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Ann: Mt Cattlin Commissioning Continues Ahead of Schedule-GXY.AX, page-6

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stokdog

6,154 Posts.

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17/10/16

09:32

Post #: 19899554
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Originally posted by yanlin ↑

MT CATTLIN COMMISSIONING CONTINUES AHEAD OF SCHEDULE
Galaxy Resources Limited (ASX: GXY) (“Galaxy” or the “Company”) is pleased to provide the following update for its Mt Cattlin lithium and tantalum project in Ravensthorpe, Western Australia. Commissioning Update Mt Cattlin construction and commissioning continues ahead of the previously announced completion schedule. Water commissioning of the feed classification, tantalum beneficiation and tailings circuits are now complete. The feed classification and tantalum beneficiation areas are now online. Pumping control loops have been finalised, enabling water to be pumped to the circuit from the water services area, through the processing plant and back to the tailings thickener, with the tails system discharging water to the tailings dam. The dense medium separation (“DMS”) circuit has reached 98% mechanical completion with water commissioning due to commence before the previously targeted date of 6 November. Wet commissioning of the reflux classification area has commenced in line with schedule and is due for completion before the end of October. Critical path installation works that remain are progressing ahead of schedule and a planned water commissioning of the complete processing plant is expected to commence well ahead of the previously targeted date of 20 November. As a result, relevant work relating to preparation for ore commissioning has now commenced. In the near term, onsite construction crew manpower is expected to halve as their work nears completion. Vendors will begin mobilising to site in preparation for ore commissioning and construction teams will begin handing over the final stages of the processing plant to operations.
Primero Group will remain on site to assist Galaxy with commissioning until the plant is at steady state production.
Progress Update – Period Ending 15 October 2016
 Water systems tuned and adjusted
 Thickener commissioned and tails systems pumping to tailings dam
 Feed preparation and fines building commissioned, level control adjusted and all pumps commissioned on water
 Feed classification area commissioned and feed verified to tantalum beneficiation circuit
 Rectification of reflux area punch list
 Air systems for reflux area completed and commissioned  Water commissioning commencement for reflux building
 DMS mechanical completion progression from 80% to 98%
 Filter belt construction progressing on schedule
Planned Milestones – Period Ending 29 October 2016
 Finalise piping of the DMS in preparation for punch listing
 Prepare DMS building for construction handover to operations for water commissioning
 Completion of water commissioning of the reflux area
 Completion of sequence water commissioning from feed preparation, feed classification and tantalum beneficiation circuits to the reflux building and tailings thickener
 Completion of filtration area in preparation for commissioning

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At the front of the Lithium Production Curve.

I expect a reversal and a move north towards the recent Valuations as per Bell Potter and Ballieu Holst.

GXY Price at posting: 33.0¢ Sentiment: Buy Disclosure: Held
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