Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Strandline Resources (STA) completes 75 per cent of construction for its Coburn mineral sands project in Western Australia
  • The timeline is on schedule and within budget, with first production expected within six months
  • In order to ensure a smooth transition to production, Strandline is ramping up plans for commissioning and other operational requirements
  • It believes it is well placed to take advantage of favourable mineral sands market conditions, with spot prices trading more than 35 per cent higher than assumptions from the definitive feasibility study
  • Shares are trading 5.88 per cent higher at 36 cents each at 1:05 pm AEST

Strandline Resources (STA) has completed 75 per cent of construction for its Coburn mineral sands project in Western Australia.

The timeline is on schedule and within budget, with first production expected within six months.

Encouragingly, the company accelerated a number of construction activities, including the wet concentration plant and supporting infrastructure.

It will now shift its attention to recruitment, with an aim to hire locally, achieve workplace diversity, and ensure indigenous engagement.

In order to ensure a smooth transition to production, the company is ramping up plans for commissioning and other operational requirements.

It believes it is well placed to take advantage of favourable mineral sands market conditions, with spot prices trading more than 35 per cent higher than assumptions from the definitive feasibility study (DFS).

Binding offtake agreements now account for 100 per cent of production.

Managing Director Luke Graham said it is pleasing to see activities progressing according to plan, even when faced with difficult conditions.

“The company is fast closing in on the start of production at Coburn, with strong progress on site and the tailwind of high mineral sands prices,” he said.

Shares were trading 5.58 per cent higher at 36 cents each at 1:05 pm AEST.

STA by the numbers
More From The Market Herald

" Empire Resources (ASX:ERL) records further multi-element mineralisation at Yuinmery, WA

Empire Resources (ASX:ERL) has intersected more multi-element mineralisation at its Yuinmery project in Western Australia.

" R3D Resources (ASX:R3D) to commence drilling in QLD this weekend

R3D Resources (ASX:R3D) is gearing up to commence a drilling program at key copper and zinc…
The Market Herald Video

" DDH1 (ASX:DDH) launches share-buy back

DDH1 (ASX:DDH) has launched an on-market share buy-back program of up to 10 per cent of…
The Market Herald Video

" Lithium Australia’s (ASX:LIT) Envirostream receives first cash rebate for B-cycle scheme

Lithium Australia's (ASX:LIT) subsidiary, Envirostream Australia has received its first cash rebate for the B-cycle scheme.