Speciality Metals draws another step closer to material commissioning

By Trevor Hoey. Published at Dec 3, 2019, in Mining

Speciality Metals International Limited (ASX:SEI) through its Joint Venture with CRONIMET Australia has successfully completed the commissioning of the water circuit on the new and refurbished plant at the Mt Carbine Project in Far North Queensland.

New piping circuits have been completed in the plant constructed by the JV and a new piping circuit has been installed on the existing concentrate plant that has been refurbished and refitted with new equipment on site.

Water has been put through the system and declared commissioned by the plant engineers.

Water has been put through the system and declared commissioned.
Water has been put through the system and declared commissioned.

On track for material commissioning

Discussing the significance of this development in terms of offsetting previously lost time, executive chairman Russell Krause said, “I am very pleased with the hard work that the team has put in on site daily to achieve our goals and make up some previously lost time.

‘’The project timeline is once again in a strong position with material commissioning imminent.

‘’This progress is positive for the project and shareholders alike.”

Indeed, it is a vital time for shareholders in Specialty Metals as the company works towards hot commissioning and concentrate production in developing the world-class tungsten project which consists of the Mt Carbine Tungsten Mine and the Iron Duke and Petersens Lode Exploration Permits.

As the company has drawn closer to production and the generation of revenues, its share price has responded accordingly, up five-fold in the last 12 months.

Final commissioning and a return to production are near term share price catalysts.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

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