Carpentaria eyes smaller Hawson development
PERTH (miningweekly.com) – ASX-listed Carpentaria Exploration was considering a smaller start-up operation at its Hawson magnetite joint venture (JV), in New South Wales.
The company told shareholders on Wednesday that a detailed study using the existing infrastructure at Hawsons had confirmed a robust “go forward” case for the project.
The study demonstrated that by matching the project size to the existing spare port, rail and power infrastructure capacity, Carpentaria could gain significant savings in capital costs with only small increases in operating costs, compared with larger-scale operations.
“This is a very exciting result, we know a large-scale case has great potential. However, given the current competitive capital markets, to be able to demonstrate the potential of a smaller, cheaper option that matches available infrastructure and still allows for future scale-up is a real boost for the project,” said Carpentaria MD Quentin Hill.
He noted that the study results also gave the company increased confidence to continue with the current feasibility work.
“Matching the existing infrastructure not only allows for much lower capital costs, it also allows for much faster development timeframes, a major advantage over many similar projects that rely on permitting and construction of extensive, major capital cost, conceptual infrastructure,” Hill said.
Based on the infrastructure matching case, the JV would now be aiming to exploit the soft rock, cheaper grid power and low strip ratios to deliver free-on-board prices lower than comparable projects.
Carpentaria was unable to include any forecast financial information on the project, as Hawson currently had an inferred resource. The company would need to upgrade the confidence level of the resource to at least indicated, before the results could be released to market.
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