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Andromeda Metals Ltd.
Summary
| Project: | Poochera | |
|---|---|---|
| Deposit: | Poochera | |
| Location: | Australia | |
| Commodities: | Aluminium-Iron-Silica-Titanium | |
| Date: | 6/1/2020 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 1-6-2020: Andromeda Metals Ltd. announces a Pre-Feasibility Study report for its Poochera deposit at the Poochera project. PFS results incl. post-tax NPV (8%) of A$511M & IRR of 135%. Andromeda Metals Limited (ASX: ADN, Andromeda, the Company) is pleased | |
| Resources: | ||
| CP/QP: | [Overall Report]: Not stated (,Not stated) | |
| ABSTRACT: | Andromeda Metals Limited (ASX: ADN, Andromeda, the Company) is pleased to announce the results of a Pre-Feasibility Study (PFS) for a proposed kaolinised granite open-cut mine and site wet-processing facility at the Carey’s Well deposit located on the Poochera Halloysite-Kaolin Project on the Eyre Peninsula of South Australia. The PFS builds on the highly positive Updated Scoping Study (USS) released in April 2020 (refer ADN ASX announcement dated 6 April 2020 titled “Wet-Processing delivers improved economics for Poochera Halloysite-Kaolin Project”) and reinforces the potential for the Poochera Halloysite-Kaolin Project to be a long-term supplier of high-quality halloysite-kaolin product able to meet a growing global demand from ceramics industry manufacturers and hence provide significant cash flows for Andromeda and its joint venture partner Minotaur Exploration Limited (ASX: MEP, Minotaur). The PFS is based upon an initial phase of mining kaolinised granite as Direct Shipping Ore (DSO) and toll wetrefining overseas to generate early cash flows that will be used to fund construction of an onsite wetprocessing facility and associated infrastructure during the second year of operation. Production is then scheduled to convert to onsite wet-processing to remove the majority of the contained quartz sand in the mined kaolinised granite and produce concentrated kaolinitic product that is shipped in bulk as filter cake for final toll wet-refining overseas in order to produce a premium bright-white halloysite-kaolin product. | |
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