SGQ Appoints Niobium Engineering Expert
Our Brazilian niobium Investments St George Mining (ASX: SGQ) just brought onto its team Mr Carlos Alberto de Araujo.
Carlos was previously with CBMM - the owners of the world’s biggest niobium mine which is right next door to SGQ’s project.
He was with CBMM for 15+ years and was also one of the industrial specialists who managed the design, construction and commissioning of CBMM’s niobium processing plant.
This isn't SGQ’s first hire from CBMM either.
SGQ has previously appointed Ricardo Maximo Nardi, the former CBMM mineral processing head.
Between Ricardo and Carlos, SGQ now has over 45 years of experience working at the world’s biggest niobium mine (which just so happens to be next door to SGQ.
We think both are strong appointments by SGQ who is currently completing the acquisition of a niobium/rare earths asset right next door to CBMM.
SGQ’s project has over 500 intercepts with niobium grades above 1% and SGQ is hoping to get a maiden JORC resource out for the project this year.
SGQ also signed an MOU with a major plant builder…
Only last week SGQ also signed an MoU with Xinhai to negotiate a Definitive Strategic Partnership Agreement.
Xinhai, who came into SGQ’s recent $20M capital raise (for $8M) is now one of SGQ’s biggest shareholders AND could become a key partner for the company when it comes time to develop SGQ’s project.
Xinhai is big - the Engineering Procurement and Contracting (EPC) company has performed at more than 2,000 mines in more than 100 countries.
It’s hard to underestimate the importance of having a big partner like Xinhai, which is willing to commit capital & expertise to SGQ.
The MoU is designed to consider the following:
Now, with the ex-CBMM hire’s SGQ has a solid team of specialists in getting projects developed - for now though we want to see SGQ close out the acquisition and start drilling…
What’s next for SGQ?
The two main milestones we want to see SGQ complete are:
- Complete the $20M capital raise - we want to see the cash hit SGQ’s bank account, and the new shares trading on the ASX. The shareholder meeting to approve the placement is set to be held today, so the deal could be completed sometime this week.
- Make the initial payment to the vendors of the asset and finalise the acquisition - this one should be done before that deadline date of 15th March 2025.
To see why we are Invested in SGQ read our first note on SGQ here:
