available to date suggest a lithium/boron mine. In addition to lithium - which is experiencing an extreme surge in demand due to the rapidly advancing developments in the global e-mobility and automotive industries - boron is expected in significant quantities. Boron compounds have a wide range of applications in various industries, such as detergents, glass and ceramics, semiconductors, pesticides and fertilizers, armor, abrasives, cosmetics, and many more (see e.g. https://en.wikipedia.org/wiki/Boron). Crucial for the design and layout of the future business model and mine operations will be the results and evaluations based on the new report mentioned above. However, already at this stage it is foreseeable that this could be one of the largest mining projects ever located in this form of mineralization with strategic importance for the industrial resource requirements in Central Europe.
As soon as concrete and reliable information is available, we will inform you immediately.
Until then we wish you a harmonious holiday season, a happy new year and of course most importantly - stay healthy!
Investor Relations / December 18, 2020
About NOWEA ENERGY:
NOWEA ENERGY is an investment and private equity company with a strong focus on emerging, innovative companies. In particular we offer capital and expertise combined with a wide range of services to growth companies in the energy sector. Innovative companies from various future-oriented industries, such as mobility, e-mobility, energy, mining (strategic raw materials) as well as smart home and industry 4.0, are the focus of our investment.
If necessary, further information can be obtained on the Internet at https://noweaenergy.com/
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