EXPLORATION & DEVELOPMENT

NFC enters Admiral Bay

Metalicity signs MOU with Chinese zinc player

Michael Quinn

This article is 8 years old. Images might not display.

The MoU is being pitched as “the first step in a potential partnership regarding the feasibility, development, financing and construction of Admiral Bay through to production”.

NFC is said to have a strong track record of supporting the development of large, long life zinc projects, including the Citronen project in Greenland owned by Ironbark that’s at the financing stage, and the feasibility-advanced Tala Hamza project in Algeria held 65% by Terramin.

Still, given the very patchy history of MoUs involving Chinese companies, the ASX junior was also keen to stress it’s in “alternate partnering discussions with global resources houses and financiers”.

Metalicity is working on the design of a drill program that’ll target a high grade zone at the large, deep Admiral Bay deposit in Western Australia’s north.

Metalicity started 2017 with $A3.14 million cash.

Shares in the company were up 4.5% to 7c in early trade, capitalising Metalicity at $33 million.

The stock has spent much of the past year trading at 5-6c, with a spike to 10c last June around the time it said it had extended the strike length of Admiral Bay to 130km and signed a lithium MOU with a Chinese firm – the latter which was associated with a $3 million investment in Metalicity! 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.