NTM - Northern Manganese - Aussie Stock Forums

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  1. #1
    Administrator Joe Blow's Avatar
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    Post NTM - Northern Manganese

    Groote Resources Limited (GOT) is a Perth-based exploration company which continues to actively search for new projects, both within Australia and offshore.

    Currently the company has two main projects:

    Groote Eylandt Manganese project

    Groote Resources holds exploration rights for six tenements covering 1,723 km2 of shallow marine terrain and two islands near Groote Eylandt in the Northern Territory of Australia. These tenements are located immediately adjacent to and contain the interpreted extensions of the world-class manganese deposits at Groote Eylandt currently being mined by Groote Eylandt Mining Company Pty Limited (“GEMCO”),

    The company has set an initial exploration target of 50MT of high grade DSO.

    Manganese is an essential alloy used in steel production as a strengthening component and has no known substitute. Consumption is around 50MTPA with China accounting for nearly 50% of global demand. High-grade DSO manganese such as the ore found at Groote Eylandt is much more profitable value than iron, coal, gold, and base metals.

    Mt Alexander Uranium Project

    The EL comprises 8,877 hectares of prospective ground in the Ashburton Mineral Field ofWestern Australia, approximately 10km south of Nanutarra (refer to location map below). Thearea was previously subject to exploration for uranium by Agip Nucleare and EssoExploration in the mid 1970s and for base metals and tantalum by various workers in the1990s. An assessment of this work has identified a number of conceptual uranium and basemetal targets and an exploration program is currently being produced by the team at Groote resources.

    The company continues to look for other opportunities from drill-ready exploration projects through to advanced projects with existing resources and upside potential. Although the preference is for the major metals or bulks other commodities are being considered. There is no geographical constraint other than areas of unacceptable political risk. All deal structures will be considered, from joint venture farm-in through to direct project equity or corporate acquisition.


  2. #2

    Default Re: GOT - Groote Resources

    the only reason i bought in

    Manganese is an essential alloy used in steel production
    China's appetite for ore needs other parts for making steel as well
    read picks and shovels stock here

  3. #3

    Default Re: GOT - Groote Resources

    Whilst Groote Resources has been sold down quite strongly over the past 4 months or so they have just risen 24% today albeit on relatively low volume.

    There is little doubt that GOT are sitting on a substantial manganese resource, they just need to get the local Groote Eylandt indigenous onside and permits to mine the seabed.

    This has been a problem in recent times with the indigenous heavily opposed to any further mining in the area as they already receive significant funding and support from BHP's manganese operations. Some might say that BHP maybe the push behind the local indigenous opposition to Groote Resources intentions.

    Groote Resources management changed recently and part of that change was to foster the relationship with the locals and maybe some progress is being made with this latest surge in the SP.

    Will be interesting to watch from here.

  4. #4

    Default Re: GOT - Groote Resources

    Groote getting hammered in the market, I agree ColB their resource looks substantial if they can get to it. I guess if they can't someone will eventually. ASP drop from .80c to o.19c in a couple months is never good though. i think something else may be going on, BHP may well have something to do with it.

  5. #5

    Default Re: NTM - Northern Manganese


    Listed as a CRITICAL metal and much needed
    NTM formerly GOT is being held up by the traditional land owners (TLO's)

    There is some dispute about mining these waters however on the same land mass BHP is happily mining away.


    might write to the company and get an update

  6. #6

    Default Re: NTM - Northern Manganese

    Looks like NTM have finally hit the wall and that investors have wised up to the hurdles the company has to overcome in the targeted region to simply explore, let alone mine.

    Very early in the piece the two "risks" involved for investors considering parting with their hard earned were identified as environmental and the attitude of the aboriginal traditional owners in the region.

    Seems that both factors, particularly the latter, have come home to roost. There is much information in the public domain from the TO's, represented by their peak body, the Anindilyakwa Land Council; the consistent message to NTM and would be investors is that the TO's are totally opposed to NTM's so called "Groote project' and that they will pursue all legal means to thwart the comapany's ambitions.

    It appears that the TO's are doing as they indicated. The Federal Environment Minister, Tony Burke, has indiicated that he is considering an Emergency National Heritage Listing over the exploration leases granted to NTM. This listing would also cover some areas where BHP Billiton via a subsidiary GEMCO also have EL's.

    The Traditional Owners have already rejected two applications for permission for NTM to explore on land. Both Winchelsea and Connection Islands, owned, as inaliable free hold title by the TO's, were rejected in terms of land access and placed, under the 1976 Land Rights Act, into moratorium for five years.

    In their original incarnation as Groote Resources, NTM, in my opinion, were less than responsible in hyping their stock as the "next big thing"- downplaying, or ignoring the two major risks despite an early knowledge as to the objections of the Traditional Owners.

    Hopefully this ongoing saga will assist in having both the NT and Commonwealth Govts beginning a thorough examination of the implications for open cut sea bed mining, not just in the waters around Groote Eylandt but in regards to the rest of Australia's waters.

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