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TAO COMMODITIES LTD - Corporate Spotlight

TAO Commodities Limited is an exploration and development focused company, headquartered... TAO Commodities Limited is an exploration and development focused company, headquartered in Western Australia with a core focus on critical minerals in the USA.More

Corporate Spotlight

TAO Commodities Limited is an exploration and development focused company, headquartered in Western Australia with a core focus on critical minerals in the USA.
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TAO Commodities on The Market Herald Dealroom

TAO INCREASE HOLDINGS AT HMS PROJECT

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Tao Commodities (ASX:TAO) increases holdings at U.S. HMS project

Mining

ASX:TAO    MCAP $23.36M 
Tao Commodities (ASX:TAO) releases update on Hyperion Metals
Source: Tao Commodities


  • Tao Commodities (TAO) has increased its land holding at the Titan heavy mineral sands (HMS) project in Tennessee by over 40 per cent
  • The company has entered into land option agreements with landowners around its current holdings, covering 900 acres of prospective territory
  • The project now comprises around 3000 acres of the McNairy Sands geological formation, which is highly prospective for zircon and titanium
  • Upon exercise of the exclusive option agreements, Tao will be able to enter into long-term leases for the ground and associated mineral rights
  • Phase one drilling results — including samples from the new properties — will be delivered soon
  • Tao Commodities ended the day trading down 5.56 per cent at 25.5 cents

Tao Commodities (ASX:TAO) has increased its land holding at the Titan heavy mineral sands (HMS) project in Tennessee by over 40 per cent.


New options

Tao has entered into land option agreements with landowners around its current holdings, covering 900 acres of prospective territory.

The project now comprises around 3000 acres of the McNairy Sands geological formation, which is highly prospective for zircon and titanium.


The additional land packages have been the focus of Tao's phase one and two drilling campaigns at Titan, and have already been successfully explored in previous drilling by other companies.


Tao Managing Director Patrick Glovac says the addition of the new tenements will make the exploration — and potential exploitation — of the Titan resources much simpler.


"We are very pleased to have rapidly secured additional properties in an area with a record of being highly prospective for HMS," Patrick said. 


"Importantly, the additional properties now form a large and contiguous parcel of land and mineral rights which enable the company to explore the region in a targeted and methodical manner," he continued.


"This provides the potential for the company to target the delivery of a large and contiguous mineral resource," the MD added.


Read the full article on The Market Herald

TAO BEGINS DRILLING AT TITAN PROJECT

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Tao Commodities’ (ASX:TAO) Hyperion Metals begins drilling at Titan

Mining

ASX:TAO    MCAP $11.14M 
Tao Commodities (ASX:TAO) - Non Executive Chairman, Mark Connelly - The Market Herald
Non Executive Chairman, Mark Connelly
Sourced: Business News


  • Tao Commodities (TAO) has announced that Hyperion Metals has begun drilling at the Titan Heavy Mineral Sands Project in Tennessee, U.S.
  • In mid-September, Tao revealed it had acquired an option to purchase 100 per cent of Hyperion via a $2 million payment and the issue of more than 25 million shares
  • This drilling program will be overseen by a team of seasoned geologists who have more than 60 years combined experience in heavy mineral sand projects across the U.S.
  • Further, Hyperion has engaged M&W Drilling to undertake a sonic core drilling program
  • This program will consist of roughly 20 holes to follow-up on historic exploration carried out by BHP and Dupont, and outline further targets
  • Drilling is expected to be completed by November, with core being sent for heavy mineral separation and mineralogical analysis during over the current and upcoming quarters
  • Tao is up a slight 1.41 per cent on the market with shares trading for 36 cents each

Tao Commodities (TAO) has announced that Hyperion Metals has begun drilling at the Titan Heavy Mineral Sands Project in Tennessee, U.S. 


In mid-September, Tao revealed it had acquired an option to purchase 100 per cent of Hyperion via a $2 million payment and the issue of more than 25 million shares. 


The 2100-acre Titan Project hosts both titanium and zircon which are respectively used in the production of pigment and paints, and ceramics. 


This drilling program will be overseen by a team of seasoned geologists who have more than 60 years combined experience in the exploration and development of heavy mineral sand projects across the U.S. 


Further, Hyperion has engaged M&W Drilling to undertake a sonic core drilling program. 


