Jervois Mining Limited was originally formed in 1963 to mine and produce copper from the Jervois Ranges in the Northern Territory. For the next 14 years the Company was successful with mining and petroleum interests. Since 1987 the Company has acquired a suite of mineral leases, with tenements around Australia. These leases range from good to excellent in terms of economic potential.
Jervois has been listed on the Australian Stock Exchange for 48 years. It was first listed on the Adelaide Stock Exchange, but transferred to the Melbourne Stock Exchange by request of the ASX.
Jervois' major assets are in New South Wales. The main asset is the high grade scandium deposit 'Gilgai', near Nyngan. Significant world-wide interest in the uses and applications for scandium (including fuel cell development) make the mining operation at 'Gilgai' an enterprise which will be realised by end 2012.
Another major Company asset is a nickel/cobalt/iron laterite near Young in New South Wales. This resource contains 167 million tonnes at 0.72% nickel and 0.07% cobalt (0.6% Ni cut-off). Innovative metallurgical test work is in progress and Jervois will continue endeavouring to unlock potential value. This may involve taking a partner.
A third major asset is the nickel/cobalt laterite deposit at 'Westlynn'/'Summervale', also near Nyngan in NSW. Ongoing drilling is yielding very encouraging drill intercepts of nickel, cobalt and iron, interpreted to be derived from hartzburgite bedrock.
The Company has under licence a number of potentially significant tenements in the Lake Barlee/Lake Giles area of W.A. These tenements have shown initial indicators for uranium, vanadium and potassium, rare earths, iron and base metals. Exploration on these tenements is still in the early stages but will be ongoing.
In early 2010 the Bullabulling (W.A.) gold tenements were sold to Auzex Resources Limited on terms disclosed to the market at the time. Jervois retains a royalty of $30.00 per oz gold for the first 400,000oz and $20.00 per oz for all production in excess of the amount.
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