https://www.miningweekly.com

Whundo generates first revenue for Artemis

7th June 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Artemis Resources has generated its first revenue from the Whundo copper project, in Western Australia, with a load of copper oxide ore trucked to the Whim Creek copper solvent extraction-electrowinning plant under a supply deal with Blackrock Metals.

Artemis in March signed a deal with Blackrock Metals to supply an initial 50 000 t of copper oxide, at 1.5% copper, with the ore supplied from the mine’s stockpiles.

First copper oxide ore supply had initially been targeted for April, but Artemis chairperson David Lenigas said on Wednesday that this was delayed owing to Blackrock requiring adjustments to its existing Whim Creek permits to import outside copper ore.

“We have a lot more copper oxide material sitting at surface at Whundo and we will now look to expand and extend the existing ore sales contract with the aim of increasing our net cash flow,” Lenigas said, adding that Artemis was expected to generate net revenue of A$100 000 a month from the current ore sales agreement.

The next oxide stockpiles up for sale consisted of some 30 000 t of ore, grading 3.9% copper and Artemis was expecting "significantly more" than A$6/t for this material.

The Whundo mine is one of the Fox Radio Hill assets being bought by Artemis from Fox Resources, in exchange for A$2-million in cash and the issue of 20-million Artemis shares.

Edited by Creamer Media Reporter

Comments

Showroom

Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.211 0.247s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: