Rafaella Resources Limited (ASX:RFR) is a global developer and explorer of world-class mineral deposits.
Rafaella is currently fast-tracking its wholly-owned Santa Comba tungsten project in Spain and has recently agreed to acquire high-grade nickel-copper sulphide projects in Canada.
Rafaella also owns the highly prospective McCleery cobalt and copper exploration project in Canada and an equity stake in Westar Resources Ltd, a private gold exploration company with a portfolio of assets held in Western Australia.
The Santa Comba project enjoys considerable industry support, having received a 5-year offer of offtake from a leading global German-based consumer, H.C Stark Tungsten GmbH (‘HC Stark’). Furthermore, the Company secured the strategic investment of Transamine Trading (‘Transamine’), the world’s oldest privately held commodity trader based out of Geneva. Transamine also agreed to provide logistical support and offtake for 100% of the tungsten and tin concentrate over a 3-year period, greatly assisting the Company in its early commissioning period. The tungsten offtake is to be structured as a back to back trade through to an end user, such as H.C. Stark.
The Santa Comba project is located 60km from the nearest deep-water port by sealed road and has substantial infrastructure already in place, including grid power, a partially completed processing plant, workshops and offices, and a tailings dam.
Rafaella recently announced a substantial increase in total mineral resources and the estimation of maiden measured and indicated resources at the Santa Comba Project. The company is currently looking to finalise offtake arrangements for its tungsten concentrate as it concludes its feasibility study.