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Pure Minerals Ltd.
Summary
| Project: | TECH Project | |
|---|---|---|
| Deposit: | TECH Project | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt | |
| Date: | 12/9/2019 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 9-12-2019: Pure Minerals Ltd. announces a Pre-Feasibility Study report for its TECH Project deposit at the TECH Project project. PFS results for TECH project. Pure Minerals Limited (ASX:PM1) (“PM1” or “the Company”) is delighted to provide the results of | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Boyd Willis (Independent) | |
| ABSTRACT: | Pure Minerals Limited (ASX:PM1) (“PM1” or “the Company”) is delighted to provide the results of the Pre-Feasibility Study (“PFS”) for the Townsville Energy Chemicals Hub (“TECH Project”), which was managed by its wholly owned subsidiary, Queensland Pacific Metals Pty Ltd (“QPM”). The PFS was undertaken by lead engineering company Lycopodium Minerals Pty Ltd (“Lycopodium”) with support from other consultants including Boyd Willis Hydromet Consulting (BWHC), Xenith Consulting and Saunders Havill Group. The PFS assessed the development of a battery chemicals refinery in Townsville, processing nickel-cobalt hydroxide produced using the DNi Process™ from ore imported from New Caledonia, to produce nickel sulphate, cobalt sulphate and other co-products. Key outcomes of the PFS are provided in the tables below. PM1 Managing Director John Downie commented, “The macro fundamentals for the nickel sector are highly encouraging on the back of the continued growth of the electric vehicle market. Future nickel demand must be met by the development of new projects, including those where the primary ore source is laterite. Nickel laterite projects have previously faced significant funding hurdles which have prevented project development. This has typically been a result of prohibitive capex requirements for plants that have been scaled up significantly in order to make it economic to process low grade deposits using High Pressure Acid Leach. The PFS demonstrates that despite the smaller scale of the TECH Project, production levels are significant, project economics are attractive and most importantly, the capex hurdle is not insurmountable. We are enthusiastic at the outcomes of this PFS and will continue to pursue the opportunities we’ve identified to improve the economics and sustainability of the project going forward. | |
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