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Korab Resources Ltd. (ASX:KOR) announced that a prefeasibility study (PFS) into the company’s magnesite direct shipping ore deposit estimates that a capital injection of around AU$4 million will be required for the project’s development.
Korab Resources Ltd. (ASX:KOR) announced that a prefeasibility study( PFS) into the company’s magnesite direct shipping ore deposit estimates that a capital injection of around AU$4 million will be required for the project’s development.
As quoted in the press release:
This study assessed capital and operating costs of Winchester project supplying a direct shipping ore crushed on site to 25mm and screened to separate fines (minus 6mm). No additional processing of magnesite rock was evaluated. The output from the quarry would consist of crushed magnesite rock with a waste stream consisting of waste rock and fines which would be stored on site. The estimated ratio of coarse saleable magnesite rock to fines was 80%. This study showed that there may be a market for magnesite fines in agriculture and feedstock production; however any potential revenue from sale of fines has not been included in this study.
Click here for the full Korab Resources Ltd. (ASX:KOR) press release
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