With the recently acquired Hylea Cobalt-Nickel-Scandium-Platinum Project (“Hylea” or “theProject”), Riva Resources Limited (“Riva” or “the Company”, soon to be renamed Hylea Metals Limited) holds one of the last laterite occurrences in the emerging Fifield Igneous Province yet to host a JORC 2012-compliant Mineral Resource.
The Fifield region, located some 450km west of Sydney in the Central West of New South Wales is the focus of activities for a number of companies looking to develop Co-Ni +- Sc and Pt operations, with these companies including CleanTeq Holdings (ASX: CLQ, market capitalisation of A$750 million), Australian Mines (ASX: AUZ, A$274 million and Scandium International Mining (TSX: SCY, C$53 million) amongst others. These companies have all seen significant share price appreciation on the back of their Fifield projects, the very positive outlooks for cobalt and the potential for developments in the scandium markets.
