A Microcap Teaser Solution In Advance !!
(Australian stock exchange CLQ, OTC pinks CTEQF).
CleanTeQ is sure to be the answer to future teasers you will be reading about from resource gurus, To save you all the trouble of solving them, I decided to write this article.
My portfolio was grotesquely overweight in gold and silver positions, and in moments of anxiety I thought it would be a good idea to diversify and take a few positions in something other than gold mines, royalty companies, Mongolian exploration companies, and small-cap copper miners with major operations in the Democratic Republic of Congo.
Thus I made a small speculation in CleanTeQ, solely on the basis that mining titan Robert Friedland was the Chairman, and CleanTeQ was the only resource company I could find that seemed to be in a position to mine scandium, a very rare metal that sells for a couple of thousand dollars a kilo.
My due diligence was so slight that I was embarrassed to emphasize my position to the readers at Stock Gumshoe. We are supposed to study these things a little more than I did for CleanTeQ. And after entering at 50 cents, the stock promptly dropped to 35 cents or so, making me glad that I did not look foolish by publicizing my position.
As the weeks went by, I started to find more information on the company that I should have found out beforehand. This was partly accidental, partly from other Gumshoe readers, and partly from new announcements and company news that occurred after I took a position. But the findings were all very positive, and because the company is so interesting I thought it warranted its own thread apart from the hard asset thread which I moderate.
I have a full long position and high hopes. And I thank Secretsquirrel, Griffin, Larry McKenna, and several others who helped fill in the missing pieces of the puzzle.
Below are my findings, opinions, and summary on CleanTeQ Holdings:
BUSINESS MODEL CleanTeQ is a hybrid company based with three bases: scandium mining and production, cobalt mining and production, and water purification. This seems like an odd combination, but as you will see, it is not. It is a stroke of genius. And I will explain why we should care about scandium and cobalt.
(1) The company is starting production of the Syerston mine, the world’s only scandium mine;
(2) The company will also produce significant amounts of cobalt as a co-product to the scandium;
(3) The company has a large-scale water purification technology, which will target municipalities,
Industrial operations with waste water problems, and mines, which also have water problems
PROSPECTS FOR THE THREE SEGMENTS
(1) Scandium is a very rare metal that usually occurs in only small amounts that are not economical to mine. It is mostly available as a by-product and the market is opaque, usually between private parties. Scandium has very beneficial applications in aerospace, aviation, and technology, but has not been widely applied because there is not a sufficiently reliable supply of it.
(2) Cobalt is essential in many batteries. Lithium gets all the investment press, but a majority of the battery formulations need cobalt, which is rare compared to lithium. Cobalt has a similar supply situation as scandium, it is mostly a by-product and is not commonly a prime mining target in and of itself. But demand for the electric energy market is growing rapidly and cobalt demand is growing and will continue to grow accordingly. Supply chains on cobalt are iffy.
(3) Water purification is a pressing need throughout the world. Cities with lots of people, industrialized places with lots of factories, or mines with waste water, all have a real and pressing need for large scale water purification. I think most people can accept this premise of widespread demand without a lot of documentation.
HOW DO THESE SEGMENTS RELATE TO EACH OTHER ? I cannot get too technical about the water purification technology, but I will try to explain what I understand, and how it relates to the scandium and cobalt operations. They call it Continuous Flow Ionization. Ionization is not a proprietary technology per se, but CleanTeQ has developed a way to implement ionization in a continuous feed, automated loop that improves volume, improves economics, is reasonably priced for installation, and can be custom-modified to specific waste problems. It can be used in conjunction with other filtration techniques. Further, it can be modified TO EXTRACT CERTAIN SUBSTANCES from the feed waste water. This is done by modifying the resins that are used in the ionization process.
Now it so happens that CleanTeQ has developed resins that can extract scandium and cobalt from waste water. So they potentially will have commercial sources of rare metals from the by-product waste of their water purification process !
HOW CLOSE IS THE WATER THING TO REALLY HAPPENING ? It is happening. CleanTeQ has signed a memorandum of understanding with a major Chinese municipality to implement their technology. There is a joint venture, 55% Chinese/45% CleanTeQ. Once the first one is up and working, China has a mind-boggling potential for water purification. For their teeming urban centers and for their mining and industrial locations, shall we say the potential is very large ?
