Northland Capital partners view: The increased level of metallurgical studies have confirmed previous expectations in regards to the grade of the concentrate, as a result, we have not updated our forecasts. Plant engineering is now underway and the Company is confident it will achieve first production by the end of 2016.
High recovery confirmed by additional metallurgical work | ||||||||||||||||||||||||||||||||||||||||||||||||||
n Extensive test work on samples from La Parrilla has demonstrated 71% metal recovery this is a 14% increase on baseline testing, confirming that the coarse nature of the mineralisation allows efficient gravity recovery.
n X-Ray ore sorting could be used to increase recoveries to >93% treating a two sized feed stream. X-Ray sorting is expected to be included in the phase 3 development. n The Company expects to produce a concentrate with 66% WO3 and arsenic levels below 0.15% with all other deleterious elements below analytical detection limits. n No change to forecasts, rating or price target. |
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Source: Northland Capital Partners Limited. * Northland Capital Partners acts as Joint Broker † assumes a €16m debt finance package is secured, †† assumes a €9m debt finance package is secured
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