Middle Island Resources Limited (ASX:MDI) is an Australia-based entity, which focuses on gold commodity and aspires to benefit from the gold price scenario over the medium to long term.
The Company is exploring golden frontiers with a major focus on its flagship Sandstone gold project, located 11km to the south of Sandstone and 400km to the North-West of Kalgoorlie. The gold explorer acquired a 100 per cent stake in the Sandstone Project in July 2016 from the Receivers of Black Oak.
The project includes two fully permitted Mining Leases that pre-date Native Title and has an existing gold processing plant on site. Since the 1890s, more than 1 million ounces of gold has been produced from the open pit, surface, and underground operations in the Sandstone region.
Middle Island’s primary ambition is to recommission its 600,000tpa Sandstone processing plant (kept on care and maintenance) as early as possible. The Sandstone processing plant is supported by a contracted diesel-generated power plant, laboratory, fuel tanks, mine offices, workshops, and a massive inventory of equipment & spares. The processing plant further includes a CIP (carbon-in-pulp) leach circuit, along with traditional grinding and milling circuits.
Close to the plant, a permitted in-pit tailings storage facility which has about 6 months of capacity and a permitted bore field is also situated. Moreover, a well-maintained airport is also present in the Sandstone region to service FIFO operations. These exclusive features of the processing plant offer the Company an edge over other competitive players.
Besides recommissioning its processing plant, Middle Island intends to consolidate additional deposits & exploration tenure within the broader Sandstone district around the central processing hub. The Company further plans to demonstrate sufficient production, resource & exploration potential to attract corporate investment.
Overall, the Company aims to establish an effective and enhanced production profile through approaches not really explored by many other players in the space.