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Tartana Minerals Limited (ASX: TAT) (the Company), is pleased to announce that it has completed the first shipment of Copper Sulphate Pentahydrate (Copper Sulphate) from Tartana’s newly recommissioned Copper Sulphate plant.
Highlights:
- First Copper Sulphate shipment completed from Tartana to offtake partner Kanins
- Payment received and start of ongoing cashflow for Tartana
- Further shipments are targeted to commence on a more regular basis as production ramps up
- Copper drilling announced last week is ongoing, with target completion next week with aim to provide bulk samples for mineralogical testwork
Tartana Minerals Managing Director, Stephen Bartrop, commented:
“Our first shipment of Copper Sulphate with our 100% offtake partner, Kanins International, is a significant step towards recommencing commercial steady-state production and reflects a coalescence of over two years of work in recommissioning this plant. We now look towards moving into a more regular rhythm of shipments being completed.
“Recent Copper price improvements directly increase the profitability of this project as Copper Sulphate is priced by reference to its Copper weight plus a premium.”
Above: First shipment preparing to leave the Tartana Mine Site on Friday, 3 May 2024
As agreed with the Company’s 100% offtake partner, Kanins International, the Company has been paid for the product immediately upon the product leaving mine site. Cash receipts from Kanins will be reflected in the Company’s quarterly cash flow reporting on and from this Q4 FY24.
Drilling Ongoing
Last week, Tartana announced that it would commence a diamond drill hole for metallurgical sampling, targeting PQ sizing. Tartana is pleased to advise that drilling commenced successfully last week and is expected to be completed next week.
Click here for the full ASX Release
This article includes content from Tartana Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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