Mallee Resources Limited (Myanmar Metals)
Mallee Resources Limited (Myanmar Metals)
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Explorer Mallee Resources has joined the ranks of Australian nickel sulphide producers after making a successful start to the commissioning of the processing plant at its 100%-owned Avebury project in Tasmania.
The company has established ROM stockpiles of about 19,200t, fine ore stockpiles of 2,500t and 58,500t processed to produce 2,045t nickel concentrate.
Explorer Mallee Resources has joined the ranks of Australian nickel sulphide producers after making a successful start to the commissioning of the processing plant at its 100%-owned Avebury project in Tasmania.
New Australian miner Mallee Resources has moved to 24/7 operations at its Avebury nickel sulphide mine at Zeehan in Tasmania as it commences stope production and builds its ROM stockpile to 25,000t, less than four months after it brought the project out of 13 years in care and maintenance.
Commissioning of the processing plant is due to begin next week.
Australian explorer Mallee Resources has made the transition from care and maintenance to operational status at its Avebury nickel mine in W Tasmania, with the first development cuts drilled and blasted and mining commenced.
Mallee has paid the environmental bond and submitted operational plans to the state regulatory bodies following the $A85.9M acquisition of the project near Zeehan from creditors of the failed former owner Allegiance Mining PL.
New owner Mallee Resources is preparing for more drilling to define the next phases of development at the Avebury nickel mine in Tasmania after a review of past exploration data enabled it to post a revised JORC-compliant indicated and inferred resource of 29.3Mt @ 0.9% Ni, 229ppm Co and 321ppm As.
The Australian explorer’s deed of company arrangement to acquire the project for $A85.9M was approved in February by creditors of under-administration privateer Allegiance Mining and executed last month.
Australian-based explorer Myanmar Metals has withdrawn from its proposed acquisition of the Wuntho copper-gold porphyry project in the Sagaing region amid political uncertainty following the military takeover of government.
MYL executed a binding agreement for the $A4M cash+shares acquisition was signed on Jan 21, 10 days before the military arrested leaders including Aung San Suu Kyi.
Myanmar Metals has warned COVID-19 travel restrictions may delay reopening its 51%-owned Bawdwin lead-silver-zinc project in Myanmar, with first production likely in 2023.
While minesite operations are unaffected, and government permitting remains on track for this year, MYL says the inability of potential project financiers and offtakers to make site visits may delay financing and sales negotiations and the start of construction until 2021.
Myanmar Metals is eyeing higher plant throughput rates after an expansion study proposed a change of strategy for the redevelopment of the historic Bawdwin lead-silver-zinc project in Myanmar’s Shan state.
Based on the new study, MYL says the preferred way forward at Bawdwin will be construction of two openpit cutbacks, to finished depths of 270m and 365m, following completion of the planned 220m starter pit. Underground development will remain an option to follow the cutbacks.
Myanmar Metals has begun project financing discussions for its 51%-owned Bawdwin lead-silver-zinc project in Myanmar, structuring the process to minimise delays by allowing due diligence to begin ahead of the scheduled DFS completion in April 2020.
The Australian-based company says it has received strong levels of interest from financiers, metal traders and smelters in the potential world-class project.
Myanmar Metals is reinforcing the status of its 51%-owned Bawdwin project as the globe’s largest primary lead resource by increasing its indicated-inferred mineral resource to 100.6Mt @ 4% lead, 97g/t silver, 1.9% zinc and 0.2% copper. Indicated resources comprise 42% of the total.
Even with the increase, chairman-CEO John Lamb says the company isn’t yet close to defining Bawdwin’s true mineral endowment.