This program will consist of roughly 20 holes to follow-up on historic exploration carried out by BHP and Dupont and outline further targets. 


Drilling is expected to be completed by November, and core will be sent for heavy mineral separation and mineralogical analysis during over the current and upcoming quarters. 


Results will be released to the market as soon as they become available. 


Read the full article on The Market Herald 

TITANIUM AND ZIRCON PROJECT ACQUISITION

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US Titanium & Zircon Heavy Mineral Sand Project Acquisition

ASX Release 29th September 2020


Read the full presentation here: https://hotcopper.com.au/threads/ann-us-titanium-zircon-heavy-mineral-sand-project-acquisition.5652014/



VIDEOS

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TAO Commodities discuss recent fund-raising and project acquisition (Titan Project, USA) on The Market Herald Dealroom - September 2020









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NEWS: TAO TO AQUIRE NEW US PROJECT

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Tao Commodities (ASX:TAO) granted option to acquire U.S. mineral sands project

Mining

ASX:TAO    MCAP $3.766M   
Tao Commodities (ASX:TAO) granted option to acquire U.S. mineral sands project
Source: Tao Commodities


  • Tao Commodities (TAO) has acquired an option to purchase Hyperion Metals, which holds the Titan heavy mineral sands project in Tennessee, U.S.
  • The project covers 2100 acres and the previous exploration indicates the presence of a high-grade titanium and zircon deposit
  • Titan has access to high-grade infrastructure, including road, rail, shipping, gas, power, processing facilities and a localised workforce
  • Tao has secured commitments for a $2 million placement to fund the acquisition, exploration and transaction costs
  • The company plans to start an exploration drilling program with expectations to receive results on the HMS grade and assemblage by the end of the year
  • Tao Commodities is trading 79.17 per cent higher at 21.5 cents

Tao Commodities (TAO) has acquired an option to purchase Hyperion Metals, which holds the Titan heavy mineral sands project in Tennessee, U.S.


The project covers 2100 acres and the previous exploration indicates the presence of a high-grade deposit.


The project sits within the McNairy Sand, where Altair International reported a resource of 3.6 per cent heavy mineral sands (HMS) proximate to Titan in 1998.


The HMS were made up of 15 per cent zircon, 5 per cent rutile and 60 per cent high-titanium dioxide (TiO2) ilmenite.


The project is located around 15 kilometres from Chemours’ New Johnsonville pigment plant, which is one of the largest pigment plants globally. Titan also has access to extensive high-grade infrastructure, including roads, shipping, rail, power, gas and a localised workforce.


The U.S. has designated titanium and zircon as critical minerals, which allows for potential access to U.S. federal funding programs down the line.


The acquisition

Tao has secured commitments for a $2 million placement to fund the acquisition. Along with existing cash reserves, the placement will also support exploration at Titan and transaction costs for the acquisition.


Tao will issue 25 million shares at eight cents each, subject to shareholder approval.


Hyperion has entered into exclusive option agreements with local landowners which allows the company to lease or purchase around 2,100 acres of land area and the associated mineral rights.


In the case of a lease, the company will pay a net smelter royalty to landowners of around 5 per cent of all product mined and sold.

If purchased, the land will be sold for market value, plus a premium of around US$1,750 to US$1,950 per acre (around A$2480 to A$2760 per acre).


Hyperion’s founders include Ian Middlemas and Anastasios Arima, who were key players in the development of Piedmont Lithium (ASX:PLL). Mr Arima was responsible for raising $83 million for the development of Piedmont's lithium project in North Carolina.

Upon completion of the acquisition Mr Arima will join Tao's board as Executive Director and will be based out of Charlotte, North Carolina.


Subject to shareholder approval, Tao will issue 3.5 million unlisted management options, exercisable at 25 cents each and expiring December 31, 2023, to incoming management.


The next steps

Tao aims to get moving at Titan as soon as possible, with major milestones in the pipeline before the end of 2020.

The company plans to start an exploration drilling program with expectations to receive results on the HMS grade and assemblage by the end of the year.


Tao will also conduct metallurgical testwork on the ilmenite, zircon and rutile to determine the quality of potential end-products.

Along with building-out the U.S. development to support the project's advancement, Tao is making moves to fill a gap in the billion-dollar U.S. titanium supply market.


