- R3D Resources (R3D) receives an independent review of its metallurgical testwork to produce copper sulphate at its Tartana project in Queensland
- The report from Element 25 details a timeline of when the company will need to bring alternative copper sources online to maintain constant copper sulphate production
- It is estimated around 2000 tonnes of copper sulphate pentahydrate is easily available and the margin from this production would comfortably cover plant refurbishment costs
- The plant refurbishment work is continuing, with a focus on documenting operating and safety procedures
- Shares are trading eight per cent lower at 20 cents each at 3:14 pm AEST.
R3D Resources (R3D) has received an independent review of its metallurgical testwork to produce copper sulphate at its Tartana project in Queensland.
The report from Element 25 detailed a timeline of when the company will need to bring alternative copper sources online to maintain constant copper sulphate production.
It was estimated around 2000 tonnes of copper sulphate pentahydrate was easily available and the margin from this production would comfortably cover plant refurbishment costs.
Future copper sulphate pentahydrate production is anticipated to be underpinned by a resource upgrade at the Tartana project, with upcoming assays to be analysed.
The plant refurbishment work is continuing, with a focus on documenting operating and safety procedures.
CEO and Managing Director Dr Stephen Bartrop said he is pleased with how operations are progressing.
“Work on the restart is progressing well and the combination of firming offtake demand and the receipt and interpretation of the assays for the supergene pit resource drilling will determine the ramp-up schedule,” he said.
Shares were trading 16 per cent lower at 20 cents each at 3:14 pm AEST.