Geez, this will be huge..
SQTNZ is the owner of the exclusive mining and development rights for two High Purity Quartz (HPQ) Silica deposits known as White Springs (represented by leases ML 30235, ML 30236 and ML 30237) and Quartz Hill (represented by leases ML 30238 and ML 30239) located in North Queensland Australia. Together they contain in excess of 15 million tons of HPQ feedstock, which is in high demand in the marketplace to enable production of High Purity Quartz Sand (HPQS).
HPQS is an essential primary material for the manufacture of:
o Photo-Voltaic (PV) solar panels;
o Semi-conductors;
o AL High-end electronic products;
o Fiber Optical cables;
o Halogen Lamps;
o HD and LCD television screens; and
o Epoxy Mounding Compounds (EMC) for semi-conductors.
The Company subsequently changed its name to Solar Quartz Technologies Corporation ("SQTX). The company's highest priority is to build its new commercial scale HPQS production factory, to generate early sales revenues, while concurrently building its new Pre-Processing factory to supply HPQ feedstock for the HPQS second stage factory, and un-processed HPQ directly from the mine site for unprocessed Quartz sales, for which there is high demand globally. The SQTX management team will initially focus on recovering previous orders from China ($150 million) for unprocessed HPQ raw quartz, to be delivered from the Pre-Processing Factory in Townsville, North Queensland, Australia.
The SQTX management team is also confident of receiving a $10 million Grant-Loan from the Australian federal government's Clean Energy & Innovation Fund ($Five Billion) to build the Townsville factory. We are also confident the second stage funding of US$30 million required to build the high tech HPQS production factory may also be funded as well by the Government. This Capital funding initiative is not completed at this time, however, following eight months of negotiations, we are confident of a positive outcome following an important high-level meeting set for August 17, 2017 with the Director/CEO of the Clean Energy Fund in Brisbane, Australia
However, it should be noted that we have several other funding initiatives in process, with several major venture funds in the USA, now in late stage negotiation. The acquisition of SQTNZ by Vanguard Energy will greatly enhance the prospects of success for completion of the prospective US$38 million capital raisings.
Completion by Vanguard of the asset purchase of SQTNZ provides excellent advantages for Vanguard shareholders by providing the company with a potentially very profitable operational business in the booming solar energy field, and US$530 million in hard assets. Clearly this transaction has the effect of transforming Vanguard from a non-operational, non-asset owning, dormant shell corporation. This transaction clearly provides potentially excellent opportunity for all company shareholders
