Barra's cobalt plans take further shape

BARRA Resources has been getting the good cobalt news in the past week or so, with both the metallurgy and resource at its 50%-owned Mt Thirsty project near Norseman in Western Australia pointing towards development.
Barra's cobalt plans take further shape Barra's cobalt plans take further shape Barra's cobalt plans take further shape Barra's cobalt plans take further shape Barra's cobalt plans take further shape

Drilling at Mt Thirsty

The 34 million tonne resource (grading 0.11% cobalt and 0.5% nickel) is now JORC 2012-compliant, and with circa-90% in the indicated category, and a mining reserve is on the way with completion of prefeasibility work.

And metallurgical results late last week showed recoveries of around 85% for cobalt and 35% for nickel are achievable from the atmospheric leach process.

The increase in recoveries has reportedly been achieved without and significant additions to the expected capital cost, which at around A$211 million (based on earlier scoping numbers), is a fraction of the high pressure acid leach processing route.

Speaking at the RIU Explorers Conference, Barra managing director Sean Gregory said the plan to produce a mixed sulphate product from Mt Thirsty was a "strategic" one, and based on the rationale of the company sticking to what resource sector companies in Australia are typically best at - exploring and mining - rather than going down the "white lab coat" route and producing separate sulphates from further processing.

Mt Thirsty is jointly owned with Conico.

Barra started the current year with $2.3 million cash.

Shares in Barra were up 3% to 3.5c in morning trade capitalising the company at $19 million.

topics

loader