AIM-listed Africa-focused nickel miner African Eagle Resources has today announced the selection of what it considers to be the quickest and most cost efficient metallurgical process -atmospheric tank leaching- for its flagship Dutwa nickel oxide project in Tanzania.
The above is an integral part of the process of finalizing the Dutwa bankable feasibility study, which in turn is critical if the company hopes to meet its financial projections, such as the capital pay-back period for example.
The process in question is the result of two years of test work which has determined that Dutwa ore, "allows simplified processing, with atmospheric leach methods resulting in rapid extraction without the need for the challenging and costly high-pressure acid leach technologies that have proven problematic elsewhere."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
A pilot plant work programme of continuous fully integrated testing is in development for final confirmation of the performance of the Dutwa atmospheric leach process flowsheet; the pilot plant will treat ore samples representative of the planned mining schedule at Dutwa.
The Company is in advanced stage negotiations with Australian laboratories that have the ability to perform the pilot plant operation and testing.
As of 16:11pm shares of African Eagle Resources are down by 4.4% to 5.38p.
In the doghouse: hundreds of investment funds are underperforming - is it time to sell?
News The latest Spot The Dog research from Bestinvest reveals 151 funds are failing to beat their benchmark. We reveal the worst performers
By Marc Shoffman Published
Nationwide: House prices creep up for the first time in over a year
Nationwide’s latest house price index reveals property prices are finally rising. Will this pattern continue in 2024?
By Vaishali Varu Published