Tartana is in discussions to gain access to the Mungana processing plant with Mt Garnet Mineral Finance Pty Ltd (MGMF) as mortgagee in possession of the assets of Aurora Metals Ltd (in liquidation) and its related subsidiaries (also in liquidation).
Highlights:
- The proposal remains subject to various conditions precedent and MGMF and Tartana to cooperate on securing any approvals that would be required to give effect to this arrangement.
- If successful, Tartana will have the ability to process Tartana copper ore through the Mungana Processing Plant which has a nameplate production capacity of 600 000 tpy.
- Production would involve opencast mining and upgrading copper mineralisation based on Tartana’s existing 45 000 t @ 0.45% Cu contained copper resource. The resource is open at depth and a drilling programme has been designed to target an increase to +100 000 contained copper.
Commenting on the potential arrangement, Tartana’s Managing Director, Dr Stephen Bartrop, said:
“We are excited to be working with MGMF to explore an opportunity for Tartana to access the Mungana processing plant and other assets controlled by MGMF. Tartana has spent the last three years defining both the open pit copper and zinc resources at our Tartana mining leases along with the metallurgical testwork necessary for the potential processing in a conventional flotation plant such as the Mungana processing plant.
“While the Mungana plant has experienced a chequered history, largely stemming from unsustainable ore supplies from underground mining, this impediment is removed with the Tartana opencast mine which we believe could achieve production on a more sustainable basis.”