LONDON (Alliance News) - Strategic Minerals PLC has sold its first copper cement from the Leigh Creek mine, it said Friday, weeks after first production.
Strategic announced production from the Mountain of Light processing facility at Leigh Creek in South Australia had begun in mid-April, in the form of copper cement.
The firm has now sold five tonnes, and Strategic said following the sale production from heap leach pads continues to meet expectations. It hopes to produce between 150 tonnes to 180 tonnes of copper cement from existing pads.
Managing Director John Peters said: "This first sale of high grade copper concentrate, in the form of cement, firmly establishes Leigh Creek Strategic's second cash generating project."
"The initial sale, whilst relatively small, demonstrates the board's commitment to test all aspects of Leigh Creek meticulously prior to launching a full scale re-start of operations."
"The current re-start activities have provided the management team with valuable insight into operational techniques at Leigh Creek and will form the blueprint for the larger production activities at Paltridge North and Rosmann East," Peters continued.
"These are currently the focus of a feasibility study which is due for completion in the second half of 2019. Full operational production is scheduled for commencement late 2019 or early in 2020."
Shares were 4.2% higher on Friday morning at a price of 1.72 pence each.
Strategic Minerals (SML)