CleanTeQ has 100% of rest of the world. CleanTeQ is closed-mouthed about other commercial sources, but they let on that they have been in contact with the likes of GE, Dow, and other big hitters. They state a pipeline target of $100 million by 2020; I predict they will do much better.
HOW CLOSE IS THE COBALT THING TO REALLY HAPPENING ? Very close. Battery useage is soaring and is the strategic target of many governments, corporations, and environmental groups. Batteries need cobalt.
HOW CLOSE IS THE SCANDIUM THING FROM HAPPENING ? This will take a while because the applications are high tech, with long lead times, and there is only one scandium mine in the world (CleanTeQ’s newly commissioned Syerston mine). CleanTeQ intends to develop the scandium market by being a reliable source of supply, and by driving the price down.
CleanTeQ will have viable margins with scandium prices up to half of current prices.
To give you an idea, the Russians made a few MIGs with scandium/aluminum alloys. They were faster, lighter, stronger. An addition of 0.5% scandium to aviation aluminum strengthens the frame, removes the need for riveting, reduces weight, and makes repairs easier. . The Russians dropped it because of costs; and Boeing and Airbus will not use it without a reliable source of supply. But there is about to be a reliable source of supply: CleanTeQ.
WHAT ABOUT IP PROTECTION ? I believe the IP and know-how moat is sufficient. CleanTeQ holds a perpetual license from a high-level Russian research organization that provided some of the foundation technology. I am not a patent lawyer and a lot of the know-how will be proprietary, not patented. CleanTeQ has been at this for over ten years, I think the barriers to entry are sufficient.
MANAGEMENT Totally a plus. Robert Friedland is the Co-Chairman and CEO, he has 20% of the company, great credibility and clout with the Chinese, and an unbelievable track record in mining. Sam Reggall is the other co-chairman. I know little about him, other than from my observations of him on an Australian investment show that aired last week. He was impressive.
MONEY AND FINANCES I don’t think there is anything at all to worry about. Friedland must be worth billions, the Chinese are in, and the concept has enormous potential.
Sources: as I mentioned, information is scant. My sources were the CleanTeQ website, presentations and and interviews with Friedland and Reggall, and the sketchy information on the brokerage sites. Nothing you cannot find on your own.
Long CleanTeQ
This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.
FYI Cobalt Miners News For The Month Of June 2017
Matt Bohlsen @ SA
Summary
Cobalt spot price news – Cobalt spot prices rose strongly to reach US$26.31 by June 22.
Cobalt market news – BNEF says “a battery boom sends demand for cobalt soaring more than 30-fold by 2030.”.
Cobalt miner news – China Molybdenum completes takeover of Tenke Mine.
https://seekingalpha.com/article/4083699-cobalt-miners-news-month-june-2017?app=1&uprof=46&isDirectRoadblock=true
$ECSIF long
xpost
https://www.bloomberg.com/news/articles/2017-06-08/cobalt-upstarts-eye-glencore-s-turf-for-244-billion-ev-spoils
my favorite copper play looking at an possible over 50% IRR
http://www.excelsiormining.com/images/Presentations/2017/June_21_2017.pdf
Not sure if this posted previously?
Ellis Martin Report with Sprott Global’s Sam Broom, 22nd April 2017.
https://youtu.be/phHlysOTyf8
Mentions briefly CleanTeQ and the colbalt market extensively.
Informative bloke IMO….
Nice Thanks ..I went to Broom’s website also
Broom seems like a pretty sharp guy and is surely one of the strong team members at Sprott that Rick Rule refers to occasionally when deflecting credit
for Sprott’s success. They are out of the closet in terms of CleanTeq, referring obliquely to Robert Friedland’s interest in the cobalt sector, specifically in Australia. Their other picks they are keeping to themselves for the time being.
fyi Lithium Miner News For The Month Of June 2017
by Matt Bohlsen @ SA
Summary
Lithium spot and contract price news – Lithium prices rose again, albeit very slightly.
Lithium market news – Oversupply fears spark a sell off of most lithium miners globally.
