Australian Mines
(ASX:AUZ) has highlighted in its Q1 FY2018 report the 100 per cent acquisition of the Sconi project in north Queensland, which superseded the previous joint venture agreement of acquiring a 75 per cent interest.
Project development is progressing with the flagship cobalt-nickel-scandium project, as the company focuses on completing a Bankable Feasibility Study expected for April 2018.
The mining company completed trial mining to produce 30 tonnes of ore from the Sconi project for processing by a demonstration plant in Perth.
The miner’s processing plant will deliver cobalt sulfate, nickel sulfate and scandium oxide products from the mine to potential off-take partners.
The company also confirmed high-grade cobalt mineralisation at its Flemington Project this quarter.
Shares in Australian Mines
(ASX:AUZ) are trading just over 42 per cent higher to 13 cents.
