Speciality Metals draws another step closer to material commissioning
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.
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.