Lithium company news – “Mineral Resources is shaping up to be a significant supplier of lithium.”
note: under marketing news “”1000 km range for electric cars thanks to a new battery concept. Under the brand name EMBATT,” In addition “New mining deal to boost lithium production in Argentina. Introduced by President Mauricio Macri,”
https://seekingalpha.com/article/4083894-lithium-miner-news-month-june-2017?uprof=46&isDirectRoadblock=true
xpost
http://www.mining-journal.com/events/conferences/sprott-natural-resource-symposium-vancouver-canada-july-25-28/
$CTEQF Clean TeQ ’s Syerston project could produce cobalt for more than twenty years
https://gallery.mailchimp.com/6b234a59bc4b0bc555986937a/files/1a8b3349-baf0-42f7-9d6b-459c3467d57d/Northern_Miner_June2017.pdf
$CTEQF long
Red mud
Depending on the quality of bauxite ores, producing 1 t alumina basically generates 1.0–2.5 t red mud.
By the year of 2000, the alumina industry had produced about 2 billion tons of red mud and it is estimated to reach 4 billion tons by 2015 at its current production rate.
Sc content of red mud is 240g/t, produced by the RUSAL refineries.
Sc recovery rate by carbonisation is 23%. Also uses furnace gases.
Why this option is not considered?
Thanks for posting George. From what I’ve read the ion process has been around for a while, but hadn’t been used in metal recovery. Hendrixnuzzles (HN) found Clean TeQ and presented it to us. When I first evaluated I thought it was about water recovery. The more you look at this company and the others that Robert Frieland is into, you realize some of the things being worked on are pretty leading edge and will take time to work out. In addition RF might not be done he has made comments about storage batteries, and vanadium. Tesla might start thinking about sticking to cars. Vanadium redox flow battery has a 30% longer life cycle than Lithium battery. Since this is on the leading edge just trying to track down the information can be tough. One of the great about Gummies is they chip in and more eyes the better.
Battery and metal technology…in Friedland’s interests a lot of the information is buried or inaccessible because the parties are private.
We need to make quite a lot of inferential reasoning from scraps here and there, and very low-key statements in their public announcements.
Information that vanadium is a real issue in batteries has been revealed in such announcements by Friedland companies, wherein it has been stated that vanadium as related to battery technology is a target of a joint Friedland/Chinese company.
https://soundcloud.com/northern-miner/episode-65-the-uber-technology-special-ft-cobalt-lithium
CleanTeq
I listened to this podcast as soon as it got published, but I struggled to share it via my Podcast-app, so great that you got it out, rubberworm! it’s interesting that more and more people is starting to focus on CleanTeq. She also doesn’t seem to know that it’s listed in the US….and amazingly few people manage to see the full potential (usually analyst covers only a small part of the company; here only cobalt/nickel.
Long CTEQF and my biggest position.
$FTSSF – Cobalt One to Merge with First Cobalt
https://firstcobalt.com/2017/cobalt-one-merge-first-cobalt/
Any thoughts on this?
The fact that the process removes the need for cobalt is not only a significant cost-saver, but will send a sizeable ripple through the tech-metals market.
https://investorintel.com/sectors/technology/technology-intel/nano-one-change-lithium-space/
$NNOMF now long starter @ .54 Thank you secretsquirrel
Website: https://nanoone.ca/
Summary of Material Change
The company announced that commissioning of the pilot plant is complete
and that scaled-up production of lithium ion cathode materials that meet Nano
One’s processing and battery capacity targets has been demonstrated.
http://nanoone.ca/nano-one-demonstrates-pilot-plant-first-production-lithium-ion-cathode-materials/
Nano One Demonstrates Pilot Plant with First Production of Lithium Ion Cathode Materials
http://nanoone.ca/nano-one-demonstrates-pilot-plant-first-production-lithium-ion-cathode-materials/
Interim financials at 3/31/17:
http://www.sedar.com/GetFile.do?lang=EN&docClass=5&issuerNo=00006073&issuerType=03&projectNo=02632914&docId=4125985
Nano One…interesting and is similar to CleanTeQ insofar as I see it as a technology play in materials. What is most important here IMO is the timeframes that will be required to bring Nano One’s technologies to market.
