Name of the Project
Platina scandium project.

Location
New South Wales, Australia.

Project Owner/s
Platina Resources.

Project Description
A definitive feasibility study (DFS) has confirmed the technical and financial viability of constructing a simple, low strip ratio, opencut mining operation and processing facility producing scandium oxide at Platina.

The project will be developed in stages.

Stage 1 involves small-scale scandium oxide production of 20 t/y.

Stage 2 involves increased scandium oxide production to 40 t/y by upgrading the processing train.

While not studied in the DFS, there is potential to produce cobalt, nickel and high-purity alumina.

The site layout and design consider an additional Stage 3 expansion, with a second parallel processing train to meet expected market growth for scandium.

While considered for planning, Stage 3 is not part of the DFS assessment.

Based on the current resource estimate, the project has a mine life of 30 years.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project generates an estimated after-tax net present value, at an 8% discount rate, of $166-million and an internal rate of return of 29%, with a payback of 5.3 years.

Capital Expenditure
Stage 1 capital expenditure is estimated at $48.1-million and Stage 2 at $11.1-million.

Planned Start/End Date
Not stated.

Latest Developments
In a significant step to progress the Platina project, Platina Resources has signed a memorandum of understanding (MoU) with metals leader Traxys Europe to jointly assess scandium production and market development from the Platina project, in New South Wales.

Under the terms of the MoU, Traxys will assist Platina in developing a strategic product, market and marketing plan, and in arranging funding for the Platina scandium project.

In return, Traxys will be granted long-term exclusive marketing and distribution rights to the scandium products produced by Platina.

Key Contracts and Suppliers
Ausenco Services (process design, capital and operating cost estimates, compilation of the DFS report); Element 21 (scandium solvent extraction and refining); ATC Williams (residue storage and geotechnical); RW Corkery & Co (environmental and permitting); Measured Group (mine planning); MCD Geo (financial modelling); and CM Group (scandium market analysis).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Platina Resources MD Corey Nolan, tel +61 7 5580 9094 or email admin@platinaresources.com.au.