Operations

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Operations

We see FOUR separate business units operating in Nu Fortune Gold:

  • Processing own ore, establishment of regional and mobile processing plants
  • Acquire new tenements/projects
  • Hosting R&D facility
  • Licence for Clean Mining reagent

Processing

We will process our own ore as well as others through regional and mobile processing plants.

United Mines:

  • Nu Fortune recently purchased a majority interest in United Mines Pty Ltd including tenements in the Leonora region, processing plant and other equipment
  • The United Mines project has tenements with excellent grades. Plan to reinvest profits into CAPEX to substantially increase production
  • Early results indicate high grades of free course gold

Menzies:

  • Located in the strategic location of Menzies, we have a fully operational and licensed processing plant
  • This facility has the potential to be a regional hub for local miners.
  • Strong potential for JV partnership with listed entities
  • Planning to expand the plant capabilities in Q4 2019

The Future:

  • We will source other high grade projects where owners cannot process due to high CAPEX
  • Plan to build regional processing plants to process ore within 100kms radius of each plant
  • Guidelines will be set for suitable mine sites – eg high grade, high tonnage, easy access, water, power, availability etc
  • Working on an advanced design for mobile processing plant for stranded deposits
  • Currently assessing feasibility of establishing a mobile plant in the Mt Magnet region

Tenements

Nu Fortune will aquire new tenements/projects

  • Actively seeking high class tenements or projects in suitable locations that will allow us to increase the number of processing plants
  • Successful in acquiring the United Mines tenements near Leonora
  • In the process of securing approximately 209 km2 of tenements from Eastern Goldfields Ltd.  Commissioned geologist report identifies 21 priority target areas

Research

Hosting R&D Facility

  • Nu Fortune will continue to host a world class R&D facility for its associated Companies – Eco Minerals Research Ltd (Eco) and Clean Mining Ltd (CML)
  • The research involves developing a safer and gentler cyanide alternative regent (Thiosulphate reagent) for the gold mining industry
  • Currently processing the in situ tailings dumps utilising the new Clean Mining Thiosulphate process
  • Ongoing relationship with CSIRO to further improve the efficiencies of the reagent and to test the technology on different ore types

Reagent Licensee

Background to the cyanide market:

  • Many countries have banned the use of cyanide
  • The Clean Mining reagent chemicals are an alternative to cyanide and mercury
  • Cyanide is predominately used in large scale mining operations which represent approximately 70% of gold production
  • The world cyanide market for gold processing is estimated to be US$5billion – US$7billion per annum
  • The Clean Mining technology is usable in 90% of gold production which uplifts the market size to US$6billion- US$9billion per annum
The Clean Mining Solution

Using an innovative processes, Clean Mining offers:

  • a safer, viable alternative to cyanide and mercury for gold processing
  • a product that can be used on a variety of ores
  • gold recovery rate comparable to cyanide
  • simple, innovative ore recovery process
  • lower-cost, scalable and mobile processing circuit – accessible to small and large miners and with a reduced processing footprint
  • lower risk, simplified gold recovery process – producing premium certified Clean Gold ™

It’s better for the health, safety and wellbeing of mine employees, the environment and local communities.  Consumers will demand certified Clean Gold.

Big Australian opportunity for Nu Fortune
  • Nu Fortune to become the first distributor of leading world class CML technologies
  • The Company will have unique access to many areas in Australia where cyanide usage is limited due to environmental concerns
  • Research is being undertaken into the problem of unlocking gold from stibnite. The solution for the Victorian gold company will lead to a major contract with a Victorian gold miner
  • An exclusive licence from Clean Mining for distribution of reagent and proprietary equipment in Australia
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