I remain somewhat shy of lithium investments, the market seems like the wild west in terms of potential investment targets. Small position in Galaxy at the moment but is is not a conviction stock or sector for me.
Placed my buy on NNOMF last night to execute this AM, ….and glad I did. Wish I’d known of them earlier but, pleased to get in asap. Been holding $SCTFF for a long position. Comments? Feelings? Sentiments?
NNOMF…I am not the one to comment, as I have vacated the lithium space and I believe Nano One’s application is targeted towards lithium.
I do like some of the stocks that are technology plays on metal extraction, CTEQF, obviously; and more recently UURAF. in which I have a small position. These are really technology plays.
Cobalt will still have its traditional uses in the steel industry,gas turbines/jet engines and high speed cutting/drilling tools but it seems that the expected great use in batteries would not materialize.
Lithium sources would also be impacted as lithium carbonate is found in brines and some salt beds and does not need complex manufacture, only recovery. It is often found in waste water from oil and gas wells. That might fit with CleanTeq but is only a guess on my part.
Cobalt/lithium demand and CleanTeQ…at the moment the valuation of CleanteQ appears to be mostly as a cobalt/nickel prospector. There is little or no credit for the scandium, nickel, water purification, and materials recovery aspects of the company, and its advanced development in these sectors . So I am not disturbed by new developments that would someday make lithium more viable. Nickel will still be needed. The scan/alu alloys will be developed.
Cobalt demand will not be eliminated. And the water purification and materials recovery aspects will be unaffected.
Long CleanTeQ
Batteries have come a long ways since the days of the model ‘T’. The original auto battery was comprised of pairs of glass cells that held the acid and plates. The batteries had to be rebuilt often and there were auto parts stores that rebuilding batteries was their primary income. That is where Lithium-ion and Redox Flow batteries are today. There will be improvements in these batteries for years to come. Nano One and Biosolar are working on the anode and cathode for Lithium. Unienergy Technologies has a patented electrolyte for flow batteries that adds 70% more capacity. Keep your eyes open and post.
PS Don’t forget;
https://www.stockgumshoe.com/2016/07/microblog-storage-of-electricity-batteries-big-image/
Thanks all, particularly Ben.
Cannot post direct link or cut n paste the document, so here’s the ASX link.
CleanTeQ Ann: Changes to the Board Directors.
http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=CLQ&timeframe=D&period=M6
She looks a good sound move….
http://www.otcmarkets.com/ajax/showNewsReleaseDocumentById.pdf?id=26213
$CLQ – CleanTeq
Initial Director’s Interest Notice
Name of Director Stefanie Loader
Date of appointment 1 July 2017
http://clients3.weblink.com.au/pdf/CLQ/01870047.pdf
The above post by rubberworm – Final Director’s Interest Notice
Name of director Peter Leonard Voigt
Date of last notice 24 November 2016
Date that director ceased to be director 30 June 2017
http://clients3.weblink.com.au/pdf/CLQ/01870044.pdf
Peter Voigt
FOUNDER AND EXECUTIVE DIRECTOR
Peter Voigt established Clean TeQ in 1990 and up to his appointment as CEO was the companys Chief Technology Officer, responsible for all research and development activities and the negotiation and management of overseas licences.
Peter is a biochemist, with extensive experience in product development, technology commercialisation, and developing complete engineering solutions. Prior to forunding Clean TeQ, Peter held product and technology development roles with Arnotts and Uncle Bens™. Peter has a Bachelor and Masters of Applied Science (Chemistry) from Royal Melbourne Institute of Technology.
Best2All – Ben
Ucore $UURAF (USA otc, also on Toronto Venture Exchange)
…a competitor for metals extraction for CleanteQ….Revolution brewing in metals extraction. It seems that mining is about to undergo a profound change based on new technology. Both Ucore and CleanTeQ will benefit by making mining more efficient and less wasteful.
Ucore was mentioned by Byron King in his Rickard’s precious metals letter.
It is not an “official” pick by King or Rickards.
It is another extraction technology investment, and it looks very interesting to me, I have taken a position around 23 cents. Market cap is $80 million.
