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Pure Minerals Ltd.
Summary
| Project: | TECH Project | |
|---|---|---|
| Deposit: | TECH Project | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt | |
| Date: | 4/7/2020 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 7-4-2020: Pure Minerals Ltd. announces a Pre-Feasibility Study report for its TECH Project deposit at the TECH Project project. Updated PFS results for TECH project. Pure Minerals Limited (ASX:PM1) (“PM1” or “the Company”) and its wholly owned subsidiary | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Boyd Willis (Independent) | |
| ABSTRACT: | Pure Minerals Limited (ASX:PM1) (“PM1” or “the Company”) and its wholly owned subsidiary Queensland Pacific Metals Pty Ltd (“QPM”) are delighted to provide the results of an updated PreFeasibility Study (“Updated PFS”) for the Townsville Energy Chemicals Hub (“TECH Project”). The updated PFS is a revision of the December 2019 PFS (see ASX announcement 9 December 2019), incorporating the following changes QPM has undertaken sensitivity analysis to run the financial analysis of the PFS using previous study estimates and current spot prices. Whilst commodity spot prices are currently weakened, even with these inputs, the TECH project remains robust, which is greatly encouraging. With the incorporation of the HPA refinery, QPM has added significant value to the TECH Project with comparison of the Updated PFS to the December 2019 PFS detailed below The TECH Project has a value-add business model, processing imported, high-grade lateritic ore to extract valuable metals. These metals are then refined to generate higher value products. Battery manufacturers and ultimate end users are seeking long term, reliable supply of battery chemicals, produced with environmentally and socially sustainable practises. The TECH Project can meet these objectives by becoming a significant supplier of nickel sulphate, cobalt sulphate and HPA. | |
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