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WA1 Resources (ASX:WA1) has posted the latest testwork results using its niobium ore, hitting grades of 66.9% at a 99.9% recovery.
The company described the results as “excellent” on Monday, highlighting the refining stage is the “second of three stages in a conventional ferroniobium process flowsheet.”
With concentrate grades of ~70%, the company says it can now use the material it collected in early 2024 to go ahead with the final stage of ferroniobium production.
HotCopper users were bullish on the news – WA1 Resources is the face of the niobium exploring thematic; the stock was once less than $1 a share – it hit $22/sh earlier this year.
“Lots on their plate with multiple balls currently in the air. They are flat out. Us? Well all we gotta do is hold. [Let’s] go,” user Bluesmoke said, indicating strong satisfaction with WA1’s Monday news.
“This is an amazing result for stage 2 on first pass. Stage 3 is the smelting, at first glance it looks pretty straight forward from here,” user Naydoe commented.
At least one user queried on the significance of trace uranium on-site.
“Any issues with the thorium and/or uranium? 181ppm [uranium]….is that good or bad?,” user Blueskybaby wrote.
In return, another user cited information from Sydney-based fund manager Emanuel Datt (of Datt Capital) – “This is well below the 10 Bq/g exemption level for transport (above which Class 7 regulations would apply),” user Aubin wrote.
As for WA1 Resources, ongoing metallurgical testwork continues.
“In parallel, variability and optimisation testwork of the beneficiation stage is ongoing with the aim of demonstrating mineralisation can be beneficiated from a portion of the Luni deposit to support detailed mine planning and other evaluations,” WA1 chief Paul Savich said.
“This refining testwork demonstrates the ability to produce a clean concentrate that will be utilised in upcoming conversion testwork, which will aim to produce a small quantity of ferroniobium end-product.”
WA1’s success is partially based in the way its discovery of the West Australian Luni deposit shook up industry lore – before it came along, the world’s major deposits were largely perceived to be exclusive to Brazil.
WA1 last traded at $14.50/sh.
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