- Magnum Mining and Exploration (MGU) completes a technical feasibility refresh of its Buena Vista Iron project in Nevada
- The refresh is a fine-tuning of the project’s 2011 feasibility study and includes its recently announced scoping study
- Despite an original aim to target 450,000 tpa of concentrate by operating on a 24/7 basis, productions can be doubled to 800,000 tpa
- The study was conducted by Samuel Engineering under company supervision, which was the same engineer used for the 2011 feasibility study
- MGU shares are up 5.26 per cent, trading at 4 cents at 12:17 pm AEST
Magnum Mining and Exploration (MGU) has completed a technical feasibility refresh of its Buena Vista iron project in Nevada, USA.
The refresh aimed to target a processing flow sheet and engineering design enabling the production of more than 68 per cent iron and less than three per cent silica and aluminium magnetite concentrate from the Buena Vista magnetite resource.
The company recently announced its intention to refresh the project’s 2011 feasibility study to fine-tune both the feasibility study and the recent scoping study.
The technical refresh focused on accessing the highest-grade iron resources for quick production at the lowest possible production cost.
Although the original plan was to target 450,000 tonnes per annum of concentrate production through single-shift processing, Magnum identified that the chosen equipment could operate on a 24/7 basis.
This approach has increased the total potential output to 800,000 tonnes per annum using the same capital.
The study was conducted by Samuel Engineering, under company supervision, the same engineer selected for the 2011 feasibility study.
Meanwhile, the bulk of ongoing work hinges on gaining access to efficient and effective transport, power, and water supplies for future production.
MGU shares were up 5.26 per cent, trading at 4 cents at 12:17 pm AEST.