- Strandline Resources (STA) completes its sixth and largest shipment of heavy mineral concentrate (HMC), valued at $12 million
- A total of 57,000 HMC has been exported by STA since it began commercial productions last year at its Coburn mineral sands project in Western Australia
- HMC products contain critical rare earth elements (REE), including zircon, titanium and monazite, generating a total revenue of $60 million
- Strandline aims to continue dispatching its HMC product at a rate of one shipment per month
- STA shares are up 1.64 per cent, trading at 31 cents at 10:40 am AEST
Strandline Resources (STA) has completed its sixth and largest shipment of heavy mineral concentrate (HMC) carrying 11,000 tonnes, valued at $12 million.
STA has exported a total of 57,000 tonnes of HMC since beginning commercial productions at its Coburn mineral sands project in Western Australia last November.
The company’s HMC product contains critical rare earth elements (REE), such as zircon, titanium and monazite.
Despite experiencing some commissioning-related issues, including equipment failures and plant availability, STA conducted mineral processing at the wet concentrate plant throughout all of May.
The company’s shipments have garnered total revenue of $60 million, providing working capital for STA to ramp up its operations at Coburn.
Strandline has announced that part of its production ramp-up process will include equipment advancements and better plant availability, as well as enhancements to mine planning.
Additionally, STA plans to increase its HMC mineral recoveries through final product streams at its developing mineral separation plant (MSP).
Strandline aims to continue to dispatch its HMC product at a rate of one shipment per month, and intends to provide details of these shipments in its quarterly reports from the start of the new financial year.
STA shares were up 1.64 per cent, trading at 31 cents at 10:40 am AEST.