- Perpetual Resources (PEC) has applied for a new mining lease within its Beharra Project in Western Australia
- The mining lease covers 1037 hectares and includes Beharra’s entire ore reserve estimate and the mineral resource estimate
- Excitingly, this marks another significant milestone, following on from the recently upgraded mineral resource and completing a pre-feasibility study
- Perpetual will now conduct various studies to support the mining lease being approved
- It will also commence a feasibility study ahead of making a final investment decision for the silica sands project
- Company shares are up an even 10 per cent to trade at 8.8 cents
Perpetual Resources (PEC) has submitted a mining lease application to the Western Australian Department of Mines, Industry, Regulation and Safety.
The mining lease covers 1037 hectares within Perpetual’s wholly owned Beharra Project in Western Australia.
Mining lease MLA 70/1406 includes the entire area of Beharra’s ore reserve estimate and the recently upgraded mineral resource estimate.
Perpetual Resources considers this lodgement to be a significant milestone and a crucial step to joining other ASX-listed mining producers.
“The mining lease application submission occurs soon after the completion of our highly successful pre-feasibility study which demonstrated a high margin, low capex and strong returning project at Beharra,” Managing Director Robert Benussi said.
Perpetual has completed all the necessary steps for the mining lease application and has begun various studies to support the mining licence getting the tick of approval.
These studies involve testing regional water, flora and fauna, logistics and infrastructure, metallurgical studies and other mining related studies.
Furthermore, the company is preparing to undertake a feasibility study for the Beharra Project ahead of making a final investment decision.
“We remain extremely excited by what lies ahead for our shareholders as we continue to progress this compelling mining project,” Robert concluded.
Company shares are up an even 10 per cent to trade at 8.8 cents at 11:47 am AEST.