JOHANNESBURG (miningweekly.com) – The estimated cost to complete the chrome tailings retreatment project at the Crocodile River Mine (CRM), in the North West, has increased by 16.6% to R191.2-million, Eastern Platinum (Eastplats) reported on Friday.
This follows after Eastplats and its subsidiary Barplats Mines undertook a cost-to-complete exercise on the project.
Construction of the project is well under way, with the significant components of the chrome processing circuit on site. Construction teams are well advanced with the civil construction to build the structures for the circuit.
Reporting on activities at the mine during the quarter ended March 31, Eastplats on Friday said it expects the updated platinum group metals feasibility studies on its tailings resource at CRM to be completed in the next few months.
The company, meanwhile, reported that it had cash and short-term investments of $21.3-million and working capital of $25.6-million available for completion of the project and other operations.
Net operating cash flow used during the quarter was $1.4-million, compared with $2.3-million in the same period of 2017, an improvement of 39%.