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6 stories mentioning ASX:SGQUpdated 32m ago

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Asia

St George Mining Secures Commitments for AU$60 Million Institutional Share Placement

St George Mining (ASX:SGQ) secured firm commitments to raise a gross AU$60 million through a dual-tranche institutional placement of 600 million ordinary shares at AU$0.10 each, according to a Wednesday filing with the Australian bourse.The placement is supported by the company's largest shareholder, Hancock Prospecting, which has committed to subscribe for AU$20 million worth of shares, per the filing.Following completion, Hancock will hold a roughly 10.5% stake in St George Mining.In the first tranche, the company will issue about 424.5 million new shares to raise around AU$42.4 million. Under the second tranche, it will issue about 175.5 million shares to raise around AU$17.6 million, subject to shareholder approval.St George Mining will use the proceeds to develop its high-grade rare earth and niobium Araxá project in Brazil.

ASX:SGQ
Asia

St George Mining Generates High-Grade Niobium Concentrates from Beneficiation Testwork at Brazil Project

St George Mining (ASX:SGQ) said flotation beneficiation testwork at its Araxá project in Brazil generated high-grade niobium concentrates with recovery rates that are comparable to industry standards, according to a Thursday filing with the Australian bourse.The initial testwork comprised open-circuit flotation and achieved 39.6% niobium pentoxide concentrate grade at 54.3% flotation recovery, and 40.2% niobium pentoxide concentrate grade at 46% flotation recovery, per the filing.Open-circuit beneficiation testwork also achieved a rare earth concentrate stream with a grade of 15.7% total rare earth oxides.The next phase will include locked-cycle and recycle flotation testwork to optimize the beneficiation with increased recovery and grades, the company said.Shares of St George Mining gained 2% in recent Thursday trade.

ASX:SGQ
Asia

St George Mining to Buy ATL's Shareholding in Lithium Star JV in AU$2 Million Share Deal

St George Mining (ASX:SGQ) said it will buy Amperex Technology's (ATL) shareholding in the Lithium Star joint venture in an all-share deal, priced at AU$0.16 per share, a 36% premium to the 30-day volume-weighted average price, as part of the restructure of the joint venture, according to a Tuesday Australian bourse filing.The company said under the restructure, it will acquire ATL's 10% shareholding in Lithium Star for total consideration of AU$2 million, satisfied by the issue of 12.5 million St George shares at AU$0.16 per share, subject to shareholder approval at a general meeting set for early July.

ASX:SGQ
Asia

St George Mining Appoints Worley For Brazil Niobium-Rare Earths Project Technical Advisory Services

St George Mining (ASX:SGQ) appointed Worley (ASX:WOR) subsidiary Worley Engenharia to provide technical advisory services for the potential development of a niobium and rare earths mine at its Araxá project in Brazil, according to a Wednesday Australian bourse filing.St George Mining Brasil, a wholly-owned unit of St George, entered into a technical services agreement with Worley Engenharia, under which Worley will provide engineering and project management advice to support development studies.St George also engaged metallurgical experts in Australia to provide advice on metallurgical matters and serve as the competent persons for metallurgy disclosures.

ASX:SGQASX:WOR
Asia

St George Mining's Diamond Drilling at Brazil Rare Earths-Niobium Project Continues to Expand Mineralization; Shares Down 3%

St George Mining (ASX:SGQ) said assays for a further 13 diamond drill holes at the Araxa project in Brazil continued to expand the mineralization at the project, according to a Tuesday Australian bourse filing.The company encountered intercepts of 43 meters at 8% grade of total rare earth oxides and 0.7% grade of niobium pentoxide from surface, as well as 43 meters at 8% grade of total rare earth oxides and 0.7% grade of niobium pentoxide from surface, per the filing. The highest grades were over 25% of total rare earth oxides in AXDD103 and 3.3% of niobium pentoxide.The company completed 13,700 meters of drilling in the current drill campaign.Its shares fell nearly 3% in recent trading on Tuesday.

ASX:SGQ
Asia

St George Mining Developing Technology to Separate Cerium, Lanthanum From Brazil Project Rare Earths

St George Mining (ASX:SGQ) is developing proprietary technology to separate cerium and lanthanum from the rare earths mineralization from the Araxa project in Brazil, according to a Tuesday Australian bourse filing.The separated cerium will then be available for manufacture of a commercial cerium product, the filing said. The company will collaborate with Nanum Nanotecnologia on the commercialization of the cerium component in the large rare earths resource.The company acquired land at Araxa for the potential construction of new facilities, per the filing.St George Mining's shares rose nearly 2% in recent trading on Tuesday.

ASX:SGQ

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