Greentech offers investors exposure to the rapidly growing market for high-purity quartz (HPQ). HPQ is a vital ingredient in the solar panel, semiconductor, and other high tech industry sectors, in which the highest purities are critical. Greentech has identified quartz vein deposits on its tenements near Mount Isa in northwest Queensland, and work done to date by the Company and potential offtake partners has been very encouraging.

Greentech has already undertaken considerable exploration including bulk sampling, trial mining and assaying. A JORC-compliant Resource has been estimated by an external consultant, and the Company has been granted a Mining Lease that enables us to commence production. This previous work has given the Company confidence that it can mine, process and deliver a HPQ feedstock product that will be attractive to customers in this highly specialised business.

The challenge with developing a new HPQ feedstock mining and production project is that there is a wide range of products and prices based on the overall silica purity and the amounts of specific impurity elements, both for the run-of-mine quartz and after various stages of processing and beneficiation. Accordingly, the funds raised under the offer will be largely directed to completing a feasibility study for the commencement of mining, production, preliminary processing, clearly identifying our market niche and negotiating offtake contracts with HPQ processing firms. To this end we have contracted a series of bench-scale sorting, processing and beneficiation trials by two leading international HPQ specialist firms to optimise product quality and price for the Company’s quartz. Results from these trials should be available to the Company before the end of 2022.

We also plan to be producing and selling HPQ feedstock within the next 12-18 months. The Company has secured a preliminary offtake agreement to supply a minimum of 5000 tonnes of HPQ feedstock per annum to Jiangsu Yangshan Silicon Materials Technology Co Ltd in China.  Finalising product specification and pricing for that offtake will be a priority.

The Company has a longer-term ambition to build a full beneficiation and refinement plant in northern Queensland and thereby to participate in the highest value parts of the HPQ market. Utilizing the funds raised pursuant to the Prospectus we will commence preliminary planning for such a venture.

Greentech holds 650km² of contiguous exploration ground near Mount Isa with numerous quartz veins identified throughout. The Company’s tenement package is also prospective for copper, cobalt, gold, vanadium and phosphate.  Recent exploration within the vicinity and on an adjacent mining tenement, has provided increased confidence in the potential for iron-oxide copper gold (IOCG) mineralisation within Greentech’s EPM’s.  The Company intends to advance exploration for these commodities, as well to expand the HPQ resource inventory. 

An independent report on the global HPQ market predicts demand for refined HPQ products to increase by over 50% in volume and by 90% in value during this decade, against the backdrop of an increasing number of government initiatives to promote green energy and tackle climate change. The report predicts that the main growth will be in the solar photovoltaic cell market.

The Board and executives have significant expertise and experience in mineral exploration, project development and mining, with specific expertise in industrial minerals and the HPQ business, as well as in corporate governance and financing. The Team has the capacity, diversity, and motivation to advance the Company’s business ambitions in this exciting sector.