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Mineral Commodities Ltd.
Summary
| Project: | Munglinup | |
|---|---|---|
| Deposit: | Munglinup | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 5/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-5-2018: Mineral Commodities Ltd. announces a Pre-Feasibility Study report for its Munglinup deposit at the Munglinup project. PFS results incl. post-tax NPV of A $139 (8%), IRR of 48%, 9yr LOM at project. Mineral Commodities Ltd (ASX: MRC) (“MRC” or “t | |
| Resources: | (Reserve, P+P): 3.440Mt @ 15.9% TGC for 548Kt Graphite | |
| CP/QP: | [Resources]: Adriaan du Toit (AEMCo Pty Ltd.) | |
| ABSTRACT: | Mineral Commodities Ltd (ASX: MRC) (“MRC” or “the Company”) is pleased to announce it has completed a Pre-Feasibility Study on the Munglinup Graphite Project confirming the project’s excellent potential as a robust, low capex and low opex operation. The results confirm the technical and economic viability of the project and MRC is now committed to advancing the project through a Feasibility Study (FS) towards development. The operation will have a nominal throughput of 400ktpa and produce an average of 54.8ktpa of high purity graphite concentrate. The project involves the development of several small open pits with a flotation plant to concentrate graphite ores. Majority of the ore will come from the Halberts Main pit and supplemental feed from the 4 satellite pits. Mineralisation is open in all directions. The graphite is hosted in gneiss metasediments, within the saprolitic zone, and as such it is anticipated at this stage that no drill and blast will be required. Processing is via a multi-cleaner stage flotation plant with attritioning between each cleaner stage. As the ore is weathered, no primary crushing will be required. Tails will be thickened and report to a conventional, on site centerline tailings storage facility. Graphite concentrate will be bagged and shipped out to various markets. The PFS is based on a Mineral Resource of 6.03Mt at 11.0% TGC using a 5% TGC cut-off. The previously reported Mineral Resource of 3.62Mt at 15.3% TGC used a 10% TGC cut-off1 . The Mineral Resource is inclusive of Ore Reserves. The estimated Ore Reserve is 3.44Mt at 15.9% TGC. Executive Chairman Mark Caruso said, “The Munglinup Graphite Project continues to meet expectations as studies progress through the various stages thanks to many positive aspects of the project, particularly the deposits’ excellent grades. The PFS demonstrates that the Project is robust and economically justifiable even at very low pricing scenarios and without the requirement for downstream value-add processing that many other Projects require to get acceptable economic returns. We are very pleased with the Project’s rapid progress and opportunities that have been recommended in the PFS to further improve the Project economics in the next stage of study.” | |
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