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Platina Resources Ltd.
Summary
| Project: | Owendale | |
|---|---|---|
| Deposit: | Owendale North | |
| Location: | Australia | |
| Commodities: | Scandium-Platinum-Nickel-Cobalt | |
| Date: | 12/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 18-12-2017: Platina Resources Ltd. announces a Optimisation Study report for its Owendale North deposit at the Owendale project. Optimisation study results reduce CAPEX by 59%. Platina Resources Limited (ASX: PGM, “Platina” or the “Company”) is pleased to | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Boyd Willis (Boyd Willis Hydromet Consulting) | |
| ABSTRACT: | Platina Resources Limited (ASX: PGM, “Platina” or the “Company”) is pleased to announce the results of an independent study by Simulus Engineers ‘Simulus’) on the plant size options for the Company’s 100% owned Owendale scandium, cobalt and nickel project in central New South Wales. Simulus were engaged to assess several small plant throughput scenarios and to quantify options to initially build a smaller Stage 1 process plant that can be readily expanded to meet growth in the scandium oxide market. The analysis conducted by Simulus has highlighted a preferred plant scale which will be used within the upcoming Definitive Feasibility Study (“DFS”). The key outcomes of the Simulus optimisation study are provided in Table 1 “It is pleasing to see that capital costs for the smaller plant will allow Platina to develop the Owendale Scandium Project with both lower costs and lower risk, which will result in greater value to existing investors. It has become clear that for the scandium market to develop there will need to be reliable primary sources of scandium. The high grade and size of the Owendale Ore Reserve will place Platina in the best position to capitalise on the market growth that will come from the establishment of a reliable supply.” | |
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