Resumen de People and places
The key challenge is to drive the company's fluorspar projects through the various stages of development and manage the transition of Tertiary Minerals from a mineral exploration and development company to a fluorspar production company. One of the critical tasks is to ensure that the company is adequately funded throughout its development in order to meet its strategic targets.
Earlier in the year, Wardell Armstrong International Ltd reported a tonnage-grade estimate for the project as 85-105m tonnes grading 9-11% CaF 2, at 8% CaF 2 cut-off. Following the estimate, we have now completed two phases of drilling on the project. Following the results, the company is targeting the definition of a JORC mineral resource of sufficient size to support planning of a mine-starter pit up to the first 10 years of production. We hope to complete this work by the end of Q1 2014. We view the development of the MB Project strategically important for the supply of fluorspar to the key North American market.
We believe that the increasing global demand for the downstream uses of fluorine such as refrigeration, energy reduction in the steel and aluminium industry and emerging uses, fluoropolymers in lithium batteries, for example, will increase global demand in the long term. Also, the development of more environmentally friendly refrigerants, HFC's to HFO's, potentially increases the amount of fluorine used in these products.
