New Producers Ride the Copper and Platinum Waves
Sydney, Sep 26, 2011 AEST (ABN Newswire) - At the 160th Sydney Mining Club on Thursday October 6th at 12.30 p.m. Finders Resources (
ASX:FND) Chairman Russell Fountain & Platinum Australia (ASX:PLA) MD John Lewins.
It's always a treat to watch new ASX-driven enterprises as they crank up new production around the globe and this month we have two strong contenders offering the market growth performance in a pair of hot metals.
A founder of Finders Resources, Russell Fountain has seen the Wetar Island heap leach and SX/EW operations jumping the hoops. Now prudently heading for a 7,000 tpa of cathode copper Expanded Demonstration Plant capacity, the two-pit project is heading for a respectable 25,000 tpa capacity with a capital tag of $143m. The makeup capacity will be achieved with the relocated Whim Creek plant. Over on the highly productive Sumatran Gold Belt, which includes the Martarbe project (+3.7 Moz) lays the Finders Ojolali and Jambi oxide gold deposits, looking likely to fall over the line into production if exploration continues to deliver at its current rate.
Swapping continents we travel with John Lewins to South Africa and WA where the diminutive market-cap, Platinum Australia sits on whacking resources of PGM totaling over 10Moz equity accounted to PLA if our maths is right! The Smokey Hills mine on the Bushveld is putting out 96,000 oz 4E per annum in concentrates. Then 330km west of Johannesburg an eight-pit resource of 6.7Moz is next on the menu.
And there is the Rooderand Project and Panton sill here in Australia. So it all boils down to an emerging producer heading for 340,000 oz PGE in a year of production in Africa alone in a $92m company. And if you've been having time off from watching PGE prices, both platinum and palladium have been pretty closely mirroring the gold ski jump. Not to be missed!
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