Cradle Resources Ltd (ASX: CXX)
Cradle Resources (ASX:CXX) is progressing well in its search for niobium, having delivered a first rate Definitive Feasibility Study (DFS) with which to source larger-scale funding and move into mine construction at its flagship Panda Hill Project in Tanzania.
Niobium is a relatively unknown metal that has attracted a whole swathe of manufacturers in car making, steelmaking and electronics and if CXX fulfils its promise of constructing a mine, its production footprint indicates that it will be able to contribute around 6% of the world’s total supply of niobium.
CXX plans to be in production within two years.
CXX has solid institutional backing, having recently raised $2.1M.
It has also recently received a sturdy Ore Reserve, indicating a life-of-mine ore reserve of 10 years, a recovery rate of 61%, and an operating cost that is half the current niobium price.
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Niobium is a tightly held market with only three other players in the world, so if CXX can break into the market at just the right time, its $43 million market cap could well be headed much higher.