Jervois Global

We've agreed with the majority bondholder to extend the Waiver and Interest Deferral of the Idaho Cobalt Operations Bonds to 6 September 2024. This extension covers all financial covenants and potential cross-defaults, includes forbearance on financial covenant compliance, and extends waivers for the Jervois Finland Working Capital Facility. The necessary approvals were secured as the bondholder, holding more than two-thirds of the ICO Bonds, voted in favour. Other than the Waiver and Deferral, there are no changes to the ICO Bonds' terms. As previously announced, Jervois is working in conjunction with its providers of both debt and equity capital, and third parties, on potential transactions to strengthen its balance sheet.   Read the full ASX Announcement here: https://lnkd.in/g6UbziHV

We’ve secured an extension for the Waiver and Interest Deferral of the Idaho Cobalt Operations Bonds to 30 August 2024. This includes forbearance on financial covenant compliance and interest deferral, aligning with ongoing commercial discussions. In addition waivers for financial covenants and collection account balances have been implemented under the Jervois Finland Working Capital Facility. These changes have been approved by the majority bondholder, with no other modifications to the ICO Bonds' terms. Read the full ASX Announcement here: https://lnkd.in/gzte4FJF #JRV #JervoisGlobal #ASX #ICO #Finland #Minerals #Cobalt

China’s stockpile agency (NFSRA, which overlooks the SRB) is reportedly buying a further 15,000 MT of cobalt metal at record low prices after they have killed the market over the past 2 years. This is on top of recent purchases of another 15,000 MT. Cobalt is essential to China’s military prowess and its low-cost EVs. Cobalt metal is for the former. 🗞️The Diplomat https://lnkd.in/gYZ65ChB #Stockpiles #JRV #Jervois #China #cobalt #Stockpile

The Economist notes China’s economy is slowing but its stockpiling of critical minerals and other commodities is surging. China’s cobalt stockpile today is at a level aligned to levels maintained by the U.S. at the end of the Cold War. The U.S. today has effectively no cobalt in its stockpile. In 1990 the U.S. wanted a physical cobalt stockpile as an insurance policy for national security; China has decided it is warranted today. America remains uncovered. #Stockpiles #JRV #Jervois #China #cobalt https://lnkd.in/di73pkVB

Results from the first four drillholes as part of the U.S. Department of Defense-funded extension drilling at our Idaho Cobalt Operations has confirmed significant resource growth potential at the RAM deposit. The drilling program, which is part of the Defense Production Act Title III funding, has identified strong cobalt-copper-gold mineralisation at depths outside the existing 2023 MRE margins. Four extensional drill holes intersected the main mineralised horizon, with results including 1.8m at 1.10% cobalt, 1.18% copper, and 0.69 g/t gold in Hole JU24-093. These findings, complemented by additional hangingwall intercepts, suggest substantial resource extension potential. Prior to this drilling, ICO was already the largest and highest grade confirmed cobalt orebody in the U.S. The deepest intercept to date indicates strong upside potential of further resource extension at depth, which Jervois anticipates will be tested with future drilling. Read the full ASX Announcement here: https://lnkd.in/g2G67ChG #JRV #IdahoCobaltOperations #CobaltMining #DoDfunding #Cobalt #Copper #Gold #ResourceExpansion #MiningIndustry #MiningNews #ResourceDevelopment

Jervois Global Quarterly Activities Report to 30 June 2024. Read the full report below. #cobalt #nickel #asxnews #miningnews

Q2 2024 Investor Presentation View the full presentation below. #JRV #Jervois #ASXNews #ASX #Cobalt #Nickel

We've transferred the debt from the Secured Working Capital Facility, provided by Mercuria Energy Trading S.A. to our 100% owned subsidiary Jervois Finland, to the majority bondholder of the Idaho Cobalt Operations' US$100 million Senior Secured Bond. This investor is now the Lender under the Facility, which remains secured against Jervois Finland's assets, working capital, and shares in Jervois Finland owned by Jervois. The Facility continues to have an unsecured parent guarantee from Jervois, and its terms remain unchanged. We're continuing our engagement with the investor and other parties to explore potential solutions to strengthen our balance sheet. Read the full ASX Announcement here: https://lnkd.in/gsz6H3wm #JRV #Jervois #Finland #ASX #ASXNews #Cobalt

Our Group Manager – ESG, Dr. Jennifer Hinton, presented at a United States House of Representatives roundtable in Washington D.C. The session, organised by the Critical Minerals Policy Working Group of the U.S. House Select Committee on the Strategic Competition Between the U.S. and the Chinese Communist Party, focused on environmental stewardship, forced labor, sustainability, governance, and corruption in critical mineral production, including cobalt. This follows a presentation by Wayde Yeoman, Executive General Manager – Commercial, at the same committee earlier in the month. The roundtable discussion is part of ongoing efforts to develop legislative recommendations to support U.S. domestic production of critical minerals and mitigate Chinese market influence, including the proposed Resilient Resource Reserve aimed at stabilising cobalt prices. We continue to engage with the Congressional Committee and U.S. lawmakers with regard to next legislative steps. A recording of the Critical Minerals Policy Working Group Meeting can be viewed here: https://lnkd.in/gBh4UF7K Read the full ASX Announcement here: https://lnkd.in/gayKWzB2 #JRV #Jervois #Cobalt #CriticalMinerals #Sustainability #ESG #CobaltProduction #EnvironmentalStewardship #USChinaRelations #MineralSecurity #MineralSupplyChain #EthicalMining #SustainableMining

Jervois has constructed a #cobalt mine on the U.S.’s best orebody. Now it cannot compete with Chinese overproduction, as the playing field is not level. Dr. Jennifer Hinton, Jervois’s head of ESG, has been invited to present today to a U.S. House Select Committee roundtable on Strategic Competition between the U.S. and the CCP on this reality, and how their proposal for a reserve to sustain the cobalt price for U.S. miners can help. https://lnkd.in/gj9xqAnJ #JRV #Jervois