- Strandline Resources (STA) wraps up its third shipment of heavy metals concentrate (HMC) from its Coburn mineral sands project in Western Australia
- This means the company has exported more than 25,000 tonnes of HMC for over $25 million since starting commercial production on November 18, 2022
- The latest shipment of 10,000 tonnes of HMC is valued at around $11 million
- The company says it has also produced additional HMC, which is being stockpiled for feed into the mineral separation plant (MSP) and for future sales
- Shares in STA are up 1.35 per cent and trading at 37.5 cents at 10:40 am AEDT
Strandline Resources (STA) has completed its third shipment of heavy metals concentrate (HMC) from its Coburn mineral sands project in Western Australia.
The 10,000-tonne shipment of HMC is valued at around $11 million.
It means the company has now exported more than 25,000 tonnes of HMC for over $25 million in revenue since starting commercial production on November 18, 2022.
The price of its latest shipment was slightly higher than the previous two, signalling the strengthening market of the global mineral sands market.
Strandline Managing Director Luke Graham said the sale laid a “strong foundation for the year ahead”.
“The ramp-up is proving highly successful, particularly given the early stage of the process,” Mr Graham said
The company said it produced additional HMC, which is being stockpiled for feed into the mineral separation plant (MSP) and for future sales.
The MSP is designed to separate the valuable minerals into their final product streams of premium zircon, ilmenite, rutile and zircon concentrate. Strandline said the products would be sold to leading global customers in Europe, America and China.
“Ore feed rates to the WCP of around 3000 tonnes per hour, zircon and titanium mineral recoveries of more than 97 per cent and 81 per cent, respectively, and HMC product grades of more than 94 per cent heavy mineral all demonstrate the rapid progress being made,” Mr Graham said
“The quality specification of the +94 per cent HMC being produced by the WCP is perfectly in line with the design parameters of the MSP.
“This bodes well for MSP ramp up and production of Coburn’s final product streams over the coming months,” Mr Graham added.
Strandline expects its next shipment to occur in March 2023.
Shares in STA were up 1.35 per cent and trading at 37.5 cents at 10:40 am AEDT.