Cobalt highlighted with Owendale scandium

WITH cobalt currently de rigueur, Platina Resources has taken the opportunity to point out its Owendale scandium project in New South Wales contains 13,200 tonnes of the stuff.
Cobalt highlighted with Owendale scandium Cobalt highlighted with Owendale scandium Cobalt highlighted with Owendale scandium Cobalt highlighted with Owendale scandium Cobalt highlighted with Owendale scandium

Overlooking Platina's Owendale project area

Michael Quinn

The point was made as Platina updated the resource at Owendale to highlight what it said was a high-grade component of 700,000 tonnes at 650 parts per million scandium and 0.14% cobalt – “the highest combined scandium and cobalt mineralisation discovered in a laterite to date”.

Platina claimed the high grade cobalt mineral resource’s significant scandium content was in contrast to the nearby Robert Friedland-controlled Clean TeQ’s Syerston deposit, 7km south of Owendale.

Cobalt has become a market thematic of late for juniors on its use in lithium ion batteries – with sources outside problematic locations like the Democratic Republic of Congo in demand – while scandium is a high value product used in various technological and high-end applications (and featuring a micro-market in terms of tonnage).

Platina is working on completing a feasibility study at Owendale early next year.

The company started 2016 with $A2.6 million cash.

Shares in Platina were trading down 12% to 15c in early trade, capitalising the company at $32 million.

The stock was at 3c 12 months ago, and reached 17c earlier this week.