Australia-based Platina Resources Limited (ASX: PGM) is considering a new extraction technology for scandium at its New South Wales-based Platina Scandium Project (PSP). The initial tests have highlighted the potential of vat leaching as a cheaper alternative to high-pressure acid leaching (HPAL) for scandium extraction.
PGM will advance the trials of vat leaching for scandium extraction, with the second phase of testwork planned to confirm the initial results, as well as to obtain leach solutions for further processing.
The new technology could provide the key to unlocking deals for the Company, which has been targeting customers in Australia, Asia, Europe and the United States to secure production offtake agreements and enable project financing.
PGM stock was inching upward by more than 4% to trade at AU$0.050 on 21 July 2020 (AEST 02:20 PM).
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