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International Resources company, Platina Resources Limited (ASX:PGM) is engaged in the development of its global portfolio of early-stage precious and specialty metal projects (referring to the figure below) through exploration, feasibility, permitting and into development. Currently, Platina Resourcesâ primary focus is the rapid advancement of its flagship asset, Owendale Scandium, Cobalt, Platinum, and Nickel Project into production.
Platina Resourcesâ Project Portfolio-
More on the recently signed agreement for the Blue Moon Zinc Project may be READ here.
Technology trials seeking to enhance Scandium Project metrics:
Recently on 19 September 2019, Platina Resources announced to the market that the company is carrying out trials with new technologies to achieve a reduction in the capital costs estimates and improve the revenue streams of the Platina Scandium Project (Owendale).
Small-scale vat leaching â Platina Resources is planning to examine the application of a small-scale vat leach technology used for processing of nickel laterite ores to scandium processing, with an objective to establish a smaller, lower cost project and to better align with the low volume demand of the scandium market at present.
Even though more metal recovery is possible with the conventional high-pressure acid leaching (HPAL), it is also a complex technology that demands significantly higher capital.
The company has engaged Brisbane-based Core Metallurgy to conduct leaching trial at atmospheric temperature and pressure where there is a scope for lowering the capital costs.
A Peek into VAT Leaching Process
Initially, tests will be undertaken to determine an effective agglomeration process and subsequently, ~200 kg of ore will be agglomerated for vat leach testing. Vat leaching will be carried out in 150 mm diameter x 2 m high columns over the course of 30 days, while the company will monitor extraction of scandium and impurities alongside. The test work program is aimed at investigating the extent of scandium extraction and acid consumption efficiency, to conclude if the technology would be able to support a small scale first stage commercial operation.
High purity alumina recovery â Initially, Platina Resources had opted for high purity alumina (HPA) extraction from clarified leach solutions derived from scandium recovery in the HPAL plant. However, the recoveries reported from this approach were lower than expected. Therefore, an alternative process technology trial is now being planned to evaluate better recoveries of the aluminium that would be subsequently converted into HPA. Generally, HPA is priced at a premium value and used in the manufacturing of lithium-ion-battery (LIB) separators and sapphire glass.
Platina Resourcesâ Managing Director, Corey Nolan explained in the announcement that the ongoing trials of emerging technologies are being undertaken to ensure that the company develops a project that utilises and makes the most of the high-value metals present in the targeted deposit.
Mr Nolan also added that vat leaching is a small-scale process requiring low cost while also providing for scandium for product development to the market. Subsequently, with the expansion of the market for scandium, Platina Resources would consider opting for HPAL process to deliver improved recoveries of scandium, nickel and cobalt along with an alumina by-product. It would further boost the revenue streams and offset the higher capital costs of the technology.
Platina Scandium Project - Overview
A Definitive Feasibility Study (PFS) was completed in late 2018 demonstrating compelling technical and economic viability of constructing the project, which presents an opportunity for the company to create substantial long-term sustainable shareholder value at a manageable capital cost.
Platina Scandium Project â Key Project Parameters:
Way Forward â Platina Resources is currently progressing with Mining Licence Application (MLA), Environmental Impact Assessment, Development Applications (mine and process plant), as well as securing offtakes and financing for the project. On 9 May 2019, the company informed to have lodged an MLA through its wholly owned subsidiary, Red Heart Mines Pty Ltd with the New South Wales Department of Planning and Environment. Besides, the company is actively working on a scandium off-take marketing program, which is targeting potential customers in the USA, Europe, Asia and Australia, while discussions with various companies are underway.
Stock Performance:
Platina Resources has a market capitalisation of around AUD 7.66 million, with ~ 264.13 million shares outstanding. On 23 September 2019, the PGM stock was trading at AUD 0.029 (AEST: 12:19 PM).
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