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Mineral Commodities Ltd.
Summary
| Project: | Munglinup | |
|---|---|---|
| Deposit: | Munglinup | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 11/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-11-2017: Mineral Commodities Ltd. announces a Scoping Study report for its Munglinup deposit at the Munglinup project. Scoping study results incl. 9yrs LOM, total CAPEX $47m. Mineral Commodities Ltd (ASX: MRC) (“MRC” or “the Company”) is pleased to ann | |
| Resources: | Resource, M+I): 3.624Mt @ 15.3% TGC for 555Kt contained at project | |
| CP/QP: | [Overall Report]: Adriaan du Toit (AEMCo Pty Ltd.) | |
| ABSTRACT: | Mineral Commodities Ltd (ASX: MRC) (“MRC” or “the Company”) is pleased to announce that subsequent to the recent execution of the Farmin and Joint Venture Agreement between MRC’s wholly owned subsidiary MRC Graphite Pty Ltd and Gold Terrace Pty Ltd for the Munglinup Graphite Project (“Munglinup” or “Project”), located in the global Tier 1 Mining Jurisdiction of Western Australia. The completion of the scoping study (“Scoping Study” or “Study”) and the resultant preliminary economics underpin a near term project development profile. As a result, MRC has already commenced a comprehensive metallurgical testwork and drilling program required for a Pre-Feasibility Study with delivery anticipated in January 2018. The Scoping Study referred to in this announcement has been undertaken to assess the potential viability of an open pit mine and graphite processing plant constructed onsite at Munglinup. It has also been completed to optimise and schedule the five discrete yet proximal graphite deposits and provide a Production Target. It is a preliminary technical and economic study of the potential viability of the Munglinup Graphite Deposit. It is based on low level technical and economic assessments that are not sufficient to support the estimation of Ore Reserves. Further metallurgical evaluation work and appropriate studies are required before MRC will be in a position to estimate any Ore Reserves or to provide any assurance of an economic development case. The Scoping Study is based on the material assumptions outlined below. These include assumptions about the availability of funding. While MRC considers all the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Scoping Study will be achieved. | |
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