Radio Hill costs lower than expected – Artemis
PERTH (miningweekly.com) – An independent review into the newly acquired Radio Hill copper/nickel/cobalt project, in Western Australia, has revealed that the estimated cost to refurbish the existing plant to operational readiness is some A$4.6-million.
A further A$650 000 will be required to install a gravity concentrator for gold, ASX-listed Artemis Resources said on Wednesday.
Artemis acquired the Radio Hill project from Fox Resources for A$2-million in cash and the issue of 20-million Artemis shares.
The asset includes the 425 000 t/y Radio nickel and copper processing plant, a tailings storage facility, administration and maintenance buildings and a fully developed underground mine, which was placed on care and maintenance in 2008.
The project has a nickel/copper resource of 4.02-million tonnes, grading 0.51% nickel and 0.88% copper, with significant exploration upside potential.
“This independent capital cost review to upgrade the Radio Hill plant to full operational status as a copper/nickel/cobalt treatment facility is considerably less than previously anticipated,” Artemis executive chairperson David Lenigas said on Wednesday.
“By adding a gravity gold circuit, this plant could prove valuable in short-cutting the path to commercialistion of Artemis’s Carlow Castle cobalt/copper/gold, Werrianna's gold, and Purdy’s Reward and Silica Hills projects, all of which are situated within a 40-km radius of the plant,” Lenigas said.
The Radio Hill buy was subject to Artemis completing its due diligence and the necessary funding arrangements to pay the A$2-million cash consideration, as well as the company obtaining shareholder approval for the issue of 20-million shares.
All ASX and regulatory approvals were also outstanding.
Comments
Research Reports
Projects
Latest Multimedia
Showroom
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
