Ann: More Positive Results from Metallurgical Testwork at Julimar, page-12

Yes, the results are very positive. Obviously it's a difficult orebody and the mineralisation is quite fine and complex which means they have to grind it fine to liberate the valuable mineral. The recoveries of the precious metals Pd and Pt seem low when you look at the individual Cu and Ni concentrates, but you need to add them together to get the overall recoveries, which are pretty good. The recoveries of Cu and Ni are pretty good also and the fact they were able to produce separate flotation concentrates is a real positive aspect for the project. You can see that the bulk of the Pd and Pt go with the copper concentrate and the remainder go with the Ni concentrate. I would like to see the Cu grade of the Ni concentrate and vice versa because that indicates how well the flotation reagent regime has worked during the separation.
Further work will optimise these recoveries, so it can only get better.
The leaching results are good without being excellent. They will need to try and get the Pd extraction above 80% and this should be possible with further optimisation.
They will need to think carefully about their milling and this will cost a bit, but large operations usually need large mills, so this is not out of the ordinary.
So far, so good. I was a bit worried about them releasing Met results, but now I believe they are going to be fine and all the metals will be able to be extracted at atmospheric pressures...
Well done Chalice.