Meanwhile, killing Wednesday as well is Greenvale Energy (ASX:GRV) with happy early results from its liquefaction test program 4 which reportedly support “a long-life” project at Alpha.
With GRV planning a staged approach to bitumen production, Greenvale’s Alpha deposit is currently being analysed on several fronts in preparation for the delivery of a PFS, with these latest early results supporting the initial 100,00tpa bitumen processing plant.
GRV chief executive Mark Turner says the company hopes to increase bitumen production at Alpha to 200,000tpa, potentially positioning the deposit to meet a portion of rapidly growing demand for bitumen and blended products for local supplier and infrastructure needs.
“We are now well and truly at the pointy end of bringing everything together for the Alpha Project PFS.”
“The liquefaction test program 4 is progressing well and delivering very promising results, supporting the design premise for a facility initially capable of producing 100ktpa of bitumen and blended products over a 20-year plant life with significant expansion potential beyond that to 200,000tpa.”
GRV’s added more than 20% near the close.
GRV Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
