- Strandline Resources (STA) completes its first shipment of heavy mineral concentrate (HMC) from its wholly-owned Coburn mineral sands project in Western Australia
- The shipment held roughly 6500 metric tonnes of HMC product, containing valuable minerals of zircon sand, titanium ores and rare earth monazite
- The shipment has a value of around $6.5 million, with sales proceeds expected to be received later this week
- The company says production and haulage of HMC product to the port storage facilities is continuing, with preparations underway for a second shipment in January 2023
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- Strandline Resources shares are up 2.5 per cent to 41 cents at 11:40 am AEDT
Strandline Resources (STA) has completed its first shipment of heavy mineral concentrate (HMC) from its wholly-owned Coburn mineral sands project in Western Australia.
The shipment, holding roughly 6500 metric tonnes of HMC product, was loaded at the Port of Geraldton, containing valuable minerals of zircon sand, titanium ores and rare earth monazite.
The shipment has a value of around $6.5 million, with sales proceeds expected to be received later this week.
This first shipment of HMC is part of the ore commissioning and ramp-up of Coburn’s Wet Concentration Plant (WCP).
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The company said production and haulage of HMC product to the port storage facilities was locked in to continue, with preparations already underway to co-ordinate a second shipment of HMC in January 2023.
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“Achieving production and cashflow is a major milestone for Strandline and sets us up for our next chapter of strong growth,” Strandline Managing Director Luke Graham said.
“We are now preparing for a second shipment while also completing construction and commissioning of the MSP, which will in turn drive further increases in cashflow.”
Strandline said its focus will remain on increasing the production throughput of the WCP towards design rates, improving plant availability and optimising product recoveries.
Strandline Resources shares were up 2.5 per cent to 41 cents at 11:40 am AEDT.