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Speciality Metals draws another step closer to material commissioning

Published 03-DEC-2019 11:02 A.M.


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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.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

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