Join our daily newsletter At The Bell to receive exclusive market insights
- Strandline Resources (STA) completes a fourth shipment of heavy mineral concentrate (HMC) worth $11.4 million from its Coburn mineral sands project in WA
- The company’s latest shipment involves 10,120 tonnes, bringing its total exports to 35,000 tonnes of HMC since commercial production began in November 2022
- Additional HMC product is funnelled into STAs mineral separation plant for storage, with the next shipment due in April 2023
- STA Managing Director Luke Graham says the ramp-up of the mine and production facilities puts the company on track to publish FY24 production guidance in the coming quarter
- STA shares are up 9.68 per cent, and trading at 34 cents at 3:05 pm AEDT
Strandline Resources (STA) has completed its fourth shipment of heavy mineral concentrate (HMC) from its Coburn mineral sands project in WA, worth $11.4 million.
The company said it’s moving forward with its steady-state mineral sand production, with the latest shipment totalling 10,120 tonnes.
STA exports currently sit at approximately 35,000 tonnes of HMC since launching commercial production on November 18, 2022.
So far, STA has generated over $36 million in sales revenue, as prices of the valuable minerals contained in HMC shipments proved significantly higher than assumptions made from the Coburn definitive feasibility study in June 2020.
Additional HMC product produced by the company is being funnelled into its mineral separation plant and stockpiled for future sales, with the next shipment due in April 2023.
“Ramp-up of the mine and production facilities is progressing well, putting Strandline on track to publish FY24 production guidance in the coming quarter,” STA Managing Director Luke Graham said.
During March, STA received the handover of its mineral separation plant from contractors.
The company’s operational focus remains on improving equipment and plant availability, with an emphasis based on refining mineral recoveries to final product streams.
STA is an emerging producer of heavy mineral sands with a portfolio of development assets located in Western Australia and within the world’s major zircon and titanium-producing corridor in East Africa.
STA shares were up 9.68 per cent, and trading at 34 cents at 3:05 pm AEDT.
