Highlights:
- Flotation test work, based on an average life of mine production grade, predicts increased nickel
recovery up from the 2007 SRK Consulting (SRK) prefeasibility study (SRK’s study) figure of 75.9%
to 77.8%. Copper recovery has also increased significantly from 72.9% to 90.4% - Cobalt recovery is up from 57.0% to 68.6% which was not utilised in the SRK study economics.
- Locked cycle tests indicate substantially higher recoveries for platinum and palladium, 73.9% and
82.4% respectively, compared to SRK’s study recovery projections which were not included in the
SRK study cash flow model. Previous recoveries for platinum and palladium were 51.1% and 40.8%,
respectively - Test work also indicates the potential to reduce the amount of contained MgO reporting to the
concentrate and directly any penalties payable to the smelter - Achieving the combined increase in metal recovery and reduced penalties would ultimately result in a
lower cost per pound of metal produced
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