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Monday, 09/27/2021 11:20:18 AM

Monday, September 27, 2021 11:20:18 AM

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Jervois advances construction at Idaho Cobalt Operations


Update following visit to site to review construction progress by Directors Mr. Bryce Crocker and Mr. Mike Callahan.

Detailed engineering and procurement substantially advanced with commitments for more than 40 per cent of all equipment and material required for construction of Jervois’ 100% owned Idaho Cobalt Operations (ICO ), United States.

Since Board approval for full construction Jervois has now committed more than US$30 million towards equipment, materials and labour costs for ICO.

Activity underway at ICO includes civil and concrete works for construction of the processing plant and preparation for underground mining.

ICO construction, procurement and engineering schedule is on track, with commissioning and first production of cobalt concentrate from a mine in the United States in generations expected from mid 2022.

First draw down of US$100 million bond offering (the Bond Offering) continues to be anticipated in Q4 2021

Jervois expands scope of São Miguel Paulista Refinery BFS


Jervois expands São Miguel Paulista (“SMP” ) Bankable Feasibility Study (“BFS”) scope to include a larger pressure oxidative (POX ) autoclave, and plans to restart the refinery in a fully integrated single stage.

Adjusted BFS flowsheet to consolidate on prior nickel sulphate studies commissioned at SMP by Companhia Brasileira de AlumÃ-nio (“CBA”), to leverage expertise in chemicals production from Jervois Finland and target higher premia battery markets.

BFS outcomes expected to be released by end Q1 2022 to include updated capital expenditure and schedule estimates for refinery restart.

Agreement with CBA to extend the outside date for closing SMP acquisition to March 2022, to allow CBA additional time to renew applicable operating permits.

Jervois remains confident in the attractiveness of restarting SMP and its future significance to expansion of the non-China battery materials value chain.

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