PERTH (miningweekly.com) – The share price of ASX-listed King River Resources increased by nearly 14% on Thursday as the company announced plans to broaden its product offering from the Speewah speciality metals project, in Western Australia.
The announcement comes after the successful production of high purity alumina (HPA) from Speewah.
King River is currently conducting metallurgical precipitation testwork at the Speewah project to produce vanadium pentoxide, titanium dioxide and iron oxide products, with the company also targeting other high value speciality commodities such as HPA, magnesium oxide and vanadyl sulphate.
“The board is most encouraged by this initial HPA precipitation test result, which has the potential to add a material new revenue stream to the Speewah project,” said King River chairperson Anthony Barton.
“Steps are currently being made to try and include aluminium and magnesium in our Joint Ore Reserves Committee resource statements to enable these potential future revenue streams to be included in prefeasibility studies.”
A prefeasibility study of Speewah is currently under way and is examining a number of process routes to extract these commodities.