aum sx column technology proven highly efficient

Anyone following this one?????????

I was told to buy yesterday. Dont know too much about the company but found the last announcement interesting.

Cheers.

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AUSTRALIAN MINING INVESTMENTS LIMITED
AUM SX COLUMN TECHNOLOGY PROVEN HIGHLY EFFICIENT
Mt Norma produces Copper Sulphate Pentahydrate Crystals
The Directors are pleased to announce that the AUM SX Column Technology has
successfully been proven with the crystallization and vacuum filter section operating
and with copper sulphate being produced at the Mt Norma Plant in North West
Queensland.
Now that the AUM SX Column Technology has been proved highly efficient for
selective copper recovery the Company needs to go to the next step of
commercialization by constructing the larger 50,000 tonne vats to supply solution for
the plant in addition to the existing 5,000 tonne test vats.
The Company’s aim of constructing a demonstration plant and proving the technology
has now been completed. The proof of the technology now opens the gates to
assisting solve the massive acid mine drainage problems around the world. There is
currently no technology or treatment method viable for the recovery of copper from
acid mine drainage, and this is causing massive environmental problems globally.
Further Opportunities for the Proven Technology
The Company proposes to approach the Queensland State Government in relation to
the acid mine drainage flowing from the Mt Morgan Copper Mine in Queensland. The
AUM SX Columns can remove all copper from the Mt Morgan flows and assist in
remediating the acid mine drainage. There are thousands of acid mine drainage flows
from old copper mine mulloch and waste heaps.
The Company is awaiting the Tasmanian Government to pass the Mt Lyell Pollution
bill to allow AUM to commence remediation of the acid mine drainage flow of
500,000 litres per hour containing copper and other metals flowing from the Mt Lyell
Mine in Tasmania. The Company expects a result within the next 28 days.
The Company has commenced discussions with a major copper producer regarding
installing the SX Columns as a secondary plant to recover low grade copper being
pumped to tailings dams after primary copper removal. The AUM SX Columns can
recover at less than 0.1 gram per litre of copper by installing the columns in the
discharge line from the primary plant. The capex and operating costs are expected to
be very low such that the additional copper recovery could add significantly to the
profitability of copper mining operations.
Fungicide Market – A Value Adding Strategy
Due to the excellent quality of the copper sulphate pentahydrate crystals being
produced by the new technology, the Company is developing a value adding strategy,
utilizing the AUM SX Column Technology, of converting copper sulphate to a
fungicide for sale into the Australian Domestic Copper Fungicide packaging market.
Product for this market is currently sourced solely from overseas. The total import of
the packaged domestic market is $39 million per year for duty purposes prior to taxes
and retail markup. This does not include the commercial bulk agriculture market,
which is far greater.
Yours faithfully
Wayne McCrae
Director