Clean TeQ Holdings Provides Sunrise Project Update

Clean TeQ Holdings Limited provide an update on the progress the Company is making toward development of the Clean TeQ Sunrise Project (Project), one of the world’s largest undeveloped cobalt resources outside Africa.

Definitive Feasibility Study Update

The Company’s technical team is making excellent progress toward completion of the Definitive Feasibility Study (DFS) for the Clean TeQ Sunrise Project, which remains on track for delivery in June 2018.

The Company is working to deliver a DFS which captures and reflects significant value from increasing metal production and building flexibility in the process plant to respond to stronger metal prices. This follows extensive optimisation work on the Pre-Feasibility Study completed in 2016, and the subsequent resource update announced on 9 October 2017.

To enable this increase in production rates, the DFS is assessing the following changes to the Project design criteria and scope:

  • Increasing the nameplate capacity of the refinery to 7ktpa cobalt and 25ktpa nickel to maximise production optionality;
  • Incorporating improved operating flexibility into the resin-in-pulp circuit;
  • Enhancing systems and automation to allow for improved remote operability; and
  • Accessing supplemental power from the grid via a tie-line in place of a gas pipeline.

As announced on 23 February 2017, these changes to scope will have an impact on the capital cost estimate. However, higher revenue from increased metal production and stronger price outlook is expected to offset any larger investment in capacity.

As part of the work being conducted for the DFS, Clean TeQ’s technical team has continued to work on optimizing the process flowsheet. This work continues to confirm that Clean iX® ion exchange technology will provide substantial operating and capital cost savings while producing battery grade nickel and cobalt sulphate products at site.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s