Wallbridge strikes definitive custom milling agreement
TORONTO (miningweekly.com) – Wallbridge Mining, which last week made the decision to develop its flagship Broken Hammer copper/platinum group elements project near Sudbury, Ontario, on Monday reported that it had struck a definitive custom milling accord with Northern Sun Mining.
Under terms of the agreement, TSX-listed Northern Sun would process Broken Hammer ore at its Redstone mill in Timmins, Ontario, and would be responsible for handling and milling the ore.
The one-year accord was based on a minimum of 800 t/d and milling was expected to start on June 30. The Redstone mill would generate both a gravity concentrate and a flotation concentrate, which would then be conveyed to copper smelters or a refinery for further treatment.
Wallbridge reported that it had now drawn the remaining C$1.25-million of its C$2-million credit facility with Callinan Royalties Corp and would use those proceeds for the initial capital requirements of the Broken Hammer project.
A mining contractor was expected to mobilise within the next two weeks and construction would start shortly thereafter.
The total capital cost to build the Broken Hammer openpit had been estimated at about C$1.04-million, including a 10% contingency.
The openpit mining was expected to be complete within 10 to 12 months at an average daily rate of about 800 t/d.
Wallbridge holds a large package of properties in Sudbury, including Broken Hammer and had entered into joint ventures with big platinum companies, such as UK-listed Lonmin and South Africa's Impala Platinum.
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