Suvo Strategic sees growth in kaolin sales and strong good progress in geopolymer concrete
May 02, 2024 at 04:31 am IST
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Suvo Strategic Minerals Ltd (ASX:SUV) interim CEO Bojan Bogunovic and non-executive chairman Aaron Banks joined Proactive's Stephen Gunnion with a rundown of the company's quarterly activities report, highlighting revenue of A$3.1 million for the quarter ended 31 March, 2024, from the sale of 5,321 tonnes of hydrous kaolin.
Bogunovic noted that the company, which holds a 95% market share as the only hydrous kaolin producer in Australia, has seen its quarterly sales increase by approximately 800 tons. This growth is largely attributed to the export market, particularly to China and Vietnam, with new customers primarily in the paint, coating, inks, and rubber sectors.
Following prepayments from two major customers, which affected cash flow reporting in the last quarter, normal credit operations are expected to resume in the next quarter.
Banks discussed the company’s progress in the geopolymer concrete sector, including the signing of non-binding Memorandums of Understanding (MOUs) with Permacast and Dowsing, aiming to convert these into commercial agreements.
Suvo Strategic Minerals is also preparing for demonstration trials for a government road infrastructure project in Western Australia, which is expected to showcase the company's low-carbon concrete solutions that significantly reduce CO2 emissions.
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Proactive Australia Pty Ltd
Proactive Australia Pty Ltd
+61 431 597 771
writers.australia@proactiveinvestors.com
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Suvo Strategic Minerals Limited is an Australian hydrous kaolin producer and exploration company. The Company is focused on production at, and expansion of, their 100% owned Pittong hydrous kaolin operation located 40 kilometers (km) west of Ballarat in Victoria. Its exploration is focused on near-term kaolin and high purity silica assets with 100% owned Gabbin (kaolin), Eneabba and Muchea (silica sands) projects located in Western Australia. Its Pittong operation comprises the Pittong, Trawalla and Lal Lal deposits located on approved mining licenses (MIN5408, MIN5365 and MIN5409). The Gabbin (kaolin) Project area comprises four granted exploration licenses (E70/5039, E70/5332, E70/5333, E70/5517) for 413 square kilometers (km2), centered around the town and rail siding of Gabbin. The main rock types at Gabbin are Archaean granite, gneiss and migmatite. The Eneabba Silica Sands Project comprises four granted exploration licenses (E70/5001, E70/5322, E70/5323, E70/5324) for 169 km2.