Parkway Minerals’ (ASX:PWN) December quarterly report sets 2020 in motion
  • Parkway Minerals (PWN) has released an operations update for the 2019 December quarter
  • In October, the company became the complete owner of Consolidated Potash Corporation
  • From this, Parkway now owns the aMES technology which is a brine processing innovation
  • To commercialise the technology, the company appointed two experts
  • Nearly $2.8 million was raised during the quarter to support activities this year
  • Furthermore, Parkway is in late-stage discussions with potential partners and clients for its brine processing technology
  • Parkway Minerals is steady today and shares are trading for 0.8 cents each

Mineral resource company Parkway Minerals (PWN) has released an operations update for the quarter ending December 31 2019.

The company bought an initial 98.83 per cent interest in Consolidated Potash Corporation (CPC) on September 17 2019. About five weeks later, Parkway Minerals acquired the remaining 1.17 per cent.

This acquisition resulted in the company gaining complete ownership of the aMES brine-processing technology.

The technology has been developed to effectively process highly concentrated brine solutions. Currently, it has been applied to the Karinga Lakes Potash Project and the New Mexico Lithium Project.

CPC is evaluating the potential to apply the aMES technology to brine projects to improve product recovery, quality and water-use efficiency.

Appointment of Managing Director and Strategic Advisor

In late November 2019, Bahay Ozcakmak was appointed Managing Director. Bahay founded Activated Water Technologies (AWT) and was key in the development of the aMES technology.

AWT was the first technology "spin-out" company from Victoria University and was established in partnership with the university to commercialise aMES.

His extensive experience in commercialising innovative technologies led to Parkway's decision.

The company also engaged Richard Beresford as a strategic adviser. Richard is an experience technology commercialisation executive with global experience.

Enhanced Corporate Strategy

Parkway Minerals has continued reviewing its project portfolio and determining future opportunities. Along with developing the Karinga Lakes Potash Project (KLPP) towards a pre-feasibility study (PFS), the board has pinned opportunities stemming from the recently acquired aMES technology.

The aMES Technology Platform

The activated Mineral Extraction System (aMES) is an innovative process that allows for the treatment of concentrated brine solutions to recover minerals, reagents and freshwater.

It's considered a superior technology as it's optimised for mineral recovery and product quality, provides the chance for substantial project capital and operational expenditure savings and efficiently uses energy and produces pure water.

A number of brine project developers have already been engaged to potentially utilise the aMES technology to improve overall project performance.

KLPP Pre-Feasibility Study

The PFS will include an updated resource estimate and mine plan, the design and testing of a scaled-up aMES pilot plant at the Victoria University to generate engineering and performance data, and techno-economic analysis.

The proposed PFS is an opportunity for Parkway to showcase the advantages of the aMES technology.

Business Development

Parkway Minerals is exploring the use of the technology in the broader mining and energy industries. To effectively evaluate these opportunities, the company is recruiting two engineers to help develop an engineering capability and to improve interfacing.

The company is also evaluating a range of strategic partnerships with major EPC and OEM partners.

Successful Capital Raising

During the quarter, the company raised gross proceeds of $1.11 million from shareholders through a share purchase plan. Parkway also raised an additional $1.67 million through a placement.

These funds gave Parkway a solid cash position and a platform to launch its 2020 business plan.

Strategic Investment - Davenport Resources

Parkway Minerals owns a 20.8 per cent interest in Davenport Resources and is the largest shareholder.

Davenport is a junior minor which has a portfolio of significant, advanced potash projects in Germany.

The miner is focused on developing the South Harz potash field in Thuringia Central Germany. Here, Davenport owns two exploration and three mining licences.

The current JORC compliant inferred resources, as reported on December 23 2019, now total roughly 5.27 billion tonnes.

Given the global significance of Davenport's potash producing region, Parkway recognises the opportunity to create and unlock substantial value.

Parkway Minerals is steady today and shares are trading for 0.8 cents each at 10:06 am AEDT.


PWN by the numbers
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