Tao Commodities is trading 79.17 per cent higher at 21.5 cents at 12:17 pm AEST.


Read the full article on The Market Herald here: https://themarketherald.com.au/tao-commodities-asxtao-granted-option-to-acquire-u-s-mineral-sands-project-2020-09-24/

TAO AQUIRE NEW US MINERALS PROJECT

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OPTION TO ACQUIRE A LARGE-SCALE U.S. TITANIUM & ZIRCON MINERAL SANDS PROJECT

ASX Release 24th September 2020


Option to acquire 100% interest in 2,100 acres of titanium and zircon prospective heavy mineral sands (“HMS”) properties in Tennessee, U.S.


The Titan project (“Project”) is located in an area which saw significant historic exploration from 1960 – 1990 by DuPont, BHP and others, and included:


o Over 200 drill holes and a bulk sample mining operation
o Definition of a high-grade deposit of 3.6% HMS with a highly valuable mineral

assemblage of 15% zircon, 5% rutile and 60% high TiO2 ilmenite
• Significant competitor advantage located in the USA, with benefits including:

o Located 15km from Chemours’ New Johnsonville pigment plant, one of the largest titanium consuming plants in the world, and within 1,000km of all other U.S. pigment plants

o U.S. pigment industry is one of the largest global consumers of titanium minerals, but imports ~95% its requirements, valued at over A$1 billion in 2019

o Excellent access to heavy haulage rail, high voltage power, interstate highways and river ports

o Proximal to major population centers with skilled personnel experienced in heavy equipment and plant operations

o The U.S. has designated titanium and zircon as critical minerals, which allows for potential access to U.S. federal funding programs


TAO has a unique opportunity to re-establish a major U.S. titanium and zircon project base ahead of large government infrastructure and military stimulus programs which are expected post COVID-19


TAO will immediately commence exploration and continue with an aggressive land consolidation program in Tennessee, U.S.


The Project founders include Mr. Ian Middlemas and Mr. Anastasios Arima, highly experienced company executives from the Apollo Group, an investment and management group with more than 20 years of success in the natural resources sector.


Mr. Arima will join the board as Executive Director and oversee the exploration and development of the Project


Firm commitments have been received for a A$2 million placement, subject to shareholder approval, with Taylor Collison acting as Lead Manager


Tao Commodities Limited  (ASX: TAO) is pleased to announce that it has entered into an option to acquire 100% of the issued capital of Hyperion Metals Pty Ltd (“Hyperion”) (“Acquisition”). Hyperion holds a 100% interest over the Titan Project, which is comprised of ~2,100 acres of options to lease or purchase private surface and mineral rights (“Option Agreements”) that are highly prospective for titanium and zircon mineral sands proximal to the town of Camden in Benton, Henry and Carroll counties in Tennessee, USA. The material terms and conditions of the Acquisition are described in Appendix A below.


page2image1237773232

Figure 1: Project location in relation to large U.S. TiO2 pigment producers and major infrastructure


Commenting on the transaction, Managing Director Patrick Glovac said, “We are very excited to secure a large-scale project on the doorstep of the U.S. titanium industry, in a nation which currently imports almost all their titanium requirements. 


Most exciting is the fact that some of our potential customers are only a short truck, barge or rail distance from the project with the largest titanium consuming plant in the U.S. being only 15km from the Titan project. We look forward to finalising due diligence and beginning exploration activities in the U.S.”.


U.S. Strategic & Logistical Market Advantage

The Project is strategically located in the southeast of the U.S., close to significant manufacturing capacity, providing a significant logistical advantage over current U.S. supplies of imported titanium feedstock. Specifically, the Project is ~15 km from Chemours’ New Johnsonville pigment plant, one of the largest pigment plants globally and within a low-cost barge, truck or rail-served distance to all other major U.S. titanium pigment and metal plants.


page3image1286451520

Figure 2: Project land holding in Benton, Carrol and Henry counties, Tennessee, USA


The U.S. is the second-largest global importer of titanium feedstocks where it is used to produce two main products;

  1. Titanium dioxide pigment for the coatings and plastics sector; and

  2. Titanium metal for the defense, aerospace, space and medical sector.


Over the last decade the U.S. has seen a significant decrease in production of both titanium mineral feedstocks (ilmenite and rutile) and zircon with the closure of Iluka’s operations in Virginia in 2016. As a result, import reliance has increased from 74% in 2010 to 95% in 2019, with import values increasing from ~A$470 million to ~A$1,200 million in the same period.


