Recently Announced Industrial Minerals business in Spain
Signed a quartzite testing agreement with PCC SE ("PCC") to validate the chemical and thermal stability of Fairmont's Baie Comeau and Forestville Quartzite Projects
WHY FAIRMONT RESOURCES?
- Signed a quartzite testing agreement with PCC SE to validate the chemical and thermal stability of Fairmont's Baie Comeau and Forestville Quartzite Projects
Demand has been increasing in recent years and is currently strong in Europe, Asia, and North America for Granite and industrial minerals.
- Modernized Granite processing facility worth millions of Euros http://www.fairmontresources.ca/gallery-gf.php
- Inventory worth in excess of a million euros http://www.fairmontresources.ca/gallery-gp.php
- FMR receiving strong interest from finance parties in Europe, U.S., and Canada to fund up to 8m euros ($12m CDN) in senior secured debt to complete the acquisition and provide the company with a large operating cash cushion.
- Fully operational processing and finishing facility, the former assets of Granitos de Badajoz S.A.
- 250,000 square metres of annual production capacity
- Total acquisition cost of EUR4.275 million
- Mine licenses and processing facility will make Fairmont one of the largest granite producers in Europe
The company's assets include 23 premium quality dimension stone mine licenses and a 42,000 square metre processing facility for cutting and polishing with an annual production capacity in excess of 250,000 square metres. These mine licenses and processing facility will make Fairmont one of the largest granite producers in Europe.
Providing premium dimension stone for commercial, retail and industrial applications throughout Europe, Grabasa averaged over EUR6 million in annual sales in the last 5 years of its operation. In the final year of operation Grabasa’s average monthly operating costs were EUR217,600 and its average monthly sales were EUR371,475.
Critically, 18 of the 23 mining licenses, totaling 72% of the total area of Grabasa’s licenses, are within eight kilometres of the processing plant with the remaining five within 20 kilometres. The ISO 9001:2008 certified processing facility, situated just outside of Burguillos del Cerro, is state of the art with over EUR2.2M of new cutting and polishing equipment purchased by Grabasa as part of a production expansion between 2008 and 2010.
GRABASA FACILITY INVENTORY
- Historic resource of 12.3 million short tons (11.2 million tonnes) of 99.20% SiO2 - "acceptable quality for ferro silicon" - Ferro Silicon sales price recently reported at CAN$100 per tonne
- The two additional claims staked which contain the historic resource and are contiguous to the original Baie-Comeau Quartzite claims that Fairmont Resources announced in a press release on January 23, 2015 (http://goo.gl/y1eR9z)
- Contiguous to the north and south of RB Energy’s Quebec Lithium Mine with a published measured and indicated resources (at a 0.60% Li2O cutoff) of 41,556,000 tonnes at 1.09% Li2O, and an inferred resource of (at a 0.60% Li20 cutoff) of 17,766,000 million tonnes at 1.10% Li2O
- Also contiguous to Jourdan Resources Vallee Lithium property that drilled more than 4000m of core in 2011 and intersected more 100 pegmatite and aplite dikes.
- Jourdan Resources intersected values of up to 1.187% Li2O over 5.50m
Fairmont Encouraged by Chinese Asset Purchase of Former Lithium Producer rb Energy Adjacent to Rome Lithium Property
- Jilin Jien already active in Quebec, following the 2010 acquisition of Canadian Royalties
- Rome Lithium Property acquired by Fairmont Resources less than a month ago
- Historical underground and open pit lithium mine on property adjacent to Rome Lithium Property
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