There are several youtube and video interviews with their CEO available from their website and other sources.
The Ucore technology is based on “ligands”, which are specially designed molecules that want to bind with target molecules. Thanks to my experience with Dr. Kss’ thread, my eyes did not glaze over when I heard the descriptions of the process. The process is based on the development of a particular ligand for a particular target molecule. They have off-the-shelf ligands already formulated for many desireable and rare metals, such as cobalt, vanadium, etc.
They plan is to sell installations and licenses, they are not planning on going into the mining extraction business on their own.
I have done only cursory research on Ucore, but I like what I am seeing. They claim patents and have deep access to intellectual property held by IBC Advanced Technologies, a US private company. They have already a pilot plant
so they are past the “bench” phase of process development.
The installations for Ucore are about the size of a container or two. They can be added onto existing convention extraction circuits and they claim very low capital costs compared to conventional chemical solvent extraction installations. Byron King/Rickards alludes to the fact that they already are partnered with a major Canadian oil shale producer.
I do not see Ucore as a “threat” to Cleanteq for several reasons, although it is possible that they will compete in certain situations. For one thing, CleanTeQ is being valued primarily as a nickel/cobalt/scandium mining project. For another, CleanteQ’s water purification business would be unaffected by
Ucore.
Basically I regard both as tech investments in mining.
Long CleanTeQ. Long Ucore.
$UURAF…checking the archives at Stock Gumshoe, Ucore was subject to some discussion five to seven years ago. Their situation now is quite different and more developed as they have constructed working facilities that demonstrate the viability of the process.
Long $UURAF
https://www.bloomberg.com/news/articles/2017-06-27/more-precious-than-gold-copper-a-better-hedge-against-inflation
Copper is Friedland’s number one metal in terms of potential…for the coming era he is calling it “The King of Metals.” Friedland is increasingly being quoted by analysts and commentators.
Ivanhoe has been my only position with exposure to copper. Everything about it is solid, or outstanding, except for the politics in the DRCwhich may get dicey in September. Would like to find another good option or two for copper just in case.
HendrixNuzzles, Excelsior Mining was mentioned by someone recently. $MIN on the TSE. I have no position in $MIN and am not intending to take one as my portfolio is balanced right now (have it on my watchlist though). Since the person posting was very positive about this stock, it may be worth a look.
Kind regards, Chocolate.
http://www.excelsiormining.com/
Godiva Chocolatier….thanks, did look, does look interesting.
No position. Interesting that their extraction technology is relatively new…”in situ” solution. Similar to that of UEC for uranium. Recent mining technology.
http://business.financialpost.com/markets
EQUITIES IN THE MARKETPLACE
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As of 13/07/2017 3:59 PM ET | All market data delayed
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After permits should move good. Excelsior
Materials Technology…with CleanTeQ, Nano One, and Ucore there seems to be a new sector being birthed…mining and extraction technology.
It is interesting to consider that “fracking” is actually the predecessor to this, Friedland comments that a drill hole for oil is actually a “mine”.
Narrowing resource choices…it is useful sometimes in investing to look for reasons to eliminate choices. This applies to investment sectors as well as individual stocks.
I have decided to liquidate my very minor position in the lithium space (Galaxy) as I do not foresee adding more capital to the lithium space, and my position in it is not big enough to move the meter. Others are welcome to continue discussion of lithium even though it is not of further interest to me at the moment.
Opinions and positions subject to change.
$CTEQF – Highest volume ever? Volume (Heavy Day) 751,858
Clean TeQ Holdings Ltd, Melbourne Ordinary Shares (Australia) (QX)
Long CleanTeq and Gummunity!
Thank you HendrixNuzzles and Larry McKenna!
I just noticed that volume. Came here to see who else did.
Was it one buy? Or many? Looks like closing ahead of ASX which is unusual – someone buying a large position
Here is a little info on progress in lithium/sulphur battery development;
http://www.pnnl.gov/science/highlights/highlight.asp?id=4614&groupid=756
Much higher energy density than Lithium Ion at lower cost.
$CTEQF…market cap approaching $400 million.
Strong in the ASX Australian market Monday.
