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ASX: SRN - Surefire Resources

Surefire Resources: Want some aluminium with that vanadium?


Surefire Resources Managing Director Paul Burton on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report


Listen to ASX-listed Surefire Resources Managing Director Paul Burton talk to Matt Birney on the Bulls N’ Bears Report about Surefire’s discovery of an entirely separate lens of aluminium lurking between its vanadium lodes.



TO LISTEN TO THE SUREFIRE RESOURCES AUDIO INTERVIEW - CLICK BELOW


Surefire’s 3 projects are in WA’s Mid West. Its Yidby gold project has been turning out some stellar drill intersections and its Perenjori magnetite iron ore project has a biblical scale exploration target and a sizeable resource that will beneficiate up at close to 70 per cent. Its Victory Bore vanadium project however has just taken an interesting turn with the discovery of an entire lens of aluminium oxide neatly wedged between the vanadium lodes and the announcement of a maiden aluminium oxide resource.


RADIO INTERVIEW - TRANSCRIPT


Matt Birney - Welcome to Bulls N' Bears brought to you today by mineral exploration company Surefire Resources.


Matt Birney - ASX code: SRN


Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Surefire Resources, Paul Burton.


Matt Birney - Hi Paul.


Paul Burton - Yeah hi Matt.


Matt Birney - Okay so Surefire's three projects are in WA's Mid West. Its Yidby gold project has been turning out some stellar drill intersections and its Perenjori magnetite iron ore project has an almost biblical scale exploration target and a sizable resource that the company says will beneficiate up at close to 70 per cent Fe.


Matt Birney - It's Victory Bore vanadium project however has just taken an interesting turn with the discovery of an entire lens of aluminium oxide neatly wedged between the vanadium loads and the announcement of a maiden aluminium oxide resource.


Matt Birney - Okay Paul we'll get into that aluminium stuff in just a moment but firstly what's the existing vanadium resource of Victory Bore?


Paul Burton - Well we've got 321 million tonnes at 0.4 per cent vanadium and with an exploration target that goes up to just over a billion tonnes, up to 1.5 billion tonnes at a range from 0.2 per cent up to 0.43 per cent.


Matt Birney - Have you done any testing on that vanadium? Do you know what it will beneficiate up to in terms of grade?


Paul Burton - Yeah absolutely, it goes up to just over 1.45 per cent which makes it one of the highest grade ones in the country.


Matt Birney - Okay let's talk aluminium oxide. So you've just announced a maiden aluminium oxide resource amongst that vanadium, what is that resource?


Paul Burton - Yeah it's almost 38 million tonnes at 23.3 per cent aluminium oxide.


Matt Birney - Now I'm guessing you want to get into the high-purity alumina business with that aluminium oxide resource. What testing do you need to do to determine if you can produce a salable HPA product?


Paul Burton - Well that needs to concentrate up to the four Ns which is 99.99  per cent aluminium oxide and test work so far is achieving nearly three Ns and a little bit more test work to do and I'm confident that we will achieve the four Ns.


Matt Birney - What's HPA used for and what's the demand like for it?


Paul Burton - Well demand is increasing dramatically. It's going to be up over another 20 per cent this year. It's used mainly in three key areas at the moment. One is the electric light areas where all the old globes have even been replaced by LEDs, it's also used in smartphones, on the actual screens and internal and most importantly in the huge burgeoning battery business. Lithium batteries, there's a lot of HPA involved in those as well. So three key market areas that are going to see a lot of demand for HPA in the future.


Matt Birney - Now you said 23 per cent was the grade of the aluminium oxide how does that sort of rate in terms of your peers? Is it good? Average? Where does it sit?


Paul Burton - Oh that's extremely good, it's extremely high which is what raised our eyebrows and prompted us to actually have a look at it in deeper detail.


Matt Birney - Paul Burton from Surefire Resources.


Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information not advice which you should of course seek independently.


Matt Birney - I'm Matt Birney and this is Bulls N' Bears.


Outro - For more public company interviews go to the money page on the 6PR, 2GB, 3AW and 4BC websites and click the public companies tab


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