AUZ - Australian Mines – cobalt / scandium in Qld and NSW.
SP = 10c
SOI = 2.68b
MC = $268m
Three cobalt / scandium projects:
* SCONI project in northern Qld. Average feed grade of 0.11% cobalt and 0.81% nickel for the first 20 years of operation.
* Flemington project in central NSW is adjacent to and a continuation of the CLQ Sunrise deposit
* Early stage Thackaringa project in western NSW (Broken Hill) near COB
Demonstration plant in Perth due for completion in Jan 2018:
* Throughput capacity 2,200kg of ore per day.
* Weekly production target of 67kg cobalt sulphate, 500kg nickel sulphate, 8kg scandium oxide
AUZ raised $20m at 8.5c in oversubscribed placement to international funds in November, receiving applications for $40m in what was intended to be a $10m placement.
