Jervois holds 100 million shares and 100 million options in Elementos Ltd, with a market value of $0.6 million (as at 17 May 2018 – options unlisted).
Elementos is a focused tin exploration and development company, owning 100% of the Cleveland Tin Project in Tasmania. It has a strong management team headed by major shareholder and Chairman, Andy Grieg, who ran global mining unit of Bechtel for more than 20 years.
Elementos has confirmed the geological model and process flow sheet to facilitate a reopening of Cleveland. Operation is scheduled to recommence in 2019 with a combination of open-cut mining and tailings retreatment to produce tin and copper concentrates, however Jervois is reviewing its strategy regarding tin with view to exit.