- Strandline Resources (STA) completes 75 per cent of construction for its Coburn mineral sands project in Western Australia
- The timeline is on schedule and within budget, with first production expected within six months
- In order to ensure a smooth transition to production, Strandline is ramping up plans for commissioning and other operational requirements
- It believes it is well placed to take advantage of favourable mineral sands market conditions, with spot prices trading more than 35 per cent higher than assumptions from the definitive feasibility study
- Shares are trading 5.88 per cent higher at 36 cents each at 1:05 pm AEST
Strandline Resources (STA) has completed 75 per cent of construction for its Coburn mineral sands project in Western Australia.
The timeline is on schedule and within budget, with first production expected within six months.
Encouragingly, the company accelerated a number of construction activities, including the wet concentration plant and supporting infrastructure.
It will now shift its attention to recruitment, with an aim to hire locally, achieve workplace diversity, and ensure indigenous engagement.
In order to ensure a smooth transition to production, the company is ramping up plans for commissioning and other operational requirements.
It believes it is well placed to take advantage of favourable mineral sands market conditions, with spot prices trading more than 35 per cent higher than assumptions from the definitive feasibility study (DFS).
Binding offtake agreements now account for 100 per cent of production.
Managing Director Luke Graham said it is pleasing to see activities progressing according to plan, even when faced with difficult conditions.
“The company is fast closing in on the start of production at Coburn, with strong progress on site and the tailwind of high mineral sands prices,” he said.
Shares were trading 5.58 per cent higher at 36 cents each at 1:05 pm AEST.