Long CTEQF
HN
Bid 0.68 converts to 0.516. Doesn’t seem to be higher
Someone in the US is going after this stock
John- based on what?
based on super high volume, and divergence to Oz on the upside.
Market Cap $311mm USD as of this am.
Hedy1234…I must have noticed a valuation in Australian dollars.
Interesting that the Chinese put $80 million Australian for 16% of the company. Anyway it seems pretty inexpensive to me.
HN-no doubt value is low.
Chinese purchase translates to MC of approx. 380mm $USD today.
We talk about how the company is under-valued, that the water division and the scandium aspect is pretty much valued at zero, which is anomalous. Its anomalous because those things definitely have value, you can’t value the scandium at zero, that’s obviously wrong, and there are infinite tech companies that have a valuation based on their potential, way before they earn a nickel from their tech, clean teq’s tech is far along enough now that it has clearly some value over zero. So most of us see this as a great price for a lot of potential revenue, and we are comfortably patient to let this play out over time.
However, and especially for those like me who are fully loaded, there is a reason to wish this stock gets valued more fairly very quickly. Because we have an A$750 million dollar mine to build, and my impression is some of that money will be raised thru a stock offering, and therefore a dilution. And the lower the stock price, the greater the dilution. The cost of the mine is double the present market cap of the whole company.
I wonder if there is any thought to spinning off the syerston project from the water division. That could be a way of getting a more fair overall valuation, I’ve seen other companies do that for this very reason.
We discussed the issue a little bit previously. My opinion is that no such spin-off will occur in the near future. The pieces of the company are closely tied together by in by virtue of the technology. Syerston is a showcase and laboratory for the CleanTeQ process.
What I think will happen is that the more regular income from the water division will eventually be recognized and provide a decent floor valuation metric for the analysts and conventional financial types. The way it is now, the whole company is being valued like a speculative cobalt/nickel mining developer.
Psst…wanna buy some cobalt? Just don’t tell the auto guys!
https://www.reuters.com/article/us-cobalt27-ipo-ahome-idUSKBN19Q2FC
Nice increase overnight in Australia; up 9.3%
Yes very good move, word is getting out there.
I imagine some volatility on the SP till a few announcements arrive, hoping not but as it’s been yo yoing around current form says that’ll be the case.
Back to above a Canadian Dollar again soon would be nice as I’m fully loaded.
Breakfast these days is a cuppa tea, fruit and how’s CleanTeQ overnight….
Hahaha… Your breakfast sounds exactly like mine! Since it’s my biggest position I need to watch it very closely.
Yes, very true ; I’m just waiting for news like a battery deal with the Japanese or the Chinese taking a large part in Cleanteq Water.
There are prolonged periods of no news with Friedland’s companies…then BAM !…good news comes.
Be patient. These negotiations and contracts take a long time. It is not like putting a few quarters into a machine and pulling the knob for a candy bar.
Clean Teq is +15% of my portfolio and my third largest position. So me too keeps an eye on it every day. But like HendrixNuzzles says this is a long play and patience is our friend here. Personally I keep a buy and hold attitude here for a term of 4 to 5 years. My expectation is that by then SP will at least have tripled, probably more (personal forecast).
Not really breathtaking news, but just fyi: I contacted Goviex Uranium ($CVE: GXU), the uranium company of Robert Friedland’s son Govind that has multiple projects in Africa. There have been talks already between Goviex and Clean Teq. Yet, since Goviex is early stage they could not tell me if or when they will implement Clean Teq ‘s technology. Decisions will be made later on as Goviex projects develop (Personally I think there is a reasonable chance that eventually they will get Clean Teq involved as it is ‘in the family’)
Belgian Chocolate…CleanTeQ methods are one family jewel but I think I-Pulse is the crown jewel, and we are not likely to hear much about it since it is privately owned in an RF vehicle. Nice family business.
The acronym of the company has clues…Gov-i-ex or govi-ex
could be Govind I-Pulse Exploration, or Govind Exploration. If RF has something up his sleeve using I-pulse for exploration it is only logical that such technology would be available to Govind.
Checking their share registry, 49% of Goviex is held by strategic players and insiders:
Toshiba, Denison Mines, Ivanhoe Industries (not Ivanhoe Mines), and Cameco.