Melior approves Goondicum restart

THREE years after its last attempt, Melior Resources believes the stars have aligned for Queensland’s Goondicum project with the ilmentite market having improved, although the operations will be undertaken without proven reserves or a feasibility study.

Melior approves Goondicum restart Melior approves Goondicum restart Melior approves Goondicum restart Melior approves Goondicum restart Melior approves Goondicum restart

Goondicum.

Melior has announced the fourth restart, with plants to commission the operation in November.
 
The Goondicum ilmenite-apatite mine has eaten through around US$120 million in the past, so the TSX-V-listed junior says it does not have reserves to the NI 43-101 standard or a prefeasibility study to reduce technical and economic risks. Instead it is relying on a 2016 preliminary economic assessment that outlined the project was economically attractive with an after tax rate of return of 178% and a net present value of $52.8 million.
 
Since late 2016, sulphateable ilmenite prices have improved by almost 300% on their 2015 lows making a restart of Goondicum "a very attractive proposition", Melior said.
 
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