News

Krucible releases audited financial statements and operational details in 2014 Annual Report. Krucible’s 3-part company development strategy is outlined showing our plans to ensure long term growth and sustainability as a modern “discovery and development company.” Financials highlight the successful cash position from our recent asset sale and the board’s cautious management and allocation of funds. The operations report emphasises that in a little over half a year since receiving the first budget in 2 years, Krucible’s geological team have conducted exploration on 9 of our 12 greenfield tenements, including lag and soil sampling, aerial surveying, drilling, biogeochemical analysis and reconnaissance trips. Analysis, interpretation and modelling have started to come through and results are being released to the market as we have them. Extensions to our rare earths are showing up and interesting results are appearing from our base and strategic metals exploration. The company’s progress in commercialising its rare earths is described in detail, particularly as to how the company will avoid the recent industry mistakes, and our exciting M&A activities are also summarised. The report illustrates what an exceptional achievement has been accomplished this year from your team, compared with the industry as a whole. 

Krucible’s plans to be a profitable rare earths mining and processing company are progressing, as announced 10 October 2014. After several months of discussions, the technical and financial due diligence is under way under confidentiality of a Non Disclosure Agreement signed with an international rare earths company (which prefers to remain anonymous for the moment). These are of course very early stage activities which may lead to a potential mutual development project, but highlights the value of Krucible’s persistent international promotional activities. Turning Krucible’s rare earths activities into shareholder wealth is one of the three corporate growth strategies of the Company, with the other two being continued exploration and acquisition of a revenue generating mining company. Krucible’s rare earths plans revolve around the Company’s expert knowledge of rare earths pricing, innovative low cost processing technology to compete with Chinese production costs, and a JORC inferred resource ready to be mined on existing infrastructure.

Krucible’s copper exploration activities on its Diamantina tenements is in progress with drilling at Tobermorey (EL28170) and will soon move to Toomba (EPM15367), as announced to the ASX 3 October 2014. This year has seen aerial geophysical surveying over the Elstone prospect in July and ground sampling in May 2013 which identified lead, copper, silver and zinc anomalies. The Diamantina is only one of several current tenement regions actively being explored by Krucible’s geological team, but is of particular interest because it appears to relate to the north west trending Toomba Fault Zone and has copper/gold mineralisation similar to IOCG deposits like Tropicana and Olympic Dam.

 

Krucible is a successful and financially secure junior resources company with an enviable history of discovery in phosphorus and heavy rare earth elements plus a proven ability to commercialise its discoveries. Listed on Australia’s main stock exchange since 2007, Krucible continues to explore for precious metals, base metals and strategic metals like strontium and rare earths, and is transitioning to be a combined exploration and mining company. Krucible has plans and expectations to ultimately enter joint ventures to develop mines on tenements in the mineral rich Mount Isa area of north western Queensland and elsewhere and has accelerated its exploration of established and greenfield tenements. Krucible has a very strong industry-based board and management, promoting aggressive value-added mining projects and strategies. We are actively seeking to acquire an operational mine needing help and suitable companies are invited to contact us.