Importantly, the market for titanium and zircon will further benefit from global government infrastructure spending, expected to be enacted as a means of economic stimulus as a result of the COVID-19 pandemic. This has the potential to significantly increase global demand, whilst exacerbating the strategic need for the re-establishment of a U.S. production base of these minerals.


Read the full ASX Release and the presentation here: https://hotcopper.com.au/threads/ann-option-to-acquire-titanium-zircon-mineral-sands-project.5643254/

ABOUT TAO COMMODITIES

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TAO COMMODITIES

Visit TAO Commodities Website Here


TAO Commodities Limited is a base metals exploration and development focused company, headquartered in Western Australia with a core focus and operations in Utah, USA and Tennessee, USA. 


TAO Commodities Limited (ACN 618 935 372) (ASX: TAO) is an Australian company incorporated in Western Australia in 2017 for the purpose of pursuing various investment opportunities in the resources sector.


Since incorporation, the Company has acquired a 100% interest in the Milford Base Metals Project in Beaver County, UTAH, which is considered to be prospective for Zinc, Lead, Copper and Silver.


The Company will also consider new projects and opportunistic acquisitions in the resources sector which complement the Projects and that can enhance Shareholder value. The Board of the Company includes Directors with lengthy experience in the resources industry and especially in cost-effective exploration and project development.


CONTACT US

22 Townshend Rd, Subiaco WA 6008

08 6380 2470

[email protected]


Visit TAO Commodities Website Here

Tao boost U.S. holdings at HMS project

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  • Tao Commodities (TAO) has confirmed thick, high-grade mineralisation from phase one drilling at its Titan Project in Tennessee
  • Pleasingly, all holes encountered elevated heavy mineral sand (HMS) mineralisation over the Upper Shore Zone and the Lower Shore Zone
  • Results include grades of up to 8.09 and 8.16 per cent total heavy minerals and all holes yielded grades above one per cent
  • Tao is currently waiting on assays from the recently completed phase two program and is planning a third phase to begin this quarter
  • The drilling will support a maiden resource estimate for the project and is aimed to be released in quarter two
  • Tao's shares are trading in the grey at 33 cents

    Tao Commodities (TAO) has confirmed thick, high-grade mineralisation from phase one drilling at its wholly-owned Titan Project in Tennessee. Pleasingly, all sonic core holes encountered elevated heavy mineral sand (HMS) mineralisation.

    Within the thick envelope of mineralisation, the company identified two zones of high-grade mineralisation. These zones have been dubbed the 'Upper Shore Zone' (USZ) and the 'Lower Shore Zone' (LSZ).

    The mineralised zone ranged from 12.2 metres to 48.8 metres with all results above one per cent total heavy minerals (THM).

    Assays from drilling include; 47.2 metres at 3.69 per cent THM, including 10.7 metres at 8.09 per cent THM and 10.7 metres at 5.47 per cent THM; 35.1 metres at 3.04 per cent THM, including 10.7 metres at 8.16 per cent THM; and 32 metres at 3.12 per cent THM, including 10.7 metres at 5.64 per cent THM.

    "We are very encouraged by these initial results and plan to aggressively delineate this potentially world-scale HMS deposit which has exceptional characteristics including simple geology, high-grade intersections, high-value assemblage, located in an infrastructure rich, low-cost region in the U.S. with customers on our doorstep," Executive Director Taso Arima said.

    Tao also conducted a preliminary analysis of valuable heavy minerals (VHM). Initial results have shown a favourable range of 42 to 76 per cent VHM across the selected drill holes.

    This indicates a highly valuable potential product suite of the VHM portion which consists of 16.9 per cent rutile, 14.5 per cent zircon, leucoxene, 46 per cent other high-titanium minerals and 1.8 per cent monazite.

    Tao Commodities is now waiting on assays from phase two drilling, which was completed in December last year.

    In the meantime, it's planning a follow-up phase three program for the current quarter and this will aim to delineate a maiden resource estimate in the second quarter.

    TAO's shares are trading in the grey at 33 cents at 12:25 pm AEDT.
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