https://www.engineeringnews.co.za

Cassini hopes to cash in on cobalt highs

22nd March 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior Cassini Resources has told shareholders that an updated scoping study on its West Musgrave joint venture (JV), in Western Australia, will take the rising cobalt prices into consideration.

Responding to shareholder queries, Cassini on Wednesday said the company had initiated a review of the West Musgrave project in light of the recent rise in the cobalt price and the implications thereof for the project.

The most significant of the West Musgrave opportunities was the large amount of contained cobalt in the Nebo-Babel deposit, with the cobalt to be produced as a by-product of nickel and copper production.

Cassini noted that the Nebo-Babel deposit is estimated to contain some 30 000 t of cobalt.

“The emerging theme of speciality metals associated with electric vehicles and other new technologies has gained substantial support over the last 12 to 24 months,” said Cassini MD Richard Bevan.

“In response to this, we have received significant inquiry from shareholders and the investment community on Cassini’s exposure to cobalt. While Cassini remains focused on developing the nickel and copper resources at the West Musgrave project, the company is well placed to benefit from increasing prices in cobalt.”

Bevan said the company was able to differentiate itself from competitors by already having a large resource that is extractable using conventional processing technologies.

“Our well-defined feasibility and development timeline should provide investors with confidence that Cassini will reap the benefits of rising cobalt prices in the short to medium term.”

Further scoping study work currently under way will include new mine optimisation and financial modelling.

ASX-listed Oz Minerals is earning a 70% interest in the West Musgrave project by sole funding a minimum of A$36-million on development and exploration. The JV agreement includes continued studies on the Nebo-Babel deposit to progress it to a decision to mine, as well as regional exploration spend of up to A$8-million to assist in identifying additional value-adding opportunities.

Edited by Creamer Media Reporter

Comments

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:2.159 2.231s - 156pq - 2rq
Subscribe Now